1. Which is the first Indian company to be listed in the world’s fourth largest stock exchange sistuated in USA ie; NASDAQ

Answer: Infosys

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QA->Which is the first Indian company to be listed in the world’s fourth largest stock exchange sistuated in USA ie; NASDAQ....
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MCQ-> Read the following passage carefully and answer the questions given. Certain words have been given in bold to help you locate them while answering some of the questions.We are told that economy is growing and that such growth benefits all of us. However, what you see is not what you always get. Most people are experiencing declining economic security in response to the problems of the global system, many communities have turned to Local Exchange Systems (LESs) to help regain some control over their economic situations.Local exchange systems come in many forms. They often involve the creation of a local currency, or a system of bartering labour, or trading of agricultural products as a means of supporting the region in which they are traded. Such a system helps preserve the viability of local economies.Local currencies allow communities to diversify their economies, reinvest resources back into their region and reduce dependence on the highly concentrated and unstable global economy. Each local currency system serves as an exchange bank for skills and resources that Individuals in the community are willing to trade. Whether in the form of paper money, service credits, or other units, a local currency facilitates the exchange of services and resources among the members of a community.By providing incentives for local trade, communities help their small businesses and reduce underemployment by providing the jobs within the community. In addition, the local exchange of food and seeds promotes environmental conservation and community food security. Local food production reduces wasteful transportation and promotes self-reliance and genetic diversity. Each transaction within a local exchange system strengthens the community fabric as neighbours interact and meet one another.There are over 1,000 local change programs worldwide more than 30 local paper currencies in North America and at least 800 Local Exchange Trading Systems (LETS) throughout Europe. New Zealand and Australia Local Exchange Systems vary and evolve in accordance with the needs and circumstances of the local area. This diversity is critical to the success of the local currencies. For instance, a bank in rural Massachusetts refused to lend a fanner the money needed to make it through the winter. In response, the farmer decided to print his own money Berkshire Farm Preserve Notes. In winter, customers buy the notes for $9 and they may redeem them in the summer for $10 worth of vegetables. The system enabled the community to help a farm family after being abandoned by the centralised monetary system. As small family farms continue to disappear at an alarming rate, local currencies provide tools for communities to bind together, support their local food growers and maintain their local food suppliers.Local Exchange Systems are not limited to developed countries.Rural areas of Asia, Latin America and Africa have offered some of the most effective and important programs, by adopting agriculture-based systems of exchange rather than monetary ones. In order to preserve genetic diversity, economic security and avoid dependence on industrial seed and chemical companies, many villages have developed seed saving exchange banks. For example, the village women in Ladakh have begun to collect and exchange rare seeds selected for their ability to grow in a harsh mountain climate. This exchange system protects agriculture diversity while promoting self-reliance. There is no one blueprint for a local exchange system, which is exactly why they are successful vehicles for localisation and sustainability. They promote local economic diversity and regional self-reliance while responding to a region’s specific needs. Local exchange systems play a pivotal role in creating models for sustainable societies. They are an effective educational tool, raising awareness about the global financial system and local economic matters. Local exchange systems also demonstrate that tangible, creative solutions exist and that communities can empower themselves to address global problems.Which of the following is same in meaning as the word ‘LIMITED TO’ as used in the passage?
