The 'Presumptive Taxation' for professionals under Section 44ADA applies to gross receipts up to: MCQ with Answer and Explanation
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Question #1
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A debit balance in a personal account of a creditor indicates:
Correct Answer: Option A
Explanation:
A creditor account with debit balance means the firm has paid excess or he owes money, so he is a debtor.
A creditor account with debit balance means the firm has paid excess or he owes money, so he is a debtor.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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In ratio analysis, 'Stock Turnover Ratio' indicates:
Correct Answer: Option D
Explanation:
Stock turnover = Cost of goods sold / Average stock, measuring inventory management efficiency.
Stock turnover = Cost of goods sold / Average stock, measuring inventory management efficiency.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The term 'Cut Motion' in Parliament refers to:
Correct Answer: Option B
Explanation:
Cut motion is moved to reduce the amount of a demand for grant.
Cut motion is moved to reduce the amount of a demand for grant.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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