10000 MCQ /questions on commerce questions answers
Allotment of overhead incurred for a particular cost centre to that specific cost centre is.....
Added value is the change in
none of the above.
A business competing in a commodity like environment must focus on which of the following?
Ease / speed of delivery
Ease of ordering
all of the above
Standard costing is a technique of-
Operating cost is usually ascertained through.....
a ledger account
profit and loss a/c
an insurance scheme to insure bank deposits
an insurance scheme exclusively for the employees banks
a composite financial service offering both bank and insurance products
a bank deposit scheme exclusively for employees of insurance companies
Which of the following is not a transaction?
Goods are purchased on cash basis for Rs.1000
Salaries are paid for the month of May 2010
Land is purchased for Rs. 10 lacs
An employee dismissed from the job
The following statement with respect to currency option is wrong
Call option will be used by exporters.
Put option gives the buyer the right to sell the foreign currency.
Foreign currency-Rupee option is available in India.
An American option can be executed on any day during its currency.
An expenditure is treated as that of a capital nature, when
the receiver of the amount is going to use it for the purchase of fixed assets,
it increases the quantity of fixed assets,
it is paid for meeting the normal expenses of the business,
none of these.
The Tax wrongly paid under IGST instead of Tax on intra-state (Local) supply-How it will be treated in the GST?
Automatic System Adjustment
Online Withdrawal as and when required
Any of the Above.
Which of the following is NOT a requirement for claiming the exemption from GST on job work?
Job work should be for a specified purposes such as processing, testing, repair, etc
Goods should be returned after completion with six months or such extended period
Manufacturer should declare the details of inputs held in stock by the job worker on behalf of manufacturer
Job work should pay the GST even on returning the goods within the period of six months from appointed date
The market process involves which functions
- Risk hearing
i, ii, v and vii
i, iv, v and vii
i, ii, iii, v, vi and vii
All of the above
Which one of the following is NOT true about revenue expenditure?
These are the running expenses of the business
They improve the financial position of the business
They reduce the profit of the concern
They do not appear in the balance sheet
The type of social network described as a community built around a common interest such as games, sports, music, and so on is called.....
interest-based social network
Value of stock as concluded with help of analysis by particular investor is classified as
Both B and C
A usage of proceeds of new issue to retire issue with high-rate is classified as
Who has the power to amend the order issued under section 98 or 101, to rectify any error apparent from record?
Advance Ruling Authority
Appellate Authority for the Advance Ruling
Authority or, as the case may be, the Appellate Authority.
None of the above.
"Business ethics is related with the test of values or social values." Who said it?
Peter F. Drucker
J. R. Betty
Providing free samples of perfumes (scent) in magazines is an example of which of the following?
Can a registered person under Composition Scheme claim input tax credit?
Input tax credit on inward supply of goods only can be claimed
Input tax credit on inward supply of services only can be claimed
There are 20 questions to complete.