Description : Provision for discount on debtors is calculated on the amount of debtors. a) Before deducting provision for doubtful debts. b)After deducting provision for doubtful debts. c) Before deducting actual debts and provision for doubtful debts. d) After adding actual bad and doubtful debts.
Last Answer : b)After deducting provision for doubtful debts.
Description : Liabilities (not accumulated profits) of a company include— A. General reserve B. Pension fund C. Dividend equalisation fund. D. Retain earning
Last Answer : B. Pension fund
Description : Under the Insolvency and Bankruptcy Code, 2016, debts owed to a secured creditor in the event such secured creditor has relinquished security ranks equally with ___________. a) insolvency ... period of twelve months preceding the liquidation commencement date d) dues to Central Government
Last Answer : b) workmen’s dues for a period of 24 months prior to liquidation commencement date
Description : Provision for Income Tax is _____ A. Debited to P & L Appropriation A/c B. Debited to Profit and Loss A/c C. Debited to Treading A/c D. Credited to P & L Appropriation a/c
Last Answer : B. Debited to Profit and Loss A/c
Description : What is the percentage of pay for workmens Compensation. Is this amount based on pay before or after taxes?
Last Answer : About 80% before taxes.
Description : Liability for compensation under Workmen’s Compensation Act is treated a) Secured creditor b) Preferential creditor c) Over – riding preferential creditor d) Unsecured creditor
Last Answer : Over – riding preferential creditor
Description : The return on investment (ROI) may be calculated as A. Net profit before interest, tax and dividend / Capital employed B. Net profit after interest, tax and dividend / Shareholder's fund C. ( Net profit - preference dividend )/ No. of equity shares D. Return on Investment / Net profit ratio
Last Answer : A. Net profit before interest, tax and dividend / Capital employed
Description : Bonus shares can be issued by a company A. Out of the Reserves created by revaluation of fixed assets B. Out of share premium not collected in cash C. Without any provision for it in the Articles of Association of the company D. Out of free reserves built out of genuine profit
Last Answer : D. Out of free reserves built out of genuine profit
Description : After declaration dividends are paid to the shareholders as per the provision of A. Indian Companies Act B. RBI Act C. SEBI Act D. Indian Contract Act
Last Answer : C. SEBI Act
Description : The most promising source of saving to finance development is A. the profits of organized sector B. profits of railway C. profits of Government sector D. only the profit of private sector
Last Answer : A. the profits of organized sector
Description : At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is A) Transferred to Depreciation Account B) Transferred to the Asset Account C) Transferred to Profit and Loss Account D) Simply deducted from the asset in the Balance Sheet
Last Answer : Answer: D
Description : Under net assets method , accumulated profits should not form part of liabilities.
Last Answer : TRUE
Description : Which of the following statements is not correct? A. For the purpose of Funds Flow Statement, the term 'fund ' generally refers to net working capital B. Funds flow is a wider concept than ... business D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Last Answer : D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Description : Following is the Source of fund A. Decrease in balance of Debenture B. Decrease in Long term Liability C. Increase in Long term loan D. Redemption of Shares
Last Answer : C. Increase in Long term loan
Description : Following is the application of fund A. Decrease in balance of Fixed Asset B. Decrease in working capital C. Decrease in net profit D. Decrease in preliminary expenses
Last Answer : C. Decrease in net profit
Description : Load cells used for the measurement of weight has (A) Compact & rugged construction with an accuracy of 0.1 to 1% (B) No moving parts and incurs negligible deflection under load (C) Provision of thermal compensation and is hermetically sealed (D) All 'a', 'b' & 'c'
Last Answer : (D) All 'a', 'b' & 'c'
Description : Cash inflows from a project include: A. tax shield of depreciation B. after tax operating profits C. raising of funds D. Both (a) and (b)
Last Answer : D. Both (a) and (b)
Description : Which of these is/are not included in net domestic product at factor cost. (a) Wages or compensation of employees ; (b) Rent, interest, profits or operating surplus; (c) Mixed income ; (d) None
Last Answer : (d) None
Description : The direct advantages of accounting do not include A. Preparation of financial statements B. Comparison of results C. Competitive advantage D. Information to interested groups
Last Answer : C. Competitive advantage
Description : Discounted cash flow criteria for investment appraisal does not include A. Not present value B. Benefit cost ratio C. Accounting rate of return D. Internal rate of return
Last Answer : B. Benefit cost ratio
Description : Micro factors of external business environment does not include A. Competitors B. Customers C. Government Policies D. None of these
Last Answer : C. Government Policies
Description : Which of the following is not the main objective of accounting? A] Systematic recording of transactions B] Ascertaining profit or loss C] Ascertainment of financial position D] Solving tax disputes with tax authorities
Last Answer : D] Solving tax disputes with tax authorities
Description : Debt financing is a cheaper source of finance because of A. Time value of Money B. Rate of Interest C. Tax deductibility of Interest D. Dividends not payable to lenders.
Last Answer : C. Tax deductibility of Interest
Description : Which one of the following branches of accounting primarily deals with processing and presenting of accounting data for internal use? A. Financial accounting B. Tax accounting C. Management accounting D. Inflation accounting
Last Answer : C. Management accounting
Description : Corporate dividend tax is _______ A. Computed on Net profit B. Computed on Share Capital C. Computed on Goss Profit D. Computed on Dividend paid
Last Answer : D. Computed on Dividend paid
Description : Mark the correct option relating to Senior citizens saving scheme a) An individual of the Age 60 years or more may open the account b) An individual of the age of 55 years or more but less than 60 ... and not exceed the amount of retirement benefits c) The maturity period is 5 years d) All the above
Last Answer : d) All the above
Description : When will stop the recovery of GPF concerned the official due to retire on superannuation ? a. One month before retirement b. Two month before retirement c. Three month before retirement
Last Answer : c. Three month before retirement
Description : Which of these measures would not reduce natural rate of unemployment? (a) Creation of more jobs ; (b) Reducing the age of superannuation (c) Hike in unemployment allowance ; (d) Employment oriented education system
Last Answer : (c) Hike in unemployment allowance ;
Description : Do I need a workmens comp lawyer?
