Commerce online quiz 289

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
..... is a preventive function.
A
Costreduction
B
Costcontrol
C
Costunit
D
Costcentre
Question 2
Which index system is used when small information is required about customers?
A
Vowel index
B
Book index
C
Strip index
D
Card index
Question 3
The normal balance of capital account is
A
Credit balance
B
Debit balance
C
Cash balance
D
Neither debit nor credit balance
Question 4
Under vouching, checking is done of-
A
Journal and Ledger
B
Profit and Loss Account
C
Balance Sheet
D
All of the above
Question 5
In capital budgeting, a technique which is based upon discounted cash flow is classified as
A
net present value method
B
net future value method
C
net capital budgeting method
D
net equity budgeting method
Question 6
What is 'deemed exports' provisions applicable to?
A
Deemed export provision is applicable only to goods
B
Deemed export provision is applicable only to services
C
Deemed export provision is applicable both to goods and services
D
Deemed export provision is applicable when goods and services are supplied to SEZ units/ developers
Question 7
Accounting Standard 10 deals with accounting for----.
A
fixed assets
B
inventory
C
cash flow statement
D
none of these
Question 8
The basis of determining dearness allowance to employees in India is?
A
Consumer Price Index
B
Whole Sale Price Index
C
Retail Price Index
D
Retail Price Index
Question 9
Second step in developing operating budget is to
A
plan coordination
B
plan accounts
C
obtain information
D
coverage information
Question 10
..... is the rate at which commercial banks charge on their surplus funds with RBI.
A
Repo Rate
B
Reverse Repo Rate
C
Interest Rate
D
Bank Rate
Question 11
In expected rate of return for constant growth, an expected yield on capital must be
A
equal to zero
B
greater than expected growth rate
C
less than expected growth rate
D
equal to expected growth rate
Question 12
Which of the following is true in respect of events after the applicability of GST?
A
Proceedings under earlier law will be disposed of under the earlier law
B
Any default due to proceedings in the earlier law will be recovered in the earlier law
C
Proceedings under the earlier law will be disposed of under the new law
D
Any refund due to the proceedings will be admissible as input tax credit
Question 13
Whether a taxable person who has paid IGST on a transaction considered by him to be an inter-state supply, but which is subsequently held to be an intra-state supply is required to pay interest?
A
Yes
B
No
C
At proper officer's discretion
D
None of the above
Question 14
Which type of shareholders does not have voting rights?
A
Equity shareholders
B
Preference shareholders
C
Deferred shareholders
D
Ordinary shareholders
Question 15
In an accounting system, document which supports journal entries is classified as
A
cost document
B
priced document
C
source document
D
direct document
Question 16
If market interest rate rises above coupon rate then bond will be sold
A
equal to return rate
B
seasoned price
C
below its par value
D
above its par value
Question 17
Planning of financial aid to coordinate; what is to be done for implementation of plan is classified as
A
budget
B
batching
C
complexity
D
process
Question 18
Calculation of product cost, gathering information for planning and analyzing information for decisions making are features of
A
information accounting
B
cost accounting
C
analyzing accounts
D
marketing costs
Question 19
The ITC claimed by a Recipient of Supply will be provisionally allowed at first and the same will be confirmed subject to: (i) Possession of Tax Paying Document not expiring 1 year from the date of issue and Matching of the Invoices (ii) Receipt of Goods
A
i, ii & iii
B
i, ii & iv
C
ii, iii & iv
D
I, ii, iii & iv
Question 20
The elasticity of substitution between two perfect substitutions is
A
Zero
B
Greater than zero
C
Less than infinity
D
Infinity
There are 20 questions to complete.

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