Q.65 ABC Ltd. have subscribed capital of 40,000 equity shares of ₹100, each fully called up. The company decided a rights issue is to be made in the ratio of one fully paid-up share for every 5 shares ...
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Q.10 Which of the following statements is/are true or false? (i) Abnormal loss arises when actual loss is more than the expected loss.(ii) Abnormal loss is credited to the costing profit and loss account.Ans A. Both (i) and ...
Q.70 CBDT stands for:Ans A. Central Bureau of Direct TaxesB. Compliance Bureau of Direct TaxesC. Central Board of Direct TaxesD. Compliance Board of Direct TaxesCorrect Ans Provided: C
Q.5 Which of the following is NOT a fully exempt allowance?Ans A. Allowance to High Court JudgesB. Allowance granted to Government employees outside IndiaC. Compensatory allowance received by a judgeD. Fixed medical allowanceCorrect Ans Provided: D
Q.3 As per AS-3, cash flows arising from investing activities involve:Ans A. cash proceeds from loansB. cash proceeds from the issue of sharesC. cash proceeds from the issue of debenturesD. cash proceeds from the disposal of fixed assetsCorrect ...
Q.13 Which of the following statements is/are true or false? (i) Cost Accounting is defined as ‘the technique and process of ascertaining costs’.(ii) Costing is defined as ‘the process of accounting for cost which begins with the recording ...
Q.61 The output of process ‘A’ was 2,500 units. The normal loss allowed was 10% of the input. The abnormal loss was 200 units. Material @ ₹5 per unit.Labour @ ₹1.50 per unitProduction overheads ₹2,850Scrap ...
Q.50 As per slab rates of the assessment year 2022-23, the tax liability is nil for resident individuals of the age of 80 years or more at any time when:Ans A. the total income does not exceed ₹10,00,000B. ...
Q.64 Which of the following is NOT a fully taxable allowance?Ans A. Tiffin/Lunch/Dinner allowanceB. Interim allowanceC. Transport allowance to employees other than blind/deaf and dumb/orthopedically handicapped employeeD. Allowance paid by the United Nations OrganisationCorrect Ans Provided: D
Q.4 The marked price of a set of stationery items is ₹432 per pouch. The shopkeeper offers a discount of 4.5% as these were to be distributed on Children’s Day at a school. If the school management ordered ...
