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. Which of the following assets in usually not depreciated-“
2. The internal auditor of a joint stock company-“
3. Closing stock Rs. 53 - 400 cost of Goods sold Rs. 75 - 000 - Gross profit Rs. 5 - 000 - Purchases Rs. 82 - 000 What is the amount of opening stock-“
4. 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.
5. 'Open Market Operations' is a part of-“
6. Interim dividend is shown-“
7. Say's law of market holds that-“
8. National income in India is estimated by-“
9. Cash received from debtors is Rs. 12 - 000 and furniture purchased is Rs. 7 - 000. What is the net effect on the flow of funds?
10. The mean of the following distribution is-“ X : 145 155 165 175 F : 10 12 15 10
11. Goodwill account is a-“
12. Mr. Pawan was born on April 18 - 1986 in India and later on he took the citizenship of USA. Neither his parents nor his grand parents were born in undivided India. In this case Mr. Paw an shall be-“
13. If profits are 25% of selling price - what is the percentage of profit to cost?
14. If average cost is falling then-“
15. Delegation of authority results in-“
16. X Ltd. purchased land and building worth Rs. 28 - 80 - 000 and in lieu issued debentures of Rs. 100 each at a discount of 4%. What is the number of debentures issued-“
17. The main drawback of functional organization developed by Taylor is that it fails to recognise-“
18. Which of the following committees examined and suggested Financial sector reforms in India-“
19. Which of the following are current liabilities?
20. Which of the following is not viewed as a national debt?
21. Year ending on March 31st immediately prior to assessment year is called-“
22. Sum received from sale of agricultural land shal be covered under the categories of following income-“
23. Which of the following equation is correct?
24. Which of the following is an equation?
25. 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-“

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