The term 'Noting Charges' is associated with: MCQ with Answer and Explanation

Question Report Error

The term 'Noting Charges' is associated with:

A. Voucher system

B. Depreciation

C. Bills of exchange

D. Bank reconciliation

Answer: Option C

Solution (By JKExamLibrary)

Noting charges are paid to notary public for recording dishonour of a bill.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Practice More Accountancy and Book Keeping Questions

Question #1 Report Error

'Calls-in-Arrears' is shown in Balance Sheet by:

A. Contingent liability

B. Separate liability

C. Adding to share capital

D. Deducting from called-up capital

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Correct Answer: Option D

Explanation:
Calls-in-arrears is shown as deduction from called-up capital.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2 Report Error

The 'Interest Coverage Ratio' is:

A. Equity / Interest

B. Net profit / Interest

C. EBIT / Interest

D. Sales / Interest

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Correct Answer: Option C

Explanation:
Interest coverage ratio = Earnings before interest and taxes (EBIT) / Interest expense.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3 Report Error

In the context of GST, IGST is levied on:

A. Export of goods

B. Intra-state supply

C. Import of services only

D. Inter-state supply

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Correct Answer: Option D

Explanation:
Integrated GST (IGST) is levied on inter-state supply of goods and services, including imports, under the GST regime in India.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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