Free Online Commerce Quiz

Free Online Commerce Quiz

1. The most suitable method of filing for a transactional corporation is–
(A) Numerical (B) Alphabetical—Numerical
(C) Numerical—Territorial (D) Territorial
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2. Which one of the following correctly signifies the purpose of an Organization Chart ?
(A) Office Décor (B) Indication of available Office services
(C) Flow of Authority (D) High Morale
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3. The most important advantage of centralization of office services is–
(A) specialization (B) higher departmental loyalty
(C) no delay in providing services (D) less burden of work
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4. Which one of the following aims is achieved most through Office Record keeping ?
(A) Efficiency of operations on shop floor (B) Business reputation
(C) Storage of documents (D) Helping decision making
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5. Increase in the installation of Personal Computer is mainly due to–
(A) monotony of work (B) reduction of fatigue
(C) improvement of efficiency (D) lowering work load
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6. The return on capital employed shows the combined effect of–
(A) net profit ratio and inventory turnover ratio
(B) operating ratio and net profit ratio
(C) net profit ratio and capital turnover ratio
(D) gross profit ratio and capital turnover ratio
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7. With regard to the rate of return on investment (ROI), which one of the following statements is not valid ?
(A) It is an overall indicator of the profitability of an enterprise
(B) It is a triangular relationship in the sense that ROI = Profit margin ×Asset turnover
(C) It is a superior measure compared to the cash flow generated per share
(D) It was first developed by Dupont, USA
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8. Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, 10% debentures of Rs. 100 each at par and 15,000 equity shares of Rs. 10 each.
How much was the flow of funds in the above transaction ?
(A) Rs. 2,30,000 (B) Rs. 1,00,000
(C) Rs. 50,000 (D) Rs. 30,000
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9. Which among the following is the societal obligation of accounting ?
(A) To ascertain profit correctly
(B) To maintain the records of the assets and liabilities of organisation
(C) To establish effective organizational control
(D) To be helpful in correct tax assessment
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10. Which audit is carried out during the accounting period with some interval, it is called–
(A) periodic audit (B) partial audit
(C) continuous audit (D) interim audit
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11. Which one of the following is the most appropriate management control technique for timely completion of a project ?
(A) Organisation chart (B) Management by Objectives
(C) PERT (D) Span of control
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12. Hawthorne studies have underlined the significance of which of the following ?
(A) System approach to management
(B) Contingency approach to management
(C) Modern approach to management
(D) Human relations approach to management.
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13. Which of the following is called Backbone of auditing ?
(A) Routine checking (B) Vouching
(C) Internal checks (D) Internal control
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14. Burns and Stalker model for categorising organisations by structural design uses the terms–
(A) Functional and geographic (B) Functional and organic
(C) Geographic and mechanistic (D) Mechanistic and organic.
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15. While auditing the financial statements of non-corporate enterprises, the auditor’s duties and scope of work would be governed by–
(A) the statute passed by the Parliament
(B) the Companies Act, 1956, and the client concerned jointly
(C) the agreement with his client.
(D) the provisions of the Income Tax Act, 1961
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16. Retain trading in government securities at select stock exchanges commercial in–
(A) Jan. 2001 (B) Jan. 2002
(C) Jan. 2003 (D) Jan. 2004
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17. Which one of the following statements is false ?
(A) A ‘Demat Share’ is held by the depository on behalf of the investor whereas a ‘Physical Share’ is held by the investor himself
(B) There is no stamp duty on the transfer of ‘Demat Shares’ from one account to another
(C) The ‘Demat Share’ does not have a folio number, distinctive number or certificate number like a ‘Physical Share’
(D) The ‘Demat Share’ cannot be converted into a ‘Physical Share’
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18. The ‘Buy Back of Shares’ was prohibited in India until–
(A) October 31, 1998 (B) October 31, 2000
(C) October 31, 2001 (D) October 31, 2002
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19. Which term is used in the field of Banking?
(A) Current Account (B) Plasma
(C) Follow on (D) Cold chain
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20. Who propounded the Innovation theory of profits?
(A) P. A. Samuelson (B) Alfred Marshall
(C) J. A. Schumpeter (D) David Ricardo
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