MCQ - CA Final - Quiz & Trivia

1. Schedule VI is applicable to

All Company

Partnership Firm

Proprietory Firm

None of the above

2. Sec 147 of Income Tax Act,1961 deals with:

Income Escaping Assessment

Seizzure of Income

Notice of Scrutiny

Summary Assessment

3. Is there any misconduct if a practising CA enters into a co-authorship with a Cost Accountant who is a Part time lecturer?

No, there is no misconduct.

Yes, he is guilty under Clause 11 Part 1 of First Schedule

Yes, he is guilty under Clause 9 Part 1 of First Schedule

None of these

4. US 44AE ESTIMATED INCOME ON HEAVY GOODS VEHICLE IS CALCULATED ON THE BASIS WHEN THE VEHICLE IS

Hired

Owned

Any

None

5. Ropeway proceeding from the factory is capital goods used inside the factory and hence

Entitled to cenvat credit except capital goods

Not entitle to cenvat credit due to immovable property

Entitle to cenvat credit

None of these

6. What is minimum requirments in months for the industrial articleship?

12

15

9

7

7. Whether a non executive director is a related party as per AS-18?

Yes, being a key management person

Yes, even though not a key management person

No, as not a key management person

Not applicable

8. Whether Indian CA, doing practice outside india is being governed by the Indian CA Act 1949?

Yes

No

Depends on agreement with that country

Council permission needed to practice outside india

9. General Notice of interest under Sec.299 of the Companies has to be submitted by every director

When they become the director

When they inform their readiness to be director

In every calendar year

In every financial year

10. What is Schedule 13 in companies Act ?

Related to directors

Auditors Appointment

Meetings