SEMESTER-I- BUSINESS ORGANIZATION MCQ SET-2/3
BUSINESS ORGANIZATION MCQ
SET-2/3
PART-6
1. By whom the planning related work of management is done?
A. top level management
B. middle level management
C. Lower level management
D. ALL OF THE ABOVE
Answer – D
2. What are the differences between management by objectives?
A. Determination of objectives at the highest level by self
B. Simultaneous setting of objectives at all levels
C. Determination of objectives to maximize profits
D. ALL OF THE ABOVE
Answer – A
3. Which of the following is included in the controlling function of management?
A. cost control
B. financial control
C. budgetary control
D. production control
E. all of these
Answer – E
4. By whom was the functional form of organization first developed?
A. by army
B. F. by W Taylor
C.Hitler
D. Fayol
Answer – B
5. Which of the following is the oldest form of organization?
A. linear organization
B. Committee Organization
C. functional organization
D. Committee organization
Answer – A
6. In functional organization –
A. Organization is divided according to the nature of work involved
B. authority flows in a vertical vertical line from the uppermost person to the outgoing person
C. Each employee is subordinate to only one supervisor
D. The organization is divided according to the efficiency required to accomplish a task.
Answer – A
7. Working capital should not be used in respect of which of the following?
A. Payment of salary
B. Release of Papers
C. Payment of creditors
D. Purchase of raw material
Answer – B
8. Letter of Credit –
A. Bad debentures cannot be
B. Partnership or associate cannot be debentures
C. cannot be bearer debentures
D. none of these
Answer – B
9. Associated Cement Company is an example of which of the following?
A. Perpendicular Combination
B.Committee Combination
C. circular combination
D. flat combination
Answer – D
10. When three sugar mills are combined, it is an example of which of the following combinations?
A. combination of plane
B. vertical integration
C. Lateral connection
D. circular combination
Answer – A
11. When a cement mill, a steel mill and a chemical company combine, the combination is called which of the following?
A. flat combination
B. perpendicular combination
C. causal combination
D. circular combination
Answer – D
12. Which of the following is the form or type of Chamber of Commerce?
A. Association
B. Federation
C. partial consolidation
D. full integration
Answer – A
13. Pools are the type of which of the following?
A. flat combination
B. perpendicular combination
C. auxiliary conjunction
D. none of these
Answer – A
14. Cartels are which of the following types?
A. flat combination
B. perpendicular combination
C. auxiliary conjunction
D. mixed combination
Answer – A
15. How is discretionary provision not made available?
A. By business combination
B. by modernizing the plant
C. by certifying the products
D. by creating monopolistic institutions
Answer – D
16. Management?
A. is an art
B. is a science
C. is both art and science
D. is neither art nor science
Answer – C
17. Which of the following documents can be amended or modified retrospectively?
A. Councilor Limit Rules
B. Councilor Difference Rules
C. Description
D. none of these
Answer – B
18. By whom can the object clause of the Councilor Limit Rules be changed or amended?
A. simple proposition
B.Special offer
C. By special resolution and certification by the Registrar of Companies
D. By specific resolution and certification by the Company Law Board
Answer – D
19. The share capital of a company can be reduced or decreased by which of the following?
A. By resolution of the Board of Directors
B. By simple resolution
C. by specific resolution
D. By obtaining permission from the Company Law Board
Answer – C
20. By whom should the statutory declaration be made at the time of incorporation of the company?
A. Chartered Accountant
B.Advocate
C. a person who is the secretary of the company
D. none of these
Answer – D
21. What is the maximum number of directors in a public company under the Companies Act?
A.34
B.12
C.10
D.no limit
Answer – D
22. A partnership firm cannot raise capital by which of the following means?
A. Bank loan
B. Partner's loan
C. letter of credit
D. capital of partnership
Answer – C
23. In relation to what is the term 'capitalization' used?
A. Sole Proprietorship
B.Partnership
C. Joint Stock Companies
D. cooperatives
Answer – C
24. Working capital can be used for the purchase of which of the following?
A. Machinery
B. fame
C. Land and Building
D. raw material
Answer – D
25. How can the name of a company be changed?
A. By simple resolution
B. by special resolution
C. With the approval of the Central Government
D. By special resolution and approval of the central government
Answer – D
26. Which of the following documents defines the area of activities of the company?
A. Councilor Limit Rules
B. Councilor Inter Rule Mawli
C. Description
D.statutory declaration
Answer – A
27. Councilor Inter-rules establish relation between whom?
A. Between the company and its member
B. between the company and outsiders
C. Between the company and its members and among the members
D. all of these
Answer – C
28. In public limited companies, which of the following documents are not required to be prepared and registered with the Registrar of Companies?
