The 'E-Way Bill' under GST is required for movement of goods of value exceeding: MCQ with Answer and Explanation

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

A. ₹50,000

B. ₹5,000

C. ₹10,000

D. ₹1,00,000

Answer: Option A

Solution (By JKSSB Mock Tests)

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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Question #1

In the absence of a partnership deed, interest on partners' capital is allowed at:

A. No interest

B. 12% p.a.

C. 6% p.a.

D. 5% p.a.

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Correct Answer: Option A

Explanation:
According to the Indian Partnership Act, no interest on capital is allowed unless there is an agreement.

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

Question #2

Under the Straight Line Method of depreciation, the amount of depreciation:

A. Remains constant every year

B. Increases every year

C. Decreases every year

D. Fluctuates based on usage

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Correct Answer: Option A

Explanation:
SLM calculates depreciation on the original cost, resulting in the same amount being charged each year.

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

Question #3

A trial balance shows the following: Debtors ₹50,000; Provision for doubtful debts ₹5,000. It is decided to maintain provision at 10% of debtors. The amount to be charged to Profit & Loss Account will be:

A. Nil

B. ₹5,000

C. ₹2,500

D. ₹10,000

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Correct Answer: Option A

Explanation:
Required provision = 10% of 50,000 = 5,000. Existing provision is also ₹5,000. So no additional charge needed. Thus, nil.

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