Business and Commerce MCQs

A contract of partnership, in order to be valid:

A letter of credit means:

Match List-I with List-II and select the correct answer: List-I (Type of organisation) List-II (Important features) a. Sole trader 1. Large number of risk takers b. Partnership 2. Betterment off weaker sections c. Co-operatives 3. Contractual relationship d. Public Limited Company 4. Unlimited liability

Consider the following statements: Assertion (A): Corporate planning deals with the futurity of present decisions in terms of setting goals, developing strategies to achieve them, translating strategies into detailed operational programmes and assuring that plans are carried out. Reason (R): Corporate planning is essential in large organisations to develop a unified framework in planning and decision making. Now select your answer

The structure of an organisation in which there is separation of ownership and management is called

List out from the given statements the important ethical principles that a business should follow: 1. To take the necessary action for the development of the concerned industry or business. 2. Pay taxes and discharge other obligations promptly. 3. To ensure the best utilisation of the human resources. 4. Refrain from secret kickbacks or pay-offs to customers, suppliers, administrators, etc. 5. Ensure payment of fair wages and fair treatment of employees. Choose the correct answer from the options given below:

Which of the following is not a non-tariff barrier?

Maximum Discipline is

In case of a private company: