Target Cost is calculated as: MCQ with Answer and Explanation
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Question #1
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The 'Section 115BAC' relates to:
Correct Answer: Option C
Explanation:
Section 115BAC provides the concessional tax regime for individuals/HUFs.
Section 115BAC provides the concessional tax regime for individuals/HUFs.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Assertion (A): In the absence of a partnership deed, partners are entitled to interest on capital at 6% p.a. Reason (R): The Indian Partnership Act, 1932 allows interest on capital only if there is an agreement. Choose the correct option:
Correct Answer: Option C
Explanation:
A is false because no interest on capital is allowed without agreement. R is true.
A is false because no interest on capital is allowed without agreement. R is true.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following taxes is subsumed under GST?
Correct Answer: Option B
Explanation:
State VAT, Central Excise, and Service Tax were among the major indirect taxes subsumed into GST.
State VAT, Central Excise, and Service Tax were among the major indirect taxes subsumed into GST.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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