Commerce online quiz 204

By | August 21, 2018

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10000 MCQ /questions on commerce questions answers

Question 1 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The most suitable method of filing for a transactional corporation is-
A
Numerical
B
Alphabetical-Numerical
C
Numerical-Territorial
D
Territorial
Question 2 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
'The age of Discontinuity' (1969) has been authored by
A
John Drydon
B
Cyril Debydeen
C
Peter F. Drucker
D
None of these
Question 3 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The sheet of record which contains all monetary transaction between an country and the rest of the world is called-
A
Balane of trade
B
Balance of Payment
C
Balance sheet
D
Export-Import Data
Question 4 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
A credit balance in cash book indicates
A
Bank balance
B
Cash at bank
C
Bank overdraft
D
Bank underdraft
Question 5 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Expenses need to be recorded in the period in which the associated revenues are recognised. This is to be ensured as per which one of the following accounting principles?
A
Revenue recognition
B
Cost benefit
C
Matching
D
Periodicity
Question 6 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The Unadjusted Cenvat Credit under earlier law will be transferred and credited to:
A
IGST ITC
B
CGST ITC
C
SGST ITC
D
Any of the Above
Question 7 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Who is the Chairman of the Planning Commission?
A
Prime Minister
B
President
C
Governor of Reserve Bank of India
D
Finance Secretary
Question 8 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Dividend paid by an Indian company is
A
Taxable in India in the hands of the recipient
B
Exempt in the hands of recipient
C
Taxable in the hands of the company and exempt in the hands of the recipient
D
None of the above
Question 9 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Total indirect cost in pool by an actual quantity of cost allocation base is used to calculate
A
actual manufacturing overhead rate
B
manufacturing overhead costs
C
overhead rate
D
direct rate
Question 10 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
As the value of x increases, if value of y decreases, then coefficient of correlation will be
A
Positive
B
Negative
C
Zero
D
None of the above
Question 11 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
How can the principal move goods to the job-worker?
A
Job-work challan
B
Tax invoice
C
Delivery challan containing the details as specified in the Tax invoice, credit and debit note rules.
D
Option (a) or (b)
Question 12 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Fancy packing is an example of.expenses.
A
Selling
B
Distribution
C
administration
D
factory
Question 13 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
There was decrease in tax rate from 24% to 20% w.e.f. 1.6.2018. Which of the following rate is applicable when invoice was issued after change in rate of tax in June 2017 but payment received and goods supplied in April 2017
A
20% as it is lower of the two
B
24% as it is higher of the two Time and Value of Supply
C
24% as two of the three factors occurred prior to rate change
D
20% as one of the factors occurred after rate change
Question 14 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The Reserve Bank of India (RBI) acts as a bankers' bank. This would imply which of the following?
  1. Other bank retains their deposits with the RBI.
  2. The RBI lends funds to the commercial banks in times of need.
    A
    2 and 3 only
    B
    1 and 2 only
    C
    1 and 3 only
    D
    1, 2 and 3
Question 15 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Any modification / deletion done by the recipient to the details contained in Form GSTR 2 shall be communicated to the supplier in
A
Form GSTR 1A
B
Form GSTR 3A
C
Form GSTR 6A
D
Form GSTR 2A
Question 16 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
According to International Fisher Effect
A
Forward Premium for a currency indicates its depreciation in future.
B
Forward Premium for a currency indicates its appreciation in future.
C
Forward Rates and spot rates are not linked
D
Forward Rates are based on expected future spot rates.
Question 17 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Refund shall not be paid to the applicant if the amount of refund is less than
A
Rs 1000
B
Rs 5000
C
Rs 7000
D
Rs 10000
Question 18 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
An unfavourable material usage arises because of:
A
Price increase in raw materials
B
Price decrease in raw mateials
C
Less than anticipated normal wastage in the manufacturing process
D
More than anticipated normal wastage in the manufacturing process
Question 19 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Any input tax paid on purchase of goods or services by an assessee for employees is eligible?
A
No
B
Yes
C
Yes, on the services notified which are obligatory for an employer to provide to its employees under any law for the time being in force
D
Not applicable
Question 20 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The mean marks of 100 students were found to be 40. Later on it was discovered that a score of 53 was misread as 83. The correct mean will be?
A
39.5
B
39.7
C
39.8
D
39.9
There are 20 questions to complete.

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