The 'Interest Coverage Ratio' is: MCQ with Answer and Explanation
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Question #1
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The 'TDS on purchase of goods' under Section 194Q is applicable when:
Correct Answer: Option B
Explanation:
Section 194Q requires TDS at 0.1% on purchase of goods exceeding ₹50 lakh by buyer with turnover > ₹10 crore.
Section 194Q requires TDS at 0.1% on purchase of goods exceeding ₹50 lakh by buyer with turnover > ₹10 crore.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The final step in the accounting cycle is:
Correct Answer: Option D
Explanation:
The accounting cycle ends with the preparation of financial statements from the trial balance and adjustments.
The accounting cycle ends with the preparation of financial statements from the trial balance and adjustments.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The concept of 'Cost Control' differs from 'Cost Reduction' in that Cost Control:
Correct Answer: Option C
Explanation:
Cost control ensures costs do not exceed the set budget/standard, while cost reduction seeks to permanently lower the standard itself.
Cost control ensures costs do not exceed the set budget/standard, while cost reduction seeks to permanently lower the standard itself.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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