# Commerce online quiz 149

By | August 21, 2018

## 10000 MCQ /questions on commerce questions answers

 Question 1
Payment of security if it is made at end of each period such as beginning of year is classified as
 A annuity due B payment fixed series C ordinary annuity D deferred annuity
 Question 2
 A Current asset B Current liability C Short term liability D Fixed asset
 Question 3
Type of cost which is used to raise common equity by reinvesting internal earnings is classified as
 A cost of mortgage B cost of common equity C cost of stocks D cost of reserve assets
 Question 4
Recreation expenses in factory are apportioned on the basis of.....
 A material cost B wages C prime cost D number of employees
 Question 5
Competition Act was enacted in the year.....
 A June 2002 B Dec. 2002 C January 1999 D None of these
 Question 6
Consider the following statements: Continuous evaluation of the relevance of generally accepted accounting principles is required, because:
1. they are the everlasting operating realities.
2. the environment, in whic
 A 1, 2 and 3 B 2, 3 and 4 C 3 and 4 D I and 4
 Question 7
If sales are Rs. 18, 000, Gross Profit Rs. 5, 000, Net Loss Rs. 1, 000, the operating expenses will be?
 A Rs. 4, 000 B Rs. 6, 000 C Rs. 13, 000 D Rs. 17, 000
 Question 8
Capital increases if..... increases
 A Expenses are greater than income B Drawings C Interest on capital D Revenue
 Question 9
Members of a company may apply to which one among the following for relief under the Companies Act, 1956 in cases of oppression?
 A Central Government B High Court of Judicature C National Company Law Tribunal D National Company Law Appellate Tribunal
 Question 10
Would notice/ order/ documents be 'deemed as served', though registered post/ speed post is not received by intended person?
 A No. Actual service is necessary. There is no concept of deemed service. B Yes, it is deemed to have been received by the addressee at the expiry of the period normally taken by such post, unless the contrary is proved. C No D None of the above
 Question 11
Xerography is a process of.....
 A electrical photography B blue printing C fixing stamps D printing address
 Question 12
What does management audit imply?
 A Complete audit B Detailed audit C Efficiency audit D Interim audit
 Question 13
A bus carries 25 passengers daily for 25 days and its mileage per month is 1000 kms. Its passenger miles are.....
 A 30, 000 B 12, 500 C 20, 000 D 25, 000
 Question 14
Slope coefficient is 0.75 and difference in machine hours is $65000 then difference in cost would be  A$86, 667 B $48, 750 C$85, 000 D \$55, 000
 Question 15
.....deals with accounting for investments.
 A AS 11 B AS 12 C AS 13 D AS 14
 Question 16
The portion of the acquisition cost of an asset yet to be allocated is known as
 A Written down value B Accumulated value C Realizable value D Salvage value
 Question 17
In calculating a country's GNP at market prices, which one of the following is not included?
 A Indirect taxes B Subsidies C Wages and salaries before tax D Retirement pension
 Question 18
The Degree of Financial Leverage (DFL)
 A Measures financial risk of the firm B Is zero at financial break-even point C Increases as EBIT increases D Both a and b
 Question 19
Assertion (A): The Companies Act; 1956 requires that internal audit must be carried out by a Chartered Accountant. Reason (R): It is to help the management to protect the interests of the shareholders and the society.
 A Both A and R are true and R is the correct explanation of A B Both A and R are true but R is NOT a correct explanation of A C A is true but R is false D A is false but R is true
 Question 20
Is Section 143 applicable to all categories of goods?
 A Yes B No C Applicable to all categories of goods D None of the above
There are 20 questions to complete.