The 'Reserve Bank of India' (RBI) regulates: MCQ with Answer and Explanation

Question
The 'Reserve Bank of India' (RBI) regulates:
A. Stock exchanges
B. Pension funds
C. Insurance companies
D. Monetary policy, banking, and financial system stability
Answer: Option D
Solution (By JKSSB Mock Tests)
RBI is the central bank responsible for monetary policy and banking regulation.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
The 'Tax Invoice' under GST must be issued:
A. Quarterly
B. Before or at the time of removal/delivery of goods; for services, within 30 days
C. Monthly
D. Within 30 days of supply of goods
Discuss
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Correct Answer: Option B

Explanation:
For goods, invoice is issued before/at the time of supply; for services, within 30 days (45 days for banks/insurance).
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The 'Comptroller and Auditor General' (CAG) is appointed by:
A. President of India
B. Prime Minister
C. Parliament
D. Finance Minister
Discuss
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Correct Answer: Option A

Explanation:
CAG is appointed by the President under Article 148.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
Under 'Finance Lease', the lessee records the leased asset in his books as per:
A. AS 6
B. AS 19
C. AS 2
D. AS 10
Discuss
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Correct Answer: Option B

Explanation:
AS 19 Leases requires lessee to capitalize finance lease.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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