The 'Bank for International Settlements' was established in which year? MCQ with Answer and Explanation

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The 'Bank for International Settlements' was established in which year?

A. 1971

B. 1944

C. 1930

D. 1919

Answer: Option C

Solution (By JKSSB Mock Tests)

The Bank for International Settlements was established in 1930.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'four-sector economy' circular flow includes:

A. households, government, banks and firms

B. households, firms, government and banks only

C. households, firms, banks and foreign sector

D. households, firms, government and foreign sector

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Correct Answer: Option D

Explanation:
A four-sector economy includes households, firms, government and the external sector.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on ready-to-move-in property is:

A. 5%

B. 18%

C. 12%

D. not applicable

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Correct Answer: Option D

Explanation:
Ready-to-move-in property is not subject to GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST practitioner' is a person who:

A. sets GST rates

B. assists taxpayers in filing GST returns and compliance

C. collects taxes

D. audits GST revenue

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Correct Answer: Option B

Explanation:
A GST practitioner assists taxpayers in GST compliance and returns.

This question belongs to: Economy GK Economy Set 1

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