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What is the Alternative Minimum Tax (AMT) ?

A) A tax system that applies to salaried tax payers

B) A separate tax system that runs parallel to the regular income tax system,
designed to ensure that everyone pays a minimum amount of tax

C) A tax on investment income, such as capital gains and dividends

D) A tax on luxury goods and services

What is the surcharge rate applicable to individuals with a taxable income above
Rs. 50 lakhs but below Rs. 1 crore ?
A) 10% B) 15% C) 20% D) 25%

A company’s product mix is

A) The number of products in its product line

B) The total number of products that the company offers for sale
C) The number of different product lines that the company offers
D) The number of products that the company sells in a given year

Which of the following reflects the marketing concept philosophy ?

A) “You won't find a better deal anywhere”.

B) “When it’s profits versus customer's needs, profits will always win out”.

C) “We are in the business of making and selling superior product’.

D) “We won't have a marketing department; we have a customer department”.

Which of the following is not a type of audit report ?
A) Unqualified report B) Qualified report
C) Status report D) Adverse report

Internal audit

A) An audit function performed by the independent body which is not a part of the
organisation

B) Audit undertaken by employees of the organisation to check financial
irregularities

C) Compulsory as per the statute

D) Audit by independent auditor to improve internal affairs

Which of the following is not a factor that contributes to the digital divide ?
A) Lack of access to technology B) Lack of digital skills and literacy
C) High cost of technology D) Overabundance of technology