The 'Business Intelligence Unit' in tax department uses: MCQ with Answer and Explanation

Question

Share Report Error

The 'Business Intelligence Unit' in tax department uses:

A. Manual intelligence

B. Only newspaper reports

C. Data analytics to identify tax evasion

D. Physical surveillance

Answer: Option C

Solution (By JKSSB Mock Tests)

BIU uses big data and analytics to detect non-compliance.

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

Share Report

If debt-equity ratio is 2:1 and total assets ₹12,00,000, long-term debt is: (Assume no current liabilities)

A. ₹4,00,000

B. ₹6,00,000

C. ₹8,00,000

D. ₹2,00,000

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Total assets = Equity + Debt (since no CL). D/E = 2, so D=2E. E + 2E = 12L => 3E=12 => E=4L, D=8L.

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

Question #2

Share Report

An amount paid for 'Goodwill' on purchase of a business is classified as:

A. Fictitious asset

B. Current asset

C. Deferred revenue expenditure

D. Intangible asset

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Purchased goodwill is an intangible asset.

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

Question #3

Share Report

In the context of PFMS, what does the term 'Plan' and 'Non-Plan' expenditure classification refer to, and what recent change was made to it?

A. It refers to development and non-development expenditure; it was abolished in 2017-18.

B. It refers to central and state schemes; it was retained for better tracking.

C. It refers to recurring and non-recurring expenditure; it was replaced by the 'Revenue and Capital' classification.

D. It refers to capital and revenue expenditure; it was merged into a single classification.

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
The distinction between Plan and Non-Plan expenditure was abolished in the Union Budget of 2017-18. It was replaced by a more meaningful classification of Capital and Revenue expenditure to improve the quality of government spending.

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

Explore All Accountancy and Book Keeping MCQs