Miscellaneous in Commerce MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5

11.
Financial account provide summary of:

A. Asset

B. Liability

C. Accounts

D. None of these

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12.
With regard to entrepreneur, which of the following statement is/are correct?
(1) Entrepreneur helps in import-substitution.
(2) Entrepreneur helps in export-substitution.
Choose the correct answer using the option given below:

A. Only 1

B. Only 2

C. Both 1 and 2

D. Neither 1 nor 2

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13.
Pneumatic tube is a device for

A. sending oral messages from one department to other departments of the same office

B. printing official documents

C. sending fresh air and controlling temperature in office

D. sending written messages from one department to other department of the office

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14.
Match the following methods of capital budgeting with respective formulas:

Method Formulas

a. ARR method 1. Present Value of Cash Inflows - Present Value of Cash Outflows

b. Pay back period Method 2. Present Value of Cash Inflows ÷ Present Value of Cash Outflows

c. NPV Method 3. Average Income ÷ Average Investment

d. Probability Index 4. Investment ÷ Annual Cash Inflows

Choose the correct option from those given below

A. a-3, b-1, c-4, d-2

B. a-3, b-4, c-1, d-2

C. a-1, b-2, c-3, d-4

D. a-1, b-4, c-2, d-3

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15.
Which of the following statements is correct in regards to economic policy?
(1) Fiscal policy is enacted by a Central Government.
(2) Monetary policy is enacted by Central bank.

A. Only (1)

B. Only (2)

C. Both (1) and (2)

D. Neither (1) nor (2)

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16.
Calculate the prime cost from the following information:
Direct material purchased: Rs. 1,00,000
Direct material consumed: Rs. 90,000
Direct labour: Rs. 60,000
Direct expenses: Rs. 20,000
Manufacturing overheads: Rs. 30,000

A. Rs. 1,80,000

B. Rs. 2,00,000

C. Rs. 1,70,000

D. Rs. 2,10,000

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17.
Complete consolidation of business can be achieved through:

A. Combination Trust

B. Interlocking Directorships

C. Amalgamation

D. All of these

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18.
Opening stock + . . . . . . . . + Direct Expenses (Carriage on Raw material) - Closing Stock = . . . . . . . .

A. Sales, Purchases

B. Sales, Sales return

C. Purchases, Cost of goods produced

D. Purchases, Cost of goods sold

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19.
The amount brought in by the proprietor in the business should be credited to:

A. Cash a/c

B. Capital a/c

C. Drawing a/c

D. Bank a/c

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20.
Which of the following is not a feature of payback period method?

A. It is simply a method of cost recovery and not of profitability

B. It does not consider the time value of money

C. It does not consider the risk associated with the projects

D. It is very difficult to calculate

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Method	Formulas
a. ARR method	1. Present Value of Cash Inflows - Present Value of Cash Outflows
b. Pay back period Method	2. Present Value of Cash Inflows ÷ Present Value of Cash Outflows
c. NPV Method	3. Average Income ÷ Average Investment
d. Probability Index	4. Investment ÷ Annual Cash Inflows

Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

11. Financial account provide summary of:

Answer & Solution

12. With regard to entrepreneur, which of the following statement is/are correct? (1) Entrepreneur helps in import-substitution. (2) Entrepreneur helps in export-substitution. Choose the correct answer using the option given below:

Answer & Solution

13. Pneumatic tube is a device for

Answer & Solution

Answer & Solution

15. Which of the following statements is correct in regards to economic policy? (1) Fiscal policy is enacted by a Central Government. (2) Monetary policy is enacted by Central bank.

Answer & Solution

16. Calculate the prime cost from the following information: Direct material purchased: Rs. 1,00,000 Direct material consumed: Rs. 90,000 Direct labour: Rs. 60,000 Direct expenses: Rs. 20,000 Manufacturing overheads: Rs. 30,000

Answer & Solution

17. Complete consolidation of business can be achieved through:

Answer & Solution

18. Opening stock + . . . . . . . . + Direct Expenses (Carriage on Raw material) - Closing Stock = . . . . . . . .

Answer & Solution

19. The amount brought in by the proprietor in the business should be credited to:

Answer & Solution

20. Which of the following is not a feature of payback period method?

Answer & Solution

Read More Section(Miscellaneous in Commerce)

11.
Financial account provide summary of:

12.
With regard to entrepreneur, which of the following statement is/are correct?
(1) Entrepreneur helps in import-substitution.
(2) Entrepreneur helps in export-substitution.
Choose the correct answer using the option given below:

13.
Pneumatic tube is a device for

15.
Which of the following statements is correct in regards to economic policy?
(1) Fiscal policy is enacted by a Central Government.
(2) Monetary policy is enacted by Central bank.

16.
Calculate the prime cost from the following information:
Direct material purchased: Rs. 1,00,000
Direct material consumed: Rs. 90,000
Direct labour: Rs. 60,000
Direct expenses: Rs. 20,000
Manufacturing overheads: Rs. 30,000

17.
Complete consolidation of business can be achieved through:

18.
Opening stock + . . . . . . . . + Direct Expenses (Carriage on Raw material) - Closing Stock = . . . . . . . .

19.
The amount brought in by the proprietor in the business should be credited to:

20.
Which of the following is not a feature of payback period method?