McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
| 51. |
A demand loan is payable on …………………………………….. |
| A. | Demand |
| B. | At any time |
| C. | after one yea |
| D. | after six months |
| Answer» A. Demand | |
| 52. |
Banks shown provision for income tax under the head ………………. |
| A. | Other liabilitie |
| B. | Contingent liabilities |
| C. | Other liabilities and provisions |
| D. | None of these |
| Answer» A. Other liabilitie | |
| 53. |
No profit and loss appropriation account is prepared in case of a…………… company. |
| A. | Co – operative society |
| B. | Partnership |
| C. | Banking company |
| D. | None of these |
| Answer» C. Banking company | |
| 54. |
Banks are required to prepare final accounts for each ……….. year |
| A. | Financial |
| B. | Calendar |
| C. | Previous |
| D. | None of these |
| Answer» A. Financial | |
| 55. |
A banking company required to prepare its profit & loss account according to ……………………… of the III schedule of the Banking Regulations Act. |
| A. | Form A |
| B. | Form B |
| C. | Form C |
| D. | Form D |
| Answer» B. Form B | |
| 56. |
Rebate on bills discounted is shown on the liability side of the ………. |
| A. | Profit & loss a/c |
| B. | Income statement |
| C. | Balance sheet |
| D. | None of these |
| Answer» C. Balance sheet | |
| 57. |
Revenue reserve means any reserve other than ……………. Reserve |
| A. | General |
| B. | Capital |
| C. | Other reserve |
| D. | None of these |
| Answer» B. Capital | |
| 58. |
A …………. Company required to prepare its balance sheet according To form A in the III schedule of the Banking Regulation Act |
| A. | Insurance company |
| B. | Joint stock company |
| C. | Banking companies |
| D. | None of the above |
| Answer» C. Banking companies | |
| 59. |
A banking company required to prepare final accounts according to …………………schedule of the Banking Regulation Act |
| A. | III |
| B. | IV |
| C. | V |
| D. | VI |
| Answer» A. III | |
| 60. |
A banking company required to prepare its ……………. According to Form B in the III schedule of the Banking Regulations Act |
| A. | Balance sheet |
| B. | Profit & loss appropriations account |
| C. | Profit & loss account |
| D. | Position statement |
| Answer» C. Profit & loss account | |
| 61. |
A banking company prepares its ……………….. according to Form A Of the Banking Regulations Act |
| A. | Fund flow statement |
| B. | Cash flow method |
| C. | Balance sheet |
| D. | Income statement |
| Answer» C. Balance sheet | |
| 62. |
Section 5(1) b of Banking Regulations Act , 1949 deals with |
| A. | Banking |
| B. | Insurance |
| C. | Bills |
| D. | Dividend |
| Answer» A. Banking | |
| 63. |
Banking Regulations Act 1949 Section 17 deals with |
| A. | General Reserve |
| B. | Reserve fund |
| C. | capital reserve |
| D. | Statutory reserve |
| Answer» D. Statutory reserve | |
| 64. |
Depreciation on bank property , directors fees , and auditors fees are examples of schedule……………………………….. |
| A. | 13 |
| B. | 14 |
| C. | 15 |
| D. | 16 |
| Answer» D. 16 | |
| 65. |
Assets which does not carry more than normal risk attach to business and no provision in required to be made against such assets are called |
| A. | standard asset |
| B. | substandard asset |
| C. | Fixed asset |
| D. | current asset |
| Answer» A. standard asset | |
| 66. |
The claim lodged by the business to …………………….. on happening the event is known as insurance claim |
| A. | Banking company |
| B. | Joint stock company |
| C. | Insurance company |
| D. | None of these |
| Answer» C. Insurance company | |
| 67. |
The account prepared to find out the stock as on the date of fire is known as ……………………………… trading accounts. |
| A. | statement |
| B. | memorandum |
| C. | consolidated |
| D. | joint |
| Answer» B. memorandum | |
| 68. |
The clause through which the insurance claim due to loss of stock is reduced to the proportion that the policy value is ………………………….. |
| A. | Total clause |
| B. | minimum clause |
| C. | maximum clause |
| D. | Average clause |
| Answer» D. Average clause | |
| 69. |
The ………………………. Is less than the value of stock it is called under insurance? |
| A. | Endowment policy |
| B. | Life policy |
| C. | Accident policy |
| D. | Insurance policy |
| Answer» D. Insurance policy | |
| 70. |
Insurance claim is a claim ……………………… by the insurance company |
| A. | Lodged |
| B. | Longed |
| C. | Lounged |
| D. | laughed |
| Answer» A. Lodged | |
| 71. |
Consequential loss policy is also known as ………………………. |
| A. | Loss of cost policy |
| B. | loss of profit policy |
| C. | loss of Operation cost policy |
| D. | loss of operating expenses policy |
| Answer» B. loss of profit policy | |
| 72. |
It is ………………………….. to ascertain the value of stock as on the date of fire |
| A. | very easy |
| B. | not very easy |
| C. | very difficult |
| D. | not very difficult |
| Answer» C. very difficult | |
| 73. |
…………………….. is prepared to find out the stock as on the date of fire |
| A. | Trading account |
| B. | Profit and loss account |
| C. | manufacturing account |
| D. | memorandum trading account |
| Answer» D. memorandum trading account | |
| 74. |
………………………. Is the difference between standard sales and actual sales of dislocated period |
| A. | short sale |
| B. | Total sales |
| C. | gross sales |
| D. | Net sales |
| Answer» A. short sale | |
