In BRS, if overdraft as per pass book is the starting point, bank charges not recorded in cash book will: MCQ with Answer and Explanation
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Question #1
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In the context of PFMS, the 'Treasury Single Account' (TSA) is maintained with:
Correct Answer: Option B
Explanation:
The TSA is a unified bank account of the government, and it is maintained with the Reserve Bank of India (RBI), which acts as the banker to the government.
The TSA is a unified bank account of the government, and it is maintained with the Reserve Bank of India (RBI), which acts as the banker to the government.
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Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following serves as the source document for a Sales Return journal?
Correct Answer: Option A
Explanation:
A Credit Note is sent to a customer when goods are returned, indicating that their account has been credited (reduced).
A Credit Note is sent to a customer when goods are returned, indicating that their account has been credited (reduced).
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Presumptive Taxation' scheme under Section 44AD is for:
Correct Answer: Option D
Explanation:
Section 44AD allows eligible businesses to declare 8% (or 6% digital) of turnover as presumptive income.
Section 44AD allows eligible businesses to declare 8% (or 6% digital) of turnover as presumptive income.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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