Commerce online quiz 269

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The 'Principle of Exception' states that management should-
A
Check everything without exception
B
Invariably take corrective action without exception
C
Accept exceptions in emergencies
D
Concentrate their attention on exceptions
Question 2
A person is entitled to take credit of input tax as self-assessed in the return and credited to Electronic credit ledger on
A
Final basis
B
Provisional basis
C
Partly Provisional and partly final basis
D
None of the above
Question 3
A manager who is responsible for only cost of company belongs to
A
cost center
B
revenue center
C
profit center
D
investment center
Question 4
Consider the following statements.....
  1. Letter of credit cannot be opened by mail.
  2. Contracts of export of goods and services against payment to be secured partly or fully beyond 90 days are treated as deferred p
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Question 5
In a company the use of proce sensitive corporate information by the company people to make gains or cover loss known as?
A
Insider trading
B
future trading
C
Foreign Trading
D
Stock Trading
Question 6
The objective of library binding is.....of the library materials.
A
Proper organisation
B
Accessibility.
C
Durability
D
Humidity control
Question 7
Which is the first-order condition for the profit of a firm to be maximum?
A
AC=MR
B
MC=MR
C
MR=AR
D
AC=AR
Question 8
When can a refund claim be filed under provisions of section 142
A
Duty paid under the earlier law and exported prior to appointed date
B
Duty paid under the earlier law and exported after to appointed date
C
Duty paid after appointed date and exported after appointed
D
(a) and (b)
Question 9
The most important element of cost in manufacturing industries is.....
A
material
B
labour
C
direct costs
D
indirect costs
Question 10
Memorandum of association of a firm contains.....
A
rules regarding the internal management of the company
B
rules regarding the constitution and activities of the company
C
rules regarding the external management
D
rules regarding the constitution
Question 11
What deductions are allowed from the transaction value
A
Discounts offered to customers, subject to conditions
B
Packing Charges, subject to conditions
C
Amount paid by customer on behalf of the supplier, subject to conditions
D
Freight charges incurred by the supplier for CIF terms of supply, subject to conditions
Question 12
Difference between job time and attendance time is
A
job time
B
actual time
C
over time
D
idle time
Question 13
Which is an example of ethical codes?
A
We believe in more production
B
We believe in assets
C
We believe in money
D
None of these
Question 14
Which of the following subsidiary books serves the purpose of ledger too, in addition to the recording of accounting transaction?
A
Purchases book
B
Sales book
C
Bills receivable book
D
Cash Book
Question 15
Markets which deals with high liquid and short term debt securities are classified as
A
capital markets
B
money markets
C
liquid markets
D
short-term markets
Question 16
Job analysis provides information used for writing
A
Organisation chart
B
Policy
C
Job Description
D
Procedure
Question 17
What is a technology-enabled microchip implanted into the human body?
A
Wearable computer
B
GPS
C
Implant chip
D
None of the above
Question 18
What is meant by development Oriented banking?
A
Infrastructure financing
B
Extending loans to States, which are un-development
C
Taking up the task of development of the economy by providing support to under privileged sections of the society
D
All the above
Question 19
Consider the following basic steps involved in the process of control:
  1. Identifying the strategic control points
  2. Establishment of the standards
  3. Measuring performance against standards
  4. Correcting deviati
A
1, 4, 3, 2
B
1, 2, 3, 4
C
2, 1, 3, 4
D
2, 3, 1, 4
Question 20
An analysis of data over successive past periods, which pertain to some plant, activity and organization is called
A
economic series
B
financial series
C
time series
D
analytical series
There are 20 questions to complete.

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