Commerce Questions with Answers

Commerce Questions with Answers

1. Bombay Stock Exchange Sensex consists of ……… script as on 31st March, 2005.
(A) 10 (B) 20
(C) 30 (D) 40
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2. The basic aim of Securities and Exchange Board of India (SEBI) is to–
(A) Develop an effective and efficient monitoring and control system for the Indian Capital Market
(B) To help Bombay Stock Exchange only
(C) To help National Stock Exchange of India Ltd. only
(D) To help OTC Exchange of India only
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3. A public company can start its business operations after getting–
(A) Certificate of Incorporation (B) Minimum Subscription
(C) Certificate of Commencement of Business (D) Permission of the Controller of Capital Issue
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4. Principle of ‘Unity of Command’ means–
(A) Unity of directions (B) To receive orders from one officer only
(C) A fixed place for every person (D) Proper delegation to subordinates
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5. Managerial Planning is a–
(A) Middle Level Function (B) Lower Level Function
(C) Top Level Function (D) All Level Function
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6. Paperless office calls for–
(A) Minimum record keeping (B) Maximum use of telephone
(C) Maximum use of computers (D) Elimination of reporting
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7. Delegation of authority signifies the delegation of–
(A) Authority (B) Responsibility
(C) Both of the above (D) None of the above
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8. Management by exception implies focussing attention on–
(A) All variations (B) Normal variations
(C) Abnormal variations (D) Randomly selected variations
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9. The most recent form of retail distribution is–
(A) Mail order business (B) Chain stores
(C) Departmental stores (D) Sky shopping
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10. Decentralisation–
(A) Increases the importance of supervisors
(B) Decreases the importance of supervisors
(C) Increases the importance of subordinates
(D) Decreases the importance of subordinates
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11. Hawthorne Experiments were conducted by–
(A) Elton Mayo (B) Henry Fayol
(C) F. W. Taylor (D) Peter F. Drucker
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12. Who is called ‘The Father of Scientific Management’ ?
(A) Elton Mayo (B) Henry Fayol
(C) E. F. L. Breach (D) F. W. Taylor
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13. A plan when expressed in quantitative terms is called–
(A) Policy (B) Procedure
(C) Objective (D) Budget
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14. Theory ‘X’ and Theory ‘Y’ of Motivation was propounded by–
(A) Herzberg (B) Maslow
(C) Elton Mayo (D) McGregor
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15. Direction involves–
(A) Physical factors (B) Financial factors
(C) Human factors (D) None of the above
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16. Consider the following categories of documentary evidence from the point of view of the degree of their reliability.
1. Documentary evidence originating from and held by the entity.
2. Documentary evidence originating from third parties and held by the entity.
3. Documentary evidence originating from and held by the third party.
4. Documentary evidence originating from entity and held by the third party.
Which one of the following is the correct order (high to low) of their degree of reliability ?
(A) 4 - 1 - 3 – 2 (B) 3 - 2 - 4 - 1
(C) 4 - 2 - 3 – 1 (D) 3 - 1 - 4 - 2
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17. Which one of the following is not included in the internal check as regards purchases ?
(A) Assessment of requirements (B) Placing orders
(C) Despatch of goods (D) Recording and making payments
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18. Consider the following statements–
1. It is mandatory for all business enterprises to conduct audit of accounts.
2. Audit Note Book is a tool in the conduct of audit.
3. Internal check system is an inbuilt mechanism within an organization to check frauds and errors.
Which of the statements given above is/are correct ?
(A) 1 only (B) 2 and 3 only
(C) 3 only (D) 1, 2 and 3
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19. Match List-I with List-II and select the correct answer using the code given below the Lists–
List-I (Type of Books)
(a) Minutes Book (b) Subsidiary Ledger
(c) Stores Ledger (d) Log Book
List-II (Content)
1. Records of issue of packing materials
2. Records of running hours of machine
3. Records of decisions at a meeting
4. Records entry of receipt from debtors
Codes :
(a) (b) (c) (d)
(A) 3 2 1 4
(B) 1 4 3 2
(C) 3 4 1 2
(D) 1 2 3 4
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20. What is the method in which an amount equal to the amount written off as depreciation is invested in outside securities in order to facilitate replacement of an asset at the expiry of its life period, called ?
(A) Annuity Method (B) Sinking Fund Method
(C) Replacement Method (D) Depletion Method
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