Commerce online quiz 83

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
First Indian IMGC has set up by NGH (National Housing Bank), IFC (International Finance Corporation), US based Gen worth and ADB (Asian Development Bank). IMGC stands for?
A
Indian Mortgage Guarantee Company
B
Indian Money Guarantee Company
C
Indian Maturity Guarantee Corporation
D
International Money Guarantee Company
Question 2
Financial statements and budget plans of some companies are also called
A
cost statement
B
preformed statement
C
sales statement
D
market statement
Question 3
Which of the following will not be considered as eligible duties and taxes?
A
Additional duty leviable u/s 3(5) of the CTA
B
Basic Customs Duty
C
Central Excise
D
Service Tax
Question 4
Variable cost per unit.
A
varies with the level of output
B
remains constant irrespective of the level of output
C
changes with the growth of the firm
D
does not change with volume of production
Question 5
Consider the following documents?
  1. Audit Report
  2. Audit Note-book
  3. Audit Programme
  4. Audit Files
The correct sequence in which the Auditor prepares these documents is?
A
(3) (2) (4) (1)
B
(4) (3) (1) (2)
C
(3) (1) (4) (2)
D
(1) (2) (3) (4)
Question 6
According to the Accounting Standard (AS)-2, the inventory is to be valued at which one of the following?
A
Actual cost or sales value, whichever is lower
B
Historical cost
C
Net realizable value
D
Historical cost or net realizable value, whichever is lower
Question 7
Planning function of management is performed by-
A
Top management
B
Middle management
C
Lower management
D
All of the above
Question 8
Who can file a criminal case against the drawer of a dishonoured cheque?
A
The payee
B
The holder in due course
C
Both of the above
D
The paying banker
Question 9
Is it mandatory that 'reasons to believe' must exist before issuing authorization for Inspection or Search and Seizure by the proper officer?
A
Yes
B
No
C
Not mandatory
D
None of the above
Question 10
A skillful method of providing means mechanism and structural elements to. streamline organizational work is known as.....
A
Strategic planning
B
Role analysis
C
Work culture
D
Autonomous planning
Question 11
An expected rate of return is subtracted from capital gains yield to calculate
A
expected dividend yield
B
capital earning
C
casual growth
D
specialized growth rate
Question 12
The permissible time period for the rectification of error apparent on the face of record in the case of Adjudicating Authority and FAA will be:
A
Within 1 Months of the Order
B
Within 2 Months of the Order
C
Within 3 Months of the Order
D
Within 6 Months of the Order
Question 13
Conversion cost is subtracted from direct manufacturing labour cost is to calculate the
A
direct overheads
B
overhead costs
C
factory overhead
D
manufacturing overhead cost
Question 14
The expenses relating to a particular process is.....
A
debited to that process a/c
B
credited to that process a/c
C
debited to costing profit and loss a/c
D
debited to profit and loss a/c
Question 15
Financial support given to libraries are of two types-Recurring and
A
Ad-hoc
B
Endowments
C
Annual
D
Non-recurring
Question 16
'Table A' is an alternative to.....
A
Prospectus
B
Articles of Association
C
Memorandum of Association
D
None of the above
Question 17
Shareholder wealth in a firm is represented by.....
A
the number of people employed in the firm
B
the book value of the firm's assets less the book value of its liabilities
C
the amount of salary paid to its employees
D
the market price per share of the firms common stock
Question 18
Number of methods available for calculation of Labour turnover is.....
A
two
B
three
C
four
D
five
Question 19
Cost accounting disclose.
A
The Financial position
B
profit/loss of a product, job or service
C
effect and impact of cost on business
D
none of these
Question 20
The arbitrary process is the behavioral foundation for the.....
A
MM approach
B
XX approach
C
Gorder approach
D
Miller approach
There are 20 questions to complete.

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