online accounting degree entrance exam preparation India

online accounting degree entrance exam preparation India

online accounting degree exam practice test

online bachelors degrees exam objective questions

So if you appearing for entrance exam for accounting degree,these are commerce questions to help you prepare online
Free online commerce test for Accounting degree entrance exams

1. The income from that house property is taxable under the head. Income from House property.

(A) The assessee has ownership on that

(B) The assessee uses that house for his business

(C) The assessee himself lives in that house

(D) The assessee has let out that house on rent for residence

Ans. (A)

2. Following is the deduction in respect of repair  under the head of income from house property—

(A) 25 % of Annual Value

(B) 30 % of Net Annual Value

(C) 1/5 of Annual Value

(D) 1/5 of Net Annual Value

Ans. (B)

3. Single entry system can not be maintained by—

(A) Sole proprietorship

(B) Partnership concerns

(C) Joint stock company

(D) All of these

Ans. (D)

4. Cash account will not be affected by—

(A) Cash paid to creditors

(B) Discount received

(C) Cash sales

(D) Cash received from debtors

Ans. (B)

5. Tax audit is compulsory in case of a person carrying on business whose gross receipt) turnover/sales and exceeds—

(A) Rs. 50 lakhs

(B) Rs. 40 lakhs

(C) Rs. l0 lakhs

(D) Rs. 25 lakhs

Ans. (B)

6. Current Ratio of a firm is 3:1 and working capital is Rs. 60000. What will be the amount of current Assets—

(A) Rs. 30000

(B) Rs90000

(C) Rs. 120000

(D) Rs. 180000

Ans. (B)

7. Mr. Rastogi of Meerut was declared insolvent. One of his liabilities related to one months rent due to his landlord. This liability will be treated as—

(A) Preferential Creditor

(B) Partly Secured Creditor

(C) Fully Secured Creditor

(D) Unsecured Creditor

Ans. (A)

8. When two or more companies liquidate to form a new company. It is called—

(A) Amalgamation

(B) Absorption

(C) Reconstruction

(D) Purchase of Business

Ans. (A)

9. A, B and C are partners in a firm. If D is to be admitted to the firm as a new partner—

(A) Old firm has to be dissolved

(B) Old partnership has to be dissolved

(C) Both the old firm and the old partnership have to be dissolved

(D) No need to dissolve either firm or the partnership

Ans. (D)

10. Remington sold one typewriter to Ramesh Chandra under installment purchase system on 1, January 1996, payment for which was to be made as under—

On 01.01.1996 -

On 31.12.1996 -

On 31.12.1997 -

On 31.12.1998 -

On 31.12.1999 -

Interest at 10% p.a. is included in each installment. The total interest charged amount

to-

(A) Rs.2100

(C) Rs. 1800

(B) Rs. 1950

(D) Rs. 1700

Ans. (B)

12. The liquidator of a company is entit1edio a remuneration of 2% on assets realized, and 3% on the amount distributed to unsecured creditors. The assets realized Rs. 100000 including cash balance of Rs. 3000. Amount available for distribution to unsecured creditors before paying liquidators remui4eration was Rs. 46350 liquidator’s remuneration will be—

(A) Rs.3100

(C) Rs. 3290

(B) Rs.3140

(D) Rs. 3350

Ans. (C)

13. EXIM Bank was established on—

(A) 1st Dec 1984

(B) 1st June 1985

(C) 1st Jan 1982

(D) 1st July 1980

Ans. (C)

14. For capital gain being long term capital gain, an assessee should retain the assets for a period of—

(A) 40 months

(B) 36 months

(C) More than 36 months

(D) Less than 36 months

Ans. (C)

15. The salary received by a member of parliament is—

(A) Exempt from Tax

(B) Taxable under the head of salary

(C) Taxable under the head of other sources

(D) Taxable under the lead of business

Ans. (C)

16. For the purpose of income tax it is necessary for agriculture income that—

(A) Land should be used for agricultural activities

(B) Land should be used for godown

(C) Land should be used for irrigation

(D) None of above

Ans. (A)

17. Depreciation is allowed on—

(A) Tangible Assets

(B) Current Assets

(C) Fixed Assets

(D) Intangible Assets

Ans. (C)

18. When shares are forfeited, the share capital account is debited by—

(A) Nominal value of forfeited shares

(B)Paid up amount of forfeited shares

(C) Called up amount on forfeited shares

(D) Forfeited amount of shares

Ans. (C)

19. The term ‘POIM’ for the four functions of management. Planning, organisation, integration and measuring was given by.—

