Business and Commerce MCQs

Question 1

Charter party is for

Accepted Answer

definite period of time or a definite voyage

Answer

definite period of time

Answer

definite voyage

Answer

none of the above

Question 2

Unlimited liability is related to:

Accepted Answer

Sole proprietorship

Answer

Joint stock company

Answer

Co-operative society

Answer

Charitable trust

Question 3

A partnership may come in to existence:

Accepted Answer

by express or implied agreement among the partners

Answer

only by registration under Indian Partnership Act, 1932

Answer

only by written agreement among the partners

Answer

by inheritance

Question 4

Which of the following is an instance of non-conventional dumping?

Accepted Answer

Reverse dumping

Answer

Sporadic dumping

Answer

Predatory dumping

Answer

Persistent dumping

Question 5

Maximum number of partners prescribed in

Accepted Answer

None of these

Answer

Contracts Act

Answer

Partnership Act

Answer

Income Tax Act

Question 6

Under the Trade Union Act 1926, how many minimum number of members are required for a trade union to be registered?

Accepted Answer

7

Answer

5

Answer

9

Answer

11

Question 7

Minimum number of members required for registration of a Co-operative Society is:

Accepted Answer

10

Answer

2

Answer

7

Answer

20

Question 8

A wholesaler as an intermediary is a link between

Accepted Answer

Manufacturer and Retailer

Answer

Manufacturer and Consumer

Answer

Manufacturer and Stockist

Answer

Retailer and Customer

Question 9

Which of the following statements is not true relating to a Company?

Accepted Answer

It can be declared insolvent

Answer

It can sue and can be sued

Answer

It has a separate legal entity

Answer

It has a perpetual succession