Commerce online quiz 57

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Which of the following is affected by treatment of an accrued item in accounting?
A
Profit and Loss A/c only
B
Profit and Loss Appropriation A/c
C
Balance Sheet only
D
Profit and Loss A/c and Balance Sheet
Question 2
Which of the following is mandatory pre-condition in respect of downward price revision during transition period?
A
Recipient of credit note reduced his input tax credit
B
Supplier should revise earlier return and reduce tax liability
C
Supplier claims refund of downward revision
D
Recipient intimates his jurisdictional officer of such downward revisions
Question 3
Bonus share are not permitted unless the..... shares, if any, are made fully-paid.
A
partly paid
B
semi paid
C
fully paid
D
unpaid
Question 4
Contracts of export of goods and services against payment to be secured partly or fully beyond 90 days are treated as deferred payment exports. Which of the statements given above is/are correct?
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Question 5
Which method is suitable for large office?
A
Pigeon-hole system
B
Spike filing
C
Vertical filing
D
Horizontal filing
Question 6
Excess of debit over credit in the trading account means.....
A
gross loss
B
gross profit
C
cost of goods sold
D
none of these
Question 7
Cost of operating activity, facility or any cost object which usually shares by two or more than two users is classified as
A
bundled cost
B
common cost
C
stand-alone cost
D
incremental cost
Question 8
When the completion stage of the contract is more than half, the profit to be credited to Profit and Loss account will be equal to.....
A
1/3rd of Notional Profit x cash received Work certified
B
1/2 of Notional Profit x cash received Work certified
C
2/3rd of Notional profit x cash received Work certified
D
full Notional Profit.
Question 9
Internal Auditor can be removed by the?
A
Management
B
Shareholders
C
Statutory Auditor
D
Government
Question 10
OTCEI stands for.....
A
Over The Counter Exchange Of India
B
Over The Country Exchange Of India
C
Over The Comparison Exchange Of India
D
Over The Company Exchange Of India
Question 11
In Regression Analysis, if an observed cost value is 85 and disturbance error is 25 then predicted cost value will be
A
110
B
125
C
60
D
70
Question 12
The details submitted by the supplier in Form GSTR 1 are communicated to the registered taxable person in Returns
A
Form GSTR 1A on 17th of the succeeding month
B
Form GSTR 2A on 15th of the succeeding month
C
Form GSTR 2A after the due date of filing Form GSTR 1
D
Form GSTR 1A on 15th of the succeeding month
Question 13
Joint cost allocation method for joint products, which is based on achievable value is known as
A
joint products value at split off method
B
main product cost at split off method
C
Gross realizable value method
D
net realizable value method
Question 14
Expenses paid in advance is.....
A
assets
B
liabilities
C
profit
D
loss
Question 15
Which one is threat for E-commerce?
A
Trojan horse
B
firewall
C
encryption
D
None
Question 16
Which of the following is not factors of the demand variable, according to Philip Kotler?
A
Environment Variable
B
Competition Variable
C
Customer Variable
D
All of the above
Question 17
The tax invoice should be issued.....the date of supply of service:
A
Within 30 days from
B
Within 1 month from
C
Within 15 days from
D
On
Question 18
E-business can be defined as.....
A
the uninhibited flow of information and goods on the Web
B
the use of the Internet and the Web to transact business
C
digitally enabled transactions and processes within an organization
D
commercial transactions involving electronic goods
Question 19
Inventory turnover ratio = Cost of..during the period $\div$Cost of average inventory held during the period.
A
Inventory consumed
B
minimum inventory
C
maximum inventory
D
none of these
Question 20
In capital market line, risk of efficient portfolio is measured by its
A
standard deviation
B
variance
C
aggregate risk
D
ineffective risk
There are 20 questions to complete.

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