1. He sat P : through the Town Hall Park Q : which flanked a path running R : under the boughs S : of a spreading tamarind tree The Proper sequence should be:





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MCQ->He sat P : through the Town Hall Park Q : which flanked a path running R : under the boughs S : of a spreading tamarind tree The Proper sequence should be:....
MCQ-> Read the passage carefully and answer the questions given below it. Certain words/phrases have been given in bold to help you locate them while answering some of the questions. Long time ago, in a forest, there lived a young antelope. He was fond of the fruits of a particular tree. In a village bordering the forest, there lived a hunter who captured and killed antelopes for various reasons. He used to set traps for animals under fruit­bearing trees. When the animal came to eat the fruit, it would be caught in the trap. He would then take it away and kill it for its meat. One day, while visiting the forest in search of game, the hunter happened to see the antelope under its favourite tree, eating fruit. He was delighted. ‘What a big, plump antelope!’ he thought. ‘I must catch him. I will get a lot of money from selling his meat.’ Thereafter, for many days, the hunter kept track of the antelope’s movements. He realised that the antelope was remarkably vigilant and fleet footed animal that it would be virtually impossible for him to track him down. However, he had a weakness for that particular tree. The crafty concluded that he could use this weakness to capture him. Early one morning, the hunter entered the forest with some logs of wood. He climbed the tree and put up a machan (platform used by hunters) on one of its branches by tying the logs together. Having set his trap at the foot of the tree, he then took up position on the machan and waited for the antelope. He strewed a lot of iy ,ovef mrui bts eo rn2thoeig6round beneath the 11.004.3, tree to conceal the trap and lure the antelope. Soon, the antelope came strolling along. He was very hungry and was eagerly looking forward to his usual breakfast of delicious ripe fruits. On the tree­top, the hunter, having sighted him, sat with bated breath, willing him to come closer and step into his trap. However, the antelope was no fool. As he neared the tree he stopped short. The number of fruits lying under the tree seemed considerably more than usual. Surely, something was amiss, decided the antelope. He paused just out of reach of the tree and carefully began examining the ground. Now, he saw what distinctly looked like a human footprint. Without going closer, he looked suspiciously at the tree. The hunter was well hidden in its thick foliage, nevertheless the antelope, on close scrutiny, was now sure that his suspicions had not been unfounded. He could see a corner of the machan peeping out of the leaves. Meanwhile the hunter was getting desperate. Suddenly, he had a brainwave. Let me try throwing some fruit at him,’ he thought. So the hunter plucked some choice fruits and hurled them in the direction of the antelope. Alas, instead of luring him closer, it only confirmed his fears! Raising his voice, he spoke in the direction of the tree —”Listen, my dear tree, until now you have always dropped your fruits on the earth. Today, you have started throwing them at me! This is the most unlikely action of yours and I’m not sure I like the change! Since you have changed your habits, I too will change mine. I will get my fruits from a different tree from now on­one that still acts like a tree!’ The hunter realised that the antelope had outsmarted him with his cleverness. Parting the leaves to reveal himself, he I grabbed his javelin and flung it wildly at the antelope. But the clever antelope was well prepared for any such action on his part. Giving a saucy chuckle, he leapt nimbly out of the harm’s way.As mentioned in the story, which of the following can be said about the hunter ?
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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->Towards which direction is Town M from Town B ? I. Town B is to the West of Town D. Town D is to the North of Town M. II. Town K is to the South of Town B. Town K is to the West of Town M.....
MCQ-> Read the following passage carefully and answer the questions given below it.Certain words/phrases have been printed in bold to help you locate them while answering some of the questions.Princess Chandravati was very beautiful. She loved all kinds of ornaments and always wanted to wear the most precious and lovely jewels. Once, a jeweller came to the palace and gifted the king a wonderful diamond necklace. It glittered with big and small diamonds. It was certainly a very expensive necklace. The princess fell in love with it as soon as she saw it. So the king presented it to her. From that day on, the princess always wore that necklace, wherever she went. One day before going for a swim in the pond, she took the necklace off and put in the hands of her oldest and the most trustworthy servant. “Hold this and be careful. This is the most precious necklace in the whole world,” she said. The servant was an old woman. She sat under a tree, holding the ornament tightly and waited for the princess. It was a hot afternoon and the servant was very tired so she dozzed off .under the tree. Suddenly the servant felt that someone was tugging at the necklace and she woke up with a start. She looked around but no one was there and the necklace was gone. Scared out of her wits, the old servant started screaming. On hearing her scream the royal guards rushed to her. She pointed towards the direction in which the thief may have gone and the guards ran off that way. There was a poor and dim-witted farmer walking on the same road. As soon as he saw the royal guards running towards him, he thought that they wanted to catch him and started running. But he was not a strong man and could not outrun the hefty guards. The royal guards caught him in no time. “Where is it ?” they demanded, shaking him. “Where is what ?” the poor farmer stammered back. “The necklace you stole 1” thundered one of the royal guards. The farmer had no idea what they were talking about. He only understood that some precious necklace was lost and he was supposed to have it. He quickly replied, “I don’t know where it is now. I gave it to my landlord.” The guards ran towards the landlord’s house. “Give us the necklace right now !” the guards demanded of the fat landlord. “Necklace ? I don’t have any !” the stunned landlord replied. “Then tell us quickly who does,” demanded the soldiers. In order to get the royal guards off his back, the landlord pointed towards a priest who was walking by his house and said, “He does.” The guards now caught hold of the priest who was walking towards the temple and thinking about the lunch he had just eaten. The priest was stunned when one of the burly guards jumped on him and asked about the necklace. He remembered that the minister, Bhupati, was at the temple. He took the guards to the temple and pointed towards the praying minister, “I gave it to him,” he said. Bhupati too was caught and all four men were thrown in jail. The chief minister of the kingdom knew Bhupati well and was sure that Bhupati would never steal. He decided to find out who the culprit was. He hid near the jail where all four men were put and heard them talking. First, Bhupati asked the priest, “Panditji, why did you say that you gave the necklace to me ? I was quietly praying at the temple and now you have landed me in jail for no fault of mine.” The priest looked apologetic. He pointed towards the landlord and said, “I didn’t know what to say. He set the guards on me. I was simply passing by his house and was on my way to the temple.” The land lord looked at the priest sheepishly. Then he turned towards the poor farmer and yelled, “You lazy good-for-nothing man Why did you say that I had the necklace ?” The farmer, trembling under the angry gaze of all three men, said, “I was just walking home, The guards caught me and I did not know what to say.” On hearing, this conversation, the chief minister understood that all the four men were innocent. He immediately ordered the royal guards to search thoroughly, near the pond. The guards searched high and low till they saw something glinting on the tree. On the tree sat a monkey with the princess’ favourite necklace around his neck. It took a lot of coaxing and bananas before the monkey threw the necklace on the ground. The king apologised to all the four men and gave them gold coins as compensation. He requested his daughter to wear the necklace only indoors.Why did the king present the diamond necklace to his daughter ?
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