Last Answer : The first thing I would do is contact a workmans comp lawyer. A situation such as yours could be very difficult to handle properly without an experienced professional to assist you.
Description : Those profits which the person in wrongful possession of such property actually received or might with ordinary diligence have received there from, together with interest on such profits, but shall not include profits ... (a) Means profit (b) Interest (c) Principal sum (d) None of the above
Last Answer : (a) Means profit
Description : NDP does not include (a) Payments made for income taxes ; (b) Depreciation allowances ; (c) Undistributed profits; (d) The value added from intermediate goods.
Last Answer : (b) Depreciation allowances ;
Last Answer : VAT-6 or any similar item does not exist under Value Added Tax and Supplementary Duty Act 2012 and Value Added Tax and Supplementary Duty Rules 2018. In other words, in the previous law, import was done ... case of all types of companies, 5% advance tax has to be paid at the time of import. ]
Last Answer : Answer : A new Clause (x) has been added after the Clause (w) of Sub-Section (1) of Section 184A in the Income-tax Ordinance through Finance Act , 2015 . In case of admission of ... verify the validity of the 12 digit TAON after receiving the acknowledgment of receipt of such certificate / return.
Last Answer : Provisions relating to sale of Bandrol of Bidi: According to the existing provisions of Section 52B of the Income Tax Ordinance, during the sale of Bandroll of handmade cigarettes , also known as Bidi , the ... bidi band roll will be treated as final tax on the income of the said business as before.
Description : What provision in the Constitution enabled the Central Government to impose the service tax and to expand its span? (1) List I, Schedule VII (2) List III, Schedule VII (3) Residuary Powers under Article 248 (4) Emergency Powers
Last Answer : (3) Residuary Powers under Article 248 Explanation: Under the Residuary powers of legislation enumerated in Article 248 of the Indian Constitution, Parliament has exclusive power to make any law with respect to ... the power of making any law imposing a tax not mentioned in either of those Lists.
Description : Provision for tax is shown as a part of-----------activity a) financing b) investing c) operating d) others
Last Answer : c) operating
Description : Mr. X, the manager of XYZ Ltd. since 2002, was terminated by the Company on 1st Aug 2017 y paying a compensation of Rs.200 Lakhs. Such Compensation is: a) Chargeable under the Wealth tax Act 1957 b) Not Chargeable under Income Tax Act c) Chargeable u/s 17(3)(i) d) Chargeable u/s 28(ii)(a)
Last Answer : d) Chargeable u/s 28(ii)(a)
Description : Which of the following may cause management to intentionally understate profits? a. Management wants to create "cookie jar" reserves for a rainy day. b. The company is under scrutiny by tax authorities. c. The company is suffering a large loss and wants to take a "big bath." d. All of the above
Last Answer : All of the above
Description : The primary reason that many companies work to become the "low-cost producers" in theri industry is because : 1. the can generate more advertising 2. they can please top management 3. they can gain ... 4. they can set lower prices that result in greater sales and profits 5. none of these
Last Answer : they can set lower prices that result in greater sales and profits
Description : Under the Income Tax Act 1961, “Notional profit” from speculative business is: a) taxable under the head income from “Profits and Gains from Business and Profession” b) taxable under the head “Income from other sources” c) either A or B d) not taxable
Last Answer : d) not taxable
Description : Under section 80J of the income tax act, 1961, small-scale industries are exempted from the payment of income tax on their profits at ___________. A. 6% p.a. B. 6% p.m. C. 5% p.a. D. 5% p.a.
Last Answer : A. 6% p.a.
Description : It will be a tough year of transition for the Tampa Bay Buccaneers with the loss of a coach, many key players & two star running backs doubtful. What strategies do they need to implement to have a successful 2009 season in the NFC South?
Last Answer : They need to find a franchise quarterback. They’ve been having quarterback carousels/controversies for as long as I can remember.
Description : what's eating edges of my staghorn fern? Possible but doubtful it's scale & nothing else visible
Last Answer : Need Answer
Description : Knowledge about the- existence of which animal is doubtful in the Indus VaElley Civilization? -Do You Know?
Last Answer : answer:
Description : What is the prefix of doubtful?
Last Answer : doubtful does not have a prefix. It does, however, have a suffix ('-ful').
Description : Contingent liabilities can also be called doubtful liabilities.
Last Answer : State whether the following statement are true or false with reason : Contingent liabilities can also be called doubtful liabilities.
Description : What is the mood of a verb used in subordinate clauses to show a doubtful or nonfactual condition?
Last Answer : Feel Free to Answer
Description : Knowledge about the- existence of which animal is doubtful in the Indus VaElley Civilization?
Last Answer : Cat
Description : In all cases in which judgment is given that a person is guilty of one of several offences specified in the judgment, but that it is doubtful of which of these offences he is guilty, the offender ... subject to the discretion of the court as to the quantum of reduction d) None of the above
Last Answer : a) For which the lowest punishment is provided if the same punishment is not provided for all
Description : Mark the correct option a) Any goods transmission through inland post is prohibited found in PO should be detained and an immediate report submitted to Head of the Circle/Region. b) If a leaky parcel ... in a cover and marked doubtful' addressed to the Postmaster of destination e) All the above
Last Answer : e) All the above