A. Councilor Limit Rules
B. councilor gap rule
C. statutory declaration
D. none of these
Answer – B
29. Which of the following companies can adopt Table 'A' in place of the Councilor Inter-rules?
A. Private limited companies
B. Public limited companies
C. Joint Committee Companies
D. Unlimited Companies
Answer – B
30. Which of the following is the most important document of the company?
A. Councilor Limit Rules
B. councilor gap rule
C.Annual Report
D. Description
Answer – A
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PART-7
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1. A trader who sells goods at home is called?
A.hawker
B. Sole Proprietorship
C.retailer
D. none of these
Answer – A
2. What is included in commerce?
A. Sale and purchase of goods only
B. business and industry
C. only business but not industry
D. Sale and purchase and all such activities which are helpful in business
Answer – D
3. Business refers to which of the following?
A. commerce
B. Industry and Commerce
C. trade and commerce
D. Sale and purchase of goods
Answer – B
4. Which of the following are included in the industry?
A. Banking Institutions
B. transport companies
C. construction of buildings
D. insurance business
Answer – C
5. Which of the following is not a business activity?
A. A person sells his radio set and earns a profit of ₹ 50 on it.
B. a transport company
C. an electricity supplier
D. Cooking of food in restaurant
Answer – A
6. What should be considered profit in a private business venture?
A. For honest business and legitimate remuneration
B. supreme objective of business
C. Sole purpose of business
D. genetic adjunct to the purpose of the service
Answer – A
7. What is meant by the term organization?
A. Management of business
B. Accomplishing the goal by any means
C. The process of delineating the duty of persons to effectively achieve the specified
D. Centralization of power in a particular person to achieve business objectives
Answer – C
8. Which of the following should be considered as the most important factor in the formation of the form of business organization?