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MCQ-> Please read the three reports (newspaper articles) on ranking of different players and products in smart phones industry and answer the questions that follow. Report 1: (Feb, 2013) Apple nabs crown as current top US mobile phone vendor Apple’s reign may not be long, as Samsung is poised to overtake Apple in April, 2013. For the first time since Apple entered the mobile phone market in 2007, it has been ranked the top mobile phone vendor in the US. For the latter quarter of 2012, sales of its iPhone accounted for 34 percent of all mobile phone sales in the US - including feature phones - according to the latest data from Strategy Analytics. While the iPhone has consistently been ranked the top smartphone sold in the US, market research firm NPD noted that feature phone sales have fallen off a cliff recently, to the point where 8 out of every 10 mobile phones sold in the US are now smartphones. That ratio is up considerably from the end of 2011, when smartphones had just cracked the 50 percent mark. Given this fact it’s no surprise that Apple, which only sells smartphones, has been able to reach the top of the overall mobile phone market domestically. For the fourth quarter of 2012, Apple ranked number one with 34 percent of the US mobile market, up from 25.6 percent year over year. Samsung grew similarly, up to 32.3 percent from 26.9 percent - but not enough to keep from slipping to second place. LG dropped to 9 percent from 13.7 percent, holding its third place spot. It should be noted that Samsung and LG both sell a variety of feature phones in addition to smartphones. Looking only at smartphones, the ranking is a little different according to NPD. Apple holds the top spot with 39 percent of the US smartphone market, while Samsung again sits at number two with 30 percent. Motorola manages to rank third with 7 percent, while HTC dropped to fourth with 6 percent. In the US smartphone market, LG is fifth with 6 percent. Note how the percentages aren’t all that different from overall mobile phone market share - for all intents and purposes, the smartphone market is the mobile phone market in the US going forward. Still, Samsung was the top mobile phone vendor overall for 2012, and Strategy Analytics expects Samsung to be back on top soon. “Samsung had been the number one mobile phone vendor in the US since 2008, and it will surely be keen to recapture that title in 2013 by launching improved new models such as the rumored Galaxy S4”. And while Apple is the top vendor overall among smartphones, its iOS platform is still second to the Android platform overall. Samsung is the largest vendor selling Android-based smartphones, but Motorola, HTC, LG, and others also sell Android devices, giving the platform a clear advantage over iOS both domestically and globally. Report 2: Reader’s Response (2013, Feb) I don’t actually believe the numbers for Samsung. Ever since the debacle in early 2011, when Lenovo called into question the numbers Samsung was touting for tablet shipments, stating that Samsung had only sold 20,000 of the 1.5 million tablets they shipped into the US the last quarter of 2010, Samsung (who had no response to Lenovo) has refused to supply quarterly sales numbers for smartphones or tablets. That’s an indication that their sales aren’t what analysts are saying. We can look to several things to help understand why. In the lawsuit between Apple and Samsung here last year, both were required to supply real sales numbers for devices under contention. The phones listed turned out to have sales between one third and one half of what had been guessed by IDC and others. Tablet sales were even worse. Of the 1.5 million tablets supposedly shipped to the US during that time, only 38,000 were sold. Then we have the usage numbers. Samsung tablets have only a 1.5% usage rate, where the iPad has over 90%. Not as much a difference with the phones but it’s still overwhelmingly in favor of iPhone. The problem is that with Apple’s sales, we have actual numbers to go by. The companies who estimate can calibrate what they do after those numbers come out. But with Samsung and many others, they can’t ever calibrate their methods, as there are no confirming numbers released from the firms. A few quarters ago, as a result, we saw iSupply estimate Samsung’s smartphone sales for the quarter at 32 million, with estimates from others all over the place up to 50 million. Each time some other company reported a higher number for that same quarter, the press dutifully used that higher number as THE ONE. But none of them was the one. Without accurate self-reporting of actual sales to the end users, none of these market share charts are worth a damn! Report 3: Contradictory survey (Feb, 2013) iPhone5 Ranks Fifth In U.S. Customer Satisfaction Survey inShare. The iPhone5 ranks fifth in customer satisfaction according to the results of a recent survey from OnDevice Research, a mobile device research group. In the poll, they asked 320,000 smartphone and tablet users from six different countries, how satisfied they were with their devices. According to 93,825 people from the US, Motorola Atrix HD is the most satisfying and Motorola’s Droid Razr took second spot. HTC Corp (TPE : 2498)’s Rezound 4G and Samsung Galaxy Note 2 took third and fourth spots, while Apple’s iPhone5 landed in fifth spot. It appears that Apple may be lagging in consumer interest. OnDevice Research, Sarah Quinn explained, “Although Apple created one of the most revolutionary devices of the past decade, other manufactures have caught up, with some Android powered devices now commanding higher levels of user satisfaction.” Despite the lower rankings, things aren’t looking too bad for Apple Inc. (NASDAQ:AAPL) elsewhere. In the United Kingdom, they ranked second place, right after HTC One X. Interesting enough, Apple did take top spot for overall satisfaction of mobile device, whereas Google Inc. (NASDAQ:GOOG) ranked second. Motorola Mobility Holdings Inc. (NYSE:NOK) took third, fourth, and fifth places respectively, while Sony Ericsson trailed behind at sixth place. The survey sampled mobile device users in the following countries: United States, United Kingdom, France, Germany, Japan, and Indonesia. Although OnDevice didn’t share the full list of devices mentioned in the survey, it does show some insight to what customers want. Unfortunately, there were still many questions regarding the survey that were left unanswered. Everyone wants to know why Google Inc. (NASDAQ:GOOG) was on the list when they are not an actual smartphone maker and why was Samsung Electronics Co., Ltd. (LON:BC94) on the bottom of the satisfaction list when the brand is leading elsewhere. Source: 92.825 US mobile users, July 2012 - January 2013 Fortunately, those questions were answered by OnDevice Research’s representative. He explained that the survey was conducted on mobile web where the survey software could detect the taker’s device and since user’s rate their satisfaction levels on a 1 to 10 scale, thanks to the Nexus device, Google was included.If you analyze the three reports above, which of the following statements would be the best inference?
