Social accounting primarily focuses on: MCQ with Answer and Explanation
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Question #1
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The 'Goods and Services Tax' (GST) compensation cess is levied on:
Correct Answer: Option A
Explanation:
Compensation cess is specifically on pan masala, tobacco, coal, aerated drinks, automobiles, etc.
Compensation cess is specifically on pan masala, tobacco, coal, aerated drinks, automobiles, etc.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is NOT a method of preparing a cash flow statement?
Correct Answer: Option A
Explanation:
Cash flow statements can be prepared using the Direct or Indirect method. FIFO is an inventory valuation method, not a cash flow statement method.
Cash flow statements can be prepared using the Direct or Indirect method. FIFO is an inventory valuation method, not a cash flow statement method.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following is NOT a method of calculating depreciation?
Correct Answer: Option D
Explanation:
LIFO (Last In, First Out) is an inventory valuation method, not a method for calculating depreciation.
LIFO (Last In, First Out) is an inventory valuation method, not a method for calculating depreciation.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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