10000 MCQ /questions on commerce questions answers
The most suitable method of filing for a transactional corporation is-
'The age of Discontinuity' (1969) has been authored by
Peter F. Drucker
None of these
The sheet of record which contains all monetary transaction between an country and the rest of the world is called-
Balane of trade
Balance of Payment
A credit balance in cash book indicates
Cash at bank
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?
The Unadjusted Cenvat Credit under earlier law will be transferred and credited to:
Any of the Above
Who is the Chairman of the Planning Commission?
Governor of Reserve Bank of India
Dividend paid by an Indian company is
Taxable in India in the hands of the recipient
Exempt in the hands of recipient
Taxable in the hands of the company and exempt in the hands of the recipient
None of the above
Total indirect cost in pool by an actual quantity of cost allocation base is used to calculate
actual manufacturing overhead rate
manufacturing overhead costs
As the value of x increases, if value of y decreases, then coefficient of correlation will be
None of the above
How can the principal move goods to the job-worker?
Delivery challan containing the details as specified in the Tax invoice, credit and debit note rules.
Option (a) or (b)
Fancy packing is an example of.expenses.
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
20% as it is lower of the two
24% as it is higher of the two Time and Value of Supply
24% as two of the three factors occurred prior to rate change
20% as one of the factors occurred after rate change
The Reserve Bank of India (RBI) acts as a bankers' bank. This would imply which of the following?
- Other bank retains their deposits with the RBI.
- The RBI lends funds to the commercial banks in times of need.
- 2 and 3 only1 and 2 only1 and 3 only1, 2 and 3
Any modification / deletion done by the recipient to the details contained in Form GSTR 2 shall be communicated to the supplier in
Form GSTR 1A
Form GSTR 3A
Form GSTR 6A
Form GSTR 2A
According to International Fisher Effect
Forward Premium for a currency indicates its depreciation in future.
Forward Premium for a currency indicates its appreciation in future.
Forward Rates and spot rates are not linked
Forward Rates are based on expected future spot rates.
Refund shall not be paid to the applicant if the amount of refund is less than
An unfavourable material usage arises because of:
Price increase in raw materials
Price decrease in raw mateials
Less than anticipated normal wastage in the manufacturing process
More than anticipated normal wastage in the manufacturing process
Any input tax paid on purchase of goods or services by an assessee for employees is eligible?
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
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?
There are 20 questions to complete.