Commerce online quiz 9

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The assets which are purchased to improve profitability in the business not for the purpose of resale, are called?
A
Intangible assets
B
Current assets
C
Fixed assets
D
Wasting assets
Question 2
In case of joint products, the main objective of accounting of the cost is to apportion the joint costs incurred up to the split off point. For cost apportionment one company has chosen Physical Quantity Method. Three joint products 'A', 'B' and 'C' are
A
Rs 1, 20, 000
B
Rs 60, 000
C
Rs 1, 80, 000
D
None of the these
Question 3
An expected future cost which diverges in unconventional course of action is known's as
A
partial cost
B
total cost
C
irrelevant cost
D
relevant cost
Question 4
The Items which will be taxable both under current Central Excise Law and new GST even after the implementation of the GST Act.
A
Motor Spirit
B
Alcoholic Liquor for Human Consumption
C
Tobacco and Tobacco Products
D
Natural Gas
Question 5
On which one of the following items, GST will be levied;
A
Aviation fuel
B
Liquefied petroleum Gas
C
Natural Gas
D
High Speed Diesel oil
Question 6
Net profit is computed in which of the following?
A
Balance sheet
B
Income statement
C
Cash flow statement
D
Statement of changes in equity
Question 7
Time wages are paid on the basis of.....
A
actual time
B
standard time
C
time saved
D
overtime
Question 8
Which products are people most likely to be more uncomfortable buying on the Internet?
A
Books
B
Furniture
C
Movies
D
All of the above
Question 9
Which of the following is a current liability
A
five year bank loan
B
workmen compensation fund,
C
bank overdraft,
D
dividend equalisation reserve.
Question 10
For credit to be allowable, invoices should not be issued earlier than:
A
Three months before the appointed day
B
Six months before the appointed day
C
Nine months before the appointed day
D
Twelve months before the appointed day
Question 11
Which one of the following branches of accounting primarily deals with processing and presenting of accounting data for internal use?
A
Financial accounting
B
Tax accounting
C
Management accounting
D
Inflation accounting
Question 12
Advance payment of tax is in the nature of?
A
Asset
B
Liability
C
Prepaid Expenses
D
Revenue expenses
Question 13
The following item is shown in profit and loss appropriation account.
A
Dividends declared
B
Discount of issue of shares
C
Non-operating expenses
D
Current assets
Question 14
Which one is more appropriate for cost of retained earning?
A
Weighted Average cost of capital
B
Opportunity cost to the firm
C
Expected rate of return by the investor
D
None of the above
Question 15
Which of the following statements are true? (a)Unclaimed dividend is an asset of a company. (b)Dividend declared between two annual general meetings is called final dividend. (c) A company can distribute interim dividend and final dividend in the same fi
A
(b) and (c)
B
(a), (b) and (c)
C
(a) and (c)
D
(a) and (b)
Question 16
Which of the following is known as the base for preparing trial balance?
A
Journal
B
Cash account
C
Ledger account
D
Balance Sheet
Question 17
What Web server functionality allows it verify usernames and passwords and process certificates and encryption information?
A
Processing of HTTP requests
B
File Transfer Protocol
C
Data capture
D
Security services
Question 18
Factor used to predict dependent variable is named as
A
independent variable
B
function variable
C
evaluation variable
D
estimation variable
Question 19
The equilibrium firm concept has been given by?
A
Pigou
B
Marshall
C
Robinson
D
J. K. Mehta
Question 20
'Object Clause' of a Memorandum of Association can be altered by-
A
Ordinary resolution
B
Special resolution
C
Special resolution and confirmation by Registrar of Companies
D
Special resolution and confirmation by Company Law Board
There are 20 questions to complete.

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