10000 MCQ /questions on commerce questions answers
The details of every credit note relating to outward supplies furnished by the registered taxable person shall be matched
With corresponding reduction in claim for input tax credit by the corresponding taxable person in his valid return for the same tax period or any subsequent tax period.
For duplication of claims for reduction in the output tax liability
All of the above
None of the above
In GST IPT will be allowed only on the basis of Matching Principles. It allows IPT on Manual Basis only in the case of:
New Registrants who had crossed taxable limits even before getting GSTIN due to delay from the part of the department
Technologies that help enhance resolution of e-book reader display screens are known as.....
high-res pixel formatting
screen resolution technologies
sub-screen smoothing technologies
sub-pixel display technologies
After re-issue of forfeited shares the balance of forfeited share account is transferred to-
Profit K: Loss A/c
None of these
Which method of costing can be used in furniture manufacture industry?
Specific order costing
A nominal partner is.....
not entitled to share the profits of the concern
entitled to equal share in the profits unless there is an agreement to any other profit sharing ratio
not liable for the acts of other partners
not able to third parties
Which one is revenue expenditure?
Interest on capital,
Cost of building
installation expenses of mechanic purchased,
price of new car purchased for the M.D.
The exchange rate prevailing at a financial reporting date
Closing exchange rate
Opening exchange rate
Fixed exchange rate
Fluctuating exchange rate
Inspections, Search and seizure operations under GST are to be authorised by a CGST/SGST Officer not below the rank of.....
Which of the following is not a limitation of the current Internet?
insufficient capacity throughout the backbone
network architecture limitations
better administration of budget in budgeting plans require
all of above
"BDL Ltd. is currently preparing its cash budget for the year to 31 March 20XX. An extract from its sales budget for the same year shows the following sales values. Rs March 60, 000 April 70, 000 May 55, 000 June 65, 000 40% of its sales are expected to be f
Rs. 60, 532
Rs. 61, 120
Rs. 66, 532
Rs. 86, 620
Taylors differential piece rate system provides for higher rate to.....workers.
Both (A) and (B)
Where an option is out of the money
The premium will be refunded to the buyer.
The buyer is unable to take up the contract
The seller gains to the extent of the premium received.
No further purchase by the buyer is permitted.
Management by exception is exercising control over..
all of these
Bombay Stock Exchange Sensex consists of...... script as on 31st March, 2005.
The 'substitution effect' takes place due to change in
Income of the consumers
Prices of the commodity
Relative prices of the commodities
All of the above
Job costing method is the most suitable method for.....
oil process units
If number of units are 3000 and per unit price is $500, then flexible budget variable will be
$1, 500, 000
$2, 500, 000
$3, 500, 000
$4, 500, 000
Can Mr. A avail credit on Input services or capital goods held in stock, in case of new registration/voluntary Registration
Yes on Input services only
Yes on capital goods only
There are 20 questions to complete.