A. Type of Business Trading, Manufacturing etc.
B. Intended expansion of business
C. financial demand
D. Scope of Operation
Answer – C
9. What is the oldest form of business organization?
A.Partnership
B. Sole Proprietorship
C. joint stock company
D. co-operative enterprise or industry
Answer – C
10. Registration of which of the following forms of business organization is legally mandatory?
A. Sole Proprietorship
B.Partnership Business
C. Joint Stock Company
D. cooperative industry
Answer – C
11. What are the liabilities of the Sole Proprietor?
A. Limited to the extent of the capital invested by him in the business
B. limited to the extent of the value of business assets
C. limited to the extent of the business assets and the value of all his personal assets
D. none of these
Answer – C
12. What is the maximum number of partners in a firm for general business?
A.71
B.50
C.20
D.34
Answer – C
13. What is the maximum number of partners in a firm carrying on banking business?
A.45
B.12
C.10
D.15
Answer – C
14. The maximum number of partners in a firm is fixed by which of the following?
A.Partnership Act 1932
B.Companies Act 1956
C.Contract Act 1956
D. none of these
Answer – D
15. Agreement or contract of partnership -
A. must be oral
B. must be in writing
C. can be either oral or written
D. must be in writing on the stamp paper
Answer – C
16. When should a partnership be dissolved?
A. When a partner misbehaves
B. Business runs in loss
C. When a chieftain dies
D. When one of the partners becomes ill or sick
Answer – D
17. How can partnership come into existence?
A. by the originator of the law
B. only by express agreement
C. Only by express agreement to travel
D. By inheritance of property
Answer – C
18. Which of the following inherent rights does a partner have?
A. He can acquire immovable property on behalf of the firm
B. He can enter into partnership on behalf of the firm
C. He can borrow money on behalf of the firm
D. none of these
Answer – C
19. Registration of partnership -
A. are optional
B. Mandatory under the Income Tax Act
C. Compulsory under the Indian Cooperative Act
D. none of these
Answer – A
20. Which is best suited for Sole Proprietorship?
A. International trade
B. large mechanical industries
C. departmental stores
D. none of these
Answer – C
21. A partnership firm has…..
A. has a permanent existence
B. has an uncertain life
C. has a life of indefinite duration
D. none of these
Answer – C
22. A bank may refuse to pay the amount of a check if –
A. He is short of money
B. If the accounts are done in Hindi
C. If the date of issue of check is earlier than 4 months of presentation
Answer – D
23. A partnership agreement –
A. is a written legal document
B. is an oral agreement
C. cannot be legally enforced
D. none of these
Answer – A
24. Preference shareholders shall ordinarily—
A. no right to vote
B. limited voting rights
C. has full right to vote
D. none of these
Answer – C
25. Wholesaler of goods –
A. sell directly to consumers
B. sell to retailers
C. sell to traders who buy in bulk
D. none of these
Answer – B
26. Are there super market samples?
A. departmental stores
B. Trade by post
C.multiple stores
D. none of these
Answer – A
27. Is it mandatory for a private company to convene a statutory meeting?
A. Yes
B.No
C.not necessary
D. none of these
Answer – B
28. What is meant by limited partnership as a form of business organization?
A. The number of partners is limited
B. The liability of some partners is limited
C. The liability of all the partners is limited
D. The amount of capital that can be accumulated is limited
Answer – B
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PART-8
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1. What is the maximum number of members in a private limited company?
A.19
B.60
C.50
D.10
Answer – C
2. What is the minimum number of directors in a private limited company?
A.4
B.7
C.9
D.2
Answer – D
3. What is the minimum number of members in a public limited company?
A.5
B.8
C.7
D.9
Answer – C
4. What is the maximum number of members in a public limited company?
A.56
B.23
C.30
D.50
Answer – C
5. What is the minimum number of directors in a public limited company?
A.3
B.7
C.2
D.1
Answer – A
6. What is the liability of the shareholders in a public limited company limited to?
A. Paid up value of shares
B. Nominal value of shares
C. the extent of their personal assets
D. Till now liability
Answer – B
7. What are the most important features of joint stock company under business organization?
A. the liability of its members is limited
B. Its members can transfer their shares conveniently
C. Its area of expansion is infinite
D. Its financial sources are much wider than other organizations
Answer – D
8. When can a private limited company start?
A. Immediately after the certificate of incorporation
B. without obtaining a certificate of incorporation
C. Certificate of Incorporation as well as Certificate of Commencement of Business is obtained
D. none of these
Answer – A
9. A company is called an artificial person because –
A. It does not exist as a natural person
B. It is invisible and intangible
C. It cannot be sued in a court of law
D. Its existence lies only in the spirit of law
Answer – D
10. What is the maximum number of companies a person can be director of at a time?
A. five companies
B.20 companies
C. Seven companies
D.8 companies
Answer – B
11. Which of the following is an example of a company incorporated by a special Act of Parliament?
A.Delhi Cloth and General Mills Limited
B.Tata Iron and Steel Company Limited
C. Industrial Finance Corporation
D.Swadeshi Cotton Mills Limited
Answer – C
12. Table 'A' of the Companies Act provides for which of the following?
A. A form of working capital
B. Ideal format of Balance Sheet
C. An ideal councilor limit rule
D. an ideal difference manual
Answer – D
13. When will the dividend on preference capital be paid?
A. Only when there is profit
B. If there is no profit
C. only when the operator recommends
D. none of these
Answer – C
14. When minimum 51% of the share capital is held by the government then what is the business organization called?
A. public company
B. Government company
C. public corporation
D. public sector
Answer – D
15. According to which Act the Board of Trade is organized in India?
A.Factory Act 1948
B. Companies Act 1956
C.both
D. none of these
Answer – B
16. “A business office has as important a place in business as the main spring in a clock”. Whose say?
