Bank Overdraft appears in the balance sheet under: MCQ with Answer and Explanation
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Question #1
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Which formula determines the Return on Equity (ROE)?
Correct Answer: Option A
Explanation:
ROE measures the profitability of equity funds, showing how much profit a company generates with the money shareholders have invested.
ROE measures the profitability of equity funds, showing how much profit a company generates with the money shareholders have invested.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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A specific tax levied for a particular purpose on top of the basic tax rate is known as:
Correct Answer: Option A
Explanation:
A cess (e.g., Health and Education Cess) is levied for a specific purpose and the revenue must be utilized for that objective only.
A cess (e.g., Health and Education Cess) is levied for a specific purpose and the revenue must be utilized for that objective only.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Faceless Penalty' scheme under income tax was introduced in:
Correct Answer: Option B
Explanation:
Faceless penalty scheme was launched in 2021 to impart transparency.
Faceless penalty scheme was launched in 2021 to impart transparency.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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