Commerce MCQ

1) According to Balance Sheet equation concept, the capital will be
A) Capital= Liabilities - Assets
B) Capital= Fixed Assets - Current Assets
C) Capital = Assets - Liabilities
D) Capital = Assets + Liabilities

2) In common size Balance Sheet analysis we evaluate
A) Increase or decrease over two years is analyzed
B) Only increase over two years is analyzed
C) Only decrease over two years is analyzed
D) All assets and liabilities are expressed in terms of percentage of total

3) Increase in fixed assets due to purchase is
A) Source of fund
B) Fund from operation
C) Use of fund
D) None of these

4) In fund flow statement fund means
A) Total resources
B) Cash/ Bank balance
C) Current Assets
D) Working Capital

5) A vacancy caused by the resignation of the auditor is filled only by the
A) Board of directors of the company
B) Central Government
C) General meeting of the shareholders
D) Managing director of the company

6) The first auditor of a company appointed , holds office for
A) A period of 1 year
B) the period till new auditor is appointed
C) Conclusion of first Annual General Meeting
D) Holding of statutory meeting of the company

7) Internal auditor is appointed by the
A) Management
B) Shareholders
C) Government
D) Statutory auditors

8) What is the quorum of General meetings in case of private companies?
A) 2 members
B) 3 members
C) 4 members
D) 5 members

9) Which of the following must hold a statutory meeting?
A) Public Limited Company
B) Private Company
C) Unlimited company
D) All of these

10) Life insurance is a contract of which one of the following
A) Indemnity
B) Guarantee
C) Contribution
D) Subrogation


ANSWERS

1) C
2) D
3) C
4) D
5) C
6) C
7) A
8) A
9) A
10) B

The above mentioned questions will be useful for Commerce paper in OIL, APSC and other exams.

-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'-'

For more current affairs, English, Reasoning and other important bank exam topics, visit the following blog
http://ssksuraj.blogspot.in/2017/02/daily-current-affairs-update-9th.html?m=1


For more gk clink on the below link
http://assamdarpan.blogspot.com/