Commerce online quiz 140

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The normal permissible Time Period to upload the statement of outward supply (i.e., GSTR-1) will be:
A
From 01st to 10th of the Next Month
B
From 11th to 15th of the Next Month
C
From 11th to 15th of the Next Month
D
From 11th to 20th of the Next Month
Question 2
Real rate expected cash flows and nominal rate expected cash flows must be
A
accelerated
B
equal
C
different
D
inflated
Question 3
A..... is an acknowledgement of a debt.
A
share
B
debenture
C
equity share
D
preference share
Question 4
Can Composition scheme be availed if the registered person effects interstate supplies?
A
Yes
B
No
C
Yes, subject to prior approval of the Central Government Levy and Collection of Tax
D
Yes, subject to prior approval of the concerned State Government
Question 5
In case of multiple correlation, the number of variables involved are greater than
A
3
B
4
C
2
D
1
Question 6
Credit and collection cost is an item of
A
Selling overhead
B
office overhead
C
prime cost
D
administrative overhead
Question 7
Is there any ban on disclosure and use of information collected in the form of information return? (i) No. Such information can be used for all GST purposes except publishing such information (ii) Yes. Such information cannot be used by the department un
A
i, ii & iii
B
ii &iv
C
iii & v
D
ii, iv & v
Question 8
Assertion (A): Performance ratios show we are going. Reason (R): Balance sheet ratios show how we stand.
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
Question 9
Conversion cost is subtracted from manufacturing overhead cost is to calculate the
A
manufacturing labour costs
B
direct labour costs
C
direct manufacturing labour costs
D
indirect manufacturing labour costs
Question 10
The time limit for payment of tax demand is.....from the date of service of the order,
A
3 months
B
90 days
C
6 months
D
1 year
Question 11
Leather being used as one of the binding materials i.e., ..... is the strongest leather.
A
Roan
B
Imitation
C
Pig skin
D
Sheep skin
Question 12
Any output that has total positive sales is a
A
joint product
B
main product
C
product
D
all of above
Question 13
is a budget which is updated continuously by adding a further period (a month/quarter) and deducting a corresponding earlier period.
A
Rolling budget
B
continuous budget
C
annual budget
D
both a & b
Question 14
Which committee recommended the enactment of Competition Act?
A
High Level committee on competition policy and Law
B
A committee on Law and Order
C
A Central committee for Research and Policy
D
None of these
Question 15
The number of nostro accounts that can be maintained by a bank in a particular currency is
A
One
B
not exceeding three
C
minimum two
D
no such limit
Question 16
Who can apply for settlement of GST cases before the settlement commission?
A
Any taxable person whose appeal is pending before the National Appellate Tribunal or its state bench
B
Any taxable person in receipt of one or more SCNs and the final order is pending before either the adjudicating authority or First Appellate Authority
C
Any taxable person whose appeal is pending before any HC or Supreme Court of India
D
Any of the above
Question 17
If a commodity X is subject to an import duty of 25% ad valorem, the nominal tariff is
A
50%
B
25%
C
12.50%
D
2.50%
Question 18
Auction sites like eBay tend to use..... pricing.
A
dynamic
B
fixed
C
trigger
D
utilization
Question 19
Rate of return which is required to satisfy stockholders and debt holders is classified as
A
weighted average cost of interest
B
weighted average cost of capital
C
weighted average salvage value
D
mean cost of capital
Question 20
If net present value is positive then profitability index will be
A
greater than two
B
equal to
C
less than one
D
greater than one
There are 20 questions to complete.

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