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-2 section-4

Each section contains 100 MCQs on Business and Commerce .

The liability of a sole proprietor is limited to the extent of:

A) His capital invested in the business B) The value of his business assets C) The value of his business assets and his all private assets D) None of these

Discuss

Answer & Solution

Answer: Option C

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

The members of a private company:

A) have a right to transfer their shares freely to any one B) cannot transfer their shares at all C) are entitled to transfer their shares within the restrictions imposed by Articles D) can transfer their shares by obtaining prior permission of the Company Law Board

Discuss

Answer & Solution

Answer: Option C

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

The social responsibility of business is-

A) to the customers B) to the government C) to the shareholders D) to all of them

Discuss

Answer & Solution

Answer: Option D

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

Balance of trade is related to:

A) Export trade B) Import trade C) Internal trade D) Both A and B

Discuss

Answer & Solution

Answer: Option D

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

The first Director of a Company is appointed by:

A) Promoters B) Registrar of Companies C) Shareholders D) None of these

Discuss

Answer & Solution

Answer: Option A

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

'Letter of Credit' is opened in case of:

A) Foreign Trade B) Internal Trade C) Both A and B above D) Obtaining loan from a financial institution

Discuss

Answer & Solution

Answer: Option A

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

Which of the following is not regulated by The Competition Act, 2002?

A) Abuse of dominant position B) Anti-competitive agreements C) Medical negligence D) Predatory pricing

Discuss

Answer & Solution

Answer: Option C

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

According to Talcott Parson, organizations can be classified primarily into four categories, based on functions. Which of the following is not an organization in Parson's scheme?

A) Political organisations B) Integrative organisations C) Pattern maintenance organisations D) Commercial organisations

Discuss

Answer & Solution

Answer: Option D

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

If a minor partner on attaining majority chooses to continue as a partner of the firm, he shall be liable to the category of the firm, in this

A) From the date of attainment of majority B) From the date of receipt of profit of the firm C) From the date on which he chooses to becomes a partner D) From the date of option being exercised by the guardian

Discuss

Answer & Solution

Answer: Option C

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

Which of the following statements is not correct:

A) A private company is not required to prepare a statutory report B) Sharing of profit is a prima facie but not conclusive evidence of partnership C) Maximum number of members in a private company can be 50 D) Minimum number of members in private company is 7

Discuss

Answer & Solution

Answer: Option D

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