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1) The NCLAT was constituted under Section 410 of the Companies Act, 2013. What is the meaning of “A” in NCALT?
2) Insolvency & Bankruptcy Board of India notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018. Where is the Headquarters of IBBI?
d) New Delhi
3) SEBI was set up with the main purpose of keeping a check on malpractices and protects the interest of investors. What is the objective of SEBI?
a) To regulate the activities of stock exchange.
b) To protect the rights of investors and ensuring safety to their investment.
c) To prevent fraudulent and malpractices by having balance between self regulation of business and its statutory regulations.
d) To regulate and develop a code of conduct for intermediaries such as brokers, underwriters, etc.
e) All of the above
4) A debt which is irrecoverable and is therefore written off as loss in the accounts of an institution or bank is known as __________
a) External debt
b) Good debt
c) Bad debt
d) Internal debt
e) None of these
5) The most appropriate measure of a country’s economic growth is
c) Per capita real income
e) None of these
6) Simbalbara National Park is located in which among the following states?
a) Himachal Pradesh
b) West Bengal
7) Vadodara is located along the banks of which among the following rivers?
8) Elephanta Caves are situated in which state of India?
a) Tamil Nadu
c) Andhra Pradesh
9) Yakshagana is a famous dance of which Indian state?
c) Tamil Nadu
d) Andhra Pradesh
10) National Voters Day is celebrated in India on
a) 25th November
b) 25th January
c) 24th January
d) 24th July
e) 24th June
1) Answer: c)
National Company Law Appellate Tribunal (NCLAT) was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal(s) (NCLT), with effect from 1st June, 2016.
2) Answer: d)
Insolvency & Bankruptcy Board of India notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018. IBBI has mandated that a resolution professional should determine whether a corporate debtor indulged in fraudulent transactions within a specified time period during the resolution process. IBBI is based in New Delhi.
3) Answer: e)
The overall objectives of SEBI are to protect the interest of investors and to promote the development of stock exchange and to regulate the activities of stock market. The objectives of SEBI are:
- To regulate the activities of stock exchange.
- To protect the rights of investors and ensuring safety to their investment.
- To prevent fraudulent and malpractices by having balance between self regulation of business and its statutory regulations.
- To regulate and develop a code of conduct for intermediaries such as brokers, underwriters, etc.
4) Answer: c)
The term bad debt usually refers to accounts receivable (or trade accounts receivable) that will not be collected.
5) Answer: c)
Per capita income is the average income of the country. Per capita real income takes inflation into consideration.
6) Answer: a)
Simbalbara National Park is located in the Paonta Valley of Sirmour District, Himachal Pradesh along its border with Haryana. It was created in 1958 as the Simbalbara Wildlife Sanctuary and in 2010 it was made into a National Park. Goral, Sambhar and Chital are the common animals found here.
7) Answer: d)
Vadodara is a city in the Western Indian state of Gujarat. It is located on the banks of the Vishwamitri River.
8) Answer: b)
Elephanta Caves are a UNESCO World Heritage Site and a collection of cave temples predominantly dedicated to the Hindu god Shiva. They are located on Elephanta Island in Mumbai Harbour. In 1987, Elephanta Caves were designated a UNESCO World Heritage Site.
9) Answer: a)
Yakshagana is a traditional theatre form that combines dance, music, dialogue, costume, make-up, and stage techniques in regions of Karnataka. It is traditionally presented from dusk to dawn. Its stories are drawn from Ramayana, Mahabharata, Bhagavata and other epics from both Hindu and Jain traditions.
10) Answer: b)
To enroll new voters and encourage them to take part in the political process, Government of India has decided to celebrate January 25 every year as ‘National Voters’ Day’. It started from January 25th 2011 to mark Commission’s foundation day.