Commerce online quiz 201

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Specific price method of valuing material issue is used when.....
A
Materials are purchased for specific job or work order
B
materials are subject to natural wastage
C
prices fluctuate
D
none of these
Question 2
102: AS-9 (Revenue Recognition) is concerned with the recognition of revenue arising in the course of the ordinary activities of the enterprise from
A
The sale of goods
B
The rendering of services
C
The use by others of enterprise resources yielding interest, royalties and dividends
D
All of the above
Question 3
In expected rate of return for constant growth, stock price must grow according to an expected rate and
A
at same price
B
at different price
C
at yielded price
D
at buying price
Question 4
Cost which has occurred already and not affected by decisions is classified as
A
sunk cost
B
occurred cost
C
weighted cost
D
mean cost
Question 5
A person who brings capital in the business is called
A
debtor
B
creditor
C
proprietor
D
none of the above.
Question 6
Number of units are multiplied to per unit price, to calculate
A
multiple budget variable
B
fixed budget variable
C
flexible budget variable
D
constant budget
Question 7
Whether it is necessary to capitalize the capital goods in the books of account
A
Yes
B
No
C
Only use of goods is recognized
D
Accounting is not relevant
Question 8
Basis of apportionment of welfare department expenses is..
A
Wages of each department
B
Number of employees
C
materials consumed
D
number of machineries
Question 9
The type of loss that should not affect cost of inventories is.....
A
normal loss
B
abnormal loss
C
seasonal loss
D
standard loss
Question 10
The value of supply of goods and services shall be the
A
Transaction value
B
MRP
C
Market Value
D
None of above
Question 11
Roller machine is also called as..... machine.
A
rotary
B
copy
C
multiple
D
single
Question 12
Which one of the following statements is not correct?
A
Business firms combine to avoid wasteful competition
B
Business combination is possible only among joint stock companies
C
Business firms may combine to take advantage of patent rights of individual firms
D
During economic depression, small firms are absorbed by financially sound large firms
Question 13
Can the seized goods be released on provisional basis upon execution of a bond and furnishing of security or on payment of applicable ta, x interest and penalty?
A
Yes
B
No Inspection
C
At proper officer's discretion
D
None of the above
Question 14
Unsuccessful research expenditure should be..... cost accounts.
A
Excluded from
B
included in
C
apportioned in
D
none of these
Question 15
Capital market line reflects an attitude of investors towards risk which is considered as an/a
A
non-aggregate
B
effective
C
ineffective
D
aggregate
Question 16
..... are cheques that are issued by the business but not yet presented to bank for payment
A
Uncollected cheques
B
Uncredited cheques
C
Outstanding cheques
D
Bounced cheques
Question 17
Can a person apply for registration to pay tax u/s 10 for any of his business verticals at his choice?
A
Yes, irrespective of the registration status of other business verticals.
B
No all of his other business verticals also should have obtained registration for paying tax under section 10.
C
Yes, provided majority of the business verticals are paying under section 10.
D
Yes, if all the business vertical in a state are obtained registration to pay tax under section 10.
Question 18
Noting charges are paid at the time of
A
Renewal of the bill
B
Retirement of the bill
C
Dishonor of the bill
D
None of the above
Question 19
Consider the following items that are disclosed in a statement of cash flows-
  1. Cash flow from operating activities.
  2. Cash flow from financing activities.
  3. Closing cash and cash equivalents.
  • Cash fr
  • A
    2-3-1-4
    B
    1-4-2-3
    C
    2-4-1-3
    D
    1-3-2-4
    Question 20
    Manufacturing overhead cost allocated to individual jobs is classified as
    A
    manufacturing overhead allocated
    B
    cost overhead applied
    C
    manufacturing overhead applied
    D
    both A and C
    There are 20 questions to complete.

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