Business and Commerce MCQs

Question 1

'Decision Tree' in a business unit:

Accepted Answer

Improves organisational effectiveness

Answer

Reduces the workload of employees

Answer

Enhances worker's participation in management

Answer

None of the above

Question 2

If a network of interpersonal relationship that arise when people associate with each other is an informal organization, then find out which of the following is not an informal organization?

Accepted Answer

Customer's group

Answer

The "machine shop" group

Answer

The "sixth floor" group

Answer

The "Friday evening bowling" gang

Question 3

'Pisciculture' should be classified as:

Accepted Answer

Genetic industry

Answer

Extractive industry

Answer

Manufacturing industry

Answer

Construction industry

Question 4

Which of the following statements regarding National Commission is NOT true as per the Consumer Protection Act?

Accepted Answer

The commission consists of 8 members out of which minimum 2 members are women

Answer

National Commission has been set up by the Central Government

Answer

The chairman of the commission must be a sitting or retired judge of the Supreme Court

Answer

It hears the appeals or complaints where the value/compensation exceeds Rs. 1 crore

Question 5

Consider the following Statement (A) and Reason (R) Statement (A): Foreign trade strengthen the economic base of any country. Reason (R): Foreign trade is basically done to make BOP favourable : Balance of and for the items which are not available, for delivery in the country. Now select the correct answer from the given cut outs.

Accepted Answer

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

Answer

Both (A) and (R) are true and (R) is not the correct explanation of (A)

Answer

(A) is true, but (R) is false

Answer

(A) is false, but (R) is true

Question 6

Limited partnership organisation is-

Accepted Answer

not common in India

Answer

quite common in India

Answer

not provided by statute in India

Answer

provided in the Company's Act, 1956

Question 7

A business where only male members can become partners is:

Accepted Answer

Joint Hindu family business

Answer

Limited partnership business

Answer

Co-operative form of business

Answer

Export & import form of business

Question 8

In a partnership firm the scope of audit and duties of auditor are determined by:

Accepted Answer

Agreement between partnership firm and auditor

Answer

Partnership Act

Answer

Partnership Deed

Answer

None of the above

Question 9

Which of the following are included in the international liquidity? Indicate the correct option. (i) Foreign exchange reserve (ii) Borrowing capacity of the various countries (iii) Gold reserves Choose the correct answer:

Accepted Answer

(i), (ii) and (iii)

Answer

(i) and (ii)

Answer

(i) and (iii)

Answer

(ii) and (iii)