A demat account is used for: MCQ with Answer and Explanation

Question

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A demat account is used for:

A. trading only in commodities

B. holding foreign currency

C. banking transactions only

D. holding shares in electronic form

Answer: Option D

Solution (By JKSSB Mock Tests)

A demat account holds securities in electronic form.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax Network' was created as a:

A. statutory body

B. special purpose vehicle

C. constitutional body

D. government department

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Correct Answer: Option B

Explanation:
GSTN was created as a special purpose vehicle to provide IT infrastructure for GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Purchasing Managers' Index' for India is compiled by:

A. NSO

B. RBI

C. SEBI

D. S&P Global and other agencies

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Correct Answer: Option D

Explanation:
India's PMI is compiled by S&P Global and other agencies.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' on pasta and noodles is:

A. 5%

B. 12%

C. 28%

D. 18%

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Correct Answer: Option D

Explanation:
Pasta and noodles attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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