Sawaal
5
Q:

ETCS means

A) Electronic Tax Collected at Source B) Electric Tax Collected at Source
C) Enable Tax Collected at Source D) Electrical Tax Collected at Source

Answer:   A) Electronic Tax Collected at Source



Explanation:

Tax Collected at Source (TCS) is income tax collected in India payable by the seller who collects in turn from the buyer and it is provided under section 206C of Income Tax Act, 1961 at the sale of some goods which are specified.

E - TCS  is the process of filing TCS returns through electronic media. It is necessary for government and corporate collectors to file TCS returns in its electronic form. Collectors (other than government) have the provision to file TCS returns in physical form or electronic form.

Subject: Accounts Receivable
Exam Prep: Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO
Related Questions
Q:

Which among the following is an asset for a bank?

A) The loans disbursed by Bank to its customers B) Cash Deposits of Customers
C) Investments made by Bank’s customers in its financial Products D) All of the above
 
Answer & Explanation Answer: A) The loans disbursed by Bank to its customers

Explanation:

Asset means anything that can be converted into cash. Here in banks, the loans disbursed by Bank to its customers is considered as assets because when they are cleared by them, then they are directly converted to cash.

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14 2484
Q:

Goods that are excludable include both

A) public goods and common resources B) common resources and private goods
C) natural monopolies and public goods D) private goods and natural monopolies
 
Answer & Explanation Answer: D) private goods and natural monopolies

Explanation:

Goods that are excludable include both private goods and natural monopolies.

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8 3070
Q:

Which one of the following is not a 'Money Market Instrument'?

A) Commercial Paper B) Equity Shares
C) Certificate of Deposit D) Treasury Bills
 
Answer & Explanation Answer: B) Equity Shares

Explanation:

Money market instruments are debt securities that generally give the owner the unconditional right to receive a stated, fixed sum of money on a specified date.


There are several money market instruments in most Western countries, including treasury bills, commercial paper, bankers' acceptances, deposits, certificates of deposit, bills of exchange, repurchase agreements, federal funds, and short-lived mortgage- and asset-backed securities.

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6 2821
Q:

Assets minus liabilities equals

A) Equity B) Net income
C) Working capital D) Net assets
 
Answer & Explanation Answer: A) Equity

Explanation:

Assets minus liabilities equals Equity.

assets_minus_liabilities_equals1556624662.png image

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6 2602
Q:

Other things the same, when the interest rate rises 

A) people would want to lend less, making the supply of loanable funds decrease. B) people would want to lend less, making the quantity of loanable funds supplied decrease.
C) people would want to lend more, making the supply of loanable funds increase. D) people would want to lend more, making the quantity of loanable funds supplied increase.
 
Answer & Explanation Answer: D) people would want to lend more, making the quantity of loanable funds supplied increase.

Explanation:

Other things the same, when the interest rate rises people would want to lend more, making the quantity of loanable funds supplied increase.

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6 2486
Q:

Credit sales are recorded as

A) Accounts Receivable B) Accounts Payable
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) Accounts Receivable

Explanation:
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7 2632
Q:

In a general sense, "cash flow" can be said to equal

A) operating income less taxes B) operating income after taxes minus depreciation
C) operating income less taxes plus depreciation D) operating income before depreciation and taxes plus depreciation
 
Answer & Explanation Answer: B) operating income after taxes minus depreciation

Explanation:
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7 3009
Q:

The journal entry to record a credit sale is

A) Accounts Receivable B) Accounts Payable
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) Accounts Receivable

Explanation:

The journal entry to record a credit sale is Accounts Receivable. Credit sale is nothing butthe customers pay at the time of buying.

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10 2680