The 'ASB' stands for: MCQ with Answer and Explanation
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Question #1
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Which of the following is a feature of a cooperative society?
Correct Answer: Option B
Explanation:
A cooperative society is a voluntary association of persons who join together with a service motive rather than profit, and it is managed democratically.
A cooperative society is a voluntary association of persons who join together with a service motive rather than profit, and it is managed democratically.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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A tax levied on a person based on their net wealth was the Wealth Tax. In India, Wealth Tax was abolished in:
Correct Answer: Option B
Explanation:
Wealth tax was abolished in the Union Budget of 2015-16, replaced by an additional surcharge on the super-rich.
Wealth tax was abolished in the Union Budget of 2015-16, replaced by an additional surcharge on the super-rich.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Actuarial Gains and Losses' on defined benefit plans are recognised in:
Correct Answer: Option A
Explanation:
Ind AS 19 requires actuarial gains/losses to be recognised in OCI.
Ind AS 19 requires actuarial gains/losses to be recognised in OCI.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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