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Practice More Accountancy and Book Keeping Questions
Question #1
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The objective of 'Financial Statements' is to provide information about:
Correct Answer: Option A
Explanation:
Financial statements present the financial position, performance, and cash flows of an entity.
Financial statements present the financial position, performance, and cash flows of an entity.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Under the General Financial Rules (GFR) 2017, every government servant is expected to maintain absolute integrity and:
Correct Answer: Option A
Explanation:
Rule 3 of GFR 2017 states that every government servant is expected to maintain absolute integrity, absolute honesty, and absolute devotion to duty in the performance of their official duties.
Rule 3 of GFR 2017 states that every government servant is expected to maintain absolute integrity, absolute honesty, and absolute devotion to duty in the performance of their official duties.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Advance tax must be paid in instalments during the financial year if the estimated tax liability exceeds:
Correct Answer: Option C
Explanation:
Under Section 208, advance tax is mandatory if the estimated tax liability for the year is Rs 10,000 or more.
Under Section 208, advance tax is mandatory if the estimated tax liability for the year is Rs 10,000 or more.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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