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Professional Accountant

Total questions: 52

Worksheet time: 26mins

Name
Class
Date
1.

Aggregate turnover includes:

a)

Intra-State supplies

b)

Inter-State supplies

c)

Exempt supplies

d)

All of the above

2.

Which supply is considered a composite supply?

a)

Supply of furniture with delivery and installation

b)

Mobile phone with accessories sold separately

c)

Tea and biscuit sold together at a cafeteria

d)

Books and pens sold together without being packed

3.

Mixed supply means:

a)

Naturally bundled supplies

b)

Supplies made for a single price but not naturally bundled

c)

Two separate supplies billed differently

d)

None of the above

4.

Composition scheme turnover limit for traders is:

a)

₹20 Lakhs

b)

₹40 Lakhs

c)

₹1.5 Crores

d)

₹2 Crores

5.

Composition dealers are not allowed to:

a)

Issue tax invoices

b)

Pay tax at a lower rate

c)

File GSTR-4

d)

Maintain records

6.

GST registration is mandatory if aggregate turnover exceeds:

a)

₹10 lakhs

b)

₹20 lakhs (₹10L for NE states)

c)

₹5 lakhs

d)

₹1 crore

7.

Voluntary registration under GST is:

a)

Not permitted

b)

Allowed anytime

c)

Allowed only above threshold

d)

Allowed only to composition taxpayers

8.

Input tax credit is available only if:

a)

Goods/services received

b)

Tax invoice available

c)

GSTR-2B reflects the same

d)

All of the above

9.

ITC is not available for:

a)

Inputs used in zero-rated supply

b)

Capital goods

c)

Personal use of goods

d)

Inputs used in exports

10.

Last date to avail ITC for FY 2023–24 is:

a)

30 April 2024

b)

31 July 2024 or Annual Return filing, whichever is earlier

c)

30 november 2024 or Annual Return filing, whichever is earlier

d)

31 March 2025

11.

GSTR-1 is due on:

a)

10th of next month

b)

20th of next month

c)

11th of next month

d)

15th of next month

12.

Which item is not counted in aggregate turnover?

a)

Exempt supply

b)

Export supply

c)

Interest on loans paid

d)

Inter-state supply

13.

Which of the following restricts ITC?

a)

Goods for personal use

b)

Works contract for construction

c)

Membership to clubs

d)

All of the above

14.

Raising invoice before movement of goods is called:

a)

Delivery challan

b)

Tax invoice

c)

Bill of supply

d)

Debit note

15.

Which is ineligible for Composition Scheme?

a)

Manufacturer

b)

Trader

c)

Service provider with restaurant services

d)

Interstate supplier

16.

ITC on motor vehicles is restricted unless used for:

a)

Transport of goods

b)

Transport of passengers

c)

Driving school

d)

All of the above

17.

A taxpayer must register under GST if:

a)

Makes taxable supply

b)

Supplies inter-state

c)

Supplies on e-commerce

d)

All of the above

18.

Sales entry in Tally is recorded in:

a)

Payment Voucher

b)

Receipt Voucher

c)

Sales Voucher

d)

Purchase Voucher

19.

To record manufacturing process, use:

a)

Receipt Note

b)

Manufacturing Journal

c)

Stock Journal

d)

Rejection In

20.

Creating stock item requires:

a)

Group & Unit

b)

Tax Classification

c)

Item code

d)

All of the above

21.

To transfer stock between godowns:

a)

Interbranch Stock Journal

b)

Purchase Voucher

c)

Delivery Note

d)

Contra Voucher

22.

Price Level in Tally is used for:

a)

Setting sale price by party

b)

Currency conversion

c)

Inventory valuation

d)

Ledger classification

23.

Bill-wise details are useful for:

a)

Payment tracking

b)

Stock valuation

c)

Grouping items

d)

Inventory transfer

24.

Which report shows summary of all ledgers:

a)

Trial Balance

b)

Day Book

c)

Ledger

d)

Stock Summary

25.