(A) F.W. Taylor

(B) Harold Smiddy

(C) Tanon Brown

(D) Peter F. Drucker

Ans. (B)

20. The statutory meeting of a company is convened—

(A) Once in a year

(B) Once in the life time of the company

(C) Once in six months

(D) Once in three months

Ans. (B)

21. Secret reserves may be created by—

(A) Under-valuation of liabilities only

(B) Under-valuation of assets only

(C) Over-valuation of assets only

(D) Over-valuation of liabilities and under-valuation of assets

Ans. (D)

22. The current ratio of a firm is 2: 1. If it pays Rs. 5000 to it creditors, it will—

(A) Increase the current ratio

(B) Decrease the current ratio

(C) Increase working capital

(D) Neither increase nor decrease

Ans. (D)

3. e-commerce means—

(A) Economics Commerce

(B) Electronic Commerce

(C) Engineering Commerce

(D) Electrified Commerce

Ans. (B)

24. Which of the following is not a media of oral communication ?

(A) T.V. Transmission

(B) Interview

(C) Questionnaire

(D) None of above

Ans. (D)

25. Trade-tax is levied upon—

(A) Import of goods

(B) Export of goods

(C) Sale of goods

(D) Income of trader

Ans. (C)

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Common Law Admission test CLAT 2009 legal Aptitude Solved paper

Common Law Admission test CLAT 2009 legal Aptitude  Solved paper

memory based

1. Which is the oldest Code of Law in India?
(A)    Naradasmriti
(B)    Manusmriti
(C)    Vedasmriti
(D)    Prasarsmriti

2. Private international law is also called?
(A) Civil law
(B) Locallaws
(C) Conflict of laws
(D) Common law

3. A nominal sum given as a token for striking a sale is called?
(A) Earnest money
(B) Advance
(C) Interest
(D) Solatium

4. Joint heirs to a property are called?
(A) Co-heirs
(B) Coparceners
(C) Successors
(D) Joint owners

5. The right of a party to initiate an action and be heard before a Court of law is called?
(A) Right in rem
(B) Eight in personam
(C) Fundamental right
(D) Locus standi

6. Indian Parliament is based on the principle of?
(A) Bicameralism
(B) Universal Adult Franchise
(C) Dyarchy
(D) Federalism

7. The Supreme Court held that evidence can be recorded by vid in the case?
(A) State of Maharashtra Vs. Prafull B. Besai
(B) Paramjet kaur  Vs. State of Punjab
(C) Pappu Yadav Vs. State of Bihar
(D) Bachan Singh Vs. State of Punjab

8. When the master is held liable for the wrongful act of servant, the liability is called?
(A) Strict liability
(B) Vicarious liability
(C) Tortous liability
(D) Absolute liability

9. The act of unlawfully entering into another’s property constitutes?
(A) Trespass
(B) Restraint
(C) Appropriation
(D) Encroachment

10. Which Parliamentary Committee in Indian system of democracy is chaired by a member
Opposition Party?
(A) Estimates Committee
(B) Joint Parliamentary Com mittee
(C) Public Accounts Committee
(D) Finance Committee

11. Supreme Court held that Preamble as a basic feature of Con stitution cannot be amended
the case of?
(A) Golaknath Vs. State of Punjab
(B) Maneka Gandhi Vs. Union of India
(C) S. R. Bommai Vs. Union of India
(D) Kesavananda Bharati Vs.state of Kerala

12. In the year 2002 the Competition Act was enacted replacing?
(A) Trade Marks Act
(B) Copy Right Act
(C) Contract Act
(D) MRTP Act

13. A right to recover time barred debt is?
(A) Universal right
(B) Perfect right
(C) Imperfect right
(D) Fundamental right

14. The law relating to prisoners war has been codified by?
(A) Geneva Convention
(B) Vienna Convention
(C) Paris Convention
(D) None of the above

15. Public holidays are declared under?
(A) Criminal Procedure Code
(B) Civil Procedure Code
(C) Representation of the People Act
(D) Negotiable Instruments Act

16. When a person is prosecuted for committing a criminal offence, the burden of proof is on?
(A) Accused
(B) Prosecution
(C) Police
(D) Complainant

17. Offence which can be compromised between the parties is known as?
(A) Non-compoundable Offence
(B) Congnizable Offence
(C) Compoundable Offence
(D) Non-cognizable Offence

