Under GST, the term 'mixed supply' refers to: MCQ with Answer and Explanation
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Question #1
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Which of the following is a 'Non-Voucher' transaction?
Correct Answer: Option C
Explanation:
Depreciation is a non-cash transaction and does not involve a source document like invoice; it's recorded via journal voucher but is not an external voucher. But the term 'non-voucher' might refer to transactions without a supporting document. Depreciation entry has no source document, so it's often a journal entry. The question is ambiguous but likely pointing to depreciation as a non-cash transaction without physical voucher. Answer A.
Depreciation is a non-cash transaction and does not involve a source document like invoice; it's recorded via journal voucher but is not an external voucher. But the term 'non-voucher' might refer to transactions without a supporting document. Depreciation entry has no source document, so it's often a journal entry. The question is ambiguous but likely pointing to depreciation as a non-cash transaction without physical voucher. Answer A.
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Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Integrated Accounting' system means:
Correct Answer: Option D
Explanation:
Integrated system avoids separate ledgers, using common accounts for both purposes.
Integrated system avoids separate ledgers, using common accounts for both purposes.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Government accounting in India primarily follows which system of accounting for its core budgets?
Correct Answer: Option C
Explanation:
Historically, Indian government accounting is primarily cash-based, tracking the actual flow of funds into and out of government treasuries.
Historically, Indian government accounting is primarily cash-based, tracking the actual flow of funds into and out of government treasuries.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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