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Everything From A Single Para | English Aptitude Test

These Questions Completely based on Single “Outlook” Editorial. The purpose to start this is to make you read the same paragraph again and again to understand the different types of questions like comprehension, cloze test, sentence arrangement, sentence improvement, vocab, antonyms, synonyms, fillers (all based on single paragraph) etc. Reading this paragraph while practicing these questions will help you understand. 


The Hindu: 17 August 2019

Making CSR work: On Companies Act amendments

Non-compliance by corporates should be decriminalised and made a civil offence

It was first encouraged as a voluntary contribution by business; six years ago it evolved into a co-option of the corporate sector to promote inclusiveness in society and now, corporate social responsibility or CSR has become an imposition on India Inc. Key amendments to the relevant sections of the Companies Act in the last session of Parliament have now made non-compliance with CSR norms a jailable offence for key officers of the company, apart from hefty fines up to ₹25 lakh on the company and ₹5 lakh on the officer in default. Finance Minister Nirmala Sitharaman is said to have assured representatives of India Inc. when they met her last week that this amendment will be reviewed. Yet, it is curious that the government rushed through with amendments on the CSR law even as a committee constituted by it was finalising its report on the same subject. As it happened, the committee, headed by the Corporate Affairs Secretary submitted its report on August 13, well after Parliament had passed the amendments. On the specific issue of penalties, the committee has proposed that non-compliance be de-criminalised and made a civil offence. “CSR is a means to partner corporates for social development and such penal provisions are not in harmony with the spirit of CSR,” the committee’s report says and rightly so. CSR should not be treated as another tax on businesses.

Every company with a net worth of ₹500 crore or turnover of ₹1,000 crore or net profit of ₹5 crore should spend 2% of the average profits it made over the previous three years on social development. The experience since this provision was operationalised in 2013 has been mixed. Filings with the Ministry of Corporate Affairs show that in 2017-18, only a little over half of those liable to spend on CSR have filed reports on their activity to the government. The other half either did not comply or simply failed to file. The average CSR spend by private companies was just ₹95 lakh compared to ₹9.40 crore for public sector units. These are early days yet, and compliance will improve as corporates imbibe CSR culture fully. The committee’s suggestion to offer a tax break for expenses on CSR makes sense as it may incentivise companies to spend. It has also recommended that unspent CSR funds be transferred to an escrow account within 30 days of the end of the financial year. It should be recognised that CSR is not the main business of a company and in these challenging times they would rightly be focusing their energies on the business rather than on social spending. The government should be careful to not micromanage and tie down businesses with rules and regulations that impose a heavy compliance burden. Else it might end up with the opposite of what it intends — to rope in corporates as citizens to promote social inclusion.

 

Directions (1-3) Choose the similar meaning

Q1. Hefty

(a) heavy         (b) bulky         (c) sturdy          (d) all        (e) None

Q2. Imposition 

(a) service         (b) equipment         (c) onus         (d) all        (e) None

Q3. Provision

(a) providing         (b) balmy         (c) bother         (d) all        (e) None

Directions: (4-5) choose the opposite meaning

Q4. Imbibe

(a) abstain      (b) intend         (c) decline       (d) render        (e) None

Q5. Inclusion

(a) more        (b) omission         (c) lapse       (d) all        (e) None

Direction (6-7): Which of the following phrases given below each sentence should replace the phrase printed in bold letters to make the sentence meaningfully correct. Choose the best option among the five given alternatives that reflect the correct use of phrase in the context of the grammatically correct sentence. If the sentence is correct as it is, mark “No Error” as your answer.

 

Q6. The government should be careful to not micromanage and tie down businesses with rules and regulations that impose a heavy compliance burden. 

(a)The government should               (b)The government be           

(c)The government                       (d)The government should be              (e) None

Q7. The experience since this provision was operationalised in 2013 has been mixed. 

(a) since this provision                    (b) for this provision             

(c)from this provision                     (d) this provision             

(e) None

Directions (8-10): In the passage given below there are blanks which are numbered from 8 to 10. They are to be filled with the options given below the passage against each of the respective numbers. Find out the appropriate word in each case which can most suitably complete the sentence without altering its meaning. If none of the words given in options fits in, mark ‘None of these’ as your answer choice.

Every company with a net worth of 500 crore or ………..8………. of 1,000 crore or net profit of 5 crore should spend 2% of the average profits it made over the previous three years on social development. The experience since this ………..9………. was operationalised in 2013 has been mixed. Filings with the Ministry of Corporate Affairs show that in 2017-18, only a little over half of those ………10…….. to spend on CSR have filed reports on their activity to the government. The other half either did not comply or simply failed to file. 

Q8. (a)apt          (b) delivery         (c) turnover     (d) all      (e) None

Q9. (a)culpable    (b) provision       (c) yield         (d) all       (e) None

Q10. (a)liable      (b) allocation       (c) revenue      (d) all      (e) None

Directions (11-12): Read each of the following sentences to find out if there is any grammatical error in it. The error, if any, will be in one part of the sentence. The number (A, B, C or d) of this part is your answer. If there is no error in the statement, then mark option (e) as your answer choice.

