The 'Form 16' is issued by an employer to an employee and shows: MCQ with Answer and Explanation

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The 'Form 16' is issued by an employer to an employee and shows:

A. salary paid and tax deducted

B. stock holdings

C. loan details

D. bank account balance

Answer: Option A

Solution (By JKSSB Mock Tests)

Form 16 shows salary and TDS details.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The concept of 'Opportunity Cost of Holding Money' is related to:

A. The cost of banking services only

B. The cost of printing money

C. The cost of producing goods

D. The interest forgone by holding cash instead of interest-bearing assets

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Correct Answer: Option D

Explanation:
The opportunity cost of holding money is the interest income that could have been earned by holding interest-bearing assets instead of cash.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'International Financial Services Centres Authority' was established in India in which year?

A. 2020

B. 2021

C. 2015

D. 2019

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Correct Answer: Option A

Explanation:
IFSCA was established in 2020.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'RTGS' system in India is used for transactions of minimum amount:

A. Rs 5,00,000

B. Rs 2,00,000

C. Rs 1,000

D. Rs 10,00,000

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Correct Answer: Option B

Explanation:
RTGS minimum amount is Rs 2,00,000.

This question belongs to: Economy GK Economy Set 1

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