Commerce online quiz 137

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Quantitative expression, of action plan by management of firm for a specified period of time is classified as
A
complexity
B
process
C
budget
D
batching
Question 2
NRV or net realizable value of inventory is the expected selling price or market value less
A
Carry value of the inventory
B
Expenses necessary to complete sale
C
Cost of the stock
D
Replacement cost
Question 3
Budgeting is difficult to apply in the following cases
A
Products subjected to rapid changes
B
Job order manufacturing
C
Uncertain market condition
D
All of the above
Question 4
Ten rupees is the equilibrium price for good X. If government fixes the price at Rs.5, there is
A
A shortage
B
A surplus
C
Excess supply
D
Loss
Question 5
Which one of the following functions is served most by information technology?
A
Replacement of human labour
B
Provision for a handle to the management to improve industrial relations
C
Substitution of human information processing
D
Rationalisation of office work
Question 6
Where the signature of the drawer of a cheque is not genuine, such a cheque is called
A
post dated cheque
B
stale cheque
C
forged cheque
D
all
Question 7
A Bull speculator is also called as.....
A
mandiwala
B
tejiwala
C
tarawaniwalas
D
vaniwalas
Question 8
Federal Reserve policy and federal surplus or deficit of budget affect the
A
cost of production
B
cost of money
C
opportunity cost
D
inflation risk
Question 9
Net Profit = Gross Profit minus
A
Operating expenses
B
Product cost
C
Deferred expenses
D
Direct cost
Question 10
Underlying all investments is the trade-off between.....
A
expected return and actual return
B
low risk and high risk
C
actual return and high risk
D
expected return and risk
Question 11
..... is the gross inflow of economic benefits
A
Assets
B
Liabilities
C
Income
D
Expenses
Question 12
What will be the amount carried forward as CGST/SGST from the earlier law and shown in the return filed for the period ending as on appointed date?
A
No amount will be carried forward from the earlier law
B
Amount which is admissible under earlier law but may not be admissible under GST
C
Amount which is admissible under GST but may not be admissible under earlier law
D
Amount which is admissible under both the GST and earlier law
Question 13
In an income statement, when costs become cost of sold goods and manufactured products are sold, such costs are
A
inventoriable costs
B
finished costs
C
factory overhead costs
D
manufacturing overhead costs
Question 14
Idle capacity of a plant refers to the difference between.....
A
maximum capacity and practical capacity
B
practical capacity and normal capacity
C
practical capacity and capacity based on sales expectancy
D
maximum capacity and actual capacity
Question 15
The basis for determining profit to be taken into account on incomplete contract is.....
A
cost of contract
B
contract price
C
percentage of work certified as done
D
uncertified work
Question 16
Which of the following is the Regulator of the credit rating agencies of India?
A
RBI
B
SBI
C
SIDBI
D
SEBI
Question 17
Sale of old furniture will be recorded in
A
Purchase journal
B
Sales journal
C
Journal proper
D
nowhere
Question 18
When transfer of property would be considered void?
A
Transaction is done to defraud the Government revenue
B
Transaction is done without the intention to defraud the Government revenue
C
Any of the above
D
None of the above
Question 19
If NAV > market price of a fund, then the fund.....
A
is selling at a discount
B
is selling at a premium
C
is an index fund
D
is an exchange traded fund.
Question 20
On an indifference map, if the income consumption curve slopes downwards to the right it shows that
A
Both X and Y are superior goods
B
Y is an inferior good
C
X is an inferior good
D
Both X and Y are inferior goods
There are 20 questions to complete.

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