Commerce online quiz 53

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
..... Accounting is not only a positive science but also a normative science because it includes techniques of budgetary control and standard costing.
A
Financial
B
Cost
C
Both (A) and (B)
D
none of these
Question 2
Material Usage Variance=Material Mix Variance +..
A
Material Yield Variance
B
Material cost variance
C
Material price variance
D
Material quantity variance
Question 3
The amount of the temporary working capital.....
A
keeps on fluctuating from time to time
B
remains constant for all times
C
financed through long term services
D
none of the above.
Question 4
In 'Direction' who is given importance?
A
To machines
B
To paper work
C
To man
D
To production
Question 5
Financial statements mainly help in
A
Assumption of economic events
B
Anticipation of economic events
C
Recording of economic events
D
Communication of economic events
Question 6
If the current ratio is 2, current assests are worth Rs. 1, 600, if current ratio is not allowed to fall below 1.5, how much additional can be borrowed by the company on the short term basis?
A
Rs. 400
B
Rs. 600
C
Rs. 2, 733
D
Rs. 800
Question 7
Amortization of unidentified intangible assets is in terms of
A
Conservatism concept
B
Materiality concept
C
Matching concept
D
Cost concept
Question 8
Payment of LIC premium of the proprietor is debited to
A
Capital account
B
Drawings account
C
LIC premium account
D
None of these
Question 9
Markets dealing with residential loans, industry real estate loans, agricultural loans and commercial loans are called
A
residential markets
B
mortgage markets
C
agriculture markets
D
commercial markets
Question 10
Elements of marketing planning is
A
It involves an analysis of past events and projection of future events
B
In envisages determination of the future course of marketing action
C
Marketing planning is a managerial function
D
All of the above
Question 11
Betas that are constantly adjusted to reflect changes in capital structure and firms operations are classified as
A
fundamental structure
B
fundamental adjustment
C
fundamental betas
D
fundamental operations
Question 12
A perfect market is one in which.....
A
One firm develops an advantage based on a factor of production that other firms cannot purchase
B
One participant in the market has more resources than the others
C
there are no competitive advantages or asymmetries because all firms have equal access to all the factors to production
D
competition is at a minimum, as each niche market within an industry is served by the company with the greatest competitive advantage
Question 13
Line which uses to join observations with lower and highest values of cost driver is called
A
straight line
B
curved line
C
horizontal line
D
vertical line
Question 14
The default rule of place of supply of services made to a registered person shall be.....?
A
Location of such person
B
Location of service provider
C
Location where service is provided
D
Location where agreement for rendering of service is executed
Question 15
As per Sec.139(1), a company shall have to file return of income
A
When its total income exceeds Rs. 50, 000
B
When its total income exceeds the maximum amount which is not chargeable to income tax
C
In all cases irrespective of any income or loss earned by it.
D
None of the above
Question 16
Recommendations of the 14th Finance Commission have become operational for the period
A
2015-20
B
2014-19
C
2010-15
D
2016-21
Question 17
.....arises where the actual process loss is less than the normal predetermined process loss.
A
Normal loss
B
abnormal loss
C
abnormal gain
D
none of these
Question 18
Input tax credit in relation to SGST means:
A
SGST and CGST
B
SGST and IGST
C
IGST and CGST
D
IGST, SGST and CGST
Question 19
Which form is to be used for registration?
A
Form GSTR-1A
B
Form GSTR-2
C
Form GST REG-01
D
Form GST REG
Question 20
The partnership entity is.....
A
legal entity
B
legal entity and accountable entity
C
neither entity nor accountable entity
D
group of individuals without legal status
There are 20 questions to complete.

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