Business and Commerce MCQs

Question 1

Line and staff organization is the extension of-

Accepted Answer

Line organization

Answer

Functional organization

Answer

Informal organization

Answer

Committee organization

Question 2

Foreign exchange for import of goods is sanctioned by:

Accepted Answer

Reserve Bank of India

Answer

Exim Bank

Answer

State Bank

Answer

Ministry of Commerce

Question 3

Which one of the following is the most democratic form of organisation?

Accepted Answer

Committee

Answer

Line

Answer

Line and staff

Answer

Functional

Question 4

The oldest form of business organization is-

Accepted Answer

Sole proprietor

Answer

Partnership

Answer

Company

Answer

Cooperative undertakings

Question 5

In the co-operative organisation, the voting rights of members are

Accepted Answer

in proportion to the total finance supplied including the amount of loan by each member

Answer

in proportion to the capital paid by each member

Answer

equal, irrespective of the amount of capital contribution by members

Answer

in proportion to the nominal value of capital held by each member

Question 6

The main advantage of decentralised organisation is:

Accepted Answer

Top management can manage by 'exception'

Answer

Top executive extends his control area

Answer

Co-ordination of activities becomes automatic

Answer

Operation costs are lower

Question 7

Maximum number of partners in a firm for non-banking business is:

Accepted Answer

20

Answer

7

Answer

10

Answer

15

Question 8

The form of business organization for which no specific act has been made is

Accepted Answer

Sole trade business

Answer

Partnership

Answer

Company

Answer

Cooperative society

Question 9

Who owns the public sector undertakings

Accepted Answer

Government

Answer

Personal

Answer

Cooperatives

Answer

Joint