Top 350+ Solved Information systems and engineering economics MCQ Questions Answer
Q. A.O.P should consist of :
a. a) individual only
b. b) persons other thanindividual only
c. c) both the above
d. d) none of the above
Q. Body of individual should consist of :
a. a) individual only
b. b) persons other thanindividual only
c. c) both the above
d. d) none of the above
Q. A person leaves India permanently on15-11-2008.The assessment year for income earned till 15-11-2008 in this case shall be:
a. a) 2007-08
b. b) 2008-09
c. c) 2009-10
d. d) none of the above
Q. 24. As per section 30, which expenditure incurred for a building used for the business or profession shallnot be allowed as deduction?
a. rent, rates and taxes
b. b. insurance of building
c. repairs of building
d. capital expenditure
Q. 25. Group of assets falling within a class of assets comprising of tangible & intangible assets isknown as :
a. group of assets
b. b. block of assets
c. set of assets
d. none of these
Q. 27. Depreciation available, if asset is used for less than 180 days during the year of acquisitionshall be of block rate:
a. 50%
b. b. 20%
c. 100%
d. d)15%
Q. If the Computer is purchased on 11th May, 2018 thenat what rate depreciation will be provided on it?
a. 60%
b. b.40%
c. 30%
d. 20%
Q. 30. If the machinery is purchased on 4th October,2018 then at what rate depreciation will be provided on it?
a. 60%
b. b. 7.5%
c. 15%
d. 10%
Q. 31. The transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individualassets and liabilities in the sale is known as :
a. lump sum sale
b. b. slump sale
c. aggregate sale
d. total sale
Q. 32. What is the rate of depreciation charged oncomputer software?
a. 40%
b. b. 15%
c. 60%
d. 100%
Q. 33. Rate of depreciation chargeable onfully temporary wooden structure for the assessment year 2019-20 is
a. 5%
b. b. 10%
c. 100%
d. 40%
Q. 47. DS acquired a building for Rs. ` 15 lakh in June, 2016 in addition to cost of land beneath the building of ` 3 lakh. It was used for personal purposes until he commenced business in June, 2018 and since thenit was used for business purposes. The amountof depreciation eligible in his case for the assessment year 2019-20 would be -
a. rs.` 1,50,000
b. b. rs.` 75,000
c. rs.` 37,500
d. rs.` 1,21,500
Q. XYZ Ltd is engaged in production of textile articles. Opening WDV of the block of assets was Rs.` 15, 00,000. During the year, plant was acquired under this block on 15th June 2018 amounting to Rs.` 10, 00,000. One of the asset falling within the block was sold for Rs. ` 5, 50,000 on 14-01- 2019. Rate of depreciation of the block is 15%.Calculate the total amount of depreciation including additional depreciation available during the previousyear for the block. C
a. rs.` 2,92,500
b. rs.`4,92,500
c. rs.` 3,92,500 88
d. rs.` 3,52,500