In a common-size statement, all items are expressed as percentage of: MCQ with Answer and Explanation
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Question #1
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The 'Virtual Digital Assets' (VDA) are taxed under Income Tax at:
Correct Answer: Option B
Explanation:
Income from transfer of VDAs like cryptocurrency is taxed at 30% flat rate.
Income from transfer of VDAs like cryptocurrency is taxed at 30% flat rate.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Derecognition of Financial Assets' under Ind AS 109 is based on:
Correct Answer: Option D
Explanation:
Derecognition occurs when risks and rewards are substantially transferred.
Derecognition occurs when risks and rewards are substantially transferred.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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For computing Capital Gains, the 'Cost Inflation Index' (CII) is used to:
Correct Answer: Option D
Explanation:
Indexation uses the CII to inflate the original cost of a long-term asset, reducing the taxable capital gain by accounting for inflation.
Indexation uses the CII to inflate the original cost of a long-term asset, reducing the taxable capital gain by accounting for inflation.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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