5) During the P.Y. 2022-23, Mr. Vishal, a non-resident, received ₹75,00,000 on account of sale of agricultural land in Mauritius. The money was first received in Mauritius and then remitted to his Indian bank account. Is the sum taxable in India?
Anonymous Quiz
25%
No, as agricultural income is exempt u/s 10(1).
40%
No, as the income has accrued and arisen outside India and is also received outside India
15%
Yes, since it is remitted to India in the same year.
20%
Yes, as agricultural income earned outside India is not exempted in India in the hands of a NR
👍6👏4
A Ltd ( GST Reg. In Delhi) has appointed Mr.C (UP) to act as his agent and supply goods on his behalf to buyers in UP, A Ltd has dispatched first lot of 10000 units to Mr.C for sales to buyers in UP. Such dispatch to Mr.C
Anonymous Quiz
50%
Be treated as supply
22%
Not be treated as supply
22%
Will be treated as supply subsequently
5%
None of the above
👏3👍1
Mr. X, aged 61 years, earned dividend of ₹ 12,00,000 from ABC Ltd. in P.Y. 2022-23. Interest on loan taken for the purpose of investment in ABC Ltd., is ₹ 3,00,000. Income included in the hands of Mr. X for P.Y. 2022-23 would be –
Anonymous Quiz
39%
1200000
19%
960000
39%
900000
4%
200000
👍4❤1
8) Mr.Srinivas is a trader of icecream who wants to opt for composition scheme u/s 10(1), if all other conditions satisfies, the total effective composition tax rate applicable to Mr.Srinivas will be -
Anonymous Quiz
15%
1% of turnover in state
26%
1% of turnover of taxable supply in state
17%
5% of turnover in state
42%
Not eligible for composition scheme
👍3👏1
If the converted property is subsequently partitioned among the members of the family, the income derived from such converted property as is received by the spouse of the transferor will be taxable –
Anonymous Quiz
19%
as the income of the karta of the HUF
27%
as the income of the spouse of the transferor
14%
as the income of the HUF
40%
as the income of the transferor-member
👍1
CA Inter Rapid Revision Nov 2023
*REVISE WITH CONCEPTS*
👉 Low Fee Structure
👉 Expert Faculty Panel
👉 Live Interactive Session
👉 Exam Oriented Class
👉 Instant Doubt Clearing
👉 100% Syllabus Coverage
👉 Full assistance till exam
*Let's crack it together*
This will definitely boost your confidence
Book your seats now
Connect us on - 9746 8080 15
Join our what's app study group - https://chat.whatsapp.com/E6JFiZLLR3RFmZnn96qWXD
Join our Telegram channel for MCQ practice - https://t.me/study_cab
Follow our Page for latest updates - https://instagram.com/study__cab?utm_source=qr&igshid=MzNlNGNkZWQ4Mg%3D%3D
For demo & free lectures - youtube.com/@studycab7040
*REVISE WITH CONCEPTS*
👉 Low Fee Structure
👉 Expert Faculty Panel
👉 Live Interactive Session
👉 Exam Oriented Class
👉 Instant Doubt Clearing
👉 100% Syllabus Coverage
👉 Full assistance till exam
*Let's crack it together*
This will definitely boost your confidence
Book your seats now
Connect us on - 9746 8080 15
Join our what's app study group - https://chat.whatsapp.com/E6JFiZLLR3RFmZnn96qWXD
Join our Telegram channel for MCQ practice - https://t.me/study_cab
Follow our Page for latest updates - https://instagram.com/study__cab?utm_source=qr&igshid=MzNlNGNkZWQ4Mg%3D%3D
For demo & free lectures - youtube.com/@studycab7040
👍2
A radio taxi driver has provided his services through Electronic Commerce Operator - Luber cabs. The tax on such supplies shall be paid by -
Anonymous Quiz
70%
Electronic Commerce Operator - Luber cabs
17%
Radio taxi driver
9%
Customer receiving the services from radio taxi driver
4%
None of the above
……………. refer to representations by management, explicit or otherwise, that are embodied in the financial statements, as used by the auditor to consider the different types of potential misstatements that may occur.
