Read the following statements carefully:
Statement 1: India, Pakistan and China have similar physical endowments, but totally different political systems.
Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector.
Read the following statements carefully:
Statement 1: India, Pakistan and China have similar physical endowments, but totally different political systems.
Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector.
Show Hint
- Statement 1 is true and Statement 2 is false.
- Statement 1 is false and Statement 2 is true.
- Both Statements 1 and 2 are true.
- Both Statements 1 and 2 are false.
The Correct Option is A
Solution and Explanation
Statement 1: This is true as India, Pakistan, and China share similar geographical features, such as fertile plains and river systems, but their political systems differ significantly.
Statement 2: This is false because: India initially emphasized a mixed economy with a significant public sector. Pakistan also prioritized state-led initiatives, rather than focusing on creating a large private sector.
Top Questions on Debts
- The rate of interest payable on debenture is _____.
Read the following text carefully from ‘The Economic Times’ dated 8th June, 2023: “The Reserve Bank of India’s (RBI’s) rate-setting panel unanimously decided to keep the benchmark lending rate unchanged at 6.5%. The committee voted to remain focused on the withdrawal of accommodating monetary policy.” On the basis of the given text and common understanding, answer the following questions: Identify and discuss the economic issue indicated in the above text.
For a hypothetical economy, assume the government increased infrastructural investment by ₹10,000 crore. 80% of additional income is consumed in the economy. Estimate the increase in income and the corresponding increase in consumption expenditure in the economy.
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Questions Asked in CBSE CLASS XII exam
- Zaina, Yash and Kiran were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Zaina died on 1st July, 2024. As per the partnership deed, Zaina’s share of profit or loss till the date of her death was to be calculated on the basis of sales. Sales for the year ended 31st March, 2024 amounted to ₹ 4,00,000 and that from 1st April to 30th June, 2024 was ₹ 1,50,000. The profit for the year ending 31st March, 2024 was ₹ 1,00,000. Calculate Zaina’s share of profit in the firm till the date of her death and pass necessary journal entry for the same.
- CBSE CLASS XII - 2025
- Retirement and Death of a Partner
- A, B and C are partners sharing profits in the ratio 3:2:1. C retires and his share is taken equally by A and B. The goodwill of the firm is valued at Rs 60,000. Pass journal entry for goodwill adjustment without raising Goodwill A/c.
- CBSE CLASS XII - 2025
- CBSE Compartment XII - 2025
- Retirement and Death of a Partner
Manav and Namit were partners in a firm sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March 2024 was as follows:
Liabilities Assets Capitals: Machinery ₹8,00,000 Manav ₹4,00,000 Investments ₹5,00,000 Namit ₹6,00,000 Debtors ₹12,00,000 Bank Overdraft ₹9,00,000 Stock ₹3,00,000 Creditors ₹10,00,000 Cash in Hand ₹1,00,000 Total ₹29,00,000 Total ₹29,00,000 The firm was dissolved on the above date and the following transactions took place:
[(i)] Stock was given to creditors in full settlement of their account.
[(ii)] Investments were taken over by Manav at 120% of book value.
[(iii)] Bad debts amounted to ₹ 2,00,000.
[(iv)] Machinery was realised at 50% discount.
[(v)] Realisation expenses amounted to ₹ 1,00,000 which were paid by Namit.
Prepare Realisation Account.- CBSE CLASS XII - 2025
- Dissolution of Partnership Firm
- “Under the British rule, India underwent systematic economic exploitation with its resources and wealth being diverted to Britain.” Justify the given statement with valid explanation.
- CBSE CLASS XII - 2025
- Indian Economy
- What shows that Charley was clumsy and absent-minded? (The Third Level)
- CBSE CLASS XII - 2025
- The third level