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CCI Management Trainee (Accounts) Mock Test - 2 - Agriculture Exams MCQ


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30 Questions MCQ Test Cotton Corporation of India Management Trainee (Marketing & Accounts) Mock Test Series 2024 - CCI Management Trainee (Accounts) Mock Test - 2

CCI Management Trainee (Accounts) Mock Test - 2 for Agriculture Exams 2024 is part of Cotton Corporation of India Management Trainee (Marketing & Accounts) Mock Test Series 2024 preparation. The CCI Management Trainee (Accounts) Mock Test - 2 questions and answers have been prepared according to the Agriculture Exams exam syllabus.The CCI Management Trainee (Accounts) Mock Test - 2 MCQs are made for Agriculture Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for CCI Management Trainee (Accounts) Mock Test - 2 below.
Solutions of CCI Management Trainee (Accounts) Mock Test - 2 questions in English are available as part of our Cotton Corporation of India Management Trainee (Marketing & Accounts) Mock Test Series 2024 for Agriculture Exams & CCI Management Trainee (Accounts) Mock Test - 2 solutions in Hindi for Cotton Corporation of India Management Trainee (Marketing & Accounts) Mock Test Series 2024 course. Download more important topics, notes, lectures and mock test series for Agriculture Exams Exam by signing up for free. Attempt CCI Management Trainee (Accounts) Mock Test - 2 | 120 questions in 120 minutes | Mock test for Agriculture Exams preparation | Free important questions MCQ to study Cotton Corporation of India Management Trainee (Marketing & Accounts) Mock Test Series 2024 for Agriculture Exams Exam | Download free PDF with solutions
CCI Management Trainee (Accounts) Mock Test - 2 - Question 1

Why is Sardar Patel called the 'Iron Man of India'?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 1

The correct answer is ''Because he was a strict and efficient administrator"
Key Points

  • The passage states, "He was, no doubt, an iron man in the sense that one could rely on him for strict and efficient administration."
  • This means that Sardar Patel was referred to as the 'Iron Man of India' because of his ability to administer with strictness and efficiency.

The other options are not supported by the passage.

CCI Management Trainee (Accounts) Mock Test - 2 - Question 2

The following sentence has been split into four segments. Identify the segment that contains a grammatical error.

Roger went / to an United Kingdom / with his wife / to celebrate Christmas.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 2

The correct answer is 'to an United Kingdom'.

Key Points

  • The segment that contains a grammatical error is: to an United Kingdom.
  • The error is in the use of the article "an" before "United Kingdom."
  • The correct article to use before "United Kingdom" is "the" because "United Kingdom" begins with a consonant sound (/j/), not a vowel sound. Therefore, the correct form should be "to the United Kingdom."

Corrected sentence: Roger went to the United Kingdom with his wife to celebrate Christmas.

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CCI Management Trainee (Accounts) Mock Test - 2 - Question 3

Fill in the blanks choosing the correct set of prepositions:

She whispered ______ his ear, a secret meant ______ be kept ______ them, sealing it ______ a promise.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 3

The correct answer is Option(1) i.e., 'Into; to; between; with'.

Key Points

  • "Whispered into his ear" is a precise usage, emphasizing the directionality of whispering directly to someone's ear.
  • "A secret meant to be kept between them" correctly identifies that the secret is to remain confidential among the specified parties only.
  • "Sealing it with a promise" uses "with" to indicate the method or manner by which the agreement or secret is secured.

Therefore, the complete sentence is She whispered into his ear, a secret meant to be kept between them, sealing it with a promise.

Additional Information

  • Option(2) "In; for; among; by" uses "in his ear," which is less specific than "into his ear," and "among" suggests a broader group than just between two.
  • Option(3) "Into; for; among; with" similarly misapplies "among," indicating a secret shared within a wider group, which conflicts with the intention.
  • Option(4) "To; to; between; with" misuses "to his ear," not capturing the directness of whispering as intended by "into"
CCI Management Trainee (Accounts) Mock Test - 2 - Question 4

Select the most appropriate option to substitute the underlined segment in the given sentence. If there is no need to substitute it, select ‘No substitution required’.

Several accusations were levelled with the politician during the heated debate, casting doubt on his credibility and honest.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 4

The correct answer is 'levelled against'.

