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Objective Questions

Latest IBPS RRB Officer Scale II CA Exam Question (Objective Questions), MCQ in English

Subjects : Professional Knowledge, Reasoning, Financial Awareness, English Language, Computer Knowledge, Quantitative Aptitude & Data Interpretation

Question Bank IBPS RRB Officer Scale II (CA) Exam - English
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Professional Knowledge

Question 1Single Answer
Which if the following is TRUE about the meaning of a bank?
  1. A
    It is a financial establishment
  2. B
    It acts like a financial intermediary
  3. C
    It accepts deposits from the public 
  4. D
    It provides safe locker facility
  5. E
    All the above
Question 2Single Answer
Which of the following is NOT true about the functioning of a bank ?
  1. A
    A bank should always add the word “bank” to its name.
  2. B
    They include general utility services and agency services.
  3. C
    A bank is a non-profit organization having service oriented approach.
  4. D
    A bank acts as a connecting link between borrowers and lenders of money.
  5. E
    A bank lends out money in the form of loans to those who require it for different purposes.
Question 3Single Answer
Which of the following is NOT a banking service?
  1. A
    Issuance of debit and credit cards
  2. B
    Providing safe custody of valuable items 
  3. C
    ATM services
  4. D
    Provision for higher interest rates to the accounts held by women
  5. E
    Online transfer of funds across the globe
Question 4Single Answer
The definition of Banking is given in which of the following ACTs?
  1. A
    Negotiable Instrument Act 1881
  2. B
    Reserve Bank of India (RBI) Act 1934
  3. C
    Banking Regulation Act 1949
  4. D
    Company Act 1956
  5. E
    None of the above
Question 5Single Answer
Banks in India are regulated by :
  1. A
    The Reserve Bank of India Act,1934
  2. B
    The Banking regulation Act,1949
  3. C
    The Reserve Bank of India (Amendment and Misc. Provisions) Act, 1953
  4. D
    The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980
  5. E
    None of the above
Question 6Single Answer
Which of the following is the apex financial institution in India ?
  1. A
    Reserve Bank of India
  2. B
    Securities and Exchange Board of India
  3. C
    Insurance Regulatory and Development Authority of India
  4. D
    Pension Fund Regulatory and Development Authority of India
Question 7Single Answer
The Reserve Bank of India is responsible for :
  1. A
    Issuing currency notes
  2. B
    Regulating the banking sector
  3. C
    Maintaining the country's foreign exchange reserves
  4. D
    All of the above
Question 8Single Answer
The Securities and Exchange Board of India (SEBI) is responsible for ?
  1. A
    Regulating the securities market
  2. B
    Protecting the interests of investors
  3. C
    Promoting fair and transparent trading practices
  4. D
    All of the above
Question 9Single Answer
The Insurance Regulatory and Development Authority of India (IRDAI) is responsible for :
  1. A
    Regulating the insurance sector
  2. B
    Protecting the interests of policyholders
  3. C
    Promoting fair and transparent insurance practices
  4. D
    All of the above
Question 10Single Answer
The Pension Fund Regulatory and Development Authority of India (PFRDA) is responsible for :
  1. A
    Regulating the pension sector
  2. B
    Protecting the interests of pension subscribers
  3. C
    Promoting fair and transparent pension practices
  4. D
    All of the above
Question 11Single Answer
What is the primary purpose of accounting?
  1. A
    To calculate profits
  2. B
    To record financial transactions
  3. C
    To prepare financial statements
  4. D
    To calculate taxes
Question 12Single Answer
Which of the following is NOT a branch of accounting?
  1. A
    Financial accounting
  2. B
    Cost accounting
  3. C
    Management accounting
  4. D
    Taxation accounting
Question 13Single Answer
Which of the following is an international accounting standard-setting body?
  1. A
    IASC
  2. B
    ICAI
  3. C
    IASB
  4. D
    SEBI
Question 14Single Answer
What is the full form of IAS in accounting?
  1. A
    International Accounting Standards
  2. B
    Internal Accounting Standards
  3. C
    International Audit Standards
  4. D
    Indian Accounting Standards
Question 15Single Answer
What is the main difference between financial accounting and management accounting?
  1. A
    Management accounting deals with internal reporting, while financial accounting deals with external reporting.
  2. B
    Financial accounting is more detailed than management accounting.
  3. C
    Management accounting is based on auditing principles.
  4. D
    Financial accounting focuses on cost control.
Question 16Single Answer
What is a ratio?
  1. A
    A comparison of two quantities by addition
  2. B
    A comparison of two quantities by division
  3. C
    A multiplication of two quantities
  4. D
    A subtraction of two quantities
Question 17Single Answer
How is the ratio 4:5 expressed as a fraction?
  1. A
    4/5
  2. B
    5/4
  3. C
    4 + 5
  4. D
    4 - 5
Question 18Single Answer
What is the ratio of 30 minutes to 2 hours?
  1. A
    1:4
  2. B
    4:1
  3. C
    1:2
  4. D
    2:1
Question 19Single Answer
How is a proportion defined?
  1. A
    An equality of two ratios
  2. B
    A difference between two ratios
  3. C
    A sum of two ratios
  4. D
    A product of two ratios
Question 20Single Answer
What does the proportion 2:3 = 4:6 imply?
  1. A
    2 + 3 = 4 + 6
  2. B
    2 × 6 = 3 × 4
  3. C
    2 - 3 = 4 - 6
  4. D
    2 ÷ 3 = 4 ÷ 6
Question 21Single Answer
What is the primary objective of setting accounting standards?
  1. A
    To minimize the tax liability of companies.
  2. B
    To ensure comparability and consistency in financial reporting.
  3. C
    To maximize the profits reported by companies.
