Commerce online quiz 281

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।)
An assumption, which states that there must be linear relationship between independent variable and dependent variable is
A
irrelevant range of linearity
B
relevant range of linearity
C
significant range
D
insignificant range
Question 2 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The tax invoice should be issued.....the date of supply of service:
A
Within 30 days from
B
Within 1 month from
C
Within 15 days from
D
On
Question 3 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Describe the cost unit applicable to the Bicycle industry:
A
per part of bicycle
B
per bicycle
C
per tonne
D
per day
Question 4 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
What will happen if the turnover of a registered person opting to pay taxes under composition scheme during the year 2017-18 crosses Rs.50 lakhs?
A
He can continue under composition scheme till the end of the financial year
B
He will be liable to pay tax at normal rates of GST on the entire turnover for the financial year 2017-18
C
He will cease to remain under the composition scheme with immediate effect
D
He will cease to remain under the composition scheme from the quarter following the quarter in which the aggregate turnover exceeds Rs.50 lacs
Question 5 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Hierarchy has been described as the "scalar process" by
A
L.D. White
B
Mooney and Riley
C
P.H. Appleby
D
Gullick and Urwick
Question 6 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Whether prosecution can be initiated against the following persons?
A
Members of Appellate Tribunal, since they did not follow the case law, which was decided by the President, leading to incorrect decision by such members of Appellate Tribunal
B
Adjudicating Authority for not following the orders of the Commissioner, when such work was delegated to such Adjudicating Authority
C
Vindictive action taken by a departmental officer, while discharging his function. The action was however in the favour of the revenue
D
None of the above
Question 7 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
A debit in a nominal account denotes an......
A
income
B
loss
C
revenue
D
expense
Question 8 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
If the price of good A increases relative to the price of substitutes B and C, the demand for
A
B will increase
B
C will increase
C
Both B and C will increase
D
B and C will decrease
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 persons can opt for composition scheme?
A
Person making any supply of goods which are not leviable to tax under this Act;
B
Person making any inter-State outward supplies of goods;
C
Person effecting supply of goods through an e-commerce operator liable to collect tax at source
D
None of the above
Question 10 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
An opportunity cost is.....
A
the advantage foregone
B
the cost
C
the income
D
none of the above.
Question 11 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Tarapore Committee submitted its report on ''Full Convertibility on Rupee'' on-
A
Current account
B
Capital account
C
Both in current as well as in Capital account
D
Special Drawing Rights (SDR)
Question 12 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
In India GST became effective from
A
1st April, 2017
B
1st January, 2017
C
1st July, 2017
D
1st March, 2017
Question 13 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
When can the proper officer issue summons to call upon a person?
A
To give evidence
B
Produce a document
C
Produce any other thing in an enquiry
D
All of the above
Question 14 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Constant growth rate is 7.2% and an expected rate of return is 12.5% then expected dividend yield will be
A
5.30%
B
19.70%
C
-5.30%
D
17.36%
Question 15 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
What is 'STT'?
A
Standard Transaction Tax
B
Securities Transaction tax
C
Securities Transfer tax
D
Standard Transfer tax
Question 16 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Reorder point is divided by number of sold units for per unit of time to calculate
A
relevant carrying cost
B
relevant ordering cost
C
purchase order lease time
D
number of purchase orders
Question 17 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
When marginal utility is negative then total utility?
A
increases
B
decreases
C
is zero
D
is negative
Question 18 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The swap arrangement where principal amounts are not exchanged, but periodical payments will be a
A
Currency swap
B
Cross currency interest swap
C
Interest rate swap.
D
Non-Financial swap.
Question 19 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Whether the registered person will get immunity from interest & late fee leviable if assessment order passed u/s 62(1) is withdrawn?
A
Taxable person will get immunity only from late fee u/s 47.
B
No, taxable person will still be liable for interest u/s Section 50 and late fee u/s Section 47. Therefore, no immunity has been provided for the same.
C
Taxable person will get immunity from late fee u/s 47 as well as interest u/s 50.
D
Taxable person will get immunity only from interest u/s 50.
Question 20 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
What are the supplies on which reverse charge mechanism would apply?
A
Notified categories of goods or services or both
B
Inward supply of goods or services or both from an unregistered dealer
C
Both of the above
D
None of the above
There are 20 questions to complete.

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