Commerce online quiz 335

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
If residual error is 51 and predicted cost value is 37, then observed cost value will be
A
14
B
88
C
24
D
68
Question 2
Dividend and interest are.....
A
synonymous terms
B
different from each other
C
debited to profit and loss account
D
divisible profits
Question 3
The quorum required for a meeting of the GST Council will be
A
1/2 of the members
B
2/3 rd of the members
C
1/3 rd of the members
D
3/4th of the members
Question 4
Direct cost incurred can be identified with.....
A
each department
B
each unit of output
C
each month
D
each executive
Question 5
Which one of the following securities cannot be issued by a Public Limited Company in India?
A
Participating preference shares
B
Redeemable preference shares
C
Deferred shares
D
Debentures.
Question 6
Which statement is true about financial management?
A
An option is a claim without any liability.
B
The wealth of a firm is defined as the market price of the firm's stock.
C
The maximisation of profit is often considered as an implied objective of a firm.
D
All of the above.
Question 7
Balance sheet, in which all costs of product that must be considered as its assets, is said to be
A
factory overhead costs
B
manufacturing overhead costs
C
Inventoriable costs
D
finished costs
Question 8
Outstanding expenditure is a..... account.
A
nominal
B
personal
C
real
D
liability
Question 9
Which of the following is not a horizontal portal?
A
AOL
B
Yahoo
C
Sailnet
D
MSN/Windows Live
Question 10
Which among the following has the function of recommending Minimum Support Prices for various commodities to teh Government?
A
National Farmers Commission
B
Agriculture Cost & Price Commission
C
Central Statistical Organization
D
Department of Agriculture
Question 11
Excess working capital results in.....
A
Block of cash
B
Loosing interests
C
Lack of production
D
Lack of smooth flow of production
Question 12
Right side of balance sheet states the
A
appreciated earnings
B
liabilities
C
assets
D
stocks earnings
Question 13
Payment of rent expenses is recorded on which side of cash book?
A
Receipts
B
Payments
C
Income
D
Expense
Question 14
In calculation of net cash flow, depreciation and amortization are treated as
A
current liabilities
B
income expenses
C
non-cash revenues
D
non-cash charges
Question 15
The Unadjusted VAT Credit under earlier law will be transferred and credited to:
A
IGST ITC
B
CGST ITC
C
SGST ITC
D
Any of the Above
Question 16
What are the factors differentiating Composite Supply & Mixed Supply CGST Act 2017?
A
Nature of bundling i.e. artificial or natural
B
Existence of Principal Supply
C
Both of the above
D
None of the above
Question 17
Type of interest rates consist of
A
nominal rates
B
periodic rates
C
effective annual rates
D
all of above
Question 18
What is/are the condition for availing ITC on stock related to non-taxable period by a dealer who was not liable to get registered in the earlier law or a manufacturer of the exempted goods in the earlier law?
  1. Su
A
i, ii & iii
B
i, ii & iv
C
ii, iii & iv
D
I, ii, iii & iv
Question 19
The primary difference between a fixed budget and a variable(flexible) budget is that a fixed budget:
A
Includes only fixed costs, while a variable budget includes only variable costs.
B
Is concerned only with future acquisitions of fixed assets, while a variable budget is concerned with expenses which vary with sales.
C
Cannot be changed after the period begins, while a variable budget can be changed after the period begins.
D
Is a plan for a single level of sales(or other measure of activity), while a variable budget consists of several plans, one for each of several levels of sales (or other measure of activity)
Question 20
A registered taxable person is liable to show his GSTN number:
A
Tax Invoice
B
Name Board of Principal Place and additional place of business
C
Both A) and B)
D
None of the Above
There are 20 questions to complete.

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