S1: The Indian Financial System comprises both organized and unorganized sectors. S2: The organized sector includes moneylenders and indigenous bankers. Which statement(s) is/are correct? MCQ with Answer and Explanation
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Question #1
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Under Marginal Costing, stock is valued at:
Correct Answer: Option C
Explanation:
Marginal costing values inventory strictly on variable costs, treating fixed overheads as period costs written off immediately.
Marginal costing values inventory strictly on variable costs, treating fixed overheads as period costs written off immediately.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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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
Question #3
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PFMS integrates with which system for Direct Benefit Transfer?
Correct Answer: Option B
Explanation:
PFMS uses the banking network and Aadhaar-based payments for DBT.
PFMS uses the banking network and Aadhaar-based payments for DBT.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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