AAFM CTEP Exam - Topic 6 Question 30 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 30
Topic #: 6

[All CTEP Questions]

The employer had purchased a car for Rs. 3,00,000 which was being used for official purposes. After 2 year 6 months of its use, the car is sold to R, the employee, for Rs. 1,20,000. The value of this perquisite shall be __________.

ARs. 72,000

BRs. 60,000

CNil

DRs. 1,23,000

Show Suggested Answer

Suggested Answer: A

by Deonna at Nov 23, 2023, 05:48 PM

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Hoa

3 months ago

Not sure about that calculation...

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Keneth

4 months ago

Totally agree with Rs. 72,000!

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Yaeko

4 months ago

Wait, how is it Rs. 72,000?

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Scot

4 months ago

Definitely Rs. 72,000 as perquisite!

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Elin

4 months ago

The car was bought for Rs. 3,00,000.

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Susy

5 months ago

I think if the sale price is lower than the original cost, we might need to calculate the difference, but I'm a bit confused about the exact method.

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Bernardo

5 months ago

I feel like the answer might be Rs. 72,000, but I can't recall how we arrived at that figure in class.

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Jamika

5 months ago

This seems similar to a practice question we did on perquisites. I think we need to consider the depreciation over the 2.5 years.

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Lino

5 months ago

I remember something about calculating the perquisite value based on the original cost and the sale price, but I'm not sure how to apply it here.

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Vernell

5 months ago

Wait, I'm not sure if that's the right approach. Shouldn't we be considering the fair market value of the car at the time of sale, rather than just the difference between the original cost and the sale price?

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Elliot

5 months ago

Okay, I think I've got this. The original cost of the car was Rs. 3,00,000, and it was sold to the employee for Rs. 1,20,000. The value of the perquisite should be the difference between these two amounts, which is Rs. 72,000.

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Tyra

5 months ago

Hmm, I'm a bit confused about how to calculate the value of the perquisite here. Do I need to consider the depreciation of the car over the 2 year 6 month period?

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Brittni

5 months ago

This looks like a straightforward perquisite calculation question. I'll need to find the difference between the original cost and the sale price, and then determine the value of the perquisite.

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Lavina

5 months ago

Okay, let me see here. The question is asking which Kubernetes component is responsible for determining the Node assignment for a new Pod. Based on my understanding, the Scheduler is the component that handles this task, so I'm going to go with option B.

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Magda

5 months ago

This is a tricky one. I'm not super familiar with the technical details of mantrap design. I'll have to guess and hope for the best on this question. Maybe option A about the emergency button?

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Timothy

5 months ago

I feel like it could be about stroke volume, but I'm not completely confident in how that would lower blood pressure with exercise.

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Ilene

5 months ago

I'm not sure about the ip nhrp ospf dr configuration on the tunnel interface. That seems a bit specific, so I'll have to think through the DMVPN and OSPF interaction more carefully.

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Erick

10 months ago

Wait, did the car come with a chauffeur? If so, I'm going with D) Rs. 1,23,000 - gotta account for that premium service!

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Hermila

9 months ago

C) Nil

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Casie

10 months ago

B) Rs. 60,000

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Brandon

10 months ago

A) Rs. 72,000

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Jody

10 months ago

A) Rs. 72,000 seems like the correct answer to me. The value of the perquisite should be the difference between the original cost and the selling price to the employee.

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Laila

10 months ago

C) I believe the value of the perquisite is Nil.

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Tyra

10 months ago

B) I think it should be Rs. 60,000.

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Luz

10 months ago

A) Rs. 72,000 seems like the correct answer to me.

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Letha

11 months ago

Hmm, this is a tricky one. I'm going to go with C) Nil. If the car was being used for official purposes, then there might not be any perquisite value.

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Leonard

9 months ago

D) Rs. 1,23,000

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Pansy

10 months ago

C) Nil

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Richelle

10 months ago

B) Rs. 60,000

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Mollie

10 months ago

A) Rs. 72,000

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Daniel

11 months ago

That makes sense. So, the correct answer is B) Rs. 60,000.

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Jacob

11 months ago

I'm going with D) Rs. 1,23,000. The value of the perquisite should be the difference between the original cost of the car and the amount paid by the employee.

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Janessa

10 months ago

I agree with you, the correct answer is C) Nil.

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Tegan

10 months ago

I think the answer is C) Nil. There is no taxable perquisite in this case.

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Flo

10 months ago

I agree with you, the correct answer is C) Nil.

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Art

10 months ago

I think the answer is C) Nil. There is no taxable perquisite in this case.

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Marion

11 months ago

I believe it should be Rs. 60,000 because the difference between the purchase price and selling price is Rs. 1,80,000.

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Daniel

11 months ago

What do you think the value of the perquisite should be?

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Felix

11 months ago

I think the correct answer is B) Rs. 60,000. The value of the perquisite is the difference between the fair market value of the car and the amount paid by the employee.

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