Business and Commerce MCQs

Question 1

"T Group Training" is also known as

Accepted Answer

Sensitivity Training

Answer

Role Playing Training

Answer

Position Rotation Training

Answer

Committee Assignment

Question 2

A Public corporation is set up:

Accepted Answer

by a special Act of Parliament

Answer

by a special order of the Government

Answer

under Companies Act, 1956

Answer

by none of the above

Question 3

The meaning of Vastro account is

Accepted Answer

Accounts maintained in India by foreign bank in Indian rupees

Answer

Foreign account maintained by Indian book in dollars

Answer

Foreign exchange held in India in foreign currency account

Answer

Account maintained by an Indian bank in abroad in Indian rupees

Question 4

What is the policy called in international trade, under which we import from the same country which imports from us in return

Accepted Answer

Bilateral trade

Answer

Multilateral import

Answer

Counter trade

Answer

None of these

Question 5

The liability of a partnership in respect of the debts of the firm is limited to

Accepted Answer

Upto the amount of his own capital and personal assets in the firm

Answer

Upto the amount of his capital in the firm

Answer

His capital in the firm and the amount of loans given to the firm

Answer

Upto the amount assured to cover the losses

Question 6

The scope and liability of a sole trade are respectively

Accepted Answer

Limited and unlimited

Answer

Unlimited and limited

Answer

Limited and limited

Answer

Unlimited and unlimited

Question 7

A partner, who does not take active part in the conduct of the partnership business, is known as

Accepted Answer

nominal partner

Answer

silent partner

Answer

sleeping partner

Answer

sub-partner

Question 8

In computation of balance of payments, overall balance of payments

Accepted Answer

Balance of current account + Balance of capital account + Statistical discrepancy

Answer

Export of goods and invisibles - Import of goods

Answer

Foreign exchange inflow - Foreign exchange outflow

Answer

Export of goods and invisibles + Import of goods and invisibles

Question 9

Shipping Order is issued by the

Accepted Answer

Shipping company

Answer

Customs authorities

Answer

Exporter

Answer

Reserve Bank of India