Key Points

  • The correct option to substitute the underlined segment in the sentence is "levelled against."
  • The corrected sentence reads: "Several accusations were levelled against the politician during the heated debate, casting doubt on his credibility and honesty."
  • The phrase "levelled against" is idiomatic and widely used in English when accusations or criticisms are directed toward someone. It indicates that the accusations are aimed at or attributed to the person in question.
  • The other options, "levelled for" and "level against," do not fit the intended meaning. "Levelled for" doesn't convey the sense of accusations being directed at someone, and "level against" is not a commonly used phrase in this context.
  • Therefore, "levelled against" is the most appropriate and commonly accepted phrase to indicate accusations being directed at a person or entity.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 5

The following sentence has been split into four segments. Identify the segment that contains a grammatical error.

She can’t come for lunch / with you. / She’ll do some / training in the gym.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 5
The correct answer is 'Option 2' i.e. 'She’ll do some'.
Key Points
  • The segment "She’ll do some" is incomplete and lacks the appropriate verb form.
  • The correct phrase should be "She’ll be doing some," indicating a continuous action.
  • Using "be doing" correctly fits the context of future continuous tense for planned activities.
Therefore, the correct answer is 'She’ll do some'.
Additional Information
  • Option 1: She can’t come for lunch – This segment is correct; it clearly conveys the inability to attend lunch.
  • Option 3: training in the gym – This segment is correct when combined with the appropriate verb form.
  • Option 4: with you – This segment is correctly placed and appropriately connected to the first segment.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 6

Choose the one which can be substituted for the phrase.

"A person who insists on something"

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 6

The correct answer is- Stickler.

Key Points

  • Let's look at the meaning of the marked option:
    • Stickler- a person who insists on a certain quality or type of behavior (एक व्यक्ति जो एक निश्चित गुणवत्ता या व्यवहार के प्रकार पर जोर देता है)
  • Let's look at the meanings of the other given options:
    • Disciplinarian- a person who believes in or practices firm discipline (एक व्यक्ति जो दृढ़ अनुशासन में विश्वास करता है या अभ्यास करता है)
    • Instantaneous- occurring or done in an instant or instantly (तत्काल या तुरन्त में घटित या किया हुआ)
    • Boaster- a person talking with excessive pride and self-satisfaction (अत्यधिक गर्व और आत्म-संतुष्टि के साथ बात करने वाला व्यक्ति)
  • Hence, from the given meanings, we find that Stickler is the correct one-word substitute.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 7

Three statements are given followed by three conclusions numbered I, II and III. Assuming the statements to be true, even if they seem to be at variance with commonly known facts, decide which of the conclusions logically follow(s) from the statements.
Statements:
No river is a sea.
Some rivers are lakes.
All rivers are ponds.
Conclusions:
I. Some lakes are seas.
II. Some ponds are seas.
III. Some lakes are ponds.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 7

Given Statements:
No river is a sea.
Some rivers are lakes.
All rivers are ponds.
The least possible Venn diagram for the given statement is:

Conclusions:
I. I. Some lakes are seas - False (Because, No definite relation given between lakes and seas, so it can be possible).
II. Some ponds are seas - False (Because, No definite relation given between ponds and seas, so it can be possible).
III. Some lakes are ponds - True (Because, some river are lakes and all rivers are ponds, so, the part of lakes which is river is also ponds).
So, Only conclusion III follows

Hence, the correct answer is "Option 3".

CCI Management Trainee (Accounts) Mock Test - 2 - Question 8

DIRECTIONS: In the question given below, there are few statements followed by few conclusions. You have to take the given statements to be true even if they seem to be at variance with commonly known facts and then decide which of the given conclusion logically follow(s) from the given statements.
Statements:
All windows are doors.
All buildings are doors.
All doors are boats.
Conclusions:
I. All windows are boats.
II. All buildings are boats.
III. Some boats are doors.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 8

Statements:
All windows are doors.
All buildings are doors.
All doors are boats.
The least possible Venn diagram for the given statements is as follows:

Conclusions:
I. All windows are boats → True (because → True (because all windows are doors and all doors are boats so all windows are also boats)
II. All buildings are boats → True (because all buildings are doors and all doors are boats so all buildings are also boats)
III. Some boats are doors → True (because all doors are boats So some boats are also doors)
Hence, "All follow" is the correct answer.

CCI Management Trainee (Accounts) Mock Test - 2 - Question 9

Select the letter cluster that will replace the question mark (?) in the following series
BVU, ZXQ, XZM, VBI, TDE, ?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 9

The logic follows here is:

Hence, the correct answer is "RFA".

