If a business purchases land for Rs 10 lakhs and its market value increases to Rs 15 lakhs, it is still recorded at Rs 10 lakhs due to: MCQ with Answer and Explanation
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Question #1
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The 'Ind AS 24' on Related Party Disclosures requires disclosure of:
Correct Answer: Option B
Explanation:
Ind AS 24 requires disclosure of related party relationships, transactions, and balances.
Ind AS 24 requires disclosure of related party relationships, transactions, and balances.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Book Profit' for MAT calculation under Section 115JB includes:
Correct Answer: Option B
Explanation:
Book profit under MAT is computed by making specified adjustments to net profit as per financial statements.
Book profit under MAT is computed by making specified adjustments to net profit as per financial statements.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Under GST, the 'Annual Return' (GSTR-9) must be filed by:
Correct Answer: Option D
Explanation:
GSTR-9 is the annual return filed by regular registered taxpayers. Composition dealers, casual taxable persons, non-resident taxable persons, and ISDs file different specific returns (like GSTR-9A, 9B, 9C) and are excluded from the standard GSTR-9.
GSTR-9 is the annual return filed by regular registered taxpayers. Composition dealers, casual taxable persons, non-resident taxable persons, and ISDs file different specific returns (like GSTR-9A, 9B, 9C) and are excluded from the standard GSTR-9.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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