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MCQ-> Read carefully the four passages that follow and answer the questions given at the end of each passage:PASSAGE I The most important task is revitalizing the institution of independent directors. The independent directors of a company should be faithful fiduciaries protecting, the long-term interests of shareholders while ensuring fairness to employees, investor, customer, regulators, the government of the land and society. Unfortunately, very often, directors are chosen based of friendship and, sadly, pliability. Today, unfortunately, in the majority of cases, independence is only true on paper.The need of the hour is to strengthen the independence of the board. We have to put in place stringent standards for the independence of directors. The board should adopt global standards for director-independence, and should disclose how each independent director meets these standards. It is desirable to have a comprehensive report showing the names of the company employees of fellow board members who are related to each director on the board. This report should accompany the annual report of all listed companies. Another important step is to regularly assess the board members for performance. The assessment should focus on issues like competence, preparation, participation and contribution. Ideally, this evaluation should be performed by a third party. Underperforming directors should be allowed to leave at the end of their term in a gentle manner so that they do not lose face. Rather than being the rubber stamp of a company’s management policies, the board should become a true active partner of the management. For this, independent directors should be trained in their in their in roles and responsibilities. Independent directors should be trained on the business model and risk model of the company, on the governance practices, and the responsibilities of various committees of the board of the company. The board members should interact frequently with executives to understand operational issues. As part of the board meeting agenda, the independent directors should have a meeting among themselves without the management being present. The independent board members should periodically review the performance of the company’s CEO, the internal directors and the senior management. This has to be based on clearly defined objective criteria, and these criteria should be known to the CEO and other executive directors well before the start of the evolution period. Moreover, there should be a clearly laid down procedure for communicating the board’s review to the CEO and his/her team of executive directors. Managerial remuneration should be based on such reviews. Additionally, senior management compensation should be determined by the board in a manner that is fair to all stakeholders. We have to look at three important criteria in deciding managerial remuneration-fairness accountability and transparency. Fairness of compensation is determined by how employees and investors react to the compensation of the CEO. Accountability is enhanced by splitting the total compensation into a small fixed component and a large variable component. In other words, the CEO, other executive directors and the senior management should rise or fall with the fortunes of the company. The variable component should be linked to achieving the long-term objectives of the firm. Senior management compensation should be reviewed by the compensation committee of the board consisting of only the independent directors. This should be approved by the shareholders. It is important that no member of the internal management has a say in the compensation of the CEO, the internal board members or the senior management. The SEBI regulations and the CII code of conduct have been very helpful in enhancing the level of accountability of independent directors. The independent directors should decide voluntarily how they want to contribute to the company. Their performance should decide voluntarily how they want to contribute to the company. Their performance should be appraised through a peer evaluation process. Ideally, the compensation committee should decide on the compensation of each independent director based on such a performance appraisal. Auditing is another major area that needs reforms for effective corporate governance. An audit is the Independent examination of financial transactions of any entity to provide assurance to shareholder and other stakeholders that the financial statements are free of material misstatement. Auditors are qualified professionals appointed by the shareholders to report on the reliability of financial statements prepared by the management. Financial markets look to the auditor’s report for an independent opinion on the financial and risk situation of a company. We have to separate such auditing form other services. For a truly independent opinion, the auditing firm should not provide services that are perceived to be materially in conflict with the role of the auditor. These include