Question
The GST Council which will now oversees the new tax
architecture must focus initially on stabilising the system and then improving on the current design to take it closer to the ideal. Read each sentence to find out whether there is any error in it. The error, if any, will be in one part of the sentence. Mark the part with the error as your answer. If there is no error, mark "No Error" as your answer. (Ignore the errors of punctuation).Solution
Replace ‘oversees’ by ‘oversee’. The council is singular here, and thus will take singular verb ‘oversee’.
With respect to standard costing, which of the following statement is incorrect?
Under which of the following accounting systems, real & nominal accounts are ignored?
If an asset’s recoverable amount is less than its carrying amount, what is the correct treatment under Ind AS 36?
Which of the following section deals with deduction in respect of Interest on deposits in savings/FD account in case of resident senior citizens?
Which of the following reports must be mandatorily submitted by an insurer's statutory auditor to the IRDAI annually?
Which of the following is not regarded as Time adjusted or Discounted Cash flows technique of capital budgeting?
Which of the following Indian Accounting Standard (Ind AS), deals with the reporting and disclosure of contingent liabilities and contingent assets? �...
XYZ Ltd. buys software for ₹10 lakh, with a license period of 3 years. How should it treat this in books?
A machine was purchased on 1st April 2020 for ₹5,00,000. Useful life is 5 years with residual value ₹50,000. Depreciation is charged using written d...
CERSAI was established to prevent fraudulent lending transactions against equitable mortgages. What does the ‘S’ in CERSAI stand for?
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