QUIZ

Multiple choice questions of Subject Commerce MCQs Topic Budget Related Questions and Answers pdf ( Budget Related Questions and Answers pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Budget Related Questions and Answers pdf | MCQ on Government Budget class

2. Which one of the following taxes is levied by the central but wholly assigned to the statest

(a) Personal income tax

(b) Excise on drugs and narcotic

(c) Railway passenger tax

(d) Gift tax

Ans. c

3. All the revenues received, loans raised and money received in repayment of loans by the Union Government go into

(a) Consolidated Fund of india

(b) Contingency Fund of India

(c) Public Account of India

(d) Prime Minister’s Relief Fund

Ans. a

4. Given a proportional income tax and a balanced budget, an autonomous increase in investment will increase the level of equilibrium income and the budget will

(a) still be in balance

(b) have a surplus

(d) the outcomne is uncertain

(c) have a deficit

Ans. a

5. The merit of zero based budgeting is that

(a) tax liability is reduced

(b) profits go up

(c) deficit financing becomes zero

(d) expenditure is rationalised

Ans. d

6. In India, constitutional requirement, according to.

(a) Article 112 preparing government budget is a

(b) Article 110

(d) Article 102

(c) Article 115

Ans. a

7. In the Indian context, deficit financing means

(a) an excess of goverriment’s revenue over expenditure

(b) an excess of government’s current expenditure over its current revenue

(c) an excess of government’s total expenditure over its total revenue

(d) None of the above

Ans. c

8. Indirect taxes are objectionable because they

(a) are hard to collect

(b) are regressive

(c) do not raise enough revenue

(d) are particularly hard on the rich

Ans. b

9. Arrange the following reports in chronological order.

1. Direct taxes enquiry committee’s final report.

2. Final report on rationalising and simplification of the tax structure,

3. Indian tax reforms report of a survey.

4. Taxation enquiry commission.

Codes (a) 4 321

(c) 3 142

(b) 1 234

(d) 2 314

Ans. a

10. When the rate of tax goes up with increase in income, it is c oft called

(a) proportional tax

(c) progressive tax

(b) regressive tax

(d) presumptive tax

Ans. c

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Multiple choice questions of Subject Commerce MCQ Questions with Answers pdf | Forms of Market pdf ( Commerce MCQ Questions with Answers pdf | Forms of Market pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Forms of Market pdf | Commerce MCQ Questions with Answers pdf | E commerce MCQs

1. The AR curve and industry demand curve are same

(a) in case of monopoly

(b) in case of oligopoly

(c) in case of perfect competition

(d) None of the above

Ans. a

2. When the TR and STC curves are parallel, it shows the point where the monopolist reaches the

(a) best level of profit only

(b) best level of output

(c) best level of rivals price

(d) All of these

Ans. b

3. A cartel is most likely to occur in

(a) perfect competition as firms compete by reducing cost

(b) oligopoly as firms act together to raise prices to increase profits

(c) monopolistic competition where firms collude to increase profits

(d) oligopoly as firms compete to lower prices and increase their own profits

Ans. b

4. Bilateral monopoly refers to a market situation in which

(a) a single producer (monopolist) of a product faces a single buyer (monapsonist) of that product

(b) there is only one seller in the market

(c) there are two sellers in the market

(d) there are two buyers in the market

Ans. a

6. Which of the following statements is/are not correct?

1. Prices ratio goods among different uses and users.

2. Prices tend to force producers into low cost aperations, especially in competitive industries.

3. Prices tend to force producers into high cost operations, especially in competitive industries.

4. Prices reflect in competitive industries.

(a) 1 and 4

(c) Only 3

(b) Only 2

(d) Only 4

Ans. c

7. A price discriminating

(a) cannot offer discounts

(b) sells a larger quantity than it would if it was a single price monopoly

(c) cannot control the price of its product

(d) makes a smaller economic profit than it would if it was a single price monopoly

