In the context of PFMS, what does 'Aadhaar Payment Bridge System' (APBS) facilitate? MCQ with Answer and Explanation

Question

Share Report Error

In the context of PFMS, what does 'Aadhaar Payment Bridge System' (APBS) facilitate?

A. Stock market trading

B. Bank auditing

C. Direct Benefit Transfer using Aadhaar

D. Tax collection

Answer: Option C

Solution (By JKSSB Mock Tests)

APBS facilitates Direct Benefit Transfers (DBT) by using the Aadhaar number as the central key for routing government subsidies to beneficiaries.

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

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

Direct taxes are progressive in nature because:

A. Rate increases with income level

B. They are collected indirectly

C. They are only on goods

D. Rate is same for all

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Direct taxes like income tax have higher rates for higher income slabs, making them progressive.

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

Question #2

S1: The Profit and Loss Appropriation Account is prepared by a company. S2: The Profit and Loss Appropriation Account is prepared by a partnership firm. Which statement(s) is/are correct?

A. S2 only

B. Both S1 and S2

C. Neither S1 nor S2

D. S1 only

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
A company does not prepare a Profit and Loss Appropriation Account; it transfers profits to reserves and dividends via the Statement of Changes in Equity. Only a partnership firm prepares this account to distribute profits among partners. S1 is incorrect, S2 is correct.

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

Question #3

TDS on rent under Section 194I is deducted at:

A. 2%

B. 5% for all

C. 10% for land/building, 2% for plant/machinery

D. 1%

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Section 194I: rent for plant/machinery 2%, for land/building/furniture 10%.

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

Explore All Accountancy and Book Keeping MCQs