Commerce online quiz 185

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Suppose, the IGST Credit of ' 5/-Lakhs has been cross utilised to settle the SGST OPT of ' 5/-Lakhs of a Kerala Dealer. The fund transfer will be:
A
5/-Lakhs from IGST Fund will be transferred by Central government In to Kerala SGST Fund
B
5/-Lakhs from SGST Fund will be transferred by Kerala government in to Central IGST Fund
C
5/-Lakhs from CGST Fund will be transferred by Central government in to Kerala SGST Fund
D
No Fund Transfer at all.
Question 2
An assumption of specification analysis states: any observation does not belong to any other observation's residual value, is classified as
A
independence of residuals
B
dependence of residuals
C
independence of correlation
D
dependence of residuals
Question 3
An important aspect of control is that the:
A
manager motivates his subordinates to give better performance
B
manager sets an effective management information system
C
plans are checked before implementation against predetermined measures of performance
D
performance is checked against predetermined standards
Question 4
cost object user, who is ranked first in incremental cost allocation method is known as
A
First incremental user
B
primary user
C
secondary user
D
second incremental user
Question 5
If payment of security is paid as Rs 100 at end of year for three years, it is an example of
A
fixed payment investment
B
lump sum amount
C
fixed interval investment
D
annuity
Question 6
All expenses incurred by the proprietor which are not related to business are treated as.....
A
withdrawal
B
drawings
C
remittances
D
none of these
Question 7
Incomes which accrue or arise outside India but are received directly into India are taxable in case of
A
Resident only
B
Both ordinarily resident and NOR
C
Non-resident
D
All the assesses
Question 8
An economic theory is
A
An axiom
B
A proposition
C
A hypothesis
D
A tested hypothesis
Question 9
Considering dual rate method, if employees work for 8500 budgeted hours at $120 per hour and work for 9500 actual hours at $110 per hour, then total cost would be
A
$2, 078, 000
B
$3, 078, 000
C
$2, 065, 000
D
$3, 065, 000
Question 10
The average of the nos. 2, 4, 6, 8, 10, 12, 14 and 16 is-
A
9
B
10.2
C
8.6
D
11
Question 11
The price at which a market maker is prepared to buy (a currency) or borrow (money) is termed as
A
spot rate
B
bid rate
C
ask price
D
forward rate
Question 12
The process of recording transactions in a journal is known as.....
A
recording
B
journalizing
C
posting
D
balancing
Question 13
Cost of goods available for sale-closing inventory =?
A
Opening inventiry
B
Cost of opening finished goods inventory
C
Work in progress ending inventory
D
Cost of goods sold
Question 14
Which of the following is a producer good?
A
Pen
B
Cycle
C
Mobile phone
D
Hammer
Question 15
Assertion (A): Section 205 of the Companies Act makes it obligatory for every company to make provision for depreciation. Reason (R): Depreciation is a charge against revenue.
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 16
Bonds which are more risky than corporate bonds and are issued by major corporations are classified as
A
common stocks
B
corporate stocks
C
leases
D
preferred stocks
Question 17
In mutually exclusive projects, project which is selected for comparison with others must have
A
higher net present value
B
lower net present value
C
zero net present value
D
all of above
Question 18
What is the correct sequence of the following functions of a manager in an organisation?
  1. Motivation
  2. Controlling
  3. Organising
  4. Planning
Select the correct answer using the codes given below.
A
4, 3, 2, 1
B
4, 3, 1, 2
C
3, 4, 2, 1
D
3, 4, 1, 2
Question 19
Journals are also referred to as
A
Book of entries
B
Book of original entries
C
T account
D
Book of economic events
Question 20
The comparative cost Advantage theory was given by
A
David Ricardo
B
Adam smith
C
Raymond Vernon
D
Michael E. Parter
There are 20 questions to complete.

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