An Indian Business Aptitude Test (2020)

Explanation
Krishnamurthy Subramanian is the newly appointed chief economic advisor of India. This can be inferred from the given options where his name is mentioned.

Explanation
Naresh Goyal is the founder of Jet Airways. This is evident from his well-known association with the airline and his role as the chairman and founder of Jet Airways. He played a crucial role in establishing and expanding the airline, making it one of the leading airlines in India.

Explanation
FCNR stands for Foreign Currency Non-Resident account. This term is related to allowing NRIs (Non-Resident Indians) to maintain fixed deposits in foreign currency in India. FCNR accounts allow NRIs to hold their funds in foreign currency and earn interest on them. This helps NRIs to conveniently manage and invest their foreign earnings while taking advantage of the higher interest rates offered in India.

Explanation
China is the highest gold producing country because it has consistently held this position for several years. The country has a large gold mining industry and a significant amount of gold reserves. China's gold production is driven by both large-scale mining operations and small-scale artisanal mining. The country's government has also been actively promoting gold production and investment in recent years, further contributing to its high production levels.

Explanation
David Ebersman is considered to be the reason for Facebook's IPO debacle. This is because Ebersman, as the CFO of Facebook at the time, played a key role in the decision-making process leading up to the IPO. He was responsible for setting the initial IPO price and managing the allocation of shares. However, the IPO was overpriced and faced technical glitches, leading to a significant drop in the stock price shortly after the IPO. Ebersman's decisions and management of the IPO process were widely criticized, making him accountable for the debacle.

Explanation
Donations to NGOs are exempted from Income Tax under section 80G of the Income Tax Act 1961. This section allows individuals and companies to claim deductions on donations made to specified charitable organizations. By providing this exemption, the government encourages individuals and companies to contribute towards social causes and support the work of NGOs.

Explanation
MCX.SX, the new stock exchange of India, started its operations in the Currency Derivatives segment first. This means that it began trading currency derivatives before venturing into other segments such as Equities Market, Wholesale debt market, and Futures & Options. Currency derivatives involve the trading of contracts that derive their value from a foreign currency exchange rate. The exchange's decision to prioritize this segment suggests a focus on providing a platform for investors to trade and hedge currency-related risks.

Explanation
Bob Diamond is the correct answer because he was an American investment banker who resigned after a rate rigging scandal in Barclays Bank in 2012. This scandal involved the manipulation of the London Interbank Offered Rate (LIBOR), a benchmark interest rate that affects trillions of dollars worth of financial contracts worldwide. Diamond's resignation came amidst public and regulatory scrutiny over the unethical practices within the bank, leading to a loss of trust and credibility.

Explanation
Bombay House is the correct answer because it is the headquarters of the Tata Group. The Tata Group is a multinational conglomerate based in India, and Bombay House, located in Mumbai (formerly known as Bombay), serves as its headquarters. It is a historic building that has been the center of operations for the Tata Group since its construction in 1924. The name "Bombay House" is widely recognized and associated with the Tata Group's corporate identity.

Explanation
Segoe is the font that is best known for its usage by Microsoft in their marketing materials as well as logos. It has become synonymous with the Microsoft brand and is widely recognized as their signature font.

Explanation
Russia is the correct answer because it was the non-WTO economy that joined the World Trade Organization (WTO) in 2012 after 19 years of negotiations. Switzerland, Cuba, and Venezuela were not non-WTO economies and did not join the WTO in 2012.

Explanation
Standard Chartered was caught hiding details of transactions with the government of Iran worth $250 billion in 2012. This scandal involved violating U.S. sanctions against Iran by conducting illegal transactions. The bank had to pay a hefty fine and faced significant reputational damage as a result of this unethical behavior.