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You Are On Question Answer Bank SET 405

20251. What is the simple interest on Rs.8000 at 8% per annum?

Answer: 640

20252. If ‘BANK’ is coded as ‘CAMP’ in a language, how is ‘RAMP’ coded in that language?

Answer: SALU

20253. ‘DOCTOR’ is related to ‘PATIENT’ in the sense as ‘PUPIL’ is related to:

Answer: TEACHER

20254. While introducing a girl in a party, Ramesh said, “She is the daughter-in-law of the only son of my father”. How is Ramesh related to the girl?

Answer: Father-in-law.

20255. The apex body of co-operative societies in India is :

Answer: National Co-operative Union of India.

20256. CAMPCO is a joint venture of Kerala and:

Answer: Karnataka

20257. The Co-operative reform movement of which country formulated ‘Friendly Societies’

Answer: England

20258. What is the prime objective of setting up of CAPE?

Answer: To establish new institution for professional education under Co-operative sector.

20259. Who was the chairman of the task force constituted by the Finance Minister, Govt. of India in 2004 to formulate practical and implementable plan of action is rejuvenate in the rural Co-operative credit structure?

Answer: Prof. A.Vaidyanathan

20260. The well known Raiffeicen rule of ‘One village one society’ was generally followed in which type of Societies?

Answer: Agricultural credit Societies

20261. Central Co-operative Bank in each state organizes their federation which is called?

Answer: State Co-operative Banks

20262. In Co-operative accounting the dual aspect of any transactions are denoted by :

Answer: Receipts and Payments.

20263. A Co-operative Society with unlimited liability can distribute profits only with the general or special orders of :

Answer: State Government

20264. As per the section 33 of the Co-operative Societies Act, 1912 the first 25% of the net profit earned during any year should be transferred to?

Answer: Reserve fund

20265. Which accounting concept states that every change in resources brings about equal changes in equities?

Answer: Dual aspect concept

20266. On purchase of old furniture, Rs.2000 is spent for its repair should be debited to :

Answer: Furniture Account

20267. Payment of liability result in :

Answer: Decrease in total asset

20268. A Co-operative society shall be registered only with :

Answer: Limited liability

20269. According to section 74, who can cancel the registration of a society ?

Answer: Registrar

20270. The first secretary of co-operative society, before its registration shall generally be appointed by :

Answer: Promoters

20271. Who can dismiss a co-operative society?

Answer: Board of Directors

20272. The term of office of an elected member in circle co-operative union shall be?

Answer: 5 years

20273. The members of the circle Co-operative union shall meet?

Answer: At least once in every month

20274. A customer’s letter of instruction, without any stamp, in connection with the operations of his account is known as :

Answer: Mandate

20275. The document drawn by a debtor on the creditor agreeing to pay a certain sum is called:

Answer: Promissory Note

20276. The reasonable period allowed in India for the presentation of a cheque is :

Answer: 6 months

20277. The document which can be used only for local payment is ?

Answer: A banker’s cheque

20278. The relationship between a banker and a customer is :

Answer: Primarily that of a Debtor and Creditor

20279. The Banker has a lien of :

Answer: Bonds given for collection

20280. In executing the standing instructions, there exist a relationship between banker and customer is of:

Answer: Agent and Principal

20281. The best procedure for opening an account in the name of a minor X and the guardian Y would under the style:

Answer: Y in trust for X

20282. The most undesirable customer is :

Answer: An undischarged bankrupt

20283. Crossing a Cheque without the knowledge of the drawer is a case of :

Answer: Authorised alteration

20284. Not negotiable crossing is a warning to the :

Answer: Holder

20285. A cheque which is not crossed is called:

Answer: Open cheque

20286. When the amount stated in words and figures differs in a cheque, the banker:

Answer: Can honour the amount in words

20287. When Garnishee Order is issued by the court attaching the account of a customer, the banker:

Answer: Garnishee

20288. A collecting banker is given the statutory protection only when he act as:

Answer: An agent

20289. The bankers right of set off is nothing but a :

Answer: Right to combine

20290. The rate of interest payable on various deposits is determined by the :

Answer: Reserve Bank of India

20291. A Savings Bank account in the sole name of a minor can be opened provided he completed:

Answer: 10 years of age

20292. When amendment of bye-laws of the society shall came into force, unless it is expressed to come into operation on a particular day:

Answer: The day on which it is registered

20293. The final authority in a society is :

Answer: General body

20294. The state co-operative election commission shall be an officer appointed by the Govt.for a period of ?

Answer: 5 years

20295. If a committee consist of 13 members, minimum number of members whose presence is necessary to constitute the quorum is :

Answer: 7

20296. The tax imposed under the provisions of the Kerala Land Tax Act.1961 is :

Answer: Basic Tax

20297. The competent authority enjoy the power to sign documents on behalf of or in the name of the society:

Answer: Secretary

20298. After receiving a requisition in writing from the Registrar, a special general body meeting of the society shall call such meeting with in a period of

Answer: One month

20299. In case of super session of the committee of a society, there is :

Answer: No provision to give separate notice to each member

20300. The fund established by Apex society with moneys received from the Govt. under section 43 of Kerala State Co-Operative Societies Act:

Answer: Principal state partnership fund
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