Commerce online quiz 143

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Few items of P/L A/c of a company are-Sales-Rs.1, 60, 000 Closing stock-Rs.38, 000 Non-operating Expenses-Rs.800 Non-operating Income-Rs.4, 800 Net Profit-Rs.28, 000 What is the Operating Profit Ratio?
A
18%
B
20%
C
15%
D
57%
Question 2
Which audit is carried out during the accounting period with some interval, it is called-
A
periodic audit
B
partial audit
C
continuous audit
D
interim audit
Question 3
Which economist stated the positive impact of monopoly?
A
Marshall
B
Adam Smith
C
Joseph Schumpeter
D
Pigou
Question 4
..... expenses are shown in the P/L A/c.
A
direct
B
indirect
C
cost
D
none of these
Question 5
The..... column in a ledger account shown the location of each entry in the journal
A
JF
B
LF
C
FJ
D
FL
Question 6
Relaxing the restrictions and controls imposed on Business and industry means
A
Liberalisation
B
Privatisation
C
Globalisation
D
None of the above
Question 7
In periods of boom, which leads to economic instability RBI resorts to
A
Sale first class securities in its precession in the market, to reduce the supply of money as a measure of open market operations
B
Buying of approved securities in the market as a measure of open market operation
C
Like in the bank rate as is measure of open market operations
D
None of the above
Question 8
Type of stock which have characteristics of bonds and common stock is classified as
A
bonds equity
B
common shares
C
common stock
D
preferred stock
Question 9
Setup cost is a type of..... cost.
A
fixed
B
variable
C
semi variable
D
carrying
Question 10
Showing the assets and liabilities in the order of convertibility or solvency is called.....
A
marshalling
B
balancing
C
carry forwarding
D
none of these
Question 11
The maximum validity period of provisional attachment in GST will be:
A
1 Year from the date of Order
B
2 Years from the date of Order
C
3 Years from the date of Order
D
Up to the realisation of the demand in the pending proceedings
Question 12
Wages paid to workers of factory are termed as
A
workers premium
B
overtime premium
C
factory premium
D
wage premium
Question 13
A Master Budget consists of
A
Sales budget
B
Production budget
C
Material budget
D
All of the above
Question 14
The component of TCP/IP that provides the Internet's addressing scheme and is responsible for the actual delivery of packets is.....
A
TCP
B
IP
C
the Network Layer
D
the Application Layer
Question 15
Where the goods sold paying VAT within 6 months prior to the appointed day are returned back to business place by an unregistered person within 6 months from the appointed day, the registered person can,
A
Re sale the goods without paying GST
B
The VAT paid will be lost
C
Claim for refund of VAT under the existing law
D
Pay tax on reverse charge basis
Question 16
Difference between flexible budget amount and corresponding actual result is called
A
corresponding variance
B
resultant variance
C
flexible budget variance
D
static budget variance
Question 17
In a public company the minimum number for having a Quorum in a meeting is-
A
2
B
3
C
5
D
7
Question 18
The..... refers to the orderly relationship between spot and forward currency exchange rates and the rates of interest between countries.
A
one-price rule
B
interest-rate parity
C
purchasing-power parity
D
exchange-power parity
Question 19
Economic profit is
A
Part of total cost
B
Total revenue minus total cost
C
Total revenue minus explicit cost
D
Total variable cost minus total fixed cost
Question 20
Dissolution of Partnership takes place when-
A
A partner misbehaves
B
A partner becomes of unsound mind
C
Business is running at a loss
D
A partner dies
There are 20 questions to complete.

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