  4. D
    To comply with the requirements of the Companies Act.
Question 22Single Answer
Which body is primarily responsible for formulating accounting standards in India?
  1. A
    Reserve Bank of India (RBI).
  2. B
    Securities and Exchange Board of India (SEBI).
  3. C
    Accounting Standards Board (ASB) of ICAI.
  4. D
    Ministry of Corporate Affairs (MCA).
Question 23Single Answer
What is the typical process followed by the ASB in setting accounting standards?
  1. A
    Issuing a standard directly after international consultation.
  2. B
    Identifying areas, forming a study group, preparing a draft, public consultation, and issuing the standard.
  3. C
    Adopting IFRS without any modifications.
  4. D
    Following the guidelines issued by the government.
Question 24Single Answer
What are International Financial Reporting Standards (IFRS)?
  1. A
    Accounting standards issued by the Indian government.
  2. B
    A set of accounting standards issued by the International Accounting Standards Board (IASB).
  3. C
    Guidelines for taxation of multinational corporations.
  4. D
    Rules for internal audit procedures.
Question 25Single Answer
What is the concept of convergence with IFRS in the context of Indian Accounting Standards?
  1. A
    Completely adopting IFRS without any changes.
  2. B
    Aligning Indian Accounting Standards with IFRS while considering local economic and legal conditions.
  3. C
    Ignoring IFRS and developing purely domestic standards.
  4. D
    Partially adopting some aspects of IFRS.
Question 26Single Answer
Interest income accruing outside India but received by a resident in India is taxable in India if he is:
  1. A
    A non-resident
  2. B
    A resident but not ordinarily resident
  3. C
    A resident who is ordinarily resident
  4. D
    Any resident
Question 27Single Answer
Income from a business controlled from India is taxable in the hands of a resident who is ordinarily resident even if it accrues or arises outside India, if:
  1. A
    The whole income is taxable
  2. B
    50% of the income is taxable
  3. C
    Only the income attributable to the control in India is taxable
  4. D
    The income is exempt
Question 28Single Answer
A foreign company is said to be resident in India if its place of effective management (POEM) in the previous year is:
  1. A
    In India
  2. B
    Outside India
  3. C
    Partly in India and partly outside India
  4. D
    Irrelevant for residency
Question 29Single Answer
An individual who has been a non-resident in India for 9 out of the 10 previous years preceding the relevant previous year is a:
  1. A
    Resident
  2. B
    Resident but Not Ordinarily Resident
  3. C
    Non-resident
  4. D
    Deemed resident
Question 30Single Answer
An individual who has been in India for a period of 730 days or more during the 7 previous years preceding the relevant previous year and also satisfies the basic condition for being a resident is a:
  1. A
    Non-resident
  2. B
    Resident who is Ordinarily Resident
  3. C
    Resident but Not Ordinarily Resident
  4. D
    Deemed resident
Question 31Single Answer
Which element of a firm’s system of quality control ensures that personnel possess adequate competence for audit engagements?
  1. A
    Human resources
  2. B
    Leadership responsibilities
  3. C
    Engagement performance
  4. D
    Monitoring
Question 32Single Answer
What complicates the implementation of ethical requirements in a multi-office audit firm?
  1. A
    Uniform professional standards
  2. B
    High variability in local regulations and cultures
  3. C
    Excessive staff training
  4. D
    Simplified independence policies
Question 33Single Answer
Under SA 220, what is the primary responsibility of the firm’s leadership for quality control?
  1. A
    Performing all audit procedures
  2. B
    Promoting a quality-oriented internal culture
  3. C
    Conducting client risk assessments
  4. D
    Reviewing all audit reports
Question 34Single Answer
Why is independence critical in the client acceptance process?
  1. A
    It ensures uniform audit procedures
  2. B
    It reduces audit fees
  3. C
    It simplifies audit planning
  4. D
    It mitigates risks of bias and conflicts of interest
Question 35Single Answer
What complicates the monitoring of a firm’s quality control system?
  1. A
    Uniform audit methodologies
  2. B
    Excessive compliance with standards
  3. C
    High variability in engagement complexity
  4. D
    Simplified remedial actions
Question 36Single Answer
Under the Income-tax Act, 1961, the term "person" includes?
  1. A
    An individual only
  2. B
    Only resident individuals
  3. C
    Only companies and firms
  4. D
    An individual, HUF, company, firm, AOP, BOI, local authority, and artificial juridical person
Question 37Single Answer
The "assessment year" as defined under the Income-tax Act, 1961, refers to?
  1. A
    The year in which tax is assessed and paid
  2. B
    The year in which income is earned
  3. C
    The calendar year preceding the previous year
  4. D
    The year in which the return is filed
Question 38Single Answer
The "previous year" under the Income-tax Act, 1961, is?
  1. A
    The year in which tax is paid
  2. B
    The calendar year preceding the assessment year
  3. C
    The financial year immediately preceding the assessment year
  4. D
    The year in which income is assessed
Question 39Single Answer
Which of the following is NOT one of the five heads of income under the Income-tax Act, 1961?
  1. A
    Income from Salaries
  2. B
    Income from House Property
  3. C
    Income from Other Sources
  4. D
    Income from Agricultural Land
Question 40Single Answer
The term "assessee" under the Income-tax Act, 1961, refers to?
  1. A
    Only non-residents
  2. B
    Only individuals filing income tax returns
  3. C
    Only companies liable to pay tax
  4. D
    A person by whom any tax or other sum of money is payable

