Financial | MCQs

Explanation

The International Federation of Accountants (IFAC)

The International Federation of Accountants is the global organization for the accountancy profession

IFAC Founded: October 7, 1977

IFAC Membership: 180

IFAC Headquarters: New York City, United States

ND5-07-2023

Explanation

East Timor (Timor-Leste) Capital is Dili.

East Timor (Timor-Leste) Currency is United States Dollar.

East Timor (Timor-Leste) official language is Tetum; Portuguese.

East Timor (Timor-Leste) located is in Continent Asia.

East Timor (Timor-Leste) Primary Religion is Christianity.

East Timor (Timor-Leste) Head of Govt. is Prime Minister – Taur Matan Ruak.

East Timor (Timor-Leste) Parliament called .

Tricks for Remember

DOLLAR

 Li-Ne-US-Ca-Fi-T-E-A

Mind trick: Li ne(a name) who lives in US likes Coffee(Ca- Fi) and Tea(T-E-A)

**Li-Ne**

Li-Liberia

Ne-New Zealand

**US**

United States

**Ca-Fi**

Ca-Canadian

Fi- Fizzi

**T-E-A**

T-Taiwan

E-Ethiopia

A-Australia

Explanation

Silicon Valley Bank (SVB) collapsed suddenly in early March 2023, following a rapid bank run and massive deposit withdrawals—about 81% of its deposits, totaling $142 billion, were withdrawn in just two days.

It was the largest bank failure since the 2008 financial crisis, provoking widespread fears of contagion across the banking sector.

Explanation

• Modaraba company is a unique and prime mode of non-interest Islamic financial system.
• It is a form of financial contract in which one party, the investor (Rab-ul-mal) entrusts money to another party, the financial manager (Mudarib) for the purpose of carrying out a business (Modaraba).
  

Explanation

Explanation

The Holy Prophet (PBUH) used to pay the debt of his indebt companions  from his own.

Indebt companions means مقروض صحابی

Debt means قرض

Explanation

Explanation

In 2018, Saudi Arabia announced a $6.4 billion economic package for Pakistan.

It included $3 billion in foreign currency support and $3.2 billion worth of oil on deferred payments.

Explanation

As of June 2024, Pakistan’s total public and guaranteed debt reached approximately Rs. 74.013 trillion.

This figure represents a significant rise, mainly due to currency devaluation and fiscal deficits.

Explanation

Prime Minister Imran Khan on 15-02-2022 launched the country’s first instant person to person payment system ‘Raast’ for low-cost digital retail payments and money transfers.