For computing Capital Gains, the 'Cost Inflation Index' (CII) is used to: MCQ with Answer and Explanation
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Question #1
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The minimum number of members in a private company is:
Correct Answer: Option B
Explanation:
Private company requires minimum 2 members.
Private company requires minimum 2 members.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Arm's Length Price' is:
Correct Answer: Option C
Explanation:
Arm's length price is the price applied in a transaction between independent parties under similar conditions.
Arm's length price is the price applied in a transaction between independent parties under similar conditions.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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S1: Under Ind AS 116, short-term leases (12 months or less) and leases of low-value assets are exempt from recognizing right-of-use assets and lease liabilities. S2: For these exempt leases, the lease payments are recognized as an expense on a straight-line basis over the lease term. Which statement(s) is/are correct?
Correct Answer: Option B
Explanation:
Both statements are correct. Ind AS 116 provides a recognition exemption for short-term and low-value leases, allowing lessees to simply recognize the lease payments as an expense, typically on a straight-line basis.
Both statements are correct. Ind AS 116 provides a recognition exemption for short-term and low-value leases, allowing lessees to simply recognize the lease payments as an expense, typically on a straight-line basis.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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