A. Marshall's
B. F. W. Taylor
C. Dixie
D. none of these
Answer – C
17. Is there a vow letter?
A. oral
B. written
C. unconditional
D. none of these
Answer – B
18. What is underlined?
A. Bill
B. Hundi
C. check
D. none of these
Answer – C
19. How many days grace day is given in cheque?
A.1
B.2
C.3
D. not even a day
Answer – D
20. What are post dated bills?
A. In which past date is given
B. In which future date is given
C. In which current date is given
D. none of these
Answer – B
21. An order is a form which –
A. Given by the importer to the exporter's agent
B. delivered directly to the producer
C.both of the above
D. none of these
Answer – A
22. Order -
A. can be written
B. can be oral
C. can be either written or oral
D. none of these
Answer – C
23. “Foreign exchange is the science and art of international monetary exchange” is defined by
A. Piku
B. Court
C. Hartley Withers
D. none of these
Answer – C
24. In the foreign exchange market –
A. Goods are bought and sold
B. Currencies of different countries are bought and sold
C. Services are bought and sold
D. none of these
Answer – B
25. A country to keep the exchange rate high –
A. Adopts the policy of devaluation
B. adopts a policy of export-contraction
C. follows both the policies
D. none of these
Answer – A
PART-9
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1. When was the decision to establish the International Monetary Fund taken?
A.1940
B.1944
C.1897
D.1987
Answer – A
2. I.M.F. Where was the conference for the establishment of
A. America (Bretton Woods)
B.Japan
C.France
D.Russia
Answer – A
3. Who can get membership of Mudra Kosh?
A. Developed countries
B. underdeveloped countries
C. Any country that will follow the rules
D. none of these
Answer – C
4. The organization which is established to protect the interests of all business, trade and industries is called?
A. trade union
B. Board of Trade
C. trade union
D. none of these
Answer – B
5. What is true regarding seller's rights?
A. Right to receive payment for goods in case of non-payment of goods
B. Right to rescind the contract
C.both of the above
D. none of these
Answer – A
6. Who is correct regarding the rights of the buyer?
A. Right of the buyer to take delivery of the goods
B. The buyer is not entitled to take delivery of the goods
C.both of the above
D. none of these
Answer – A
7. What is the correct answer regarding warranty?
A. A person liable for breach of warranty can be prosecuted
B. Damages are recoverable from the breach of warranty
C.both of the above
D. none of these
Answer – B
8. Which of the following condition is correct?
A. On breaking the condition, the other party can sue the person who broke the condition.
B. The person who breaks the condition cannot be prosecuted
C. Can be done according to your requirement
D. none of these
Answer – A
9. What is the purpose of packing?
A. enhance the beauty of the goods
B. selling in bulk
C. To protect the goods from wear and tear
D. none of these
Answer – C
10. What is the purpose of cash discount?
A. Increase in sales volume
B. Receive sales amount in cash
C. Selling the goods at a cheaper price
D. none of these
Answer – B
11. Who is correct regarding seller's right?
A. The buyer has the right to take delivery of the goods
B. The buyer is not entitled to take delivery of the goods
C. none of these
D. First is correct
Answer – A
12. What is the purpose of trade discount?
A. Increase in sales volume
B. Receive the sale proceeds in cash
C. Selling the goods at a cheaper price
D. none of these
Answer – A
13. By whom is the Sales Account sent?
A. Buyer
B.seller
C.agent
D. none of these
Answer – C
14. Which company should have at least 7 members?
A.Private Company
B. public company
C.Retailer
D.Wholesaler
Answer – B
15. Which companies can invite the public to sell their shares?
A. public company
B.Private company
C. local market
D. all of these
Answer – A
16. Is buying and selling done in the stock exchange?
A. Equity share
B. preference share
C. debenture
D. old securities
Answer – D
17. Can be traded in stock exchange?
A. through an employer
B. by a member of the stock exchange
C. by the central government
D. By Bank
Answer – B
18. Are transactions done in the stock exchange?
A. All securities of the company
B. risk free securities
C. only listed securities
D. none of these
Answer – C
19. Application for listing of securities is made?
A. in the stock exchange
B. In the office of SEBI
C. To the Registrar of Companies
D. none of these
Answer – D
20. Which of the following sentences is incorrect?
A. Smuggling is business
B. Commerce and industry is not involved in business
C. bank robbery is a business
D. all wrong
Answer – D
21. Are essential for business success?
A. intense competition
B. change in demand
C.Adequate capital
D. none of these
Answer – C
22. Which of the following qualities are necessary for a businessman to be successful in any business?
A. characterlessness
B. jealous
C. hard working
D. none of these
Answer – A
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