Commerce online quiz 291

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Under..... Article of the Constitution, GST on supplies in the cause of Inter-state trade or commerce shall be levied and collected by the Government of India?
A
Article 246 A
B
Article 269 A
C
Article 254
D
Article 279 A
Question 2
Principal functions of SIDBI:
A
Promotion of SSI
B
Finance of SSI
C
Development of SSI
D
All the above
Question 3
Which one of the following is part of Capital Market in Indian Economy?
A
Gilt edge market
B
Stock Exchange
C
Mutual funds
D
Call money market
Question 4
The supply of goods to SEZ unit is treated as..... in the hands of the supplier:
A
Exempt Supply-Reversal of credit
B
Export of Supplies
C
Deemed Taxable Supply-No reversal of credit
D
Non Taxable Supply-Outside the Scope of GST
Question 5
What is date of receipt of payment?
A
Date of entry in the books
B
Date of payment credited into bank account
C
Earlier of a and b
D
Date of filing of return
Question 6
The receiver of goods returned will send a..... note to the returner.
A
debit
B
credit
C
revenue
D
none of these
Question 7
If the CGST department is not satisfactory with the decision or order passed by the Adjudicating Authority, what will be the Option available?
A
Review Order by the Commissioner
B
File First Appeal before the FAA within 3 months with another 1 month of condonable delay
C
Either (A) or (B)
D
Both (A) and (B)
Question 8
An increase in the supply of a commodity is caused by
A
Improvements in technology
B
Fall in the prices of other commodities
C
Fall in the prices of factors of production
D
All of the above
Question 9
Which management functions are closely related to?
A
Planning and Organising
B
Organising and Staffing
C
Staffing and Control
D
Planning and Control
Question 10
Which of these is not an objective of Cost Accounting?
A
Ascertainment of Cost
B
Determination of Selling Price
C
Cost Control and Cost reduction
D
Assisting Shareholders in decision making
Question 11
Which of the following statements about privacy is true?
A
It is a moral right to be left alone
B
Only corporations and government need to be concerned about it
C
It has only just recently become a concern
D
It is most easily obtained on the Internet
Question 12
In weighted average cost of capital, a company can affect its capital cost through
A
policy of capital structure
B
policy of dividends
C
policy of investment
D
all of above
Question 13
When the completion stage of a contract is less than 1/4, the total expenditure on the contract is transferred to..account.
A
Work-in-Progress
B
Profit and loss account
C
miscellaneous account
D
none of these
Question 14
A firm will have favourable leverage if its..... are more than the debt cost
A
debt
B
interest
C
equity
D
earnings
Question 15
Bonds issue by corporations which are more risky than preferred stocks are classified as
A
leases
B
preferred stocks
C
common stocks
D
corporate stocks
Question 16
In long-run, all firms in monopolistic competition
A
Earn supernormal profits
B
Earn normal profits
C
Incur losses
D
May earn normal profit, super normal profit or incur losses
Question 17
The recommendation of the GST Council will be
A
Mandatory
B
Only Advisory Power
C
Mandatory and sometimes Advisory
D
Mandatory on States only
Question 18
Registration of a partnership is.....
A
compulsory
B
voluntary
C
statutory
D
mandatory
Question 19
What is an arrangement made between e-commerce sites that direct users from one site to the other?
A
Spam
B
Viral marketing
C
Affiliate programs
D
None of the above
Question 20
The purpose of financial accounting is to provide information for.....
A
fixing prices
B
controlling cost
C
locating factors leading to wastages and losses
D
assessing the profitability and financial position of the firm
There are 20 questions to complete.

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