Top 350+ Solved Information systems and engineering economics MCQ Questions Answer
Q. For an employee in receipt of hostel expenditure allowance for his three children, the maximum annual allowance exempt under section 10(14) is
a. a) rs.10, 800
b. b) rs.7,200
c. c) rs.9,600
d. d) rs.3,600
Q. For an industrial undertaking fulfilling the conditions, additional depreciation in respect of a machinery costing Rs.10 lakh acquired and installed on October 3, 2005 is
a. a) rs.75,000
b. b) rs.1,50,000
c. c) rs.1,00,000
d. d) none of the above
Q. A.O.P should consist of :
a. a) individual only
b. b) persons other than individual 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 than individual only
c. c) both the above
d. d) none of the above
Q. A new business was set up on15-11-2008 and it commenced its business from 1-12-2008.The first previous year in this case shall be:
a. a) 15-11-2008 to 31-3-2009
b. b) 1-12-2008 to 31-3-2009
c. c) 2008-2009
d. d) none of the above
Q. A person leaves India permanently on 15-11-2008.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 shall not 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 is known 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 acquisition shall be of block rate:
a. 50%
b. b. 20%
c. 100%
d. d)15%