Commerce online quiz 96

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The details of every credit note relating to outward supplies furnished by the registered taxable person shall be matched
A
With corresponding reduction in claim for input tax credit by the corresponding taxable person in his valid return for the same tax period or any subsequent tax period.
B
For duplication of claims for reduction in the output tax liability
C
All of the above
D
None of the above
Question 2
In GST IPT will be allowed only on the basis of Matching Principles. It allows IPT on Manual Basis only in the case of:
A
ISD
B
New Registrants who had crossed taxable limits even before getting GSTIN due to delay from the part of the department
C
Job Worker
D
Exporter
Question 3
Technologies that help enhance resolution of e-book reader display screens are known as.....
A
high-res pixel formatting
B
screen resolution technologies
C
sub-screen smoothing technologies
D
sub-pixel display technologies
Question 4
After re-issue of forfeited shares the balance of forfeited share account is transferred to-
A
General Reserve
B
Profit K: Loss A/c
C
Capital Reserve
D
None of these
Question 5
Which method of costing can be used in furniture manufacture industry?
A
Job costing
B
Contract costing
C
Process costing
D
Specific order costing
Question 6
A nominal partner is.....
A
not entitled to share the profits of the concern
B
entitled to equal share in the profits unless there is an agreement to any other profit sharing ratio
C
not liable for the acts of other partners
D
not able to third parties
Question 7
Which one is revenue expenditure?
A
Interest on capital,
B
Cost of building
C
installation expenses of mechanic purchased,
D
price of new car purchased for the M.D.
Question 8
The exchange rate prevailing at a financial reporting date
A
Closing exchange rate
B
Opening exchange rate
C
Fixed exchange rate
D
Fluctuating exchange rate
Question 9
Inspections, Search and seizure operations under GST are to be authorised by a CGST/SGST Officer not below the rank of.....
A
Dy Commissioner
B
Asst Commissioner
C
Joint Commissioner
D
Commissioner
Question 10
Which of the following is not a limitation of the current Internet?
A
insufficient capacity throughout the backbone
B
network architecture limitations
C
insufficient reach
D
best-efforts QOS
Question 11
better administration of budget in budgeting plans require
A
intelligent interpretations
B
participation
C
persuasion
D
all of above
Question 12
"BDL Ltd. is currently preparing its cash budget for the year to 31 March 20XX. An extract from its sales budget for the same year shows the following sales values. Rs March 60, 000 April 70, 000 May 55, 000 June 65, 000 40% of its sales are expected to be f
A
Rs. 60, 532
B
Rs. 61, 120
C
Rs. 66, 532
D
Rs. 86, 620
Question 13
Taylors differential piece rate system provides for higher rate to.....workers.
A
Inefficient
B
efficient
C
Both (A) and (B)
D
lazy
Question 14
Where an option is out of the money
A
The premium will be refunded to the buyer.
B
The buyer is unable to take up the contract
C
The seller gains to the extent of the premium received.
D
No further purchase by the buyer is permitted.
Question 15
Management by exception is exercising control over..
A
Costs
B
Favourable items
C
Unfavourable items
D
all of these
Question 16
Bombay Stock Exchange Sensex consists of...... script as on 31st March, 2005.
A
10
B
20
C
30
D
40
Question 17
The 'substitution effect' takes place due to change in
A
Income of the consumers
B
Prices of the commodity
C
Relative prices of the commodities
D
All of the above
Question 18
Job costing method is the most suitable method for.....
A
oil process units
B
transport companies
C
sugar industries
D
repair shops
Question 19
If number of units are 3000 and per unit price is $500, then flexible budget variable will be
A
$1, 500, 000
B
$2, 500, 000
C
$3, 500, 000
D
$4, 500, 000
Question 20
Can Mr. A avail credit on Input services or capital goods held in stock, in case of new registration/voluntary Registration
A
Yes
B
No
C
Yes on Input services only
D
Yes on capital goods only
There are 20 questions to complete.

Leave a Reply

Your email address will not be published. Required fields are marked *