In case of a partnership firm, registration is: MCQ with Answer and Explanation

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In case of a partnership firm, registration is:

A. Mandatory

B. Required only for banking

C. Not compulsory but advisable

D. Not possible

Answer: Option C

Solution (By JKSSB Mock Tests)

Registration of partnership firm is optional, though unregistered firms face some disabilities.

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

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Practice More Accountancy and Book Keeping Questions

Question #1

The term 'Accrued Income' refers to:

A. Income that is not taxable

B. Income earned but not yet received

C. Income from non-business sources

D. Income received in advance

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Correct Answer: Option B

Explanation:
Accrued income is income that has been earned during the accounting period but has not yet been received in cash.

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

Question #2

A contra entry is passed in the:

A. Journal Proper

B. Ledger

C. Cash Book

D. Trial Balance

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Correct Answer: Option C

Explanation:
Contra entries involve transactions between cash and bank columns and are recorded exclusively in the triple-column cash book.

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

Question #3

The 'E-Way Bill' under GST is required for movement of goods of value exceeding:

A. ₹10,000

B. ₹1,00,000

C. ₹50,000

D. ₹5,000

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Correct Answer: Option C

Explanation:
E-way bill is mandatory for inter-state and intra-state movement of goods if consignment value exceeds ₹50,000.

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

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