10000 MCQ /questions on commerce questions answers
If any of the parties are aggrieved by the advance ruling of the AAR, what will be the option available to the dealer or CGST/SGST Officials?
File appeal before the AAAR
Refer the case for the revision Order of the Commissioner
Approach the Tribunal
Any of the Above
Reserve Bank of India was nationalized in:
Can the recipient avail the Input tax credit for the part payment of the amount to the supplier within one hundred and eighty days?
Yes on full tax amount and partly value amount
No he can't until full amount is paid to supplier
Yes but proportionately to the extent of value and tax paid Input Tax Credit 53 Indirect Taxes Committee
A manager, who is responsible for both cost and revenues belongs to department of
A measure which is not included in Fama French Three-Factor model is
realized risk free rate
rate of return on market
.....is an expenditure which is incurred to meet the day to day expenses of the business.
deferred revenue expenditure
none of these
Who is liable to pay the tax in case of Principal and Agent?
Both jointly and severally
The use of preference share capital as against debt finance.
Increases financial risk
Both a and b
Dividing the net profit by the paid up amount of equity share capital yields...
Earning per share
Rate of return on equity share capital
None of the above
Under perfect competition
Cash purchases is recorded in which of the following specialized journals?
Purchase return journal
Cash payments journal
At elasticity of one, marginal revenue is equal to
In a machine dominated industry which method of overhead absorption is suitable?
Direct material cost method
Prime cost method
Labour hour method
Machine hour method
A.....is used for recording all residual transactions which cannot find place in any of the subsidiary books.
none of these
Risks in the business arise because of
Introduction of the new products
Uncertain policy of rival firms
Changes in tastes
All of the above
Consider the following
- Tariff binding
- Tariff cuts
- Reduction in subsidies and domestic support
1, 2 and 3
2, 3 and 4
1, 3 and 4
1, 2, 3 and 4
If credit applicable to more than one recipient, then it shall be distributed
On Pro rata basis to the aggregate turnover of such recipients
As per Adhoc Ratio
Which of the following is not an item of Balance Sheet?
Speculation in stock exchange means.....
Investment in securities
Gambling in securities
Buying and selling securities in the hope of making profile due to change in prices
Creating secret profits
The calculation of the aggregate turnover to decide the Taxable Minimum Turnover will be based on
State Wise Turnover Basis
All India Turnover Basis
State Wise Turnover excluding Export
All India Turnover excluding Export
There are 20 questions to complete.