18. Husband and wife have a right to each others company. The right is called?

(A) Conjugal right
(B) Human right
(C) Civil right
(D) Fundamental right

19. A person ‘dying intestate’means he?
(A) Died without Legal Heirs
(B) Died without Making a Will
(C) Died without any Property
(D) Died without a Son

20. If a witness makes a statement in Court, knowing it to be false, he commits the offence of?
(A) Forgery
(B) Falsehood
(C) Perjury
(D) Breath of trust

21. A child born after father’s death is?
(A) Posthumous
(B) Heir
(C) Intestate
(D) Illegal

22. A formal instrument by which one person empowers another to represent him is known as?
(A) Affidavit
(B) Power of Attorney
(C) Will
(D) Declaration

23. The temporary release of prisoner is called?
(A) Parole
(B) Amnesty
(C) Discharge
(D) Pardon

24. The offence of inciting disaffection, hatred or contempt against Government is?
(A) Perjury
(B) Forgery
(C) Sedition
(D) Revolt

25. India became the member United Nations in the Year?
(A)1956
(B) 1945
(C)1946
(D) 1950

26. A party to the suit is called?
(A) Accused
(B) Plaintiff
(C) Litigant
(D) Complainant

27. Who heads the four member Committee appointed to study the Centre-State relations, especially the changes took place since Sarkaria Commission
(A) Justice M. M. Punchi
(B) Justice Nanavati
(C) Justice Barucha
(D) Justice Kuldip Singh

28. No one can be convicted twice for the same offence. This doctrine is called?
(A) Burden of proof
(B) Double conviction
(C) Double jeopardy
(D) Corpus delicti

29. A participant in commission of crime is popularly known as?
(A) Respondent
(B) Under-trial
(C) Defendant
(D) Accomplice

30. Which of the following is not payable to Central Government?
(A) Land revenue
(B) Customs duty
(C) Income tax
(D) Wealth tax

31. Where is the National Judicial Academy located?
(A)  Kolkata
(B) Bhopal
(C) Delhi
(D) Mumbai

32. Who have constitutional right to audience in all Indian Courts?
(A) President
(B) Chief Justice of India
(C) Attorney General
(D) Solicitor General of India

33.Which of the following is not included in the Preamble to the
Constitution?
(A) Morality
(B) Justice
(C) Sovereign
(D) Socialist

34. ‘Court of Record’ is a Court which?
(A) Maintains records
(B) Preserves all its records
(C) Can punish for its contempt
(D) Is competent to issue writs

35. A judge of the Supreme Court can be removed from office only on grounds of?
(A) Gross inefficiency
(B) Delivering wrong judgments
(C) Senility
(D) Proved misbehaviour or incapacity

36. Fiduciary relationship means a relationship based on?
(A) Trust
(B) Money
(C) Contract
(D) Blood relation

37.The Chairman of Tehelka Enquiry Commission is?
(A) Justice Kripal
(B) Justice S N. Phukan
(C) Justice Saharia
(D) Justice Liberhan

38. The concept of judicial review has been borrowed from the
Constitution of?
(A) U.S.S.R.
(B) U.K.
(C) U.S.A.
(D) Switzerland

39. Every duty enforceable by law is called
(A) Accountability
(B) Obligation
(C) Burden
(D) Incidence

40. The killing of a new born child by its parents is?
(A) Malfeasance
(B) Infanticide
(C) Abortion
(D) Foeticide

41. Offence of breaking a divine idol is?
(A) Saluspopuli
(B) Crime
(C) Sacrilege
(D) Blasphemy

42. A person who goes underground or evades the jurisdiction of the Court is known as?
(A) Offender
(B) Underground
(C) Absentee
(D) Absconder

43. What is a caveat?
(A) A warning
(B) An injunction
(C) Writ
(D) Certiorari

44. Muslim religious foundations are known as?
(A)Din
(B) Wakfs
(C) Ulema
(D) Quzat

45. Beyond what distance from the coast, is the sea known as ‘High Sea’?
(A) 20 Nautical miles
(B) 300 Nautical miles
(C) 200 Nautical kms
(D) 12 Nautical miles

Answers

1	B
2	C
3	B
4	A
5	D
6	A
7	A
8	B
9	A
10	C
11	D
12	D
13	C
14	A
15	C
16	B
17	C
18	A
19	B
20	C
21	A
22	B
23	A
24	C
25	B
26	B
27	A
28	C
29	D
30	A
31	B
32	C
33	A
34	C
35	D
36	A
37	B
38	C
39	B
40	B
41	C
42	D
43	A
44	C
45	D

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