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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. The concept of mixed economy means-“
2. Which of the following is an economic barometer-“
3. Government grants related to income as per the Accounting Standard (AS)-12 should be-”
4. Economic liberalisation in India started with-“
5. If an increase in the price of blue jeans leads to an increase in the demand for tennis shoes - then blue jeans and tennis shoes are-“
6. According to the Accounting Standard (AS)-2 - the inventory is to be valued at which one of the following ?
7. A limited company makes a net profit of Rs. 2 - 00 - 000 after writing off preliminary expenses amounting to Rs. 20 - 000 and providing for depreciation on assets amounting to Rs. 40 - 000 and gain of Rs. 10 - 000 on sale of a piece of machinery. What are the funds from operation ?
8. Table A of the companies Act can be adopted for-“
9. Time series deals with-“
10. The total sum of the goods and services produced within a country in a year minus depreciation is called the-“
11. 'Control' function of management cannot be performed without-“
12. Classification of employees according to education and skill is called-“
13. 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?
14. 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 ?
15. Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ?
16. Which of the following equation is correct?
17. A valid definition of a business purpose is to-“
18. The record of country's transactions in goods - services and assets with the rest of the world is its-“
19. Year ending on March 31st immediately prior to assessment year is called-“
20. A Ltd. issued prospectus inviting applications for 2000 shares. Applications were received for 3000 shares and pro-rata allotment was made on the application for 2400 shares. If Ramesh had been alloted 40 shares - how many shares he must have applied for?
21. Which of the following is not a feature of bonds ?
22. 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 ?
23. The internal auditor of a joint stock company-“
24. Following percentage in tea production is treated agricultural income.
25. Under capitalization can be remedied by-“

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