Commerce online quiz 260

By | August 21, 2018

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10000 MCQ /questions on commerce questions answers

Question 1 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
What if an e-commerce operator having no physical presence in the taxable territory, does not have a representative in the taxable territory?
A
His will have to discharge his tax liability in foreign currency
B
He will not be liable to tax
C
He has to appoint a person in the taxable territory for the purpose of paying tax on his behalf
D
None of the above
Question 2 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
American companies prepare their financial statement in Dollars whereas Japanese companies produce financial statement in Yen. This is an example of:
A
Stable monetary unit concept
B
Unit of measurement concept
C
Money value concept
D
Current swap concept
Question 3 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
What is the validity of the registration certificate?
A
One year
B
Valid till it is cancelled.
C
No validity
D
Five years.
Question 4 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which of the following is called Backbone of auditing?
A
Routine checking
B
Vouching
C
Internal checks
D
Internal control
Question 5 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Residual material which results from manufacturing products is called
A
reduced work
B
spoilage
C
rework
D
scrap
Question 6 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Who among the following is the head of the expert committee on Streamlining Short-term Co-operative Structure in India?
A
MB Shah Committee
B
P Kotaiah
C
Prakash Bakshi
D
R K Singh
Question 7 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
What are different types of supplies covered under the scope of Supply under CGST Act 2017?
A
Supplies made with consideration
B
Supplies made without consideration
C
Both of the above
D
None of the above
Question 8 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which will notarmomputer resources?
A
firewall
B
Virus
C
Trojan horse
D
None of the above
Question 9 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which of the following has helped to eliminate the use of stock certificates by placing stock transactions on computers?
A
Demat account
B
Securities Exchange Commission
C
Depository Trust Company
D
Federal Depository Insurance Corporation.
Question 10 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which one of the following is not considered for preparation of cost sheet?
A
Factory cost
B
Goodwill written off
C
Labour cost
D
Selling cost
Question 11 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Quotas of all IMF members are reviewed at intervals of
A
Five years
B
Not more than five years
C
Three years
D
Two years
Question 12 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Where supply has been made before the date of implementation of GST, no tax shall be Payable:
A
If tax/duty has been paid under the earlier law
B
If goods were exempted under the earlier law
C
If the goods were non-taxable under the earlier law
D
All of the above
Question 13 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
In process costing, if an abnormal loss arises, the process account is generally.
A
Debited with the scrap value of the abnormal loss units
B
Debited with the full production cost of the abnormal loss units
C
Credited with the scrap value of the abnormal loss units
D
Credited with the full production cost of the abnormal loss units
Question 14 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Commercial accounting is based on
A
Single entry book keeping
B
Double entry book keeping
C
Both single and double entry book keeping
D
Cash basis of book keeping
Question 15 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
What is time of supply of goods liable to tax under reverse charge mechanism?
A
Date of receipt of goods
B
Date on which the payment is made
C
Date immediately following 30 days from the date of issue of invoice by the supplier
D
Earlier of a/b/c
Question 16 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Labour cost variance is the difference between standard cost of labour and.....
A
Budgeted cost of labour
B
Estimated cost of labour
C
Actual cost of labour
D
None of these
Question 17 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Goodness of fit is used to measure wellness of
A
actual values
B
predicted values
C
residual values
D
indexed values
Question 18 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Market segmentation means-
A
Grouping of buyers
B
Grouping of sellers
C
Grouping of middle men
D
Grouping of producers
Question 19 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
SEBI was given statutory status on.....
A
3011992
B
111992
C
431992
D
441992
Question 20 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Goodwill, Copyright and Trademarks should be classified as-
A
Tangible assets
B
Intangible assets
C
Current assets
D
Fictitious assets
There are 20 questions to complete.

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