The 'Blockchain' technology in supply chain finance can provide: MCQ with Answer and Explanation
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Question #1
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S1: Goods distributed as free samples are debited to the Advertising Account. S2: Goods distributed as charity are debited to the Charities Account. Which statement(s) is/are correct?
Correct Answer: Option B
Explanation:
Free samples are treated as a promotional expense (Advertising). Free charity goods are treated as a charitable donation. Both require debiting their respective nominal accounts.
Free samples are treated as a promotional expense (Advertising). Free charity goods are treated as a charitable donation. Both require debiting their respective nominal accounts.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'RCM' (Reverse Charge Mechanism) under GST applies to:
Correct Answer: Option C
Explanation:
RCM is applicable to notified categories of goods/services and where supplier is unregistered to registered recipient.
RCM is applicable to notified categories of goods/services and where supplier is unregistered to registered recipient.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The term 'Zero-Based Budgeting' (ZBB) requires:
Correct Answer: Option D
Explanation:
Zero-Based Budgeting requires every expense to be justified for each new period, starting from a 'zero base' rather than using previous budgets.
Zero-Based Budgeting requires every expense to be justified for each new period, starting from a 'zero base' rather than using previous budgets.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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