You Are On Multi Choice Question Bank SET 4456
222804.
Answer the questions based on the following Table
Examine the following statements:
I. Total productivity of pulses has gone down over the years
II. Maize is the most stable cereal in terms of productivity over the years
III. Percentage growth in area and quantity of production is highest in the case of Jowar during the entrie period.
Select the best option:
222805. Examine the following statements: I. Over the period total cereal productivity has gone up II. Area, Production and yield of the total oil seeds is on decline III. Though there is a decline in the area under Urd production but the quantity of production and yield has gone up over the years. Select the best option:
222806.
Study the following carefully and answer the questions.
During which year the Oil used for House Hold as a percentage of Total Oil Used is highest?
222807.
Study the following carefully and answer the questions.
During which year the ‘Oil Production Loss’ as a proportion of ‘Total Oil Produced’ is the lowest?
222808.
Study the following carefully and answer the questions.
During which year use of oil by ‘Suburban’ as a proportion of ‘Total Oil Used’ was the highest?
222809.
Study the following carefully and answer the questions.
For how many number of years the growth rate in ‘Production of Oil’ is more than the growth rate in ‘Total Oil Used’?
222811.
Study the followin information carefully and answer the questions.Four houses Blue, Green, Red and Yellow are located in a row in the given order. Each of the houses is occupied by a person earning a fixed amount of a salary. The four persons are Paul, Krishna, Laxman, and Som.Read the following instruction carefully:
I. Paul lives between Som and Krishna
II. Laxman does not stay in Blue house
III. The person living in Red house earns more than that of person living in Blue
IV. Salary of Som is more than that of Paul but lesser than that of Krishna
V. One of the person earns Rs. 80, 000
VI. The person earning Rs. 110,000 is not Laxman
VII. The salary difference between Laxman and Son is Rs. 30,000
VIII. The House in which Krishna lives is located between houses with persons earning salaries of Rs. 30,000 and Rs. 50,000
IX. Krishna does not live in Yellow house, and the person living in yellow house is not earning lowest salary among the four persons.Who lives in Red house?
222814. Mr Raghav went in his car to meet his friends John. He Drove 30 kms towards north and then 40 kms towards west. He then turned to south and covered 8 kms. Further he turned to east and moved 26 kms. Finally he turned right and drove 10 kms and then turned left to travel 19 kms. How far and in which direction is he from the starting point?
222815. Mr. Raju took the members of his family for a picnic. His father’s mother and mother’s father including their two children were in one car. His father’s son and sister’s husband, brother’s wife were in second car. He along with his wife, wife’s sister, wife’s brother and son’s wife with a kid was in the third car. How many members of Mr. Raju’s family were there in the picnic along with Mr. Raju and how many were left behind (assuming all members of the third generation are married)?
222816. ABCDE play a game of cards. ‘A’ tells ‘B’ that if ‘B’ gives him five cards ‘A’ will have as many cards as ‘E’ has. However if A gives five cards to ‘B’ then ‘B’ will have as many cards as ‘D’. A and B together has 20 cards more than what D and E have together. B has four cards more than what C has and total number of cards are 201. How many cards B have?
222817. Ganesh Cultural Centre for promoting arts has appointed 3 instructors for music, dance, and painting. Music instructor takes session from 12 noon to 4:00 pm on Monday, Thursday and Sunday. The sessions of dance instructor are scheduled on Tuesday, Thursday, Wednesday and Sunday between 10:00 a to 2:00 pm. The 9:00 am to 12:00 noon slot on Tuesday, Friday and Thursday and also 2:00 pm to 4:00 pm slot on Wednesday, Saturday and Sunday is filled up by Painting Instructor. On which day(s) of a week the dance and painting sessions are simultaneously held?
222818.
Study the information given below and answer the questions.The following table contains the pre and post revision pay structure of a Government department
The revision has been done based on the following terms:
-In pre-revised pay scale, the basic pay is the sum of the minimum pay in the appropriate pay scale and the admissible increment. After revision, the basic pay is the sum of minimum pay in the appropriate pay scale and the respective grade pay and the admissible increments.
-Annual increment of 3% of the basic pay (on a compounded basic) is paid under the revised pay rules.
-Monthly Dearness Allowance (DA) is calculated as percentage of basic pay.
-In pre-revised pay scales, the increment was given after the completion of each year of service, but, after revision annual increments are given only in the month of July every year and there should be a gap of six months between the increments.
The employees who had joined the department in the month of September, October, November and December are given an increment at the time of revised pay fixation in September, 2008.
The revised pay is applicable from 1st September, 2008.Abhijit joins the department on November 10, 2006 in the pay scale of Rs. 18,400-500-22,400 with the pay of Rs. 18,400 plus 2 increments. What is his basic salary, after revision, on August 1, 2009?
222819. Nitin joined the department on November 24, 2004 in the pay scale of Rs. 8,000-275-13,500, at the minimum pay. At the time of pay revision, due to some error, his pay was fixed at the base (minimum) of the corresponding revised pay scale. The loss in his total emoluments for September 2008, due to this error, will be:
222820. Sunitha joined the department at the basic pay of Rs. 13,500 in the pay scale of Rs. 12,000-16,500. On completion of her four years of service in December, 2008, she was promoted to the next higher pay scale, the percentage increase in her gross salary is:
222821. Dinesh joined on July 1, 2008 in the pay scale of Rs. 16,400-20,000 at the basic pay of Rs. 16,850. On August 10, 2009, the department revised the rates of DA to 31% with effect from January, 2009 and further to 36% effective from July 2009. How much arrear will Dinesh get in August, 2009 because of these revisions?
222826. Arcelor, acquired by Mittal steel, was formed by merger of which of the following three steel companies?
222832. The abbreviations given in the first column are explained in the second column. Select the option which has all wrong explanations of the abbreviations.
222833. Who amongst the following was not nominated by the Government of India on the board of Satyam Computers Services?
222836. The slogans in the table given below have been matched with the company they relate to. Choose the correct match.
222837. In the financial year 2008-09, the top three investing countries in terms of FDI inflows were:
222840. Which of the following Public Sector Units does not fall in the category of ‘Navratna’ PSUs:
222846. 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
222847. Which of the following, according to author, does not have an impact on effective corporate governance?
222848. To improve the quality and reliability of the information reported in the financial statements: I. Accounting standards should keep pace with the dynamic business environment II. There should be a body of internal auditors to oversee the functioning of external auditors III. Reports should be certified by key company officials IV. Accounting standards should be set by a body comprising of practicing accountants only and this body should be funded from a corpus built up from the contributions made by the companies
222849. Which of the following may not help in improving in the accountability of management to the shareholders?
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