Business and Commerce MCQs

Question 1

Name the form of business organisation whose manager is known as 'Karta'.

Accepted Answer

Joint Hindu Family

Answer

Public Corporation

Answer

Joint Stock company

Answer

Partnership

Question 2

The exhaustive industry is also known as:

Accepted Answer

Extraction industry

Answer

Genetic industry

Answer

Manufacturing industry

Answer

Secondary industry

Question 3

A Government company is established under:

Accepted Answer

the Companies Act. 1956

Answer

a special Act of Parliament

Answer

a special Act of any State

Answer

special orders of the Court

Question 4

Which one of the following is not the basic principle of cooperation:

Accepted Answer

One share one vote

Answer

One member one vote

Answer

All for one and one for all

Answer

No profit No loss

Question 5

The entire ship is taken on hire, which of the document is issued by the Shipping Company?

Accepted Answer

Charter Party

Answer

Railway Receipt

Answer

Bill of Lading

Answer

Mate's Receipt

Question 6

A small service enterprise is

Accepted Answer

Where the appropriation exceeds Rs. 10 lakh but does not exceed Rs. 2 crore

Answer

Where the appropriation exceeds Rs. 10 lakh but does not exceed Rs. 1 crore

Answer

Where the appropriation is between Rs. 25 lakh to Rs. 1 crore

Answer

Where the appropriation exceeds Rs. 1 crore but does not exceed Rs. 5 crore

Question 7

Staff function are those which . . . . . . . .

Accepted Answer

All are correct

Answer

Do not have direct responsibility for accomplishing the objectives of the organization

Answer

Are secondary in character

Answer

Are of advisory character

Question 8

Commercial risks covered by the Export, Credit and Guarantee Corporation of India do not include the risk caused by

Accepted Answer

war in the buyer's country

Answer

insolvency of the buyer

Answer

buyer's failure to accept the goods

Answer

buyer's protracted default to pay

Question 9

A private company:

Accepted Answer

Can be converted into a public company by A and B both above

Answer

Can be converted into a public company by passing special resolution and changing articles

Answer

Can be converted into a public company by obtaining consent of Central Government

Answer

Cannot be converted into a public company