A doubtful asset is one that has remained NPA for: MCQ with Answer and Explanation

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A doubtful asset is one that has remained NPA for:

A. up to 6 months

B. less than 90 days

C. more than 12 months

D. up to 12 months

Answer: Option C

Solution (By JKSSB Mock Tests)

A doubtful asset has remained NPA for more than 12 months.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of money supply, M3 is also known as:

A. Reserve money

B. Narrow money

C. High-powered money

D. Broad money

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Correct Answer: Option D

Explanation:
M3 is referred to as broad money and includes M1 plus time deposits with banks. Reserve money or high-powered money is the monetary base.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of a mixed economy?

A. Coexistence of public and private sectors

B. Complete government ownership of resources

C. Absence of government intervention

D. Complete private ownership of resources

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Correct Answer: Option A

Explanation:
A mixed economy is characterised by the coexistence of both public and private sectors, with government intervention to correct market failures.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the Indian tax system?

A. Only direct taxes

B. Both direct and indirect taxes

C. No progressive taxation

D. Only indirect taxes

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Correct Answer: Option B

Explanation:
The Indian tax system consists of both direct taxes (income tax, corporation tax) and indirect taxes (GST, customs duty), with progressive elements in direct taxes.

This question belongs to: Economy GK Economy Set 1

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