PERSONAL FINANCE & INVESTMENT - FEBRUARY 2015 (MCQS)

T.Y B.COM

SEMESTER - 6

PERSONAL FINANCE & INVESTMENT 

(PFI) 

MCQS - FEBRUARY 2015

1. Personal finance refers to the financial decisions of ___________

(a) Company

(b) Friends

(c) Relatives

(d) An individual / family

2. Areas of personal financial planning include.

(a) Tax planning only

(b) investment and accumulation goal only

(c) retirement planning only

(d) All of a, b and c

3.  __________ and ____________ are essential to develop and monitor personal financial plans.

(a) income - expense account and balance sheet 

(b) fund flow and balance sheet

(c) directors report and balance sheet

(d) annual reports and balance sheet

4. Outstanding telephone bill is

(a) long-term liability 

(b) Poor liabilities 

(c) short term liability

(d) fixed liability 

5. Net worth = ________

(a) Assets - Liability 

(b) assets + assets

(c) liabilities - liabilities

(d) liabilities + liabilities

6. The maximum amount deductible for the A.Y 2014-15 under section 80 C is Rs. __________

(a) 3,00,000

(b) 1,50,000

(c) 5,000

(d) 1,00,000

7. The payment of medical insurance premium is deductible under section

(a) 80 A

(b) 80 L

(c) 80 D 

(d) 80 B

8. Maximum amount available under section 80 TTA is

(a) Rs. 10,000

(b) Rs. 15,000

(c) Rs. 20,000

(d) entire amount

9. Under section 87A the deduction is available if taxable income is

(a) Rs. 7,00,000 or less

(b) Rs. 5,00,000 or less

(c) Rs. 8,00,000 or less 

(d) Rs. 4,00,000 or less

10. Deduction under section 80 CCC is available to

(a) Only company

(b) Only individual 

(c) Individual and H.U.F

(d) Only H.U.F

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