Commerce online quiz 115

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The firm under perfect competition will be in short-run equilibrium when
A
Rising marginal cost is equal to the minimum average cost
B
Marginal revenue is equal to rising marginal cost
C
Average revenue is equal to average cost
D
Marginal revenue is equal to the falling marginal cost
Question 2
If a good is a luxury, its income elasticity of demand is
A
Positive and less than 1
B
Negative but greater than 1
C
Positive and greater than 1
D
Zero
Question 3
Which of the following is not considered to be one of the three phases of e-commerce?
A
Innovation
B
Consolidation
C
Preservation
D
Reinvention
Question 4
For each component of capital, a required rate of return is considered as
A
component cost
B
evaluating cost
C
asset cost
D
asset depreciation value
Question 5
Type of provision which allows an orderly retirement of an issued bond which is classified as
A
whole call provision
B
super fund provision
C
floating fund provision
D
sinking fund provision
Question 6
Contingent liability is shown
A
on the liability side of the balance sheet
B
on the asset side of the balance sheet
C
in the profit and loss account
D
below the balance sheet as a foot note.
Question 7
Which one of the following concepts states that the publication or presentation of financial statements should not be delayed?
A
Objectivity concept
B
Timing concept
C
Timeliness concept
D
Reliability concept
Question 8
Investment in which of the following is most risky?
A
Equity shares
B
Preference shares
C
Debentures
D
Land
Question 9
Suppose, One Partner retires from a partnership firm without giving any intimation to that effect within 30 days of the retirement, what will be its effect?
A
Liability on tax arrears, if any, will continue up to the intimation to the Commissioner
B
Liability only up to the actual date of retirement
C
Liability will be shifted to the new partners and existing partners
D
None of the Above
Question 10
Income tax is rounded off to
A
Nearest ten rupees
B
Nearest one rupee
C
No rounding off of tax is done
D
None of the above
Question 11
In automobile, costing is used
A
Process
B
batch
C
job
D
multiple
Question 12
The..... co-operative societies are established for the benefit of small producers.
A
Consumers
B
Producers
C
Marketing
D
Housing
Question 13
A retirement plans funded for workers by corporations, administered and commercial banks are classified as
A
retirement funds
B
pension funds
C
future funds
D
workers funds
Question 14
Chance of happening any unfavourable event in near future is classified as
A
chance
B
event happening
C
probability
D
risk
Question 15
Protective covenant devised in market to reduce event risk and to control debt cost is classified as
A
super poison covenant
B
super poison put
C
super poison call
D
super poison redemption
Question 16
A public company can start its business operations after getting-
A
Certificate of Incorporation
B
Minimum Subscription
C
Certificate of Commencement of Business
D
Permission of the Controller of Capital Issue
Question 17
Which one of the following is the oldest form of organization?
A
Functional organization
B
Staff organization
C
Line and Staff organization
D
Departmentation
Question 18
ITC is allowed on tax paid on capital goods in..... instalments in GST
A
12
B
36
C
3
D
1
Question 19
The most common method used for marketing of new securities is.....
A
sale of existing shareholders
B
stock exchange placing
C
direct sale to public through prospectus
D
sale to biometers
Question 20
Assertion (A): It is the duty of the auditor to see that costing records as required under Section Act, 209(1)(d) of the Companies Act, 1956, have been maintained by certain class of companies. Reason (R): Mere maintenance of cost records does not make
A
Both A and R are true and R is the correct explanation of A
B
Both A and R are true but R is NOT a correct explanation of A
C
A is true but R is false
D
A is false but R is true
There are 20 questions to complete.

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