Which of the following is a 'Money Bill' in India? MCQ with Answer and Explanation

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Which of the following is a 'Money Bill' in India?

A. Bill on labor reforms

B. Finance Bill dealing with taxes

C. Bill for amendment of Companies Act

D. Bill on education

Answer: Option B

Solution (By JKSSB Mock Tests)

Finance Bill is a Money Bill as it deals with taxation and government expenditure.

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

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Question #1

A 'High Current Ratio' indicates:

A. Insolvency

B. Excess liquidity, possibly inefficient use of assets

C. Poor liquidity

D. High profitability

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Correct Answer: Option B

Explanation:
Very high current ratio may indicate idle current assets, not necessarily good.

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

Question #2

Under 'Operating Lease', the asset is shown in the books of:

A. None

B. Both

C. Lessee

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Correct Answer: Option D

Explanation:
In operating lease, lessor retains ownership and asset is in his books.

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

Question #3

The 'Virtual Digital Assets' (VDA) are taxed under Income Tax at:

A. Normal slab rates

B. 20%

C. 10%

D. 30% (plus surcharge and cess)

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Correct Answer: Option D

Explanation:
Income from transfer of VDAs like cryptocurrency is taxed at 30% flat rate.

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

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