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You can also find MCQ’s on other topics on Labour Law here, Copyright SpeakHR.com I Designed by Neve | Powered by WordPress. external equity : internal equity: neutrality: None of the above : Payment of cash rewards for the work extracted from the employee is normally called : direct compensation : indirect compensation : non-monetary compensation : None … I am sure these MCQ’s will give much clarity about various concepts of this Act. a. The Code on Wages, 2019 replaces the four laws: (i) the Payment of Wages Act, 1936, (ii) the Minimum Wages Act, 1948, (iii) the Payment of Bonus Act, 1965, and (iv) the Equal Remuneration Act, 1976. XI OF 1948) [15 March 1948] An Act to provide for fixing minimum rates of wages in certain employments WHEREAS it is expedient to provide for fixing minimum rates of wages in certain employments; It is hereby enacted as follows :- 1. Compensation management is one of the major concern in HRM. 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DALAL –J.M.PATEL COLLEGE OF COMMERCE- INCOME TAX – SEMESTER V-INTRODUCTION & DEFINITION Objective Questions Multiple Choice Questions 1. Page-7 section-1 18, 000/- (D) Rs. Q2] A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. (a) At a time rate higher than the usual rate (b) According to his efficiency (c) At a double rate for overtime (d) Normal wages plus bonus. 500; 1000 ; 100; 300; Answer : A. a. The national income of a country for a given period is equal to the. the sum of wages, salaries, commissions, bonuses and other forms of employees earnings before deduction of any taxes or social security contributions, net income from royalties and rentals, interest income and profits of a corporation, partnership or proprietorship . NNP means A) GDP – depreciation B. GDP + depreciation C. NNP – depreciation D. GNP – depreciation 3. 1 The average income of a country is called A Per capita income. C.Consumer’s income. 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Minimum wages for a farm labourer set by the government is (a) ₹80 (b) ₹90 (c) ₹115 (d) ₹120. (A) Rs.72350 (B) Rs.93293 (C) Rs.85261 (D) Rs.103007. In case the employee is removed, dismissed, retrenched, resigns or becomes unemployed due to closure of an establishment, the wages are required to be paid within two working days. Minimum Wage: International Labour Organisation defines it as “the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by collective agreement or an individual contract”. B Profit push. We have Provided Judiciary Class 8 Civics MCQs Questions with Answers to help students understand the concept very well. General provisions regarding lay-off are given in the industrial disputes act, 1947 in its : Ans. Which of the below is not a part of indirect compensation, a. Each question carries one mark.1. ANSWER: b. MULTIPLE CHOICE QUESTIONS ... 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Percentage of income from growing & manufacturing tea in India is considered as agricultural income-(A) 50% (B) 60% (C) 65% (D) 70% 16. According to Taylor’s Differential plan, the worker is paid according to his? Agricultural income is not integrated with non-agricultural income in case of-(A) Firm (B) Cooperative society (C) Individual (D) A & B both. This contains 20 Multiple Choice Questions for UPSC Test: Income Determination - 2 (mcq) to study with solutions a complete question bank. 3. Compensation is a systematic approach to providing monetary value to employees in exchange for ___________________________, a. C No change in total revenue. Disposable income C. Inflation rate D. Real national income. 1934 b. Section 17 C. Section 10 D. Section 45 (2) 2. 10. Income tax paid by a sole proprietor on his business income should be: a) Debited to trading account b) Debited to profit and loss account c) Deducted from capital account in the balance sheet d) None of the above 40.All direct & indirect expenses related to business are charged: a) Profit and loss account b) Trading account 1. National Income Multiple Choice Questions :- MCQs. The minimum wage is in effect - and you have a right to it. Wrong! c) Increase in nominal national income. To increase or maintain morale                       b. Answer :- c. 2. 100 members owed a balance of one month’s subscription. The constitution of India empowers_____ to levy tax on income (a) State Government (b) Central Government (c) Parliament (d) Finance Minister 2. What the countries with per capita income of US $12,056 per annum and above (in 2017) are called? The answers are also given for your reference. Sorry, your blog cannot share posts by email. (d) The average income includes the value of property held. The Age Of Industrialisation Class 10 MCQ Question 1. However there are many sections in the Act which needs to be taken care of by the industries. Direct Compensation                                                                 b. Kyle Fruity has a yogurt producing business. “Rest of the world” is the major element in Other things equal, if a good has more substitutes, its price elasticity … a) … The person who got people … Compensation management is one of the major concern in HRM. MCQ Questions for Class 9 Social Science with Answers were prepared based on the latest exam pattern. … Salaries posted anonymously by McQ employees. 0. His salary is due on last day of every month. 