Commerce online quiz 172

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Risk of fall in income due to fall in interest rates in future is classified as
A
income risk
B
investment risk
C
reinvestment risk
D
mature risk
Question 2
When should the opportunity of being heard be given to applicant or the appellant for rectification of advance ruling?
A
If the rectification has the effect of enhancing the tax liability. Advance Ruling 213 Indirect Taxes Committee
B
If the rectification has the effect of reducing the amount of admissible input tax credit.
C
(a) or (b)
D
None of the above
Question 3
The value of SDR tends to be more stable than that of any single currency in the "Standard basket valuation" because
A
It is internationally accepted measure
B
It is a weighted average of the exchange rates of the five major currencies.
C
Both (A) and (B)
D
It is an imaginary currency.
Question 4
..costing is a type or technique of costing.
A
multiple
B
batch
C
Marginal
D
job
Question 5
Costs of all activities for a group of products, rather than individual product can be classified as
A
activity level costs
B
input level costs
C
batch level costs
D
output level costs
Question 6
The drawer of a cheque is always a
A
bank
B
company
C
Firm
D
customer
Question 7
..... states that assets equal liabilities plus capital.
A
accounting equation
B
financial equation
C
statements
D
none of these
Question 8
.....is maintained to know how the worker's time shown by the time card is spent on various jobs.
A
Daily time sheets
B
weekly time sheets
C
job cards
D
none of the above
Question 9
Toy manufacturing industry should use.....
A
unit costing
B
process costing
C
batch costing
D
multiple costing
Question 10
Accounts are required to be maintained in
A
Manual form
B
Electronic form
C
Manual and electronic form
D
Manual or electronic form
Question 11
SEZ policy in India is motivated by the experience of
A
Japan
B
China
C
USA
D
Germany
Question 12
Land only
A
Is a free gift of nature
B
Lacks geographical mobility
C
Is not hirable
D
a' and 'b' both
Question 13
Which section provides tax-free movement for sending inputs and/or capital for job worker?
A
20
B
55
C
175
D
143
Question 14
The bank account of a non-resident of a country, where the amount of currency in the account cannot be transferred to another country is called as
A
Nostro account
B
Blocked Account
C
Foreign account
D
Capital account
Question 15
Should the principal referred to in Section 143 be registered?
A
Yes
B
No
C
Principal should not be registered
D
None of the above
Question 16
More MCQs on Foreign Exchange Management 1.The forward US dollar is quoted at premium against Indian Rupees. This implies
A
Money market rates are higher in India than in the US.
B
Money market rates are lower in India than in the US.
C
Market yield is higher in US than in India.
D
Dollar has a better value than Indian Rupee.
Question 17
In pure play method, a company can calculate its own cost of capital with help of averaging an
A
other company capital policy
B
other company beta
C
other company cost
D
other division cost
Question 18
If sales are Rs. 60, 000 gross profit is 1/3 of cost, purchases are Rs. 49, 000 and closing stock is Rs. 9, 000, then opening stock will be
A
Rs. 5, 000
B
Rs. 20, 000
C
Rs. 15, 000
D
Nil.
Question 19
Globalisation means
A
Setting of firms branches in other countries
B
Adopting a global outlook
C
Earning profit from Exports
D
Attracting foreign investment
Question 20
A cost unit is.....
A
the cost per machine hour
B
the cost per labour hour
C
a unit of production or service in relation to which costs are ascertained
D
a measure of work output in a standard hour
There are 20 questions to complete.

Leave a Reply

Your email address will not be published. Required fields are marked *