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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. 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-“
2. Share forfeited account is shown on the liability side of the balance sheet-“
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. A partner in a firm-“
5. What is the slope of AR (Average revenue) curve in monopoly?
6. The main drawback of functional organization developed by Taylor is that it fails to recognise-“
7. Under capitalization can be remedied by-“
8. 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-“
9. Charging of capital expenditure to revenue results in-“
10. During a period of rising prices - which inventory pricing method will result in lower total current assets-“
11. Sum received from sale of agricultural land shal be covered under the categories of following income-“
12. Table A of the companies Act can be adopted for-“
13. For which of the following purpose - share premium can be used?
14. Which of the following is an extractive industry?
15. The term fixed assets include-“
16. Which of the following equation is correct?
17. 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?
18. The mean of the following distribution is-“ X : 145 155 165 175 F : 10 12 15 10
19. Which of the following is not included in infrastructure in India?
20. Consumer surplus is the area in graph-“
21. Salary payable by Government of India to an Indian Citizen for services outside India-“
22. When quick ratio is 1.5 : 1 and the amount of quick assets Rs. 30 - 000 - what is the amount of quick liabilities?
23. Goodwill account is a-“
24. A company redeemed its preference share capital Rs. 2 - 00 - 000 for which purpose it raised equity capital of Rs. 1 - 50 - 000. It also issued bonus shares of the value of Rs. 1 - 00 - 000. These transactions will have the net effect on the flow of funds is follows-“
25. Say's law of market holds that-“

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