The 'E-Commerce Operator' under GST is required to: MCQ with Answer and Explanation
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Practice More Accountancy and Book Keeping Questions
Question #1
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A partnership deed is:
Correct Answer: Option C
Explanation:
Partnership deed is not compulsory but advisable to avoid disputes. Partnership can exist based on oral agreement.
Partnership deed is not compulsory but advisable to avoid disputes. Partnership can exist based on oral agreement.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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If a transaction involves payment of Rs 10,000 for purchasing a machine, what type of voucher is prepared?
Correct Answer: Option A
Explanation:
A debit voucher is prepared for all cash payments, supporting the outflow of cash for expenses, assets, or creditors.
A debit voucher is prepared for all cash payments, supporting the outflow of cash for expenses, assets, or creditors.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which account is opened for adjusting asset and liability values at the time of admission of a new partner?
Correct Answer: Option C
Explanation:
A Revaluation Account (or Profit & Loss Adjustment A/c) is opened to record gains and losses arising from the revaluation of assets and reassessment of liabilities.
A Revaluation Account (or Profit & Loss Adjustment A/c) is opened to record gains and losses arising from the revaluation of assets and reassessment of liabilities.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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