Free Access AAFM.GLO_CWM_LVL_1.v2022-03-02.q349 Practice Test (Page 55)

Question 266

The Indian Taxation System by nature is...........

A.Assertive

B.Progressive

C.None of the above

D.Regressive

Question 267

Movement through phases of the business cycle is initiated by shifts in aggregate demand which create fluctuations in GDP. Which combination of the following statement would be the most significant contributor to the upward shift in aggregate demand?

A.(3) and (4) Only

B.(2) and (4) Only

C.(1) and (3) Only

D.(1), (2), (3) Only

Question 268

RBI has stated that KYC of banks should incorporate the following elements __________.

A.Customer Acceptance policy

B.Monitoring of transactions

C.All of the above

D.Customer identification procedure

Question 269

Deduction under section 80-IC is allowed to the extent of:

A.100% of profits and gains for ten assessment years in case of an undertaking or enterprise in the States of Sikkim or North Eastern States and 100% of profits and gains for the first 5 assessment years and
25% (30% in case of companies) for next 5 assessment years.

B.100% of profits and gains for ten assessment years

C.100% of profits and gains for ten assessment years in case of any undertaking or enterprise in the States of Sikkim or North Eastern Region and 50% in case of undertaking in Uttaranchal and Himachal Pradesh

D.None of These

Question 270

Often burdened with loan and generally both of the spouses work to earn their living. Under which category this type of family falls?

A.Young family

B.Mature family