The Negotiable Instruments Act was enacted in which year? MCQ with Answer and Explanation

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The Negotiable Instruments Act was enacted in which year?

A. 1872

B. 1949

C. 1881

D. 1934

Answer: Option C

Solution (By JKSSB Mock Tests)

The Negotiable Instruments Act was enacted in 1881 and governs cheques, bills of exchange and promissory notes.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'State Goods and Services Tax' is levied by:

A. RBI

B. central government

C. local bodies

D. state government

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Correct Answer: Option D

Explanation:
SGST is levied by state governments on intra-state supply.

This question belongs to: Economy GK Economy Set 1

Question #2

Selling costs are a distinguishing feature of which market structure?

A. Pure competition

B. Monopoly

C. Perfect competition

D. Monopolistic competition

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Correct Answer: Option D

Explanation:
Firms in monopolistic competition incur selling costs to differentiate their products and attract customers.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on life insurance premiums is:

A. 12%

B. 5%

C. 0%

D. 18%

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Correct Answer: Option D

Explanation:
Life insurance premiums attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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