Income tax payable come under ------------------

Related MCQs

• Current liabilities include creditors Rs 2,00,000, Bills payable Rs 1,00,00 Expenses payable Rs 50,000 Bank Overdraft Rs 2,00,000. Quick liabilites will be :
• Which items are added in Current year profit to get Net profit before tax. I)Interim dividend II)Provision for tax III)Refund of tax IV)Transfer to reserves
• The Moore Corporation is considering the acquisition of a new machine. The machine can be purchased for $90000; it will cost $6000 to transport to Moore’s plant and $9,000 to install. It is estimated that the machine will last 10 years, and it is expected to have an estimated salvage value of $5,000. Over its 10-year life, the machine is expected to produce 2,000 units per year, each with a selling price of $500 and combined material and labour costs of $450 per unit. Federal tax regulations permit machines of this type to be depreciated using the straight-line method over 5 years with no estimated salvage value. Moore has a marginal tax rate of 40%. What is the net cash flow for the tenth year of the project that Moore Corporation should use in a capital budgeting analysis?
• Income tax paid should be shown separately as the cash flows from----------- activities.
• The responsibility centres come under the responsibility of -
• Increase in the amount of bills payable results in----------
• Debtors Turnover ratio is also known as (a) Receivables turnover ratio (b) Debtors velocity (c) Stock velocity (d) Payable turnover ratio
• The ratio establishes the relationship between profit before interest and tax and fixed interest charges is .
• Quick assets do not include I)Prepaid Expense II)Advance Tax III)Marketable securities IV)Inventory
• Ratio of net profit before interest and tax to sales is------------------------------