Articleship assessment test ICAI – MCQ
Question 1:-
The first previous year of a newly started business __________.
(a) Must be equal to 12 months
(b) Can exceed 12 months
(c) Can be equal to or less than 12 months
(d) None of the above
Question 2:-
Jagdeesh started a business on 29.09.2017. The first previous year of his business will be:
(a) Period starting from 1st April 2017 & ending on 31st March 2018
(b) Period starting from 1st April 2018 & ending on 31st March 2019
(c) Period starting on 29th September 2017 & ending on 31st March 2018
(d) None of the above
Question 3:-
Aryan and Ansh are legal heirs of Shekhar. Shekhar died in 2018 and Aryan and Ansh carried on his business without entering into partnership. What is the status of Aryan and Ansh?
(a) Individual
(b) Association of Person
(c) Firm
(d) Body of Individuals
Question 4:-
As per section 172, the assessee carrying on shipping business has to pay _________ of the amount of fare which shall be deemed to be income of such assessee on which income tax will be charged.
(a) 5%
(b) 7.5%
(c) 9%
(d) 10%
Question 5:-
Delhi University is considered as ______________.
(a) Artificial Judicial Person
(b) Association of Persons
(c) Body of Individuals
(d) Local Authority
Answers
- (c) Can be equal to or less than 12 months
- (c) Period starting on 29th September 2017 & ending on 31st March 2018
- (d) Body of Individuals
- (b) 7.5%
- (a) Artificial Judicial Person