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Practice Accounts Questions and Answers

Internal auditor is appointed by ________.
Auditing begins where ______ ends.
How much deduction under section 80TTA of Income Tax Act is allowed?
GeM is characterized by which of these three core elements?
What is the significance of GeM Analytics in the Government e-Marketplace?
Who will notify the rate of tax to be levied under CGST Act?
Which of the following taxes will be levied on imports?
Value of supply under section 15(1) is:
Within how many days a person should apply for registration?
Family Pension is taxable under which head of Income?
As per Income Tax Act, Children hostel allowance is exempt upto?
How much deduction under section 24(a) of Income Tax Act is allowable with respect to Income under the head house property?
Process costing is suitable for
Indirect material used in production is classified as
The new concept of One Person Company (OPC) introduced by the Companies Act, 2013 provides that OPC should be registered as a _____________ type of company...
In which document of the company is the purpose or objective of its incorporation mentioned, as per the Companies Act?
What is the maximum number of people that can be offered securities for subscription through private placement in a single financial year?
The work of one clerk is automatically check by another clerk is called _________.
The most difficult type of misstatement to detect fraud is based on __________.
Which report will be submitted by an auditor, if he is dissatisfied regarding the facts and information?
Which accounting standard deals with the recognition, measurement, and presentation of Property, Plant and Equipment?
The section of the companies Act, 2013 which contains provisions regarding remuneration of the auditor is:
What is the standard TDS rate applicable to interest on securities as per Section 193 of the Income Tax Act, 1961?
Under which section of the Income Tax Act, 1961, can an individual claim a deduction for the payment of Medical/Health Insurance Premium?
What is the maximum deduction allowed under Section 80U of the Income Tax Act, 1961, for an individual with a severe disability?
Which section of the Income Tax Act, 1961, allows a deduction of interest paid on loan taken for purchase of an electric vehicle?
ICDS IV primarily deals with which aspect of financial reporting
Under which section of the Income Tax Act, 1961, is the term "person" defined?
What does CBLO stand for?
If a firm has 100 in inventories, a current ratio equal to 1.2, and a quick ratio equal to 1.1, what is the firm's Net Working Capital?
Which of the following ratios is very important to assess the eligibility of a borrower for a Term Loan?
Time of supply means
The value of supply should include:
Which of the following instrument is subject to counter party risk?
The difference between the spot price and the future price of a future is called as _____?
Concurrent audit is a part of:
…………… is the % by how much % can the sales drop down before the organisation start making losses
If the PV ratio us 80% and MOS is 20000. Calculate FC if SP per unit is 5 and Contribution is 40000.
IND AS 115 prescribes a 5-step model for recognition of revenue, identify the correct sequence of the following steps given below: ...
Once the Prospectus is filed with the Registrar of Companies, it is valid for how many days?

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