To configure GST in Tally, go to:

a)

F11 > Statutory

b)

F12 > Inventory

c)

Alt+G > Features

d)

None

26.

To view GST returns in Tally:

a)

Gateway > Display

b)

Gateway > Reports > GST

c)

Gateway > Display More Reports

d)

Gateway > Utilities

27.

Stock group is used to:

a)

Classify items

b)

Create entries

c)

Generate returns

d)

Generate trial balance

28.

Manufacturing journal allows:

a)

Direct stock sale

b)

Conversion of raw material to finished goods

c)

Record payments

d)

Issue invoice

29.

Tally supports multiple price levels:

a)

Yes

b)

No

c)

Only for services

d)

Only for manufacturing

30.

For inter-godown transfer GST is:

a)

Not applicable

b)

Charged on transfer value

c)

Charged on cost

d)

Based on distance

31.

To enable bill-wise feature:

a)

F11 > Accounting

b)

F12 > Voucher Entry

c)

Ledger creation > Yes for bill-wise details

d)

All of the above

32.

Ledger for GST Output should be created under:

a)

Duties & Taxes

b)

Sales

c)

Income

d)

Current Liabilities

33.

TDS entries are recorded using:

a)

Journal Voucher

b)

Payment Voucher with TDS deducted

c)

Both

d)

None

34.

Which report in Tally is used for receivables:

a)

Ledger

b)

Outstanding Receivables

c)

Day Book

d)

Cash Flow

35.

To maintain multiple godowns, enable in:

a)

F11 > Inventory Features

b)

Company Creation

c)

Ledger Master

d)

F12

36.

TDS under section 194C is for:

a)

Rent

b)

Contractor

c)

Interest

d)

Commission

37.

Limit for TDS under 194C (single contract):

a)

₹10,000

b)

₹20,000

c)

₹30,000

d)

₹50,000

38.

Section 40A(3) disallows cash payment above:

a)

₹5,000

b)

₹10,000

c)

₹20,000

d)

₹25,000

39.

Due date for TDS deposit (non-govt):

a)

7th of next month

b)

10th of next month

c)

15th of next month

d)

30th of next year

40.

In Tally, TDS ledger is under:

a)

Duties & Taxes

b)

Current Liabilities

c)

Indirect Expenses

d)

Direct Incomes

41.

Which Excel function searches vertically?

a)

HLOOKUP

b)

VLOOKUP

c)

MATCH

d)

SEARCH

42.

Pivot table is used for:

a)

Data summarization

b)

Data filtering

c)

Both

d)

None

43.

Which Excel feature runs automation?

a)

IF

b)

Macro

c)

Goal Seek

d)

Flash Fill

44.

Which function returns one of two values based on condition?

a)

SUM

b)

IF

c)

COUNT

d)

ROUND

45.

What is the default separator in VLOOKUP?

a)

;

b)

,

c)

:

d)

|

46.

Macro is recorded in Excel using:

a)

View Tab > Macros

b)

Insert Tab

c)

Review Tab

d)

Data Tab

47.

TDS not deposited is treated as:

a)

Expense

b)

Liability

c)

Asset

d)

Not shown

48.

IF function syntax:

a)

IF(logical_test, value_if_true, value_if_false)

b)

IF(value, condition)

c)

IF(test)

d)

IF(value1, value2)

49.

Excel formula to calculate GST (18%):

a)

=A1*0.18

b)

=GST(A1)

c)

=A1/0.18

d)

=A1+0.18

50.

To trace formula dependency in Excel:

a)

Formula Tab > Trace Precedents

b)

Home Tab > Track

c)

View Tab > Link

d)

Review Tab > Formula

51.

TDS entries in Excel include:

a)

Party Name, PAN, Amount, TDS Rate, TDS Amount

b)

TIN

c)

GSTIN

d)

Only PAN

52.

Which section relates to TDS on rent:

a)

194I

b)

194C

c)

194A

d)

194H

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