XII Quiz II

All are documents required for filing BIT except

• Cash Book

• Sales Book

• Bank ATM card

• Journal

In MS Excel, IF is a………. function

• Engineering

• Financial

• Mathematical

• Logical

Values in the cells A1, A2, A3 and A4 are 20,35,55 and 45 respectively. To find the sum of the cells in A5, the correct function is:

• =if(and(A1,A4)

• =sum(A1:A4)

• =if(A1:A4)

• =sum(A1:A3)

What formula will you type in cell D1 to find the average of A1, B1 and C1

(a)  

The tax payable as per the books of accounts was Nu 20000 and later as assessed by the RRCO was Nu 26000. The Difference of Nu 6000 is termed as

• Over provision

• Under provision

• over subscription

• under subscription

Which one of the following best fits the definition of investment property?

• Investment in shares of other companies.

• Land held for capital appreciation

• Building used for office purpose

• Machinery purchased for selling purpose.

The two types of obligations are ………… and constructive.

(a)  

Bonus paid to the spouse of the owner of a business is allowable deduction as per Income Tax Act.

• True

• False

Which of the following statement is not true about intangible assets?

• It does not have any physical existence.

• It is identifiable

• It cannot be separated from other assets

• It is controlled by an entity

The bonds issued without collateral are called

• Unsecured bonds

• Secured bonds

• Convertible bonds

• Zero coupon bonds