Q.85 P/V ratio is 40%. Margin of safety is 60%. Sales are ₹1,50,000. Calculate the profit.Ans A. ₹24,000B. ₹6,000C. ₹30,000D. ₹36,000Correct Ans Provided: C
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Q.27 As per Section 10(1), which of the following incomes is NOT to be included in the total income of the assessee?Ans A. Income from capital gainB. Agricultural incomeC. Annual value of palaces of former rulersD. Share income ...
Q.2 The average weight of a class of 34 students is 49.5 kg. If the weight of a teacher is included then the average weight rises by 300 g. What is the weight (in kg) of the teacher?
Q.38 According to AS-10, bearer plant is defined as all of following, EXCEPT:Ans A. a plant that is used for the supply of agricultural produceB. a plant that is expected to produce for more than 12 monthsC. a ...
Q.6 If a company issues 100 shares under ESOP at ₹40 per share when the market price of a share is ₹160, then the accounting value of the shares will be:Ans A. ₹16,000B. ₹12,000C. ₹10,000D. ₹4,000Correct Ans Provided: ...
Q.55 From the following data, calculate the abnormal loss in units, and the normal loss in units, respectively, for the following process. Input introduced = 2000 unitsOutput transferred to the next process = 1700 unitsNormal loss @ ...
Q.25 Which of the following Act governed the levy of income tax in India?Ans A. Income Tax Act, 1961B. Income Tax Act, 1963C. Income Tax Act, 1962D. Income Tax Act, 1960Correct Ans Provided: A
Q.15 Salary u/s 17(1) does NOT include which of the following?Ans A. Any annuity or pensionB. Any gratuityC. WagesD. Any advance against salaryCorrect Ans Provided: D
Q.6 Consider the given statement and decide which of the given assumptions is/are implicit in the statement. Statement:Ultimately, Sanya was selected for the World Dance Competition. Assumptions:I. Sanya had been trying hard for some time to get selected ...
Q.32 As per AS-3, cash flows generated from financing activities do NOT involve:Ans A. cash proceeds from the issue of debenturesB. cash proceeds from the issue of sharesC. cash proceeds from the sale of landD. cash proceeds from ...