Anonymous Quiz
42%
Assertions
11%
Positive Confirmation
17%
Written representation
31%
Audit Evidence
👍4
12) Annual credit sales Rs. 4,00,000; Average collection period 45 days (assume 360 days in a year). What is Average debtors?
Anonymous Quiz
7%
60000
12%
74000
73%
50000
8%
400000
👍1
13) _______ refers to the record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached.
Anonymous Quiz
9%
Audit Techniques
27%
Audit Evidence
62%
Audit Documentation
2%
None of the above
14) What should be the optimum Dividend payout ratio, when r=12% and Ke=10%?
Anonymous Quiz
37%
Zero
20%
50%
34%
12%
9%
100%
A request from the client for the auditor to change the engagement may result from -
Anonymous Quiz
12%
a change in circumstances affecting the need for the service
9%
a misunderstanding as to the nature of an audit or related service originally requested
17%
a restriction on the scope of the engagement,whether imposed by mangmnt or caused by circumstances
63%
All of the above
REVISE WITH CONCEPTS
CA Inter DT Rapid Revision Nov 2023
Finish DT in 3 days with practicing questions
Sep 25,26,27 👉 10am to 5pm
# let's crack it together
Join now
Book your seat now
9746808015
WhatsApp- https://wa.me/919746808015
CA Inter DT Rapid Revision Nov 2023
Finish DT in 3 days with practicing questions
Sep 25,26,27 👉 10am to 5pm
# let's crack it together
Join now
Book your seat now
9746808015
WhatsApp- https://wa.me/919746808015
👍1
16) While evaluating projects with different initial outlay, which of the following methods is more appropriate than NPV?
Anonymous Quiz
22%
Payback period
28%
Accounting rate of return
26%
Profitability index
24%
Discounted Payback Period
17) In order to form the opinion, the auditor shall conclude as to whether the auditor has obtained ______ about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error.
Anonymous Quiz
78%
Reasonable assurance
15%
Absolute assurance
4%
Limited assurance
3%
None of the above
REVISE WITH CONCEPTS
CA Inter IDT Rapid Revision Nov 2023
Finish IDT in 3 days with practicing MCQs & exam questions
Practicing questions = Secure exemption
Sep 29, 30 & Oct 6 👉 10am to 5pm
Lets crack it together
Book your seat now
Connect us on - 9746 8080 15
Our Major links
WhatsApp study group - https://chat.whatsapp.com/E6JFiZLLR3RFmZnn96qWXD
Telegram Channel(exclusively for MCQ practice) - https://t.me/study_cab
For Demo & free lectures - youtube.com/@studycab7040
CA Inter IDT Rapid Revision Nov 2023
Finish IDT in 3 days with practicing MCQs & exam questions
Practicing questions = Secure exemption
Sep 29, 30 & Oct 6 👉 10am to 5pm
Lets crack it together
Book your seat now
Connect us on - 9746 8080 15
Our Major links
WhatsApp study group - https://chat.whatsapp.com/E6JFiZLLR3RFmZnn96qWXD
Telegram Channel(exclusively for MCQ practice) - https://t.me/study_cab
For Demo & free lectures - youtube.com/@studycab7040
18) A company has a Debt Equity ratio of 1.75 as compared to 1.5 Industry average. It means that the company has _______________.
Anonymous Quiz
23%
Higher capital employed
54%
Higher financial risk
13%
Higher capital employed
10%
Higher profitability
19) ______ refers to an attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud, and a critical assessment of audit evidence.
Anonymous Quiz
66%
Professional skepticism
24%
Professional Judgement
9%
Integrity
2%
Objectivity
❤2
20) A company’s Current Ratio is 2.0. If it uses cash to pay creditors , this transaction would cause:
Anonymous Quiz
25%
No change in the liquidity position
25%
No change in current ratio
34%
Decrease in current ratio
16%
Increase in current ratio
👎3
21) P appoints Q, a minor to sell his car for not less than Rs. 2.5Iacs. Q sells it for Rs. 2Iacs, whether P will be bound by the transaction or the transaction will be revoked?
Anonymous Quiz
35%
P will be bound to sell the car for Rs. 2lacs
41%
P will be liable to compensate the party involved, in case of revocation
20%
P will not be bounded by the transaction
4%
None of the above
👍1