Commerce online quiz 228

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Who is liable to pay tax if the business of an individual is discontinued before his death
A
Board of Directors or Manager
B
Any member of his person who is willing to pay
C
Legal representative of taxable person
D
Employee
Question 2
Burns and Stalker model for categorising organisations by structural design uses the terms-
A
Functional and geographic
B
Functional and organic
C
Geographic and mechanistic
D
Mechanistic and organic.
Question 3
An allocation approach, in which all overhead entries are restated using actual cost rates in place of budgeted rates is called
A
unadjusted budget rate approach
B
adjusted allocation rate approach
C
unadjusted allocation rate approach
D
adjusted budget rate approach
Question 4
Costing and cost accounting are.....
A
not related at all
B
one and the same
C
Not the same
D
none of these.
Question 5
What is 'Net Interest Margin' of a Bank?
A
Margin of Interest earned on Trading in Govt Securities
B
Difference between the Base Interest Rate and the Average Lending Rate
C
Difference between the interest income and the amount of interest paid out
D
Difference between Interest on Term Loans and Interest on Cash Credits
Question 6
The first auditor of a company appointed, holds office-
A
For a period of one year
B
For that period till new auditor is appointed
C
Till the conclusion of first Annual General Meeting
D
Till the holding of statutory meeting of the company
Question 7
Basis of apportionment of creche expenses is.....
A
Number of employees
B
number of female employees
C
number of male employees
D
Both (B) and (C)
Question 8
Higher and accurate budgeted profit forecast of managers lead to
A
high incentive bonus
B
low incentive bonus
C
influence bonus
D
revenue bonus
Question 9
When you purchase copyrighted software, what actually are you paying for?
A
The cost of the CDs, manuals, and development of the software
B
The cost of the CDs, manuals, and a share of the cost of the software development
C
A share of the cost of software development
D
All of the above
Question 10
During the course of audit, the authorised officer may require the registered person:
A
to afford him the necessary facility to verify the books of account or other documents as he may require.
B
to furnish such information as he may require and render assistance for timely completion of the audit. Audit 167 Indirect Taxes Committee
C
(a) and/or (b)
D
Only (a)
Question 11
Under perfect competition, price of the product
A
Can be controlled
B
Cannot be controlled
C
Can be controlled within certain limit
D
None of the above
Question 12
The random walk hypothesis is most related to the.....
A
weak-form EMH
B
semi strong-form EMH
C
semi weak-form EMH
D
strong-form EMH
Question 13
Out of the following, direct expense is
A
Salaries
B
Carriage outward
C
Rent of office building
D
Carriage inward.
Question 14
The principle types of inventories are raw materials and, and finished goods
A
Processed materials
B
Goods-in-progress
C
stored goods
D
goods for dispatch
Question 15
Consider the following statements:
  1. Authority in an organization is the formal or institutional right to command stemming from official delegation of position.
  2. Legitimate power is the right to manage derived fro
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Question 16
Profit is maximum when
A
TC and TR curves are parallel
B
MC and MR curves are parallel
C
TC and TR curves cross each other
D
AC and AR curves cross each other
Question 17
At Present, What is the maximum amount that a payment bank can accept from a depositer?
A
Rs.5 lakhs
B
Rs.1 lakh
C
Rs.2 lakhs
D
Rs.75000
Question 18
In accounting, an economic event is referred to as
A
Cash
B
Bank statement
C
Transaction
D
Exchange of money
Question 19
Each subordinate should have only one superior whose command he has to obey. This is known as
A
Division of work
B
Exception principle
C
Unity of Command principle
D
Authority-responsibility principle
Question 20
Which among the following is the first universal bank of India?
A
HDFC
B
Axis Bank
C
ICICI
D
Federal Bank
There are 20 questions to complete.

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