The 'Tax Deduction at Source' (TDS) certificate for salary is Form: MCQ with Answer and Explanation

Question
The 'Tax Deduction at Source' (TDS) certificate for salary is Form:
A. Form 16
B. Form 26AS
C. Form 16A
D. Form 24Q
Answer: Option A
Solution (By JKSSB Mock Tests)
TDS on salary is certified through Form 16.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
In Social Accounting, which of the following is considered an internal stakeholder?
A. Employees
B. Environmental Agencies
C. Local Community
D. Government
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Correct Answer: Option A

Explanation:
Employees work within the organization and are directly involved in its operations, classifying them as internal stakeholders.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
In case of a partnership firm, the liability of partners is:
A. Limited
B. Unlimited but proportionate
C. Unlimited and joint and several
D. Limited to capital
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Correct Answer: Option C

Explanation:
In a general partnership, partners have unlimited liability, jointly and severally, for firm's debts.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Expected Credit Loss' model under Ind AS 109 requires:
A. No provision
B. Provision only when loss is certain
C. Provision based on incurred loss
D. Recognising expected credit losses from the point of initial recognition
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Correct Answer: Option D

Explanation:
ECL model is forward-looking, recognising impairment based on expected losses rather than incurred losses.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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