Which of the following is true regarding a Trial Balance? MCQ with Answer and Explanation
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Question #1
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Which budget forms the basis of all other budgets?
Correct Answer: Option A
Explanation:
The Sales Budget is typically the starting point (key factor) because production and cash needs depend directly on expected sales volume.
The Sales Budget is typically the starting point (key factor) because production and cash needs depend directly on expected sales volume.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is NOT an objective of Cost Accounting?
Correct Answer: Option D
Explanation:
Tax authorities require financial accounting statements (P&L, Balance Sheet). Cost accounting is an internal management tool.
Tax authorities require financial accounting statements (P&L, Balance Sheet). Cost accounting is an internal management tool.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Section 194O' (TDS on e-commerce) rate is:
Correct Answer: Option A
Explanation:
TDS at 1% on gross amount of sales facilitated by e-commerce operator.
TDS at 1% on gross amount of sales facilitated by e-commerce operator.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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