A company issues 20,000 equity shares of ₹10 each at a premium of ₹2 per share. Total amount received on application if full amount called on application will be: MCQ with Answer and Explanation
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Question #1
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The 'Capital Gains' from sale of long-term listed equity shares (STT paid) exceeding ₹1 lakh are taxed at:
Correct Answer: Option A
Explanation:
LTCG on listed equity shares/equity-oriented funds exceeding ₹1 lakh is taxed at 10% without indexation.
LTCG on listed equity shares/equity-oriented funds exceeding ₹1 lakh is taxed at 10% without indexation.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The balance of the Cash Book represents:
Correct Answer: Option D
Explanation:
A standard triple-column cash book records both cash in hand and cash at bank transactions, so its balance represents both.
A standard triple-column cash book records both cash in hand and cash at bank transactions, so its balance represents both.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following errors will affect the Trial Balance?
Correct Answer: Option D
Explanation:
A one-sided error (e.g., posting to only one account) causes disagreement in trial balance. Other errors may not affect the trial balance agreement.
A one-sided error (e.g., posting to only one account) causes disagreement in trial balance. Other errors may not affect the trial balance agreement.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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