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Commerce Questions and Answers for Competitive Exams | Commerce Quiz Set 26

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(1) A flexible budget requires careful study and classification of expenses into
[1] Product expenses and period expenses
[2] Past and current expenses
[3] Administrative, selling and factory expenses
[4] Fixed, semi-variable and variable expenses
Answer: Fixed, semi-variable and variable expenses
(2) Responsibility accounting aims at collecting and reporting costing information
[1] Department-wise
[2] Cost centre-wise
[3] Function-wise
[4] Product-wise
Answer: Cost centre-wise

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(3) Return on Investment (RoI) is computed as
[1] Net Profit Ratio × Capital Turnover Ratio
[2] Operating Net Profit Ratio × Shareholders Fund
[3] Net Profit / Sales
[4] Cost of Sales / Capital Employed
Answer: Net Profit Ratio × Capital Turnover Ratio
(4) Pre-acquisition profit in subsidiary company is considered as
[1] Revenue profit
[2] Capital profit
[3] Goodwill
[4] Minority interest
Answer: Capital profit
(5) The type of lease requiring an agreement between the financier and lessor is known as
[1] Financial lease
[2] Sale and lease back
[3] Leveraged lease
[4] Operating lease
Answer: Leveraged lease
(6) Monopolists prefer to sell the products in the markets with
[1] Elastic demand
[2] Unitary elastic demand
[3] Absence of elasticity of demand
[4] Inelastic demand
Answer: Elastic demand
(7) In the hypothesis testing procedure a researcher may commit type II error in which of the following conditions ?
[1] When the true null hypothesis is rejected.
[2] When the alternative hypothesis is accepted.
[3] When the false null hypothesis is accepted.
[4] When the true null hypothesis is accepted
Answer: When the false null hypothesis is accepted.
(8) Which one of the following tenets is not correct in the context of Central Limit Theorem ?
[1] If a population from which a sample is drawn is normally distributed the sampling distribution of mean (SDM) will be normal for all sample sizes.
[2] The mean of the SDM is the population mean.
[3] If the population is not normal from which the sample is drawn, the SDM is not normal for any sample size.
[4] If the population is not normal from which a sample is drawn, the SDM approaches normality as the sample size increases.
Answer: If the population is not normal from which the sample is drawn, the SDM is not normal for any sample size.
(9) Which one of the following is not an example of tax evasion?
[1] Submitting misleading documents.
[2] Not maintaining proper accounts of income earned.
[3] Suppression of facts.
[4] Interpreting the tax law in ones own way to minimise tax liability.
Answer: Interpreting the tax law in ones own way to minimise tax liability.
(10) Which one of the following is not the purpose of performance-monitoring research ?
[1] To provide feedback for evaluation and control.
[2] To indicate things that are not going as planned.
[3] To help the organisation to plan various activities.
[4] It is required to explain why something went wrong.
Answer: To help the organisation to plan various activities.
(11) The transformation of raw data into a form that will make them easy to understand and interpret, rearranging and manipulating data to generate information is called
[1] Descriptive research
[2] Descriptive analysis
[3] Causal research
[4] Exploratory research
Answer: Descriptive analysis
(12) F.W. Taylor called “The Military type of Foreman” to
[1] Unity of Command
[2] Span of Control
[3] Delegated Legislature
[4] Department
Answer: Unity of Command
(13) Which of the following is not a method of segmenting a market ?
[1] Behavioural segmentation
[2] Psychographic segmentation
[3] Benefits segmentation
[4] Customer segmentation
Answer: Customer segmentation
(14) Consumer attitudes and beliefs about diet, health and nutrition are influenced by
[1] Economic environment
[2] Social environment
[3] Cultural environment
[4] Natural environment
Answer: Cultural environment
(15) Which of the following is not a product-mix strategy ?
[1] Trading up
[2] Alteration
[3] Simplification
[4] Value addition
Answer: Value addition

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