Q.84 Which of the following Sections governs the definition of the term ‘Assessment’?Ans A. Section 2(31)B. Section 2(8)C. Section 2(17)D. Section 2(7)Correct Ans Provided: B
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Q.59 Tax holiday for units established in Special Economic Zones is governed under _______.Ans A. Section 10AAB. Section 10ABC. Section 9AAD. Section 9ABCorrect Ans Provided: A
Q.72 As per AS-2, inventories include:Ans A. work-in-progressB. raw materialC. finished goodsD. machineryCorrect Ans Provided: D
Q.58 The Accounting Standard for Construction Contracts is applied to:Ans A. Financial Statements of Multi-national CompaniesB. Financial Statements of Limited Liability PartnershipsC. Financial Statements of Non-profit OrganisationsD. Financial Statements of ContractorsCorrect Ans Provided: D
Q.78 Interest on funds generated internally, payment for which is NOT actually made, is an example of ______ cost.Ans A. imputedB. directC. conversionD. variableCorrect Ans Provided: A
Q.79 Which of the following organisations are best suited for process costing? (i) Textile mills(ii) Sugar works(iii) Paper mills(iv) Legal firmsAns A. (i), (ii), (iii) and (iv)B. Only (i), (ii) and (iii)C. Only (i) and (ii)D. ...
Q.20 Universities are an example of:Ans A. CompaniesB. Artificial Juridical PersonsC. Body of IndividualsD. Association of PersonsCorrect Ans Provided: B
Q.9 Which of the following Sections (Acts) grant exemption from income-tax to salaries and emoluments paid by the United Nations to its officials?Ans A. Section 4 of the United Nations (Privileges and Immunities) Act, 1947B. Section 2 of ...
Q.53 Which of the following Accounting Standards is related to Research and Development Cost?Ans A. AS-10B. AS-18C. AS-14D. AS-8Correct Ans Provided: D
Q.77 Calculate diluted EPS from the following information: Net profit for year 2022: ₹24,000No. of equity shares outstanding: 10,000Fair value of one equity share during 2022: ₹40No. of equity shares under option during 2022: 2,000Exercise ...
