Under PFMS, the hierarchy of fund flow tracking ensures that funds meant for a village panchayat can be monitored by: MCQ with Answer and Explanation
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Question #1
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Under the Companies Act 2013, a 'Small Company' is defined based on paid-up share capital and turnover. As per the latest amendments, the paid-up share capital should not exceed:
Correct Answer: Option C
Explanation:
The Companies (Specification of Definition Details) Amendment Rules, 2021, increased the paid-up share capital limit for a Small Company to ₹4 Crores (or ₹10 Crores as per turnover, whichever is lower, but the capital limit was raised to ₹4 Cr).
The Companies (Specification of Definition Details) Amendment Rules, 2021, increased the paid-up share capital limit for a Small Company to ₹4 Crores (or ₹10 Crores as per turnover, whichever is lower, but the capital limit was raised to ₹4 Cr).
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Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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In Social Accounting, which of the following is considered an internal stakeholder?
Correct Answer: Option A
Explanation:
Employees work within the organization and are directly involved in its operations, classifying them as internal stakeholders.
Employees work within the organization and are directly involved in its operations, classifying them as internal stakeholders.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Contingent Liability' for a pending lawsuit is shown in the balance sheet as:
Correct Answer: Option B
Explanation:
It is not recognised as a liability but disclosed by way of a note.
It is not recognised as a liability but disclosed by way of a note.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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