MCQOPTIONS
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MCQOPTIONS
This section includes 143 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Commerce (B Com) knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
The commission earned by insurance companies from others for giving them business under re insurance is called |
| A. | Commission on re insurance ceded |
| B. | Commission on re insurance accepted |
| C. | Agents commission |
| D. | None of these |
| Answer» B. Commission on re insurance accepted | |
| 102. |
In life insurance investments are come under the schedule . |
| A. | Schedule 7 |
| B. | Schedule 8 |
| C. | Schedule XI |
| D. | Schedule IX |
| Answer» C. Schedule XI | |
| 103. |
No profit and loss appropriation account is prepared in case of a company. |
| A. | Co operative society |
| B. | Partnership |
| C. | Banking company |
| D. | None of these |
| Answer» D. None of these | |
| 104. |
Banks shown provision for income tax under the head . |
| A. | Other liabilitie |
| B. | Contingent liabilities |
| C. | Other liabilities and provisions |
| D. | None of these |
| Answer» B. Contingent liabilities | |
| 105. |
Banks are required to prepare final accounts for each .. year |
| A. | Financial |
| B. | Calendar |
| C. | Previous |
| D. | None of these |
| Answer» B. Calendar | |
| 106. |
A demand loan is payable on .. |
| A. | Demand |
| B. | At any time |
| C. | after one yea |
| D. | after six months |
| Answer» B. At any time | |
| 107. |
is the amount payable to the insured on the happening of event. |
| A. | premium |
| B. | Annuity |
| C. | Claim |
| D. | Policy |
| Answer» D. Policy | |
| 108. |
A banking company required to prepare its profit & loss account according to of the III schedule of the Banking Regulations Act. |
| A. | Form A |
| B. | Form B |
| C. | Form C |
| D. | Form D |
| Answer» C. Form C | |
| 109. |
Rebate on bills discounted is shown on the liability side of the . |
| A. | Profit & loss a/c |
| B. | Income statement |
| C. | Balance sheet |
| D. | None of these |
| Answer» D. None of these | |
| 110. |
Revenue reserve means any reserve other than . Reserve |
| A. | General |
| B. | Capital |
| C. | Other reserve |
| D. | None of these |
| Answer» C. Other reserve | |
| 111. |
A . Company required to prepare its balance sheet according To form A in the III schedule of the Banking Regulation Act |
| A. | Insurance company |
| B. | Joint stock company |
| C. | Banking companies |
| D. | None of the above |
| Answer» D. None of the above | |
| 112. |
Section 5(1) b of Banking Regulations Act , 1949 deals with |
| A. | Banking |
| B. | Insurance |
| C. | Bills |
| D. | Dividend |
| Answer» B. Insurance | |
| 113. |
A banking company required to prepare its . According to Form B in the III schedule of the Banking Regulations Act |
| A. | Balance sheet |
| B. | Profit & loss appropriations account |
| C. | Profit & loss account |
| D. | Position statement |
| Answer» D. Position statement | |
| 114. |
A banking company prepares its .. according to Form A Of the Banking Regulations Act |
| A. | Fund flow statement |
| B. | Cash flow method |
| C. | Balance sheet |
| D. | Income statement |
| Answer» D. Income statement | |
| 115. |
A banking company required to prepare final accounts according to schedule of the Banking Regulation Act |
| A. | III |
| B. | IV |
| C. | V |
| D. | VI |
| Answer» B. IV | |
| 116. |
Depreciation on bank property , directors fees , and auditors fees are examples of schedule .. |
| A. | 13 |
| B. | 14 |
| C. | 15 |
| D. | 16 |
| Answer» E. | |
| 117. |
Assets which does not carry more than normal risk attach to business and no provision in required to be made against such assets are called |
| A. | standard asset |
| B. | substandard asset |
| C. | Fixed asset |
| D. | current asset |
| Answer» B. substandard asset | |
| 118. |
Banking Regulations Act 1949 Section 17 deals with |
| A. | General Reserve |
| B. | Reserve fund |
| C. | capital reserve |
| D. | Statutory reserve |
| Answer» E. | |
| 119. |
The claim lodged by the business to .. on happening the event is known as insurance claim |
| A. | Banking company |
| B. | Joint stock company |
| C. | Insurance company |
| D. | None of these |
| Answer» D. None of these | |
| 120. |
The account prepared to find out the stock as on the date of fire is known as trading accounts. |
| A. | statement |
| B. | memorandum |
| C. | consolidated |
| D. | joint |
