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Commerce Questions for Competitive Exams
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Commerce Questions for Competitive Exams
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25 Questions

1. If profits are 25% of selling price - what is the percentage of profit to cost?
2. Which one of the following statements is correct ?
3. Which of the following is not a part of the usual contents of the current file and audit working papers ?
4. 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 ?
5. 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-“
6. What does payout ratio mean ?
7. 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-“
8. The break even point is the point at which-“
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. The slope at any point on an indifference curve is known an-“
11. 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 ?
12. A very senior citizen shall be that individual for purpose of Income Tax whose age is More than following-“
13. What is the new ratio among X - Y and Z ?
14. What is reduction of paid-up share capital called ?
15. Under which one of the following is the term -˜Dominant Undertaking-™ defined ?
16. What is the amount of gross profit or loss when-“ Cost of Goods sold = 7900 Sales = 11000 Purchases = 3000
17. A firm's average total cost is Rs. 30 at 5 units of output and Rs. 32 at 6 units of output. The marginal cost of producing 6th units is-“
18. Assuming there is no government or foreign sector - if the MPC is 0.8 - the multiplier is-“
19. First of all - the Income Tax Act was passed in independent India-“
20. Opening stock Rs. 15000 Purchases Rs. 40000 Cost of golds sold Rs. 52000 Sales Rs. 57000 What is the amount of gross profit or loss-“
21. 'Control' function of management cannot be performed without-“
22. According to Income Tax Act which of the following are agricultural incomes-“
23. 'Open Market Operations' is a part of-“
24. Which one of the following is not one of the elements of the 7S McKinsey Model for analyzing and improving organizational effectiveness ?
25. Government grants related to income as per the Accounting Standard (AS)-12 should be-”

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