Business and Commerce MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7

51.
Foreign exchange for import of goods is sanctioned by:

A. Exim Bank

B. Reserve Bank of India

C. State Bank

D. Ministry of Commerce

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52.
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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53.
The oldest form of business organization is-

A. Partnership

B. Sole proprietor

C. Company

D. Cooperative undertakings

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54.
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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55.
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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56.
Maximum number of partners in a firm for non-banking business is:

A. 7

B. 10

C. 15

D. 20

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57.
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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58.
Who owns the public sector undertakings

A. Personal

B. Government

C. Cooperatives

D. Joint

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59.
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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60.
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

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1 2 3 4 5 6 7 8 9 10

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

Business and Commerce MCQ Questions and Solutions with Explanations | Commerce

51. Foreign exchange for import of goods is sanctioned by:

Answer & Solution

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

Answer & Solution

53. The oldest form of business organization is-

Answer & Solution

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

Answer & Solution

55. The main advantage of decentralised organisation is:

Answer & Solution

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

Answer & Solution

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

Answer & Solution

58. Who owns the public sector undertakings

Answer & Solution

59. Members of a private company:

Answer & Solution

Answer & Solution

Read More Section(Business and Commerce)

51.
Foreign exchange for import of goods is sanctioned by:

52.
Which one of the following is the most democratic form of organisation?

53.
The oldest form of business organization is-

54.
In the co-operative organisation, the voting rights of members are

55.
The main advantage of decentralised organisation is:

56.
Maximum number of partners in a firm for non-banking business is:

57.
The form of business organization for which no specific act has been made is

58.
Who owns the public sector undertakings

59.
Members of a private company: