# Commerce online quiz 221

By | August 21, 2018

## 10000 MCQ /questions on commerce questions answers

 Question 1
The first state which ratified the GST Bill in India
 A Kerala B Bihar C Jharkhand D Assam
 Question 2
Which of the following is not a feature of perfect competition?
 A Large number of buyers and sellers B Small number of buyers and sellers C Free entry and exit D Goods is homogeneous
 Question 3
The constitution of the IRDA consists of not more than..... members.
 A 10 members B 7 members C 9 members D 8 members
 Question 4
Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period?
 A High Court, within 30 days B Supreme Court within 60 days C SEBI within 90 days D Department of Companies Affairs within 60 days
 Question 5
The portion of total deposits of a commercial bank which it has to keep with RBI in the form of cash reserves in termed as
 A CRR B SLR C Bank Rate D Repo Rate
 Question 6
Which of the following is a type of cash receipt journal + cash payment journal?
 A Bank statement B Statement of cash flow C Cash book D Cash documents
 Question 7
Redeemable Preference shares of Rs. $1, 00, 000$ are redeemed at a premium of 5%. With this object equity shares of Rs. $40, 000 are$ issued at par. What amount should be transferred to Capital Redemption Reserve Account?
 A Nil B Rs. 1, 05, 000 C Rs. 65, 000 D Rs. 60, 000
 Question 8
The object of cost accounting is-
 A Ascertainment of Cost B Valuation of Stock C Cost Control D All of these
 Question 9
An acknowledgement must be given on receipt of advance payment in respect of supply of goods or services:
 A Yes, in the form of a proforma invoice; B Yes, the invoice must be raised to that extent ; C Yes, as a receipt voucher; D None of the above
 Question 10
The Workmen's compensation Act came into force in which year?
 A 1930 B 1921 C 1944 D 1924
 Question 11
Residual term is also considered as
 A error term B disturbance term C relevant term D both a and b
 Question 12
The labour force participation rate is the
 A Proportion of population that is working B Proportion of population working or looking for work C Proportion of skilled workers population D Proportion of female workers to male workers
 Question 13
Which of the following is not a manufacturing industry?
 A Iron and steel works B Flour Mills C Fruit canning D Mining
 Question 14
The Land Development Bank secure short term accommodation from the
 A State Governments B Commercial Banks C State Co-Operative Banks D All of these
 Question 15
"Calculate Re-order level from the following: Consumption per week: 100-200 units Delivery period: 14-28 days"
 A 5600 units B 800 units C 1400 units D 200 units
 Question 16
The debit card holder can perform which of the following functions?
 A Make Point of Sale (POS) purchase B Recharge Pre-paid mobile phones C Pay Life Insurance premium D All of the above
 Question 17
Consider the following information
1. Gross sales Rs. 20, 00, 000
2. Sales tax 7% on gross sales
3. Income tax 40%
4. Profit before tax 400, 000
What is net profit before tax ratio?
 A 21.5% B 22.50% C 23.50% D 24.50%
 Question 18
Assertion (A): Existence of secret reserve contradicts the disclosed network of a business. Reason (R): Secret reserve helps promote managerial efficiency.
 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 19
Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor
 A Yes B No C Yes vendor should be located in same place D None of the above
 Question 20
.is a method of evaluating the job in terms of its money value.
 A Job analysis B Motion study C work measurement D Job evaluation
There are 20 questions to complete.