Multiple Choice Questions on From the following Statement of Profit and Loss of XYZ Ltd for the year ended 31st March 2015 and 20........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

From the following Statement of Profit and Loss of XYZ Ltd for the year ended 31st March 2015 and 20...........

Costing - Phase (I & II) Methods of Costing
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    From the following Statement of Profit and Loss of XYZ Ltd., for the year ended 31st March, 2015 and 2016, the % of Net Profit Before Tax and Net Profit after Tax on the basis of Common-size statement will be :

     Particulars                                         2018-19                          2017-18

    Revenue from Operations               ? 25,00,000                    ? 20,00,000

    Employee Benefit Expenses          ? 10,00,000                    ? 7,00,000

    Other Expenses                               ? 2,00,000                      ? 3,00,000

    Tax Rate                                                      40%                      40%

    50%; 31%

    Incorrect Answer

    51%; 32%

    Incorrect Answer

    52%; 31.20%

    Correct Answer

    Cannot be calculated

    Incorrect Answer
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    Explanation:

    Common Size Statement of Profit and Loss for the year ended March 31, 2019 and 2018

    Particulars           Absolute Amount                              Percentage of Revenue

    from Operations

    2017-18      2018-19                2017-18      2018-19

    (Rs)           (Rs)                       (%)              (%)

    I. Revenue from Operations 

    20,00,000             25,00,000             100              100

    II. Other Income                                

    Total Revenue (I + II)   

    20,00,000             25,00,000             100              100

    Less: Expenses: 

     Employees Benefit cost       

    7,00,000               10,00,000             35                40

    Other Expenses 

    3,00,000               2,00,000               15                8

    Profit before Tax

    10,00,000             13,00,000             50                52

    Less: Tax @ 40%        

    4,00,000               5,20,000               20                20.80

    Profit after Tax    

    6,00,000               7,80,000               30                31.20

                                           

    By: Vikas Goyal
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