The 'Tax Deduction at Source' (TDS) certificate for salary is Form: MCQ with Answer and Explanation
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Practice More Accountancy and Book Keeping Questions
Question #1
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Cash basis accounting recognizes revenue when:
Correct Answer: Option D
Explanation:
Under cash basis, transactions are recorded only when cash is received or paid, not when accrued.
Under cash basis, transactions are recorded only when cash is received or paid, not when accrued.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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A favorable balance as per Pass Book means:
Correct Answer: Option D
Explanation:
From the bank's perspective, customer deposits are liabilities. A positive (favorable) balance is therefore a credit balance in the Pass Book.
From the bank's perspective, customer deposits are liabilities. A positive (favorable) balance is therefore a credit balance in the Pass Book.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Derecognition of Financial Assets' under Ind AS 109 is based on:
Correct Answer: Option A
Explanation:
Derecognition occurs when risks and rewards are substantially transferred.
Derecognition occurs when risks and rewards are substantially transferred.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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