Q.43 The dividend or interest income of a member of a Scheduled Tribe residing in Mizoram is:Ans A. subject to tax at the rate of 30%B. subject to tax at the rate of 5%C. subject to tax at ...

Q.54 The term ‘perquisite’ is defined under:Ans A. Section 17(4)B. Section 17(6)C. Section 17(8)D. Section 17(2)Correct Ans Provided: D

Q.30 Which of the following is NOT an Accounting Information System?Ans A. Modern SystemB. Automatic SystemC. Manual SystemD. Legacy SystemCorrect Ans Provided: B

Q.60 During the year 2021-22, A Ltd. incurred the following expenses on machinery: ₹5,00,000 for routine maintenance and ₹1,50,000 for a partial part replacement. ₹14,00,000 will be spent replacing a machine part that will increase the machine’s productivity. How ...

Q.37 Which of the following costs is considered as semi-variable cost?Ans A. Direct raw materialB. Raw materialC. Factory supervisionD. Direct labourCorrect Ans Provided: A

Q.46 ______ is defined as ‘that which segregates revenues and costs into areas of personal responsibility in order to assess performance attained by persons to whom authority has been assigned’.Ans A. Standard costingB. Divisional performanceC. Responsibility accountingD. Marginal ...

Q.80 Dearness Allowances is an example of:Ans A. Partly Taxable AllowancesB. Fully Taxable AllowancesC. Partly Taxable Allowances depending upon the nature of the assesseeD. Fully Exempt AllowancesCorrect Ans Provided: B

Q.87 The total amount by way of professional tax payable in respect of any one person shall NOT exceed ______ per annum.Ans A. ₹1,500B. ₹2,500C. ₹1,000D. ₹3,000Correct Ans Provided: B

Q.89 In accounting for shares, ESOS stands for:Ans A. Employee Share Option SchemeB. Expert Share Option SchemeC. Employer Stock Option SchemeD. Employee Stock Option SchemeCorrect Ans Provided: D

Q.33 Which of the following statements is NOT true?Ans A. Shares may not be converted into stock when fully paid up, but stocks may be offered as shares.B. Shares may or may not be fully paid, but stock ...