PGT Commerce Level-3 (HTEТ), Exam 2016Total Questions: 150141. Рrерaid Insurance Premium is shown as:A. An assetB. An expenseC. A liabilityD. No adjustment is requiredCorrect Answer: A. An asset142. What does change in economic growth?A. Structure of economyB. Mindsets of peopleC. National IncomeD. All options are wrongCorrect Answer: C. National Income143. Which is the part of external environment?A. EmployeesB. Company policiesC. DemographyD. Management structureCorrect Answer: C. Demography144. Prepaid expense is:A. ExpenseB. IncomeC. AssetD. LiabilityCorrect Answer: D. Liability145. A complaint can be made to District Forum when the values of goods and services in question, along with the compensation claimed does not exceed:A. ₹ 5,00,000B. ₹ 10,00,000C. ₹ 20,00,000D. ₹ 25,00,000Correct Answer: C. ₹ 20,00,000146. In India, which of the following is prepared on the guideline of AS-3 (Accounting Standards-3)?A. Balance Sheet of a CompanyB. Funds Flow StatementC. Cash Flow StatementD. Consolidated Financial StatementCorrect Answer: C. Cash Flow Statement147. Which of the following is correct?A. Operating profit = net profit − non operating expenses − non operating incomesB. Operating profit = net profit + non operating expenses + non operating incomesC. Operating profit = net profit + non operating expenses − non operating incomesD. Operating profit = net profit − non operating expenses + non operating incomesCorrect Answer: C. Operating profit = net profit + non operating expenses − non operating incomes148. In a Cooperative Society the principle followed is:A. One share one voteB. No voteC. One man one voteD. Multiple votesCorrect Answer: C. One man one vote149. Which one of is not a barrier of Communication?A. Technology barriersB. Cultural barriersC. Linguistic barriersD. Colour discriminationCorrect Answer: D. Colour discrimination150. At the time of retirement of a partner, if goodwill appears in the balance sheet, it should be written off. For this capital account of all partners are:A. Debited by the new profit sharing ratioB. Debited by the equal ratioC. Credited by the new profit sharing ratioD. Debited by the old profit sharing ratioCorrect Answer: D. Debited by the old profit sharing ratioSubmit Quiz« Previous123456789101112131415
