Commerce MCQ Questions and Answers
Quantitative Aptitude - Commerce MCQ Questions with Answers are essential for students preparing for commerce exams. Commerce MCQ Aptitude improves analytical skills and understanding of business mathematics, making it useful for CA, ICWA, and other commerce exams.
Commerce MCQ
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242 questions
201. In connection with marine insurance the ‘Doctrine of Utmost Good Faith’ is based on the concept of-
- Disclosure
- Concealment
- Misrepresentation
- None of the above
202. Which statement is not true in respect of a Balance Sheet ?
- It is an account
- It is prepared every month
- It is prepared to check the mathematical accuracy
- All the above
203. A machinery is purchased for Rs. 3,00,000 and Rs. 50,000 is spent on its installation. Rs. 5,000 is spent on fuel. What will be the amount of capital expenditure ?
- Rs. 3,00,000
- Rs. 3,50,000
- Rs. 3,55,000
- None of these
204. Which of the following errors are not disclosed by Trial Balance ?
- Compensatory Errors
- Errors of Principle
- Errors of Omission
- All the three
205. A large amount spent on special advertisement is-
- Capital Expenditure
- Revenue Expenditure
- Revenue Loss
- Deferred Revenue Expenditure
207. According to going concern concept a business entity is assumed to have-
- A long life
- A small life
- A very short life
- A definite life
208. The policy of ‘anticipate no profit and provide for all possible losses’ is followed due to-
- Convention of consistency
- Convention of conservation
- Convention of disclosure
- None of the above
209. Receipts and Payments Account is prepared by-
- Companies
- Banks
- Partnership firms
- Non-trading organizations
210. Examination of documents and vouchers is called-
- Physical verification
- Test checking
- Vouching
- None of the above