Business and Commerce MCQs

Question 1

Which of the following documents is considered to be a contract between the shipping company and the shipper:

Accepted Answer

Charter party

Answer

Shipping bill

Answer

Bill of Lading

Answer

Shipping order

Question 2

A public company can issue:

Accepted Answer

Equity and preference shares

Answer

Ordinary, preference and deferred shares

Answer

Ordinary and promoter's shares

Answer

Equity shares and bearer debentures

Question 3

Line and staff organization is most suitable for:

Accepted Answer

Large size enterprises

Answer

Small enterprises

Answer

Middle class undertaking

Answer

Cottage undertaking

Question 4

When custom duty is levied according to the weight of the goods, it is called

Accepted Answer

Specific duty

Answer

Revenue duty

Answer

Excise duty

Answer

Ad valorem duty

Question 5

The general pattern of behaviour, shared belief and values that members have in common is known as

Accepted Answer

Organisation culture

Answer

Organisation climate

Answer

Organisation effectiveness

Answer

Organisation matrix

Question 6

Registration of Partnership is:

Accepted Answer

Optional

Answer

Compulsory under Partnership Act

Answer

Compulsory under companies Act

Answer

None of the above

Question 7

Social responsibility is undertaken by a business organisation because-

Accepted Answer

it derives all its resources from the society

Answer

it is a legal formality

Answer

it satisfies top management

Answer

it gives more power to the organisation to influence the Government

Question 8

The advantage of Committee organisation is:

Accepted Answer

Greater participation

Answer

Quick decision

Answer

Centralisation of authority

Answer

Divided responsibility

Question 9

A company is an artificial person created by law having a separate entity with a perpetual succession and a common seal.' Who said, this statement?

Accepted Answer

Haney

Answer

Lord Lindley

Answer

Lord Keynes

Answer

Justice James