BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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3 YEARS
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5 YEARS
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8 YEARS
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10 YEARS
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Detailed explanation-1: -Legal Documents For example, documents such as bills of sale, permits, licenses, contracts, deeds and titles, mortgages, and stock and bond records should be kept permanently. However, canceled leases and notes receivable can be kept for 10 years after cancellation.
Detailed explanation-2: -14 The auditor must retain audit documentation for seven years from the date the auditor grants permission to use the auditor’s report in connection with the issuance of the company’s financial statements ( report release date), unless a longer period of time is required by law.
Detailed explanation-3: -The Retention Period for category ‘A’ and ‘B’ files is 25 years from the date of opening of the files. In case of class ‘C’ files the retention period is reckoned from the date of their recording.
Detailed explanation-4: -Files relating to the administrative aspects 3 years of RTI Act, 2005 i.e. implementation, suggestions, guidelines, etc.