Practice Accounts Questions and Answers

• Under the MSE-CDP Scheme, what is the Government of India subsidy percentage for new Common Facility Centres (CFCs) with a project cost between ₹5–10 c...
• Under MSE-CDP, what is the maximum percentage of the project cost that may be allocated for land cost in CFC projects?
• A loan given to an entity with investment in plant and machinery up to ₹5 crore and turnover up to ₹50 crore will be classified under which category?
• An Indian citizen who stays in India for less than how many days during a financial year is considered a Non-Resident Indian (NRI)?
• In India, the primary legal framework for Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) is provided by _________. 
• According to RBI's KYC Directions, if KYC/AML standards differ between RBI and a host country regulator for foreign branches of Indian banks, which standar...
• Which document or act allows the RBI to issue specific KYC Directions to ensure public interest?
• Under the RBI’s KYC guidelines, “beneficial owner” for a company is identified as_________.
• According to RBI, which of the following is considered an “Officially Valid Document” (OVD) for KYC purposes?
• In the context of wire transfers, who is defined as the “Beneficiary” according to RBI’s KYC guidelines?
• According to RBI’s KYC Directions, which account type can have relaxed identification requirements under specific circumstances?
• What is the role of the Financial Action Task Force (FATF) in the context of global financial regulations?
• Which of the following risk assessment measures is required by Regulated Entities (REs) for monitoring and managing money laundering (ML) and terrorist fin...
• If an individual is unable to pay back the overdraft taken by him it is known as
• Byron Ltd reported 32000 in earnings during the current financial year. The total shares outstanding are 40000 at a market price of 18 per share. What is B...
• From the following details, calculate interest coverage ratio: Net Profit after tax Rs. 60,000; 15% Long-term debt 10,00,000; and Tax rate= 40%
• The Risk-Based Internal Audit (RBIA) system is mandated for
•   What is the full form of CMA Report in terms of appraisal process at banks
• Which of the following are the components that are required to be estimated for credit risk quantification? 1. Probability of default 2. Expected Loss 3. E...
• A charge in or upon any movable property, existing or future, created by a borrower in favor of a secured creditor without delivery of possession of the mo...
• Expand CRILC
• A loan granted for short duration crops will be treated as NPA, if the instalment of principal or interest thereon remains overdue for ________
• What does C in MCLR stand for?
• Credit Information Bureau (India) Limited CIBIL is India’s credit information bureau which provides consumers credit scores to a closed user gro...
• You are an analyst working in the finance department of a large corporation. Your team is tasked with evaluating the company's total debt service costs for...
• Which of the following best describes the meaning of reverse repo rate?
• Which risk is a bank facing due to the mismatch between its assets and liabilities tenure?
• What does ETF stand for in Bharat Bond ETF?
• The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has been set up by the Government of India, with which of the following?
• What is the minimum Capital adequacy Ratio (CAR) requirement for a scheduled commercial bank as given by RBI?
• The SARFAESI Act also provides for the establishment of ARCs regulated by RBI. What is the full form of ARC?
• Which of the following correctly defines a Bridge Loan?
• What is the minimum amount of loan outstanding of a borrower or a guarantor who has committed wilful default , to be known as a Wilful defaulte r?  
• A general insurance company has the following balances: Current Assets = ₹12 lakh, Inventories = ₹2 lakh, Bank overdraft = ₹1.5 lakh, Other Current L...
• As per the Indian Accounting Standards, a company enters into a lease for a building for 9 years, and the building's useful life is 10 years. The contract ...
• A company has a Net Operating Profit After Tax (NOPAT) of ₹60 lakh. Its total capital employed is ₹400 lakh and Weighted Average Cost of Capital (WACC)...
• An insurance company enters into an agreement with another insurer to transfer a portion of its risk portfolio relating to catastrophic losses. This agreem...
• ABC Ltd., a manufacturing company, undertook a series of transactions during the financial year 2024–25. It purchased a new plant worth ₹1,000 lakh and...
• National Insurance Company reported a total premium collection of ₹800 crore for FY2023. During the same period, the company paid out claims amounting to...
• An insurance investment plan offers a maturity value of ₹5,00,000 after 5 years. If the opportunity cost of capital is 9% compounded annually, calculate ...