Commerce Knowledge Test
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 8% • Most missed: “The main advantage of functional organisation is-“”
Commerce Knowledge Test
Time left 00:00
25 Questions

1. First of all - the Income Tax Act was passed in independent India-“
2. The concept of mixed economy means-“
3. Whenever data deals with speed - distance and time then the best average is-“
4. If average cost is falling then-“
5. The famous book 'General and Industrial Management' was written by-“
6. Which of the following is not viewed as a national debt?
7. Sum received from sale of agricultural land shal be covered under the categories of following income-“
8. The most appropriate measure of a country's economic growth is its-“
9. Business means-“
10. The works manager gets commission of 10% on the profits after charging such commission. If the profit is Rs. 2200 what is the amount of commission-“
11. 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.
12. When funds from operations are Rs. 42 - 000 and amount of depreciation on plant and machinery is Rs. 5000. What is the amount of net profit.
13. A company redeemed its preference share capital Rs. 2 - 00 - 000 for which purpose it raised equity capital of Rs. 1 - 50 - 000. It also issued bonus shares of the value of Rs. 1 - 00 - 000. These transactions will have the net effect on the flow of funds is follows-“
14. Given fixed long term liabilities Rs. 5 - 00 - 000 fixed assets Rs. 12 - 00 - 000 - capital Rs. 8 - 50 - 000 - current liabilities Rs. 2 - 50 - 000 current assets Rs. 4 - 00 - 000. Solvency ratio is-“
15. Which of the following should not be considered in a make or buy decision ?
16. Delegation of authority results in-“
17. A minor's income shall be included in the guardian assessee's income if it-“
18. Given January 1 December 31 Assets 30 - 000 Liabilities 13 - 000 Capital 16 - 500 Withdrawals by onwer during the year are Rs. 4000. What is the amount of capital on January 1 ?
19. 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)-“
20. Assets of a business are Rs. 21315 and liabilities Rs. 4 - 120. What is the amount of owner's equity?
21. The crucial determinant of the size of the market is-“
22. Share of partner in the income of partnership firm shall be-“
23. Investment by owner results in-“
24. To obtain the break even point in rupee sales value - total fixed costs are divided by-“
25. Charging of capital expenditure to revenue results in-“

⚡ Recently practiced quizzes in this topic
Live quiz activity
HIT Terminology
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.