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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. For which of the following purpose - share premium can be used?
2. Which of the following is not viewed as a national debt?
3. Monopolist can determine-“
4. When opening stock is Rs. 50 - 000 - closing stock Rs. 60 - 000 and cost of goods sold Rs. 2 - 20 - 000 - the stock turnover ratio is-“
5. Charging of capital expenditure to revenue results in-“
6. The concept of mixed economy means-“
7. X Ltd. forfeited. 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These shares are re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to capital reserve account.
8. Interest on single savings account in post office is exempt upto the following limit-“
9. Business means-“
10. The function of staff in line the staff organization is-“
11. The burden of tax falls more heavily on the seller in a market when-“
12. 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 ?
13. The most appropriate measure of a country's economic growth is its-“
14. Which of the following goods or services could not be provided by a pure free market economy-“
15. The existence of a joint stock company is interrupted by-“
16. The main advantage of functional organisation is-“
17. Which of the following are current liabilities?
18. Investment according to Keynesian theory is-“
19. Share of partner in the income of partnership firm shall be-“
20. Say's law of market holds that-“
21. All the following are examples of profit centres within an airlines except-“
22. 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.
23. 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-“
24. When net sales for the year are Rs. 2 - 50 - 000 and debtors Rs. 50 - 000 the average collection period is-“
25. Table A of the companies Act can be adopted for-“

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