Commerce online quiz 3

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
In stand-alone revenue-allocation method, type of weights available for this method is
A
selling prices as weight
B
unit costs as weights
C
physical units as weights
D
all of above
Question 2
In case of discontinuance of the AOP, the liability of the member exists in respect of the tax dues imposed.....
A
Prior to the date of discontinuance
B
After the date of discontinuance
C
Both prior and after the date of discontinuance
D
None of the above
Question 3
Inventory turnover in days = Days during the period $\div$.....
A
Inventory turnover ratio
B
material consumed during the period
C
cost of average stock during the period
D
none of these
Question 4
The time limit to proper officer to pass final order after accepting the refund application is-
A
Within sixty days from the date of receipt of application.
B
Within eighty days from the date of receipt of application.
C
Within ninety days from the date of receipt of application.
D
Within thirty days from the date of receipt of application.
Question 5
Under Section 275 of the Companies' Act, 1956 a person can become director in public company of not more than-
A
5 companies
B
10 companies
C
15 companies
D
20 companies
Question 5 Explanation: 
No person, after the commencement of this Act, shall hold office as a director, including any alternate directorship, in more than twenty companies at the same time: Provided that the maximum number of public companies in which a person can be. appointed as a director shall not exceed ten.
Question 6
Coefficient of variation is used to identify an effect of
A
risk
B
return
C
deviation
D
Both A and B
Question 7
A person having....business verticals in a State....obtain a separate registration for each business vertical.
A
Single, shall
B
Multiple, shall
C
Multiple, may
D
Single, May
Question 8
Variable costs change.....with change in output.
A
Proportionately
B
Inversely
C
Disproportionately
D
Sometimes
Question 9
Market in which bonds are traded over-the-counter than in an organized exchange is classified as
A
organized markets
B
trade markets
C
counter markets
D
bond markets
Question 10
Value of stock is Rs 900 and required rate of return is 30% then preferred dividend will be
A
Rs 270.00
B
Rs 27, 000.00
C
Rs 90.00
D
Rs 90.00
Question 11
A taxable person shall not be entitled to take input tax credit in respect of any goods services to him after the expiry of..... from the date of tax invoice related to such supply?
A
One month
B
Six months
C
One year
D
Two years
Question 12
Acceptance of deposits by non-banking financial companies is regulated by RBI under:
A
Non-banking financial companies acceptance of public deposits (Revenue Bank) directions 1998
B
Non-banking financial companies acceptance of government deposits (Revenue Bank) directions, 1998
C
Non-banking financial companies acceptance of public deposits (Revenue Bank) directions, 1998
D
Non-banking financial companies acceptance of deposits money lenders (RevenueBank) directions, 1998
Question 13
Costing and cost accounting are...
A
not related at all
B
one and the same
C
Not the same
D
none of these.
Question 14
In labour oriented manufacturing industry which method of overhead absorption is suitable?
A
Direct material cost method
B
Prime cost method
C
Labour hour method
D
Machine hour method
Question 15
Which of the following will be excluded from the computation of 'aggregate turnover'?
A
Value of Taxable supplies
B
Value of Exempt Supplies
C
Non-taxable supplies
D
Value of inward supplies on which tax is paid on reverse charge basis
Question 16
Volume variance arises because of:
A
Increase in overhead rate per hour
B
Decrease in overhead rate per hour
C
Increase or decrease in actual output as compared to the budgeted output.
D
Difference in budgeted overheads and actual overheads.
Question 17
Discriminating monopoly implies that the monopolist charges different prices for its commodity
A
From different groups of consumers
B
For different uses
C
At different places
D
Any of the above
Question 18
Creating multiple versions of information goods and selling essentially the same product to different market segments at different prices is called.....
A
versioning
B
bundling
C
transactive content
D
price discrimination
Question 19
Characteristic of corporation that it can continue its work even owners are decreased can be classified as
A
limited life
B
unlimited life
C
corporate life
D
deceased partnership
Question 20
The order u/s 64 may be withdrawn:
A
On an application made by taxable person,
B
if the Additional/Joint Commissioner considers that such order is erroneous.
C
Either (a) or (b)
D
The order passed u/s 64 cannot be withdrawn.
There are 20 questions to complete.

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