The 'Composition Scheme' under GST is not available to: MCQ with Answer and Explanation
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Question #1
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The balance in the Share Forfeiture Account after reissue of forfeited shares is transferred to:
Correct Answer: Option D
Explanation:
The profit on reissue of forfeited shares is a capital profit, which is transferred to the Capital Reserve account.
The profit on reissue of forfeited shares is a capital profit, which is transferred to the Capital Reserve account.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is a profitability ratio?
Correct Answer: Option B
Explanation:
Return on Investment (ROI) measures the profitability of the capital employed in the business.
Return on Investment (ROI) measures the profitability of the capital employed in the business.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Trial Balance' is prepared to:
Correct Answer: Option D
Explanation:
Primary purpose is to verify arithmetical accuracy of ledger postings.
Primary purpose is to verify arithmetical accuracy of ledger postings.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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