Business and Commerce MCQs

Question 1

If a partnership firm is not registered, it cannot:

Accepted Answer

claim against third party

Answer

carry on business

Answer

earn profit

Answer

assume firm's name

Question 2

Foreign bank draft is used

Accepted Answer

Foreign trade

Answer

Domestic trade

Answer

Local trade

Answer

All of the above

Question 3

Section 2 (62) of the Companies Act, 2013 is related to

Accepted Answer

'One person' Company

Answer

Objects clause

Answer

Name clause

Answer

Capital clause

Question 4

Who among the following has given Absolute Advantage Model of international trade?

Accepted Answer

Adam Smith

Answer

David Recardo

Answer

Hackscher Ohlin

Answer

William Petty

Question 5

Given below are two statements. One is labelled Assertion (A) and the other is labelled as Reason (R). Assertion (A): Self help by mutual help is feature of cooperation. Reason (R): The ultimate aim of cooperation is the production of fine human being and not the production of rich goods. In the light of the above statement s choose the correct answer from the option given below

Accepted Answer

Both A and R are true and R is the correct explanation of A

Answer

Both A and R are true but R is not correct explanation of A

Answer

A is true but R is false

Answer

A is false but R is true

Question 6

Which form of business organization is best from the point of view of secrecy.

Accepted Answer

Sole proprietorship business

Answer

Company

Answer

Partnership

Answer

Cooperative society

Question 7

The most suitable form of business organization for the weaker section is

Accepted Answer

Cooperative society

Answer

Partnership firm

Answer

Sole proprietorship

Answer

Joint capital company

Question 8

The ideology which is inappropriate for the higher position of the organization. These are-

Accepted Answer

Neo-traditional ideology

Answer

Traditional ideology

Answer

Modern ideology

Answer

None of these

Question 9

A Government company is a company:

Accepted Answer

Where a minimum of 51% of the paid up capital is owned by the government

Answer

Where a minimum of 50% of the authorised capital is owned by the government

Answer

Where a minimum of 50% of the issued capital is owned by the government

Answer

Where 100% paid up capital is owned by the government