CCI Management Trainee (Accounts) Mock Test - 2 - Question 10

In an examination 35% candidates failed in one subject and 42% failed in another subject while 15% failed in both subjects. If 2500 candidates had appeared in that exam how many passed in either subject but not in both?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 10

Given:
35% candidates failed in one subject
42% failed in another subject
15% failed in both subjects
2500 candidates had appeared in that exam
Calculation:
Candidates failed in one subject = 35% of 2500
=
= 875
Candidates failed in another subject = 42% of 2500
=
= 1050
Candidates failed in both subjects = 15% of 2500
=
= 375
Candidates passed in one subject = (875 - 375) + (1050 - 375)
= 500 + 675
= 1175
Answer is 1175.

Shortcut Trick

here we have to find the number of students who have passed in either of the subjects.
hence 20(in 1st subject) + 27(in 2nd subject) have failed in either of the subject,
Note: fail in any subject (but not in both) will be the same as pass in any subject (but not in both).
We can say that,
Paas in only one subject: 35 - 15 = 20
and pass in only other subject: 42 - 15 = 27
⇒ 20 + 27 = 47 (have passed in either of the subject)
According to the question,
⇒ 100 units = 2500
⇒ 1 unit = 2500/100 = 25
⇒ 47 × 25 = 1175
Answer is 1175.

CCI Management Trainee (Accounts) Mock Test - 2 - Question 11
Pipes A and B can fill a tank in 10 hours and x hours respectively. Pipe C alone can empty the full tank in 15 hours. When all the three pipes are opened simultaneously for 8 hours, 60% of the tank can be filled. In how many hours can pipes B and C together empty two-fifth of the tank?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 11

Given:

Pipes A and B can fill a tank in 10 hours and x hours respectively.

Pipe C alone can empty the full tank in 15 hours. When all the three pipes are opened simultaneously for 8 hours, 60% of the tank can be filled.

Concept Used:

By Fraction Method

Calculation:

Pipe A fill in the tank in 10 hours

In one hours = 1/10

Pipe B fill in the tank in x hours

In one hours = 1/x

Pipe C alone can empty the full tank in 15 hours.

In one hours = 1/15

When all the three pipes are opened simultaneously for 8 hours, 60% of the tank can be filled.

⇒ (1/10 + 1/x - 1/15)8 = 60/100

⇒ (15x + 150 - 10x)/150x = 60/800

⇒ 90x = 40x + 1200

⇒ 50x = 1200

⇒ x = 24

Total Work is 150x

⇒ 150 × 24 = 3600

B and C together empty two-fifth of the tank

⇒ {3600 × (2/5)}/(10x - 150)

⇒ 1440/90

⇒ 16 hours

∴ 16 hours can pipes B and C together empty two-fifth of the tank.

CCI Management Trainee (Accounts) Mock Test - 2 - Question 12
A boat covers 12 km upstream and 18 km downstream covers the distance 3 h, while it covers 36 km upstream and 24 km downstream covers the distance hr. What is the speed of the current.
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 12

Given:

Boat cover distance in upstream = 12 km

Boat Cover distance in downstream = 18 km

Total time = 3 hr

Boat cover distance in upstream = 36 km

Boat Cover distance in downstream = 24 km

Total time = 6 (1/2) hr

Formula Used:

(Distance)upstream/(Speed of boat - speed of river) + (Distance)downstream /(speed of boat + speed of river) = Total time

Calculation:

Let speed of boat be X and speed of river be Y

According to question,

⇒ 12/(X - Y) + 18/(X + Y) = 3 ----(1)

⇒ 36/(X - Y) + 24/(X + Y) = 13/2 ----(2)

By equation (1) × 3 - equation (2)

⇒ 54/(X + Y) - 24/(X + Y) = 9 - 13/2

⇒ 30/(X + Y) = 5/2

⇒ X + Y = 12 ----(3)

From equation (1)

⇒ 12/(X - Y) + 18/12 = 3

⇒ 12/(X - Y) = 3 - 3/2

⇒ X - Y = (12 × 2)/3

⇒ X - Y = 8 ----(4)

Solve equation (3) and (4)

⇒ 2y = 4

⇒ y =2

∴ Speed of current is 2 km/h.

CCI Management Trainee (Accounts) Mock Test - 2 - Question 13

8 workers can complete a task in (y + 12) days, while 15 machines can do the same task in (2y + 6) days. If the ratio of the efficiency of a worker to a machine is 3:2, then in how many days will 6 workers and 3 machines together complete the task?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 13

Given:
8 workers can complete a task in (y + 12) days
15 machines can do the same task in 
(2y + 6) days
The ratio of the efficiency of a worker to a machine = 3:2

Concept Used:
Total work done = number of workers × efficiency × number of days(or hours)
Calculation:
The work done is the same in both cases so,
⇒ 8 × (y + 12) × 3 = 15 × (2y + 6) × 2
⇒ 24y + 288 = 60y + 180
⇒ 36y = 108
⇒ y = 108/36
⇒ y = 3
So, the work done is 8 × (3+12) × (3) = 360 units
Total efficiency of 6 workers and 3 machines = (6 × 3) + (3 × 2)
⇒ 18 + 6 = 24
So, the number of days taken by 6 workers and 3 machines to complete a work is,
⇒ 360/24 = 15
Hence, the correct answer is 15 days.

