Commerce online quiz 221

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The first state which ratified the GST Bill in India
A
Kerala
B
Bihar
C
Jharkhand
D
Assam
Question 2
Which of the following is not a feature of perfect competition?
A
Large number of buyers and sellers
B
Small number of buyers and sellers
C
Free entry and exit
D
Goods is homogeneous
Question 3
The constitution of the IRDA consists of not more than..... members.
A
10 members
B
7 members
C
9 members
D
8 members
Question 4
Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period?
A
High Court, within 30 days
B
Supreme Court within 60 days
C
SEBI within 90 days
D
Department of Companies Affairs within 60 days
Question 5
The portion of total deposits of a commercial bank which it has to keep with RBI in the form of cash reserves in termed as
A
CRR
B
SLR
C
Bank Rate
D
Repo Rate
Question 6
Which of the following is a type of cash receipt journal + cash payment journal?
A
Bank statement
B
Statement of cash flow
C
Cash book
D
Cash documents
Question 7
Redeemable Preference shares of Rs. $1, 00, 000$ are redeemed at a premium of 5%. With this object equity shares of Rs. $40, 000 are$ issued at par. What amount should be transferred to Capital Redemption Reserve Account?
A
Nil
B
Rs. 1, 05, 000
C
Rs. 65, 000
D
Rs. 60, 000
Question 8
The object of cost accounting is-
A
Ascertainment of Cost
B
Valuation of Stock
C
Cost Control
D
All of these
Question 9
An acknowledgement must be given on receipt of advance payment in respect of supply of goods or services:
A
Yes, in the form of a proforma invoice;
B
Yes, the invoice must be raised to that extent ;
C
Yes, as a receipt voucher;
D
None of the above
Question 10
The Workmen's compensation Act came into force in which year?
A
1930
B
1921
C
1944
D
1924
Question 11
Residual term is also considered as
A
error term
B
disturbance term
C
relevant term
D
both a and b
Question 12
The labour force participation rate is the
A
Proportion of population that is working
B
Proportion of population working or looking for work
C
Proportion of skilled workers population
D
Proportion of female workers to male workers
Question 13
Which of the following is not a manufacturing industry?
A
Iron and steel works
B
Flour Mills
C
Fruit canning
D
Mining
Question 14
The Land Development Bank secure short term accommodation from the
A
State Governments
B
Commercial Banks
C
State Co-Operative Banks
D
All of these
Question 15
"Calculate Re-order level from the following: Consumption per week: 100-200 units Delivery period: 14-28 days"
A
5600 units
B
800 units
C
1400 units
D
200 units
Question 16
The debit card holder can perform which of the following functions?
A
Make Point of Sale (POS) purchase
B
Recharge Pre-paid mobile phones
C
Pay Life Insurance premium
D
All of the above
Question 17
Consider the following information
  1. Gross sales Rs. 20, 00, 000
  2. Sales tax 7% on gross sales
  3. Income tax 40%
  4. Profit before tax 400, 000
What is net profit before tax ratio?
A
21.5%
B
22.50%
C
23.50%
D
24.50%
Question 18
Assertion (A): Existence of secret reserve contradicts the disclosed network of a business. Reason (R): Secret reserve helps promote managerial efficiency.
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 a correct explanation of A
C
A is true but R is false
D
A is false but R is true
Question 19
Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor
A
Yes
B
No
C
Yes vendor should be located in same place
D
None of the above
Question 20
.is a method of evaluating the job in terms of its money value.
A
Job analysis
B
Motion study
C
work measurement
D
Job evaluation
There are 20 questions to complete.

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