The 'Finance Act' gives effect to: MCQ with Answer and Explanation

Question Report Error

The 'Finance Act' gives effect to:

A. Financial proposals of the government for the year

B. Insurance regulation

C. Banking regulation

D. Company law amendments

Answer: Option A

Solution (By JKExamLibrary)

Finance Act is passed to enact the tax proposals of the budget.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1 Report Error

The Margin of Safety is the difference between:

A. Total Revenue and Total Cost

B. Selling Price and Variable Cost

C. Total Cost and Variable Cost

D. Actual Sales and Break-Even Sales

View Answer & Solution Discuss

Correct Answer: Option D

Explanation:
Margin of safety indicates how much sales can drop before the business starts incurring a loss. Formula: Actual Sales - Break-Even Sales.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2 Report Error

The 'Centralised Processing Centre' (CPC) of Income Tax Department processes returns for:

A. All assesses

B. TDS returns only

C. E-filed returns

D. Paper returns only

View Answer & Solution Discuss

Correct Answer: Option C

Explanation:
CPC processes electronically filed returns for faster processing.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3 Report Error

'Earnings Per Share' is computed under:

A. AS 20

B. AS 19

C. AS 22

D. AS 21

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
AS 20 prescribes the calculation and presentation of EPS.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Explore All Accountancy and Book Keeping MCQs