Business and Commerce MCQ Questions and Solutions with Explanations | Commerce

A. Bill of sight

B. Bill of lading

C. Shipping bill

D. Mate's receipt

A. Income tax is debited to Profit and Loss Account

B. While preparing Final Accounts, if goods are in- transit, but their invoice is received, proper entry should be made in books of account

C. While preparing Final Accounts, if goods are received, but their invoice is not received, no entry should be made in books of account

D. None of the above

A. To facilitate the implementation, administration and operation of trade agreements

B. To settle differences and disputes among its member countries

C. To facilitate the expansion and balanced growth of international trade

D. To carry out periodic reviews of the trade policies of its member countries

A. 1 and 4

B. 2 and 4

C. 1 and 2

D. 3 and 4

A. Encourage Competition

B. Prevent abuse of dominant position

C. Prevent monopolistic rights arising out intellectual property

D. Regulate mergers and acquisitions

A. 2000

B. 2001

C. 2003

D. None of these

A. On the misbehaviour of a partner

B. On the unsound mind of the partner

C. Incase of loss in business

D. On the absence of any partner

A. Sole Trade

B. Partnership firm

C. Company

D. All of the above

A. Accounting of Foreign Investment

B. Investment by NRIs

C. Foreign investments

D. All of the above

A. Exchange bank

B. State bank

C. Exim bank

D. Reserve Bank of India