Commerce online quiz 304

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Price-taking firms i.e., firms that operate in a perfectly competitive market, are said to be 'small' relative to the market. Which of the following best describes this smallness?
A
The individual firm must have fewer than 10 employees
B
The individual firm faces a downward-sloping demand curve
C
The individual firm has assets less than Rs. 20 lakhs
D
The individual firm is unable to affect market price through its output decisions
Question 2
Recommendations of Malegam committee on Micro Finance Sector do not include.....
A
MFI should not charge more than 24% of its disbursed loans
B
Processing fee on the loan amount must not be more than 1%
C
Margin of interest to be not more than 20 per cent
D
MFIs should lend to an individual borrower only as a member of a JLG and should have the responsibility of ensuring that the borrower is not a member of another JLG
Question 3
Consider the following statements:
  1. Aggregate planning implies operational planning concerned with determining a firm's production requirements and manufacturing capacity
  2. Behavior modification is a concept of to
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Question 4
Stated value of bonds or face value is considered as
A
state value
B
par value
C
bond value
D
per value
Question 5
..... influence the behavior of others through their personality, skills, or other factors.
A
Opinion leaders
B
Direct reference groups
C
Indirect reference groups
D
Lifestyle groups
Question 6
A saree manufacturer marks 20% higher price on his sarees. He allows 10% discount to the coustomer and earns a profit of Rs. 56 The cost of the saree is-
A
Rs. 700
B
Rs. 600
C
Rs. 800
D
Rs. 1, 000
Question 7
Perpetual inventory system involves.....
A
bincard and stores ledger
B
bill of material and material requisition
C
purchase requisition and purchase order
D
inward and outward invoices
Question 8
A higher accounts receivable turnover ratio means.....
A
lower debt collection period
B
higher debt collection period
C
lower sales
D
higher sales
Question 9
Costing system, which is a combination of process costing and job costing system is classified as
A
weighted costing system
B
average costing system
C
hybrid costing system
D
double costing system
Question 10
Element/s of Cost of a product are:
A
Material only
B
Labour only
C
Expenses only
D
Material, Labour and expenses
Question 11
In expected future returns, tighter probability distribution shows risk on given investment which is
A
smaller
B
greater
C
less risky
D
highly risky
Question 12
Insurance is based on the principle of.....
A
Co-operation
B
Democracy
C
Equality
D
Welfare
Question 13
Is there any time limit for issue of notice under section 76 in cases where tax collected but not paid?
A
No time limit
B
1 year
C
3 years
D
5 years
Question 14
Cost unit of a sugar industry can be.....
A
per litre
B
per tonne
C
per acre
D
per metre
Question 15
Situation in which cost object has any job, customer or product is known as
A
cost application base
B
sale application base
C
price application base
D
direct application base
Question 16
Capital gain of Rs. 75 lakh arising from transfer of long term capital assets will be exempt from tax if such capital gain is invested in the bonds redeemable after three years, issued by NHAI u/s 54EC of the Act.
A
True
B
False
C
Cannot be said with certainty
D
Is decided by the Assessing Officer
Question 17
Most financial advisors are registered with the Securities and Exchange Commission as.....
A
registered representatives
B
registered investor advisors
C
registered financial planners
D
registered securities consultants
Question 18
What is/are the condition for availing ITC on the tax element involved in the stock held by a composition dealer under earlier law, if such dealer opts normal tax remittance in GST?
  1. Such stock should be taxable u
A
i, ii & iii
B
i, ii & iv
C
ii, iii & iv
D
i, ii, iii & iv
Question 19
Current ratio is a..... ratio
A
Trading account
B
Profit and loss
C
Profitability
D
Balance sheet
Question 20
Will a principal who sends moulds, dies, jigs, tools and fixtures to job worker's place liable to pay GST on such removal?
A
No, it is not a supply
B
Yes, if not received within time limit
C
No, as capital goods as referred in section 143 excludes moulds, dies, jigs tools and fixtures.
D
None of the above
There are 20 questions to complete.

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