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Consider the following statements:
Which of the statements given above is/are NOT correct?
Solution (d)
There are 14 Navratna CPSE’s and 10 Maharatna CPSE’s.
Hence Statement 1 is correct.
A CPSE which is already a Navratna CPSE would only be considered for granting Maharatna Status.
Hence Statement 2 is correct.
Solution (d)
There are 14 Navratna CPSE’s and 10 Maharatna CPSE’s.
Hence Statement 1 is correct.
A CPSE which is already a Navratna CPSE would only be considered for granting Maharatna Status.
Hence Statement 2 is correct.
Consider the following statements:
Which of the statements given above is/are correct?
Solution (b)
Salary paid by the companies to regular CSR staff as well as employees, who render their services for CSR will be part of Administrative overheads and should not exceed 5% of the total CSR expenditure as per rule 4(6) of CSR Policy, Rules 2014.
Hence Statement 1 is incorrect.
The amount spent by a company towards CSR cannot be claimed as business expenditure.
Hence Statement 2 is correct.
Solution (b)
Salary paid by the companies to regular CSR staff as well as employees, who render their services for CSR will be part of Administrative overheads and should not exceed 5% of the total CSR expenditure as per rule 4(6) of CSR Policy, Rules 2014.
Hence Statement 1 is incorrect.
The amount spent by a company towards CSR cannot be claimed as business expenditure.
Hence Statement 2 is correct.
Consider the following statements
Which of the statements given above is/are correct?
Solution (a)
A medium enterprise is the one, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
Hence Statement 1 is correct.
A small enterprise is the one, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees.
A micro enterprise is the one, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees.
Hence Statement 2 is incorrect.
Solution (a)
A medium enterprise is the one, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
Hence Statement 1 is correct.
A small enterprise is the one, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees.
A micro enterprise is the one, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees.
Hence Statement 2 is incorrect.
Consider the following statements:
Which of the statements given above is/are NOT correct?
Solution (c)
Any person who intends to establish a micro, small or medium enterprise may file Udyam Registration online in the Udyam Registration portal.
Hence Statement 1 is incorrect.
Contribution of any amount directly or indirectly to any political party shall not be considered as a CSR activity.
Hence Statement 2 is incorrect.
Solution (c)
Any person who intends to establish a micro, small or medium enterprise may file Udyam Registration online in the Udyam Registration portal.
Hence Statement 1 is incorrect.
Contribution of any amount directly or indirectly to any political party shall not be considered as a CSR activity.
Hence Statement 2 is incorrect.
Consider the following statements regarding Companies Act 2013:
Which of the statements given above is/are correct?
Solution (d)
A company may be formed for any lawful purpose by seven or more persons, where the company to be formed is to be a public company.
Hence Statement 1 is incorrect.
A company may be formed for any lawful purpose by one person, where the company to be formed is to be One Person Company that is to say, a private company.
Hence Statement 2 is incorrect.
Solution (d)
A company may be formed for any lawful purpose by seven or more persons, where the company to be formed is to be a public company.
Hence Statement 1 is incorrect.
A company may be formed for any lawful purpose by one person, where the company to be formed is to be One Person Company that is to say, a private company.
Hence Statement 2 is incorrect.
Consider the following statements with reference to the evolution of Public Sector Undertakings (PSU’s) in India:
Which of the above statements is/are correct?
Solution (b)
Public Sector was developed as an instrument for self-reliant economic growth.
Hence Statement 1 is correct
Initially, the public sector was confined to core and strategic industries.
Hence Statement 2 is incorrect
The second phase witnessed nationalization of industries, takeover of sick units from the private sector, and entry of the public sector into new fields like manufacturing consumer goods, consultancy, contracting and transportation etc.
Hence Statement 3 is incorrect
Solution (b)
Public Sector was developed as an instrument for self-reliant economic growth.
Hence Statement 1 is correct
Initially, the public sector was confined to core and strategic industries.
Hence Statement 2 is incorrect
The second phase witnessed nationalization of industries, takeover of sick units from the private sector, and entry of the public sector into new fields like manufacturing consumer goods, consultancy, contracting and transportation etc.
Hence Statement 3 is incorrect
Consider the following statements with reference to the Public Sector Undertakings (PSUs)?
Which of the abve statements is/are correct?
Solution (c)
The government-owned corporations are termed as Public Sector Undertakings (PSUs) in India.
Hence Statement 1 is correct
In a PSU majority (51% or more) of the paid up share capital is held by central government or by any state government or partly by the central governments and partly by one or more state governments.
Hence Statement 2 is incorrect
In respect of government companies, CAG has the power to appoint the Auditor and to direct the manner in which the Auditor shall audit the company’s accounts.
Hence Statement 3 is correct
Solution (c)
The government-owned corporations are termed as Public Sector Undertakings (PSUs) in India.
Hence Statement 1 is correct
In a PSU majority (51% or more) of the paid up share capital is held by central government or by any state government or partly by the central governments and partly by one or more state governments.
Hence Statement 2 is incorrect
In respect of government companies, CAG has the power to appoint the Auditor and to direct the manner in which the Auditor shall audit the company’s accounts.
Hence Statement 3 is correct
Which of the following are Maharatnas?
Select the correct answer using the code given below:
Solution (a)
Bharat Electronics Limited, Hindustan Aeronautics Limited are Navratna CPSEs.
Solution (a)
Bharat Electronics Limited, Hindustan Aeronautics Limited are Navratna CPSEs.
Consider the following statements about the Criteria for grant of Maharatna status to PSUs:
Which of the above statements are correct?
Solution (d)
The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status.
Solution (d)
The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status.
Consider the following statements about National Financial Reporting Authority:
Which of the statements given above is/are correct?
Solution (b)
National Financial Reporting Authority shall monitor and enforce the compliance with accounting standards and auditing standards in such manner as may be prescribed.
Hence Statement 1 is incorrect
National Financial Reporting Authority shall make recommendations to the Central Government on the formulation and laying down of accounting and auditing policies and standards for adoption by companies or class of companies or their auditors.
Hence Statement 2 is correct
Solution (b)
National Financial Reporting Authority shall monitor and enforce the compliance with accounting standards and auditing standards in such manner as may be prescribed.
Hence Statement 1 is incorrect
National Financial Reporting Authority shall make recommendations to the Central Government on the formulation and laying down of accounting and auditing policies and standards for adoption by companies or class of companies or their auditors.
Hence Statement 2 is correct
