Q. A decision package includes…………..justification for budget estimates of an activity.
✅ Correct Answer: (A)
Comprehensive
Financial Services MCQs and Notes
Q. Zero-based budgeting was introduced for the first time in a government system by …………………..
✅ Correct Answer: (A)
Jimmy Carter
Q. A system of zero-based budgeting was first introduced formally in the United States Department of Agriculture in preparing its budget.
✅ Correct Answer: (A)
Fiscal year
Q. The second approach in the application of Zero-based Budgeting (ZBB) is to identify and remove duplication or expenditure.
✅ Correct Answer: (A)
Multiplication
Q. Budgeting requires eliminating redundant expenditure that no longer serves any clearly defined purpose.
✅ Correct Answer: (A)
Zero based
Q. As a discipline to be one of the most important element in the business world where money is almost everything.
✅ Correct Answer: (A)
Accounting
Q. The first bank to set up a separate merchant banking division in India.
✅ Correct Answer: (A)
Punjab national bank
Q. …………….banks can borrow from the Reserve Bank of India based on the eligible securities or get the financial assistance in times of need by rediscounting bills of Exchange.
✅ Correct Answer: (A)
Scheduled Banks
Q. The LIC was Establishment on……………..
✅ Correct Answer: (A)
1st Sep 1956
Q. ………… means indemnity or protection against risk of loss by spreading the risk over a number of a person, who are exposed to it and who is agree to insure themselves against risk.
✅ Correct Answer: (A)
Insurance