Business and Commerce MCQs

Question 1

Members of a private company:

Accepted Answer

Can transfer shares within restrictions imposed by articles

Answer

Can transfer shares by obtaining permission of the Government

Answer

Can transfer shares freely

Answer

Cannot transfer shares at all

Question 2

Match List-I with List-II: List-I List-II a. Transfer of ownership 1. Negotiable Instrument b. Sale of goodwill after dissolution 2. Contract of sale of goods c. Buy-back of securities 3. Dissolution of partnership firm d. Promissory Note 4. Share capital of company Choose the correct option from those given below:

Accepted Answer

a-2, b-3, c-4, d-1

Answer

a-3, b-4, c-2, d-1

Answer

a-4, b-2, c-1, d-3

Answer

a-1, b-2, c-3, d-4

Question 3

The minimum and maximum number of partners in a partnership firm is

Accepted Answer

2 and 20

Answer

2 and 7

Answer

2 and 10

Answer

7 and 50

Question 4

A private company does not do

Accepted Answer

Public invitation for purchase of shares

Answer

Restriction of share transfer rights

Answer

Limited number of members

Answer

Appointment of auditor

Question 5

The minimum number of members in a private company is

Accepted Answer

2

Answer

10

Answer

7

Answer

5

Question 6

Which of the following does not apply to a public company

Accepted Answer

It cannot issue share warrant

Answer

It allows transfer of shares to its members

Answer

It can invite the public to buy shares

Answer

Share allotment cannot take place until the subscription is approved or paid

Question 7

A partnership firm is formed

Accepted Answer

By contract

Answer

By registration

Answer

Under circumstances

Answer

Succession by rule

Question 8

The Organisation chart shows:

Accepted Answer

All the above

Answer

The division of work only

Answer

The division of departments only

Answer

The relationship between the superiors and the subordinates

Question 9

In the foreign trade, the Bill of Lading relates to:

Accepted Answer

The transit of goods

Answer

The insurance of goods in transit

Answer

The processing of goods

Answer

The auction of goods damaged in transit