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Commerce Questions for Competitive Exams
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Commerce Questions for Competitive Exams
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1. The record of country's transactions in goods - services and assets with the rest of the world is its-“
2. The total sum of the goods and services produced within a country in a year minus depreciation is called the-“
3. The income tax deducted from interest paid on debentures is shown on the-“
4. What is reduction of paid-up share capital called ?
5. Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ?
6. The concept of mixed economy means-“
7. Charging of capital expenditure to revenue results in-“
8. Business means-“
9. When does a body corporate become capable forthwith of exercising all the functions of a company ?
10. The net assets of a business on Jan. 1 and Jan. 31 are Rs. 39 - 000 and Rs. 38 - 000 respectively. Additional investment by owner and withdrawal by owner during Jan. amount to Rs. 2000 and Rs. 6000 respectively. What is the net income for Jan. ?
11. Some organizations have escalator clause in their labour agreements. What does this clause provide for ?
12. Which one of the following is not included in the internal check as regards purchases ?
13. Which one of the following has replaced the Budla system in India ?
14. Sometimes an auditor is called upon to review the operations of an enterprise for evaluating their cost-effectiveness. What is this kind of audit generally known as ?
15. The opportunity cost of holding money is determined by-“
16. The agricultural income is exempt under the following section of IT Act-“
17. An insurance claim of Rs. 300 was accepted in respect of stock (inventory) of Rs. 500 - which was destroyed by fire. Rs. 200 not covered by insurance should be debited to which one of the following ?
18. What is an organization structure in which each employee reports to both a functional (or division) manager and to a project (or group) manager - known as ?
19. A firm has a variable cost of Rs. 100 at 5 units of output. If fixed cost is Rs. 40 what will be the average total cost at 5 units of output-“
20. The existence of a joint stock company is interrupted by-“
21. If the cost of goods sold is Rs. 1 - 20;000 and the rate of gross loss is Rs. ¼ of sales the amount of sales is-“
22. The term fixed assets include-“
23. In an open economy - the national income (Y) of the economy is (C - I - G - X - M stand for Consumption - Investment - Government expenditure - total exports and total imports respectively)-“
24. The most appropriate measure of a country's economic growth is its-“
25. What is Capital Redemption Reserve Account available for ?

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