Commerce online quiz 339

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
Which of the following is not necessary pre-requisite in respect of upward price revision during transition period?
A
Supplier should supplementary issue invoice or debit note
B
Such document should be raised within 30 days of price revision
C
Contract should have entered prior to appointed date
D
Supplier should revise earlier return and pay tax on differential
Question 2
All but one of the following are assumed to remain the same while drawing an individual's demand curve for a commodity. Which one is it?
A
The preferences of the individual
B
His monetary income
C
The price of the commodity under consideration
D
The prices of other goods
Question 3
The expected return on an investment in stock is.....
A
the expected dividend payments
B
the anticipated capital gains
C
the sum of expected dividends and capital gains
D
less than the realized return
Question 4
Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as
A
economic accounting
B
back-flush accounting
C
lean accounting
D
lead accounting
Question 5
Marketing research does not normally
A
Gather environmental information
B
Provide a continuous source of information
C
Relate to all aspects of marketing operations
D
Describe the current situation
Question 6
A credit note is issued by..... and it is a document accepted for GST purposes:
A
Recipient, for reducing the tax/ taxable value;
B
Supplier, for reducing the tax/ taxable value;
C
Supplier, for increasing the tax/ taxable value;
D
Recipient, for increasing the tax/ taxable value.
Question 7
M3 currency is also called as.....
A
Narrow Money
B
Smart Money
C
Broad Money
D
Hard Money
Question 8
In perfect competition, the firm's..... above AVC has the identical shape of the firm's supply curve
A
Marginal revenue curve
B
Marginal cost curve
C
Average cost curve
D
None of the above
Question 9
Which one of the following is correct with respect to going concern convention?
A
The enterprise is not going to terminate its operations in the period ahead
B
The enterprise may go out of business in the next accounting period
C
The enterprise may not divest or diversify its operational spheres
D
The enterprise may not revalue its assets during the current accounting period
Question 10
The concept of imperfect competition was developed by
A
Marshall
B
Jevons
C
Joan Robinson
D
Mrs. Lillian Gilbreth
Question 11
The details of outward supplies of goods or services shall be submitted by
A
10th of the succeeding month
B
18th of the succeeding month
C
15th of the succeeding month
D
20th of the succeeding month
Question 12
An original investment is Rs 30 and an expected capital gain is Rs 10 then an expected final stock price will be
A
Rs 20.00
B
Rs 40.00
C
-Rs 40.00
D
-Rs 20.00
Question 13
Fixed cost in the same proportion in which output changes.
A
does not change
B
changes
C
increases
D
none of these.
Question 14
Identify the aspect of taxation which is related to normative economics
A
Incidence of tax
B
Effect of tax on the capacity willingness to work
C
Equity of tax
D
None of the above
Question 15
Operating leverage measures.....
A
business risk
B
financial risk
C
both risks
D
production risk
Question 16
These days RBI uses Selective credit control measures rather infrequently because of:
A
Deregulation of functions
B
Autonomy given to banks
C
Comfortable liquidity
D
All the above
Question 17
In case the e-commerce operator agrees to bear a part of the discount offered by the supplier on the products, is the ecommerce operator required to collect tax at source on such discount borne by him?
A
Yes, as this can be considered as consideration received from the customer
B
No, this cannot be considered as consideration received from the customer
C
Partially true
D
None of the above
Question 18
If budgeted annual manufacturing indirect cost is $2250000 and cost allocation base is 2800 labour hour, then budgeted manufacturing overhead rate will be
A
$803.571 per labour hour
B
$805 per labour hour
C
$905 per labour hour
D
$802 per labour hour
Question 19
Where no document of title of goods are enclosed to the bill, it is called
A
Clean bill
B
Demand bill
C
Trade bill
D
Accommodation bill
Question 20
In case of some notified category of taxable persons making exports, what proportion of the refund excluding provisional ITC claim will be granted without any document verifications?
A
20%
B
40%
C
60%
D
80%
There are 20 questions to complete.

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