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-3 section-6

Each section contains 100 MCQs on Business and Commerce .

Which of the following is not a method of Foreign Exchange?

A) Bill of Exchange B) Letter of Credit C) Hundi D) Telegraphic Transfer

Discuss

Answer & Solution

Answer: Option C

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

The maximum number of persons in a joint Hindu family business is:

A) 10 B) 20 C) 50 D) Not prescribed

Discuss

Answer & Solution

Answer: Option D

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

Which of the following acts has replaced the Monopolistic and Restrictive Trade Practices (MRTP) Act?

A) Consumer Protection Act B) Foreign Exchange Management Act (FEMA) C) Essential Commodities Act D) Food Safety and Standards Act E) Competition Act

Discuss

Answer & Solution

Answer: Option E

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

Germany is the motherland of:

A) Scientific management B) Rationalisation C) Rationalisation and Scientific management D) Combinations

Discuss

Answer & Solution

Answer: Option B

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

As per the commonly held belief, . . . . . . . . is concerned with the top management and . . . . . . . . is a function of middle and low level management.

A) management; administration B) administration; management C) execution of plans; planning D) budgetting; resource allocating E) planning; strategic decision making

Discuss

Answer & Solution

Answer: Option B

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

The theories that explain the formation of 'Informal Groups' are to include which of the following?
1. Propinquity Theory
2. Similarity or Balance Theory
3. Displacement Theory
4. Need for achievement Theory
Choose the correct option from those given below:

A) 1 and 4 only B) 1 and 2 only C) 1, 2 and 3 only D) 1, 2, 3 and 4 only

Discuss

Answer & Solution

Answer: Option B

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

"All for each and each for all" statement is applicable to:

A) Company form of business B) Sole proprietorship business C) Partnership business D) Joint Hindu family business E) Co-operative form of business

Discuss

Answer & Solution

Answer: Option E

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

As per the Consumer Protection Act, who among the following is NOT regarded as Consumer?

A) Who buys any goods or services B) Who hires or avails any services C) Who uses/is benefitted from services without making any payment D) Who obtains goods for resale E) Who sells/purchases shares to a share broker

Discuss

Answer & Solution

Answer: Option D

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

What is the time limit for filing a complaint to the District Forum?

A) One year B) Two years C) Three years D) Infinite (There is no such limit)

Discuss

Answer & Solution

Answer: Option B

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

A partner under his 'Implied Authority' can

A) enter into partnership with others on behalf of the firm B) submit a dispute relating to the business of the firm for arbitration C) defend any suit filed against the firm D) withdraw any suit or proceeding filed on behalf of the firm

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