The term 'Current Cost Accounting' deals with: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
Under GST, the 'Composition Scheme' is not available to which of the following?
Correct Answer: Option C
Explanation:
The Composition Scheme under GST is specifically barred for suppliers of services (other than restaurant services), casual taxable persons, non-resident taxable persons, and suppliers of ice cream, pan masala, tobacco, and casino/gambling services.
The Composition Scheme under GST is specifically barred for suppliers of services (other than restaurant services), casual taxable persons, non-resident taxable persons, and suppliers of ice cream, pan masala, tobacco, and casino/gambling services.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
Under AS 19 'Leases', a lease is classified as finance lease if:
Correct Answer: Option D
Explanation:
Finance lease transfers substantially all risks and rewards of ownership to the lessee.
Finance lease transfers substantially all risks and rewards of ownership to the lessee.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
GST is a comprehensive indirect tax levied on:
Correct Answer: Option A
Explanation:
GST is a destination-based tax on supply of goods and services, replacing multiple indirect taxes.
GST is a destination-based tax on supply of goods and services, replacing multiple indirect taxes.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!