Business and Commerce MCQs

Question 1

In which year was the Consumer Protection Act enacted?

Accepted Answer

1986

Answer

1975

Answer

1979

Answer

1982

Question 2

Unity of command is violated under:

Accepted Answer

Functional organisation

Answer

Line organisation

Answer

Line and staff organisation

Answer

None of the above

Question 3

Which of the following is an extraction industry:

Accepted Answer

Iron and ore

Answer

Animal Husbandry

Answer

Planting

Answer

Hunting

Question 4

Which one of the following is not the feature of sole proprietorship?

Accepted Answer

Limited liability

Answer

Sole ownership

Answer

Easy establishment

Answer

Easy dissolution

Question 5

Which of the following is a most democratic in nature

Accepted Answer

Committee organisation

Answer

Line organisation

Answer

Line and Staff organisation

Answer

Functional organisation

Question 6

Full form of FIPB is Foreign Investment . . . . . . . . Board.

Accepted Answer

Promotion

Answer

Packing

Answer

Public

Answer

Private

Question 7

The importer cannot take delivery of goods unless he produces the

Accepted Answer

Bill of lading

Answer

Bill of sight

Answer

Shipping bill

Answer

Mate's receipt

Question 8

In case of a sole trading business, which of the following statements is correct:

Accepted Answer

While preparing Final Accounts, if goods are in- transit, but their invoice is received, proper entry should be made in books of account

Answer

Income tax is debited to Profit and Loss Account

Answer

While preparing Final Accounts, if goods are received, but their invoice is not received, no entry should be made in books of account

Answer

None of the above

Question 9

Which one of the following is not the basic function of WTO?

Accepted Answer

To facilitate the expansion and balanced growth of international trade

Answer

To facilitate the implementation, administration and operation of trade agreements

Answer

To settle differences and disputes among its member countries

Answer

To carry out periodic reviews of the trade policies of its member countries