BSI Industry Interview Questions and Answers

The documents required for processing a PVT. LTD. company's file include incorporation documents, memorandum and articles of association, board resolution, and audited financial statements.

• Incorporation documents

• Memorandum and articles of association

• Board resolution

• Audited financial statements

Depreciation is the decrease in the value of an asset over time due to wear and tear, obsolescence, or other factors.

• Depreciation is a method used to allocate the cost of an asset over its useful life.

• It represents the reduction in the value of an asset over time.

• Depreciation is recorded as an expense on the income statement.

• It helps in reflecting the true value of an asset on the balance sheet.

• Examples of assets that can depreciate include vehicles, machinery, buildings, and...read more

Trade finance refers to financial instruments and products used to facilitate international trade.

• Trade finance includes letters of credit, bank guarantees, and export credit insurance.

• It helps mitigate the risks involved in international trade transactions.

• Trade finance can also provide financing for businesses involved in import/export activities.

• Examples of trade finance institutions include the International Chamber of Commerce and the World Trade Organization.

LLP stands for Limited Liability Partnership.

• LLP is a type of partnership in which partners have limited liability.

• It is a separate legal entity from its partners.

• LLP is governed by the LLP Act, 2008 in India.

• It is a popular form of business for professionals like lawyers, accountants, etc.

• LLP has perpetual succession and can own property in its name.

The overall banking structure refers to the organization and hierarchy of banks and financial institutions within a country or region.

• The banking structure typically includes central banks, commercial banks, investment banks, and other financial institutions.

• Central banks are responsible for regulating and overseeing the banking system, managing monetary policy, and maintaining financial stability.

• Commercial banks provide a range of services to individuals and businesses, suc...read more