The due date for filing GSTR-1 (monthly) is: MCQ with Answer and Explanation

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The due date for filing GSTR-1 (monthly) is:

A. 10th of next month

B. 11th of next month

C. 20th of next month

D. Last day of month

Answer: Option B

Solution (By JKSSB Mock Tests)

For monthly filers, GSTR-1 is due on 11th of the following month.

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 'Non-Current Assets Held for Sale' (Ind AS 105) are measured at:

A. Revaluation amount

B. Fair value

C. Lower of carrying amount and fair value less costs to sell

D. Cost

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Correct Answer: Option C

Explanation:
Ind AS 105 requires measurement at lower of carrying amount and fair value less costs to sell.

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

Question #2

Which of the following errors will cause the Trial Balance to disagree?

A. Casting the Sales Return book short by Rs 100

B. Complete omission of a transaction

C. Recording a transaction in the wrong subsidiary book

D. Posting Rs 500 to the debit of Machinary instead of Wages

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Correct Answer: Option A

Explanation:
Short casting (undercasting) a subsidiary book affects only one side of the ledger, resulting in a mismatch in the Trial Balance.

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Question #3

Which of the following describes 'Value Added' in social accounting?

A. Fixed Assets + Working Capital

B. Sales - Cost of bought-in materials and services

C. Gross Profit - Net Profit

D. Sales + Closing Stock

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Correct Answer: Option B

Explanation:
Value added represents the wealth created by the firm, calculated as sales revenue minus the cost of materials/services bought from outside.

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

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