Commerce online quiz 263

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Select the incorrect statement/statements about the co-operative banks in India from given choices: i. Co-operative banks are small sized units organized in the cooperative sector, which operate both in urban and non-urban centers. ii. They are regulated
A
Only I
B
Only ii
C
Both i and ii
D
Neither i and ii
Question 2
What are the consequences, where a registered person fails to furnish the return required under Section 39 or Section 45, even after the service of a notice under Section 46?
A
The proper officer may proceed to assess the tax liability of the said person to the best of his judgement.
B
issue an assessment order within a period of five years from the date specified under Section 44
C
Either (a) or (b)
D
Both (a) and (b)
Question 3
Which of the following is the most valid reason for India to export gold to Bank of England in 1991?
A
To set up India-UK bilateral relationship
B
India returned UK gold
C
To meet foreign exchange crisis
D
For Investment in Bristish companies
Question 4
According to Black Scholes model, purchaser can borrow fraction of security at risk free interest rate which is
A
short term
B
long term
C
transaction cost
D
no transaction cost
Question 5
Financial security issued by banks operating outside U.S is classified as
A
dollar bonds
B
euro deposits
C
Eurodollar market deposits
D
euro bonds
Question 6
An increase in marginal cost of capital and capital rationing are two arising complications of
A
maximum capital budget
B
greater capital budget
C
optimal capital budget
D
minimum capital budget
Question 7
A person shall not be appointed as Director if he is found to be of unsound mind by:
A
the company
B
the company court
C
a court of competent jurisdiction and the finding is in force
D
the shareholder
Question 8
Type of financial securities that matures in less than a year are classified as
A
money market securities
B
capital market securities
C
saving intermediaries
D
discounted intermediaries
Question 9
Discounted cash flow analysis is also classified as
A
time value of stock
B
time value of money
C
time value of bonds
D
time value of treasury bonds
Question 10
Professionals such as doctors, accountants and lawyers often make corporations are classified as
A
general professionals
B
Professional Corporation
C
professional association
D
Both B and C
Question 11
Basis of apportionment of creche expenses is..
A
Number of employees
B
number of female employees
C
number of male employees
D
both b&c
Question 12
On the death of a partner the amount of joint life insurance policy should be credited to the Capital A/c of-
A
All partners (including deceased one) in their profit sharing ratio)
B
Remaining partners in their old profit sharing ratio
C
Remaining partners equally
D
All partners (including deceased) in their capital ratio
Question 13
The following is (are) the current liability (ies)
A
Bills payable
B
Outstanding expenses
C
Bank Overdraft
D
All of the above
Question 14
The principle of indemnity does not apply to.....
A
Burglary insurance
B
Fire Insurance
C
Marine Insurance
D
Life and Personal Accident insurance
Question 15
Fully paid-up shares are called.....
A
Securities
B
Stock
C
Dividends
D
Debentures
Question 16
Market where market makers keep record of stock of financial instruments is classified as
A
stock market
B
dealer market
C
outcry auction system
D
face to face communication
Question 17
Service costing is used in industries producing.....
A
Products
B
service
C
Both (A) and (B)
D
none of these
Question 18
Method which divides support department cost into two dimensions such as fixed and variable cost pool is classified as
A
sales mix allocation method
B
dual-rate cost-allocation method
C
single rate cost allocation method
D
quantity variance allocation method
Question 19
Current audit is also known as-
A
Internal Audit
B
Periodic Audit
C
Continuous Audit
D
Interim Audit
Question 20
Point in joint production process, in which two or more products are separately identifiable is termed as
A
step down point
B
incremental point
C
split off point
D
inseparability point
There are 20 questions to complete.

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