In a two-column cash book, the bank column showed a credit balance of ₹5,000. This means: MCQ with Answer and Explanation

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In a two-column cash book, the bank column showed a credit balance of ₹5,000. This means:

A. Bank overdraft ₹5,000

B. Fixed deposit ₹5,000

C. Cash at bank ₹5,000

D. Petty cash ₹5,000

Answer: Option A

Solution (By JKSSB Mock Tests)

Credit balance in bank column indicates liability towards bank, i.e., overdraft.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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The 'Short-Term Capital Gains' on equity shares (STT paid) are taxed at:

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Correct Answer: Option C

Explanation:
STCG on equity shares where STT is paid is taxed at 15%.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Correct Answer: Option A

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Compensation to states for revenue loss was guaranteed for 5 years from GST implementation (2017-2022).

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Correct Answer: Option C

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PFMS uses the banking network and Aadhaar-based payments for DBT.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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