Commerce online quiz 151

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Economic Batch Quantity is an important point to be determined in industries where..... costing is employed.
A
Job
B
batch
C
operation
D
output
Question 2
What is the time of supply of service for the supply of taxable services up to Rs.1000 in excess of the amount indicated in the taxable invoice?
A
At the option of the supplier-Invoice date or Date of receipt of consideration
B
Date of issue of invoice
C
Date of receipt of consideration.
D
Date of entry in books of account
Question 3
A SEZ is
A
a regional area within which trade with foreign nations is allowed
B
a free trade agreement among several nations
C
designed to limit exports of manufactured goods by placing export taxes on goods made within the zone
D
designed to promote exports by deferring import duties on intermediate inputs and waving such duties if the final product is re-exported rather than sold domestically
Question 4
Education cess is leviable in case of
A
An individual and HUF
B
A company assessee only
C
All assesses
D
None of the above
Question 5
An average return of portfolio divided by its standard deviation is classified as
A
Jensen's alpha
B
Treynor's variance to volatility ratio
C
Sharpe's reward to variability ratio
D
Treynor's reward to volatility ratio
Question 6
Marginal cost curve cuts the average cost curve
A
At the left of its lowest point
B
At the lowest point
C
At the right of its lowest point
D
At its highest point
Question 7
Which one is a client level threat?
A
Malicious code
B
Viruses
C
Active contents
D
All the above
Question 8
Which of the following statements are correct? (i) Persons who are required to deduct tax u/s 51 shall obtain registration irrespective of the threshold specified. (ii) Persons who are required to collect tax u/s 52 shall obtain registration irrespective
A
i, ii & iii
B
i, ii & iv
C
ii, iii & iv
D
i, ii, iii & iv
Question 9
If an investor states that Intel is overvalued at 65 times, he is referring to.....
A
earnings per share
B
dividend yield
C
book value
D
P/E ratio
Question 10
For claiming Deduction u/s 80C, the payment or deposit should be made
A
Out of any income
B
Out of any income chargeable to income tax
C
During the current year out of any source
D
None of the above
Question 11
For the purpose of preparation of fund flow statement, fund means-
A
Total resources
B
Cash/bank balances
C
Current Assets
D
Working capital
Question 12
If it is expedient in the interest of the revenue, can the proper officer after recording reasons in writing, require a taxable person to make payment of tax demand within shorter period as may be specified by him?
A
Yes
B
No
C
With prior permission of not below the rank of Joint Commissioner
D
None of the above
Question 13
A valid definition of a business purpose is to.....
A
Create a customer
B
Maximize profits
C
Serve the society
D
Increase the wealth of the firm
Question 14
Final accounts prepared in narrative style are in-
A
Horizontal form
B
Accounts form
C
Vertical form
D
None of the above
Question 15
Working capital means.....
A
Current asset plus current liability
B
Current asset minus current liability
C
Fixed asset plus current asset
D
Fixed asset minus current asset
Question 16
Now the minors of which age above can open Savings bank accounts?
A
10
B
15
C
9
D
7
Question 17
Who is liable to pay the tax in case of transfer of business?
A
Transferor
B
Transferee
C
Both jointly and severally
D
Jointly
Question 18
Volume Variance =
A
Standard rate (Actual output-budgeted output)
B
Actual output x standard rate-budgeted fixed overheads
C
Standard rate per hour(standard hours produced-actual hours)
D
All of the above
Question 19
Factors that accelerate process of refining a costing system include
A
increase in product diversity
B
increase in indirect costs
C
product market competitions
D
all of above
Question 20
Patents, Copyrights and Trademarks are
A
Current assets
B
Fixed assets
C
Intangible assets
D
Investments
There are 20 questions to complete.

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