Commerce online quiz 236

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Interest rate "Savings deposit" now a days is decided by-
A
RBI
B
SBI
C
Respective Banks
D
IBA
Question 2
The voting right of the members of cooperative organization is?
A
In the proportion of the shares purchased by them
B
In the proportion of capital employed by them
C
Equal voting right
D
In the proportion of the total amount supplied by them
Question 3
What type of expenses are paid out of Gross Profit?
A
General expenses
B
Financial expenses
C
Selling expenses
D
All of the above
Question 4
The basic function of financial accounting is to
A
record all business transactions
B
interpret financial data
C
assist the management in performing functions,
D
none of the above.
Question 5
Nature of the product is the vital factor, which influences the..... of the units.
A
size
B
profit
C
sales
D
Demand
Question 6
Deduction u/s SOD is allowed if the premium is paid to
A
Life insurance Corporation
B
General insurance Corporation or any other insurer approved by IRDA
C
Life insurance or General insurance corporation
D
None of the above
Question 7
The details of inward supplies of goods or services in Form GSTR 2 shall be submitted by
A
10th of the succeeding month
B
18th of the succeeding month
C
15th of the succeeding month
D
20th of the succeeding month
Question 8
The source of revenue in a subscription revenue model is.....
A
Fees from advertisers in exchange for advertisements
B
Fees for business referrals
C
Fees from subscribers in exchange for access to content or services
D
Fees for enabling or execution a transaction
Question 9
IRDA refers to.....
A
Insurance Regulatory Development Authority
B
Indian Regulatory Development Authority
C
Institute of Regulatory Development Authority
D
Insurance Regulatory Development Association
Question 10
Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute
A
Gross margin percentage
B
total production cost of each product
C
allocated joint costs
D
cost of split off point
Question 11
If RBI adopts an expansionist open market operations policy, this means that it will.....
A
Offer commercial banks more credit in open market
B
Sell securities in the open market
C
Openly announce to the market that it intends to expand credit
D
buy securities from non-government holders
Question 12
Cash receipts is added in to beginning cash balance to calculate
A
total goods manufactured
B
total cash available
C
total revenue
D
total goods sold
Question 13
Auditors of a company have to report to the:
A
Board of Director
B
Managing Director
C
Institutional Investors
D
Shareholders at the annual general meeting
Question 14
Suppose tax exempted identifiable goods under earlier law dispatched within 6 months prior to the appointed day are returned back after 6 months from the appointed day. How, the tax element involved in the return supply will be treated under GST?
A
Subject to tax at the appropriate rate of GST
B
No GST
C
At the half rate of the GST
D
Only SGST is charged
Question 15
When a market is in equilibrium
A
No shortage exists
B
Quantity demanded equals quantity supplied
C
A price is established that clears the market
D
All of the above are correct
Question 16
The maximum amount beyond which a company is not allowed to raise funds by issue of shares is
A
Issued capital
B
Reserve capital
C
Nominal capital
D
Subscribed capital
Question 17
Which type of classification is based on alphabetical order?
A
Alphabetical classification
B
Numerical classification
C
Subject wise classification
D
Geographical classification
Question 18
In case of Board Meetings the Quorum must be present-
A
At the commencement of the meeting
B
At the termination of the meeting
C
Throughout the meeting
D
At the commencement and termination both
Question 19
118: How the deferred revenue expenses are treated in the books of accounts?
A
Such expenses are taken to Profit and Loss Account in part every year and thus unwritten off portion may be allowed to stand in the balance sheet on the asset side.
B
Such expenses are charged fully to the Profit and Loss Account of the year in which these are incurred.
C
Either (A) or (B)
D
None of the above
Question 20
In which of the following market does devaluation of currency happen?
A
Fixed exchange rate
B
Floating exchange rate
C
Pegged exchange rate
D
Either A or B
There are 20 questions to complete.

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