In the context of the Indian Financial System, the 'Deposit Insurance and Credit Guarantee Corporation' (DICGC) provides insurance coverage for bank deposits up to: MCQ with Answer and Explanation

Question
In the context of the Indian Financial System, the 'Deposit Insurance and Credit Guarantee Corporation' (DICGC) provides insurance coverage for bank deposits up to:
A. ₹1,00,000 per depositor per bank
B. ₹2,00,000 per depositor per bank
C. ₹10,00,000 per depositor per bank
D. ₹5,00,000 per depositor per bank
Answer: Option D
Solution (By JKSSB Mock Tests)
The DICGC insures all bank deposits (savings, fixed, current, recurring) up to a maximum limit of ₹5,00,000 per depositor per bank.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1
A company issued 10,000 shares of ₹10 each at par, payable ₹2 on application, ₹3 on allotment, ₹5 on call. A shareholder holding 500 shares failed to pay call money. Calls-in-arrears amount is:
A. ₹5,000
B. ₹1,000
C. ₹1,500
D. ₹2,500
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Call money unpaid = 500 shares * ₹5 = ₹2,500.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
A firm's assets ₹6,00,000, liabilities ₹1,00,000, normal rate 10%, average profit ₹75,000. Value of goodwill by capitalization of average profit method (total value less net assets) is:
A. ₹2,50,000
B. ₹1,50,000
C. ₹1,00,000
D. ₹75,000
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Capitalized value of average profit = 75,000 / 10% = ₹7,50,000. Net assets = 6,00,000 - 1,00,000 = ₹5,00,000. Goodwill = 7,50,000 - 5,00,000 = ₹2,50,000.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
In a BRS, when a cheque is issued but not presented, the cash book balance is:
A. Higher than the pass book balance
B. Equal to the pass book balance
C. Unaffected
D. Lower than the pass book balance
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Issuing a cheque immediately reduces the cash book balance, but the bank balance (pass book) remains high until the cheque is cleared.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Explore All Accountancy and Book Keeping MCQs
Today's Top Topics
Accountancy and Book Keeping 1861 Statistics 1318
Explore Subjects
Accountancy and Statistics 3179 Economy GK 2220 English 15164 Computer 5279 Current Affairs 575
Practice Mix
Which of the following is an indirect tax in India?
The valve between the left atrium and left ventricle is the:
A person faces north. He turns 45° left, then 90° right, then 45° left. Which direction is he facing?
Under the Income Tax Act, the 'TDS' on the sale of an immovable property (other than agricultural land) by a resident is governed by which section, and what is the rate?
In 'Piecemeal Distribution' during dissolution, the first priority for payment of outside liabilities is: