Business and Commerce MCQ Questions and Solutions with Explanations

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Business and Commerce MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Business and Commerce MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-10 section-3

Each section contains 100 MCQs on Business and Commerce .

The meaning of Vastro account is

A) Accounts maintained in India by foreign bank in Indian rupees B) Foreign account maintained by Indian book in dollars C) Foreign exchange held in India in foreign currency account D) Account maintained by an Indian bank in abroad in Indian rupees

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

What is the policy called in international trade, under which we import from the same country which imports from us in return

A) Multilateral import B) Bilateral trade C) Counter trade D) None of these

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

The liability of a partnership in respect of the debts of the firm is limited to

A) Upto the amount of his capital in the firm B) Upto the amount of his own capital and personal assets in the firm C) His capital in the firm and the amount of loans given to the firm D) Upto the amount assured to cover the losses

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

The scope and liability of a sole trade are respectively

A) Unlimited and limited B) Limited and limited C) Unlimited and unlimited D) Limited and unlimited

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

A partner, who does not take active part in the conduct of the partnership business, is known as

A) silent partner B) sleeping partner C) sub-partner D) nominal partner

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

In computation of balance of payments, overall balance of payments

A) Balance of current account + Balance of capital account + Statistical discrepancy B) Export of goods and invisibles - Import of goods C) Foreign exchange inflow - Foreign exchange outflow D) Export of goods and invisibles + Import of goods and invisibles

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Shipping Order is issued by the

A) Customs authorities B) Shipping company C) Exporter D) Reserve Bank of India

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Sole proprietorship is not suitable for those businesses

A) Which are very large in size B) Where less capital is required C) Where the degree of risk is not high D) Which requires personal attention to the customers

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Which one of the following characteristics best describes the biological or behavioural structure of an organization?

A) Extensive control expansion B) More centralization C) Higher level specialization D) Vertical position step

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

100

Business includes

A) only trade B) trade and industry both C) all the trade, industry and commerce D) only commerce

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

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Business and Commerce MCQ Questions and Solutions with Explanations | Commerce