Ans. b

8. Pursuing a policy of price discrimination will increase the profits of a monopolist who sells in two sub markets

(a) only if he sells more than one product

(b) if the price elasticity of demand for his output differs in two markets

(c) if buyers in either sub market can easily resale his output to buyers in the other sub market

(d) only during the short-run when capital stock is fixed

Ans. b

9. In monopolistic competition, a firm can earn supernormal profits in the short-run but in the long-run, such profits disappear because

(a) it assumes that entry is free and new firms will enter the industry

(b) it assumes that exit is free and old firms will exit from the industry

(c) it assumes that the market is to be coniverted into monopoly due to cartel

(d) All of the above

Ans. a

10. If a monopolistically competitive seller can convince buyers that sold by rival firms, then his product is of better quality and value than products

(a) demand becomes more inelastic

(b) demand increases

(c) the firm gains more control over its prices

(d) All of the above

Ans. d

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Multiple choice questions of Subject Commerce MCQs Topic National Income Multiple Choice Questions and Answers pdf ( MCQ on National Income Multiple Choice Questions and Answers pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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MCQ on National Income pdf | National Income Multiple Choice Questions and Answers pdf

1. Comparisons of GDP levels across countries are most accurate when

(a) the value of non-market activities is the same across countries

(b) prices are the same across countries

(c) prices and the value of non-market activities are the same across countries

(d) prices for non-market activities are the same across countries

Ans. c

2. The value of output produced by residents located within the country, before depreciation and including the influence of taxes and subsidies, is known as

(a) GNP at matket prices

(b) GNP at factor cost

(c) GDP at factor cost

(d) GDP at market prices

Ans. d

3. The. can be utilised to measure the direct and indirect effects on the entire economy of any sectoral change in input-output of final demand,

(a) output coefficient table

(b) input coetficient table

(c) transactions

(d) None of the above

Ans. b

4. Which of the following is an example of an intermediate product?

(a) A pair of skise sold by a sporting goods retailer to a skier

(b) A share of IBM stock

(c) The lumber produced by Boise Cascade and sold to builder of new houses

(d) An antique car sold to the highest bidder

Ans. c

5. Social accounts help to form the basis for economic models for the purpose

(a) of analysing the behaviour of the economy as a whole

(b) of hiding the problems of the economy

(c) to control papulation and illiteracy

(d) None of the above

Ans. a

6. Which one of the following are excluded when measuring national income?

(a) Consumer spending in the expenditure method

(b) Value added in the output method

(c) Tranister payments in the income method

(d) None of the above

Ans. c

7. Investment is the purchase of capital equipment, inventories, and

(a) structures

(c) depreciation

(b) non-durable goods

(d) import investment

Ans. a

8. Which of the following would not be counted as a final good for inclusion in GDP?

(a) A piece of glass bought by a consumer to fix a broken window

(b) A sheet of glass purchased by a commercial builder of a new home

(c) A sheet of glass produced this year and ending up in the inventory of a retail store

(d) A home that is built this year but is not sold

Ans. b

9. In an economy, the total income derived from all economic activities in a given year is

(a) greater than the sum of gross nationial product

(b) equal to the sum of gross national product

(c) equal to national income

(d) greater than the national income Nominal GNP

Ans. c

10. GNP deflator= Nominator GNP/?x100

(a) Real GNP

(b) Consumer price index

(c) Current price index

(d) None of the above

Ans. a

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Multiple choice questions of Subject Commerce MCQs Topic E Commerce Multiple Choice Questions and Answers pdf: Demand and Supply ( MCQ on Demand and Supply with Answers PDF Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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MCQ on Demand and Supply with Answers PDF

1. What does ‘elasticity of supply’ measure?

(a) The change in quantity supplied divided by the price

(b) The responsiveness of quantity supplied to a change in price

(c) The responsiveness of quantity supply to a change in demand

(d) The responoiveness of price to a change in the quantity supplied

Ans. b

2. If a 5% fall in the price of a commodity causes quanitity supplied to decrease by 8%, then supply is

(a) elastic

(b) inelastic

(c) unit elastic

(d) perfectly inelastic

Ans. a

3. The market period supply curve for perishable commodities is

(a) relatively inelastic

(c) relatively elastic

(b) perfectly inelastic

(d) perfectly elastic

Ans. b

4. If a 5% increase in the price of one good results in a decrease of 2% in the quantity supplied of another good, then it can be concluded that the two goods are

