The 'Nil-Rated Supply' under GST means: MCQ with Answer and Explanation
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Question #1
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Under GST, the 'Annual Return' (GSTR-9) must be filed by:
Correct Answer: Option D
Explanation:
GSTR-9 is the annual return filed by regular registered taxpayers. Composition dealers, casual taxable persons, non-resident taxable persons, and ISDs file different specific returns (like GSTR-9A, 9B, 9C) and are excluded from the standard GSTR-9.
GSTR-9 is the annual return filed by regular registered taxpayers. Composition dealers, casual taxable persons, non-resident taxable persons, and ISDs file different specific returns (like GSTR-9A, 9B, 9C) and are excluded from the standard GSTR-9.
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Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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An opening journal entry is passed to:
Correct Answer: Option A
Explanation:
The opening entry records the closing balances of real and personal accounts from the previous year into the new books.
The opening entry records the closing balances of real and personal accounts from the previous year into the new books.
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Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The financial ratio that measures short-term solvency is:
Correct Answer: Option A
Explanation:
Current ratio assesses the ability to meet short-term obligations.
Current ratio assesses the ability to meet short-term obligations.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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