Account Ast. 2024 Examination MCQs with solutions

1. Assertion (A): If the interest is payable outside India, tax must be deducted at source.

Reason (R): If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income.


A

Both (A) and (R) are correct and (R) is the correct explanation of (A)

B

Both (A) and (R) are correct but (R) is not the correct explanation of (A)

C

(A) is true but (R) is wrong

D

(A) is wrong but (R) is correct

Taxation - TDS Account Ast. 2024 REPORT
Correct Answer: A
Explanation

Both assertion and reason are correct, and R correctly explains A. TDS must be deducted on interest payable outside India, else deduction is disallowed.

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2. Amount payable at the time of closure or opting out of National Pension Scheme referred to in section 80CCD shall be exempt to the extent of total amount payable.

A

30%

B

100%

C

40%

D

25%

Income Tax - Pension Scheme Account Ast. 2024 REPORT
Correct Answer: C
Explanation

As per section 80CCD, 40% of the amount payable on closure or opting out of NPS is exempt.

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3. Which of the following is/are included in definition of `Goods` as defined under section 2(52) of the CGST Act, 2017?

A

Money

B

Actionable claim

C

Securities

D

Bonds

GST - Goods Definition Account Ast. 2024 REPORT
Correct Answer: B
Explanation

According to CGST Act 2017, `Goods` include every kind of movable property other than money and securities, but include actionable claims.

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4. Income which accrue or arise outside India & also received outside India is taxable in case of:

A

Resident and Ordinary Resident

B

Resident but not Ordinary Resident

C

Non Resident

D

Resident and Ordinary Resident and Resident but not Ordinary Resident

Taxation - Income Tax Account Ast. 2024 REPORT
Correct Answer: A
Explanation

Income accruing and received outside India is taxable only in case of Resident and Ordinary Resident.

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5. GST is a consumption of goods and service tax based on

A

Development

B

Dividend

C

Duration

D

Destination

Taxation - GST Account Ast. 2024 REPORT
Correct Answer: D
Explanation

GST is a destination-based tax, levied at the place of consumption.

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6. In a class of 100 students, every student must pick exactly one sport to play. 28 students pick Football, 27 students pick Kho-Kho, 33 students pick Volleyball and 12 students pick Cricket. 23 boys play Cricket, and 13 boys play Volleyball. Meanwhile out of a total of 40 girls, 13 girls play Kho-Kho. Which of the pairs is/are correctly matched? 


A

a-1, b-2, c-3, d-5

B

a-1, b-2, c-4, d-5

C

a-3, b-1, c-2, d-5

D

a-3, b-2, c-4, d-5

Statistics - Classification Account Ast. 2024 REPORT
Correct Answer: A
Explanation

Girls Kho-Kho=13, Boys Cricket=23, Boys Volleyball=13, Total boys=60. Correct matching is option A.

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7. Eight randomly selected college students were asked to state the number of hours they slept the previous night. The resulting data values are 4, 8, 7, 5, 3, 7, 7, 8. Arrange the following values in decreasing order:

a. Mean of sleeping hours of the students

b. Median of sleeping hours of the students

c. Mode of sleeping hours of the students

d. Number of random Sample


A

a, d, b, c

B

c, d, b, a

C

d, b, a, c

D

c, b, d, a

Statistics - Measures of Central Tendency Account Ast. 2024 REPORT
Correct Answer: C
Explanation

Mean=6.125, Median=7, Mode=7, Sample size=8. Order: d(8) > b(7) > a(6.125) > c(7). So correct is d, b, a, c.

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8. Which of the following statement regarding tabulation is FALSE?

A

Tabulation allows for the presentation of complicated data.

B

Tabulation is a prerequisite for diagrammatic representation of data.

C

Statistical analysis of data necessarily involves tabulation.

D

Tabulation facilitates comparison between rows and not columns

Statistics - Tabulation Account Ast. 2024 REPORT
Correct Answer: D
Explanation

Tabulation allows comparison both row-wise and column-wise. Hence (d) is false.

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9. Forces that act for a limited period of time are referred to as

A

Impulsive forces

B

Interval force

C

Short force

D

Interrupting force

Physics - Mechanics Account Ast. 2024 REPORT
Correct Answer: A
Explanation

Impulsive forces act for a short duration of time, producing a large change in momentum.

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10. Consider the following pairs:



A

1-b, 2-c, 3-d, 4-a

B

1-b, 2-c, 3-a, 4-d

C

1-a, 2-b, 3-c, 4-d

D

1-d, 2-b, 3-a, 4-c

Chemistry - Elements & Symbols Account Ast. 2024 REPORT
Correct Answer: D
Explanation

Sodium = Na, Carbon = C, Sulphur = S, Cobalt = Co. Correct match is option D.

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