Commerce online quiz 64

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
----states that assets equal liabilities plus capital.
A
accounting equation
B
financial equation
C
statements
D
none of these
Question 2
Promoter is a person who.....
A
takes part in the incorporation of a company
B
is a director
C
is a relative of the managing director
D
works to publicity to the company
Question 3
Law of substitution is another name for law of
A
Law of diminishing MU
B
Law of Equi-MU
C
Law of demand
D
Satisfaction
Question 4
What is the rate applicable under CGST to a registered person opting to taxes under composition scheme, not being a manufacturer or a hotelier?
A
1%
B
2.50%
C
0.5%
D
None of the above
Question 5
..... budgeting does not take into account what happened in the past but emphasizes on current activities.
A
Formula
B
Performance
C
Programme
D
Zero-base
Question 6
Raju has a capital of Rs. 60, 000 on 31-12-09. During the year, he has made a profit of Rs. 24, 000. If his drawings had amounted to Rs.18, 000, his capital on 01-01-09 will be
A
Rs. 72, 000
B
Rs. 54, 000
C
Rs. 36, 000
D
Rs. 18, 000
Question 7
Whether GST compliance rating would be placed in public domain?
A
Yes-rating would be available to general public
B
No-rating would not be available to general public
C
Rating disclosed only at the time of entering into transaction
D
Rating disclosed only to person to whom the compliance rating belongs
Question 8
Inventory turnover in days = Days during the period $\div$..
A
Inventory turnover ratio
B
material consumed during the period
C
cost of average stock during the period
D
none of these
Question 9
Match List-I (Document) with List-II (Where used) and select the correct answer: \begin{table}[H]\centering\begin{tabular}{|c|c|}\hline List-I & List-II \\\hline A. Shipping Bill & 1. To certify the country of origin of goods\\\hline B. Bill of Lading &
A
$A-2, B-3, C-4, D-1$
B
$A-2, B-3, C-1, D-4$
C
$A-3, B-2, C-1, D-4$
D
$A-3, B-2, C-4, D-1$
Question 10
Cost of depreciation fund computed as
A
Long term loan capital
B
Dividend
C
Short term loan capital
D
Profit
Question 11
The other name of ATM using by many banking agencies in the world is?
A
Automated Banking Machine
B
Cash Point
C
Cash Pick
D
All of the above
Question 12
Patents accounts are
A
Secured loan account
B
Nominal account
C
Real account
D
Debtors account
Question 13
The amount of money owed by a business to outsiders is known as.....
A
assets
B
liabilities
C
profit
D
loss
Question 14
Which of the following is not considered as Research & Development costs?
A
Testing in search for product alternatives
B
Legal work on patent application
C
Modification of design of a process
D
Searching for application of new research findings
Question 15
The loss which arise in manufacturing activity on account of inherent nature of the product is.....
A
normal loss
B
abnormal loss
C
net loss
D
gross loss
Question 16
The Markowitz model identifies the efficient set of portfolios, which offers the.....
A
highest return for any given level of risk or the lowest risk for any given level of return
B
least-risk portfolio for a conservative, middle-aged investor
C
long-run approach to wealth accumulation for a young investor
D
risk-free alternative for risk-averse investors
Question 17
A firm's average total cost of production is Rs.300 at 5 units of output and Rs.320 at 6 units of output. The marginal cost of producing the 6th unit is
A
Rs.20
B
Rs.120
C
Rs.320
D
Rs.420
Question 18
Trial Balance is commonly prepared
A
Frequently during the year
B
At the end of an accounting period
C
At the end of a month
D
At the end of a year
Question 19
Dividends are usually paid as a percentage of
A
Net profit
B
Authorized share capital
C
Called up capital
D
Paid up capital
Question 20
Who will be the authority for filing further appeal against the Revision Order of the SGST Commissioner?
A
Tribunal
B
High Court
C
Supreme Court
D
Any of the above in the order of (A), (B) and (C)
There are 20 questions to complete.

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