10000 MCQ /questions on commerce questions answers
.....include cash and assets that can be normally converted into cash during the operating cycle of the business.
none of these
Special audit u/s 66 can be directed at any stage of scrutiny, enquiry, investigation or any other proceedings having regard to nature and complexity of the case if, any officer not below the rank of [Assistant Commissioner]:
is of the opinion that the value has not been correctly declared
the credit availed is not within the normal limits.
assessee does no co-operate
(a) or (b)
The method of raising equity capital from existing members by offering securities on pro rata basis is referred to as.....
A bill of exchange when drawn requires
Which concept suggests that different applications and computer systems should be able to communicate with one another?
A possible obstacle to growth of privatisation is
Profit earned by public enterprises
Sale of least profitable enterprises
All of these
What charts (1) the cost to your organization of the unavailability of information and technology and (2) the cost to your organization of recovering from a disaster over time?
Disaster recovery plan
Disaster recovery cost curve
Which types of files are available in the form of tray that lie flat horizontally in a cabinet?
Which of the following is an abnormal cause of Idle time:
Time taken by workers to travel the distance between the main gate of factory and place of their work
Time lost between the finish of one job and starting of next job
Time spent to meet their personal needs like taking lunch, tea etc
Machine break downs
Fixed cost..... in the same proportion in which output changes.
does not change
none of these.
Which of the following is time spann into which the total life of a business is divided for the purpose of preparing financial statements?
..is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred.
Over absorption of overheads
under absorption of overheads
none of these.
Number of worker employed is used as basis for the apportionment of.....
rate and tax
The time required to process and execute an order is called
Volume variance is divided into
Capacity variance, calendar variance andExpenditure variance
Capacity variance, calendar variance and efficiency variance
Capacity variance, expenditure variance and efficiency variance
Calendar variance, expenditure variance and efficiency variance
After the construction of their new factory building, M/s XYZ Co. shifted to it. During this process Rs. 20, 000 were spent on pulling down the old structure and Rs. 2, 000 were spent on shifting the stocks to new building. These expenditures are to be cla
Capital and Revenue expenditure respectively
Deferred Revenue expenditure
What are the conditions in which a taxable person may beordered to be arrested?
An offence U/s.73 having a tax evasion value of more than Rs.50/-Lakhs
Repetition of an offence U/s.73
Any of the Above
None of the Above
If trade credits are Rs. 10, 000, outstanding expenses are 10% of creditor, current ratio being 2: 1, Stock is Rs. 7, 000, then the amount of other current asset will be-
Rs. 10, 000
Rs. 18, 000
Rs. 15, 000
Rs. 8, 000
Which of the following accounts can be classified as a real account?
Rent expenses account
Rent income account
Insurance expenses account
Out of the following, what is not the work of purchase department:
Receiving purchase requisition
Exploring the sources of material supply
Preparation and execution of purchase orders
Accounting for material received
There are 20 questions to complete.