investigations, consulting advice, sub contraction of operational activities normally undertaken by the management, due diligence on potential acquisitions or investments, advice on deal structuring, designing/implementing IT systems, bookkeeping, valuations and executive recruitment. Any departure from this practice should be approved by the audit committee in advance. Further, information on any such exceptions must be disclosed in the company’s quarterly and annual reports. To ensure the integrity of the audit team, it is desirable to rotate auditor partners. The lead audit partner and the audit partner responsible for reviewing a company’s audit must be rotated at least once every three to five years. This eliminates the possibility of the lead auditor and the company management getting into the kind of close, cozy relationship that results in lower objectivity in audit opinions. Further, a registered auditor should not audit a chief accounting office was associated with the auditing firm. It is best that members of the audit teams are prohibited from taking up employment in the audited corporations for at least a year after they have stopped being members of the audit team.A competent audit committee is essential to effectively oversee the financial accounting and reporting process. Hence, each member of the audit committee must be ‘financially literate’, further, at least one member of the audit committee, preferably the chairman, should be a financial expert-a person who has an understanding of financial statements and accounting rules, and has experience in auditing. The audit committee should establish procedures for the treatment of complaints received through anonymous submission by employees and whistleblowers. These complaints may be regarding questionable accounting or auditing issues, any harassment to an employee or any unethical practice in the company. The whistleblowers must be protected. Any related-party transaction should require prior approval by the audit committee, the full board and the shareholders if it is material. Related parties are those that are able to control or exercise significant influence. These include; parent- subsidiary relationships; entities under common control; individuals who, through ownership, have significant influence over the enterprise and close members of their families; and dey management personnel.Accounting standards provide a framework for preparation and presentation of financial statements and assist auditors in forming an opinion on the financial statements. However, today, accounting standards are issued by bodies comprising primarily of accountants. Therefore, accounting standards do not always keep pace with changes in the business environment. Hence, the accounting standards-setting body should include members drawn from the industry, the profession and regulatory bodies. This body should be independently funded. Currently, an independent oversight of the accounting profession does not exist. Hence, an independent body should be constituted to oversee the functioning of auditors for Independence, the quality of audit and professional competence. This body should comprise a "majority of non- practicing accountants to ensure independent oversight. To avoid any bias, the chairman of this body should not have practiced as an accountant during the preceding five years. Auditors of all public companies must register with this body. It should enforce compliance with the laws by auditors and should mandate that auditors must maintain audit working papers for at least seven years.To ensure the materiality of information, the CEO and CFO of the company should certify annual and quarterly reports. They should certify that the information in the reports fairly presents the financial condition and results of operations of the company, and that all material facts have been disclosed. Further, CEOs and CFOs should certify that they have established internal controls to ensure that all information relating to the operations of the company is freely available to the auditors and the audit committee. They should also certify that they have evaluated the effectiveness of these controls within ninety days prior to the report. False certifications by the CEO and CFO should be subject to significant criminal penalties (fines and imprisonment, if willful and knowing). If a company is required to restate its reports due to material non-compliance with the laws, the CEO and CFO must face severe punishment including loss of job and forfeiting bonuses or equity-based compensation received during the twelve months following the filing.The problem with the independent directors has been that: I. Their selection has been based upon their compatibility with the company management II. There has been lack of proper training and development to improve their skill set III. Their independent views have often come in conflict with the views of company management. This has hindered the company’s decision-making process IV. Stringent standards for independent directors have been lacking...
