The 'Export Oriented Unit' (EOU) scheme provides: MCQ with Answer and Explanation

Question Report Error
The 'Export Oriented Unit' (EOU) scheme provides:
A. Income tax holiday only
B. GST exemption only
C. No benefit
D. Customs and excise duty exemption on imports and domestic procurement
Answer: Option D
Solution (By JKExamLibrary)
EOUs enjoy various tax and duty exemptions to boost exports.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Practice More Accountancy and Book Keeping Questions

Question #1 Report Error
The 'Contingency Fund' of India is used for:
A. Defense expenditure
B. Interest payments
C. Unforeseen expenditure pending authorization by Parliament
D. Routine government expenses
Discuss

Correct Answer: Option C

Explanation:
Contingency Fund is at the disposal of the President to meet urgent unforeseen expenditure.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2 Report Error
The 'ICAI' issues:
A. Laws
B. Company rules
C. Tax rules
D. Accounting Standards (AS) and Ind AS for non-corporate entities
Discuss

Correct Answer: Option D

Explanation:
ICAI formulates Accounting Standards (AS) and recommends Ind AS, but MCA notifies Ind AS.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3 Report Error
Which of the following statements is correct?
A. Partners share profits equally always
B. Partners get interest on capital in all circumstances
C. A minor can be a full-fledged partner
D. Partners are entitled to salary if deed provides
Discuss

Correct Answer: Option D

Explanation:
Salary to partners is allowed only if partnership deed provides. Interest on capital is not automatic. Profits sharing can be unequal. Minor cannot be a partner, only admitted to benefits.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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