The 'Insolvency and Bankruptcy Code' (IBC) 2016 provides: MCQ with Answer and Explanation
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Question #1
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Which of the following describes a 'Fictitious Asset'?
Correct Answer: Option C
Explanation:
Fictitious assets (e.g., preliminary expenses, debit balance of P&L) are not true assets; they are unamortized expenses/losses with zero resale value.
Fictitious assets (e.g., preliminary expenses, debit balance of P&L) are not true assets; they are unamortized expenses/losses with zero resale value.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Deduction under Section 80C' is available up to maximum of:
Correct Answer: Option D
Explanation:
Under Section 80C, maximum deduction is ₹1,50,000.
Under Section 80C, maximum deduction is ₹1,50,000.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Anti-Dumping Duty' is imposed to:
Correct Answer: Option A
Explanation:
Anti-dumping duty is a trade remedy measure.
Anti-dumping duty is a trade remedy measure.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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