Commerce online quiz 190

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
While making an adjusting entry in respect of interest on capital, we credit-
A
capital account
B
profit & loss account
C
interest on capital account
D
drawing account
Question 2
The forward exchange rate.....
A
is the rate today for exchanging one currency for another for immediate delivery
B
is the rate today for exchanging one currency for another at a specific future date
C
is the rate today for exchanging one currency for another at a specific location on a specific future date
D
is the rate today for exchanging one currency for another at a specific location for immediate delivery
Question 3
Products, divisions and customers are examples of
A
revenue increment
B
reciprocal revenue
C
revenue allocation
D
revenue object
Question 4
In 'Life Insurance Contract' the insurable interest is examined at the time of-
A
Entering the contract
B
Filing the claim
C
Both (A) and (B)
D
Never
Question 5
What is the full form of 'FINO', a term we see frequently in financial newspapers?
A
Financial Investment Network and Operations
B
Farmer's Investment in National Organization
C
Farmers Inclusion News and Operations
D
Financial Inclusion Network and Operations
Question 6
Which of the following generally traded on stock exchanges?
A
Unit investment trusts
B
Closed-end investment companies
C
Open-end investment companies
D
All trade on stock exchanges
Question 7
Call options situation in which strike price is greater than current price of stock is classified as
A
out-of-the-portfolio
B
in-the-portfolio
C
in-the-money
D
out-of-the-money
Question 8
Which of the following statements about new private sector banks are correct?
A
The stipulation in regard to priority sector lending norms and targets are to be observed by these banks. however, RBI may consider modification in these norms for an initial period
B
They would be required to open branches at rural / semi-urban centers
C
Only A
D
Both A and B
Question 9
First Return filed under GST is
A
GSTR-1
B
GSTR-3A
C
GSTR-2
D
GSTR-3B E. GSTR-4
Question 10
A company's merchandise, raw materials, finished and unfinished products which have not yet been sold is known as
A
Sales
B
Purchases
C
Inventory
D
Work in progress
Question 11
Second mortgages pledged against bond's security are referred as
A
loan mortgages
B
medium mortgages
C
senior mortgages
D
junior mortgages
Question 12
Sales are equal to
A
Cost of goods sold plus profit
B
Cost of goods sold minus gross profit,
C
Gross profit minus cost of goods sold,
D
none of these.
Question 13
Elasticity of demand measures the
A
Sensitivity of sales to changes in a particular causal factor
B
Sensitivity of production to changes in a particular cost
C
Value of price and cost
D
Volume of product
Question 14
Which among the following is a function of the Reserve Bank of India?
A
Bank issues the letters of credit to their customers certifying their credibility
B
Collecting and compilation of statistical information relating to banking & other financial sector
C
Banks underwrite the securities issued by public or private organizations
D
Accepting deposits from the public
Question 15
A favourable variance will arise when capital revenues are.....than expected.
A
Less
B
More
C
Lesser
D
None of the above
Question 16
You are given the following item (a) Bills Receivables (b) Short-term Investments (c) Debtors (d) Accrued but not received Interest. Which of the following arrangements in the order of liquidity is correct?
A
(a), (b), (c) and (d)
B
(b), (a), (d) and (c)
C
(b), (c), (a) and (d)
D
(c), (a), (d) and (b)
Question 17
What is the time limit to receive back the tools and dies or jigs and fixtures sent to jobworker's place?
A
1 year
B
3 years
C
5 years
D
No time limit specified under GST
Question 18
An unlimited liability is classified as liabilities of the
A
limited partners
B
general partners
C
venture partners
D
corporate partners
Question 19
For investors, steeper slope of indifference curve shows more
A
risk averse investor
B
risk taker investor
C
in differential investor
D
ineffective investment
Question 20
Match List-I with List-II and select the correct answer: \begin{table}[H]\centering\begin{tabular}{|c|c|}\hline List-I & List-II \\\hline A. G.P. Ratio &1. Convention of conservatism\\\hline B. Cash Budget& 2. Profitability\\\hline C. EOQ &3. Inventory M
A
$A-2, B-4, C-1, D-3$
B
$A-4, B-2, C-3, D-1$
C
$A-4, B-2, C-1, D-3$
D
$A-2, B-4, C-3, D-1$
There are 20 questions to complete.

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