Business and Commerce MCQ Questions and Solutions with Explanations

Business and Commerce MCQ Questions and Solutions with Explanations | Commerce

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-6 section-6

Foreign exchange for import of goods is sanctioned by:

A) Exim Bank B) Reserve Bank of India C) State Bank D) Ministry of Commerce

Discuss

Answer & Solution

Answer: Option B

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Which one of the following is the most democratic form of organisation?

A) Line B) Line and staff C) Functional D) Committee

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Answer & Solution

Answer: Option D

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

The oldest form of business organization is-

A) Partnership B) Sole proprietor C) Company D) Cooperative undertakings

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Answer & Solution

Answer: Option B

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In the co-operative organisation, the voting rights of members are

A) in proportion to the capital paid by each member B) equal, irrespective of the amount of capital contribution by members C) in proportion to the nominal value of capital held by each member D) in proportion to the total finance supplied including the amount of loan by each member

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Answer & Solution

Answer: Option D

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The main advantage of decentralised organisation is:

A) Top executive extends his control area B) Co-ordination of activities becomes automatic C) Top management can manage by 'exception' D) Operation costs are lower

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Answer & Solution

Answer: Option C

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Maximum number of partners in a firm for non-banking business is:

A) 7 B) 10 C) 15 D) 20

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Answer & Solution

Answer: Option D

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The form of business organization for which no specific act has been made is

A) Partnership B) Company C) Cooperative society D) Sole trade business

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Answer & Solution

Answer: Option D

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Who owns the public sector undertakings

A) Personal B) Government C) Cooperatives D) Joint

Discuss

Answer & Solution

Answer: Option B

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Members of a private company:

A) Can transfer shares by obtaining permission of the Government B) Can transfer shares freely C) Cannot transfer shares at all D) Can transfer shares within restrictions imposed by articles

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Answer & Solution

Answer: Option D

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Match List-I with List-II:

List-I	List-II
a. Transfer of ownership	1. Negotiable Instrument
b. Sale of goodwill after dissolution	2. Contract of sale of goods
c. Buy-back of securities	3. Dissolution of partnership firm
d. Promissory Note	4. Share capital of company

Choose the correct option from those given below:

A) a-2, b-3, c-4, d-1 B) a-3, b-4, c-2, d-1 C) a-4, b-2, c-1, d-3 D) a-1, b-2, c-3, d-4

Discuss

Answer & Solution

Answer: Option A

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