| 75. |
The turnover during that period in the twelve month immediately before the date of damage which corresponds with the indemnity period is called ………………………………. |
| A. | Annual turnover |
| B. | standard turnover |
| C. | total turnover |
| D. | Net turnover |
| Answer» B. standard turnover | |
| 76. |
Investment made to earn regular income |
| A. | marketable securitie |
| B. | fixed investments |
| C. | Trade Investments |
| D. | short term investments |
| Answer» C. Trade Investments | |
| 77. |
The price quoted includes interest |
| A. | cum interest |
| B. | ex-interest |
| C. | excluding interest |
| D. | None of these |
| Answer» A. cum interest | |
| 78. |
Ex – dividend quotation ……………………………… |
| A. | including dividend |
| B. | excluding dividend |
| C. | excess of dividend |
| D. | cumulative of dividend |
| Answer» B. excluding dividend | |
| 79. |
In respect of government security the price quoted is usually |
| A. | Ex- interest |
| B. | cum interest |
| C. | including interest |
| D. | none of above |
| Answer» A. Ex- interest | |
| 80. |
Short term investments made out of idle cash are called |
| A. | marketable securitie |
| B. | fixed investments |
| C. | trade investments |
| D. | none of these |
| Answer» A. marketable securitie | |
| 81. |
Trade investment are investment made for ……………. Period |
| A. | short period |
| B. | long period |
| C. | Two years period |
| D. | None of these |
| Answer» B. long period | |
| 82. |
Ex – interest means …………………………….. |
| A. | Inclusive of interest |
| B. | Including interest |
| C. | Excluding interest |
| D. | None of these |
| Answer» C. Excluding interest | |
| 83. |
Cum – interest means ……………………………………… |
| A. | Excluding interest |
| B. | Exclusive of interest |
| C. | cumulative interest |
| D. | none of the above |
| Answer» C. cumulative interest | |
| 84. |
Investment made for long period are called …………………… |
| A. | marketable securitie |
| B. | Temporary investments |
| C. | Trade investment |
| D. | Short investment |
| Answer» C. Trade investment | |
| 85. |
………………….. investment made for earning regular income |
| A. | short term investment |
| B. | marketable securities |
| C. | Temporary investment |
| D. | Trade investment |
| Answer» D. Trade investment | |
| 86. |
Investment in government debentures , bonds etc. come under ……… |
| A. | variable income bearing securities |
| B. | Temporary income bearing securities |
| C. | Fixed income bearing securities |
| D. | none of the above |
| Answer» C. Fixed income bearing securities | |
| 87. |
A ledger maintained where separate investment account prepared for a particular scrip is known as ……………………….. |
| A. | investment ledger |
| B. | purchase ledger |
| C. | Sales ledger |
| D. | none of these |
| Answer» A. investment ledger | |
| 88. |
When bonus share are received the average cost of the existing shares are ……………………………. |
| A. | Reduced |
| B. | Increased |
| C. | equal |
| D. | none of these |
| Answer» A. Reduced | |
| 89. |
Bonus shares are issued by ……………….. free reserves |
| A. | Generalizing |
| B. | Capitalizing |
| C. | equalizing |
| D. | None of these |
| Answer» B. Capitalizing | |
| 90. |
Bonus shares are issued out of ………………………………………………. |
| A. | capital reserve |
| B. | free reserve |
| C. | share premium |
| D. | none of these |
| Answer» B. free reserve | |
| 91. |
Right shares are issued to ………………….. share holders |
| A. | previou |
| B. | existing |
| C. | future |
| D. | None of these |
| Answer» B. existing | |
| 92. |
Investment account is ………………………. Account |
| A. | Personal |
| B. | Nominal |
| C. | Real |
| D. | Revenue a/c |
| Answer» C. Real | |
| 93. |
Sale of right is a ………………….. receipt in case of right issue |
| A. | Revenue |
| B. | capital |
| C. | deferred revenue |
| D. | none of these |
| Answer» B. capital | |
| 94. |
Brokerage is ………… in the cost of investment in the books of Purchase of investment |
| A. | Added |
| B. | deducted |
| C. | increased |
| D. | subtracted |
| Answer» A. Added | |
| 95. |
Interest accrued up to the date of sale of investments added to……………………………..Price. |
| A. | Ex-interest |
| B. | Cum-interest |
| C. | inclusive interest |
| D. | None of these |
| Answer» A. Ex-interest | |
| 96. |
The cost of right share is …………………………… |
| A. | added to the cost of investment |
| B. | no treatment is required |
| C. | Subtracted from the cost of investments |
| D. | None of the above |
| Answer» A. added to the cost of investment | |
| 97. |
Long term investments are carried at ……………………….. |
| A. | fair value |
| B. | cost price |
| C. | cost or market price which ever is less |
| D. | market price |
| Answer» B. cost price | |
| 98. |
Cost of investment includes …………. |
| A. | purchase cost |
| B. | brokerage paid |
| C. | stamp duty paid |
| D. | All of the above |
| Answer» D. All of the above | |
| 99. |
Short term investments are carried at ………………………………….. |
| A. | Fair price |
| B. | cost price |
| C. | cost or market price which ever is less |
| D. | Market value |
| Answer» C. cost or market price which ever is less | |
| 100. |
………… account is real account |
| A. | Brokerage |
| B. | Stamp duty |
| C. | purchase |
| D. | Investments |
| Answer» D. Investments | |
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