Miscellaneous in Commerce MCQ Questions and Solutions with Explanations

Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

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-1 section-4

Contingent liabilities should be recorded in the accounts when:

A) It is probable that the future event will occur B) The amount of the liability can be reasonably estimated C) Both A and B D) Either A or B

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Answer & Solution

Answer: Option C

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Match List-I with List-II and select the correct answer using the option given below the lists:

List-I (Financial Institution)	List-II (Year of Establishment)
a. I.F.C.I.	1. 1981
b. SIDBI	2. 1982
c. NABARD	3. 1948
d. EXIM bank	4. 1990

A) a-3, b-1, c-2, d-4 B) a-4, b-2, c-3, d-1 C) a-4, b-3, c-2, d-1 D) a-3, b-4, c-2, d-1

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Answer & Solution

Answer: Option D

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Net profit is calculated in:

A) Trading a/c B) Balance sheet C) Profit & loss a/c D) Trial balance

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Answer & Solution

Answer: Option C

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Variable cost per unit:

A) Remains fixed B) Fluctuates with volume of production C) Varies in consideration with the volume of sales D) None of the above

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Answer: Option B

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The means of retaining information by photocopying records on roles of films is known as:

A) Electrostatic copying B) Xeroxography C) Micro-filming D) Photocopying

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Answer & Solution

Answer: Option C

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The return of goods by the customer should be debited to:

A) Customer a/c B) Sales return a/c C) Goods a/c D) Purchase return a/c

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Answer & Solution

Answer: Option B

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Reinvestment of profits means-
OR
Ploughing back of profit

A) Reinvestment of income in the business B) Transfer to accumulation C) Non-payment of dividend D) Earning illegal income

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Answer & Solution

Answer: Option A

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Which of the following does NOT come under the definition of 'information' as per the Right to Information Act (RTI Act), 2005?

A) Logbooks B) Data material held in electronic from C) File noting D) Circular

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Answer: Option C

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Given:
Initial investment : Rs. 50,000
Depreciation per year : Rs. 2,000
Constant annual cash flow : Rs. 10,000
Pay back period will be:

A) 5 years B) 5.2 years C) 4.8 years D) None of these

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Answer & Solution

Answer: Option A

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Outstanding salary is shown as:

A) An asset in the balance sheet B) A liability C) By adjusting it in the P & L a/c D) Both B and C

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Answer & Solution

Answer: Option D

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