Commerce online quiz 337

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Internal Audit is provided for in the-
A
Companies Act
B
Partnership Act
C
Both (A) and (B)
D
Neither (A) nor (b)
Question 2
Cost of production is equal to.....
A
works overhead plus administration overheads
B
Prime cost plus Works cost
C
prime cost plus works overhead
D
Works cost plus Administration Overheads
Question 3
Which one of the following statements about preparation of financial statements of a limited liability company is correct?
A
Financial statements should be prepared according to the cash basis of accounting only
B
Financial statements should be prepared according to the accrual basis of accounting only
C
Financial statements should be prepared according to either the cash basis or accrual basis of accounting
D
Financial statements should be prepared according to both the accrual and cash basis of accounting
Question 4
A Company is called an artificial person because.....
A
It does not have the shape of a natural person
B
It cannot be used in the court of law
C
It is invisible and intangible
D
It exists only in contemplation of law
Question 5
..... is a machine which process text material on a page when operator strikes keys are arranged on the key boards.
A
Typewriter
B
Photocopier
C
Roller copier
D
Private
Question 6
Decrease in cash reserve ratio might lead to
  1. Increase in credit creation
  2. Decrease in M3
  3. Increase in M3 / M0
  4. Increase in interest rate
A
1, 2, 3
B
2, 3, 4
C
1, 3
D
1, 2, 4
Question 7
"Calculate the prime cost from the following information: Direct material purchased: Rs. 1, 00, 000. Direct material consumed: Rs. 90, 000. Direct labour: Rs. 60, 000. Direct expenses: Rs. 20, 000. Manufacturing overheads: Rs. 30, 000."
A
Rs. 1, 80, 000
B
Rs. 2, 00, 000
C
Rs. 1, 70, 000
D
Rs. 2, 10, 000
Question 8
''Sensitive Index'' of Bombay Stock Exchange is called.....
A
Forex
B
MAX
C
LIBOR
D
Sensex
Question 9
The dealers liable to make estimated Advance Tax Remittance to obtain GST Registration are:
A
ISD
B
Dealers having Business Verticals
C
Casual Dealers and Non-Resident Taxable Person
D
E-Commerce Operator and Aggregator of Branded Services
Question 10
The Reserve Bank hiked the limit for foreign investment in Asset Reconstruction Companies (ARCs) from the earlier cap of 49 percent to?
A
74 %
B
47%
C
57%
D
72%
Question 11
Multiple costing is a technique of using two or more costing methods for ascertainment of cost by.....
A
the same firm
B
the several firms
C
the same industry
D
the several industries
Question 12
Loan taken by the person, not telling the purpose of taking loan is called?
A
Impersonal Loan
B
NPA
C
Personal Loan
D
Concealed Loan
Question 13
Reserve Bank of India (RBI) was established on the recommendations of.....
A
U.K.Patel Committee
B
Hilton Young Commission
C
S.Chetty Commission
D
None of these
Question 14
R Ltd., is registered in U.K. The control and management of its affairs is situated in India.R Ltd. shall be
A
Resident in India
B
Non-resident
C
Not ordinarily resident in India
D
None of the above
Question 15
The formula for coefficient of variation is?
A
Standard Deviation/ Mean
B
Mean/ Standard Deviation
C
(Mean-Mode)/ Standard Deviation
D
Standard Deviation/ (Mean-Mode)
Question 16
Asia's first credit card with Visa Code launched by?
A
ICICI
B
Axis Bank
C
Karnataka Bank Ltd
D
SBI
Question 17
When can assistance of expert be taken?
  1. Scrutiny
  2. Inquiry
  3. Investigation
  4. Before passing Order
A
i, ii & iii
B
i, ii & iv
C
ii, iii & iv
D
i, ii, iii & iv
Question 18
A stock which is issued to meet specific needs of company is considered as
A
classified stock
B
specific stock
C
needed stock
D
meeting stock
Question 19
According to behavioral scientists, organization means the structure of:
A
physical facilities
B
tasks and relationships
C
behaviour of the management with the working force
D
attitude of workers with the management
Question 20
When sale is Rs. 4, 80, 000, gross loss is 25% on cost, purchase is Rs. 3, 50, 000 and closing stock is Rs. 60, 000, the stock in the beginning would be-
A
Rs. 70, 000
B
Rs. 94, 000
C
Rs. 1, 34, 000
D
Rs. 3, 50, 000
There are 20 questions to complete.

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