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MBA Verbal Ability Questions & Answers – Reading Comprehension Set-II

Oct 24, 2016 16:24 IST

    Passage - 1

    With the Land Acquisition Bill in the limelight, nobody is talking about the real reforms that farmers need. The unseasonal rains over the last few years have resulted in enormous loss of crop output across many States of North India. This has shifted attention from the issue of land acquisition to other important problems faced by farmers in India. While it is important to debate the various clauses of the Land Acquisition Bill — what might benefit the farmers and what goes against their interests — it is also important for the government to pay attention to the bigger problems that Indian farmers face. The findings from a survey conducted by the Centre for the Study of Developing Societies in late 2013 among 5,480 farmers across 18 States in the country present a rather dismal picture of agriculture today. Most conversations with farmers reveal how income returns are very low, irrigation facilities are inadequate and supporting infrastructure is largely absent or are of poor quality. Besides, crops also get destroyed either by drought or by floods. It is no wonder that the survey indicates that more than one-fifth (22 per cent) of the farmers have begun to dislike farming. The scarcity of financial resources for farming is another major issue. Unsurprisingly, the study indicated that one-third of the farmers had taken a loan in the last five years for meeting personal or farming needs. For non-farming purposes, most of them had to depend on either friends or moneylenders.

    How to Quickly Solve Reading Comprehension Questions

    1. Which of the following statements is best supported by the passage?

    a) Income returns are adequate in farming business.

    b) Government is providing enough irrigation facilities to the farmers.

    c) Land Acquisition bill is not the only reason of concern for farmers.

    d) Loans are making the farmers financially independent.

    2. Which of the following statements can be inferred from the passage?

    a) Farmers are only concerned about the Land Acquisition Bill.

    b) Farming has become a very less lucrative work for farmers.

    c) Land Acquisition Bill will make the farmers financially strong.

    d) Most of the farmers are in favor of the Land Acquisition Bill.

    3. Which one of the following weakens the conclusion drawn in the above passage?

    a) Both financial and infrastructural factors affect the business of farming.

    b) For arranging financial resources, both for farming and personal purpose, farmers have to depend upon outsider’s money.

    c) Farmers are able to earn sufficient income from farming to meet their basic requirements.

    d) Irrigation facilities along with other infrastructural facilities are inadequately provided to the farmers.

    4. What does the term ‘dismal picture of agriculture’ means in the passage?

    a) Agriculture sector is prospering day by day.

    b) Favorable factors are helping agriculture sector to grow.

    c) There is a sudden boom in the agriculture sector.

    d) Agriculture sector is going through a very bad phase these days.

    5. According to the passage, which of the following resource is scarce in farming sector?

    a) Natural Resource

    b) Financial Resource

    c) Technological Resource

    d) Human Resource

    Passage - 2

    With the passage of a tough new law to deal with black money kept abroad—the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Bill, 2015—and introduction of the Benami Transaction (Prohibition) Bill in the Lok Sabha on the last day of the budget session, the government has demonstrated that it has the political will to address the menace of black money. The Black Money Bill, which seeks to unearth unaccounted funds and assets stashed by Indians abroad and provides for 120 per cent tax and penalty in addition to a 10-year jail term, will become law after getting assent of the president, having already been passed by both Houses of Parliament. The government has also armed itself to attach domestic property of equivalent value of such offenders.

    Crucially, the Lok Sabha Speaker had notified the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill as a Money Bill. This meant that after the Lok Sabha had approved the bill, the Rajya Sabha where the government is in a minority had to act on it within 14 days of receiving it, or it would have been deemed to have been passed by that House. If the Rajya Sabha makes changes or rejects a Money Bill, the Lok Sabha has the power to accept or not accept the recommendations and it will be considered passed.

    It is now for the government to ensure that the new laws are implemented transparently and not applied selectively through misuse of the implementation machinery. For the first time in decades, the assault on black money is well on course. This apparent stranglehold on the black money menace must not be allowed to be sabotaged. Indeed, after this assault on black money held abroad begins to bear fruit, due attention needs to be given to tax evasion within the country which is an equally big menace.

