Indian Economy-GK Practice MCQ Questions – 04 Posted on July 15, 2020July 15, 2020 by admin Question 1The central co-operative banks are in direct touch with A. farmers B. state co-operative banks C. land development banks D. central government Question 2States earn maximum revenue through A. land revenue B. custom revenue C. commercial taxes D. excise duties on intoxicants Question 3In the state of India, the State Financial Corporation have given assistance mainly to develop A. agricultural farms B. cottage industry C. large-scale industries D. medium and small-scale industries Question 4Which of the following items would not appear in a company's balance sheet? A. Value of stocks of raw materials held B. Total issued capital C. Revenue from sales of the company's products D. Cash held at the bank Question 5The first wholly Indian Bank was set up in A. 1794 B. 1894 C. 1896 D. 1902 Question 6Debenture holders of a company are its A. shareholders B. creditors C. debtors D. directors Question 7Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfers are A. tax sharing B. grant-in-aids C. loans D. All the above Question 8If the cash reserve ratio is lowered by the RBI, its impact on credit creation will be to A. increase it B. decrease it C. no impact D. None of the above Question 9The currency convertibility concept in its original form originated in A. Wells Agreement B. Bretton Woods Agreement C. Taylors Agreement D. None of the above Question 10Excise duty is a tax levied on the A. import of goods B. export of goods C. production of goods D. sale of goods