Commerce online quiz 170

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
On what value TDS needs to be deducted?
A
Contract value
B
Contract value excluding tax
C
Invoice value including tax
D
Invoice value excluding tax
Question 2
Abnormal loss and its value are.....
A
debited to process a/c
B
credited to process a/c
C
debited to costing profit and loss a/c
D
debited to profit and loss a/c
Question 3
Notes, mortgages, bonds, stocks, treasury bills and consumer loans are classified as
A
financial instruments
B
capital assets
C
primary assets
D
competitive instruments
Question 4
A company has capital of Rs. 10, 00, 000. Its turnover is 3 times. Margin on sale is 6%. The Return on Investment will be-
A
20%
B
15%
C
18%
D
23%
Question 5
Labour productivity can NOT be measured by comparing.....
A
actual time with standard time
B
total output with total man hours
C
added value for the product with total wage cost
D
total wage and total output
Question 6
Which one of the following is called backbone of auditing?
A
Routine checking
B
Vouching
C
Internal check
D
Internal control
Question 7
A firm had a capital balance of Rs. 1, 00, 000 at the beginning of a year. At has total assets of Rs. 1, 50, 000 and total liabilities of Rs. 70, 000. If the total withdrawals during the period were Rs. 30, 000, what was the amount of Net Profit/Net Loss for t
A
Rs. 10, 000 profit
B
Rs. 20, 000 loss
C
Rs. 50, 000 loss
D
Rs. 10, 000 loss
Question 8
Electronic Cash Ledger is credited by
A
Cash Deposit towards Tax remittance, Fine, Interest and Penalty
B
IPT on IGST, CGST and SGST
C
Cash Deposit towards Fees, Fine, Interest and Penalty Only
D
Advance tax Remittance Only
Question 9
Tendency of people to blame failure on bad luck but given tribute of success to themselves is classified as
A
self-attribution bias
B
self-success bias
C
self-failure bias
D
self-condition bias
Question 10
The goods taken by the proprietor from the shop is debited to-
A
Shop account
B
Goods account
C
Capital account
D
Drawings accounts
Question 11
Added in opening balance of capital is
A
net profit
B
drawings
C
net loss
D
operating expenses
Question 12
Who plays their significant role in distribution of goods when they do not sell to ultimate users or consumers?
A
Retailer
B
Wholesaler
C
Mediator
D
Commission agent
Question 13
Sundry Debtors-Rs.15, 000 Bills Receivable (B/R)-Rs.12, 500 Cash at Bank-Rs.17, 500 Stock-Rs.15, 000 Profit-Rs.20, 000 Creditors-Rs.25, 000 Bills Payable (B/P)-Rs.15, 000 Sales-Rs.1, 00, 000 What is the Acid Test Ratio?
A
1.5: 1
B
1.125: 1
C
16.67%
D
50%
Question 14
..... has prescribed certain standards for library binding.
A
ILA
B
ALA
C
BLA
D
NBT
Question 15
Fish culture should be classified as.....
A
extractive industry
B
genetic industry
C
manufacturing industry
D
construction industry
Question 16
Selection includes
A
Formulating interviewing techniques
B
Checking of references
C
Framing and developing application blanks
D
All of the above
Question 17
Demand for intermediate consumption arises in
A
Household sector only
B
Government sector only
C
Corporate sector only
D
All producing sectors of the economy
Question 18
Which is the Principles of Human Relations?
A
Principle of Work Recognition
B
Principle of Participation
C
Principle of Motivation
D
All of the above
Question 19
Which of the following is example of external economies of scale?
A
Discount on purchases of raw materials
B
Technical progress leads to development of machine at low price
C
Hiring of specialized staff due to increase in scale of production
D
A firm starts producing by-products
Question 20
An internal rate of return in capital budgeting can be modified to make it representative of
A
relative outflow
B
relative inflow
C
relative cost
D
relative profitability
There are 20 questions to complete.

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