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Target Exam

CUET

Subject

-- Accountancy Part C

Chapter

Use of Spreadsheet in Business Applications

Question:

Which of the following is Correctly matched?

Options:

Basic Pay (BP) : It is the pay in the pay scale plus Grade Pay and Special Pay.

Grade Pay (GP) : It is the pay to be added to the Basic Pay and special pay according to the Designation of the employee and applicable pay band or scale of pay.

Dearness Pay (DP) : It is that portion of Dearness Allowance, which has been declared and deemed to have been merged with the Basic Pay.

All of the above

Correct Answer:

Dearness Pay (DP) : It is that portion of Dearness Allowance, which has been declared and deemed to have been merged with the Basic Pay.

Explanation:

The correct answer is option 3- Dearness Pay (DP) : It is that portion of Dearness Allowance, which has been declared and deemed to have been merged with the Basic Pay.

 

  • Basic Pay (BP) : It is the pay in the pay scale plus Grade Pay, but does not include Special Pay.
  • Grade Pay (GP) : It is the pay to be added to the Basic Pay according to the Designation of the employee and applicable pay band or scale of pay.
  • Dearness Pay (DP) : It is that portion of Dearness Allowance, which has been declared and deemed to have been merged with the Basic Pay.
  • Dearness Allowance (DA) : It is a compensation for erosion in the purchasing power of wage earner due to price rise. It is granted by the Government periodically as a percentage of (Basic Pay + Dearness Pay, if applicable).

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