The 'Annual Information Statement' in income tax is: MCQ with Answer and Explanation

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The 'Annual Information Statement' in income tax is:

A. a statement of taxes only

B. a bank statement

C. a statement of specified financial transactions

D. a statement of foreign travel

Answer: Option C

Solution (By JKSSB Mock Tests)

AIS is a statement of specified financial transactions.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'capability approach' to development was propounded by:

A. Amartya Sen

B. W.W. Rostow

C. Arthur Lewis

D. Milton Friedman

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Correct Answer: Option A

Explanation:
Amartya Sen propounded the capability approach to development.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'TReDS' platform is meant for:

A. foreign exchange trading

B. commodity futures

C. financing of receivables of MSMEs

D. trading government securities

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Correct Answer: Option C

Explanation:
TReDS is an electronic platform for financing trade receivables of MSMEs from corporate buyers.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is classified under the primary sector?

A. Mining

B. Transport

C. Banking

D. Automobile manufacturing

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Correct Answer: Option A

Explanation:
The primary sector includes agriculture, mining, fishing and forestry.

This question belongs to: Economy GK Economy Set 1

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