At the time of retirement of a partner, goodwill appearing in the balance sheet is: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
TDS (Tax Deducted at Source) must be deposited to the credit of the Central Government by the deductor usually within:
Correct Answer: Option D
Explanation:
Generally, TDS deducted in a month must be deposited to the government by the 7th of the following month.
Generally, TDS deducted in a month must be deposited to the government by the 7th of the following month.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
For real accounts, the rule is:
Correct Answer: Option D
Explanation:
Real accounts (assets) follow: Debit what comes in, credit what goes out.
Real accounts (assets) follow: Debit what comes in, credit what goes out.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
Tax Audit under Income Tax Act is mandatory for businesses with turnover exceeding:
Correct Answer: Option B
Explanation:
Tax audit is required if turnover exceeds ₹1 crore in case of business (subject to digital transaction threshold of ₹10 crore in certain cases). Standard limit ₹1 crore.
Tax audit is required if turnover exceeds ₹1 crore in case of business (subject to digital transaction threshold of ₹10 crore in certain cases). Standard limit ₹1 crore.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!