Filing income tax returns is not required if no income is earned, as there is no tax liability.

Gifts from relatives are not considered as taxable income under the Income Tax Act.

Input tax credit is not eligible for the purchase of exempt goods.

A Cash Flow Statement is not typically included in the final accounts of a sole trader.

The Profit and Loss Appropriation Account is prepared after the trial balance and is not included in it.

The Cash Flow Statement is not included in the trial balance as it is a financial statement, not a ledger account.

The 4 Ps of marketing are Product, Price, Promotion, and Place. 'People' is not one of them.

Selling and administrative expenses are not included in the cost sheet, which focuses on production costs.

Journal entries are not included in final accounts; they are used to record transactions before preparing final accounts.

A Cash Flow Statement is not typically included in the final accounts of a sole trader.

Net Realizable Value is not a method of inventory valuation; it is a measure used to assess the value of inventory.

The Straight-Line Method allocates an equal amount of depreciation expense each year over the useful life of the asset.

The Declining Balance Method typically results in the lowest book value of an asset in the early years due to higher depreciation expenses.

The Declining Balance Method typically results in a lower book value at the end of the asset's useful life compared to the Straight-Line Method.

The Declining Balance Method would likely result in the lowest net income in the early years due to higher depreciation expenses.

The Current Ratio is used to assess a company's ability to meet its short-term obligations.

Return on Equity (ROE) is a key profitability ratio that measures the amount of net income returned as a percentage of shareholders' equity.

The Debt to Equity Ratio is used to evaluate a company's solvency by comparing its total liabilities to its shareholder equity.

Marginal costing is often used to decide whether to accept special orders at lower prices, as it focuses on variable costs.

Export of goods is exempt from GST as it is zero-rated, meaning no tax is levied on exports.

Accounts Payable is classified as a current liability as it is due within one year.

Strategic planning focuses on setting specific, measurable objectives to guide the organization towards its long-term goals.

Skimming pricing involves setting a high price initially and then gradually lowering it to attract more price-sensitive customers.

Penetration pricing involves setting a low initial price to attract customers and gain market share quickly.

Penetration pricing involves setting a low price to attract customers and gain market share quickly.

Competitive pricing involves setting prices based on the prices of competitors' products.

Team spirit emphasizes collaboration and cooperation among team members to achieve common goals.

The Division of Work principle involves dividing tasks among employees to improve efficiency and productivity.

Unity of direction ensures that all organizational activities are aligned towards achieving common objectives.

The principle of Remuneration suggests that employees should be fairly compensated for their contributions to the organization.