List of top Commerce Questions asked in Common University Entrance Test

All are examples of assigned revenue except:

Financial year in India ends on:

A matrix with a single column and multiple rows is defined as what?

Any general meeting held between two annual general meetings will be called:

Out of the following statements, which one is incorrect as regards the Director Identification Number (DIN)?

Which of the following statement is true for Securities Transaction Tax (STT)?

Match List I with List II:

List I	List II
A. Actual Estimates	I. Estimates of the coming financial year.
B. Financial Estimates financial year.	II. Estimates of revenue and expenditure of the current financial year.
C. Budget Estimates financial year.	III. Estimates of expenditure and receipts of the preceding financial year.
D. Revised Estimates economic events.	IV. Estimates made before the actual occurrence of economic events.

A company can remove a director before the expiry of the period of his office by passing:

Where the title in shares of a company is in dispute, the matter has to be resolved by:

Under the Income Tax Act, 1961, a Hindu Undivided Family (HUF) consists of the following except:

Which among the following is a demerit of direct tax?

According to the Income Tax Act, 1961, an Assessee in default is a person who:

Clerical errors in the book of accounts are classified as:

If internal control is effective, the auditor may confine his work to a representative number of transactions and avoid detailed verification.

Long-term capital gain is not exempted in which of the following cases?

The provisions concerning the company auditor are contained in sections 224 to 233B of the Companies Act. Match List-I (Section) with List-II (Dealing with matters):

List-I: Sections	List-II: Matters
(A) Sec. 227	(I) Right of auditor to attend general meetings
(B) Sec. 226	(II) Reading and inspection of auditor’s report
(C) Sec. 231	(III) Qualifications and disqualifications of auditors
(D) Sec. 230	(IV) Powers and duties of auditors

Which of the following are the duties of an auditor?
(A) To measure business events in terms of profit and loss and communicate the financial conditions of the business
(B) To prepare a balance sheet representing a true and fair picture of the financial position of the business
(C) To prepare final accounts, computation of taxable income, etc., while acting as an accountant
(D) To report whether the profit and loss account represents a true and fair picture of the profit or loss

Following are the statements highlighting the socio-economic indicators of India's population. Identify the correct statements:
(A) India has one of the lowest life expectancy (69.4 years).
(B) Since the 1990s, Indian economic growth is mainly based on manufacturing and services sector.
(C) Reproductive health, measured by the maternal mortality ratio and adolescent birth rates.
(D) Labour market participation, measured by the labour force participation rate of female and male populations aged 18 years and older.
Choose the correct answer from the options given below

Indian Trade Classification (National Harmonized System of Goods) ITC (HS) Code is having how many digits?

This scheme provides a refund of import duty on raw materials, components, and packing materials used in the export product, reducing the input cost of exports.

Which authority acts as a facilitator of exports and imports in India?

Apart from Gross Domestic Product (GDP), Gross National Income (GNI), and Net National Income (NNI), the other important indicators to measure the health of an economy are:

Cyclical variations in time series:

Which among the following is an activity offered by SIDBI under promotional and developmental support or through ”Credit Plus” approach?

Which of the following is/are true for the secondary market?
(A) Facilitates liquidity and marketability of securities
(B) Provides valuation of securities
(C) Enables price discovery
(D) Creates a wealth effect
Choose the correct answer from the options given below :