Commerce online quiz 149

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Payment of security if it is made at end of each period such as beginning of year is classified as
A
annuity due
B
payment fixed series
C
ordinary annuity
D
deferred annuity
Question 2
Which of the following is TRUE about the treatment of insurance premium paid in advance
A
Current asset
B
Current liability
C
Short term liability
D
Fixed asset
Question 3
Type of cost which is used to raise common equity by reinvesting internal earnings is classified as
A
cost of mortgage
B
cost of common equity
C
cost of stocks
D
cost of reserve assets
Question 4
Recreation expenses in factory are apportioned on the basis of.....
A
material cost
B
wages
C
prime cost
D
number of employees
Question 5
Competition Act was enacted in the year.....
A
June 2002
B
Dec. 2002
C
January 1999
D
None of these
Question 6
Consider the following statements: Continuous evaluation of the relevance of generally accepted accounting principles is required, because:
  1. they are the everlasting operating realities.
  2. the environment, in whic
A
1, 2 and 3
B
2, 3 and 4
C
3 and 4
D
I and 4
Question 7
If sales are Rs. 18, 000, Gross Profit Rs. 5, 000, Net Loss Rs. 1, 000, the operating expenses will be?
A
Rs. 4, 000
B
Rs. 6, 000
C
Rs. 13, 000
D
Rs. 17, 000
Question 8
Capital increases if..... increases
A
Expenses are greater than income
B
Drawings
C
Interest on capital
D
Revenue
Question 9
Members of a company may apply to which one among the following for relief under the Companies Act, 1956 in cases of oppression?
A
Central Government
B
High Court of Judicature
C
National Company Law Tribunal
D
National Company Law Appellate Tribunal
Question 10
Would notice/ order/ documents be 'deemed as served', though registered post/ speed post is not received by intended person?
A
No. Actual service is necessary. There is no concept of deemed service.
B
Yes, it is deemed to have been received by the addressee at the expiry of the period normally taken by such post, unless the contrary is proved.
C
No
D
None of the above
Question 11
Xerography is a process of.....
A
electrical photography
B
blue printing
C
fixing stamps
D
printing address
Question 12
What does management audit imply?
A
Complete audit
B
Detailed audit
C
Efficiency audit
D
Interim audit
Question 13
A bus carries 25 passengers daily for 25 days and its mileage per month is 1000 kms. Its passenger miles are.....
A
30, 000
B
12, 500
C
20, 000
D
25, 000
Question 14
Slope coefficient is 0.75 and difference in machine hours is $65000 then difference in cost would be
A
$86, 667
B
$48, 750
C
$85, 000
D
$55, 000
Question 15
.....deals with accounting for investments.
A
AS 11
B
AS 12
C
AS 13
D
AS 14
Question 16
The portion of the acquisition cost of an asset yet to be allocated is known as
A
Written down value
B
Accumulated value
C
Realizable value
D
Salvage value
Question 17
In calculating a country's GNP at market prices, which one of the following is not included?
A
Indirect taxes
B
Subsidies
C
Wages and salaries before tax
D
Retirement pension
Question 18
The Degree of Financial Leverage (DFL)
A
Measures financial risk of the firm
B
Is zero at financial break-even point
C
Increases as EBIT increases
D
Both a and b
Question 19
Assertion (A): The Companies Act; 1956 requires that internal audit must be carried out by a Chartered Accountant. Reason (R): It is to help the management to protect the interests of the shareholders and the society.
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 20
Is Section 143 applicable to all categories of goods?
A
Yes
B
No
C
Applicable to all categories of goods
D
None of the above
There are 20 questions to complete.

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