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

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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

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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

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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

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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

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