Which type of MCQ’s can come in exams ?
Student’s hard work goes increasing with this new pattern because now they have to read each and every concept deeply and do cramming of all the penalties, section numbers so that they easily attempt all the Mcq’s ,now students cannot skip any chapter because no one knows that from where mcq will come. Some examples of MCQ’s for different subjects are here under-
Advanced Auditing and Professional Ethics
1.Que Which of the following is the duty of the Public Accounts Committee?
- to satisfy itself that the moneys were disbursed legally on the service or purpose to
which they were applied
- to verify that the expenditure incurred was authorized
- to ensure that re-appropriation has been made in accordance with the provisions made
- all of the above
Ans all of the above
(You need to focus properly on SA part, more MCQ expected from 200 and 500 Series )
Corporate and Allied Laws
1.Que Any intermittent vacancy of women director shall be filed up by the board at the earliest andnot later than_____ or_______ from date of such vacancy whichever is later.
(a) I month, 3 months
(b) Immediate BM, 3 months
(c) 3 months, Immediate BM
(d) 3 months, 6 months
Ans(b) Immediate BM, 3 months
(In law questions will be mostly based on penalties, sections or powers, 40% of the MCQ’s will be case study based from Directors topic )
Direct Tax Laws
1.Que According to section 80, no loss which has not been determined in pursuance of a return filed in accordance with the provisions of section 139(3), shall be carried forward. The exceptions to this are-
a) Loss from specified business under section 73A
b) Loss under the head “Capital Gains” and un absorbed depreciationcarried forward under section 32(2)
c) Loss from house property and un absorbed depreciation carried forward under section32(2)
d) Loss from speculation business under section73
Ans (c) Loss from house property and un absorbed depreciation carried forward under section32(2)
(In DT, amendments will play important role for MCQ’s. You need to study heads of income and deductions properly. Your practical training experience will be very helpful here)
Indirect Tax Laws
1.Que Two sales occur. In the first sale 500 units are sold at a price of 95 currency unit seach. In the second sale 400 unit sare sold at a price of 90 currency units each. In this example, the greatest number of units sold at a particular price is 500, therefore, the unit price in the greatest aggregate quantity is
Ans (a) 95
(In IDT, questions will be based on dates, you need to learn the concepts where days or months are involved. Mostly questions will be case study based)
One thing is very sure that you need to work on our concept clarity properly to answer the MCQ’s. But you can improve it by practicing more and more MCQ’s. Here the good thing is if you have applied the right concept, you will get full marks.
For any more queries, you can post in the doubts column.
Business Laws, Ethics and Communication
1.Que In commercial transactions, time is considered to be of the essence of the contract, and if the party fails to perform the contract within specified time, the contract becomes:
(a) voidable at the option of the other party
(b) void and cannot be enforced
(c) illegal for non-compliance of legal terms
(d) enforceable in higher court only.
Ans . (a) voidable at the option of the other party
1.Que Where there is a transfer of a capital asset by a partner to the firm by way of capital contribution or otherwise, the consideration would be taken as –
(a) The market value of the capital asset on the date of transfer
(b) The cost less notional depreciation of the capital asset
(c) The value of the asset recorded in the books of the firm.
(d) Any of the above, at the option of the assessee.
Ans(c) The value of the asset recorded in the books of the firm.
Auditing and Assurance
- Que The inventory consists of about 1% of all assets. The client has imposed restriction on auditor to prohibit observation of stock take. The auditor cannot apply alternate audit procedure.
(c)Disclaimer of opinion
Ans.(a) Unqualified opinion
Information Technology and Strategic Management
1.Que In the BPM discipline a details how a company will create value for its customers. It defines the process of the organization.
- Business Architecture
- Business process
- Change program
- Business plan
Ans(a) Business Architecture
Enterprise Information Systems & Strategic Management
1.Que Which of the following requires a firm to establish annual objectives, devise, policies, motivates employees and allocate resources for the execution of strategies?
(a) Strategy formulation
(b) Strategy evaluation
(c) Strategy implementation
(d) Strategy estimation
Ans. Option C Strategy implementation
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Must Read: How To Study For Direct Tax