Commerce Questions Quiz

Commerce Questions Quiz

1. “Organisation is the foundation of management.” This statement is given by–
(A) Henry Ford (B) Haney
(C) Keeling (D) Lansberry Fish
See Answer:

2. The number of subordinates a superior can effectively handle is called–
(A) Cooperation (B) Coordination
(C) Supervision (D) Span of control
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3. In Need Hierarchy Theory of Abraham H. Maslow, Self Actualisation needs are at level–
(A) Lower level needs (B) Middle level needs
(C) Higher level needs (D) Highest level needs
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4. Motivation - Hygiene Theory was propounded by–
(A) Abraham H. Maslow (B) Fredrick Herzberg
(C) Peter F. Druker (D) Argyris Chris
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5. ‘Carrot and Stick’ principle is given in Theory–
(A) McGregor Theory X (B) McGregor Theory Y
(C) William Ouchi Theory Z (D) None of the above
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6. Match the following–
List-I
(a) Principle of subrogation (b) Principle of ultra vires
(c) Holding company (d) SEBI
List-II
1. Business combination 2. Insurance
3. Company Law 4. Stock Exchange
Codes :
(a) (b) (c) (d)
(A) 2 3 1 4
(B) 1 3 2 4
(C) 4 2 1 3
(D) 1 2 3 4
See Answer:

7. Reserve Bank of India is a–
(A) Government Company (B) Departmental Organisation
(C) Statutory Corporation (D) None of the above
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8. Application of Theory ‘X’ implies practising of–
(A) Free leadership (B) Democratic leadership
(C) Autocratic leadership (D) None of the above
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9. Which of the following is the Accounting equation ?
(A) Capital = Assets – Liabilities
(B) Capital = Assets + Liabilities
(C) Assets = Liabilities – Capital
(D) Liabilities = Assets – Capital
See Answer:

10. Expenditure on installation of a plant should be debited to–
(A) Installation Expenses account (B) Sundry expenses account
(C) Plant account (D) Maintenance of Assets A/c
See Answer:

11 Which is the oldest form of organisation ?
(A) Line (B) Line and staff
(C) Functional (D) Matrix
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12. Decentralisation–
(A) Reduces burden of chief executives (B) Increases burden of chief executives
(C) Does not effect burden (D) None of the above
See Answer:

13. Planning is a–
(A) Primary function (B) Secondary function
(C) Supplementary function (D) None of the above
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14. Planning function of management is performed by–
(A) Top management (B) Middle management
(C) Lower management (D) All of the above
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15. MBO approach in management was introduced by–
(A) M. P. Follet (B) Keith Davis
(C) Peter Drucker (D) Oliver Sheldon
See Answer:

16. What is Capital Redemption Reserve Account available for ?
(A) Redemption of redeemable preference shares
(B) Redemption of redeemable debentures
(C) Reorganization of share capital
(D) Issue of fully paid bonus shares
See Answer:

17. Match List-I with List-II and select the correct answer using the code given below the Lists–
List I (Item)
(a) Earnings per share (b) Cash flow statement
(c) Inventory valuation (d) Disclosure of accounting policies
List-II (Accounting Standard)
1. AS-3 2. AS-20
3. AS-1 4. AS-2
Codes :
(a) (b) (c) (d)
(A) 3 1 4 2
(B) 2 4 1 3
(C) 3 4 1 2
(D) 2 1 4 3
See Answer:

18. Government grants related to income as per the Accounting Standard (AS)-12 should be–
(A) Presented as a credit in the statement of Profit and Loss
(B) Presented as a deferred income on the asset side of the balance sheet
(C) Presented as a capital grant on the liability side of balance sheet
(D) Presented both in the Profit and Loss statement and in the balance sheet
See Answer:

19. What is the renewal fees paid for a patent right ?
(A) Capital expenditure (B) Revenue expenditure
(C) Deferred revenue expenditure (D) Development expenditure
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20. According to the Accounting Standard (AS)-2, the inventory is to be valued at which one of the following ?
(A) Actual cost or sales value, whichever is lower
(B) Historical cost
(C) Net realizable value
(D) Historical cost or net realizable value, whichever is lower
See Answer:

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