MCQ-> Answer questions based on the following information: An automobiles company’s annual sales of its small cars depends on the state of the economy as well as on whether the company uses some high profile individual as its brand ambassador in advertisements of its product. The state of the economy is “good”, “okay” and “bad” with probabilities 0.3, 0.4 and 0.3 respectively. The company may choose a high profile individual as its brand ambassador in TV ads or may go for the TV ads without a high profile brand ambassador. If the company fixes price at Rs. 3.5 lakh, the annual sales of its small cars for different states of the economy and for different kinds of TV ads are summarized in table 1. The figures in the first row are annual sales of the small cars when the company uses a high profile individual as its brand ambassador in its TV ads and the ones in the second row are that when the company does not use any brand ambassador in TV ads, for different states of the economy. Table 1: Without knowing what exactly will be the state of the company in the coming one year, the company will either have to sign a TV ad contract with some high profile individual, who will be the company’s brand ambassador for its small car for the next one year, or go for a TV ad without featuring any high profile individual. It incurs a cost of Rs. 3.45 lakh (excluding the payment to the brand ambassador) to put a car on the road. When the company’s profit is uncertain, the company makes decisions on basis of its expected profit. If the company can earn a profit xi with probability pi (the probability depends on the state of economy), then the expected profit of the company is $$\sum_1XiPi$$The maximum that the company can afford to pay its brand ambassador is
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MCQ-> Choose the best answer for each question.The production of histories of India has become very frequent in recent years and may well call for some explanation. Why so many and why this one in particular? The reason is a two-fold one: changes in the Indian scene requiring a re-interpretation of the facts and changes in attitudes of historians about the essential elements of Indian history. These two considerations are in addition to the normal fact of fresh information, whether in the form of archeological discoveries throwing fresh light on an obscure period or culture, or the revelations caused by the opening of archives or the release of private papers. The changes in the Indian scene are too obvious to need emphasis. Only two generations ago British rule seemed to most Indian as well as British observers likely to extend into an indefinite future; now there is a teenage generation which knows nothing of it. Changes in the attitudes of historians have occurred everywhere, changes in attitudes to the content of the subject as well as to particular countries, but in India there have been some special features. Prior to the British, Indian historiographers were mostly Muslims, who relied, as in the case of Sayyid Ghulam Hussain, on their own recollection of events and on information from friends and men of affairs. Only a few like Abu’l Fazl had access to official papers. These were personal narratives of events, varying in value with the nature of the writer. The early British writers were officials. In the 18th century they were concerned with some aspect of Company policy, or like Robert Orme in his Military Transactions gave a straight narrative in what was essentially a continuation of the Muslim tradition. In the early 119th century the writers were still, with two notable exceptions, officials, but they were now engaged in chronicling, in varying moods of zest, pride, and awe, the rise of the British power in India to supremacy. The two exceptions were James Mill, with his critical attitude to the Company and John Marchman, the Baptist missionary. But they, like the officials, were anglo-centric in their attitude, so that the history of modern India in their hands came to be the history of the rise of the British in India.The official school dominated the writing of Indian history until we get the first professional historian’s approach. Ramsay Muir and P. E. Roberts in England and H. H. Dodwell in India. Then Indian historians trained in the English school joined in, of whom the most distinguished was Sir Jadunath Sarkar and the other notable writers: Surendranath Sen, Dr Radhakumud Mukherji, and Professor Nilakanta Sastri. They, it may be said, restored India to Indian history, but their bias was mainly political. Finally have come the nationalists who range from those who can find nothing good or true in the British to sophisticated historical philosophers like K. M. Panikker.Along the types of historians with their varying bias have gone changes in the attitude to the content of Indian history. Here Indian historians have been influenced both by their local situation and by changes of thought elsewhere. It is this field that this work can claim some attention since it seeks to break new ground, or perhaps to deepen a freshly turned furrow in the field of Indian history. The early official historians were content with the glamour and drama of political history from Plassey to the Mutiny, from Dupleix to the Sikhs. But when the raj was settled down, glamour departed from politics, and they turned to the less glorious but more solid ground of administration. Not how India was conquered but how it was governed was the theme of this school of historians. It found its archpriest in H. H. Dodwell, its priestess in Dame Lilian Penson, and its chief shrine in the Volume VI of the Cambridge History of India. Meanwhile, in Britain other currents were moving, which led historical study into the economic and social fields. R. C. Dutt entered the first of these currents with his Economic History of India to be followed more recently by the whole group of Indian economic historians. W. E. Moreland extended these studies to the Mughal Period. Social history is now being increasingly studied and there is also of course a school of nationalist historians who see modern Indian history in terms of the rise and the fulfillment of the national movement.All these approaches have value, but all share in the quality of being compartmental. It is not enough to remove political history from its pedestal of being the only kind of history worth having if it is merely to put other types of history in its place. Too exclusive an attention to economic, social, or administrative history can be as sterile and misleading as too much concentration on politics. A whole subject needs a whole treatment for understanding. A historian must dissect his subject into its elements and then fuse them together again into an integrated whole. The true history of a country must contain all the features just cited but must present them as parts of a single consistent theme.Which of the following may be the closest in meaning to the statement ‘restored India to Indian history’?
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