The 'Export Oriented Unit' (EOU) scheme provides: MCQ with Answer and Explanation

Question
The 'Export Oriented Unit' (EOU) scheme provides:
A. Customs and excise duty exemption on imports and domestic procurement
B. GST exemption only
C. Income tax holiday only
D. No benefit
Answer: Option A
Solution (By JKSSB Mock Tests)
EOUs enjoy various tax and duty exemptions to boost exports.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
The 'Related Party Disclosures' (Ind AS 24) requires disclosure of:
A. Only sales transactions
B. Key management compensation, related party relationships, and transactions
C. Only borrowing
D. Only parent-subsidiary
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Correct Answer: Option B

Explanation:
Ind AS 24 requires comprehensive disclosures.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Which of the following is a technique of cost management?
A. Ratio analysis
B. Tax planning
C. Standard costing
D. Fund flow analysis
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Correct Answer: Option C

Explanation:
Standard costing is a cost management technique for controlling costs through variance analysis.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
In the absence of a Partnership Deed, what is the rate of interest on capital provided to partners?
A. 6% p.a.
B. 9% p.a.
C. No interest is allowed
D. 12% p.a.
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Correct Answer: Option C

Explanation:
According to the Indian Partnership Act, 1932, if there is no deed, no interest on capital is allowed to any partner.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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