Commerce online quiz 195

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
If any of the parties are aggrieved by the advance ruling of the AAR, what will be the option available to the dealer or CGST/SGST Officials?
A
File appeal before the AAAR
B
Refer the case for the revision Order of the Commissioner
C
Approach the Tribunal
D
Any of the Above
Question 2
Reserve Bank of India was nationalized in:
A
1946
B
1947
C
1948
D
1949
Question 3
Can the recipient avail the Input tax credit for the part payment of the amount to the supplier within one hundred and eighty days?
A
Yes on full tax amount and partly value amount
B
No he can't until full amount is paid to supplier
C
Yes but proportionately to the extent of value and tax paid Input Tax Credit 53 Indirect Taxes Committee
D
Not applicable
Question 4
A manager, who is responsible for both cost and revenues belongs to department of
A
cost center
B
revenue center
C
profit center
D
investment center
Question 5
A measure which is not included in Fama French Three-Factor model is
A
realized risk free rate
B
rate of return on market
C
random error
D
risk premium
Question 6
.....is an expenditure which is incurred to meet the day to day expenses of the business.
A
capital expenditure
B
revenue expenditure
C
deferred revenue expenditure
D
none of these
Question 7
Who is liable to pay the tax in case of Principal and Agent?
A
Principal
B
Agent
C
Both jointly and severally
D
Jointly
Question 8
The use of preference share capital as against debt finance.
A
Reduces DFL
B
Increases DFL
C
Increases financial risk
D
Both a and b
Question 9
Dividing the net profit by the paid up amount of equity share capital yields...
A
Temporary investment
B
Earning per share
C
Rate of return on equity share capital
D
None of the above
Question 10
Under perfect competition
A
AC=AVC
B
AR=AC
C
AR=MC
D
AR=MR
Question 11
Cash purchases is recorded in which of the following specialized journals?
A
Purchase Journal
B
Sales Journal
C
Purchase return journal
D
Cash payments journal
Question 12
At elasticity of one, marginal revenue is equal to
A
one
B
zero
C
infinity
D
none
Question 13
In a machine dominated industry which method of overhead absorption is suitable?
A
Direct material cost method
B
Prime cost method
C
Labour hour method
D
Machine hour method
Question 14
A.....is used for recording all residual transactions which cannot find place in any of the subsidiary books.
A
journal proper
B
ledger
C
general journal
D
none of these
Question 15
Risks in the business arise because of
A
Introduction of the new products
B
Uncertain policy of rival firms
C
Changes in tastes
D
All of the above
Question 16
Consider the following
  1. Tariff binding
  2. Tariffication
  3. Tariff cuts
  4. Reduction in subsidies and domestic support
Which of the above are aspects of the Uruguay Round Agreement on agriculture?
A
1, 2 and 3
B
2, 3 and 4
C
1, 3 and 4
D
1, 2, 3 and 4
Question 17
If credit applicable to more than one recipient, then it shall be distributed
A
Equally
B
On Pro rata basis to the aggregate turnover of such recipients
C
Proportionately
D
As per Adhoc Ratio
Question 18
Which of the following is not an item of Balance Sheet?
A
Accounts receivable
B
Accounts payable
C
Sales revenue
D
Marketable securities
Question 19
Speculation in stock exchange means.....
A
Investment in securities
B
Gambling in securities
C
Buying and selling securities in the hope of making profile due to change in prices
D
Creating secret profits
Question 20
The calculation of the aggregate turnover to decide the Taxable Minimum Turnover will be based on
A
State Wise Turnover Basis
B
All India Turnover Basis
C
State Wise Turnover excluding Export
D
All India Turnover excluding Export
There are 20 questions to complete.

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