The 'Interim Dividend' is declared by: MCQ with Answer and Explanation

Question

Share Report Error

The 'Interim Dividend' is declared by:

A. Government

B. Auditors

C. Board of Directors

D. Shareholders

Answer: Option C

Solution (By JKSSB Mock Tests)

Interim dividend can be declared by the Board of Directors between annual general meetings.

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

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Question #1

The primary objective of 'Tax Audit' is:

A. To check compliance with income tax provisions

B. To assess corporate governance

C. To audit GST returns

D. To certify financial statements for banks

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Correct Answer: Option A

Explanation:
Tax audit under Section 44AB ensures compliance with income tax law and correct reporting of income.

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Question #2

Call money market deals in loans for a maximum period of:

A. 1 year

B. 5 years

C. 24 hours only

D. 1 day to 14 days

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Correct Answer: Option D

Explanation:
Call money refers to overnight loans, while notice money covers loans from 2 to 14 days, generally used for inter-bank transactions.

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

Question #3

Under Section 80D of the Income Tax Act, a deduction is allowed for:

A. Interest on education loan

B. Life insurance premiums

C. Medical insurance premiums

D. Donations to charities

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Correct Answer: Option C

Explanation:
Section 80D provides deductions for premiums paid toward health/medical insurance for self, family, and parents.

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

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