Commerce online quiz 128

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Accounting rate of return is the ratio of average value of
A
profit after tax to salvage value of the investment.
B
profit before tax to present value of the investment.
C
profit after tax to book value of the investment.
D
profit after tax to present value of the investment.
Question 2
Which among these is not an objective of planning?
A
Economic growth
B
Setting of heavy industries
C
Modernisation
D
None of these
Question 3
Which of the following errors will not affect the Trail Balance?
A
Goods for Rs. 5, 000 purchased on cash, expenses account was debited instead of purchases account
B
Purchase Returns Book for December was overcast by Rs. 500
C
Sales Book carried forward Rs. 2, 200 instead of Rs. 2, 000
D
None of these
Question 4
Excess of debit over credit in the profit and loss account represents a.....
A
N/P
B
N/L
C
gross profit
D
gross loss
Question 5
In GST, the unutilised ITC except in the case of export amount are credited:
A
To the declared bank account of the dealer automatically
B
To the Cash Deposit Ledger of the dealer
C
To the ITC Credit Ledger Account
D
To the Consumer Welfare Fund
Question 6
CASA is basically the combination of Current account and saving account deposits with a Bank. Why do the Banks put greater emphasis on mobilizing a high CASA ratio?
A
In order to fulfill RBI stipulation for it
B
It helps reduction in average cost of funds
C
These are stable deposits
D
These help Banks maintain a healthy asset-liability ratio
Question 7
GST is applicable on....
A
Inputs and/or capital goods sent to job-worker (Satisfying conditions u/s 143)
B
The job-worker charges and additional material added by the job-worker on the inputs sent by the principal
C
Both of the above
D
None of the above
Question 8
Probability sampling and random sampling are
A
Anonymous
B
Different terms
C
Synonymous
D
None of the above
Question 9
The principle of business ethics includes
A
Principle of co-operation with others
B
Principle of publicity
C
Principle of equivalent price
D
All of the above
Question 10
In short term production function which of the following changes in factors?
A
Ratio
B
Scale
C
Both of these
D
None of these
Question 11
The Prescribed final date for the filing of Annual Return with Quantitative Supply Data and Both direct and Indirect Expenditure and Income Data
A
June, 30th of the Next Financial Year
B
September, 30th of the Next Financial Year
C
December, 31st of the Next Financial Year
D
January, 31st of the Next Financial Year
Question 12
The objective of financial accounting is to ascertain..... for a particular period.
A
profit
B
loss
C
transactions
D
profit or loss
Question 13
The amount paid to sub-contractor is.....
A
subtracted from the contract price
B
debited to contract a/c
C
credited to contract a/c
D
added with the contract price
Question 14
Suppose, One Dealer paying tax under Normal Scheme switch over in to Composition Scheme. What will be the fate of his already ITC availed existing stock and Credit balance on Electronic ITC Ledger?
A
Reversal of ITC on Existing Stock by Debiting the Electronic ITC Ledger and Electronic Cash Ledger
B
The balance ITC Ledger after Reversal of ITC on Stock will be lapsed
C
Both (A) and (B) above
D
No Reversal of ITC
Question 15
..... is a social device for eliminating or reducing the loss of society from certain risk.
A
Premium
B
Policy
C
Insurance
D
Contract
Question 16
Foreign exchange transactions involve monetary transactions
A
among residents of the same country
B
between residents of two countries only
C
between residents of two or more countries
D
among residents of at least three countries
Question 17
State which is a true statement
A
The last date for payment of taxes to the appropriate government is the last date on which the registered taxable person is required to furnish the return
B
Every person who is required to furnish return under 39(1) and 39(2) shall furnish return for every tax period whether or not supplies have been effected during such period.
C
Both (a) and (b)
D
None of the above
Question 18
Type of bond which pays interest payment only when it earns is classified as
A
income bond
B
interest bond
C
payment bond
D
earning bond
Question 19
According to the..... model, the dividend decision is irrelevant.
A
MM
B
Garden
C
Walter
D
XY
Question 20
Type of options in which buyer of options has call on 200 shares in stock is classified as
A
call option
B
stated option
C
unstated option
D
contractual option
There are 20 questions to complete.

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