Commerce online quiz 238

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
After declaration dividends are paid to the shareholders as per the provision of
A
Indian Companies Act
B
RBI Act
C
SEBI Act
D
Indian Contract Act
Question 2
Which of the following were considered to be compelling reasons for bank Nationalisation?
A
Concentration of wealth and economic power in the hands of industrialists and business
B
Branch expansion was confined to urban areas and rural area were being neglected
C
Sectors like agriculture small scale industries and the other deserving sectors were outside the purview of bank lending operations
D
All the above
Question 3
When the completion stage of the contract is more than half, the profit to be credited to Profit and Loss account will be equal to..
A
1/3rd of Notional Profit x cash received Work certified
B
1/2 of Notional Profit x cash received Work certified
C
2/3rd of Notional profit x cash received Work certified
D
full Notional Profit.
Question 4
A company purchases goods but does not pay payments to suppliers immediately and record them as
A
account payable
B
account receivable
C
current liabilities
D
accumulated liabilities
Question 5
Total assets divided common equity is a formula uses for calculating
A
equity multiplier
B
graphical multiplier
C
turnover multiplier
D
stock multiplier
Question 6
The per-product price consumers are willing to pay for a bundle..... as the number of goods in the bundle increases.
A
decreases
B
increases
C
varies from product to product
D
stays the same
Question 7
The going concern concept assumes that
A
The entity continue running for forseeable future
B
The entity continue running until the end of accounting period
C
The entity will close its operation in 10 years
D
The entity can't be liquidated
Question 8
A Company has head office in Bangalore and 4 branches in different states, all registered under GST and one ISD registered unit in Delhi. How many electronic cash ledgers will the company have?
A
1
B
4
C
5
D
6
Question 9
Which is the determinants of Capital Structure?
A
Government Policy
B
Control
C
Tax
D
Requirement of Investors
Question 10
Income received in advance is
A
an income
B
a liability
C
an asset
D
a loss
Question 11
A firm had a capital balance of Rs. 1, 00, 000 at the beginning of a year. At the end of the year, the firm has total assets of Rs. 1, 50, 000 and total liabilities of Rs. 70, 000. If the total withdrawals during the period were Rs. 30, 000, what was the amoun
A
Rs. 10, 000 profit
B
Rs. 20, 000 loss
C
Rs. 50, 000 loss
D
Rs10, 000 loss
Question 12
The impact of ethics on society include all of the following except
A
Public goods are often oversold at the expense of private goods.
B
Social costs include traffic congestion, air pollution and deaths and injuries from car accidents.
C
To restore the imbalance between social and private goods, the costs must be shifted to the consumer.
D
Marketing creates false wants that benefits producers more than consumers.
Question 13
When Maslow's need hierarchy is compared with Herzberg's two-factor theory of motivation, which of the following statements are correct?
  1. Maslow's psychological needs; security, safety and affiliation or acceptance r
A
l, 2 and 3
B
1 and 2 only
C
2 and 3 only
D
1 and 3 only
Question 14
What is the consequence, where a taxable person fails to obtain registration even though liable to do so?
A
proper officer may assess the tax liability to the best of his judgement.
B
Issue a show cause notice and pass assessment order after providing opportunity of being heard.
C
Either (a) or (b)
D
Both (a) and (b)
Question 15
Printers use costing.
A
Process
B
Batch
C
job
D
contract
Question 16
The agreement of partnership.....
A
Must be oral
B
Must be in writing
C
Can be either oral or in writing
D
Must be in writing on a stamp paper
Question 17
Which of the following manufacturers are composition tax payers
  1. Covered under compounded levy scheme
  2. Covered under MRP valuation scheme
  3. Covered under benefit of reduced excise duty rate
  4. Covered based o
A
(i) & (ii)
B
(i) & (iv)
C
(ii) & (iii)
D
(iii) & (iv)
Question 18
When can a voluntarily registered person's registration be cancelled?
A
If the person does not start business within six months from the date of registration.
B
Business has been discontinued or transferred for any reason.
C
Non-filing of returns for a continuous period of six months or for three consecutive tax period in case of composite dealer.
D
All of the above
Question 19
If a general manager asks the sales manager to recruit some salesman on his behalf, it is an instance of
A
Division of authority
B
Decentralisation of authority
C
Delegation of authority
D
Delegation of responsibility
Question 20
Derivatives can be used by an exporter for managing
A
currency risk.
B
cargo risk.
C
credit risk.
D
business risk.
There are 20 questions to complete.

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