Commerce online quiz 39

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The unutilized ITC in the electronic ITC Ledger will be allowed to a new entity on business as a whole transfer, merger, demerger, amalgamation and on lease if the transfer deed provides for:
A
Transfer of all the Assets of the Existing Business Concern
B
Transfer of all the Liabilities of the Existing Business Concern
C
Transfer of both Assets and Liabilities of the existing business concern including credit on Electronic Cash Ledger
D
Any of the Above
Question 2
Net profit after tax of Rs. 2, 00, 000 is Rs. 4, 00, 000. Share capital is Rs. 8, 00, 000 and revenue reserve is Rs. 2, 00, 000. What is rate of return on equity?
A
40%
B
50%
C
60%
D
75%
Question 3
The Order of the Utilisation of the SGST ITC Credit will be:
A
IGST OPT, CGST OPT and SGST OPT
B
CGST OPT, IGST OPT and SGST OPT
C
SGST OPT, IGST OPT and No Utilisation over CGST OPT
D
SGST OPT, CGST OPT and No Utilisation over IGST OPT
Question 4
The liability of partners in a firm is.....
A
Limited
B
Unlimited
C
Joint liability
D
Separate liability
Question 5
A firm encounters its 'shutdown point' when
A
Average total cost equals price at the profit-maximizing level of output
B
Average variable cost equals price at the profit-maximizing level of output
C
Average fixed cost equals price at the profit-maximizing level of output
D
Marginal cost equals price at the profit-maximizing level of output
Question 6
One of the consequences of non-registration of a partnership firm is that:
A
a partner cannot such the other partner to enforce a right arising from a contract
B
the partner of such a firm cannot sue third parties
C
third parties cannot sue the firm for claims exceeding Rs. 100
D
The official Assignee or Receiver will have no power on the property of the dissolved firm
Question 7
If budgeted indirect cost arte is $115 and budgeted cost allocation base is $830 per hour, then annual indirect cost (budgeted) will be
A
$93, 450
B
$94, 560
C
$96, 450
D
$95, 450
Question 8
An expected dividend yield is 5.5% and expected rate of return is 11.5% then constant growth rate would be
A
2.09%
B
-6.00%
C
17.50%
D
6.00%
Question 9
Working capital management is managing.....
A
short term assets and liabilities
B
long term assets
C
long terms liabilities
D
only short term assets
Question 10
What are the pre requisites for proper officer to pass assessment order under Section 63?
A
Period selected for assessment has to be within 5 years from the end of due date for filing annual return of relevant period.
B
Show cause notice has to be issued before passing assessment order.
C
Opportunity of being heard has to be given before passing assessment order.
D
All of the above.
Question 11
Labour related to manufacturing of product can be classified under
A
direct manufacturing labour costs
B
indirect manufacturing labour costs
C
work in process cost
D
finished costs
Question 12
Treasury bonds are exposed to additional risks that are included
A
reinvestment risk
B
interest rate risk
C
investment risk
D
Both A and B
Question 13
Material usage variance = standard price(.....)
A
Standard usage-actual usage
B
Standard unit price-actual unit price
C
Standard quantity
D
Actual quantity
Question 14
Stock Adjustment Account is debited with.and credited with..
A
Surplus, shortage of stock
B
shortage of stock, surplus
C
excess, loss
D
none of these
Question 15
Set of projects or set of investments usually maximize firm value is classified as
A
optimal capital budget
B
minimum capital budget
C
maximum capital budget
D
greater capital budget
Question 16
Variable cost increases with.....in output.
A
Increase
B
decrease
C
increase or decrease
D
none of these.
Question 17
Prepaid expenses appearing in trial balance will appear in.....
A
trading a/c
B
profit and loss a/c
C
balance sheet
D
prepaid exp. a/c
Question 18
Which of the following is a real account?
A
Drawings account
B
Outstanding rent account
C
Bank account
D
Closing stock account.
Question 19
When equilibrium price rises but equilibrium quantity remains unchanged, the cause is
A
Supply and demand both increase equally
B
Supply and demand both decrease equally
C
Supply decreases and demand increases
D
Supply increases and demand decreases
Question 20
Range of probability distribution with 99.74% lies within
A
(+ 3$sigma$ and-3$sigma$)
B
(+ 4$\sigma$ and-4$\sigma$)
C
(+ 1$\sigma$ and-1$\sigma$)
D
(+ 2$\sigma$ and-2$\sigma$)
There are 20 questions to complete.

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