Commerce online quiz 196

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Out of IGST paid to the Central Government, which of the following must be apportioned based on tax rate equivalent to the CGST on similar intra-state supply?
A
Interstate supply of goods and services to an unregistered person.
B
Interstate supply of goods and services to a taxable person paying tax under sec.10 of the CGST Act, 2017.
C
Interstate supply of good and services to taxable person not eligible for input tax credit.
D
All of the above.
Question 2
.....provides information for income determination.
A
Financial accounting
B
cost accounting
C
management accounting
D
none of these
Question 3
10.Consider the following statements:
  1. It is mandatory for all business enterprises to conduct audit of accounts.
  2. Audit Note Book is a tool in the conduct of audit.
  3. Internal check system is an inbuilt mecha
A
l only
B
2 and 3
C
3 only
D
1, 2 and 3
Question 4
The basic aim of Securities and Exchange Board of India (SEBI) is to-
A
Develop an effective and efficient monitoring and control system for the Indian Capital Market
B
To help Bombay Stock Exchange only
C
To help National Stock Exchange of India Ltd. only
D
To help OTC Exchange of India only
Question 5
Outdated and seldom used books are withdrawn from the library is known as.....
A
Shelving
B
Weeding
C
Circulating
D
Guiding
Question 6
Which section specifies the conditions to be fulfilled for claiming ITC on inputs and/or capital goods sent to jobworker?
A
19
B
55
C
143
D
177
Question 7
Savings accounts are..... but are not.....
A
negotiable; liquid
B
marketable; liquid
C
liquid; personal
D
liquid; marketable
Question 8
Net income and depreciation is Rs 313, 650, 000 and common shares outstanding are 55, 000, 000 then cash flow per share would be
A
Rs 5.70
B
Rs 6.70
C
Rs 7.70
D
Rs 8.70
Question 9
The term 'marginal' in economics means
A
Unimportant
B
Additional
C
The minimum unit
D
Just barely passing
Question 10
..... is a force to drive a person to action.
A
Motivation
B
Co ordination
C
Co-operation
D
Control
Question 11
How many countries have been undertaken to lend to IMF if there is need to cope with an impairment of the International monetary system?
A
11
B
50
C
15
D
20
Question 12
Different accounting policies can be adopted in the following area(s)
A
Valuation of inventories
B
Valuation of Investments
C
Calculation of depreciation
D
All of the above
Question 13
Material control involves.....
A
consumption of material
B
issue of material
C
purchase of material
D
purchase, storage and issue of material
Question 14
Export procedure begins with-
A
Indent
B
Shipping order
C
Marine insurance
D
None of these
Question 15
Which of the following account will be credited when the goods are purchased on credit from Mr. Ali?
A
Purchases account
B
Mr. Ali account
C
Cash account
D
Sales account
Question 16
Overall and strategic planning is done by the
A
Top management
B
Middle level management
C
Supervisory level management
D
All of the above
Question 17
Account to be debited by the proprietor of business for purchasing furniture for his private use for cash from Furniture House will be
A
Purchase account
B
Furniture account
C
Drawing account
D
Furniture House account
Question 18
In activity based costing system, description of activity can be classified as
A
activity list
B
activity dictionary
C
active purpose
D
both a and b
Question 19
Who is called 'The Father of Scientific Management'?
A
Elton Mayo
B
Henry Fayol
C
E. F. L. Breach
D
F. W. Taylor
Question 20
Which of the following is not a part of managerial process?
A
Planning
B
Accounting
C
Coordination
D
Directing Cash at bank
There are 20 questions to complete.

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