The 'Section 44AE' presumptive scheme is for: MCQ with Answer and Explanation
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Question #1
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Which accounting system violates the matching principle?
Correct Answer: Option B
Explanation:
The cash system violates the matching principle because it does not match the revenues of a specific period with the expenses incurred to generate them.
The cash system violates the matching principle because it does not match the revenues of a specific period with the expenses incurred to generate them.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Social accounting primarily focuses on:
Correct Answer: Option C
Explanation:
Social accounting measures and reports the social, environmental, and economic effects of business activities on the community.
Social accounting measures and reports the social, environmental, and economic effects of business activities on the community.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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S1: PFMS is a platform for all direct benefit transfers. S2: PFMS is integrated with the Core Banking System of banks. Which statement(s) is/are correct?
Correct Answer: Option B
Explanation:
PFMS is the primary platform for Direct Benefit Transfers (DBT) under various government schemes. It is integrated with the Core Banking Systems (CBS) of all banks to ensure seamless and direct credit to beneficiaries' accounts. Both are correct.
PFMS is the primary platform for Direct Benefit Transfers (DBT) under various government schemes. It is integrated with the Core Banking Systems (CBS) of all banks to ensure seamless and direct credit to beneficiaries' accounts. Both are correct.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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