Business and Commerce MCQs

Question 1

Sole proprietorship is not suitable for those businesses

Accepted Answer

Which are very large in size

Answer

Where less capital is required

Answer

Where the degree of risk is not high

Answer

Which requires personal attention to the customers

Question 2

Which one of the following characteristics best describes the biological or behavioural structure of an organization?

Accepted Answer

Extensive control expansion

Answer

More centralization

Answer

Higher level specialization

Answer

Vertical position step

Question 3

Business includes

Accepted Answer

all the trade, industry and commerce

Answer

only trade

Answer

trade and industry both

Answer

only commerce

Question 4

In which of the following years, the Bretton Woods Agreement was signed by the delegates from 44 nations which led to the establishment of the IMF?

Accepted Answer

1944

Answer

1940

Answer

1952

Answer

1957

Question 5

An Informal Organization are

Accepted Answer

elastic/flexible

Answer

created by top management

Answer

displayed in the organizational chart

Answer

Harmful in the achievement of goal of the organization

Question 6

Which is not a characteristic of a private company?

Accepted Answer

The liability of the member is unlimited

Answer

Independent legal entity

Answer

No need to file return sheet with the registrar

Answer

Shares are not transferred voluntarily

Question 7

The first industrial policy of independent India was announced in . . . . . . . .

Accepted Answer

1948

Answer

1957

Answer

2004

Answer

1947

Question 8

As per section 44 of the Competition Law, what is the penalty for making false statements or omission to furnish material information by any party?

Accepted Answer

Minimum penalty of Rs. 50 lakhs and Maximum up to Rs. 1 crore

Answer

Minimum penalty of Rs. 25 lakhs and Maximum up to Rs. 1 crore

Answer

Minimum penalty of Rs. 10 lakhs and Maximum up to Rs. 50 lakhs

Answer

Minimum penalty of Rs. 5 lakhs and Maximum up to Rs. 50 lakhs

Question 9

Which one is not the objective of Public Sector in India:

Accepted Answer

To give greater economic power to the state

Answer

To remove regional imbalances

Answer

To provide a base for industrialisation

Answer

To provide public service