Yellow Belt Basic

Dinesh Enterprises had set a budget of Rs. 1,00,000 for their Marketing expenses, they have utilized only Rs. 45,000. The balance 55,000 will be called as ____________ .

• Budget Surplus
• Budget Deficit
• Balanced Budget
• None of the above

Suresh Enterprises sells goods on credit to his customers for an amount upto 5,00,000. This amount is called as _________________.

• Credit Limit
• Budget
• Cost centre
• Interest

Bright Enterprises is a medium sized organization and further classified into multiple departments. The owner wants to know the expenses (Conveyance, Printing & Stationary, Rent, etc.) incurred by each department. The departments can be best referred to as ____________

• Cost centres
• Ledgers
• Groups
• Scenarios

Trilok Traders deducts a certain amount of the total rent payable to their landlord. This amount deducted by Trilok Traders is treated as ______________

• Tax deducted at source (TDS)
• Tax collected at source (TCS)
• Income Tax
• GST

For the TDS payments other than salary, _________ is the quarterly return filed by the deductor.

• Form 26Q
• Form 27Q
• GSTR-1
• GSTR-3B

When a company sells goods/services in a foreign currency, and when the prevailing exchange rate differs due to conversion of foreign currency into the local currency of seller, the difference will be treated as _________________

• Forex gain/loss
• Difference in opening balances
• Gross Profit
• Nett profit

Excellent enterprises allows a period of 30 days for their customer Trio Traders to make the payment. This period of 30 days is known as __________

• Credit days
• Credit limit
• Tracking period
• Interest period

Dinesh Enterprises owes money to their suppliers for purchases made earlier. The money that is owed to suppliers is referred to as ___________.

• Payables
• Receivables
• Reminder Letter
• Payment Advice

If the customer returns the goods post the sales invoice raised by his seller, then the seller issues ________ to the extent of the value of the product returned by his customer.

• Credit Note
• Rejection Out
• Material Out
• Revise the sale invoice

Shine Traders has set a level of 25 nos for all of its stock items below which if the stock goes, an order must be placed with the supplier for the items. ________ is the level of stock that has to be maintained in the business at any given point of time.

• Reorder Level
• Minimum Order Level
• Shortfall
• Nett Available