Daily UPSC Prelims Current Affairs – December 18-19, 2022 [Mock Test]
December 24, 2022 December 24, 2022
1. Ministry of Corporate Affairs has recently revised the definition of small companies, according to it, which of the following thresholds is/are correct about small companies?
- Paid-up capital should not exceed Rs 2 crore.
- Turnover should not exceed Rs 40 crore.
Choose the correct answer using the codes given below:
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: B [Only 2]
Notes:- According to the latest revision by Ministry of Corporate Affairs, the definition of ‘Small Companies’ has further been revised by increasing the thresholds for paid-up Capital from “not exceeding Rs 2 crore” to “not exceeding Rs 4 crore”. Furthermore, the turnover has increased from “not exceeding Rs 20 crore” to “not exceeding Rs 40 crore”.
- The small companies have the following advantages in terms of compliance: 1) No need to prepare a cash flow statement as part of a financial statement, 2) Mandatory rotation of the auditor is not required, 3) Holding only two board meetings in a year unlike other companies which are required to hold four such meetings in the same period, 4) Annual Return of the company can be signed by the company secretary and 5) Lesser penalties for small companies.
2. Consider the following observances:
- World Mental Health Day
- World Environment Day
- World Water Day
- International Women’s Day
Starting from January, which of the following is correct order of the above?
[A] 1 2 3 4
[B] 3 2 4 1
[C] 3 2 1 4
[D] 4 3 2 1
Show Answer
Correct Answer: D [4 3 2 1]
Notes:- International Women’s Day (March 8th): International Women’s Day celebrates the social, economic, cultural, and political achievements of women around the world. It also calls attention to gender inequality and advocates for women’s rights, gender equity, and women’s empowerment.
- World Water Day (March 22nd): World Water Day highlights the importance of freshwater resources and advocates for the sustainable management of water. It addresses issues like water scarcity, water quality, and equitable access to clean water for all.
- World Environment Day (June 5th): World Environment Day focuses on environmental protection and sustainability. It is a platform for raising awareness about pressing environmental issues, such as climate change, deforestation, and pollution, and encourages people to take action to protect the planet.
- World Mental Health Day (October 10th): World Mental Health Day is observed globally to raise awareness about mental health issues and reduce the stigma associated with mental illness. It promotes mental well-being and encourages individuals and communities to seek help and support for mental health concerns.
3. Consider the following statements about Patrice Lumumba:
- He was the first Prime Minister of Congo after liberation from Britain in 1960.
- He belonged to the Nandi group, an ethnic African tribe.
Which of the statements given above is/are correct?
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: D [Neither 1 nor 2]
Notes:- Koitalel Arap Samoei was a spiritual leader in Kenya. He was killed in 1905 when the country was under Britain’s colonial rule. He belonged to the Nandi group, an East African ethnic tribe based in Kenya.
- Patrice Lumumba was the hero of the Congo’s freedom movement who went on to become its first Prime Minister after liberation from Belgium in 1960.
