Commerce online quiz 43

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
In case of amalgamation between two companies, such companies shall be treated as two distinct companies till-
A
Till the date of the High Court order
B
Till the effective date of merger
C
Till the date of cancellation of registration
D
None of the above
Question 2
As we all know, when we doposit a cheque issued in oru name in the bank, the bank always checks if the cheque has been crossed or not. Why is this done?
A
It ensures that the money is deposited only in the account of the person in whose name the cheque has been drawn.
B
It is a process by which the person who has issued the cheque comes to know whether the cheque is encashed or not.
C
The bank insists on it only when the party wants the payment immediately and that too in cash only.
D
This is the instruction of RBI that all the cheques of the amount of Rs. 10, 000 should be accepted only if they are crossed.
Question 3
Which of the following factors influence(s) the capital structure of a business entity?
A
Bargaining power with the suppliers
B
Demand for the product of the company
C
Technology adopted
D
Adequate of the assets to meet any sudden spurt in demand
Question 4
What is the process of making a copy of the information stored on a computer?
A
Backup
B
Anti-virus
C
Firewall
D
Biometrics
Question 5
Consider the following statements: Audit working papers are maintained because
  1. they act as a guide to subsequent audit.
  2. they verify the arithmetical accuracy of the books of accounts.
  3. they provide evidence
A
1 and 2
B
2 and 3
C
l and 3
D
l, 2 and3
Question 6
Purchase order lead time is multiplied to number of units is sold per unit of time to calculate
A
carrying costs
B
relevant total costs
C
economic order quantity
D
reorder point
Question 7
The first Stock Exchange in India was established in-
A
Kolkata
B
Delhi
C
Mumbai
D
Chennai
Question 8
The tool used by auditor to monitor and control the progress of audit work is-
A
Engagement diary
B
Audit programme
C
Audit working papers
D
Audit notes.
Question 9
A security plan begins with a(n) is.....
A
security policy
B
risk assessment
C
implementation plan
D
security organization
Question 10
Direct labour and salary outlays direct material purchases, which are classified as
A
price disbursements
B
cash disbursements
C
budget disbursements
D
goods disbursements
Question 11
When is a service transaction deemed to have been initiated before commencement of IGST Act?
A
When invoice relating to such supply has been received or made before IGST has come into existence
B
Payment is made/ received either in part or full before IGST has come into existence
C
Both of the Above
D
Any one of the Above
Question 12
Unsuccessful research expenditure should be.. cost accounts.
A
Excluded from
B
included in
C
apportioned in
D
none of these
Question 13
The volume of sales is influenced by..... of a firm.
A
finance policy
B
credit policy
C
profit policy
D
fund policy
Question 14
The rate of gross profit is 20% on sales and the cost of goods sold is Rs. 1, 00, 000, the amount of gross profit will be-
A
Rs. 30, 000
B
Rs. 25, 000
C
Rs. 20, 000
D
Rs. 16, 667
Question 15
Long term capital gains arising from units of debt-oriented equity funds for which securities transactions tax has been paid in a recognized stock exchange is exempt.
A
True
B
False
C
Cannot be said with certainty
D
Is decided by the Assessing Officer
Question 16
The term..... is generally used for the depreciation of natural resources
A
Amortization
B
Depletion
C
Appreciation
D
Disposal value
Question 17
Is there any ban on disclosure and use of information collected in the form of information return?
  1. No. Such information can be used for all GST purposes except publishing such information
  2. Yes. Such information c
A
i, ii & iii
B
ii & iv
C
iii & v
D
ii, iv & v
Question 18
Intangible assets such as copyrights, trademarks and patents are applicable for
A
depreciation
B
amortization
C
stock amortization
D
perishable assets
Question 19
Which Bank launches voice password facility for users?
A
Axis
B
ICICI
C
HDFC
D
Kotak Mahindra Bank
Question 20
Claim against assets are represented by
A
saved earning
B
retained earnings
C
maintained earnings
D
saving account earning
There are 20 questions to complete.

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