Commerce online quiz 54

By | August 21, 2018

10000 MCQ /questions on commerce questions answers

Question 1
The prescribed normal time period for completing a departmental audit will be:
A
12 Months from the date of the commencement of audit
B
9 Months from the date of the commencement of audit
C
6 Months from the date of the commencement of audit
D
3 Months from the date of the commencement of audit
Question 2
Which of the following is an example of a company incorporated by a special act of parliament?
A
Delhi cloth and general mills ltd
B
Tata iron and steel Co Ltd
C
Industrial Finance Corporation of India Ltd
D
Swadesh Cotton Mills Ltd
Question 3
An appeal filed before the High Court should be heard by?
A
A Bench of not less than 2 judges based on majority opinion
B
A Bench of not less than 3 judges based on majority opinion
C
A Bench of not less than 5 judges based on majority opinion
D
A Bench of not less than 7 judges based on majority opinion
Question 4
Vertical dashed line in graphical representation of cost function represents the
A
cost representation
B
irrelevant range
C
relevant range
D
graphical representation
Question 5
Assets are usually listed on a balance sheet under two main groups namely..... and.....
A
fixed and current
B
current and fixed
C
tangible and intangible
D
none of these
Question 6
The details submitted by the outward supplier in Form GSTR 1 shall be furnished to the input service distributor in form
A
GSTR 4A
B
GSTR 5A
C
GSTR 2A
D
GSTR 6A
Question 7
The idealistic market envisioned at the outset of the development of e-commerce is called a.....
A
Bailey market
B
Baxter market
C
Bergman market
D
Bertrand market
Question 8
If a taxable person remitting tax in the normal scheme under earlier law switchover to composition scheme in the GST.How the tax element involved in the already ITC adjusted closing stock under earlier law will be treated?
A
Related tax element under earlier law is to be remitted back by debiting electronic credit ledger or electronic cash ledger.
B
The balance ITC in the electronic credit ledger will be lapsed
C
Both a) and b) Above
D
Related tax element under earlier law is to be refunded
Question 9
On 9th October 2013 RBI has announced set up a Technical Committee under the chairman ship of..... to examine the feasibility of encrypted SMS-based fund transfers.
A
Anand Sinha
B
Raghu Ram Rajan
C
Urjith Patel
D
Sambamurthy
Question 10
Who is authorised to conduct the audit including books of account u/s 66?
A
Chartered Accountant as may be nominated by the [Commissioner].
B
Cost Accountant as may be nominated by the [Commissioner].
C
(a) or (b)
D
Any officer as may be nominated by the [Additional Director].
Question 11
The short term money market comprise
A
The call money market
B
The inter bank deposit market
C
The bills re-discounting market
D
All of the above
Question 12
An effect of interest rate risk and investment risk on a bond's yield is classified as
A
reinvestment premium
B
investment risk premium
C
maturity risk premium
D
defaulter's premium
Question 13
First step in binomial approach of option pricing is to
A
define ending price of stock
B
define beginning price of stock
C
define range of values
D
define domain of values
Question 14
Project whose cash flows are less than capital invested for required rate of return then net present value will be
A
negative
B
zero
C
positive
D
independent
Question 15
Within what period should the mistake apparent on record be brought to the notice of the authority?
A
Three Months
B
Six Months
C
Depends-Three months in case of clerical error or arithmetical error and six months in other case
D
None of the above
Question 16
Every registered taxable person shall display his certificate of registration in a prominent location at his principal and at every other place of business also GSTIN shall be displayed on the name board at the entry of such places.
A
No, certificate of registration to be displayed only at a registered place of business and GSTIN need not be displayed on the name board.
B
Yes above statement is correct.
C
No, GSTIN to be displayed only on the invoices.
D
Above statement is correct subject to certificate of registration to be displayed only at registered place of business.
Question 17
Consider the following steps:
  1. Analysis of variances
  2. Initiating corrective action
  3. Measurement of Actual performance
  4. Establishment of standards
What is the sequence of steps?
A
1, 2, 3, 4
B
2, 3, 1, 4
C
3, 1, 2, 4
D
4, 3, 1, 2
Question 18
Bill of Exchange, Promissory Notes and Cheques are defined as
A
Negotiable Instruments
B
Trust Receipts
C
Documents of Title to goods
D
None of the above
Question 19
In a joint process of production, product which yields low volume of sales as compared to total sales of other products is known as
A
Second incremental product
B
First incremental product
C
step down product
D
by-product
Question 20
Which among the following is not a voluntary method for prevention and settlement of disputes?
A
Collective Bargaining
B
Standing Orders
C
Joint Consultation
D
Works Committee
There are 20 questions to complete.

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