S1: Direct taxes are levied on income and wealth. S2: Direct taxes are regressive in nature. Which statement(s) is/are correct? MCQ with Answer and Explanation
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Question #1
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The 'Impairment of Assets' testing: Goodwill is allocated to:
Correct Answer: Option B
Explanation:
Goodwill must be tested for impairment at the CGU level.
Goodwill must be tested for impairment at the CGU level.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Audit Risk' is composed of:
Correct Answer: Option B
Explanation:
Audit risk = Inherent risk × Control risk × Detection risk.
Audit risk = Inherent risk × Control risk × Detection risk.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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S1: In the context of PFMS, the 'Direct Benefit Transfer' (DBT) scheme mandates the use of Aadhaar for authentication. S2: DBT transfers funds directly from the government treasury to the beneficiary's bank account. Which statement(s) is/are correct?
Correct Answer: Option A
Explanation:
Both statements are correct. DBT aims to eliminate leakages by transferring funds directly to beneficiaries' accounts via PFMS, and it heavily relies on Aadhaar seeding and authentication for identity verification.
Both statements are correct. DBT aims to eliminate leakages by transferring funds directly to beneficiaries' accounts via PFMS, and it heavily relies on Aadhaar seeding and authentication for identity verification.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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