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Letter Of Intent

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Letter Of Intent

Consider the following statements:

A letter of intent (LOI) is a document declaring the preliminary commitment of one party to do business with another.
A Memorandum of Understanding is often used at the beginning of a business partnership.
A Term Sheet is used to show interest in an investment opportunity. Often it is used to outline a potential agreement between an entrepreneur and investors.

Which of the above statements is/are correct?

	A	Only 1

	B	2 and 3

	C	Only 3

	D	1, 2 and 3

Your Ans is

Right ans is C

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

A letter of intent (LOI) is a document declaring the preliminary commitment of one party to do business with another. The letter outlines the chief terms of a prospective deal.
A memorandum of understanding (MOU or MoU) is an agreement between two or more parties outlined in a formal document. It is not legally binding but signals the willingness of the parties to move forward with a contract. It is often used at the beginning of a business partnership.
A Term Sheet is used to show interest in an investment opportunity. Often it is used to outline a potential agreement between an entrepreneur (or startup company) and investors. Term Sheets are used to start the process of establishing agreeable terms. Once both parties are agreed, a formal legal contract can be written.

Related Question

Yanomami Tribe

In which of the following two South American countries, Yanomami tribe is found?

	A	Peru and Bolivia

	B	Chile and Argentina

	C	Brazil and Venezuela

	D	Colombia and Ecuador

Your Ans is

Right ans is C

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

The Yanomami are the largest relatively isolated tribe in South America. They live in the rain forests and mountains of northern Brazil and southern Venezuela.
They can be classified as foraging horticulturalists, depending heavily on rain forest resources; they use slash-and-burn horticulture, grow bananas, gather fruit, and hunt animals and fish.
They live in large, circular houses called yanos or shabonos.
The Yanomami consider all people to be equal, and do not have a chief. Instead, all decisions are based on consensus after long discussions and debates.

Bravery Awards

Consider the following statements:

ParamVir Chakra is the highest-military award in India awarded for National bravery in the presence of enemy.
Vir Chakra is the second-highest military decoration in India, awarded for acts of conspicuous gallantry in presence of enemy, whether on land, at sea or in air.
Ashoka Chakra is an Indian military decoration awarded for valour, courageous action or self-sacrifice away from the battlefield. It is the peacetime equivalent of the ParamVir Chakra.

Which of the statement(s) given above is/are correct? Choose the correct answer from the codes given below:

	A	1 and 2

	B	2 and 3

	C	1 and 3

	D	1, 2 and 3

Your Ans is

Right ans is C

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

Gallantry Awards

The gallantry awards are announced twice in a year – on Republic Day and Independence Day.
Order of precedence: ParamVir Chakra, Ashoka Chakra, Mahavir Chakra, Kirti Chakra, Vir Chakra and Shaurya Chakra.

Wartime gallantry awards

Established on 26th January, 1950 with effect from 15th August, 1947.
ParamVir Chakra: Highest-military award in India. Awarded for National bravery in the presence of enemy.
MahaVir Chakra: Second-highest military decoration in India. Awarded for acts of conspicuous gallantry in presence of enemy, whether on land, at sea or in air.
Vir Chakra: Third in precedence in the awards for wartime gallantry.

Peacetime gallantry awards

Established on 4th January, 1952 with effect from 15th August, 1947.
Ashoka Chakra: An Indian military decoration awarded for valour, courageous action or self-sacrifice away from the battlefield. It is the peacetime equivalent of the ParamVir Chakra.
Kirti Chakra: Second in order of precedence of peacetime gallantry awards.
Shaurya Chakra: Third in order of precedence of peacetime gallantry awards.

Ammonium Nitrate

Consider the following with reference to ammonium nitrate:

In its pure form, ammonium nitrate (NH₄NO₃) is a yellow, crystalline chemical which is insoluble in water.
It is also the main component of the explosive composition known as ANFO — ammonium nitrate fuel oil.
Ammonium nitrate is used in some instant cold packs, as its dissolution in water is highly endothermic.

