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Past Years Commerce Questions Set -3
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Past Years Commerce Questions Set -3
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25 Questions

1. What is the renewal fees paid for a patent right ?
2. 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 ?
3. Under which principle all the rights of an insured are transferred to insurance company after making payment of claim ?
4. When does a body corporate become capable forthwith of exercising all the functions of a company ?
5. Which one of the following is not included in the internal check as regards purchases ?
6. Expenses need to be recorded in the period in which the associated revenues are recognised. This is to be ensured as per which one of the following accounting principles ?
7. Which one of the following statements is correct ?
8. What is Director Identification Number (DIN) ?
9. In foreign trade what is the price quoted by a supplier which includes all charges incurred up to door delivery of goods to the buyer called ?
10. Life insurance is a contract of which one of the following ?
11. Net profit after tax of Rs. 200000 is Rs. 400000. Share capital is Rs. 800000 and revenue reserve is Rs. 200000. What is rate of return on equity ?
12. Under which of the following methods of depreciation the amount of an asset is never reduced to zero ?
13. Under which one of the following is the term -˜Dominant Undertaking-™ defined ?
14. Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ?
15. Members of a company may apply to which one among the following for relief under the Companies Act 1956 in cases of oppression ?
16. What is the theory of social responsibility that focuses on how companies respond to issues rather than trying to determine their ultimate social responsibility called ?
17. According to the Accounting Standard (AS)-2 the inventory is to be valued at which one of the following ?
18. Which among the following is eligible to issue Shelf Prospectus ?
19. Which one of the following transactions changes the current ratio ?
20. Which of the following represents corporate sustainable reporting ?
21. What is reduction of paid-up share capital called ?
22. 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 ?
23. X and Y sharing profits in the ratio of 7 : 3 admit Z on 37th share in the new firm. Z takes 27 th from X and 17th from Y. What is the new ratio among X Y and Z ?
24. Which of the following is not a feature of bonds ?
25. What is a systematic evaluation of a company's activities in a given area of social interest such as environmental protection workplace safety or community involvement called ?

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