Multiple Choice Questions on From the Statement of Profit and Loss the change in Net Profit After Tax is Particulars nb........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

From the Statement of Profit and Loss the change in Net Profit After Tax is Particulars nb...........

Costing - Phase (I & II) Overview of Cost and Management Accounting
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    From the Statement of Profit and Loss, the % change in Net Profit After Tax is :

    Particulars                                        31st March, 2019         31st March, 2018

    I. Income                        

    Revenue from Operations                         3,50,000               3,00,000

    II. Expenses                             

    Purchases of Stock-in-Trade                     2,10,000             1,80,000

    Change in Inventories of Stock-in-Trade 15,000                  20,000

    Employees Benefits Expenses                 17,500                  15,000

    Other Expenses                                          7,500                    5,000

    Total                                                              2,50,000               2,20,000

    III. Profit before Tax (I-II)                           1,00,000               80,000

    IV. Less: Tax                                               30,000                  24,000

    V. Profit after Tax (III-IV)                            70,000                  56,000

    20%

    Incorrect Answer

    25%

    Correct Answer

    30%

    Incorrect Answer

    40%

    Incorrect Answer
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    Explanation:

     Comparative Income Statement for the year ended March 31, 2018 and 2019

    Particulars           2018            2019                      Absolute               Percentage

                                  (Rs)              (Rs)                      Change              Change (%)

    I. Revenue from Operations:

    3,00,000     3,50,000              50,000                  16.67

    II. Expenses:

    a. Purchase of Stock-in-Trade-

    1,80,000     2,10,000               30,000                  16.67

    b. Changes in Inventories of Stock-in-Trade:

    20,000        15,000                  (5,000)                  (25.00)

    c. Employees Benefit cost:

    15,000        17,500                  2,500                    16.67

    d. Other Expenses

    5,000          7,500                    2,500                    50.00

    Total:               2,20,000   2,50,000                 30,000              13.67

    Profit before Income Tax (I-II):

                                  80,000        1,00,000               20,000                  25.00

    Less: Income Tax:       

    24,000        30,000                  6,000                    25.00

    Profit after Income Tax

    56,000        70,000                  14,000                  25.00

    By: Vikas Goyal
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    Deepak

    Answer is 25‰

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