Explore topic-wise InterviewSolutions in Current Affairs.

‘Repo rate’ refers to the rate at which Reserve Bank of India lends money to commercial banks when there is lack of funds in the commercial banks.

‘Reverse Repo’ rate is a short term borrowing rate at which RBI borrows money from commercial banks.

Open market operations refer to sale of or purchase of government securities/bonds by the RBI in the open market.

Statutory liquidity ratio is the percentage of total deposits (25% or more) that the commercial banks have to maintain with RBI inform of cash, gold, government approved securities.

• Developmental Psychology: Mr. Mehta conducted a comparative study of physical and cognitive development during early childhood and late childhood.
• Child Psychology: Mr. Singh studied the impact of parental divorce on the social behaviour of a child.
• Social Psychology: Mrs. Joshi examined the effect of peer pressure on a person’s dressing style.
• Cognitive Psychology: Mr. Dsouza studied factors influencing the attention span of students during lectures.
• Experimental Psychology: Mr. Iyer studied the reactions of individuals in a laboratory to disgusting events.
• Abnormal Psychology: Mrs. Ajmera conducted a study on the genetic factors influencing depression.

(C) craft persons

Correct option is (A) 5-10 years

(D) All the above

Plastic is used instead of rubber

A few years back the then government introduced a scheme ‘Food for Work’. Many works were undertaken in our village. Digging out soil from ‘Cheruvus’ is one of those works. They used this soil to lay roads. They used quarry dust also in laying roads. Digging drainage canals was also a work in this scheme. But the labourers were given ‘rice’ instead of money.

One cannot lead their life only with rice. So they started exchanging the rice with money. As a result the purpose of the scheme got sidetracked. Even then we can say that this scheme helped the labourers in rural areas. These are helpful to them in non-crop season.

Answer is (B) Plastic

Edward was wide-eyed because Walt’s graphic telling of the fairy tale that he forgot all about his measles.

Walt earned his first money by drawing a sketch of a neighbour’s horse.

(b) Through his art, he would add in beauty to any story.

Walt was a very simple person with highly imaginative ideas. He was highly industrious and had many projects on hand. He possessed a complex character. He was a genius who had an uncanny ability to add an extra fillip to any story or imagination. He was a warm kindly personality, bringing fun and pleasure to all.

Walt Disney’s influence would never be finished. Even on his deathbed he was full of plans for the future. The future generations will continue to celebrate what he once described as ‘that precious, ageless something in every human being which makes us play with children’s toys and laugh at silly things and sit in the bathtub and dream.’

In the midst of all activities, Walt was stricken with a fatal illness. Although desperately ill and hospitalised, he was as full of plans for the future as he had been all his life.

A friend once asked Walt what he would do with all the money he had got after the success of Mickey. At that time, Walt said that he would fertilize (develop) that field (his studio) with it (the money).

Even the overwhelming success in the Disney’s fortunes did not change Walt. He remained the simplest of men. He hated parties, and his idea of a night out was just a burger and chilli at some little restaurant.

Walt involved himself in everything. During a story conference, the storyman was outlining a sequence called ‘How to ride a bicycle’, He referred to an incident saying ‘when you ride your bicycle’ Walt at once commented, ‘it is not possible for every kid to own a bicycle’ so he changed ‘your’ to ‘a’.

Walt earned his first nickel by drawing a sketch of his neighbour’s horse. He studied cartooning in Chicago. He started an animation company in Kansas City, which flopped.

At the age of 21, he tried his luck in Hollywood. He started a cartoon series called Alice in Cartoonland. It did not make much. Next was Oswald the Rabbit. Here he was deceived. The next was Mickey Mouse which met with astonishing success. He then never looked back.

Walt wanted to create something ‘which should look like nothing else on the earth’. And in July 1955 Disneyland opened. Since the first day, millions of people flocked to see the unique creation of Walt’s imagination. Like a kid with a big, shiny toy, Walt used to wander through the park, staring as happily as any tourist.

According to his brother, Walt was imaginative and industrious. The banker thought he was a wild man hell-bent for bankruptcy. To his brother he was an amazing kid full of impractical dreams.

Once Walt’s nephew had measles. Walt came and told him the story of Pinocchio. Walt’s telling the story was a genius performance. His eyes riveted his listener, his moustache twitched expressively, his eyebrows rose and fell and his hands moved with the grace of a musical conductor. Young Roy was so wide-eyed at Walt’s graphic telling of the fairy tale that he forgot all about his measles.

The term dividend is derived from the Latin word ‘Dividendum’ which means that which is to be divided. A dividend is the portion of the company’s earnings distributed to the shareholders decided and managed by the company’s board of directors. The dividend is a share of distributable profits of the company. A shareholder is entitled to receive the dividend when it is formally declared by the company.

Definitions:

• The Institute of Chartered Accountants of India has defined Dividend “as a distribution to shareholders out of profits or reserves available for this purpose”.
• The Supreme Court has defined it as “In case of going – concern, it means the portion of profits of a company, which is allotted to the holders of shares in a company”.

