Commerce online quiz 274

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Which of the following is the assumption of the MM model on dividend policy?
A
The firm is an all-equity firm
B
The investments of the firm are financed solely by retained earnings
C
The firm has an infinite life
D
None of the above
Question 2
Total purchases are posted to the.....at the end of a week or a month.
A
journal
B
general account
C
purchase account
D
none of these
Question 3
Suppose one dealer has Cen vat or Local VAT unadjusted ITC credit carried forward to the last return period in the subsumed taxation laws. How this balance unadjusted ITC will be treated in GST?
A
Refunded under earlier laws
B
Allowed as ITC in GST
C
Refunded under GST law
D
Any of the Above
Question 4
If the proper officer needs any clarification in the REG-01 filed by a dealer, what will be the option available to him?
A
Online issuance of GST REG-03 within 3 common working days from the receipt of the GST REG-01
B
Make field visit
C
Either (A) or (B)
D
Provisional issuance of the registration certificate
Question 5
In regression equation Y = $6000 + (per unit cost x number of units), '$6000' is a
A
constant
B
variable
C
expression
D
base and exponent
Question 6
Which one of the following is not included in the internal check as regards purchases?
A
Assessment of requirements
B
Placing orders
C
Despatch of goods
D
Recording and making payments
Question 7
Assertion (A): One single primary ratio that measures the final outcome of all recorded business activities is ROI Reason (R): In practice, however variations are also found in the ratio because capital and return are subject to different interpretation
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 8
Accounting is a language of-----.
A
business
B
commerce
C
economics
D
none of these
Question 9
To whom the Advance Ruling is applicable?
A
To all similarly placed dealers
B
To all Adjudicating Authorities and Appellate Authorities on similar cases
C
To the Applicant and his Adjudicating Authority Only
D
All of the above
Question 10
Activities related to coordinating, controlling and planning flow of inventory are classified as
A
decisional management
B
throughput management
C
inventory management
D
manufacturing management
Question 11
Which of the following are ways to prove access rights?
A
What you know, like a password
B
What you have, like an ATM card
C
What you look like
D
All of the above
Question 12
Which of the following is not an item of revenue expenditure?
A
Interest on deposits accepted
B
Annual insurance premium on inventory
C
Customs duty paid in connection with the import of equipment
D
Repairs and maintenance on machinery
Question 13
A situation in which an outside group solicit proxies to take control of business is classified as
A
outside group
B
solicit process
C
proxy fight
D
controlled management
Question 14
Idle time variance is.
A
Idle time x actual labour
B
Idle time x standard rate
C
Idle time x budgeted labour rate
D
Idle time x historical cost
Question 15
Differential piece wages means.....
A
different wages for different level of performance
B
different wages for different time consumed
C
different wages for different level of output
D
different wages for different types of industries
Question 16
"How many units must be sold if company wants to achieve a profit of Rs 11, 000 for the year? Selling price-Rs 6 per unit Variable production cost-Rs 1.20 per unit Variable selling cost-Rs 0.40 per unit Fixed production cost-Rs 4 per unit Fixed se
A
2, 500 units
B
9, 833 units
C
10, 625 units
D
13, 409 units
Question 17
The Reserve Bank of India has decided to help banks, as a temporary measure, by providing additional liquidity support under LAF. What is the full form of LAF?
A
Loan Adjustment Fund
B
Liquidity Adjustment Facility
C
Long Awaited Funds
D
Loan Against Funds
Question 18
The scanned documents required for filing ITC on export?
A
Export Invoice and Shipping Bill
B
Packing List, Bill of Lading and Mate's Receipt
C
Bank Realisation Certificate
D
All of the above
Question 19
Factor Endownment Theory of International Trade was propounded by
A
David Ricardo
B
Bertil-Ohlin
C
J. S. Mill
D
C.P. Kindleberges
Question 20
What is the maximum deposit amount insured by the DICGC (Deposit Insurance and Credit Guarantee Corporation)?
A
Rupees One Lakh
B
Rupees Two Lakh
C
Rupees Three Lakh
D
Rupees Five Lakh
There are 20 questions to complete.

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