Commerce online quiz 272

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
is a technique of stock control which leads to saving of time of the management because attention is required to be paid only to some of the items rather than on all the items.
A
ABC Analysis
B
JIT Inventory System
C
VED Analysis
D
Perpetual Inventory System
Question 2
In GST, a Taxable Event is reckoned based on:
A
Based on Basic tax Point Only
B
Based on Actual tax Point Only
C
Basic tax Point or Actual Tax Point whichever is earlier
D
None of the Above
Question 3
Costs incurred in production process that yield range of products simultaneously are known as
A
separable costs
B
joint costs
C
main costs
D
split off costs
Question 4
The legal representative or any other person of an individual who is dead is liable to pay ta, x only if-
A
The business has been carried on by the legal representative
B
The business has been carried by the legal representative or any other person
C
The business has been carried by any other person
D
None of the above.
Question 5
Whether all the returns submitted under Section 39 will be scrutinised?
A
No, 50% of the returns submitted under Section 39 will be scrutinised.
B
Yes, all the returns submitted under Section 39 will be scrutinised.
C
No, Returns submitted under Section 39 will be self-assessed and proper officer may select any return for scrutiny under this Section.
D
No, 35% of the returns submitted under Section 39 will be scrutinised.
Question 6
..... is prepared to find the financial position of business
A
Trial balance
B
trading account
C
P/L account
D
Balance Sheet
Question 7
The bank rate means.....
A
Rate of Interest charged by commercial banks from borrowers
B
Rate of Interest at which commercial banks discounted bills of their borrowers
C
Rate of interest allowed by commercial banks on their deposits
D
Rate at which RBI purchases or re-discounts bills of exchange of commercial banks
Question 8
As compared to cumulative average-time learning model, learning model which predicts more cumulative total time to produce more units is known as
A
incremental unit time learning model
B
incremental price learning model
C
incremental unit average model
D
incremental cost learning model
Question 9
Increase in fixed asset due to purchase is-
A
Source of fund
B
Fund from operation
C
Use of fund
D
None of the above
Question 10
Qualities demanded from the job holder is technically known as
A
Job description
B
job specifications
C
job evaluation
D
both a & b
Question 11
Receipts and Payments Account is an abbreviated form of-
A
Cash Book
B
Pass Book
C
Both Cash Book and Pass Book
D
None of the above
Question 12
Which of the following is not a banking related term?
A
SME Finance
B
Equinox
C
Overdraft
D
Sanctioning Authority
Question 13
To decide whether cost is variable cost or fixed cost with respect to some specific activity depends upon
A
units of labour
B
unit of production
C
time horizon
D
units of inventory
Question 14
Which of the following statements are correct?
  1. Revocation of cancellation of registration under CGST/SGST Act shall be deemed to be a revocation of cancellation of registration under SGST/CGST Act.
  2. Cancellation
A
(i) & (ii)
B
(iii) & (iv)
C
(i), (ii) & (iii)
D
(i), (ii), (iii) & (iv)
Question 15
Which of the following rates decided by the RBI is called ''Policy Rate''?
A
Lending Rate
B
Cash Reserve Ratio
C
Bank Rate
D
Deposit Rate
Question 16
Auction Rated Debentures (ARDs) are a hybrid of-
A
Shares and Debentures
B
Shares and Commercial Papers
C
Commercial Papers and Debentures
D
Zero Interest Bonds and Deep Discount Bonds
Question 17
IMF augments its resources by borrowing under
A
General arrangements to borrow
B
New arrangements to borrow
C
Trust funds
D
All the above
Question 18
The normal time limit for filing a first appeal before the departmental first authority?
A
Within 6 Months from the date of the communication of the Order
B
Within 4 Months from the date of the communication of the Order
C
Within 3 Months from the date of the communication of the Order
D
Within 2 Months from the date of the communication of the Order
Question 19
"Which of the following would explain an adverse variable production overhead efficiency variance? 1 Employees were of a lower skill level than specified in the standard 2 Unexpected idle time resulted from a series of machine breakdown 3 Poor Quality ma
A
(1), (2) and (3)
B
(1) and (2)
C
(2) and (3)
D
(1) and (3)
Question 20
Marketing research data is gathered by
A
Observation
B
In-depth interviews
C
Controlled experiment
D
All of the above
There are 20 questions to complete.

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