Business And Commerce - Practice Test

(A) Income tax is debited to Profit and Loss Account

(B) While preparing Final Accounts, if goods are in- transit, but their invoice is received, proper entry should be made in books of account

(C) While preparing Final Accounts, if goods are received, but their invoice is not received, no entry should be made in books of account

(D) None of the above

(B) While preparing Final Accounts, if goods are in- transit, but their invoice is received, proper entry should be made in books of account

(A) To facilitate the implementation, administration and operation of trade agreements

(B) To settle differences and disputes among its member countries

(C) To facilitate the expansion and balanced growth of international trade

(D) To carry out periodic reviews of the trade policies of its member countries

(C) To facilitate the expansion and balanced growth of international trade

(A) 1 and 4

(B) 2 and 4

(C) 1 and 2

(D) 3 and 4

(C) 1 and 2

(A) Encourage Competition

(B) Prevent abuse of dominant position

(C) Prevent monopolistic rights arising out intellectual property

(D) Regulate mergers and acquisitions

(C) Prevent monopolistic rights arising out intellectual property

(A) 2000

(B) 2001

(C) 2003

(D) None of these

(D) None of these

Business And Commerce - Study Mode