The 'Vivad se Vishwas' scheme (2024) is for: MCQ with Answer and Explanation

Question

Share Report Error

The 'Vivad se Vishwas' scheme (2024) is for:

A. All tax disputes

B. Direct tax disputes

C. GST disputes

D. Customs disputes

Answer: Option B

Solution (By JKSSB Mock Tests)

Vivad se Vishwas (2024) is a scheme for settlement of pending income tax disputes.

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

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

The 'Transfer Price' in cost accounting for internal transfers is:

A. Government regulated price

B. Market price only

C. Price at which goods/services are transferred between divisions of the same company

D. Cost plus fixed profit

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Transfer price is the value placed on internal transfers between responsibility centres.

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

Question #2

The 'Voucher Number' should be:

A. Date-based

B. Random

C. Same for all

D. Sequential and unique

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Vouchers should be numbered serially for control and easy reference.

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

Question #3

In cost accounting, Idle Time wages are usually charged to:

A. Profit & Loss Account (if abnormal)

B. Both B and C

C. Direct Labor Account

D. Factory Overheads

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
Normal idle time is charged to Factory Overheads, while abnormal idle time (e.g., strikes, power failure) is charged to the Costing P&L Account.

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

Explore All Accountancy and Book Keeping MCQs