Commerce online quiz 32

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Identify the factor which generally keeps the price-elasticity of demand for a good high.
A
Its very high price
B
Its very low price
C
Large number of substitutes
D
None of the above
Question 2
Who is generally regarded as the founder of the 'Classical School'?
A
David Ricardo
B
Adam Smith
C
T.R.Malthus
D
J.S.Mill
Question 3
Profits
A
Are lower in the long run than in the short run
B
Can be negative
C
Are less in perfect competition than in monopoly
D
All of the above
Question 4
An asset is purchased for Rs.50, 000 on which depreciation is provided annually according to the straight line method. the useful life is 10 years and the scrap value is 10, 000. The rate of depreciation is
A
18%
B
8%
C
12%
D
10%
Question 5
An entry which has more than one debit and or credit is called.....
A
single
B
multiple
C
compound
D
none of these
Question 6
The offer curves introduced by Alfred Marshall, helps us to understand how the..... is established in international trade.
A
Terms of trade
B
Equilibrium price ratio
C
Exchange rate
D
Satisfaction level
Question 7
When one or both aspects of a transaction are recorded in the wrong class or category of account, it is called
A
Error of principle
B
Error of omission
C
Error of commission
D
Error of original entry
Question 8
If interest rates rose, you would expect..... to also rise.
A
business risk
B
financial risk
C
liquidity risk
D
inflation risk
Question 9
Budgeted total direct labour cost is divided with budgeted total direct labour to calculate
A
budgeted indirect labour cost rate
B
expected direct labour cost rate
C
budgeted direct labour cost rate
D
expected indirect labour cost rate
Question 10
What is Marginal Standing Facility (MSF)?
A
MSF rate is the rate at which banks lodge funds overnight with RBI buying approved government securities.
B
MSF rate is the rate at which banks borrow funds overnight from other banks against approved government securities.
C
MSF rate is the rate at which banks borrow funds overnight from RBI against approved government securities.
D
MSF rate is the minimum rate at which banks lend to the borrowers.
Question 11
The capital that is consumed by an economy or a firm in the production process is known as
A
Capital loss
B
Production cost
C
Dead-weight loss
D
Depreciation
Question 12
The bond that does not pay any interest and issued at a price lower than its reimbursement value is called as
A
Zero coupon bond
B
Coupon bond
C
Euro bond
D
Domestic bond
Question 13
What action should be taken by an assessee to satisfy with anti-profiteering provision?
A
Reduce rate of tax on any supply of goods or service, if such assessee has got the benefit of such reduced rate
B
Pass on the benefit of input tax credit, if such assessee has got such input tax credit
C
Both (a) and (b)
D
None of the above
Question 14
When price elasticity of demand for normal goods is calculated, the value is always
A
Positive
B
Negative
C
Constant
D
Greater than 1
Question 15
Bond that has been issued in very recent timing is classified as
A
mature issue
B
earning issue
C
new issue
D
recent issue
Question 16
Success of cost reduction initiatives are evaluated by accurate
A
cyclical factors
B
indexed technique
C
price estimation
D
cost estimation
Question 17
If median = 27 and Mean = 30, Mode will be-
A
20
B
21
C
22
D
23
Question 18
Cost influences by responsibility center manager who is considered as
A
manager cost
B
influential cost
C
center cost
D
controllable cost
Question 19
The inputs in stock should be used or intended to be used for making:
A
Taxable supplies
B
Exempt supplies
C
Either taxable or exempt supplies
D
Both taxable and exempt supplies
Question 20
Type of stock in which dividends are tied to any particular part of a firm is classified as
A
dividend stock
B
firm part stock
C
tied stock
D
tracking stock
There are 20 questions to complete.

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