What are the activities present in payroll task?

Correct Answer: Means whatever income any employee received from the organisation and on that tax to be deducted (eg Gross salary, Overtime, Bonus, Incentives etc)

Correct Answer: Paycheck - this is the method by which the Employee is paid (A Bank Check/Cheque or Direct Deposit to Bank) Payslip - Also called as Pay Stub is the paper which will typically detail the gross income and all taxes and any other deductions such as retirement plan contributions, insurances, garnishments, or charitable contributions taken out of the gross amount to arrive at the final net amount of the pay, also including the year to date totals in some circumstances

Correct Answer: It is Rs 10,00,000 now

Correct Answer: Wage Revisions as per wage policy every finanical year means April of the every year will revised At the same time Basic is revised as per appointment order like we are given probation period to every employee after completion of the employee probation than basic also revised and depends upon Organisation Structure also

Correct Answer: Professional Tax ESI PF Recoveries Advances if any

Correct Answer: Stocks

Explanation:

Stock investment may pay the dividends.

The amount of dividend will be depended on how many stocks you own and how much is that's company net income in that year

For example :

If you own 15 % of the company, and the company announced that they will pay Rs. 1,00,000 as dividend this year, you will get dividend payment of Rs. 15,000.

Correct Answer: There are three types of assets 1 Fixed assets : Those assets which will be used by the company for a long period of time a) Tangible assets: those assets which we can see and touch and exp Land & Buildings, Plant & Machinery,Furniture, fixtures and fittings b) Intangible assets: Those assets which we can't see and touch like Goodwill, Patents, Copyrights, Trade Mark etc 2 Current assets : Those assets which can be easily converted into cash within one year like cash in hand, cash at bank, Bills receivable, stock etc 3 Fictitious assets: its not the actual assets , its the expenditure occurred at the tine of commencement of firm ( capital expenditure )like preliminary expenses, discount on issue on debenture/shares, underwriting commission etc

Correct Answer: Open item management ensures that all items that have not yet been cleared are available in the system Only after every open item in a document is cleared can a document be archived

Correct Answer: A loss (or losses) from previous years carried forward in order to offset future earnings This reduces the tax burden for the years with profit as the accumulated losses are deducted from the taxable profit

Correct Answer: Because these exps are paid/payable to persons person includes Sole Proprietor, Partnership Firms, HUF, Co; etcPersonal accounts always appear in B/S until it is transfered to expenditure by debiting to P&L A/C