Commerce Knowledge Test
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Avg score: 8% • Most missed: “The main advantage of functional organisation is-“”
Commerce Knowledge Test
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25 Questions

1. Interest on single savings account in post office is exempt upto the following limit-“
2. Which of the following equation is correct?
3. Which of the following are current liabilities?
4. The slope at any point on an indifference curve is known an-“
5. Bank overdraft should be classified as-“
6. Asset cost Rs. 21 - 000 Scrap value Rs. 1 - 000 Depreciation rate 10% p. a. What is the amount of depreciation for the first year if straight line method is used ?
7. Who is called the Father of Economics?
8. All the following are examples of profit centres within an airlines except-“
9. According to Income Tax Act which of the following are agricultural incomes-“
10. Assets of a business are Rs. 21315 and liabilities Rs. 4 - 120. What is the amount of owner's equity?
11. A minor's income shall be included in the guardian assessee's income if it-“
12. The policy that has been the most successful in increasing agricultural output in developing country is-“
13. The famous book 'General and Industrial Management' was written by-“
14. A firm which makes boats has fixed cost of Rs. 2 - 60 - 000 per month. The product sells for Rs. 35 - 000 per boat and the variable cost of production is Rs. 15 - 000 per boat. The boat yard can manufacture 20 boats each month. What is the firm's break even output?
15. Which of the following goods or services could not be provided by a pure free market economy-“
16. When capital in the beginning is Rs. 10 - 500 - drawings during the year Rs. 6 - 500 and fresh capital introduced Rs. 3 - 500. What is the amount of capital at the end assuming no profit or loss.
17. Given net profit Rs. 1 - 50 - 000 - preference dividend Rs. 25 - 000 taxes Rs. 10 - 000 - Equity capital (Rs.10 each) - Rs. 10 - 00 - 000 what is the Earning per share (EPS)-“
18. When quick ratio is 1.5 : 1 and the amount of quick assets Rs. 30 - 000 - what is the amount of quick liabilities?
19. Economic liberalisation in India started with-“
20. If the cost of goods sold in Rs. 1 - 20 - 000 and the rate of gross is 1/4 on sales - the amount of sales is-“
21. The term 'funds' as used in 'funds flow statement' means-“
22. The flow of fund is said to have taken place when-“
23. The crucial determinant of the size of the market is-“
24. In case of inferior goods the income elasticity of demand is-“
25. When net sales for the year are Rs. 2 - 50 - 000 and debtors Rs. 50 - 000 the average collection period is-“

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