Which of the following is NOT a type of budget? MCQ with Answer and Explanation

Question
Which of the following is NOT a type of budget?
A. Zero-Based Budget
B. Flexible Budget
C. Infinite Budget
D. Rolling Budget
Answer: Option C
Solution (By JKSSB Mock Tests)
Flexible, Zero-Based, and Rolling are recognized budgeting techniques. There is no such concept as an 'Infinite Budget'.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
The 'One Person Company' (OPC) concept was introduced in India by:
A. Companies Act, 1956
B. GST Act
C. Companies Act, 2013
D. Income Tax Act
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Correct Answer: Option C

Explanation:
OPC was introduced by Companies Act, 2013 to allow single entrepreneurs to have corporate status.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Which of the following serves as the source document for a Sales Return journal?
A. Purchase Invoice
B. Credit Note
C. Debit Note
D. Cash Memo
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Correct Answer: Option B

Explanation:
A Credit Note is sent to a customer when goods are returned, indicating that their account has been credited (reduced).
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
TDS (Tax Deducted at Source) must be deposited to the credit of the Central Government by the deductor usually within:
A. 7th day of the next month
B. 30 days of deduction
C. Same day of deduction
D. End of the financial year
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Correct Answer: Option A

Explanation:
Generally, TDS deducted in a month must be deposited to the government by the 7th of the following month.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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