Features of Dividend:

• It is the portion of profits of the company paid to its shareholders.
• It is payable out of profits of the company.
• It is an unconditional payment made by the company.
• The company pays dividends to the equity shareholders and preference shareholders only.
• If the company has issued equity shares with differential rights as to dividend, the terms of issue of such shares will govern the rights of shareholders about receiving the dividend.
• A dividend cannot be declared out of capital.
• Recommendation of the Board of Directors is necessary for the declaration of dividends.
• The dividend is recommended and approved by the Board of Directors by passing a resolution at the Annual General Meeting.
• The previous year’s dividend cannot be declared if that particular year’s Annual Account has been approved in the AGM.
• Dividend once approved and declared by shareholders, creates a debt. It cannot be revoked.
• The dividend includes the interim dividend.
• The dividend must be paid in cash, cheque or transferred through ECS or NEFT and not in kind.
• The dividend is to be paid on the paidup value of shares.
• Dividend cannot be paid on calls paid in advance.

(a) Yes, because preference shares are entitled to the dividend before it is paid to the equity shareholder. Equity shareholders get dividends from residual profits i.e. after paying to preference shareholders.

(b) Yes for declaration of final divided Approval of AGM is a must.

(c) Yes, the company pay a dividend in cash and not in kind.

False

Explanation: A bill of exchange is not signed by the person on whom it is drawn (i.e. the drawee). Rather, it must be signed by the drawer (i.e. the maker) of the bill.

Drawee

Explanation: The person on whom the bill is drawn, and who is required to pay the amount mentioned in the bill, is called drawee. He is the purchaser or the debtor and is liable to make payment to the drawer.

(a) The interim dividend is paid out of profits between two annual general meetings. It cannot be paid out of any reserves. So it is not justified.

(b) No Board cannot declare an Interim dividend out of free reserves.

(c) No Board cannot declare out of capital.

A bill of exchange drawn and payable within a country is known as inland bill of exchange.

Drawer

Explanation: He is the seller or creditor entitled to receive money from someone. He writes or draws the bill and is known as drawer. The bill of exchange is signed by the drawer of the bill.

(a) The interim dividend must be transferred to the Dividend Account within 5 days of its declaration.

(b) The interim dividend should be paid within 30 days of its declaration to shareholders.

(c) Unpaid/unclaimed Interim dividend should be transferred to ‘Unpaid Dividend Account’ within 7 days of the expiry of 30 days of declaration i.e. 37 days of its declaration.

When a company lists its shares on Stock Exchange, additional listing agreements are to be followed which are as follows:

• Stock exchange should be informed if the securities are listed 2 days prior to the Board meeting in which recommendation of final dividend is to be considered.
• Stock Exchange should be informed immediately regarding the declaration of dividend as soon as the Board meeting gets over.
• Notice of closing book should be informed at least 7 (seven) working days before the closure to the stock exchange.
• Transfer Register and Register of Members should be closed.

C) Spotted Chital Deer

A partner retiring from a firm, i.e. ceasing to be a partner of the firm due to agreement between them or at his own will or due to any other reason, is called a retiring partner.

A bill of exchange drawn in one country and payable in another is known as foreign bill of exchange.

The amount of the bill is payable either on demand or on the expiry of the fixed period mentioned in the bill.

The Due Date of a Bill of Exchange is the date on which it is falling due for payment by the drawee.

The date on which the term i.e. the period of a bill of exchange gets expired is called Nominal Due Date.

The period for which the bill of exchange is drawn and accepted is called the term of the bill of exchange.

True

Explanation: When the drawee makes the payment of the bill before its due date, it is known as retiring the bill. In such cases, the holder of the bill usually allows discount, which is known as rebate.

This statement is False.

Inland bill means, a bill drawn, accepted, and made payable within the territory of one and same, country. So, a bill is drawn in one country and payable in another country can’t be an inland bill.

This statement is True.

To get the payment of the bill from the acceptor, the holder of the bill is required to present it to the acceptor on its due date. Acceptor either honours the bill or dishonours the bill.

Notary Public

Explanation: Notary Public is an officer appointed by the Central or State Government and has the power of noting Negotiable Instruments at the time of their dishonour.

Retirement

Explanation: A bill is said to be retired when the acceptor of a bill expresses his willingness to make the payment of the bill before its due date. In such cases, the holder of the bill generally allows a discount to the drawee, which is called rebate. This rebate is a gain for the party that makes the payment (i.e. the drawee) and is expense to the party receiving the payment (i.e. the drawer).

If the drawee of a bill of exchange accepts it on condition that the time or amount of the bill is changed or adds some other conditions to the bill, his acceptance is called a Qualified Acceptance.

False

Explanation: Noting charges are paid to the Notary Public, who makes a note of the fact that the acceptor has refused to make the payment on the bill of exchange, i.e. the bill has been dishonoured.

This statement is False.

Acceptance of the bill with some changes as regards the terms, amount, place, etc. of a bill is known as qualified acceptance. Acceptance of the bill without making changes as regards the term is called general acceptance.

i. Grace days

ii. Noting Charges

iii. Payee

iv. Endorsee

v. Notary Public

Noting charges

Explanation: When a bill is presented for payment and the acceptor fails to make the payment, the bill gets dishonoured. In order to keep a legal proof of such dishonour, the bill is noted by the Notary Public (who is approved by the government). In exchange for the notary service, the Notary Public charges fees known as noting charges.