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Tag: 200 TOP COMMERCE Multiple Choice Questions and Answers Pdf
by iqatts on May 31, 2017
2. Into how many departments is commerce mainly divided into? Which are they?
Into two. They are
Trade
Aids of trade
3. The trade is sub divided into two divisions, which are they?
Home trade and Foreign trade.
7. What is a company?
A company is an incorporated association which is an artificial person, having an independent legal entity, with a perpetual
succession, a common seal, a common capital comprised of transferable shares and carrying limited liability.
8. What is Audit?
An audit may be said to be such an examination of books, accounts and vouchers of a business, whether it is in a proper manner for
the financial period.
Central government,
local authorities and
the public corporations that run nationalized industries
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25. When did the government institute the Companies Amendment Act?
In February 1963.
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42. Who are entitled to take part in the control and management of business in a company?
The board of directors elected by the shareholders
43. In a company who is responsible for considering the legal aspects of company activities?
The company secretary
45. Which audit is conducted only once in a while and that also when the client desires?
Occasional audit
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51. What is the name of entry which is used in Bank Column cash book to record the money transaction?
Contra entry
52. The fixed cost of producing a quantity of a good divided by the quantity produced is :
Average fixed cost
54. Minimum number of persons who has to sign the Memorandom of association?
Seven persons in the presence of one witness
55. In the charter of the company while choosing a name which word should not be included?
Co-operative
56. In the name of a company which word should be used at the end?
Limited
58. Which is a document containing a rules and regulations for the internal management of the company?
The article of association
62. In which form the co-operative society, distributes its surplus dividends to its members?
In the form of bonus
63. Which is the technique designed to create an artificial market to benefit a businessman?
Rigging the market
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67. In the aspect of banking business what is the term used of giving loans to companies on a large scale?
Wholesale banking
68. The profit margin which a retailer of goods obtains form his supplier is called:
Trade discount
70. What is the term used to indicate a statement of what is owned and what is owed?
Assets and Liability statements
73. In which organization, every subordinate must obey his superior, whether be likes it or not?
Formal organization
74. Which department is maintained in every modern business house to obtain the good will of the people?
Public relations departments
77. Who first suggested the separation of manual work from mental labour through the establishment of two
department?
Taylor
84. What function of the computer ensures that the data are not distorted during processing?
Parity check
85. What is the term used with particular reference to bills of exchange?
Endorsement
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86. What is the price at which the supply curve for a good and its demand curve intersect called?
Equilibrium price
87. What is similar to overdraft except that it is comparatively for a longer period?
Cash credit
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1. General
2. Special
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