Commerce - MCQ Important Questions and Answers Part - 4

1. Henry Fayol is known for____

(A) Scientific Management 

(B) Rationalisation

(C) Industrial Psychology 

(D) Principles of Management

Answer: Principles of Management

2. Unity of command implies having not more than one____

(A) Subordinate 

(B) Friend

(C) Boss 

(D) Unit

Answer: Boss

3. ‘x’ and ‘y’ theory of Motivation has been propounded by____

(A) McGregor 

(B) Maslow

(C) Ouchi 

(D) Herzberg

Answer: McGregor 

4. Coordination has the following features____

(A) Continuous 

(B) Vertical organisation

(C) Horizontal relationship 

(D) All of the above

Answer: All of the above

5. Which one of the following is not a barrier in communication ?

(A) Noise 

(B) Affection

(C) Fear and distrust 

(D) Perception

Answer: Perception

6. A Company can reissue its forfeited shares_____

(A) At a premium 

(B) At a face value

(C) At a discount 

(D) All of the above

Answer: All of the above

7. Which of the following is an example of capital expenditure ?

(A) Insurance Premium 

(B) Taxes and Legal expenses

(C) Depreciation 

(D) Custom duty on import of machinery

Answer: Custom duty on import of machinery

8. Given :

Average profit of a firm Rs. 21,000

Normal Profit Rs. 18,000

Value of goodwill on the basis of 3 years purchases of super profit shall be_____

(A) Rs. 39,000 

(B) Rs. 9,000

(C) Rs. 3,000 

(D) Rs. 12,000

Answer: Rs. 9,000

9. A co-operative auditor starts his work of audit from–

(A) Account Books 

(B) Payment Books

(C) Cash Book 

(D) None of the above

Answer: Cash Book

10. Accounting for research and development relates to_____

(A) AS-7 

(B) AS-8

(C) AS-9 

(D) AS-10

Answer: AS-8

11. When does a body corporate become capable forthwith of exercising all the functions of a company ?

(A) On finalizing Memorandum of Association

(B) On obtaining certificate of commencement of business

(C) On obtaining certificate of incorporation

(D) On having convened its first Annual General Meeting

Answer: On obtaining certificate of incorporation

12. Pohang Steel Company (POSCO) is a company originally based in_____

(A) Vietnam 

(B) South Korea

(C) USA 

(D) Italy

Answer: South Korea

13. Which one of the following is not one of the elements of the 7S McKinsey Model for analyzing and improving organizational effectiveness ?

(A) Strategy 

(B) Structure

(C) Shared Values 

(D) Standard

Answer: Standard

14. Consider the following statements_____

1. Aggregate planning implies operational planning concerned with determining a firm's production requirements and manufacturing capacity.

2. Behaviour modification is a concept of motivation totally independent of rewards for the employees.

Which of the statements given above is/are correct ?

(A) 1 only 

(B) 2 only

(C) Both 1 and 2 

(D) Neither 1 nor 2

Answer: Both 1 and 2

15. What is the correct sequence of the following steps in a strategic planning process ?

1. Inputs 

2. Evaluation of alternatives

3. Execution 

4. SWOT analysis

Select the correct answer using the code given below____

(A) 1 - 4 - 2 – 3 

(B) 4 - 1 - 2 - 3

(C) 1 - 2 - 3 – 4 

(D) 4 - 1 - 3 - 2

Answer: 4 - 1 - 3 - 2

16. Which one among the following is not true for Special Economic Zones?

(A) No routine examination of cargo for export/import by customs authorities

(B) No licence is required for import

(C) Manufacturing and service activities are allowed

(D) No permission for subcontracting

Answer: No routine examination of cargo for export/import by customs authorities

17. Which one among the following industries produces the most nonbiodegradable wastes?

(A) Thermal power plants 

(B) Paper mills

(C) Food processing units 

(D) Textile mills

Answer: Thermal power plants 

18. Brent index is associated with_____

(A) shipping rate index 

(B) crude oil prices

(C) copper future prices 

(D) gold future prices

Answer: crude oil prices

19. Which one among the following is not true of the planning Commission?

(A) It indicates the factors which tend to retard economic development

(B) It is an advisory body and makes recommendations to the cabinet

(C) It is responsible for formulation of a plan for the most effective and balanced utilisation of the country's resources

(D) It is responsible for the execution of development programmes and plans

Answer: It indicates the factors which tend to retard economic development

20. Which one of the following statements about RBI is 'True'?

(A) RBI maintains the foreign exchange reserves of India

(B) RBI is the regulator of Banks and Securities market in India

(C) RBI started functioning from 1870

(D) None of these

Answer: RBI maintains the foreign exchange reserves of India 

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