Which of the statement(s) given above is/are correct? Choose the correct answer from the codes given below:

	A	1 and 2

	B	2 and 3

	C	1 and 3

	D	1, 2 and 3

Your Ans is

Right ans is B

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

Ammonium Nitrate (NH4NO3) is a nitrogen-rich white, crystalline chemical which is soluble in water.
It is a common chemical ingredient of agricultural fertilisers.
It is used as an ingredient for the production of anaesthetic gases and cold packs.
It is also the main ingredient in the manufacture of commercial explosives used in mining and construction.
Pure ammonium nitrate is not an explosive on its own. It is classified as an oxidiser (Grade 5.1) under the United Nations classification of dangerous goods.
If mixed with ingredients like fuel or some other contaminants, or because of some other external factors, it can be very explosive.

Axone Or Fermented Soya Bean

In which of the following northeastern state, ethnic cuisine- Axone or fermented soya bean is being prepared and eaten by tribal population across the state?

	A	Manipur

	B	Nagaland

	C	Arunachal Pradesh

	D	Tripura

Your Ans is

Right ans is B

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

Axone , also spelled akhuni, is a fermented soya bean of Nagaland, known for its distinctive flavour and smell.
As much an ingredient as it is a condiment, axone used to make pickles and chutneys or curries.
It is prepared and eaten across Nagaland mainly by the Sumi (also Sema) tribe.
It belongs to the broader phenomena of fermentation necessary for food preservation in certain ecological contexts.

Sumi Tribe

It is one of the major ethnic group in Nagaland.
The Sumis mainly inhabit Zunheboto district, Dimapur district and Kiphire district although many have spread and are now living in a few more districts within Nagaland.
Sumi Naga tribe practiced kiti-do and were headhunters as every other Naga tribe.
Tuluni and Ahuna are the major festivals.

"Industry" Status To Sports

Recently, which of the following northeastern state has accorded ‘industry’ status to sports?

	A	Nagaland

	B	Tripura

	C	Meghalaya

	D	Mizoram

Your Ans is

Right ans is D

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

The Mizoram government has granted industry status to sports, a move aimed at generating employment.
Through the new status, the government hopes to commercialise sporting endeavours and woo investors.
Sports and its infrastructure will be eligible for availing of subsidy, loan and assistance from private and government sources.

Charan Paduka

Recently, which of the following state has launched an initiative Charan Paduka to help the migrant labour force?

	A	Maharashtra

	B	Uttar Pradesh

	C	Bihar

	D	Madhya Pradesh

Your Ans is

Right ans is D

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

The Charan Paduka Campaign has been launched in Madhya Pradesh for the migrant workers passing through the state.
Under the campaign the migrant workers are being provided with shoes and slippers to reduce their pain.
The campaign is being conducted by the Police of Madhya Pradesh.

Gopal Krishna Gokhale

Consider the following statements with reference to Gopal Krishna Gokhale:

In 1893, Gokhale became the Secretary of the Bombay Provincial Conference and in 1895, he served as the Joint Secretary of the INC along with Tilak.
In 1905, he founded the Servants of India Society, which trained people to be selfless workers so they could work for the common good of the people.
He launched the English weekly newspaper named The Hitavad (The people's paper) in 1911.

Choose the correct answer from the options given below:

	A	Only 1

	B	2 and 3

	C	Only 2

	D	1, 2 and 3

Your Ans is

Right ans is D

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

Gopal Krishna Gokhale was born on 9 May 1866 in Kotluk village of Guhagar taluka in Ratnagiri district, in present-day Maharashtra (then part of the Bombay Presidency) in a Brahmin family.
He became a member of the Indian National Congress in 1889, as a protege of social reformer Mahadev Govind Ranade.
In 1893, Gokhale became the Secretary of the Bombay Provincial Conference and in 1895, he served as the Joint Secretary of the INC along with Tilak.
He was voted to the Legislative Council of Bombay in 1899, and also to the Governor-General’s Imperial Council in 1901.
In 1905, Gokhale established the Servants of India Society for expanding education to Indians. He wanted Indians to receive an education that would instill in them a civic and patriotic sense of duty.
He played a major role in the Morley-Minto reforms.
In 1908, Gokhale founded the ‘Ranade Institute of Economics’. He discouraged the untouchability and caste-system, pleaded for the liberation of women and supported the cause of female education.
Gokhale visited Mahatma Gandhi in South Africa in 1912 on the latter’s request. He famously mentored to the father of the nation, who returned to India at Gokhale’s request.
He launched the English weekly newspaper named The Hitavad (The people's paper) in 1911.