| Answer» C. consolidated | |
| 121. |
The clause through which the insurance claim due to loss of stock is reduced to the proportion that the policy value is .. |
| A. | Total clause |
| B. | minimum clause |
| C. | maximum clause |
| D. | Average clause |
| Answer» E. | |
| 122. |
It is .. to ascertain the value of stock as on the date of fire |
| A. | very easy |
| B. | not very easy |
| C. | very difficult |
| D. | not very difficult |
| Answer» D. not very difficult | |
| 123. |
.. is prepared to find out the stock as on the date of fire |
| A. | Trading account |
| B. | Profit and loss account |
| C. | manufacturing account |
| D. | memorandum trading account |
| Answer» E. | |
| 124. |
Insurance business in India is regulated by .. |
| A. | LIC |
| B. | IRDA |
| C. | RBI |
| D. | SEBI |
| Answer» C. RBI | |
| 125. |
Rebate on bills discounted is . |
| A. | Income |
| B. | Income received in advance |
| C. | Asset |
| D. | income accrued |
| Answer» C. Asset | |
| 126. |
Rebate on bill discounted is a of the Banking company. |
| A. | Liability |
| B. | Assets |
| C. | Expense |
| D. | Income |
| Answer» B. Assets | |
| 127. |
Banking business in India is largely governed by the Banking Regulation Act .. |
| A. | 1932 |
| B. | 1956 |
| C. | 1949 |
| D. | 1938 |
| Answer» D. 1938 | |
| 128. |
Banking business in India is governed by the .. Act. |
| A. | Partnership |
| B. | Company |
| C. | Insurance |
| D. | Banking regulations |
| Answer» E. | |
| 129. |
Banks are required to transfer . Of their profit to a statutory reserve |
| A. | 25% |
| B. | 20% |
| C. | 15% |
| D. | 10% |
| Answer» B. 20% | |
| 130. |
A . Company should transfer 25% of its profit to a statutory Reserve |
| A. | Joint stock company |
| B. | Insurance company |
| C. | pvt ltd company |
| D. | Banking company |
| Answer» E. | |
| 131. |
A banking company should transfer 25% of its profit to a . |
| A. | General Reserve |
| B. | Capital Reserve |
| C. | Statutory Reserve |
| D. | Reserve fund |
| Answer» D. Reserve fund | |
| 132. |
in India is largely governed by the Banking Regulation Act 1949 . |
| A. | Insurance busines |
| B. | Banking business |
| C. | Joint stock company |
| D. | Co-operative society |
| Answer» C. Joint stock company | |
| 133. |
Money at call and short notice is an of the banking company. |
| A. | Liability |
| B. | Asset |
| C. | Income |
| D. | Expense |
| Answer» C. Income | |
| 134. |
. Is an arrangement between two insurance companies whereby one transfers a part of risk to other . |
| A. | Re insurance |
| B. | Sub insurance |
| C. | Shared policy |
| D. | None of these |
| Answer» B. Sub insurance | |
| 135. |
. Is the difference between standard sales and actual sales of dislocated period |
| A. | short sale |
| B. | Total sales |
| C. | gross sales |
| D. | Net sales |
| Answer» B. Total sales | |
| 136. |
The turnover during that period in the twelve month immediately before the date of damage which corresponds with the indemnity period is called . |
| A. | Annual turnover |
| B. | standard turnover |
| C. | total turnover |
| D. | Net turnover |
| Answer» C. total turnover | |
| 137. |
The . Is less than the value of stock it is called under insurance? |
| A. | Endowment policy |
| B. | Life policy |
| C. | Accident policy |
| D. | Insurance policy |
| Answer» E. | |
| 138. |
Consequential loss policy is also known as . |
| A. | Loss of cost policy |
| B. | loss of profit policy |
| C. | loss of Operation cost policy |
| D. | loss of operating expenses policy |
| Answer» C. loss of Operation cost policy | |
| 139. |
The profit and loss amount of general insurance companies are prepared in .. |
| A. | Form A-PL |
| B. | Form B RA |
| C. | Form B PL |
| D. | Form B BS |
| Answer» D. Form B BS | |
| 140. |
On dissolution, all assets excepting cash are transferred to the ---------- side of realization account |
| A. | Debit |
| B. | Credit |
| C. | Both |
| D. | None of these |
| Answer» B. Credit | |
| 141. |
On dissolution of firm -------- are paid first |
| A. | Investors |
| B. | Owners |
| C. | Creditors |
| D. | Banks |
| Answer» D. Banks | |
| 142. |
Loss of realization is borne by the partners in their ------ ratio |
| A. | Capital |
| B. | Sacrificing |
| C. | Profit sharing |
| D. | None of these |
| Answer» D. None of these | |
| 143. |
General insurance includes .. |
| A. | Fire insurance |
| B. | Marine insurance |
| C. | Burglary insurance |
| D. | All of these |
| Answer» E. | |