Tag: commercial studies

Quizzes (186) Questions (1136)

Questions Related to commercial studies

Multiple choice commercial studies striving for a better environment soil and its conservations soil pollution-control protecting our environment

The pH of water sample collected from a river was found to be acidic in the range of 3.5 to 4.5, on the banks of the river were several factories that were discharging effluents into the river. The effluents of which one of the following factories is the most likely cause for lowering the pH of river water?

  1. Soap and detergent factory

  2. Lead battery manufacturing factory

  3. Plastic cup manufacturing factory

  4. Alcohol distillery
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Lead battery manufacturing factory have acid electrolyte, so it will cause for lowering tin pH of river water.

Multiple choice commercial studies striving for a better environment soil and its conservations soil pollution-control protecting our environment

In this soil conservation method, several grasses are left out in soil after the crop is harvested

  1. Tillage

  2. Crop rotation

  3. Terrace farming

  4. Contour farming
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Tillage is the method of mechanical agitation of various types like as digging, stirring, and overturning to improve the crop yield. Crop rotation helps in increase in soil fertility. It is the process of growing a series of different crops in the same area in sequenced seasons. Terrace farming is a type of farming that consists of various steps or terraces. In contour farming, several grasses are left out in soil after the crop is harvested. In contour farming, crops are placed perpendicular to slopes to follow the contours of a slope of a field. This helps in breaking down the flow of water and prevent soil erosion.

Thus, the correct answer is 'Contour farming.'

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

Costing system, which is a combination of process costing and job costing system is classified as _____________.

  1. weighted costing system

  2. average costing system

  3. hybrid costing system

  4. double costing system
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Hybrid costing is a combination of process costing and job costing, used when products have both unique and common features.

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

Element/s of Cost of a product are _________.

  1. Material only

  2. Labour only

  3. Expenses only

  4. Material, Labour and expenses
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The three primary elements of cost for any product are direct materials, direct labor, and manufacturing overheads (expenses).

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

One of the book selection principles states that ''the best reading for the largest number at the__________ Cost.''

  1. Maximum

  2. Medium

  3. Least

  4. Zero
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Melvil Dewey's principle of book selection emphasizes providing the best reading material for the largest number of people at the least cost.

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

A saree manufacturer marks 20% higher price on his sarees. He allows 10% discount to the coustomer and earns a profit of Rs. 56 The cost of the saree is _____________.

  1. Rs. 700

  2. Rs. 600

  3. Rs. 800

  4. Rs. 1, 000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let cost be C. Marked price = 1.2C. Selling price = 0.9 * 1.2C = 1.08C. Profit = 1.08C - C = 0.08C = 56. C = 56 / 0.08 = 700.

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

Method which divides support department cost into two dimensions such as fixed and variable cost pool is classified as _____________.

  1. sales mix allocation method

  2. dual-rate cost-allocation method

  3. single rate cost allocation method

  4. quantity variance allocation method
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The dual-rate cost-allocation method classifies costs into fixed and variable pools and allocates them using different bases for each.

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

A manager who is responsible for only cost of company belongs to _____________.

  1. cost center

  2. revenue center

  3. profit center

  4. investment center
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A cost center is a department or function within an organization that incurs costs but does not directly generate revenue.

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology meaning and features of balance sheet income-expenditure account meaning, importance and specimen of journal objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

Which of the following is not an advance given by a bank?

  1. Loan

  2. Overdraft

  3. Deposit

  4. Cash credit
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Deposit is a money deposited by customer in bank for saving.