The 'base erosion and profit shifting' framework is an initiative of: MCQ with Answer and Explanation

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The 'base erosion and profit shifting' framework is an initiative of:

A. WTO

B. IMF

C. OECD and G20

D. World Bank

Answer: Option C

Solution (By JKSSB Mock Tests)

BEPS is an OECD/G20 initiative against tax avoidance by multinational enterprises.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' replaced which of the following central taxes?

A. Income tax

B. Corporate tax

C. Service tax

D. Wealth tax

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Correct Answer: Option C

Explanation:
GST subsumed service tax.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of banking regulation, Basel norms primarily deal with:

A. Capital adequacy, risk management and supervision of banks

B. Interest rate determination

C. Exchange rate management

D. Fiscal deficit targets

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Correct Answer: Option A

Explanation:
Basel norms (Basel I, II, III) are international banking regulations that set standards for capital adequacy, stress testing and market liquidity risk.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Periodic Labour Force Survey' is conducted by:

A. NITI Aayog

B. RBI

C. Ministry of Labour

D. National Statistical Office

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Correct Answer: Option D

Explanation:
The Periodic Labour Force Survey is conducted by the National Statistical Office.

This question belongs to: Economy GK Economy Set 1

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