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Commerce Questions for Competitive Exams
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Commerce Questions for Competitive Exams
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1. 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-“
2. Under which one of the following is the term -˜Dominant Undertaking-™ defined ?
3. Under capitalization can be remedied by-“
4. The most important economic function of stock exchange is to-“
5. The break even point is the point at which-“
6. 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 ?
7. Which of the following committees examined and suggested Financial sector reforms in India-“
8. The record of country's transactions in goods - services and assets with the rest of the world is its-“
9. An entry to Rs. 500 was wrongly posted to wages account instead of machinery account - as wages are to be capitalized it is an error of-“
10. When does a body corporate become capable forthwith of exercising all the functions of a company ?
11. The internal auditor of a joint stock company-“
12. When net sales for the year are Rs. 2 - 50 - 000 and debtors Rs. 50 - 000 the average collection period is-“
13. Net profit after tax of Rs. 2 - 00 - 000 is Rs. 4 - 00 - 000. Share capital is Rs. 8 - 00 - 000 and revenue reserve is Rs. 2 - 00 - 000. What is rate of return on equity ?
14. When quick ratio is 1.5 : 1 and the amount of quick assets Rs. 30 - 000 - what is the amount of quick liabilities?
15. What is the amount of gross profit or loss when-“ Cost of Goods sold = 7900 Sales = 11000 Purchases = 3000
16. Which of the following goods or services could not be provided by a pure free market economy-“
17. Goodwill account is a-“
18. 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-“
19. 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-“
20. Interest on single savings account in post office is exempt upto the following limit-“
21. How is profit prior to incorporation treated as ?
22. What is Director Identification Number (DIN) ?
23. Debtors turnover ratio is 4. What is the average collection period ?
24. Which of the following is an economic barometer-“
25. In a free market economy the allocation of resources is deter-mined by-“

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