Miscellaneous in Commerce MCQ Questions and Solutions with Explanations

11.
Credit balance of profit & loss a/c shown on:

A. Asset side of balance sheet

B. Liability side of balance sheet

C. Not shown in balance sheet

D. Half on asset side and half on liability side

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12.
The amount of salary paid to Suresh should be debited to:

A. The account of Suresh

B. Salaries a/c

C. Cash a/c

D. Bank a/c

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13.
When the completion stage of the contract is more than half, the profit is to be credited to profit and loss account will be equal to?

A. 1/3^rd

B. 2/3^rd

C. 2/5^th

D. 1/5^th

E. 4/5^th

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14.
When a cement company, a steel company and a chemical company combine, it is a case of:

A. Horizontal combination

B. Vertical combination

C. Circular combination

D. None of the above

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15.
The cost concept records the figures at:

A. Market values

B. Actual amount paid

C. Actual amount or market values whichever is less

D. MRP maximum retail price

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16.
Which of the following is not the function of stock exchange?

A. Valuation of securities

B. Protecting investors

C. Ensuring higher profits

D. Organizing savings

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17.
All those to whom business owes money are:

A. Debtors

B. Investors

C. Creditors

D. Shareholders

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18.
The concept of present value is based on the :

A. Principle of compounding

B. Principle of discounting

C. A and B

D. None of the above

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19.
Preliminary expenses are recorded in . . . . . . . .

A. Equity and liabilities - Liability side of B/S

B. Current liabilities - Liability side of B/S

C. Fixed assets - Asset side of B/S

D. Asset side of B/S

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20.
Which of the following is not a function of Foreign Exchange Market?

A. Stabilization function

B. Hedging function

C. Credit function

D. Transfer function

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Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

11. Credit balance of profit & loss a/c shown on:

Answer & Solution

12. The amount of salary paid to Suresh should be debited to:

Answer & Solution

13. When the completion stage of the contract is more than half, the profit is to be credited to profit and loss account will be equal to?

Answer & Solution

14. When a cement company, a steel company and a chemical company combine, it is a case of:

Answer & Solution

15. The cost concept records the figures at:

Answer & Solution

16. Which of the following is not the function of stock exchange?

Answer & Solution

17. All those to whom business owes money are:

Answer & Solution

18. The concept of present value is based on the :

Answer & Solution

19. Preliminary expenses are recorded in . . . . . . . .

Answer & Solution

20. Which of the following is not a function of Foreign Exchange Market?

Answer & Solution

11.
Credit balance of profit & loss a/c shown on:

12.
The amount of salary paid to Suresh should be debited to:

13.
When the completion stage of the contract is more than half, the profit is to be credited to profit and loss account will be equal to?

14.
When a cement company, a steel company and a chemical company combine, it is a case of:

15.
The cost concept records the figures at:

16.
Which of the following is not the function of stock exchange?

17.
All those to whom business owes money are:

18.
The concept of present value is based on the :

19.
Preliminary expenses are recorded in . . . . . . . .

20.
Which of the following is not a function of Foreign Exchange Market?