Commerce online quiz 42

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
A joint cost allocation method is based on relative value of total sales, at point of split off is classified as
A
sales value at split off method
B
joint costs at split off point method
C
joint products value at split off method
D
main product cost at split off method
Question 2
The number of partners in a partnership firm is-
A
Uncertain
B
Unlimited
C
Decided by partners
D
Limited
Question 3
The partial integration of agricultural income, is done to compute tax on
A
Agricultural income
B
non agricultural income
C
Both agricultural and non agricultural income
D
None of the above
Question 4
Which of the following is a nominal account?
A
Drawings account
B
Outstanding interest account
C
Salary account
D
Machinery account.
Question 5
Which of the following is not one of the top three online career service providers?
A
CareerBuilder
B
Monster
C
HotJobs
D
USAJobs
Question 6
The formula of EBIT =.....
A
Sales-Variable cost
B
Contribution-Fixed cost
C
Sales-Fixed cost
D
All the above
Question 7
..... is the first phase of accounting cycle
A
Identifying an economic event or transaction
B
Preparing Journal
C
Posting entries to Ledger accounts
D
Making decisions about business
Question 8
The formula for cost of debt is.....
A
kd=(1/2+f-p)/f+p
B
f+p
C
f-P
D
fxp
Question 9
Which of the following is an extractive industry?
A
Cattle breeding
B
Forest cultivation
C
Hunting
D
Flour mills
Question 10
Will a person having multiple registration in various states receive single registration on Migration
A
Separate Registration would have to be obtained on migration for each State even for a single PAN number
B
Centralised Registration will be obtained for each PAN number across all States.
C
Separate Registration would have to be surrendered and fresh registration is required to be obtained.
D
Single registration with all locations across India disclosed as additional place of business can be obtained
Question 11
Memorandum of Association contains.....
A
Objective clause
B
Name clause
C
Capital clause
D
All of the above
Question 12
A person who..... digital or electronic facility or platform for electronic commerce shall be considered as an ecommerce operator.
A
Owns
B
Operates
C
Manages
D
Any of the above
Question 13
Which of the following is the effect on net income if a business decreases its provision for bad debts?
A
It will increase net income
B
It will decrease net income
C
No effect
D
It will increase gross profit and net income
Question 14
Which of the following items of balance sheet are useful in evaluating a company's liquidity?
A
Current assets and other assets
B
Current liabilities and current assets
C
Current liabilities and plant and equipment
D
In current liabilities and other assets
Question 15
Which of the following is part of the four main types for e-commerce?
A
B2B
B
B2C
C
C2B
D
All of the above
Question 16
Which of the following is the normal balance of a rent expense account?
A
Credit balance
B
Cash balance
C
Overdraft
D
Debit balance
Question 17
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?
A
Direct Files
B
Sequential files
C
Both (A) & (B)
D
None of these
Question 18
The long run is a
A
Period of three years or longer
B
Period long enough to allow firms to change plant size and capacity
C
Period long enough to allow firm to make economic decisions
D
A period which affects larger than smaller firms
Question 19
A currency swap is refer to.....
A
A spot sale of currency combined with a forward repurchase of the same currency-as part of single transaction.
B
A forward sale of currency combined with a forward repurchase of the same currency-as part of a single transaction.
C
A forward sale of currency combined with a forward repurchase of the same currency-in two different transactions
D
All of these
Question 20
.....includes financial and cost accounting, tax planning and tax accounting.
A
Financial accounting
B
cost accounting
C
management accounting
D
none of these
There are 20 questions to complete.

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