(a) complements

(b) substitutes

(c) independent

(d) normal

Ans. b

5. The supply of a particular product will be more inelastic

(a) the longer it takes to produce the good

(b) the longer the good can be stored

(c) the greater the number of firms in the industry

(d) the greater the amount of spare capacity in the industry

Ans. a

MCQ on Demand and Supply with Answers

6. The elasticity of supply of a commodity measures the with which

(a) its productioni can be expanded in response to a change

(b) additianal units of a fixed factor used in its production can be obtained

(c) units of a variable factor can be substituted for units of a fixed factor used in its production

(d) additional units of a factor used in its production can be purchased at going rates

Ans. a

7. The chief determinant of price elasticity of supply of product is

(a) the number of good substitutes the product has

(b) the length of time sellers have to adjust to a change in price

(c) whether the product is a luxury or necessity

(d) whether the product is a durable or a non-durable good

Ans. b

8. If supply is inelastic and demand decreases, the total revenue of sellers will

(a) increase

(b) decrease

(c) decrease only if demand is elastic

(d) increase only if demand is inelastic

Ans. c

9. Which one of the following is likely to lead directly shift in the supply curve for dresses?

(a) An increase in the income of consumers

(b) A reduction in a tariff on imported cotton used in dress manufacture

(c) A successful advertising campaign by an association of dress manufacturers

(d) An increase in the prices of skirts and blouses

Ans. b

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Multiple choice questions of Subject Commerce MCQs Topic Office Management Questions and Answers pdf ( Office Management Questions and Answers pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Office Management Questions and Answers pdf | Office Manager Test Questions

1. The functions to be performed in an office can be categorised as

(a) primary functions

(b) secondary functions

(c) management tunctions

(d) Both ‘a’ and ‘c

Ans. d

2. Which among the following is/are primary functions of office?

(a) It receives intormation from various departments of the organisation or from outside

(b) It is required to convert the information received into other forms, so that it can be easily understood by the managenent

(c) Both ‘a’ and ‘b’

(d) None of the above

Ans. c

3. Which among the following is/are management functions of an office?

(a) It is required to colect, process, categorise, arrange and present information for analysis and reference

(b) For smooth flow of work, development of office system and procedures is essential

(c) Both ‘a’ andb

(d) None of the above

Ans. b

4. …… is understood to be a place where clerical work is done and all kinds of paper work is maintained and dealt with.

(a) Office

(c) Reception

(b) Factory

(d) None of the above

Ans. a

5. To protect and safeguard the assets against destruction, damage, loss, etc., is a . function of an office.

(a) primary

(b) secondary

(c) managerment

(d) None of the above

Ans. c

6. Office is important for an organisation because

(a) it ofters important clerical and other services to other departments of the organisation

(b) it is the information centre of the business

(c) it connects the outsiders with different departments and vice-versa

(d) All of the above

Ans. d

7. “Office management is the manipulation and control of men, methods, machines and materials to achieve the best possible results of the highest possible quality with the best possible efforts and expenses in the shortest practicable time and in a manner acceptable to the management”. The above definition is given by

(a) RH Wessel

(c) Wyle and Brecht

(b) Howard and Upton

(d) Soloman

Ans. c

8. Who is responsible for office management ?

(a) Receptionist

(c) Managing director

(b) Office manager

(d) Chief executive officer

Ans. b

9. The duties and responsibilities of an office manager are

(a) he has to coordinate the work of different sub-units of the office

(b) he is resporisible to maintain discipline in the office

(c) Both a’ and b’

(d) None of the above

Ans. c

10. The qualities required to be possessed by an office manager are

(a) education and training

(c) leadership

(b) experience

(d) All of these

Ans. d

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