The 'Anti-Dumping Duty' is imposed to: MCQ with Answer and Explanation

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The 'Anti-Dumping Duty' is imposed to:

A. Increase imports

B. Protect domestic industry from cheap imports sold below normal value

C. Reduce customs duty

D. Promote exports

Answer: Option B

Solution (By JKSSB Mock Tests)

Anti-dumping duty is a trade remedy measure.

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

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Question #1

The primary objective of cost accounting is:

A. To prepare financial accounts

B. To ascertain cost and control cost

C. To calculate tax

D. To ascertain selling price

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Correct Answer: Option B

Explanation:
Cost accounting focuses on recording, classifying, and controlling costs to aid management decisions.

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

Question #2

In 'Job Costing', costs are accumulated for:

A. Entire factory

B. Each department

C. Fixed assets

D. Each batch or specific order

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Correct Answer: Option D

Explanation:
Job costing collects costs for each job or order, useful in custom manufacturing.

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Question #3

Under GST, IGST revenue is:

A. Deposited into the RBI reserves

B. Kept entirely by the Central Government

C. Kept entirely by the State Government

D. Apportioned between the Central and the Destination State Government

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Correct Answer: Option D

Explanation:
Being a destination-based tax, IGST is collected by the Centre and shared with the destination state where the goods are consumed.

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

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