Business Studies/Financial Accounting MCQ Part – 3 Sample Test,Sample questions

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Question:
 If the hire vendor may take away all the goods on which there is default of installment it is called
____________
  
 
 
 

1.repossession

2.partial repossession

3.complete repossession

4.purchase

Posted Date:-2022-01-04 04:36:07


Question:
 Imperfect competition was introduced by ����-

1.variable cost

2.Chamberlin

3.Keynes

4.None

Posted Date:-2022-01-04 06:45:06


Question:
 In cross elasticity of demand  for unrelated goods the demand curve will be��-

1.Horizontal straight line

2.rectangular hyperbola

3.vertical line

4.none of the above

Posted Date:-2022-01-04 06:45:06


Question:
 In single entry system of accounting ___________
 

1.Dual aspects of a transaction is recorded

2. Single aspect of a transaction is recorded

3. Important transactions are recorded

4. All of them

Posted Date:-2022-01-04 04:36:07


Question:
 In the books of hirer for payment of installment hire vendor account will be ___________
 
 

1.rectifie

2.credite

3.debite

4.reverse

Posted Date:-2022-01-04 04:36:07


Question:
 Opening balance of creditors will be posted in which side of creditors account?

1.Debit

2.Credit

3.Outside

4.Inside

Posted Date:-2022-01-04 04:36:07


Question:
 The short run is a time period in which ��-

1.all resources are fixed

2.the level of output is fixed

3.the size of the production plant is variable

4.some resources are fixed and others are variable

Posted Date:-2022-01-04 06:45:06


Question:
 Total creditors account is prepared to find out _______
 
 
 
 
 

1.opening balance of debtors

2.closing balance of debtors

3.opening balance of creditors

4.closing balance of creditors

Posted Date:-2022-01-04 04:36:07


Question:
 Under hire purchase system interest is calculated on _______
 
 
 

1.cash price

2.hire purchase price

3.MRP

4. outstanding balance

Posted Date:-2022-01-04 04:36:07


Question:
 Which of the following are not related to factors of production(FOP)

1.land

2.capital

3.raw material

4.labour

Posted Date:-2022-01-04 06:45:06


Question:
A bills payable account is prepared to ascertain bills __________
 
 
 
 
 

1.accepte

2.receive

3.drawn

4.endorse

Posted Date:-2022-01-04 04:36:07


Question:
A bills receivable account is prepared to ascertain bills _______
 
 
 
 
 

1.accepte

2.receive

3.drawn

4.endorse

Posted Date:-2022-01-04 04:36:07


Question:
A company purchased a vehicle for $6000 I will be used for 5 years and its residual value is expected to be Rs1000 What is the annual amount of deprecation using straight line method of depreciation?
 
 
 
 

1.Rs3000

2.Rs2000

3.Rs1000

4.Rs3300

Posted Date:-2022-01-04 04:36:07


Question:
A distinguishing characteristic of monopolistic competition is ������

1.Large number of firms

2.Low entry barriers

3.product standardisation

4.product differentiation

Posted Date:-2022-01-04 06:45:06


Question:
A fixed asset was bought for Rs5000 Its accumulated depreciation is Rs3000 and rate of depreciation is 20% Calculate its depreciation expenses for the current accounting period using reducing balance method?
 
 

1.Rs600

2.Rs500

3.Rs750

4.Rs400

Posted Date:-2022-01-04 04:36:07


Question:
A graph showing all the combination of capital and labour available for a given total cost is the ��-

1.isoquant

2.budget constraint

3.isocost line

4.expenditure set

Posted Date:-2022-01-04 06:45:06


Question:
An agreement of hiring with option to buy is ____________
 
 
 
 

1.installment system

2.credit system

3.hire purchase system

4.cash system

Posted Date:-2022-01-04 04:36:07


Question:
An LAC curve is not known as �����

1.Envelope curve

2.Planning curve

3.operating curve

4.plant curve

Posted Date:-2022-01-04 06:45:06


Question:
Bills payable account closing balance will appear in ____________
  
 
 
 

1.debit

2.credit

3.outside

4.inside

Posted Date:-2022-01-04 04:36:07


Question:
Bills payable account opening balance will appear in ____________
  
 
 
 

1.debit

2.credit

3.outside

4.inside

Posted Date:-2022-01-04 04:36:07


Question:
Bills payable dishonoured will be posted in which side of bills payable account?
 
