Question
Consider the following statements regarding the
Monetary Policy Committee (MPC): I. It is constituted under the Banking Regulation Act,1949. II. It consists of 6 members. III. Union Finance Minister acts as its ex officio chairperson. Which of the statements given above is/are correct?Solution
Under the RBI, Act,1934 (RBI Act,1934) (as amended in 2016), RBI is entrusted with the responsibility of conducting monetary policy in India with the primary objective of maintaining price stability while keeping in mind the objective of growth. RBI Act, 1934 empowers the Central Government to constitute a six-member Monetary Policy Committee (MPC). RBI Governor acts as its ex-officio chairperson.
Under Section 16 of the CGST Act, 2017, which of the following is NOT a valid condition for availing Input Tax Credit (ITC)?
In order to convert a proposal into a promise the acceptance must be:
Which of the following statements regarding an auditor's responsibilities is FALSE?
With respect to Job Costing, which of the following statement is incorrect?
Following is/are the feature of Exchange traded contract:
I.        It is highly customized
II.        It has margi...
The arrangement of assets and liabilities in accordance with a particular order is known as of balance sheet.
Income arising from the transfer of an asset before 1- 4 - 61, which was not revocable for a period exceeding ______, is not includible in the total inc...
A company incurs heavy advertising expenditure of ₹2 crore in launching a new product. It wishes to defer the expense over 4 years. As per accounting ...
Which initiative focuses specifically on promoting women entrepreneurs in the MSME sector?
Which of the following is an example of pure risk?