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Check the below NCERT MCQ Questions for Class 9 Economics Chapter 1 The Story of Village Palampur with Answers Pdf free download. At present, how much is India's Per Capita Income (based on market prices)? Hence here we have discussed MCQ’s on Payment of Wages Act under various topics like Time of payment, Payment in Kind, Fixation of Wages etc. … 2. Income includes - A. View Answer. Sec. There must be a transfer of such capital asset. These multiple choice questions on National Income are very important for SSC, Bank, Railways, UPSC exam etc. View Answer … 39. To determine basic wage & salary, c. To improve the performance                             d. To reward for job performance. B COM SEMESTER 6- MCQ INCOME TAX - II 1. The financial statements such as a statement of cash flows and the income statement along with balance sheet are used to prepare and analyse the financial status of a company. Lay-Off. 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The Latest exam Pattern 12 Chapter Wise with Answers d. income concentration to. — ( a ) Degree of understanding ( c ) Rs.85261 ( )... Life like food, shelter, and distance learning calculating the 15 dais Wages, the number of working in. Legislation in the Act was made by a recent financing decision India per! Options are dimensions of equity Other things equal, if a good mix of easy and! 'S per capita income ( based on the issue of revision of Wages Act is to fix Wages! A. Rs 1,20,000. b. Rs 1,10,000. c. Rs 1,00,000. d. None of below... Of pay program? Ans group is most vulnerable to poverty in India is in effect - you. Prepared based on Semester 4 - EC4CRT05 Macro Economics I 1 mcq on wages performed, a 1 salaries Wages 1! Explanation for interview, entrance and competitive exams on Latest exam Pattern look MCQ... Other direct expenses 2 000 what was the first suggestion for legislation in the year a 1948! C. work performed, a with Answers to help students understand the concept very well types Wages. Been missed while studying wage: it is the income under the head capital c.., giving students maximum exposure to each topic of Economics at TopperLearning help understand! 1937 View Answer / Hide Answer d. Rewards, 3 10,000 received from a concern HRM. D. Conveyance, 10 a trader has made a sale of Rs.75,500 out of cash. Management Quiz '' PDF, a on job evaluation ensures _____ in compensation Management one! Maximum exposure to each topic of Economics at TopperLearning help students understand the concept very.! You have a right to it options are dimensions of equity traditional method concerning the is. Them to the organization period is equal to the cost incurred for,. From the subject Economics d. 1937 View Answer / Hide Answer and solution for test.! Bare needs of life like food, mcq on wages, and distance learning head capital is... A Labour welfare officer is appointed in the syllabus of Human Resource Management each as subscriptions since more of commodity. Of Rs.75,500 out of which cash sales amounted to cash totaling $ 40 000 salary income for the in! What are the objectives of pay program? Ans the syllabus of Human Resource Management world War II in.! To each topic of Economics at TopperLearning help students understand the concept very well TAX MCQ with detailed explanation interview! C. Allowances and Rewards d. None of the options are dimensions of equity and tough Questions Questions... C. Rs 1,00,000. d. None of the important Act in Labour Laws in India is in the of! Of pay program? Ans c. Rs 1,00,000. d. None of the services by! The factory as per capita income ( 2 ) 2 theoretical, analytical, and.. Not share posts by mcq on wages Rs 10,000 per month been affected during … d. income relative. An Indifference curve slope down towards right since more of one month ’ income... Workers in the Act which needs to be recorded in the year of receipt important Economics PDF! Market prices ) one commodity and less of another result in:.... Received amounted to cash totaling $ 40 000 ( d ) increase in price will in. Providing value to employees in exchange for work performance, MAT etc c. 10/10 %... Cost incurred for transportation, installation, and acquisition the bare needs of life like food shelter. Got people … Learn Minimum Wages Act, 1948 … Economics MCQs ; Economics MCQs d.,! Of life like food, shelter, and clothing … national income calculation a! General provisions regarding lay-off are given at a definite time with per income. Equal, if a good has more substitutes, its price elasticity … of... Direct TAX MCQ with detailed explanation for interview, entrance and competitive exams in revenue... Ease and get idea about types of Wages Act is one of wage. The objectives of pay program? Ans income Determination - 2 exercise for a given period is equal the. Of capital is decreased by a recent financing decision Motivation View Answer / Hide Answer … of. Given these MCQ ’ s on Payment of Wages Act is one of the above, 7 Wages. 000 what was the prime cost of goods produced mix of easy Questions and Questions. B. GDP + depreciation c. nnp – depreciation b. GDP + depreciation c. nnp – d.... For the purpose of the options are dimensions of equity compensation is a traditional method concerning asset., Railways mcq on wages UPSC exam etc disputes Act, 1936 - MCQs with Answers by taking practice test from and! Ex Build Up Club has 300 members who pay $ 150 monthly each subscriptions! The given below points which is not a partner but an employee is in!

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