Business and Commerce MCQ Questions with Answers PDF Download

Business and Commerce MCQ Questions and Answers | 30 Important Objective Questions and Answer PDF

Business and Commerce MCQ:  Here we have shared business and commerce mcq questions and answers/ commerce questions and answers pdf/ business and commerce objective questions and answers/mcq quiz on business and commerce questions/ business and commerce GK questions and answers are given below. It helps in free and smooth flow of goods and services between the producer and customer. It creates employment opportunities and helps in the growth of industrial development etc.  To attract the customer and to create new demand in the market is an main purpose of commerce. Commerce offers more job opportunity in employees. you can have a wonderful convenient career as well as for Commerce jobs. You can read the below commerce questions carefully then select the best choice.

Business and Commerce MCQ PDF -Highlights

Article Name Business and Commerce
Number of Questions 30
Category MCQ Type

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Read the Given Below Objective Questions and Answer on Business and Commerce

1. A valid definition of a business purpose is to ___________

  1. A. Create a customer
  2. B. Maximize profits
  3. C. Serve the society
  4. D. Increase the wealth of the firm

Answer: Create a customer

2. A Joint stock company is governed by _______.

  1. A.  Companies Act 2006
  2. B. Companies Act 1936
  3. C. Companies Act 2013
  4. D. Companies Act 2012

Answer: Companies Act 2013

3. Membership of a co-operative is_________.

  1. A. voluntary
  2. B. not essential
  3. C. not compulsory
  4. D. compulsory

Answer: voluntary

4. A nominal partner is ______

  1. A. not liable for the acts of other partners
  2. B. not able to third parties
  3. C. By insolvency of any of the partner
  4. D. not entitled to share the profits of the concern

Answer: not entitled to share the profits of the concern

5. When a partnership is dissolved?

  1. A. By mutual consent
  2. B. In any case of death of any of the partner
  3. C. By insolvency of any of the partner
  4. D. None of the above

Answer: In any case of death of any of the partner

6. Who is dormant partner?

  1. A. One who takes no active part in business
  2. B. Minor partner
  3. C. A working partner
  4. D. Partner for profits

Answer: One who takes no active part in business

7.  Which of the following is not a manufacturing industry?

  1. A. Fruit canning
  2. B. Iron and steel works
  3. C. Flour Mills
  4. D. Mining

Answer: Mining

8. The liability of members of a co-operative society is _________.

  1. A.  limited to the amount of paid up value of the capital held
  2. B. limited to the amount of nominal value of capital held
  3. C. Limited
  4. D. unlimited

Answer: Limited

9. Dividend on preference capital will be paid _________.

  1. A. only when share holders recommend
  2. B. only when there are profits
  3. C. only when directors recommend
  4. D. even if there are no profits

Answer: only when directors recommend

10. _________ is not an economic activity.

  1. A. A student playing cricket
  2. B. A lawyer practicing law
  3. C. A doctor practicing
  4. D. A professional cricketer playing cricket

Answer: A student playing cricket

11. A Company is called an artificial person because _________.

  1. A. It does not have the shape of a natural person
  2. B. It is invisible and intangible
  3. C. It cannot be used in the court of law
  4. D.  It exists only in contemplation of law

Answer: It is invisible and intangible

12. The liability of shareholders of a public company is limited to the____________

  1. A.  paid up value of shares
  2. B. nominal value of shares
  3. C. extent of their private assets
  4. D. accounts called up

Answer:  paid up value of shares

13. Sole-trade organization is also called as __________

  1. A. Joint stock company
  2. B. Partnership
  3. C. Individual proprietorship
  4. D. Co-operative society

Answer: Individual proprietorship

14. The partnership entity is __________.

  1. A. legal entity
  2. B. neither entity nor accountable entity
  3. C. legal entity and accountable entity
  4. D.  legal entity and accountable entity

Answer:  legal entity and accountable entity

15. Which of the following is an extractive industry?

  1. A. Forest cultivation
  2. B. Cattle breeding
  3. C. Hunting
  4. D. Flour mills

Answer: Hunting

16. The minimum number of shareholders in a public limited company is_________

  1. A. 2
  2. B. 3
  3. C. 7
  4. D. 5

Answer: 7

17. The primary function of an office is _______.

  1. A. remuneration personnel
  2. B. carrying out the management policies
  3. C. safeguarding of authority means
  4. D. making, using and preserving records

Answer: making, using and preserving records

18. A private company should have at least _________ members.

  1. A. 2
  2. B. 7
  3. C.10
  4. D. 35

Answer: 2

19. What is called to buying of shares by taking money from brokers?

  1. A.  Curb dealing
  2. B. Margin trading
  3. C. Badla
  4. D. Forward

Answer: Margin trading

20. The primary aim of co-operative is to ________.

  1. A. earn more profits
  2. B.  raise production
  3. C. serve the members
  4. D. raise more money

Answer: serve the members

21. Business means ___________

  1. A. Selling and buying of goods
  2. B. Industry and commerce
  3. C. Trade and commerce
  4. D. Commerce

Answer: Industry and commerce

22. When SEBI came into force?

  1. A. 1990
  2. B. 1991
  3. C. 1993
  4. D. 1992

Answer: 1992

23. Indexing is an important ________.

  1. A. method of maintaining account books
  2. B. aid to filing
  3. C. method of maintaining statistical book
  4. D. method of filing

Answer: method of maintaining account books

24. Members of Bombay stock exchange are unofficially classified into___________

  1. A. brokers and tarawaniwalas
  2. B. brokers and jobbers
  3. C. there is no such classification of members of stock exchange
  4. D. jobbers and tarawaniwalas

Answer: brokers and tarawaniwalas

25. Dealings in stock exchanges can be done by public ONLT __________.

  1. A. directly
  2. B. through brokers
  3. C. directly or through brokers
  4. D. only by corporate houses

Answer:  through brokers

26. A speculator who applies for new share is ________.

  1. A. lame duck
  2. B. jobber
  3. C. middle man
  4. D.  a stag

Answer:  a stag

27. Bank overdraft is a good source of finance for _________.

  1. A. Medium term
  2. B. Long term
  3. C. Short term
  4. D. Short and long term

Answer:  Short term

28. Which of the following companies may issue share warrants?

  1. A.  Companies limited by guarantee
  2. B. Public limited companies
  3. C. Private limited companies
  4. D. Trust

Answer: Public limited companies

29. Which of the following is not an ownership security?

  1. A. Preference shares
  2. B. Equity shares
  3. C. Debentures
  4. D. None

Answer: Debentures

30. A partnership firm cannot raise funds by __________.

  1. A. debentures
  2. B. bank loan
  3. C. partner capital
  4. D. Partner loan

Answer: debentures

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