Commerce Exam

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1. On August 1, 2003, the total strength of India's armed forces approximate to
2.

If there is Mis-match of supplier’s outward supply and recipient’s claim for Input Tax credit on the same transaction

3.

A bill of supply can be issued in case of inter-State and intra-State:

4.

The accounting process involves recording

5.

The debts which are to be repaid within a short period (year or less) are known as

6.

Tax invoice must be issued by________

7. In which season do we need more fat?
8.

Is Input tax to be reversed in case of supply of capital goods

9. For seeing objects at the surface of water from a submarine under water, the instrument used is
10.

Budgeting is difficult to apply in the following cases

11. How many times has Brazil won the World Cup Football Championship?
12. The time limit to pay the value of supply with taxes
13. Jeevan Rekha (Life line) express is
14.

The time limit beyond which if goods are not returned, the input sent for job work shall be treated as supply

15. India's first satellite is named after
16. India has largest deposits of ____ in the world.
17.

________ is the first phase of accounting cycle

18.

Which of the following is the internal user of financial statements?

19. In a normal human body, the total number of red blood cells is
20. Gopal Krishna Gokhale
21. Judicature (High Court) of Rajasthan is at
22.

The measure of how efficiently the assets resources are employed by the firm is called

23.

Auditing refers to

24.

Identify the correct sequence of accounting process

25.

A continuous supply of goods requires one of the following as a must:

26.

A low Return on Investment Ratio (ROI) indicates

27.

_______ is the gross inflow of economic benefits

28.

Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor

29. How many Lok Sabha seats belong to Rajasthan?
30. First International Peace Congress was held in London in
31.

Sales expenditure budget is prepared by estimating the expense(s) of

32. How many teeth does a normal adult dog have?
33.

Whether depreciation on tax component of capital goods and Plant and Machinery and whether input tax credit (ITC) is Permissible?

34.

Banking company or Financial Institution have an option of claiming ITC:

35.

Can Mr. A avail credit on Input services or capital goods held in stock, in case of new registration/voluntary Registration

36. Nalanda is located at
37.

Input Tax credit as credited in Electronic Credit ledger can be utilized for

38.

Balance sheets are prepared

39.

An asset possesses which of the following?

40. Which one of the following is printed on a commonly used fluorescent tubelight?
41. How much districts are there in Punjab?
42. If force is expressed in Newton and the distance in metre, then the work done is expressed in
43. How many red blood cells does the bone marrow produce every second?
44. Which state tops in the list with the maximum penetration and Assets Under Management (AUM)?
45. In which of the following years, the membership of the Security Council was increased from 11 to 15 (under Article 23)?
46.

A Master Budget consists of

47.

Lower the Debt Equity ratio

48. ICAO stands for
49.

The following is a statement of revenues and expenses for a specific period of time

50.

For capital goods, proportionate credit is allowed

51. India's first Technicolor film ____ in the early 1950s was produced by ____
52.

Any return evidence in support of a business transaction is called

53. Headquarters of UNO are situated at
54. GNLF stands for
55.

The sales income (Credit and Cash) of a business during a given period is called

56.

Matching of Input Tax credit on inward supply by recipient is undertaken with

57.

Balance sheet is a statement of

58. Accounting provides information on
59.

Return on Investment Ratio (ROI) =

60.

The time limit beyond which if goods are not returned, the capital goods sent for job work shall be treated as supply

61.

Patents, Copyrights and Trademarks are

62.

In accounting, an economic event is referred to as

63. Microphone is used to convert
64. The first Indian state to offer a Wage Compensation Scheme for pregnant women working in the tea gardens of the state is:
65. In which year of First World War Germany declared war on Russia and France?
66. Dr. Zakir Hussain was
67. Kolleru Pelicanary situated at Elluru, Andhra Pradesh has reserves of
68. G-15 is an economic grouping of
69.

Which of the following is the external user of financial statements?

70. Mother Teresa received the Magsaysay Award in 1962 in the area of
71. In which year, terrorists crash two planes into New York's World Trade Centre on September 11 in a sequence of destruction?
72.

______ is a separate legal entity whose total capital can be divided into many shares

73. Gujarat-based industrial groups are set to invest Rs.20,000 crore in which state?
74.

Bookkeeping mainly consists of which part of accounting process?

75.

Current ratio =

76. India's first ocean wave's energy project was launched in
77.

The following is a statement showing the financial status of the comapany at any given time

78.

The long term assets that have no physical existence but are rights that have value is known as

79. Nucleus, the genetic material containing rounded body in each cell, was first discovered in 1831 by
80.

Whether credit can be availed without actual receipt of goods where goods are transferred through transfer of document of title before or during the movement of goods?

81.

Liquid or Quick assets =

82.

A higher inventory ratio indicates

83. India's first atomic reactor was
84.

In case of goods sent on sale on approval basis, invoice has to be issued:

85. Excessive secretion from the pituitary gland in the children results in
86.

The following is (are) the current liability (ies)

87.

The ratios that refer to the ability of the firm to meet the short term obligations out of its short term resources

88.

An acknowledgement must be given on receipt of advance payment in respect of supply of goods or services:

89. The process of entering all transactions from the Journal to Ledger is called
90. Of the various non-conventional energy sources that are being tapped, which has the largest potential?
91.

Provisional Input tax credit can be utilized against

92.

The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

93. India participated in Olympics Hockey in
94.

The registered recipient must issue an invoice in the following cases:

95. INS Venduruthy is located at
96.

The process of entering all transactions from the Journal to Ledger is called

97.

A person is entitled to take credit of input tax as self-assessed in the return and credited to Electronic credit ledger on

98.

Liabilities are which of the following?

99. An invoice must be issued
100.

Mr. A obtains new registration, voluntary registration, change of scheme from composition to regular scheme and from exempted goods/services to taxable goods/services. He can avail credit on inputs lying in stock. What is the time limit for taking said credit


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