Commerce online quiz 136

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
When money is withdrawn from the bank, the bank will..... the account of customer
A
Credit
B
Debit and Credit
C
Debit
D
None of the above
Question 2
Cost Accounting has been developed becauseof of Financial Accounting.
A
Limitations
B
advantages
C
both a & b
D
none of these
Question 3
Select the incorrect statement from the given list:
A
Banking year of India runs from January to December.
B
Financial year of the IMF runs from July to June.
C
Agricultural year of India runs from June to May.
D
Financial year of the USA and Pakistan one most similar to that of the IMF.
Question 4
Which of the following is not classified as a commercial Bank?
A
Regional Rural Bank
B
Private Sector Bank
C
Foreign Bank
D
Co-operative Bank
Question 5
Operating costing is also known as..costing.
A
Service
B
batch
C
multiple
D
job
Question 6
Input tax credit as per the VAT law will be carried forward as:
A
CGST
B
SGST
C
IGST
D
CGST or SGST at the option of the supplier
Question 7
The term ''used in the course or furtherance of business'' means?
A
It should be directly co related to output supply
B
It is planned to use in the course of business
C
It is used in the course of business
D
It is used in the course of business for making outward supply
Question 8
Which of the following is/are the problem(s) encountered in financial statement analysis?
A
Development of benchmarks
B
Window dressing
C
Interpretation of results
D
All of the above
Question 9
In connection with marine insurance the 'Doctrine of Utmost Good Faith' is based on the concept of-
A
Disclosure
B
Concealment
C
Misrepresentation
D
None of the above
Question 10
ITC in GST is computed by generating.....
A
GSTR I
B
GSTR II
C
GSTR III
D
GSTR IV
Question 11
Profitability Inde, x when applied to divisible projects, impliedly assumes that
A
Project cannot be taken in parts.
B
NPV is linearly proportionate to part of the project taken up.
C
NPV is addictive in nature.
D
Both (B) and (C).
Question 12
The maximum rate of tax prescribed for manufactures in Composition levy is;(GST +SGST)
A
1%
B
5%
C
0.50%
D
2.50%
Question 13
When the actual loss is more than the estimated loss, the difference between the two is considered to be.....
A
Abnormal loss
B
normal loss
C
loss
D
none of these
Question 14
What will be the Time Limit for making payment of the TDS Amount by the Deductor?
A
Within 20 days after the end of the month
B
Within 15 days after the end of the month
C
Within 10 days after the end of the month
D
Next Working Day after the TDS Collection
Question 15
which one is not an E-payment method used in India?
A
Debit card
B
Credit card
C
e-cheque
D
none
Question 16
What will be the penalty for opting the composition of the tax liability without eligible for the same?
A
Rs.25/-Thousand
B
Rs.10/-Thousand
C
Rs.50/-Thousand
D
Equal Amount of tax
Question 17
Identify the formula that is used to calculate the capital turnover ratio
A
Credit sales/ Capital employed
B
Credit sales/net worth
C
Net sales/ Average accounts payable
D
Net sales/Capital employed
Question 18
Who should discharge the liability of GST on the scrap generated during job-work?
A
Job-worker, if registered
B
Principal, if job-worker is not registered
C
Always principal
D
Option (a) or (b)
Question 19
The budget which commonly takes the form of budgeted profit and loss account and balance sheet is
A
cash budget
B
master budget
C
flexible budget
D
fixed budget
Question 20
Which one of the following is controllable variable of marketing management?
A
Packaging
B
Legal Environment
C
Advertisement
D
Political Environment
There are 20 questions to complete.

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