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-8 section-4

If a network of interpersonal relationship that arise when people associate with each other is an informal organization, then find out which of the following is not an informal organization?

A) The "machine shop" group B) Customer's group C) The "sixth floor" group D) The "Friday evening bowling" gang

Discuss

Answer & Solution

Answer: Option B

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'Pisciculture' should be classified as:

A) Extractive industry B) Genetic industry C) Manufacturing industry D) Construction industry

Discuss

Answer & Solution

Answer: Option B

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Which of the following statements regarding National Commission is NOT true as per the Consumer Protection Act?

A) National Commission has been set up by the Central Government B) The chairman of the commission must be a sitting or retired judge of the Supreme Court C) The commission consists of 8 members out of which minimum 2 members are women D) It hears the appeals or complaints where the value/compensation exceeds Rs. 1 crore E) It hears the appeals made against the decisions of the State Commission

Discuss

Answer & Solution

Answer: Option C

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Consider the following Statement (A) and Reason (R)
Statement (A): Foreign trade strengthen the economic base of any country.
Reason (R): Foreign trade is basically done to make BOP favourable : Balance of and for the items which are not available, for delivery in the country.
Now select the correct answer from the given cut outs.

A) Both (A) and (R) are true and (R) is the correct explanation of (A) B) Both (A) and (R) are true and (R) is not the correct explanation of (A) C) (A) is true, but (R) is false D) (A) is false, but (R) is true

Discuss

Answer & Solution

Answer: Option A

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75
Limited partnership organisation is-

A) quite common in India B) not common in India C) not provided by statute in India D) provided in the Company's Act, 1956

Discuss

Answer & Solution

Answer: Option B

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76
A business where only male members can become partners is:

A) Limited partnership business B) Joint Hindu family business C) Co-operative form of business D) Export & import form of business E) Limited liability partnership business

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Answer & Solution

Answer: Option B

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77
In a partnership firm the scope of audit and duties of auditor are determined by:

A) Partnership Act B) Partnership Deed C) Agreement between partnership firm and auditor D) None of the above

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Answer & Solution

Answer: Option C

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78
Which of the following are included in the international liquidity? Indicate the correct option.
(i) Foreign exchange reserve
(ii) Borrowing capacity of the various countries
(iii) Gold reserves
Choose the correct answer:

A) (i) and (ii) B) (i) and (iii) C) (ii) and (iii) D) (i), (ii) and (iii)

Discuss

Answer & Solution

Answer: Option D

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79
Bretton Woods Conference resulted into the establishment of which of the following?

A) IMF and IDA B) IBRD and IFC C) IDA and ADB D) IMF and IBRD

Discuss

Answer & Solution

Answer: Option D

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80
A statutory corporation can be formed by:

A) Special Act of Parliament B) Registered agreement C) Registration under Societies Registration Act D) All of these

Discuss

Answer & Solution

Answer: Option A

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