Reasoning

Question 41Single Answer
Passage :
Direction: Study the given information carefully and answer the given question
P, Q, R, S, T, V, X and Y are seated in a straight line facing North. P sits fourth to the left of V. V sits either sixth from the left end of the line or fourth from the right end of the line. S sits second to the right of R. R is not an immediate neighbor of V. T and Q are immediate neighbours of each other but neither T not Q sits at extreme ends of the line. Only one person sits between T and X. X does not sit at the extreme end of the line
According to the passage, what is the main purpose of data protection laws ?
  1. A
    To ensure that foreign countries invest in research for drugs to treat diseases like TB
  2. B
    To attract Indian scientists back to the country
  3. C
    To prevent misuse of research to make profit by competing companies
  4. D
    To make clinical trials more acceptable to the public
  5. E
    None of these
Question 42Single Answer
‘Gram’ is relatd to ‘Mass’ in the same way as ‘Centimetre’ is related to
  1. A
    Area
  2. B
    Volume
  3. C
    Length
  4. D
    Sound
  5. E
    Energy
Question 43Single Answer
'Mustard' is related to 'Seed' in the same way as 'Carrot' is related to
  1. A
    Fruit
  2. B
    Stem
  3. C
    Flower
  4. D
    Root
  5. E
    None of these
Question 44Single Answer
Which of the following pairs of words have the same relationship as Fan : Heat?
  1. A
    Water        :           Drink
  2. B
    Light         :        Night
  3. C
    Teach       :      Student
  4. D
    Air             :        Breathe
  5. E
    Food         :        Hunger
Question 45Single Answer
'Radish' is related to 'Root', in the same way as 'Brinjal' is related to
  1. A
    Fruit
  2. B
    Stem
  3. C
    Flower
  4. D
    Root
  5. E
    None of these
Question 46Single Answer
'Jackal' is related to 'Carnivorous', in the same way as 'Goat' is related to
  1. A
    Omnivorous
  2. B
    Carnivorous
  3. C
    Herbivorous
  4. D
    Multivorous
  5. E
    None of these
Question 47Single Answer
Which of the following pairs has similar relationship as Run : Race?
  1. A
    Party : Dance
  2. B
    Study : Book
  3. C
    Lecture : Study
  4. D
    Enjoy : Journey
  5. E
    None of these
Question 48Single Answer
Which of the following has same relationship as that of Money : Wealth?
  1. A
    Pity : Kindness
  2. B
    Cruel : Anger
  3. C
    Wise : Education
  4. D
    Pride : Humility
  5. E
    None of these
Question 49Single Answer
Which of the following is related to ‘Melody’, in the same way as ‘Delicious’ is related to 'Taste'?
  1. A
    Memory
  2. B
    Highness
  3. C
    Tongue
  4. D
    Speak
  5. E
    Voice
Question 50Single Answer
Offhand’ is related to ‘Premeditation’ in the same way as ‘Above board’ is related to
  1. A
    Integrity
  2. B
    Honesty
  3. C
    Guide
  4. D
    Competition
  5. E
    None of these
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