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AAFM GLO_CWM_LVL_1 Exam - Topic 6 Question 19 Discussion

Pushkar completed the construction of a house property on 14.8.2008 with borrowed capital of Rs.800000 @ 12%. The loan was taken on 1.4.2006 and is still outstanding. The house was used for his own residence during the entire FY 10-11. Deduction U/S 24(B) for interest on borrowed capital for FY shall be
D) 134400
A) 150000
B) 30000
C) 96000

AAFM GLO_CWM_LVL_1 Exam - Topic 6 Question 19 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 19
Topic #: 6
[All GLO_CWM_LVL_1 Questions]

Pushkar completed the construction of a house property on 14.8.2008 with borrowed capital of Rs.800000 @ 12%. The loan was taken on 1.4.2006 and is still outstanding. The house was used for his own residence during the entire FY 10-11. Deduction U/S 24(B) for interest on borrowed capital for FY shall be

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Suggested Answer: D

by Devorah at May 09, 2022, 04:01 AM

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Alyce
10 months ago
Interesting, I didn't know the limit was that low!
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Viva
11 months ago
I thought it was higher, like 150000.
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Giovanna
11 months ago
Wait, how did you get to 96000? Seems off to me.
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Hassie
11 months ago
Totally agree, that's the correct deduction!
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Shalon
11 months ago
The loan interest is Rs.96000 for FY 10-11.
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Mattie
11 months ago
I think this is asking about a type of contract where the final price is determined based on the seller's performance, so I'm leaning towards C. Fixed-Price-Incentive-Fee (FPIF).
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Roosevelt
11 months ago
I remember that we had a similar question where we calculated the opportunity cost based on credit sales. I think I need to pay attention to the variable cost percentages this time.
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Carylon
11 months ago
Scanning for vulnerabilities seems like the logical first step to me. We need to identify any weaknesses before we can try to exploit them.
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Michell
11 months ago
Okay, I think I've got this. The key is to use separate configuration models for the different bicycle types. That way, we can easily manage the unique characteristics of each model while still maintaining control over the overall product configuration. Option A looks like the way to go.
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Kristine
12 months ago
Hmm, I'm a bit confused by all the different cost components. I'll need to make sure I understand the fixed and variable costs for each product before I can decide the best approach.
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