10000 MCQ /questions on commerce questions answers
A joint cost allocation method is based on relative value of total sales, at point of split off is classified as
sales value at split off method
joint costs at split off point method
joint products value at split off method
main product cost at split off method
The number of partners in a partnership firm is-
Decided by partners
The partial integration of agricultural income, is done to compute tax on
non agricultural income
Both agricultural and non agricultural income
None of the above
Which of the following is a nominal account?
Outstanding interest account
Which of the following is not one of the top three online career service providers?
The formula of EBIT =.....
All the above
..... is the first phase of accounting cycle
Identifying an economic event or transaction
Posting entries to Ledger accounts
Making decisions about business
The formula for cost of debt is.....
Which of the following is an extractive industry?
Will a person having multiple registration in various states receive single registration on Migration
Separate Registration would have to be obtained on migration for each State even for a single PAN number
Centralised Registration will be obtained for each PAN number across all States.
Separate Registration would have to be surrendered and fresh registration is required to be obtained.
Single registration with all locations across India disclosed as additional place of business can be obtained
Memorandum of Association contains.....
All of the above
A person who..... digital or electronic facility or platform for electronic commerce shall be considered as an ecommerce operator.
Any of the above
Which of the following is the effect on net income if a business decreases its provision for bad debts?
It will increase net income
It will decrease net income
It will increase gross profit and net income
Which of the following items of balance sheet are useful in evaluating a company's liquidity?
Current assets and other assets
Current liabilities and current assets
Current liabilities and plant and equipment
In current liabilities and other assets
Which of the following is part of the four main types for e-commerce?
All of the above
Which of the following is the normal balance of a rent expense account?
In which files, the records organised in such a way that it is possible for the computer to directly locate the key of the desired record without having to search through a sequence of other records?
Both (A) & (B)
None of these
The long run is a
Period of three years or longer
Period long enough to allow firms to change plant size and capacity
Period long enough to allow firm to make economic decisions
A period which affects larger than smaller firms
A currency swap is refer to.....
A spot sale of currency combined with a forward repurchase of the same currency-as part of single transaction.
A forward sale of currency combined with a forward repurchase of the same currency-as part of a single transaction.
A forward sale of currency combined with a forward repurchase of the same currency-in two different transactions
All of these
.....includes financial and cost accounting, tax planning and tax accounting.
none of these
There are 20 questions to complete.