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-9 section-3

What is the correct order of the following in export trade procedure:
1. Bill of Lading
2. Customs Formalities
3. Preparation of Invoice
4. Receipt of Indent
Select your answer from the following

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

Discuss

Answer & Solution

Answer: Option C

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

The basic idea on which co-operative society is formed is called

A) Organization has power B) One for all, all for one C) We can organize and face the competition well D) Unity in diversity

Discuss

Answer & Solution

Answer: Option B

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

The statement "self help and each for all" is basically related to:

A) Joint Hindu family firm B) Cooperative enterprise C) Partnership firm D) Joint stock company

Discuss

Answer & Solution

Answer: Option B

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

The role of staff in line-staff organisation is:

A) Authoritative B) Advisory C) Functional D) Committee

Discuss

Answer & Solution

Answer: Option B

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

In foreign trade the term 'Loco Price' means:

A) The cost of goods B) The price of goods including only the insurance expenses C) The cost of goods includes some amount of profit D) None of the above

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Answer & Solution

Answer: Option C

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

Staff authority:

A) renders advice B) possesses authority C) creates chain of command D) carries responsibility

Discuss

Answer & Solution

Answer: Option A

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

Private companies are preferred because:

A) They can raise capital by selling shares to the public B) They need not have any director C) Control is retained in the hands of a few persons D) their formation does not need any legal formality

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Answer & Solution

Answer: Option C

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

Responsibility lies in an organization-

A) In line officer B) In staff officer C) In informal officer D) All of the above

Discuss

Answer & Solution

Answer: Option A

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

"T Group Training" is also known as

A) Role Playing Training B) Sensitivity Training C) Position Rotation Training D) Committee Assignment

Discuss

Answer & Solution

Answer: Option B

Solution:

1. Option A: Role Playing Training
Role Playing Training involves participants acting out specific roles to develop skills or handle real-life situations. It is different from Sensitivity Training.

2. Option B: Sensitivity Training
Sensitivity Training, also known as T Group Training, focuses on increasing interpersonal awareness and improving group dynamics. This is the correct answer.

3. Option C: Position Rotation Training
Position Rotation Training involves moving employees across different roles to develop diverse skills. It is unrelated to T Group Training.

4. Option D: Committee Assignment
Committee Assignment involves group tasks to develop decision-making or problem-solving skills. It does not align with T Group Training.

Therefore, the correct answer is Option B: Sensitivity Training, as it specifically refers to interpersonal and group dynamic development.

A Public corporation is set up:

A) by a special Act of Parliament B) by a special order of the Government C) under Companies Act, 1956 D) by none of the above

Discuss

Answer & Solution

Answer: Option A

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