CCI Management Trainee (Accounts) Mock Test - 2 - Question 14
Two fair dice are rolled once. What is the probability that the sum of numbers appearing on their tops is odd and at least one die shows a prime number?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 14

Given:

Two fair dice are rolled once.

Concept used:

Probability of an event (event A) occurring, P(A) = F/N

F = Number of ways an event can occur (frequency)

N = Total number of outcomes possible

Calculation:

Total number of outcomes possible, N = 62 = 36

Ways in which the sum of numbers appearing on their tops is odd and at least one die shows a prime number

{(2, 1), (1, 2), (2, 3), (3, 2), (3, 4), (4, 3), (5, 2), (2, 5), (5, 4), (4, 5), (5, 6), (6, 5), (3, 6), (6, 3)}

Number of ways this event can occur, F = 14

Now, the probability that the sum of numbers appearing on their tops is odd and at least one die shows a prime number

=

∴ The probability that the sum of numbers appearing on their tops is odd and at least one die shows a prime number is .

CCI Management Trainee (Accounts) Mock Test - 2 - Question 15

X , Y and Z can complete a work in 5 days, 15 days and 30 days, respectively. In how days can the work be completed if X is assisted by Y and Z together, on every second day?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 15

Given:
X , Y and Z can complete a work in 5 days, 15 days and 30 days, respectively.
Concept used:
Efficiency = (Total work / Total time taken)
Efficiency = work done in a single day
Calculation:
Let total work is 30 units ( Lcm of 5 . 15 and 30 )
The efficiency of X is
⇒ 30 / 5 = 6 unit
Again, the Efficiency of Y is,
⇒ 30 / 15 = 2 unit
Again, the Efficiency of Z is,
⇒ 30 / 30 = 1 unit
Total Efficiency,
⇒ 6 + 2 + 1= 9 unit
Efficiency of Y + Z = 3 units
Total work done in 1st, and 3rd day
⇒ 2 ×( 9+3) = 24 units
Y + Z together does in 2nd and 4 th day is, 3 × 2 = 6 unit
The number of days required is 2 + 2 = 4 days
∴ The correct option is 2

CCI Management Trainee (Accounts) Mock Test - 2 - Question 16
Which of the following articles of the Indian Constitution deals with the right to work, education, and public assistance in certain cases?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 16

The correct answer is Article 41.Key Points

  • Article 41 of the Indian Constitution falls under the Directive Principles of State Policy.
  • These principles, although non-justiciable, serve as guidelines or principles that the State (at both the Centre and State levels) should keep in mind while framing laws and policies.
  • Article 41 specifically states: "The State shall, within the limits of its economic capacity and development, make effective provision for securing the right to work, to education and to public assistance in cases of unemployment, old age, sickness and disablement, and in other cases of undeserved want."

Additional Information

  • ​Article 51: This is part of the Directive Principles of State Policy.
    • It pertains to the State’s duty to foster respect for international law and treaty obligations.
  • Article 32: This is part of the Fundamental Rights.
    • It provides the right to Constitutional remedies, which means that a person has the right to move to the Supreme Court (and high courts) for getting his/her Fundamental Rights protected.
  • Article 72: This Article deals with the powers of the President of India to grant pardons, etc., and to suspend, remit, or commute sentences in certain cases.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 17
We among the following were the members of the drafting committee of the constitution?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 17

The correct answer is N Gopalaswami.

