The 'Confirmation' from debtors is an example of: MCQ with Answer and Explanation
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Question #1
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The 'Proprietary Ratio' establishes relationship between:
Correct Answer: Option C
Explanation:
Proprietary ratio = Shareholders' funds / Total assets, indicating the proportion of assets financed by owners.
Proprietary ratio = Shareholders' funds / Total assets, indicating the proportion of assets financed by owners.
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Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Under the Income Tax Act, the deduction under Section 80TTA is available for interest earned on savings bank accounts. What is the maximum limit for this deduction?
Correct Answer: Option D
Explanation:
Section 80TTA allows a deduction of up to ₹50,000 for interest income earned from savings accounts maintained with banks or co-operative societies. (Note: 80TTB provides ₹50,000 for senior citizens on all deposits).
Section 80TTA allows a deduction of up to ₹50,000 for interest income earned from savings accounts maintained with banks or co-operative societies. (Note: 80TTB provides ₹50,000 for senior citizens on all deposits).
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Agricultural income in India is:
Correct Answer: Option C
Explanation:
Section 10(1) of the Income Tax Act exempts agricultural income from Central Income Tax.
Section 10(1) of the Income Tax Act exempts agricultural income from Central Income Tax.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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