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Question #1
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The 'One Person Company' (OPC) concept was introduced in India by:
Correct Answer: Option A
Explanation:
OPC was introduced by Companies Act, 2013 to allow single entrepreneurs to have corporate status.
OPC was introduced by Companies Act, 2013 to allow single entrepreneurs to have corporate status.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Tax Deducted at Source (TDS) on rent of land/building under section 194I (exceeding Rs 2.4 lakhs p.a.) is at the rate of:
Correct Answer: Option A
Explanation:
Under Section 194I of the Income Tax Act, TDS on rent for land and buildings is deducted at 10%.
Under Section 194I of the Income Tax Act, TDS on rent for land and buildings is deducted at 10%.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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In the absence of an agreement, what is the profit-sharing ratio among partners?
Correct Answer: Option B
Explanation:
Under the Indian Partnership Act, 1932, if the deed is silent, all partners share profits and losses equally.
Under the Indian Partnership Act, 1932, if the deed is silent, all partners share profits and losses equally.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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