Interest on capital is calculated on: MCQ with Answer and Explanation
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Question #1
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A bill of exchange is drawn on 1st January 2024 for 3 months. Its maturity date is:
Correct Answer: Option D
Explanation:
Three months from 1st Jan is 1st April, plus three days of grace = 4th April 2024.
Three months from 1st Jan is 1st April, plus three days of grace = 4th April 2024.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is an extraordinary item?
Correct Answer: Option C
Explanation:
Extraordinary items are unusual and infrequent, e.g., loss from natural disaster, expropriation.
Extraordinary items are unusual and infrequent, e.g., loss from natural disaster, expropriation.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Place of Supply' for inter-state supply is:
Correct Answer: Option A
Explanation:
For inter-state, place of supply generally is the destination state.
For inter-state, place of supply generally is the destination state.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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