Commerce online quiz 59

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
.is concerned with discovery of facts concerning a job and.is concerned with ascertaining the money value of a job.
A
Job description, job evaluation
B
job specifications, job evaluation
C
job analysis, job evaluation
D
none of these
Question 2
Indian Commercial Banks are categorized into:
A
Public sector Banks
B
Foreign Banks
C
Private Sector Banks
D
All of the above
Question 3
Which of the following methods of inventory valuation results in lower valuation of inventory and low income when inflation is on the rise?
A
LTFO
B
FIFO
C
Simple average method
D
Weighted average method
Question 4
Where the [Commissioner] is satisfied that audit in respect of such taxable person cannot be completed within three months from the date of commencement of audit the time limit can be extended:
A
by a further period not exceeding six months.
B
by a further period not exceeding six months.
C
by a further period not exceeding six months.
D
No extension of time limit is permissible.
Question 5
An inflation free rate of return and inflation premium are two components of
A
quoted rate
B
unquoted rate
C
steeper rate
D
portfolio rate
Question 6
If the job-worker is eligible to claim ITC on the goods received from the principal, is there a time limit within which such ITC shall be availed/claimed by the job-worker?
A
Within September 30 of following year
B
Filing the annual return for the period
C
Option (a) or (b), whichever is earlier
D
No time limit prescribed to claim such ITC
Question 7
According to Balance Sheet equation concept, the capital will be-
A
Capital = Liabilities-Assets
B
Capital = Fixed Assets-Current Assests
C
Capital = Assets-Liabilities
D
Capital = Assets + Liabilities
Question 8
Which of the following is not a key element of a business model?
A
value proposition
B
competitive advantage
C
market strategy
D
universal standards
Question 9
If direct material cost is $85000 and direct manufacturing labour is $25000, then prime cost would be
A
$13, 500
B
$55, 600
C
$60, 000
D
$110, 000
Question 10
The method in which issue prices of material is computed by dividing total purchase cost of material in stock with total quantity in stock.....
A
Simple average method
B
weighted average method
C
periodical average method
D
periodic simple average method
Question 11
Which function is basis of control?
A
Planning
B
Organizing
C
Controlling
D
staffing
Question 12
What will be the Amount of TDS in GST?
A
Full Tax Amount
B
SGST Tax Only
C
CGST Tax Only
D
1% of the Payment
Question 13
Which one of following statements are correct?
A
Voluntary registration is not possible under GST.
B
Voluntarily registered person not liable to comply with all the provisions of the GST.
C
A person may get himself registered voluntarily and shall comply with all the provisions of GST.
D
None of the above.
Question 14
The Industrial policy resolution was passed first in
A
1931
B
1947
C
1956
D
1999
Question 15
Call Number of a Book Means
A
Book Number
B
Class Number
C
Both A and B are true
D
None of the above
Question 16
Assertion (A): According to Accounting Standard-3 (revised) of the Institute of Chartered Accountants of India, a Cash Flow Statement should be divided into three heads-cash flow from investing activities and cash flows from financing activities. Reason
A
Both A and R are true and R is the correct explanation of A
B
Both A and R are true but R is NOT a correct explanation of A
C
A is true but R is false
D
A is false but R is true
Question 17
The virus that are attached with vb and java files are called.
A
Macro
B
Trojan horse
C
Script virus
D
None of the above
Question 18
By virtue of the amendment carried out by the Regional Rural Bank (Amendment) Act, 1987, the chairman of a Regional Rural Bank is to be appointed by
A
Central Government
B
State Government
C
Sponsor Bank in consultation with NABARD
D
Reserve Bank of India
Question 19
What is/are the consequence(s) of non-registration of partnership firm?
  1. It cannot sue any of its partners.
  2. Partners of an unregistered firm can file suits against each other.
  3. Partners can sue the firm to en
A
l only
B
2 only
C
3 only
D
None of these
Question 20
How many sellers are present in duopoly?
A
1
B
2
C
3
D
4
There are 20 questions to complete.

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