Top 150+ Solved Audit Taxation MCQ Questions Answer
Q. Form 3-CB is used for :
a. Truth and fairness of Accounts.
b. Filled in the case of compulsory Audit.
c. Filled by Special Business.
d. Filled by government organizations.
Q. Deduction under section 35-D is related to:
a. Preliminary Expenses
b. Foreign projects.
c. Business of exports.
d. Backwards industries.
Q. Types of EDP Accounting System:
a. Batch Processing .
b. Real – time Processing system.
c. Only A
d. Both A and B .
Q. Full form od CAAT .
a. Computer Application Audit Techniques.
b. Computer Audit Assisted Techniques.
c. Computer Audit Application Techniques.
d. Computer Assisted Audit Techniques.
Q. Problems encountered in an EDP Enviroment:
a. Absence of voucher.
b. Computer virus.
c. Coding Problem.
d. All of the above.
Q. What is EDP?
a. Emergency Data Program
b. Electronic Data parity
c. Electronic Data Processing
d. Emerging Data Processing.
Q. Full form of GAS:
a. General Audit System
b. Generalized Audit Software
c. Generalized Audit System.
d. General Assistant System.
Q. Life Insurance Corporation of India is a _______________.
a. AOP
b. Firm
c. Company
d. Individual
Q. ……………………. is an artificial person registered under Indian Companies Act 1956.
a. Individual
b. Company
c. Firm
d. Local Authority
Q. The apex body of Income Tax Department. is
a. Finance Ministry of Central Govt.
b. Central Govt. of India.
c. CBDT
d. Dept. of Revenue
Q. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in case of
a. Resident
b. Not Ordinarily Resident
c. Non-Resident
d. All of the above
Q. The Income Tax Act, which is still in force in India, was enforced in
a. 1922
b. 1961
c. 1860
d. None of the above
Q. Mr. X has started has business from 1st Sept '16 and does not have any other source of income. His first previous year will start from
a. 1st April '16
b. 1st Sept '16
c. Any of the above
d. None of the above.