Commerce online quiz 33

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Net realizable value is added into separate costs to calculate
A
split off costs
B
final cost of direct labour
C
final sales
D
final costs
Question 2
Which of the following instruments is not a negotiable instrument?
A
Bearer cheque
B
Promissory note
C
Crossed cheque
D
Bills of exchange
Question 3
The costing method which can be used in industry where the product pass through different processes is known as.....
A
job costing
B
operating costing
C
batch costing
D
process costing
Question 4
Balance sheets are prepared
A
Daily
B
Weekly
C
Monthly
D
Annually
Question 5
Which of the following is not true in respect of planning?
A
Planning is an intellectual activity
B
Planning function is not performed by the top management
C
Planning is related to objectives
D
Planning is forward-looking
Question 6
When RBI reduce the CRR it results into:
A
Decrease in deposit
B
Increase in deposit
C
Increase in lendable resources
D
Decrease in lendable resources
Question 7
Received Rs. 5, 000 from Ram but credited his account by Rs. 50, 000 is?
A
Error of Omission
B
Error of Principles
C
Compensation Error
D
None of these
Question 8
Management audit is:
A
an independent appraisal of the total management process
B
a statutory requirement
C
an investigation into the conduct of direction
D
an independent appraisal of competitiveness of business
Question 9
ITC in relation to CGST means.....
A
SGST and CGST
B
SGST and IGST
C
IGST and CGST
D
IGST, SGST and CGST
Question 10
All of the following are characteristics of a social network except.....
A
involves a group of people
B
features shared social interaction
C
always feature shared goals and purposes
D
common ties among members
Question 11
Periodic rate if it is multiplied with per year number of compounding periods is called
A
extrinsic rate of return
B
intrinsic rate of return
C
annual rate of return
D
nominal annual rate
Question 12
Cost which remains unchanged, in proportion to level total volume of production is classified as
A
total cost
B
infeasible cost
C
fixed cost
D
variable cost
Question 13
When it is certain that a debt won't be recovered. Which of the following is correct?
A
Provision for bad debt is created
B
Account receivable is credited
C
Bad debts is credited
D
Sales is debited
Question 14
The famous book 'General and Industrial Management' was written by
A
Oliver Sheldon
B
Henri Fayol
C
Elton Mayo
D
Maslow
Question 15
If a turnover during a financial year exceeds the prescribed limit, then accounts get audited by
A
Chartered Accountant
B
Cost Accountant
C
Either (a) or (b)
D
All of the above
Question 16
As per the guidelines issued by Department of Industrial Policy and Promotion (DIPP) in February 2009, any company with more than what fraction of foreign equity should be considered as a foreign company?
A
51%
B
75%
C
61%
D
90%
Question 17
Broad's average use to assign cost of revenue to cost objects will be classified as
A
refined costing system
B
refined selling system
C
undefined costing
D
defined selling system
Question 18
If market interest rates are expected to rise, you would expect.....
A
bond prices to fall more than stock prices
B
bond prices to rise more than stock prices
C
stock prices to fall more than bond prices
D
stock prices to rise and bond prices to fall.
Question 19
The marketplace for auction sites is best described as.....
A
many sites attaining similar levels of profitability
B
easy to enter due to minimal barriers
C
populated mostly with small, thriving specialty sites
D
dominated by a handful of sites with established networks
Question 20
Recording of capital contributed by the owner as liability ensures the adherence of principle of-
A
Consistency
B
Going concern
C
Separate entity
D
Materiality
There are 20 questions to complete.

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