The Trading Account shows a gross profit of Rs 50,000. Indirect expenses are Rs 20,000 and indirect income is Rs 5,000. What is the Net Profit? MCQ with Answer and Explanation

Question
The Trading Account shows a gross profit of Rs 50,000. Indirect expenses are Rs 20,000 and indirect income is Rs 5,000. What is the Net Profit?
A. Rs 25,000
B. Rs 35,000
C. Rs 75,000
D. Rs 30,000
Answer: Option B
Solution (By JKSSB Mock Tests)
Net Profit = Gross Profit (50,000) + Indirect Income (5,000) - Indirect Expenses (20,000) = Rs 35,000.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
S1: In the context of PFMS, the 'Aadhaar Enabled Payment System' (AePS) allows bank transactions using only the Aadhaar number. S2: AePS requires the beneficiary to have a micro-ATM or PoS device for authentication. Which statement(s) is/are correct?
A. Neither S1 nor S2
B. S1 only
C. S2 only
D. Both S1 and S2
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Correct Answer: Option D

Explanation:
AePS allows online interoperable financial inclusion transactions at micro-ATMs/PoS using Aadhaar authentication. Both statements accurately describe the AePS mechanism under PFMS/DBT.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
A flexible budget is designed to change in relation to:
A. Management decision
B. Fixed expenses
C. Level of activity
D. Time period
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Correct Answer: Option C

Explanation:
Flexible budget adjusts budgeted figures based on actual level of activity.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
Which budget estimates the amount of cash receipts and cash payments during the budget period?
A. Production Budget
B. Capital Budget
C. Cash Budget
D. Sales Budget
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Correct Answer: Option C

Explanation:
A cash budget forecasts the cash inflows and outflows to ensure the firm has adequate liquidity to operate.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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