The GST 'E-invoicing' is mandatory for taxpayers with aggregate turnover above: MCQ with Answer and Explanation

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The GST 'E-invoicing' is mandatory for taxpayers with aggregate turnover above:

A. ₹5 crore

B. ₹10 crore

C. ₹1 crore

D. ₹20 crore

Answer: Option A

Solution (By JKSSB Mock Tests)

As per recent notifications, e-invoicing is applicable for turnover exceeding ₹5 crore.

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

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Which of the following is a 'Non-Cash Expense'?

A. Commission paid

B. Rent paid

C. Salaries paid

D. Depreciation

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Correct Answer: Option D

Explanation:
Depreciation is a non-cash expense as there is no outflow of cash.

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

Question #2

Social accounting is mandatory for:

A. All public sector units

B. No universal mandate, but some large entities voluntarily disclose

C. All companies

D. All banks

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Correct Answer: Option B

Explanation:
Social accounting is largely voluntary except for some mandated disclosures like CSR.

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

Question #3

Which of the following is a recent development in accounting?

A. Blockchain-based triple-entry accounting

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Correct Answer: Option A

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Blockchain is an emerging technology enabling triple-entry accounting, enhancing transparency and security.

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

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