10000 MCQ /questions on commerce questions answers
Interest rate "Savings deposit" now a days is decided by-
The voting right of the members of cooperative organization is?
In the proportion of the shares purchased by them
In the proportion of capital employed by them
Equal voting right
In the proportion of the total amount supplied by them
What type of expenses are paid out of Gross Profit?
All of the above
The basic function of financial accounting is to
record all business transactions
interpret financial data
assist the management in performing functions,
none of the above.
Nature of the product is the vital factor, which influences the..... of the units.
Deduction u/s SOD is allowed if the premium is paid to
Life insurance Corporation
General insurance Corporation or any other insurer approved by IRDA
Life insurance or General insurance corporation
None of the above
The details of inward supplies of goods or services in Form GSTR 2 shall be submitted by
10th of the succeeding month
18th of the succeeding month
15th of the succeeding month
20th of the succeeding month
The source of revenue in a subscription revenue model is.....
Fees from advertisers in exchange for advertisements
Fees for business referrals
Fees from subscribers in exchange for access to content or services
Fees for enabling or execution a transaction
IRDA refers to.....
Insurance Regulatory Development Authority
Indian Regulatory Development Authority
Institute of Regulatory Development Authority
Insurance Regulatory Development Association
Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute
Gross margin percentage
total production cost of each product
allocated joint costs
cost of split off point
If RBI adopts an expansionist open market operations policy, this means that it will.....
Offer commercial banks more credit in open market
Sell securities in the open market
Openly announce to the market that it intends to expand credit
buy securities from non-government holders
Cash receipts is added in to beginning cash balance to calculate
total goods manufactured
total cash available
total goods sold
Auditors of a company have to report to the:
Board of Director
Shareholders at the annual general meeting
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?
Subject to tax at the appropriate rate of GST
At the half rate of the GST
Only SGST is charged
When a market is in equilibrium
No shortage exists
Quantity demanded equals quantity supplied
A price is established that clears the market
All of the above are correct
The maximum amount beyond which a company is not allowed to raise funds by issue of shares is
Which type of classification is based on alphabetical order?
Subject wise classification
In case of Board Meetings the Quorum must be present-
At the commencement of the meeting
At the termination of the meeting
Throughout the meeting
At the commencement and termination both
118: How the deferred revenue expenses are treated in the books of accounts?
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.
Such expenses are charged fully to the Profit and Loss Account of the year in which these are incurred.
Either (A) or (B)
None of the above
In which of the following market does devaluation of currency happen?
Fixed exchange rate
Floating exchange rate
Pegged exchange rate
Either A or B
There are 20 questions to complete.