Goods distributed as free samples are debited to: MCQ with Answer and Explanation

Explanation:
Direct taxes (like Income Tax) are progressive, meaning the tax rate increases as income increases. Indirect taxes (like GST) are regressive, as they take a larger percentage of income from low-income earners than high-income earners. Both are correct.

Explanation:
A simple cash book only has a cash column. Bank transactions (like cheques deposited) require a two-column or three-column cash book.

Explanation:
The firm is assuming a cost (Debit Realisation) and compensating the partner who took the liability (Credit Partner's Capital).