B:-Tax free benefits
C:-Gift
D:-Perquisites
Correct Answer:- Option-D
Question57:-If an asset transferred without consideration is again transferred by the transferee, the resultant gain or loss is
clubbed with the income of
A:-Former transferee
B:-Later transferee
C:-Former transferor
D:-Any of the above
Correct Answer:- Option-C
Question58:-Business losses cannot be set off against any income except
A:-Income from house property
B:-Capital gains
C:-Income from salary
D:-None of the above
Correct Answer:- Option-C
Question59:-Voluntary retumn is filled under section
A:-139(1)
8:-142(1)
C:-145(1)
D:-None of these
Correct Answer:- Option-A
Question60:-Ex-parte assessment is also called
A:-Precautionary assessment
B:-Best Judgement assessment
C:-Income escaping assessment
D:-None of these
Correct Answer:- Option-B
Question61:-The balance in the Shares Forfeitad Account is transferred to
A:-Capital reserve
B:-General reserve
C:-Securities premium
D:-Free reserves
Correct Answer:- Option-A
Question62:-The Sinking Fund Account is finally closed by transferring the balance to
A:-Capital Reserve
B:-Debentures
C:-Sinking Fund Investment Account
D:-General Reserve Account
Correct Answer:- Option-D
Question63:-Which of the following do not amount to appropriation of profit?
A:-Proposed Dividend
B:-General Reserve
C:-Interim Dividend
D:-Provision for taxation
Correct Answer:- Option-D
Question64:-Any profit on realization of assets at the time of amalgamation is transferred to
A:-Transferee Company
B:-Creditors
C:-Debenture holders
D:-Equity shareholders
Correct Answer:- Option-D
Question65:-Depreciation account is given in
A:-AS 10
B:-AS 14
C:-AS 6
D:-AS 5
Correct Answer:- Option-C