Commerce online quiz 257

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
stion Whether penalties under any other provisions of the Act be imposed in respect of adjudication proceedings under section 73 or 74?
A
Yes
B
No
C
At proper officer's discretion
D
None of the above
Question 2
Who gave the 14 Principles of Management?
A
Elton Mayo
B
F.w. Taylor
C
Max Weber
D
Henri Fayol
Question 3
Who will notify the rate of tax to be levied under CGST?
A
Central Government suo moto
B
State Government suo moto
C
GST Council suo moto
D
Central Government as per the recommendations of the GST Council
Question 4
If static budget is $208000 and flexible budget amount is $305000, then sales budget variance will be
A
$67, 000
B
$97, 000
C
$57, 000
D
$47, 000
Question 5
Which one of the following is INCORRECT about closing stock?
A
It is added into current assets
B
It is deducted from Material available for use
C
It becomes opening stock of next year
D
It reduces the resources of business
Question 6
If retention rate is 0.68 then payout rate will be
A
1.47
B
1.68
C
0.32
D
0.68
Question 7
Given that the current ratio is 2:1, if the net working capital is Rs. 60, 600, then the amount of current liabilities would be:
A
Rs. 30, 300
B
Rs. 60, 600
C
Rs. 1, 21, 000
D
Rs. 90, 900
Question 8
The objective of financial management is to.....
A
generate the maximum net profit
B
generate the maximum retained earnings
C
generate the maximum wealth for its shareholders
D
generate maximum funds for the firm at the least cost.
Question 9
Which one of the following is not an objective of the introduction of Primary Dealer System?
A
To encourage a voluntary holding of govt. securities amongst a wider investor base
B
To make Primary Dealer System an effective conduct of open market operations
C
To strengthen the private equity infrastructure
D
To strengthen the govt. securities infrastructure
Question 10
The duties of Company Secretary s regarding company meetings are restricted upto-
A
Before company meeting
B
During company meeting
C
After company meeting
D
ln all the above situations
Question 11
Money Supply in India can be increased if.....
  1. RBI puts more paper money for circulation
  2. The commercial banks expand their credit operations
  3. The central Govt. gives more grants to the states
  4. The Govt. of
A
1, 2 and 3
B
2, 3 and 4
C
1, 3 and 4
D
1, 2 and 4
Question 12
Cost, which is related to specific cost object and economically traceable, will be classified as
A
direct cost
B
indirect cost
C
line cost
D
staff cost
Question 13
What are the offences which cannot be permitted to compound in GST? (i) Repetition of the offences serial numbered as 1 to 7 u/s.73 (ii) Repetition of the abetment in the case of the major offences listed u/s.73 (iii) Repetition of the tax evasion offenc
A
i, ii & iii
B
i, ii & iv
C
ii, iii & iv
D
I, ii, iii & iv
Question 14
After retirement, the indirect Tax Gazetted Officers having a minimum 2 years' service as such are permitted to appear before the FAA and Tribunal after a period of?
A
One Year from Retirement
B
Two Years from Retirement
C
Three Years from retirement
D
Four Years from Retirement
Question 15
In costing where standardized goods or services result from a sequence of repetitive and more or less continuous operations to which costs are collected and averaged over the units produced during the year:
A
Multiple
B
Process
C
Operation
D
single.
Question 16
ERP stands for.
A
Enterprise resolution planning
B
Enterprise reverse planning
C
Enterprise resource planning
D
None of the above
Question 17
The term cost refers to.....
A
the present value of future benefits
B
the value of sacrifice made to acquire goods or services
C
an asset that has given benefit but now expired
D
the price of products sold or services rendered
Question 18
In case, coefficient of correlation is negative, the curve representing the relation will be
A
Vertical
B
Downward sloping
C
Upward sloping
D
Horizontal
Question 19
Sundry overhead expenses may be apportioned in the ratio of.....
A
material consumed
B
number of employees
C
labour hours
D
machine hours
Question 20
Financial assets.....
A
directly contribute to the country's productive capacity
B
indirectly to the country's productive capacity
C
contribute to the country's productive capacity both directly and indirectly
D
do not contribute to the country's productive capacity either directly or indirectly
There are 20 questions to complete.

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