Commerce online quiz 120

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
For an increase in the tax/ taxable value, a debit note for GST purposes:
A
Should be issued by the supplier;
B
Should be issued by the recipient;
C
May be issued by the supplier;
D
May be issued by the recipient.
Question 2
To avail credit of tax on inputs held in stock by a dealer who was exempted from payment of tax as per earlier law, the said inputs should be used or intended to be used for making,
A
Taxable supplies under GST
B
Exempt supplies
C
Either taxable or exempt supplies
D
Both taxable and exempt supplies
Question 3
In the debt equity ratio, external equity refers to
A
Only Debentures
B
Only current liabilities
C
Debentures and current liability
D
Reserves
Question 4
The name of the State of recipient along with State code is required on the invoice where:
A
Supplies are made to unregistered persons;
B
Supplies are made to unregistered persons where the value of supply is Rs.50, 000 or more;
C
Inter-state supplies are made to unregistered persons where the value of supply is Rs.50, 000 or more;
D
Supplies are made to registered persons.
Question 5
Paid up value is payable on a life insurance policy:
A
on. the maturity of the policy
B
when the policy lapses
C
when the policy is surrendered
D
on maturity or expiry whichever is earlier
Question 6
Sum of market risk and diversifiable risk are classified as total risk which is equivalent to
A
Sharpe's alpha
B
standard alphas
C
alpha's variance
D
variance
Question 7
Errors are..... mistakes
A
Intentional
B
Undetected
C
Unintentional
D
None of the above
Question 8
Second step in calculating value of stock with non-constant growth rate is to find out an
A
expected intrinsic stock
B
extrinsic stock
C
expected price of stock
D
intrinsic stock
Question 9
Legal document in which rights of issuing corporation and bondholder's state is classified as
A
legal rights classification
B
indenture
C
ownership statement
D
guarantee statement
Question 10
A budget which is prepared in a manner so as to give the budgeted cost for any level of activity is known as:
A
Master budget
B
Zero base budget
C
(Functional budget
D
Flexible budget
Question 11
How will the refunds occurring due to any proceedings under the earlier law relating to CENVAT Credit is treated under GST?
A
Such refund will be made in cash
B
Such refund will be allowed as input tax credit
C
Either a or b at the option of the taxable person
D
Either a or b at the option of the Department
Question 12
Every business transaction affects at least..... accounts
A
One
B
Two
C
Three
D
Infinite
Question 13
Bonds that have high liquidity premium are usually have
A
inflated trading
B
default free trading
C
less frequently traded
D
frequently traded
Question 14
Which of the following statement is not correct in relation to cash discount?
A
Cash discount is an allowance made by the person who receives cash to the payer for prompt payment
B
Cash discount is an allowance in addition to the trade discount
C
Cash discount is recorded in account books
D
Cash discount is always allowed at a rate higher than the rate of trade discount
Question 15
Coupon payment of bond which is fixed at time of issuance
A
remains same
B
becomes stable
C
becomes change
D
becomes low
Question 16
The Tax Liability of the Central Government, State Government and Local Authorities will be in respect of the activities or transactions in the status of a:
A
Welfare Authority
B
Public Authorities
C
General Administration
D
All of the above
Question 17
Which is the Part of Planning and Development?
A
Training
B
Human resource Development
C
Organisational Planning
D
All of the above
Question 18
A regulatory body which licenses brokers and oversees traders is classified as
A
international firm of auction system
B
international association of network dealers
C
national firm of equity dealers
D
national association of securities dealers
Question 19
A formula such as net income available to common stockholders divided by common equity is used to calculate
A
return on earning power
B
return on investment
C
return on common equity
D
return on interest
Question 20
Focus on budget cost of all activities necessary to sell and produce market offerings is known as
A
cost based budgeting
B
activity based budgeting
C
production based budgeting
D
raw material budgeting
There are 20 questions to complete.

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