Commerce online quiz 11

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Difference between flexible budget amount and corresponding static budget amount is classified as
A
sales revenue variance
B
cost profit variance
C
profit volume variance
D
sales volume variance
Question 2
Which of the following skills is equally important at all levels of management?
A
Technical skill
B
Human relation skill
C
Conceptual skill
D
All of the above
Question 3
Materials used in the normal operation of a business but not related to primary business operations are called what?
A
Supplies
B
Direct materials
C
Indirect materials
D
Daily stuff
Question 4
According to the principle of "Span of control" there is
A
A tendency of overload supervisors with too much of work
B
A limit to the number of subordinates a supervisor can effectively supervise.
C
No limit to the number of subordinates a supervisor can supervise.
D
A limit to delegation of authority to the subordinate.
Question 5
Does an existing Tax payer have to surrender the existing Registration certificates to obtain GST registration?
A
No, automatically he will receive final registration.
B
Yes, all registration certificates to be surrendered
C
Migrated to provisional registration subject to verification of documents
D
No, Provisional Registration is automatic
Question 6
Cost of a fixed asset-Accumulated depreciation expenses of the fixed asset =?
A
Book value of a fixed asset
B
Market value of a fixed asset
C
Historical cost of a fixed asset
D
Recoverable amount if a fixed asset
Question 7
If vendor are issued fully paid shares of Rs. 80, 000 in consi1eration of net assets of Rs. 60, 000, then the balance of Rs. 20, 000 will be:
A
Debited to profit and loss account
B
Debited to goodwill account
C
Credited to capital reserve account
D
Credited to share premium account.
Question 8
Disinvestment of shares means-
A
To sale the shares of private company to public
B
To sale the shares of public company to the public
C
To sale the shares of Government company to the public
D
To sale of shares by holding company to its subsidiary company
Question 9
A transport company is running five buses between two towns, which are 50 kms apart. Seating capacity of each bus is 50 passengeRs Actually passengers carried by each bus were 75% of seating capacity. All buses ran on all days of the month. Each bus made
A
281250
B
187500
C
562500
D
None of the above
Question 10
The costing is applied when a quantity of similar and identical products are manufactured together as one Job.
A
Job
B
Batch
C
operation
D
output
Question 11
In GST, both Central and State Governments should have simultaneous power to levy GST on:
A
Intra-State Supplies Only
B
Interstate Supply Only
C
Import
D
Both Intra-State and Inter-State Supply
Question 12
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 13
Reinvestment risk of bonds is usually higher on
A
income bonds
B
callable bonds
C
premium bonds
D
default free bonds
Question 14
Comprehensive machine hour rate includes.....
A
machine operators wages
B
managing directors salary
C
income tax
D
office rent
Question 15
Between 2007-08 to 2012-13, the value of Card spending rose to Rs.1.97 Lakh Crores. A raise in Cards spending indicates?
A
Transformation to 'Cashless Economy'
B
Low inflation
C
Raising incomes
D
Falling prices
Question 16
In the calculation of elasticity, there is error in case of
A
Arc elasticity
B
Point elasticity
C
Both (a) and (b)
D
None
Question 17
..includes financial and cost accounting, tax planning and tax accounting.
A
Financial accounting
B
cost accounting
C
management accounting
D
none of these
Question 18
Match List I with List II and select correct answer using the codes given below: List I List II a. ABC Analysis I. Capital Structure b. Fund Flow Analysis II. Inventory Control c. ROI Ill. Working Capital Management d. M M Theory IV. Overall Profitabilit
A
a b c d II III IV I
B
a b c d I II IV III
C
a b c d IV III I II
D
a b c d I III II IV
Question 19
Vertical difference, which measures distance between estimated and actual cost for every single observation is classified as
A
residual term
B
positive term
C
negative term
D
squared term
Question 20
New assets acquired for claiming exemption u/s 54, 54B or 54D, if transferred within 3 years, will result in
A
Short-term capital gain
B
Long-term capital gain
C
ST or LTCG depending upon original transfer
D
None of the above
There are 20 questions to complete.

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