Commerce online quiz 214

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
''Organisation is a Management Process by which people, functions and physical factors are brought together to form a controllable unit.'' This definition is given by-
A
Haney
B
Kelling B. Lewis
C
Oliver Sheldon
D
Cornell
Question 2
Recovery of bad debt is a
A
Revenue expenditure
B
Revenue receipt
C
Deferred expenses
D
Capital receipt
Question 3
In double entry system every business transaction affects
A
debit and credit side of the same account
B
two accounts
C
the same side of the same account
D
none of the these.
Question 4
111: In case the depreciable assets are revalued, the provision for depreciation is based on
A
The revalued amount on the estimate of the remaining useful life of such assets
B
Original cost of the assets
C
Depreciated value of the assets
D
AS-6 is silent in this regard
Question 5
Set of rules made by corporation founders such as directors election procedure are classified as
A
stock laws
B
by laws
C
liability laws
D
corporate laws
Question 6
SBI's new training initiative "Strategic Training Unit" is located at
A
New Delhi
B
Bangalore
C
Hyderabad
D
Mumbai
Question 7
According to Dutt Committee, large industrial houses were..... in the core sector
A
Allowed
B
Not allowed
C
restricted to the sector
D
absent
Question 8
Which of the following is true in respect of events after the applicability of GST? Transitional Provisions 271 Indirect Taxes Committee
A
Proceedings under earlier law will be disposed of under the earlier law
B
Any default due to proceedings in the earlier law will be recovered in the earlier law
C
Proceedings under the earlier law will be disposed of under the new law
D
Any refund due to the proceedings will be admissible as input tax credit
Question 9
Assertion (A). In 1991 government decided to allow all foreign investment to any industries without any restrictions. Reason (R). Government has enhanced the investment limit of small scale industries units.
A
Both (A) and (R) are true and (R) is the correct explanation of (A).
B
Both (A) and (R) are true but (R) is not the correct explanation of (A).
C
(A) is true but (R) is false.
D
(A) is false but (R) is true.
Question 10
The factor(s) which affect(s) P/E ratio is/are.....
A
Growth rate
B
Debt proportion
C
Retention ratio
D
All of the above
Question 11
If there are 15 credit purchases during a given month, then there will be..... posting from the purchase book at the end of the month
A
15
B
16
C
14
D
17
Question 12
Boiler house costing is an example of.costing
A
Operation
B
process
C
service
D
none of these
Question 13
..is most suitable when quality of work is of prime importance.
A
Piece rate system
B
time wage system
C
both a & b
D
none of these
Question 14
The collection of integrated and related master files is known as
A
database
B
table
C
record
D
field
Question 15
The total of all direct expenses is known as..cost.
A
Prime
B
Works
C
Production
D
both a & b
Question 16
In Imperfect competition total revenue rises at..... upto an output level and then......
A
A decreasing rate, falls
B
A decreasing rate, rises
C
An increasing rate, falls
D
An increasing rate, rises
Question 17
The time limit to pay the value of supply with taxes
A
90 days
B
6 months
C
180 days
D
365 dyas
Question 18
The 'Diamond water' controversy is explained by
A
Total utility
B
Marginal utility
C
Price offered
D
Quantity supplied
Question 19
If Supply of Services has ceased under a contract before the completion of supply:
A
Invoice has to be issued within 30 days on the basis of 'Quantum Meruit' from the date of cessation;
B
Invoice has to be issued at the time of cessation to the extent of the supply effected;
C
Invoice has to be issued for the full value of the contract after deducting a percentage thereof as prescribed;
D
Invoice cannot be issued as the matter will be sub-judice.
Question 20
Which one refers to cash in How under pay back period method?
A
Cash flow before depreciation and taxes
B
Cash flow after depreciation and taxes
C
Cash flow after depreciation but before taxes
D
Cash flow before depreciation and after taxes
There are 20 questions to complete.

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