UPSC ONLINE ACADEMY

APFC SET-2 – 5 QUESTIONS (FRAMED FROM WIKEPDIA & OTHER SOURCES

Q.1 Consider the following statement s:

1.Wages paid for installation of Machinery is debited to the Installation Account

2. Installation account is the part of the cost of machinery which is a fixed asset

Select the correct answer using the codes given below :

A) Only 1

B) Only 2

C) Both are correct

D) Both are incorrect

View Answer

Ans. B

Wages paid for installation of Machinery is debited to the Machinery  Account

Q.2 With reference to the Trade Union Act 1926, consider the following :

1. Registration of trade Union is made compulsory under this Act

2. As per this Act, No trade union of workmen shall be registered unless at least 5%is engaged or employed in establishment

Select the correct answer using the codes given below :

A) Only 1

B) Only 2

C) Both are correct

D) Both are incorrect

View Answer

Ans. D

Registration of trade Union is NOT made compulsory under this Act

As per this Act, No trade union of workmen shall be registered unless at least 10% or 100 of workmen is engaged or employed in establishment

Q.3  With reference to the Contract Labour Act 1970, consider the following :

1. This act is not applicable to all the establishments

2. It applies to every contractor employing twenty or more workmen

Select the correct answer using the codes given below :

A) Only 1

B) Only 2

C) Both are correct

D) Both are incorrect

View Answer

Ans. C

Contract Labour Act 1970 : This Act may be called the Contract Labour (Regulation and Abolition) Act, 1970. (2) It extends to the whole of India. (a) to every establishment in which twenty or more workmen, art employed or were employed on any day of the preceding twelve months as contract labour.

Q.4 Which among the following is the Public Sector Insurance Company ?

1.General Insurance Corporation of India

2.The New India Assurance Company Limited

3. SBI Life Insurance

4. United India Assurance Company

Select the correct answer using the codes given below :

A) 1,2,4

B) 2,3,4

C) Only 2 & 3

D) All are correct

View Answer

Ans.  A

Public Sector Insurance Company :

1.General Insurance Corporation of India

2.The New India Assurance Company Limited

3. United India Assurance Company

Q.5  With reference to the Payment of Wages Act 1936, consider the following :

1. This Act applies to all whose wages exceed 21000 rupees per month

2. The total amount of fine imposed on any employed person shall  not exceed an amount equal to 3% of wages

Select the correct answer using the codes given below :

A) Only 1

B) Only 2

C) Both are correct

D) Both are incorrect

View Answer

Ans. B

This Act applies to all whose wages exceed 24000 rupees per month

The total amount of fine imposed on any employed person shall  not exceed an amount equal to 3% of wages

Leave A Comment