Q11. On the specific issue(a)/ of penalties, the committee has(b)/ proposed that non-compliance be de-criminalised and (c)/made a civil offence(d)/(e)/ 

(a) a              (b) b                 (c) c                     (d) d                   (e) e

Q12. It is curious that the(a)/ government rushed through with amendments on(b)/ the CSR law even as a committee (c)/constituted by it was finalising its report on the same subject(d)/(e)/

(a) a              (b) b                 (c) c                     (d) d                   (e) e

Directions (13-15): Rearrange the following sentences (a), (b), (c), (d), and (e) in the proper sequence to form a meaningful paragraph and then answer the questions given below.

(a) Every company with a net worth of 500 crore or turnover of 1,000 crore or net profit of 5 crore should spend 2% of the average profits it made over the previous three years on social development.   

(b) CSR should not be treated as another tax on businesses.     

(c) CSR is a means to partner corporates for social development and such penal provisions are not in harmony with the spirit of CSR,” the committee’s report says and rightly so. 

(d) As it happened, the committee, headed by the Corporate Affairs Secretary submitted its report on August 13, well after Parliament had passed the amendments. 

(e) On the specific issue of penalties, the committee has proposed that non-compliance be de-criminalised and made a civil offence.

Q13. Which is the Second step after rearrangement?

(a) A          (b) B           (c) C           (d) D        (e) E  

Q14. Which is the Third step after rearrangement?

(a) A           (b) B         (c) C           (d) D        (e) E

Q15. Which is the Fourth step after rearrangement?

(a) A           (b) B          (c) C          (d) D        (e) E

Directions (16-17): In each of the following sentences, there is a blank space. Below each such sentence, there are four options with one word each. Fill up the blank with the word that makes the sentence grammatically and contextually correct. If none of the four words is your answer, choose option (e) as your answer choice.

Q16. Finance Minister Nirmala Sitharaman is said to have assured representatives of India Inc. when they met her last week that this ……….. will be reviewed.

(a)adaptation                         (b) change         

(c)amendment                        (d)  All     

(e) None

Q17. On the specific issue of ……….., the committee has proposed that non-compliance be de-criminalised and made a civil offence. 

(a) revision                             (b)  penalties       

(c) adjust                               (d)  All       

(e) None

Directions (18-20): Answer the questions given below based on the passage.

Q18. According to passage what are the charges for companies those not adhere to the rule of CSR?

(a) fines up to 25 lakh               (b) 5 lakh on the officer in default     

(c) jailable                              (d) All     

(e) None

Q19. According to passage what you understand from CSR?

(a) CSR is a means to partner corporates for social development

(b)Every company with a net worth of 500 crore should pay tax 

(c) company should spend 2% of the average profits it made over the previous three years on social development

(d)All

(e) None

Q20. Which of the following statements is/are true in context of the passage above?

(I) Average CSR spend by private companies was just 95 lakh compared to 9.40 crore for public sector units.

(II) CSR funds be transferred to an escrow account within 60 days of the end of the financial year

(III) CSR is as another tax on businesses.

(a) Only (I)     (b) Both (I) and (II)   (c) Both (II) and (III)  (d) All are incorrect  (e) None

Answers With Explanation

Ans.1, d it means large and heavy.

 

Ans.2, c it means the action or process of imposing something or of being imposed.

 

Ans.3, a it means the action of providing or supplying something for use.

 

Ans.4, a Imbibe means drink (alcohol). Abstain means restrain oneself from doing or enjoying something.

 

Ans.5, b Inclusion means the action or state of including or of being included within a group or structure. Omission means someone or something that has been left out or excluded.

 

Ans.6, d is correct.

 

Ans.7,  a Since gives the starting point of actions, events or states. It refers to when things began.

Since + a point in time (in the past), until now.

I’ve been waiting since 7 o’clock.

For + a period of time 

To measure a period of time up to the present, we use the present perfect tense and not the present tense.

I have known her for a long time. (Correct) 

I know her for a long time. (Incorrect)

 

Ans.8, c it means the amount of money taken by a business in a particular period.

 

Ans.9, b it means the action of providing or supplying something for use.

 

Ans.10, a it means responsible by law; legally answerable.

 

Ans.11,  e no error.

 

Ans.12, a use yet yet as an adverb to refer to a time which starts in the past and continues up to the present. We use it mostly in negative statements or questions in the present perfect. It usually comes in end position:

Kevin hasn’t registered for class yet.

 

Ans.13, e is correct. Because the correct sequence is DECBA.

 

Ans.14, c is correct.

 

Ans.15, b is correct.

 

Ans.16, d it means a minor change or addition designed to improve a text, piece of legislation, etc.

 

Ans.17, b it means a punishment imposed for breaking a law, rule, or contract.

 

Ans.18, d according to passage d is correct.

 

Ans.19, a according to passage a is correct.

Ans.20, a according to passage a is correct.

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