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Business Services Test - 10

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Business Services Test - 10
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Weekly Quiz Competition
  • Question 1
    1 / -0
    E-banking promote ________.
    Solution
    E-banking lets the customer carry out cashless transaction through internet within a country, region and locality as well as across borders and continents which can be referred as international trade.
  • Question 2
    1 / -0
    According to Banking Companies Amendment Act 1994, the Government's share in the paid up capital of public sector banks has been reduced to _____.
    Solution
    According to Banking Companies Amendment Act 1994, the Government's share in the paid up capital of public sector banks has been reduced to 51%. This means, public sector should minimum hold the government's 51% share. For example: State Bank of India.
  • Question 3
    1 / -0
    What is the advantage of E-banking system?
    Solution
    Electronic Banking  helps with direct transaction of funds from one bank account to another which indirectly reduces the usage of cheque and related activities. E-banking system is available 24x7, this helps the consumer to operate according to their convenience. It is operational word wide and hence makes global transactions easier. 
  • Question 4
    1 / -0
    A credit facility is required to be treated as non-performing (NPI) _______.
    Solution
    A credit facility is required to be treated as non-performing(NPI) if interest or installment of principal are in arrears for any two quarters in the accounting year. In NPI, credit facilities granted to the borrower is to be treated as non-performing assets.
  • Question 5
    1 / -0
    Written communication is called _________.
    Solution
    C. correspondence
    A written  communication is usually in the form of a letter and is called business correspondence. It is a way by which any person who is related to the business expresses oneself. 
    He may also ask any doubts or queries through business correspondence. Any correspondence between two organizations or within an organization is referred to as business correspondence.  
    For example, a letter to the supplier, letter of inquiry, complaint letters, job applications, etc.


  • Question 6
    1 / -0
    The variables associated with credits policy are _____________.
    Solution
    Credit policy encompasses the policy of a company in respect of the credit standards adopted, the period over which credit is extended to customers any incentive in the form of cash discount can be utilized by the customers and the collection effort made by the company.
  • Question 7
    1 / -0
    Which of the following is not applicable in life insurance contact?
    Solution
    The contract of indemnity is defined as, " A contract where one party promises to save the other from the loss caused by the conduct of the promisor himself or by the conduct of any other party." In a life insurance contract, nobody can save the life of the person. Hence, contract of indemnity does not apply here.
  • Question 8
    1 / -0
    The general insurance corporation of India established under the ____________________.
  • Question 9
    1 / -0
    The person who presides over the meeting is called ___________.
    Solution
    Section 118 of the Companies Act refers to minutes of proceedings of general meetings and of Board and other meetings. It prescribes that the Chairman has to conduct the meeting of its Board of Directors and about the power of Chairman on inclusion of matters in minutes of meeting. With reference to the provisions of the Act and as stated in Articles of Association, as a matter of practice, the Chairman of a Company presides over the meetings of the board.
  • Question 10
    1 / -0
    A list of items to be transacted at the meeting is called ____________.
    Solution
    Agenda is the list of activities/business to be transacted in a meeting. It also sets out the order of these activities.
    Prospectus means any document described or issued as a prospectus and includes a red-herring prospectus or shelf prospectus or any notice, circular, advertisement or other document inviting offers from the public for the subscription or purchase of any securities of a body corporate.
    A Share Certificate is a document issued by the company to evidence the ownership of the person named in the Certificate with respect to the number of shares of the company as specified in the Certificate.

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