n NISM Certifications
XV NISM Series XV
Medium

From the given data, calculate the Net Sales. Sales Revenues: Rs. 10 Lakhs. Direct Taxes: Rs. 1 Lakh. Indirect Taxes: Rs. 2 Lakhs.

Practice question from NISM XV Mock Test 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Rs. 10 Lakhs

  2. B

    Rs. 9 Lakhs

  3. Rs. 8 Lakhs

    Correct answer

  4. D

    Rs. 7 Lakhs

Why this is the answer

Net Sales exclude indirect taxes, so 10 – 2 = Rs. 8 lakhs.

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