PERSONAL FINANCE & INVESTMENT (MCQS) - FEBRUARY 2016

T.Y B.COM

SEMESTER - 6

PERSONAL FINANCE & INVESTMENT

(PFI) 

MCQS - FEBRUARY 2016

1. Personal finance refers to the financial decisions of ________. 

(a) an individual , family and relatives

(b) an individual/family

(c) Friends

(d) Relatives

2. Areas of personal financial planning include ________. 

(a) estate planning only

(b) Tax planning only

(c) retirement planning only

(d) All of a, b and c

3. Outstanding electricity bill is  __________. 

(a) permanent liability

(b) long-term liability

(c) short term liability

(d) fixed liability

4. Preparation of month wise personal cash budget is known as

(a) monthly cash budget

(b) quarterly cash budget

(c) yearly cash budget

(d) bi-monthly cash budget

5. Net worth =  __________

(a) Assets - liabilities 

(b) liabilities + liabilities

(c) liabilities - liabilities

(d) assets + assets

6. Life insurance premium is deductible under the section _________

 

(a) 80 EE

(b) 80 D

(c) 80 C 

(d) 80 U

7. Deduction under section 80 D is available to

(a) individual and H.U.F

(b) individual

(c) Association of persons

(d) All of a, b and c

8. Maximum amount available under section 80 TTA is ________

(a) entire amount

(b) Rs.10,000 

(c) Rs.20,000

(d) Rs.15,000

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

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

(b) Rs. 8,00,000 or less

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

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

10. MR.A, an individual, has paid in cash a medical insurance premium of Rs. 8,000 for his family and Rs. 20,000 for his parents (Both father and mother are senior citizens). The amount of deduction under Section 80 D is _________. 

(a) Nil

(b) Rs. 23,000

(c) Rs. 28,000

(d) Rs. 8,000

For More Detail Contact Us And Follow On Study For Buddies

Thank You