Business and Commerce MCQs

Question 1

When the Exchange Bank sends all the documents to its branch in the importer's country with the instruction to deliver the shipping documents to the importer against the receipt of money from him, such documents are known as:

Accepted Answer

Letter of Credit

Answer

D/A

Answer

D/P

Answer

Foreign Bill of Exchange

Question 2

Accountability in an organisation lies with:

Accepted Answer

Line authority

Answer

Staff authority

Answer

Informal authority

Answer

All of the above

Question 3

A Public Corporation means a-

Accepted Answer

Statutory corporation

Answer

Public Company

Answer

Private Company

Answer

Government Company

Question 4

Which one among the following is not a part of TRIPS agreement?

Accepted Answer

Interior Design

Answer

Industrial Design

Answer

Geographical Indications

Answer

Layout Designs of Integrated Circuits

Question 5

A Government company is one wherein:

Accepted Answer

At least 51% equity shares are owned by the government

Answer

Majority of the preference shares are owned by the government

Answer

Majority of the debentures are owned by the government

Answer

Whole of the shares and debentures are owned by the government

Question 6

SBI Life is a

Accepted Answer

Public company

Answer

Private company

Answer

Constitutional undertaking

Answer

Associates of LIC

Question 7

The object of Filing is:

Accepted Answer

All the above

Answer

Proper sorting of letters

Answer

Proper preservation of letters

Answer

Quick retrieval of letters

Question 8

The maximum number of forms of business organization in India is

Accepted Answer

Sole proprietor business

Answer

Cooperative undertakings

Answer

Company

Answer

Partnership

Question 9

According to FEMA, foreign exchange does NOT include

Accepted Answer

Drafts drawn by banks outside India and payable in foreign currency

Answer

Deposits payable in any foreign currency

Answer

Bills of exchange drawn in Indian currency but payable in any foreign currency

Answer

Travellers cheques drawn by institutions outside India but payable in Indian currency