Commerce online quiz 213

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
If the demand for a good is inelastic, an increase in the price of the good will cause the total expenditure of the consumers of the good to
A
Remain the same
B
Increase
C
Decrease
D
Any of the above
Question 2
Methods used to allocate costs of reciprocal support departments include
A
direct method
B
step down
C
reciprocal method
D
all of above
Question 3
Difference between bond's yield and any other security yield having same maturities is considered as
A
maturity spread
B
bond spread
C
yield spread
D
interest spread
Question 4
In linear cost function which is y=a + b, x objective is to find the
A
values of a and b
B
values of x and y
C
values of a and x
D
values of b and y
Question 5
Accounting Standard Board issuing Accounting Standards inIndia belongs to-
A
Ministry of Finance
B
Company Law Board
C
The Institute of Chartered Accountants of India
D
None of the above
Question 6
Many times we read the term 'ECB' in newspapers. What is the full form of 'ECB'?
A
Essential Commercial Banking
B
European Credit Borrowing
C
External Credit For Business
D
External Commercial Borrowing
Question 7
Which one of the following statements related to auditing is not correct?
A
Chances of frauds are maximum in the case of cash sales.
B
While routine checking is carried out vouching may be considered unnecessary.
C
While vouching the cash receipts the auditor should study the system of internal check in operation.
D
Vouching is the essence of auditing.
Question 8
An entry which is made on both sides of a cash book is called
A
Cash entry
B
Contra entry
C
Payment entry
D
Compound entry
Question 9
In the context of banking sector, DRT is associated with?
A
Recurring deposits
B
Demand and time liabilities of banks
C
Deposit insurance
D
Loan recovery
Question 10
You are given the following item
  1. Bills Receivables
  2. Short-term Investments
  3. Debtors
  4. Accrued but not received Interest.
Which of the following arrangements in the order of liquidity is correct?
A
(1), (2), (3) and (4)
B
(2), (1), (4) and (3)
C
(2), (3), (1) and (4)
D
(3), (1), (4) and (2)
Question 11
If the demand curve confronting an individual firm is perfectly elastic, then firm is
A
Price taker
B
Adjust output
C
Adjust price
D
All of these
Question 12
Drawing account is
A
Personal account
B
Nominal account
C
Real account
D
None of the above
Question 13
The Special Audit report is to be submitted normally within a period of:
A
30 days
B
60 days
C
90 Days
D
180 days
Question 14
When marginal revenue is zero, total revenue is
A
Maximum
B
Minimum
C
Zero
D
Decreasing
Question 15
10. If the opening and closing stock is Rs. 20, 000 each, purchases are Rs.50, 000, manufacturing expenses are Rs. 10, 000 and sales Rs. 90, 000, the gross profit will be.....
A
10, 000
B
20, 000
C
30, 000
D
40, 000
Question 16
Method which determines weights of cost allocation by considering cost of each user as separate entity is known as
A
bundled products allocation method
B
variable cost allocation method
C
stand-alone cost allocation method
D
incremental cost allocation method
Question 17
MC is given by
A
Slope of TFC
B
Slope of TC
C
Slope of AC
D
None of the above
Question 18
Earnings Per Share (EPS) is equal to.....
A
Profit before tax/No of outstanding shares
B
Profit after tax/No of outstanding shares
C
Profit after tax/Amount of equity share capital
D
Profit after tax less equity dividends/No of outstanding shares
Question 19
Providing employees with basic background information about the firms is
A
Education
B
Employee Orientation
C
Colleges and universities
D
Required by law
Question 20
In long run equilibrium, the pure monopolist can make pure profits because of
A
Blocked entry
B
The high price he charges
C
The low LAC costs
D
Advertising
There are 20 questions to complete.

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