 
 
 

1.Debit

2.Credit

3.Outside

4.Inside

Posted Date:-2022-01-04 04:36:07


Question:
Bills receivable account opening balance will appear in _________
  
 
 
 

1.debit

2.credit

3.outside

4.inside

Posted Date:-2022-01-04 04:36:07


Question:
Bills receivable dishonored will be posted in ___________
 
 
  
 
 

1.debit

2.credit

3.outside

4.inside

Posted Date:-2022-01-04 04:36:07


Question:
Bills receivable dishonored will be posted to _______ side of debtors account
 
 
 
 

1.debit

2.credit

3.outside

4.inside

Posted Date:-2022-01-04 04:36:07


Question:
car and petrol are �- goods

1.substitutes

2.complementary

3.producers

4.None of the above

Posted Date:-2022-01-04 06:45:06


Question:
Cartel is a part of ������

1.Monopoly

2.Oligopoly

3.Duopoly

4.Perfect competition

Posted Date:-2022-01-04 06:45:06


Question:
Cash account closing balance will appear in __________
  
 
 
 

1.debit

2.credit

3.outside

4.inside

Posted Date:-2022-01-04 04:36:07


Question:
Cash account opening balance will appear in _______
  
 
 

1.debit

2.credit

3.outside

4.inside

Posted Date:-2022-01-04 04:36:07


Question:
Cash price plus interest is _________
 
 
 

1.installment price

2.hire purchase price

3.maximum retail price

4. retail price

Posted Date:-2022-01-04 04:36:07


Question:
Closing balance of creditors will be posted in which side of creditors account?
 
 
 
 

1.Credit

2.Debit

3.Outside

4.Inside

Posted Date:-2022-01-04 04:36:07


Question:
Cobb Douglas production function mainly studies ���

1.capital and labour

2.labour and expenditure

3.land and labour

4.land and capital

Posted Date:-2022-01-04 06:45:06


Question:
Concentration of monopoly is implemented under ������

1.FERA

2.MRTP

3.FEMA

4.None

Posted Date:-2022-01-04 06:45:06


Question:
Gradual long term movement in time series data is called ���

1.Seasonal variation

2.cycles

3.trends

4.exponential variation

Posted Date:-2022-01-04 06:45:06


Question:
Hire purchase system is governed by ___________
 

1.Hire Purchase Act 1972

2. Hire Purchase Act 1973

3. Hire Purchase Act 1974

4. Hire Purchase Act 1975

Posted Date:-2022-01-04 04:36:07


Question:
If firms can neither enter nor leave an industry  the relevant time period is the ���

1.Short run

2.Intermediate run

3.Immediate run

4.none

Posted Date:-2022-01-04 06:45:06


Question:
If the hire purchaser fails to make payment of any installment it is called _______
 
 
 

1.default

2.repossession

3.sale

4. purchase

Posted Date:-2022-01-04 04:36:07


Question:
Implicit costs are ��-

1.equal to total fixed costs

2.comprised entirely of variable costs

4.always greater in the short run than in the long run

Posted Date:-2022-01-04 06:45:06


Question:
In case of monopoly  a firm in the long run can have �����

1.Loss

2.Profit

3.Supernormal profit

4.All of the above

Posted Date:-2022-01-04 06:45:06


Question:
In perfect competition equilibrium is attained when ������

1.AR = AC

2.TR=TC

3.MR=MC

4.Q=P

Posted Date:-2022-01-04 06:45:06


Question:
In sample survey method �� technique is adopted

1.deliberate

2.convenience

3.quota

4.random

Posted Date:-2022-01-04 06:45:06


Question:
In the books of hire vendor which account will be debited for hire sales _______
 
 
 
 

1.buyer

2.hirer

3.hire vendor

4.debtor

Posted Date:-2022-01-04 04:36:07


Question:
In the books of hirer for interest due at the end of the year hire vendor account will be _______
 
 
 

1.debite

2.credite

3.rectifie

4.reverse

Posted Date:-2022-01-04 04:36:07


Question:
In the books of hirer for payment of down payment hire vendor account will be _______

1.debited

2.credite

3.rectifie

4.reverse

Posted Date:-2022-01-04 04:36:07


Question:
In the books of Hirer the interest and depreciation account will be transferred to ______
 
 
 
 

1.Trading account

2.P & L account

3.P & L appropriation account

4.Balance sheet

Posted Date:-2022-01-04 04:36:07


Question:
In the books of hirer when the asset is repossessed asset account will be ______
 
 
 
 

1.debite

2.credite

3.rectifie

4.reverse

Posted Date:-2022-01-04 04:36:07


Question:
In the books of hirer when the asset is repossessed hire vendor account will be ______
 
 
 

1.debite

2.credite

3.rectifie

4.reverse

Posted Date:-2022-01-04 04:36:07


Question:
In the Law of variable proportion when TP is maximum then the MP = ��

1.MP = 1

2.MP<0

3.MP=0

4.MP>!

Posted Date:-2022-01-04 06:45:06


Question:
Installment system is governed by __________
 
 
 
 Properties Registration Act

1.Hire Purchase Act

2.Sale of Goods Act

3.Installment Act

4.Properties Registration Act

Posted Date:-2022-01-04 04:36:07


Question:
Inthe short run as economists use the phrase is characterised by ��-

1.all inputs being variable

2.a period where the law of diminishing return does no hold

3.at least one fixed factor of production and firms neither leaving nor entering the industry

4.no variable inputs

Posted Date:-2022-01-04 06:45:06


Question:
�- input factor is divided as skilled  semiskilled  unskilled

1.land

2.capital

3.Technology

4.labour

Posted Date:-2022-01-04 06:45:06


Question:
�- is the remuneration for organisation

1.rent

2.wages

3.interest

4.profit

Posted Date:-2022-01-04 06:45:06


Question:
�� costs are business costs which do not involve any cash payments but for them a provision is made in accounts

1.private cost

2.social cost

3.accounting cost

4.book cost

Posted Date:-2022-01-04 06:45:06


Question:
�� Economics views on reducing the production costs

1.internal

2.inventory

3.pecuniary

4.External

Posted Date:-2022-01-04 06:45:06


Question:
kinked demand curve is associated with ������

1.Cournot

2.Chamberlin

3.Edgeworth

4.Sweezy

Posted Date:-2022-01-04 06:45:06


Question:
Marginal cost curve cuts the average cost curve �����

1.at the left of its lowest point

2.at its lowest point

3.at the right of its lowest point

4.at its highest point

Posted Date:-2022-01-04 06:45:06


Question:
Marginal cost is defined as

1.change in total cost due to change in output

2.total cost divided by output

3.change in output due to a change in an input

4.total product divided by the quantity of input

Posted Date:-2022-01-04 06:45:06


Question:
Marginal cost means ��������

1.Substitutional cost

2.addition to the total cost

3.multiplication to the total cost

4.variable cost

Posted Date:-2022-01-04 06:45:06


Question:
Miroeonomi theory is lso known s ��
 
 

1.usiness Theory

2.ost Theory

3. Iniviul Theory

4. Prie Theory

Posted Date:-2022-01-04 06:45:06


Question:
Money paid to an unskilled labour is called �����

1.Wages

2.Salary

3.Royalty

4.None

Posted Date:-2022-01-04 06:45:06


Question:
Opening balance of debtors will be posted in which side of debtors account?
 
 
 
 

1.Debit

2.Credit

3.Outside

4.Inside

Posted Date:-2022-01-04 04:36:07


Question:
Passive factor of production is ��-

1.only land

2.only capital

3.both land and capital

4.neither land nor capital

Posted Date:-2022-01-04 06:45:06


Question:
Reasons for increasing return in stage I of law of variable proportion is ���

1.Indivisibility

2.Specialisation

3.both a and b

4.none of the above

Posted Date:-2022-01-04 06:45:06


Question:
Revenue Reserve does not include __________
 
 
 
 

1.Profit & Loss Account

2.Secret Reserve

3.General Reserve

4.Securities Premium

Posted Date:-2022-01-04 04:36:07


Question:
Statement of financial position produced from incomplete accounting record is commonly known as
____________
 

1.Balance sheet

2. Cash flow statement

3. Statement of affairs

4. Statement of financial operations

Posted Date:-2022-01-04 04:36:07


Question:
Supply is a function of ��

1.a straight line

2.a parabolaL

3.a hyperbola

4.convex to the origin

Posted Date:-2022-01-04 06:45:06


Question:
Tea and coffee are �� goods

1.substitutes

2.complementary

3.producers

4.none of the above

Posted Date:-2022-01-04 06:45:06


Question:
The advance amount under hire purchase system is called __________
 
 
 

1.cash price

2.retail price

3.interest

4.down payment

Posted Date:-2022-01-04 04:36:07


Question:
The cost with which the concept of marginal cost is closely related

1.variable cost

2.fixed cost

3.opportunity cost

4.economic cost

Posted Date:-2022-01-04 06:45:06


Question:
The costs that depend on output in the short run are ��-

1.total variable costs only

2. both total variable costs and total costs

3.total costs only

4.total fixed cost only

Posted Date:-2022-01-04 06:45:06


Question:
The formula for average fixed costs is ���-

1.TFC/Q

2.DQ/DFC

3.Q/TFC

4.TFC � Q

Posted Date:-2022-01-04 06:45:06


Question:
The hire vendor takes away only a portion of the goods on which there is default of Installments it is
called _________
  
 
 

1.repossession

2.partial repossession

3. complete repossession

4.purchase

Posted Date:-2022-01-04 04:36:07


Question:
The supply of a product does not depend on ��-

1.labour costs

2.the number of sellers in the market

3.consumers tastes

4.existing technology

Posted Date:-2022-01-04 06:45:06


Question:
The supply of a product does not depend on ��-

1.labour costs

2.the number of sellers in the market

3.consumers tastes

4.existing technology

Posted Date:-2022-01-04 06:45:06


Question:
The total outlay method explains the relationship between price and ��A 

1.demand

2.supply

3.expenditure

4.income

Posted Date:-2022-01-04 06:45:06


Question:
The upper portion of the kinked demand curve is relatively �����

1.More inelastic

2.More elastic

3.Less elastic

4.Less inelastic

Posted Date:-2022-01-04 06:45:06


Question:
The vertical difference between TVC and TC is equal to ��

1.MC

2.AVC

3.TFC

4.none

Posted Date:-2022-01-04 06:45:06


Question:
Time-series data may exhibit which of the following behaviours?

1.Trend

2.Random variation

3.Seasonality

4.Cycles

Posted Date:-2022-01-04 06:45:06


Question:
Under hire purchase system each installment is treated as __________
 
 
 
 

1.interest

2.cash price

3.hire charges

4.advance

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system if installment is not paid the hire vendor has right to ___________
 
 
 
 

1.sell the goods

2.repossession of goods

3.repair the goods

4.purchase the goods

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system the agreement can be _________
 
 
 
 

1.renewe

2.registere

3.terminate

4.endorse

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system the buyer is called _________
 
 
 
 

1.buyer

2.hirer

3.hire vendor

4.debtor

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system the relationship of hirer and hire vendor is ______
 
 
 
 

1.buyer and seller

2.bailor and bailee

3.pawner and pawnee

4.debtor and creditor

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system the retail price of the articles is called ________
 
 
 

1.MRP

2.wholesale price

3.retail price

4.cash price

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system the risk of loss is borne by ____________
 
 
 
 

1.buyer

2.hirer

3.debtor

4.hire vendor

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system the seller is called _________
 
 
 

1.buyer

2.hirer

3.hire vendor

4.debtor

Posted Date:-2022-01-04 04:36:07


Question:
Under hire purchase system who has the right of sell __________
 
 
 
 

1.buyer

2.hirer

3.hire vendor

4.debtor

Posted Date:-2022-01-04 04:36:07


Question:
Under installment system the relationship between the buyer and seller is that of a _________
 
 
 
 

1.buyer and seller

2.bailor and bailee

3.pawner and pawnee

4.debtor and creditor

Posted Date:-2022-01-04 04:36:07


Question:
Under installment system the risk of loss is borne by ________
 
 
 

1.buyer

2.hirer

3. hire vendor

4.debtor

Posted Date:-2022-01-04 04:36:07


Question:
Under which system ownership is transferred on payment of final installment?
 
 
 
 

1.Installment system

2.Credit system

3.Hire purchase system

4.Cash system

Posted Date:-2022-01-04 04:36:07


Question:
Under which system ownership is transferred on signing of the agreement?
 Installment system
 
 
 
 

1.Installment system

2.Credit system

3.Hire purchase system

4.Cash system

Posted Date:-2022-01-04 04:36:07


Question:
Variable costs are ��������

1.Sunk costs

2.Multiplied by fixed cost

3.Cost that change with the level of productio

4.the change in total cost resulting from the production of an additional unit of output

Posted Date:-2022-01-04 06:45:06


Question:
What are homogenous products?

1.Undifferentiated products

2.Differentiated products

3.Both (a) and (b)

4.None

Posted Date:-2022-01-04 06:45:06


Question:
What is depreciation?
 
 

1.Cost of a fixed asset

2. Cost of a fixed assets repair

3. The residual value of fixed asset

4.Portion of a fixed assets cost consumed during the current accounting period

Posted Date:-2022-01-04 04:36:07


Question:
What is the accumulated deprecation?
 Sum of all depreciation expenses of a fixed asset
 
 
 

1.Depreciation expenses

2.Cost of depletion of assets

3.Future value of fixed asset

4.None of them

Posted Date:-2022-01-04 04:36:07


Question:
When the total product curve is falling  ���-

1.marginal product curve is zero

2.marginal product curve is negative

3.average product is increasing

4.average product is negative

Posted Date:-2022-01-04 06:45:06


Question:
Which factor of production is considered as fixed input

1.labour

2.technology

3.capital

4.land

Posted Date:-2022-01-04 06:45:06


Question:
Which of the following is correct?

1.TC = TFC+TVC

2.TFC=TC-TVC

3.TVC=TC-TFC

4.None of the above

Posted Date:-2022-01-04 06:45:06


Question:
Which of the following is not present in a time series?

1.Seasonality

2.operational variations

3.trend

4.random variations

Posted Date:-2022-01-04 06:45:06


Question:
Which of the following techniques uses variables such as price and promotional expenditures  which are
related to the product demand  to predict demand

1.Associative models

2.exponential smoothing

3.weighted moving average

4.simple moving average

Posted Date:-2022-01-04 06:45:06


Question:
Whih will use  hnge in the emn for goo X?
  

1.hnge in tste

2. hnge in Inome

3. hnge in the prie of X

4. hnge in the prie of omplementry prout

Posted Date:-2022-01-04 06:45:06


More MCQS

  1. Business Studies-[Class 11-MCQ ]-Chapter 1- Nature and Purpose of Business
  2. Business Studies-[Class 11-MCQS ]-Chapter 2 Forms of Business Organisation
  3. Business Studies-[Class 11-MCQS ]-Chapter 3 Private, Public and Global Enterprises
  4. Business Studies-[Class 11-MCQS ]-Chapter 4 Business Services
  5. Business Studies-[Class 11-MCQS ]-Chapter 5 Emerging Modes of Business
  6. Business Studies-[Class 11-MCQS ]-Chapter 6 Social Responsibilities of Business
  7. Business Studies-[Class 11-MCQS ]-Chapter 7 Formation of a Company
  8. Business Studies-[Class 11-MCQS ]-Chapter 8 Sources of Business Finance
  9. Business Studies-[Class 11-MCQS ]-Chapter 9 Small Business
  10. Business Studies-[Class 11-MCQS ]-Chapter 10 Internal Trade
  11. Business Studies-[Class 11-MCQS ]-Chapter 11 International Business
  12. Business Studies-[Class 11-MCQS ]-Chapter 12 International Business
  13. Business Studies-[Class 12-MCQS ]-Chapter 1 Nature and Significance of Management
  14. Business Studies-[Class 12-MCQS ]-Chapter 2 Principles of Management
  15. Business Studies-[Class 12-MCQS ]-Chapter 3 Business Environment
  16. Business Studies-[Class 12-MCQS ]-Chapter 4 Planning
  17. Business Studies-[Class 12-MCQS ]-Chapter 5 Organising
  18. Business Studies-[Class 12-MCQS ]-Chapter 6 Staffing
  19. Business Studies-[Class 12-MCQS ]-Chapter 7 Directing
  20. Business Studies-[Class 12-MCQS ]-Chapter 9 Financial Management
  21. Business Studies-[Class 12-MCQS ]-Chapter 10 Financial Market
  22. Business Studies-[Class 12-MCQS ]-Chapter 11 Marketing
  23. Business Studies-[Class 12-MCQS ]-Chapter 12 Consumer Protection
  24. Financial Accounting MCQ Part – 2
  25. Financial Accounting MCQ Part – 3
  26. Business Economics MCQ Part 2
  27. Business Economics MCQ Questions and Answers Part – 3
  28. Corporate Finance MCQ Set 1
  29. Corporate Finance MCQ Set 2
  30. Direct Tax MCQ Set 2
  31. Business Information Systems MCQ Set 1
  32. Business Information Systems MCQ set 2
  33. Business Information Systems MCQ set 3
  34. Business Law MCQ Set 1
  35. Business Law MCQ Set 2
  36. Business Law Set 3
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