List of top Commerce Questions

Which of the following are quantitative methods of credit control adopted by Central Bank? A. Bank Rate Policy
B. Open Market Operations
C. Margin Requirements
D. Variable Reserve Ratio
E. Moral Suasion
Assertion (A):
Inflation reduces the purchasing power of money.
Reason (R):
During inflation, prices of goods and services rise continuously.
Match List - I with List - II:
Arrange the following components of Balance of Payments in correct order from current account to capital account:
A. Foreign Investments
B. Export and Import of Goods
C. Banking Capital
D. Services
E. Transfer Payments
Which of the following are functions of money? A. Medium of exchange
B. Measure of value
C. Store of value
D. Standard of deferred payment
E. Means of barter exchange
Ricardo explained the law of comparative advantage on the basis of:
Which of the following are the features of monopolistic competition? A. Large number of buyers and sellers
B. Product differentiation
C. Free entry and exit of firms
D. Homogeneous products
E. Selling costs
Arrange the following market forms in descending order of degree of competition:
A. Monopoly
B. Monopolistic Competition
C. Perfect Competition
D. Oligopoly
Assertion (A):
The demand curve under perfect competition is perfectly elastic.
Reason (R):
Under perfect competition, firms are price takers and can sell any quantity at prevailing market price.
Which of the following are the assumptions of Say's Law of Market? A. The size of market is not capable of expansion
B. Perfect competition prevails in factor and product market
C. There is optimum allocation of resources
D. Labour and capital cannot be raised based on price mechanism
E. All savings are automatically invested
If demand for a commodity increases with increase in consumer income, the commodity is known as:
Match List - I with List - II:
Arrange the following steps involved in calculation of National Income by Income Method in proper sequence:
A. Estimation of Net Factor Income from Abroad
B. Classification of Factor Income
C. Estimation of Domestic Income
D. Identification and Classification of Producing Enterprises
E. Estimation of National Income
Which of the following are the external micro environmental factors of a company? A. Suppliers
B. Competitors
C. Demographic
D. Public
E. Customers
Which of the following is NOT correct in respect of Phillips Curve?
Assertion (A):
As per Psychological law of consumption, when aggregate income increases, consumption expenditure also increases but by a somewhat smaller amount.
Reason (R):
As income increases, more and more of our wants get satisfied and lesser amounts are spent out of subsequent increases in income.
The Statutory Central Auditors are required to submit the Long Form Audit Report (LFAR) to the banks latest by:
Assertion (A):
Advertising is paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor.
Reason (R):
Any communication about an organisation, its products or policies through the media that is not paid for by the organisation will not be considered as advertising.
Arrange the following steps of consumer buying decision process in correct sequence:
A. Information Search
B. Purchase Decision
C. Evaluation of Alternatives
D. Problem Recognition
E. Post-Purchase Behaviour
Which of the following year is known as 'year of great divide' with reference to population of India?
According to Section 44AB of Income Tax Act, Tax Audit is compulsory for a person carrying on a profession, if his gross receipts in profession for Assessment Year 2025-26 exceeds:
Appointment of First Auditor in case of Government Company shall be made by CAG within:
Which of the following is incorrect statement for financial auditing?
Arrange the following items in ascending order of the Sections of Income Tax Act related to Deductions from Gross Total Income:
A. Deduction in respect of interest on deposits in savings accounts to maximum extent of ₹10,000
B. Deduction for interest paid on loan taken for pursuing higher education
C. Deduction in respect of royalty income of authors of certain books other than text books
D. Deduction in respect of contribution to Agnipath Scheme
E. Deduction in respect of donations to certain funds and charitable institutions
A firm of Chartered Accountants which satisfies all conditions of sections 184 and 40(b) for the Assessment Year 2025-26, has paid remuneration to partners amounting to ₹2,75,000. The book profit of the firm is ₹41,050. The firm can claim deduction for remuneration paid to partners of: