Financial Questions and Answers
General Knowledge Financial Questions with Answers test understanding of finance, banking, and the economy. Common in Banking, SSC, and MBA exams, these questions enhance knowledge about financial systems and markets
Financial
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100 questions
91. Auditor shall be punished with imprisonment for a maximum period of ……… under Section 539 for falsification in the books of accounts.
- 3 years
- 5 years
- 7 years
- 9 years
92. "Auditor is not an insurer." In which of the following cases, the decision has been given ?
- The Kingston Cotton Mills Co. Ltd. (1986)
- London & General Bank (1895)
- Allen Craig & Co. Ltd. (1934)
- Irish Woollen Co. Ltd.
93. The Section 80A of the Companies’ Act is related with the redemption of-
- Debentures
- Redeemable preference shares
- Irredeemable preference shares
- None of the above
94. Company Auditor is responsible-
- For directors
- For shareholders
- For public
- For creditors
95. In Balance Sheet, Audit Accounts are audited-
- Monthly
- Bi-monthly
- Annually or half yearly
- Quarterly
96. Audit adopted by banking company is-
- Continuous Audit
- Periodical Audit
- Internal Audit
- Balance Sheet Audit
97. Which of the following have lien of Company Auditor ?
- Books of Accounts of the Company
- Vouchers of the Company
- Auditor’s working paper
- All of the above
98. To appoint new auditor in place of retiring auditor, to adopt the procedure, which section of Companies’ Act, 1956 is applicable ?
- 223
- 224
- 225
- 226
99. "A company has a separate legal existence from its members." This principle was first laid down in case of-
- Saloman Vs. Saloman & Co. Ltd. (1897)
- Daimler Co. Ltd. Vs. Continental Tyre & Rubber Co. (1916)
- State of U. P. Vs. Renu Sagar Power Co. (1991)
- Santunu Roy Vs. Union of India (1989)
100. According to ownership, Government Company means ……… share.
- Whose paid-up share capital’s 48%, shares are owned by Governmen
- Whose paid-up share capital’s 49% shares are owned by Government
- Whose paid-up share capital’s 50% shares are owned by Government
- Whose paid-up share capital’s 51% shares are owned by Government