Commerce online quiz 279

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
To which one of the following aspects does an established pattern of relationships among the components of an organization refer?
A
Organization strategy
B
Organization structure
C
Organization process
D
Organization policy
Question 2
In sampling investigation, to arrive at valid conclusions, we may study?
A
Only a very small unit of a population
B
All the units of the population
C
Representative units of the population
D
None of these
Question 3
"What is the company's breakeven point: 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 selling cost-Rs 0.80 per unit Budgeted production and
A
8, 000 units
B
8, 333 units
C
10, 000 units
D
10, 909 units
Question 4
Assertion (A).It is no better to pay employees for little than to pay to much. Reason (R). Competent employees will remain competent forever.
A
(A) is true but (R) is false.
B
(R) is true but (A) is false.
C
Both (A) and (R) are true.
D
Both (A) and (R) are false
Question 5
When actual loss is less than the estimated loss, the difference between the two is considered to be.....
A
Abnormal gain
B
abnormal loss
C
normal loss
D
income
Question 6
In order to reduce the risk of heavy insurance the insurer passes on some business to the other company, it is called-
A
Reinsurance
B
Double Insurance
C
Joint Insurance Policy
D
Separate Insurance
Question 7
What is the threshold limit of turnover in the preceding financial year for opting to pay tax under composition scheme?
A
Rs.20 lacs
B
Rs.10 lacs
C
Rs.50 lacs
D
None of the above
Question 8
If actual selling price is $500, actual result is $250 and actual units sold are 350, then selling price variance will be
A
$87, 500
B
$97, 500
C
$67, 500
D
$57, 500
Question 9
.....determines the priorities of functional budget.
A
Principal Budget Factor
B
Limiting Factor
C
Both (A) and (B)
D
none of the above.
Question 10
Commissioner will notify the amount of liability within how many days of intimation
A
3 months
B
30 days
C
60 days
D
6 months
Question 11
A new business was set up on 15-11-2008 and it commenced its business from 1-12-2008. The first previous year in this case shall be
A
15-11-2008 to 31-3-2009
B
1-12-2008 to 31-3-2009
C
2008-2009
D
None of the above
Question 12
A firm business income is nil/negative. It shall still be allowed as deduction on account of remuneration to working partner to the maximum extent of
A
Actual remuneration paid as specified in partnership deed
B
Rs. 50, 000
C
Nil
D
None of the above
Question 13
Range of the coefficient of correlation is
A
2
B
$pm$ 1
C
$\pm$ 0.5
D
$\pm$ 0.25
Question 14
There was increase in tax rate from 20% to 24% w.e.f. 1.6.2018. Which of the following rate is applicable when services are provided after change in rate of tax in June 2017 but invoice issued and payment received, both in April 2017
A
20% as it is lower of the two
B
24% as it is higher of the two
C
20% as invoice and payment were received prior to rate change
D
24% as the supply was completed after rate change
Question 15
In India GST was first proposed in.....
A
1993
B
1996
C
1999
D
2000 E. 2002
Question 16
Required rate of return, is multiplied per unit cost of purchased units to calculate
A
irrelevant inventory carrying costs
B
relevant opportunity cost of capital
C
relevant purchase order costs
D
relevant inventory carrying costs
Question 17
In calculation of net cash flow, deferred tax payments are classified as
A
non-cash revenues
B
non-cash charges
C
current liabilities
D
income expense
Question 18
Stock should include-
A
Goods held as security
B
Goods held as consignee
C
Goods with customers for approval on sale or return basis
D
Goods sold but not delivered
Question 19
A receipt is a capital receipt because
A
The amount is heavy
B
It is credited to capital account
C
It relates to fixed assets
D
It is received not in the regular course of business.
Question 20
Which one out of the following is not an inventory valuation method?
A
FIFO
B
LIFO
C
Weighted Average
D
EOQ
There are 20 questions to complete.

Leave a Reply

Your email address will not be published. Required fields are marked *