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Commerce Knowledge Test
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Commerce Knowledge Test
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25 Questions

1. 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-“
2. Span of management means-“
3. The policy that has been the most successful in increasing agricultural output in developing country is-“
4. Expenditure incurred by a publisher for acquiring copyrights is a-“
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. The average value of -“4 - -“3 - 0 - 3 - 4 is-“
7. In case of women assessee her agricultural income of Rs. 8000 shall be included in her total income if her total income is more than the following-“
8. Which of the following assets in usually not depreciated-“
9. A minor's income shall be included in the guardian assessee's income if it-“
10. 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-“
11. Which of the following committees examined and suggested Financial sector reforms in India-“
12. The record of country's transactions in goods - services and assets with the rest of the world is its-“
13. Which of the following is not viewed as a national debt?
14. 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-“
15. Goodwill account is a-“
16. Which of the following is an economic barometer-“
17. Assuming there is no government or foreign sector - if the MPC is 0.8 - the multiplier is-“
18. Any balance in the share forfeiture account after all the forfeiture shares are re-issued should be-“
19. All the following are examples of fixed costs except-“
20. If government spending is increased by Rs. 700 and taxes are increased by Rs. 700 the equilibrium level of income will-“
21. Time series deals with-“
22. The internal auditor of a joint stock company-“
23. A partner in a firm-“
24. 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 ?
25. Share forfeited account is shown on the liability side of the balance sheet-“

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