Quiz 2021: Prelims Power Play 13 February 2021

1. Base Erosion Profit Shifting is most closely related to

2. Consider the following statements:

1. In the first Lok Sabha, the single largest party in the opposition was the Swatantra Party.
2. In the Lok Sabha, a “Leader of the Opposition” was recognised for the first time in 1969.
3. In the Lok Sabha, if a party does not have a minimum of 75 members, its leader cannot be recognised as the Leader of the Opposition.

Which of the statements given above is/are correct?

3. With reference to the Indian economy, consider the following statements:

1. Commercial Paper is a short-term unsecured promissory note
2. “Certificate of Deposit is a long-term instrument issued by the Reserve Bank of India to a corporation
3. ‘Call Money’ is a short-term finance used for interbank transactions
4. ‘Zero-Coupon Bonds’ are the interest-bearing short-term bonds issued by the Scheduled Commercial Banks to corporations

Which of the statements given above is/are correct?

4. If the interest rate is decreased in an economy, it will

5. Consider the following regarding Cess

1. It is levied over taxes.
2. It is used for specific purposes.
3. It is not shared by center with states
4. It is levied only on direct tax.

Which of the above statements are correct? Choose the correct option