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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-9 section-1

Each section contains 100 MCQs on Business and Commerce .
81
Insurance is based on the principle of _______.
Discuss
Answer & Solution
Answer: Option A
Solution:
Insurance is based on the principle of economic co-operation. It is a pooling of risks and spreading over a number of persons. It is the basic principle of insurance. The premium is collected from a number of persons, and an insurance fund is created. From this fund, the compensation is given to the contributors who suffer contingent loss. In modern days, it is now a specialized branch of commerce. Today, insurance covers a wide range of risks. It now closely related to the day-to-day life of individuals as well as of the nation. It also plays a prominent role in the national economy.
82
The building used by the professional is called _________ office.
Discuss
Answer & Solution
Answer: Option A
Solution:
The building used by the professional is called Quiet office.
83
A building jointly owned is called office________.
Discuss
Answer & Solution
Answer: Option B
Solution:
A condominium, usually shortened to condo, is a type of real estate divided into several units that are each separately owned, surrounded by common areas jointly owned.
84
Which type of classification is based on numerical order?
Discuss
Answer & Solution
Answer: Option C
Solution:
Numerical classificatio is based on numerical order. An assessment of the relative contribution of the intangible items to the aggregate intangible value based on a managerial point of view of the strategic choices, goals and positions of the firm.
85
Which type of classification is based on the area of operation?
Discuss
Answer & Solution
Answer: Option D
Solution:
Geographical classification is based on the area of operation. A geographic classification code that represents the geographic area and, if applicable, the geographic subarea and populated place.
86
In which method of filing, papers and documents are placed in metal holders in chorological order?
Discuss
Answer & Solution
Answer: Option C
Solution:
Metal holders method of filing, papers and documents are placed in metal holders in chorological order. This method is inconvenient for maintenance and outdated .
87
In which method of filing, all the letters and documents are passed in the book in chorological order?
Discuss
Answer & Solution
Answer: Option B
Solution:
In Bound book method of filing, all the letters and documents are passed in the book in chorological order. Whenever papers are to be filed, they are pasted on leaves of books in a chronological order. Small papers of varying sizes are filled in the bound book.
88
Which types of files are available in the form of tray that lie flat horizontally in a cabinet?
Discuss
Answer & Solution
Answer: Option C
Solution:
Visible files are available in the form of tray that lie flat horizontally in a cabinet. A visible file, sometimes just called a kardex, after a prominent purveyor, is a filing system for overlapping cards fixed in shallow drawers.
89
Which index system is used when small information is required about customers?
Discuss
Answer & Solution
Answer: Option C
Solution:
Strip index system is used when small information is required about customers. Strip indexing is a rarer form of indexing. Visualize a set of small strips on card stock, placed so each is visible. The strip index can hang up on a wall.
90
Except life insurance generally the maximum term of other insurance is ________ .
Discuss
Answer & Solution
Answer: Option A
Solution:
Except life insurance generally the maximum term of other insurance is 12 months.