Commerce online quiz 295

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।)
The main objective of controlling is to-
A
Punish the guilty person
B
Ensure that performance is as per planning
C
Maintain discipline
D
Fix responsibility of subordinates
Question 2 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Suppose one dealer who was not liable to get registered in the earlier law or a manufacturer of the exempted goods became taxable under GST.How the tax element involved in his raw material stock or semi-finished goods or finished goods on the appointed d
A
Refunded under earlier laws
B
Allowed as ITC in GST
C
Refunded under GST law
D
No ITC Credit
Question 3 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which method of costing is best suited for interior decoration.
A
Contract accounting
B
Operating costing
C
Process costing
D
Job costing
Question 4 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Economic life of an enterprise is split into the periodic interval as per..... concept
A
Matching
B
Money measurement
C
Periodicity
D
Accrual
Question 5 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which is the first bank to introduce ATM in India in the year 1987?
A
SBI
B
Bank of Baroda
C
HSBC
D
NABARD
Question 6 (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 an example of a company incorporated by a Special Act of Parliament?
A
Life insurance Corporation of India
B
Indian Oil Corporation
C
State Trading Corporation of India
D
Bharat Heavy Electricals Limited
Question 7 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which of the following is a commonly used base to create the provision for doubtful debts?
A
Total purchases
B
Total credit sales
C
Total current assets
D
Total current liabilities
Question 8 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The annual return shall be filed by the registered taxable person (other than dealers paying tax under section 10) in form
A
GSTR 7
B
GSTR 9
C
GSTR 9A
D
GSTR 10
Question 9 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The concept of present value is based on the
A
Principle of compound
B
Principle of discounting
C
Both (A) and (B)
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।)
Can principal take input tax credit on the inputs and/or capital goods sent directly to jobworker?
A
Yes
B
No
C
Yes subject to section 143
D
ITC on capital goods sent directly to job-worker's premise is not eligible unless the same is received in the premises of the principal
Question 11 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Under applied or over applied factory overhead should be
A
Carried forward to next year
B
shown as an extraordinary item
C
written off
D
apportioned among cost of goods sold and applicable to inventory
Question 12 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Economic problems arise because
A
Wants are unlimited
B
Resources are scarce
C
Scare resources have alternative uses
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।)
Activity Ratio =
A
Number of actual working days in a period x 100 Number of working days in the budget period
B
Actual hours worked x 100 Budgeted hours
C
Standard hours for actual production x 100 Actual hours worked
D
Standard hours for actual production x 100 Budgeted standard hours
Question 14 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
The value of SDR is
A
equivalent to one US dollar
B
based on basket of five currencies
C
average of the value of US dollar and Euro
D
based on value of gold
Question 15 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
In GST, the departmental audit should be sanctioned only on the basis of:
A
Risk Profile of the dealer
B
Application of the Proper Officer
C
Based on Random Selection
D
Any of the Above
Question 16 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Which of the following asset is not subject to depreciation
A
Plant & Machinery
B
Land
C
Loose tools
D
Furniture
Question 17 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
In activity based costing method implementation, an output unit level costs are classified as
A
indirect costs
B
direct cost
C
labour cost
D
raw material cost
Question 18 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
In which of the following sections of a balance sheet are "Inventories" listed?
A
Current assets
B
Property, plant and equipment, at cost
C
Current liabilities
Question 19 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
Recovery of amount payable by a defaulter can be made from,
A
Customer
B
Bank
C
Post Office
D
All of the above
Question 20 (Click on any option to know correct answer. सही उत्तर जानने के लिए किसी भी choice पर क्लिक करें।)
General office expenses are charged to which of the following head?
A
Administrative expenses
B
Marketing expenses
C
Selling expenses
D
Financial expenses
There are 20 questions to complete.

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