Important Points

  • The Constituent Assembly appointed a Drafting Committee on 29 August 1947 under the chairmanship of Dr. B.R. Ambedakar.
  • The draft was prepared by Sir B.N. Rau, Advisor to the Constituent Assembly.
  • A Seven member Committee was constituted to examine the draft.
  • They were-
    • Alladi Krishnaswami Ayyar,
    • N. Gopalaswami.
    • B.R. Ambedkar (Chairman of the drafting committee.)
    • K.M Munshi.
    • Mohammad Saadulla.
    • B.L. Mitter.
    • D.P . Khaitan

Additional Information

  • Dr. B.R. Ambedkar, who was Law Minister as well as chairman of the Drafting Committee piloted the draft in the Assembly.
  • Dr. Ambedkar presented “Draft Constitution of India”.
  • The “Draft Constitution” was published in February, 1948.
  • It was discussed by the Constituent Assembly clause by in its several sessions and was completed by October 17, 1949.
  • This discussion was known as the second reading.
  • The Constituent Assembly again met on 14 November 1949 to discuss the draft further or to give it a third reading.
  • It was finalised on 26 November 1949 after receiving the signature of the President of the Constituent Assembly.
  • But it was January 26, 1950 which became the date of commencement of the Constitution.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 18
Under which section of the CGST Act, 2017, is GST levied on the supply of petroleum crude, high-speed diesel, motor spirit (petrol), natural gas, and aviation turbine fuel?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 18
GST on the supply of petroleum crude, high-speed diesel, motor spirit (petrol), natural gas, and aviation turbine fuel is levied under Section 9(2) of the CGST Act, 2017. The government can notify the date from which this provision becomes effective.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 19
Which aspect is crucial to establish effective segregation of duties in the purchasing operations of an organization?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 19
Effective segregation of duties involves assigning different buying functions to separate individuals. This helps prevent unauthorized or unnecessary purchases, improper charges, and maintains a system of checks and balances. No single person should have complete control over all buying activities to reduce the risk of errors or fraud.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 20
What is the process of building budgets called?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 20
Budgeting is the process of building budgets. It involves the preparation, implementation, and operation of a budget, which guides managers in the decision-making process.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 21
In which section of the Companies Act 2013 is the power of the Board of Directors of a banking company to borrow money covered?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 21
The borrowing powers of the Board of Directors of a company, particularly in the case of a banking company, are covered under Section 179(3) of the Companies Act 2013. This section specifies the powers of the Board on behalf of the company.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 22
According to the cost classification by changes in activity or volume, costs are classified into fixed, variable, and semi-variable costs. What are fixed costs?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 22
Fixed costs, according to the cost classification by changes in activity or volume, are costs that remain fixed in total amount with changes in the level of activity or volume of production. These costs do not change with the increase or decrease in production and remain constant over a given period of time. Examples of fixed costs include rent, insurance of factory buildings, and salaries of managers.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 23
According to the cost classification by controllability, costs can be classified as controllable costs and non-controllable costs. What is a controllable cost?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 23
According to the cost classification by controllability, a controllable cost is a cost which can be influenced by the action of a specified member of an undertaking. This means that the cost can be controlled or managed by a specific individual or department within the organization. Examples of controllable costs include labor costs, material costs, and certain overhead costs.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 24
What can RBI do regarding capital account transactions under FEMA?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 24
RBI has the authority to restrict various capital account transactions under FEMA. This includes the transfer of foreign securities by Indian residents, the transfer of foreign securities by Indian residents that are now outside India, and the transfer of immovable property. RBI sets the limits and regulations for these transactions after discussions with the Indian government.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 25
What action should a company take if it holds its first annual general meeting within 12 months of incorporation?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 25
If a company holds its first annual general meeting within 12 months of incorporation, it is not required to hold any more annual general meetings in the current year or the following year.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 26
Under what circumstances can individual shareholders bring action against the company for breach of duty by directors and majority shareholders?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 26
Individual shareholders can bring action against the company for breach of duty by directors and majority shareholders when the breach of duty harms the company due to mismanagement. This provision allows shareholders, particularly minority shareholders, to seek legal remedies when the actions of the majority and directors negatively impact the company's performance and well-being.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 27
How can the significance of cost of capital be described?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 27
The cost of capital is significant in various aspects of financial management. It helps in maximizing the value of the firm, guiding capital budgeting decisions, and determining dividend policy.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 28
What is the right to safety under the Consumer Protection Act?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 28
The right to safety under the Consumer Protection Act refers to the consumer's right to be protected against goods and services that are hazardous to health or life.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 29
When can an appeal be filed before the High Court against an order of the Income Tax Appellate Tribunal (ITAT)?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 29
An appeal against an order of the Income Tax Appellate Tribunal (ITAT) lies before the High Court within 120 days of receiving the ITAT's order. The appeal should state the substantial question of law for consideration.
CCI Management Trainee (Accounts) Mock Test - 2 - Question 30
What is the significance of the Double Account System for public utility undertakings?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 2 - Question 30
The Double Account System is significant because it discloses the sources of capital and how they are utilized in acquiring various fixed assets. It provides transparency in financial reporting for public utility undertakings.
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