Commerce Accounts Questions
1. Henry Fayol is known for–
(A) Scientific Management (B) Rationalisation
(C) Industrial Psychology (D) Principles of Management
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2. Unity of command implies having not more than one–
(A) Subordinate (B) Friend
(C) Boss (D) Unit
See Answer:
3. ‘x’ and ‘y’ theory of Motivation has been propounded by–
(A) McGregor (B) Maslow
(C) Ouchi (D) Herzberg
See Answer:
4. Coordination has the following features–
(A) Continuous (B) Vertical organisation
(C) Horizontal relationship (D) All of the above
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5. Which one of the following is not a barrier in communication ?
(A) Noise (B) Affection
(C) Fear and distrust (D) Perception
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6. A Company can reissue its forfeited shares–
(A) At a premium (B) At a face value
(C) At a discount (D) All of the above
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7. Which of the following is an example of capital expenditure ?
(A) Insurance Premium (B) Taxes and Legal expenses
(C) Depreciation (D) Custom duty on import of machinery
See Answer:
8. Given :
Average profit of a firm Rs. 21,000
Normal Profit Rs. 18,000
Value of goodwill on the basis of 3 years purchases of super profit shall be–
(A) Rs. 39,000 (B) Rs. 9,000
(C) Rs. 3,000 (D) Rs. 12,000
See Answer:
9. A co-operative auditor starts his work of audit from–
(A) Account Books (B) Payment Books
(C) Cash Book (D) None of the above
See Answer:
10. Accounting for research and development relates to–
(A) AS-7 (B) AS-8
(C) AS-9 (D) AS-10
See Answer:
11. When does a body corporate become capable forthwith of exercising all the functions of a company ?
(A) On finalizing Memorandum of Association
(B) On obtaining certificate of commencement of business
(C) On obtaining certificate of incorporation
(D) On having convened its first Annual General Meeting
See Answer:
12. Pohang Steel Company (POSCO) is a company originally based in–
(A) Vietnam (B) South Korea
(C) USA (D) Italy
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13. Which one of the following is not one of the elements of the 7S McKinsey Model for analyzing and improving organizational effectiveness ?
(A) Strategy (B) Structure
(C) Shared Values (D) Standard
See Answer:
14. Consider the following statements–
1. Aggregate planning implies operational planning concerned with determining a firm's production requirements and manufacturing capacity.
2. Behaviour modification is a concept of motivation totally independent of rewards for the employees.
Which of the statements given above is/are correct ?
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
See Answer:
15. What is the correct sequence of the following steps in a strategic planning process ?
1. Inputs 2. Evaluation of alternatives
3. Execution 4. SWOT analysis
Select the correct answer using the code given below–
(A) 1 - 4 - 2 – 3 (B) 4 - 1 - 2 - 3
(C) 1 - 2 - 3 – 4 (D) 4 - 1 - 3 - 2
See Answer:
16. Which one among the following is not true for Special Economic Zones?
(A) No routine examination of cargo for export/import by customs authorities
(B) No licence is required for import
(C) Manufacturing and service activities are allowed
(D) No permission for subcontracting
See Answer:
17. Which one among the following industries produces the most nonbiodegradable wastes?
(A) Thermal power plants (B) Paper mills
(C) Food processing units (D) Textile mills
See Answer:
18. Brent index is associated with–
(A) shipping rate index (B) crude oil prices
(C) copper future prices (D) gold future prices
See Answer:
19. Which one among the following is not true of the planning Commission?
(A) It indicates the factors which tend to retard economic development
(B) It is an advisory body and makes recommendations to the cabinet
(C) It is responsible for formulation of a plan for the most effective and balanced utilisation of the country's resources
(D) It is responsible for the execution of development programmes and plans
See Answer:
20. Which one of the following statements about RBI is 'True'?
(A) RBI maintains the foreign exchange reserves of India
(B) RBI is the regulator of Banks and Securities market in India
(C) RBI started functioning from 1870
(D) None of these
See Answer:
(A) Scientific Management (B) Rationalisation
(C) Industrial Psychology (D) Principles of Management
See Answer:
2. Unity of command implies having not more than one–
(A) Subordinate (B) Friend
(C) Boss (D) Unit
See Answer:
3. ‘x’ and ‘y’ theory of Motivation has been propounded by–
(A) McGregor (B) Maslow
(C) Ouchi (D) Herzberg
See Answer:
4. Coordination has the following features–
(A) Continuous (B) Vertical organisation
(C) Horizontal relationship (D) All of the above
See Answer:
5. Which one of the following is not a barrier in communication ?
(A) Noise (B) Affection
(C) Fear and distrust (D) Perception
See Answer:
6. A Company can reissue its forfeited shares–
(A) At a premium (B) At a face value
(C) At a discount (D) All of the above
See Answer:
7. Which of the following is an example of capital expenditure ?
(A) Insurance Premium (B) Taxes and Legal expenses
(C) Depreciation (D) Custom duty on import of machinery
See Answer:
8. Given :
Average profit of a firm Rs. 21,000
Normal Profit Rs. 18,000
Value of goodwill on the basis of 3 years purchases of super profit shall be–
(A) Rs. 39,000 (B) Rs. 9,000
(C) Rs. 3,000 (D) Rs. 12,000
See Answer:
9. A co-operative auditor starts his work of audit from–
(A) Account Books (B) Payment Books
(C) Cash Book (D) None of the above
See Answer:
10. Accounting for research and development relates to–
(A) AS-7 (B) AS-8
(C) AS-9 (D) AS-10
See Answer:
11. When does a body corporate become capable forthwith of exercising all the functions of a company ?
(A) On finalizing Memorandum of Association
(B) On obtaining certificate of commencement of business
(C) On obtaining certificate of incorporation
(D) On having convened its first Annual General Meeting
See Answer:
12. Pohang Steel Company (POSCO) is a company originally based in–
(A) Vietnam (B) South Korea
(C) USA (D) Italy
See Answer:
13. Which one of the following is not one of the elements of the 7S McKinsey Model for analyzing and improving organizational effectiveness ?
(A) Strategy (B) Structure
(C) Shared Values (D) Standard
See Answer:
14. Consider the following statements–
1. Aggregate planning implies operational planning concerned with determining a firm's production requirements and manufacturing capacity.
2. Behaviour modification is a concept of motivation totally independent of rewards for the employees.
Which of the statements given above is/are correct ?
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
See Answer:
15. What is the correct sequence of the following steps in a strategic planning process ?
1. Inputs 2. Evaluation of alternatives
3. Execution 4. SWOT analysis
Select the correct answer using the code given below–
(A) 1 - 4 - 2 – 3 (B) 4 - 1 - 2 - 3
(C) 1 - 2 - 3 – 4 (D) 4 - 1 - 3 - 2
See Answer:
16. Which one among the following is not true for Special Economic Zones?
(A) No routine examination of cargo for export/import by customs authorities
(B) No licence is required for import
(C) Manufacturing and service activities are allowed
(D) No permission for subcontracting
See Answer:
17. Which one among the following industries produces the most nonbiodegradable wastes?
(A) Thermal power plants (B) Paper mills
(C) Food processing units (D) Textile mills
See Answer:
18. Brent index is associated with–
(A) shipping rate index (B) crude oil prices
(C) copper future prices (D) gold future prices
See Answer:
19. Which one among the following is not true of the planning Commission?
(A) It indicates the factors which tend to retard economic development
(B) It is an advisory body and makes recommendations to the cabinet
(C) It is responsible for formulation of a plan for the most effective and balanced utilisation of the country's resources
(D) It is responsible for the execution of development programmes and plans
See Answer:
20. Which one of the following statements about RBI is 'True'?
(A) RBI maintains the foreign exchange reserves of India
(B) RBI is the regulator of Banks and Securities market in India
(C) RBI started functioning from 1870
(D) None of these
See Answer:
1 Comments
Nice question.
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