Pulitzer Prize

Consider the following statements:

Pulitzer Prize was established in 1917 and has been awarded for the achievements in magazine, newspaper, online journalism, musical composition, and literature.
The award is administered by Columbia University, USA.

Choose the correct answerer from the codes given below:

	A	Only 1

	B	Both 1 and 2

	C	Only 2

	D	Neither 1 nor 2

Your Ans is

Right ans is B

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

The Pulitzer Prize is an award for achievements in newspaper, magazine and online journalism, literature, and musical composition in the United States.
It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made his fortune as a newspaper publisher, and is administered by Columbia University.
It is awarded yearly in 21 categories. Each winner receives a cash award and a certificate.
A gold medal is awarded to the winner in Public Service Category.

Statehood Day

Recently, two states celebrated their statehood on 1^st May, 2020. Choose the states from the options given below:

	A	Maharashtra and Gujarat

	B	Gujarat and Andhra Pradesh

	C	Maharashtra and Karnataka

	D	Karnataka and Tamil Nadu

Your Ans is

Right ans is A

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

Maharashtra and Gujarat celebrated their statehood day on 1^st May, 2020.
On May 1^st, 1960, the bilingual state of Bombay was divided into two separate states by the Bombay Reorganisation Act, 1960: Maharashtra for Marathi speaking people and Gujarat for Gujarati speaking people.
Gujarat was established as the 15th state of the Indian Union.

Maharashtra

Capital: Mumbai
Arabian Sea guards the western boundary of Maharashtra, while Gujarat and Madhya Pradesh are on the northern side. Chhattisgarh covers the eastern boundary of the State. Karnataka and Telangana are on its southern side.
Maharashtra has two major ports, Mumbai Port and Jawaharlal Nehru Port (JNP) both located in Mumbai harbour.
Bhil, Gond-Madia, Katkari, Koli, Oraonare the major tribes of Maharashtra.

Gujarat

Capital: Gandhinagar
The state is bounded by the Arabian Sea in the west, Pakistan and Rajasthan in the north and north-east respectively, Madhya Pradesh in the south-east and Maharashtra in the south.
Gujarat is the first state in the nation to start a separate department of 'climate change' to tackle the issue of global warming.
Kandla Port is the major port in Gujarat along with 41 minor ports.
Gamit, Bhils, Dhodias, Bawcha, Kunbi are the major tribes present in the state.

Survey Of India

Consider the following statements:

Survey of India is the National Survey and Mapping Organization of the country under the Department of Science & Technology.
Headquartered at Dehradun (Uttarakhand), it has 18 Geo Spatial divisions ranging from the prediction of tides to aerial survey.

Choose the correct answer from the codes given below:

	A	Only 1

	B	Only 2

	C	Both 1 and 2

	D	Neither 1 nor 2

Your Ans is

Right ans is C

Your Answer Is Correct

Your Answer Is Wrong

Explanation :

The Survey of India is India's central engineering agency in charge of mapping and surveying.
Set up in 1767 to help consolidate the territories of the British East India Company, it is one of the oldest Engineering Departments of the Government of India.
Its members are from Survey of India Service cadre of Civil Services of India and Army Officers from the Indian Army Corps of Engineers. It is headed by the Surveyor General of India.
The Survey of India, headquartered at Dehra Dun, has 18 Geo Spatial divisions ranging from the prediction of tides to aerial survey.
It has 23 Geo-spatial Data Centers spread across India, each catering to the respective administrative area.

Responsibility

It dedicates itself to the advancement of theory, practice, collection and applications of geospatial data, and promotes an active exchange of information, ideas, and technological innovations amongst the data producers and users who will get access to such data of highest possible resolution at an affordable cost in the near real-time environment.

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