Are You Ready for Commerce Quiz??????

1. Which document shows the relationship of internal management?

2. What does ‘OTCEI’ stand for?

3. In which year Indian Partnership Act was passed?

4. Which bank is the apex bank for agriculture credits?

5. Under which market condition, firms make normal profits in the long run?

6. The Green Revolution is also known as………

7. Which accounting standard talks about cash flow statement?

8. Amount spent on an advertisement campaign is which type of expenditure?

9. In inflation, which inventory method is suitable for accountant?

10. A minimum quantity of stock always held as precaution against out of stock situation is
called…………..

11. In a public limited company, the minimum number of directors are…….

12. Who classified the psychological needs of man?

13. As per Income Tax Act, 1961, Sec 16(iii) is……….

14. Window Dressing is prohibited by which convention?

15. Which document is known as company’s charter?

[Ans. 1. Articles of Association, 2. Over the Counter Exchange of India, 3. 1932, 4. NABARD,
5. Perfect Competition, 6. Wheat Revolution, 7. As-3, 8. Deferred Revenue Expenditure, 9.
LIFO, 10. Base Stock, 11. 3, 12. Abraham Maslow, 13. Professional Tax, 14. Full Disclosure,
15. Memorandum of Association.

Kajal Gupta, M.Com (Final)