Top Commerce Questions

Top Commerce Questions

1. A meeting of the shareholders held only once during the life time of the company is known as–
(A) Meeting of the Directors (B) Meeting of the Creditors
(C) Extraordinary General Meeting (D) Statutory Meeting
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2. For calling the Extraordinary General Meeting a clear notice of ……… days must be given to all the members.
(A) 7 (B) 15
(C) 21 (D) 30
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3. Appointment of a person who is a Director, as a Secretary in the Company would require approval of the company by–
(A) Special Resolution (B) Ordinary Resolution
(C) Resolution by circulation (D) None of the above
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4. The first Stock Exchange in India was established in–
(A) Kolkata (B) Delhi
(C) Mumbai (D) Chennai
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5. Blue Chips Shares mean–
(A) Those shares which are listed in Stock Exchange
(B) Those shares whose guarantee is given by Government
(C) Those shares on whom dividend is paid at higher rate regularly
(D) Those shares which are issued at first time
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6. The profit ratio of A, B and C, who are partners in a firm, is 4 : 3 : 2. After D is admitted, their sacrificing ratio will be–
(A) 4 : 3 : 2 (B) 1 : 3 : 2
(C) Equal (D) 5 : 3 : 2
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7. X and Y are sharing profits in the ratio of 4 : 3. Z joins and new profit sharing ratio of X, Y and Z is 7 : 4 : 3. The sacrificing ratio of X and Y will be–
(A) Equal (B) 4 : 3
(C) 2 : 1 (D) 1 : 2
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8. A and B were partners in a business and were sharing profit and loss in the ratio of 3 : 2. They admitted C as a partner for 15 th share. The new profit sharing ratio shall be–
(A) 3 : 2 : 1 (B) 6 : 4 : 1
(C) 12 : 8 : 5 (D) 12 : 6 : 2
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9. At the time of admission of a new partner, general reserve is transferred to–
(A) Old partner’s Capital Account
(B) Profit and Loss Adjustment Account
(C) Balance Sheet
(D) None of these
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10. A, B and C are partners sharing profits and losses in the ratio of 5 : 3 : 2. D is admitted in the first as a partner for 1/5th share. The sacrificing ratio of A, B and C will be–
(A) 3 : 2 : 5 (B) 5 : 3 : 2
(C) 5 : 2 : 3 (D) 2 : 3 : 5
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11. Grapevine communication is a type of–
(A) Formal communication (B) Informal communication
(C) Horizontal communication (D) Vertical communication
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12. The ‘Principle of Exception’ states that management should–
(A) Check everything without exception
(B) Invariably take corrective action without exception
(C) Accept exceptions in emergencies
(D) Concentrate their attention on exceptions
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13. Which of the following is not a component of ‘SWOT Analysis’ ?
(A) Threats (B) Strengths
(C) Weaknesses (D) Options
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14. Organisational change is necessitated by–
(A) External environmental pressure (B) Internal strengths and weaknesses
(C) Sequential changes (D) All the above
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15. Which management functions are closely related to ?
(A) Planning and Organising (B) Organising and Staffing
(C) Staffing and Control (D) Planning and Control
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16. Which one of the following statements is not correct ?
(A) Business firms combine to avoid wasteful competition
(B) Business combination is possible only among joint stock companies
(C) Business firms may combine to take advantage of patent rights of individual firms
(D) During economic depression, small firms are absorbed by financially sound large firms
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17. What is the theory of social responsibility that focuses on how companies respond to issues, rather than trying to determine their ultimate social responsibility, called ?
(A) Corporate social performance (B) Corporate social responsiveness
(C) Stewardship principle (D) Enlightened self-interest
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18. What is a systematic evaluation of a company's activities in a given area of social interest such as environmental protection, workplace safety or community involvement, called ?
(A) Social responsibility (B) Social accounting
(C) Social audit (D) Social forecasting
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19. What is cross rate ?
(A) A rate of exchange derived from central bank
(B) A rate of exchange between two currencies, other than those that form a market's principal rates
(C) A rate of exchange derived from the quotations for buying currencies
(D) A rate of exchange quoted by a dealer in foreign exchange for selling currencies
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20. Which one of the following statements is not correct ?
(A) Working capital is made available by the banks to the export sector at subsidized rates of interest
(B) Market Development Fund provides the necessary financial assistance for market promotion
(C) Export Houses/Star Trading houses are granted additional license against exports made during the preceding year
(D) Export profits enjoy a variety of tax concessions in India
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