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Choose the right answer from the given options.
Important for :
1
The exchange of commodities between two countries is referred as 
» Explain it
B
The exchange of goods between two countries is termed as Bilateral trade. Bilateral trade agreements give preference to certain countries in commercial relationships, facilitating trade and investment between the home country and the foreign country by reducing or eliminating tariffs, import quotas, export restraints and other trade barriers.

Hence, the option B is correct.
 
2
» Explain it
B
Industrial Sector has been highest tax payer in India. 
 
For Example: India has been developing country over the years because of highest tax payer in India like Film Industry, Information Technology Enabled Service Industry etc. 

Hecne, the option B is correct,
 
3
Which of the following is a receipt listed in India and traded in rupees declaring ownership of shares of a foreign company?
» Explain it
A
An Indian Depository Receipt (IDR) is a financial instrument denominated in Indian Rupees in the form of a depository receipt created by a Domestic Depository against the underlying equity of issuing company to enable foreign companies to raise funds from the Indian securities Markets.
 
Domestic Depository is a custodian of securities registered with the Securities and Exchange Board of India.
 
For example:
 
A foreign company can access Indian securities market for raising funds through issue of Indian Depository Receipts (IDRs).

Hence, the option A is correct.
 
4
According to provisions of the Income Tax Act, 1961 a resident individual is categorized as a ‘very senior citizen’ when he is
» Explain it
A
Under the Income-tax Act, 1961, a 'Senior Citizen' has been defined as an individual who attains the age of 60 years at any time during a financial year, while an individual who is 80 years or more is categorised as 'Very Senior Citizen'.

Hence, the option A is correct.
 
5
A type of fraud wherein criminals trick an innocent person to share his or her a/c details to carry out financial transactions is known as:
» Explain it
E
Phishing is the illegal attempt to obtain sensitive information such as usernames, passwords, and credit card details, often for malicious reasons, by masquerading as a trustworthy entity in an electronic communication.
 
General Studies Economics

Hence, the option E is correct.