    MBA Verbal Ability Questions & Answers – Reading Comprehension Set-I

    6. According to the passage, the Black Money Bill has been passed to:

    a) Distribute the Black money amongst the citizens of the country.

    b) Use the black money for the development of the country.

    c) Dig the unaccounted funds and assets stored by Indians abroad.

    d) Bring equality of income all over India.

    7. With reference to the passage, consider the following statements:

    i.   After a Bill gets approved in Lok Sabha, it is deemed to have been passed by Rajya Sabha.
    ii. If Rajya Sabha makes any changes in the bill previously passed by the Lok Sabha; then the Lok Sabha has the power to accept or not accept the recommendations and it will be considered passed.

    Which of the statements given above is/are correct?

    a) Only (i)

    b) Both (i) and (ii)

    c) Only (ii)

    d) Neither (i) Nor (ii)

    8. What does the term ‘Assault on Black Money’ means in the passage?

    a) Utilising the black money for economic growth.

    b) Keeping an eye on the black money stored by the Indians abroad.

    c) A raid on the black money stored by the Indians abroad.

    d) Transferring the black money from to India abroad.

    9. What punishment will be given to the people caught with black money stored abroad?

    a) 120% tax & penalty

    b) 10-year jail term

    c) 120% tax & penalty or 10-year jail term

    d) 120% tax & penalty and 10-year jail term

    10.  According to the passage, other than penalty and jail term, what can be further demanded from the people who will get caught with black money stored abroad?

    a) Attach domestic property of equivalent value to the black money stored.

    b) Detach domestic property of equivalent value to the black money stored.

    c) Attach domestic income of equivalent value to the black money stored.

    d) Attach domestic liability of equivalent value to the black money stored.

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    Answers:

    Ques 1

    Ques 2

    Ques 3

    Ques 4

    Ques 5

    Ques 6

    Ques 7

    Ques 8

    Ques 9

    Ques 10

    c

    b

    c

    d

    b

    c

    b

    c

    d

    a

    Explanation:

    In this section we will explain the rationale for choosing the answer pertaining to every question. After practicing these MCQ(s), you would be able to understand the concepts of Reading Comprehension.

    Explanation (1): The whole passage is talking about the issues farmers are facing other than the clauses of Land Acquisition Bill and hence, it is not the only reason of concern for farmers.

    Explanation (2): The passage clearly mentions that farmers are starting to dislike farming as an occupation because of low income returns, inadequate irrigation facilities and poor quality of supporting infrastructure.

    Explanation (3): The passage clearly mentions that farmers are not able to earn sufficient income and therefore, have to depend on loans and moneylenders money.

    Explanation (4): The word ‘dismal’ means something causing unhappiness or a sad feeling which implies that agriculture is going through a very poor state.

    Explanation (5): The passage clearly states that the scarcity of financial resources for farming is another major issue.

    Explanation (6): The first paragraph clearly mentions that the Black Money Bill seeks to unearth unaccounted funds and assets stashed by Indians abroad.

    Explanation (7): The second paragraph mentions that “if the Lok Sabha had approved the bill, the Rajya Sabha where the government is in a minority had to act on it within 14 days of receiving it, or it would have been deemed to have been passed by that House. If the Rajya Sabha makes changes or rejects a Money Bill, the Lok Sabha has the power to accept or not accept the recommendations and it will be considered passed”. Hence, both the statements are true.

    Explanation (8): ‘Assault’ means a sudden attack and hence, in the passage it means a raid on the black money stored abroad by the Indians.

    Explanation (9): The first paragraph clearly states that the Indians having black money stored abroad will be punished with 120 per cent tax and penalty in addition to a 10-year jail term.

    Explanation (10): The last lines of the first paragraph clearly state that the government has also armed itself to attach domestic property of equivalent value of such offenders.

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