Commerce online quiz 104

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Intimation regarding appointment of liquidator should be given to the Commissioner within 30 days of
A
Liquidation
B
Cancellation of registration
C
Appointment of Liquidator
D
Order of Court
Question 2
Earning Goodwill is..... for business ethics.
A
Need
B
Uses
C
merits
D
None
Question 3
Regional rural banks were established in india on the recommendation of which committees.....
A
Recommendations of Narsimham Committee
B
Recommendations of Shivraman committee
C
Recommendations of RG Saraiya Committee
D
Recommendations of RN Mirdha committee
Question 4
Assertion(A) Analytical review procedures are useful only at the time of planning of an audit. Reason (R): Analytical reviews are the test of financial information conducted through a study and review of relationship among financial data.
A
Both A and Rare individually true and R is the correct explanation of A
B
Both A and R are individually true, but R is not the correct explanation of A
C
A is true, but R is false
D
A is false, but R is true
Question 5
Net present value is a popular method which falls
A
With in non-discount cash flow method
B
With in discount cash flow method
C
Equal With in non-discount cash flow method
D
No discount cash flow
Question 6
The satisfactory ratio between share-holder's funds and long terms loan is....
A
1:1
B
2:1
C
3:1
D
4:1
Question 7
Profit is a part of
A
Income
B
Owner's capital
C
Assets
D
All of the above
Question 8
How many columns are there in the accession register?
A
10
B
12
C
14
D
16
Question 9
Conversion cost includes cost of converting...... into.........
A
Raw material, WIP
B
Raw material, Finished goods
C
WIP, Finished goods
D
Finished goods, Saleable goods
Question 10
Unclaimed dividends should be shown in the Balance Sheet of a company under the heading
A
Reserve and Surplus
B
Provisions
C
Current liabilities
D
Miscellaneous items
Question 11
Theory 'X' and Theory 'Y' of Motivation was propounded by-
A
Herzberg
B
Maslow
C
Elton Mayo
D
McGregor
Question 12
If a dealer paying Tax under Composition scheme in earlier law, switch over to normal scheme in GST, the treatment of Tax element involved in the stock will be:
A
No ITC Credit
B
ITC Credit subject to eligibility
C
Refund of Tax Element
D
None of the Above
Question 13
Which of the following statements is true in relation to liabilities?
A
Claims against the resources.
B
Currently existing obligations which the firm intends to meet at some time in the future.
C
It must be capable of being expressed in money terms.
D
All of the above
Question 14
In GST, a Dealer can apply for the Revocation of the Cancellation of Registration within:
A
Within 90 days from the date of the service of the GSTIN Cancellation Order
B
Within 60 days from the date of the service of the GSTIN Cancellation Order
C
Within 30 days from the date of the service of the GSTIN Cancellation Order
D
Within 15 days from the date of the service of the GSTIN Cancellation Order
Question 15
The tenure of the Foreign Trade policy is
A
3 years.
B
5 years.
C
1 year.
D
7 years.
Question 16
The average total cost pf producing 50 units is Rs.250 and total fixed cost is Rs.1000. What is the average fixed cost of producing 100 units?
A
Rs.10
B
Rs.30
C
Rs.20
D
Rs.5
Question 17
Nominal rate which is quoted to consumers on loans is considered as
A
annual percentage rate
B
annual rate of return
C
loan rate of return
D
local rate of return
Question 18
India is facing continuous deficit in its balance of payments. In the foreign exchange market rupee is expected to
A
Depreciate.
B
Appreciate.
C
Show no specific tendency.
D
Depreciate against currencies of the countries with positive balance of payment and appreciate against countries with negative balance of payment.
Question 19
A speculator who expects a rise in price of securities in the future are called as.....
A
bear
B
bull
C
stag
D
lame duck
Question 20
GST council formation based on Article number.....
A
279A
B
289A
C
266A
D
255A E. 286A
There are 20 questions to complete.

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