Miscellaneous in Commerce MCQ Questions and Solutions with Explanations

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Miscellaneous in Commerce MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Miscellaneous in Commerce MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-5 section-3

Each section contains 100 MCQs on Miscellaneous in Commerce .

Manufacturing costs are also known as product costs. Which of the following best describes those costs which are considered to be manufacturing costs?

A) Direct materials, direct labour, and factory overhead B) Direct materials and direct labour only C) Direct materials, direct labour, factory overhead and administrative overhead D) Direct labour and factory overhead

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Combination of printing and dyeing company is type of

A) Vertical combination B) Horizontal combination C) Circular combination D) Allied combination

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

All costs other than direct materials cost, direct labour cost and direct expenses are known as:

A) Indirect material cost B) Overhead C) Indirect labour cost D) Indirect expenses

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Over the counter exchange of India was established in India as

A) A joint stock company B) A corporation C) A society D) A departmental undertaking

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Which of the following is correct?

A) Income tax is a trade expense B) Closing Stock shown in Trial Balance is recorded in Balance Sheet C) Prepaid Expenses Account is Nominal Account D) Advance received from a customer is credited to Profit and Loss Account as an income

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Stock Exchange is a place where-

A) Grain is bought and sold B) Listed shares and securities are bought or sold C) Gold and silver are bought and sold D) None of the above

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Which of the following issue is the costliest source of Finance?

A) Issue of debenture at par B) Issue of debenture at discount C) Issue of debenture at premium D) Issue of debenture at discount and redeem at premium

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Income tax paid by a sole proprietor on his business income should be:

A) Debited to trading account B) Debited to profit and loss account C) Deducted from capital account in the balance sheet D) None of the above

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

One among the following is a right of finder of goods:

A) Right to extra ordinary expenses B) Right to get back goods C) Right to preserve and to take reasonable care D) Right to use the goods for his own purpose E) Right to sue for reward

Discuss

Answer & Solution

Answer: Option E

No explanation is given for this question. Let's Discuss on Board

The bailment of goods as security for payment of debt of performance or a promise is called:

A) Bailment B) Pledge C) Contract of Indemnity D) Quasi-contract

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

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Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce