GLO_CWM_LVL_1

Which of the following is allowed as deduction from net annual value of a property?A . Repairs & collection chargesB . Insurance premiumC . Interest on loan borrowed for repairsD . All the aboveView AnswerAnswer: C

IFSC stands for:A . Inter-bank Financial Sector CodeB . Inter-bank Funds Settlement codeC . Inter-bank Financial Service CodeD . None of the aboveView AnswerAnswer: B

Surender the driver causes injuries to a pedestrian by rash driving of car. The injured victim had to spend Rs.1000 in treating his injuries. Surender ‘s act has created liabilities underA . Common lawB . ContractC . Statue and Common lawD . Statute onlyView AnswerAnswer: C

For a “single income family” priority is onA . Protecting income via a term planB . Investing in commodities to grow wealthC . Investing in Mutual Funds to grow wealthD . None of the aboveView AnswerAnswer: A

A public trust is created for the benefit ofA . Individuals onlyB . Family memberC . Uncertain and fluctuating body of personsD . Charitable purposes onlyView AnswerAnswer: C

Any amount payable and the amount of refund due under the Income Tax Act,1961 shall be rounded off to the nearest multiple of..........?A . Rs. 10B . Rs. 1C . Rs. 100D . No rounded off is doneView AnswerAnswer: A

Under the Provisions of Transfer, of Property Act, the unborn child acquires vested interest-A . Upon his birthB . 7 days after his birthC . 12 days after his birthD . 18 years after his birthView AnswerAnswer: A

Unabsorbed depreciation can be carried forward for ____________.A . 8 YearsB . 4 YearsC . IndefiniteD . NoneView AnswerAnswer: C

What is the minimum amount one can deposit in a PPF account in a financial?A . Rs. 400 per annumB . Rs. 500 per annumC . Rs. 100/-per annumD . Rs. 5/-per annumView AnswerAnswer: B

SHG stands for:A . Society Housing GroupB . Society Household GroupC . Self House GroupD . Self Help GroupView AnswerAnswer: D