List of top Accountancy Questions on Income and Expenditure Account asked in CUET (PG)

The cost audit is important for management because :
A. Cost audit helps in determination and allocation of cost of product.
B. It helps to identify wastage, inconsistency and irregularity in production.
C. It helps in proper valuation of inventory.
D. It facilitates settlement of industrial disputes.
E. It serves as a basis to charge tax on the cost of finished goods.
Choose the most appropriate answer from the options given below :

v

As per income Tax provision, ITR-6 will be applicable for:

For Assessment of firm and calculating tax liability the correct sequence of Income Tax provision will be:
A. Calculation of Income under various heads
B. Calculation of total income and tax liability
C. Adjustment of deduction from Gross total income
D. Define residential status of firm
E. Set-off and carry - forward of losses
Choose the correct answer from the options given below :

An audit which is authorized, governed and made compulsory under any statue is called: