Business And Commerce - Practice Test

[#106] A small service enterprise is

(A) Where the appropriation exceeds Rs. 10 lakh but does not exceed Rs. 2 crore

(B) Where the appropriation exceeds Rs. 10 lakh but does not exceed Rs. 1 crore

(C) Where the appropriation is between Rs. 25 lakh to Rs. 1 crore

(D) Where the appropriation exceeds Rs. 1 crore but does not exceed Rs. 5 crore

Correct Answer

(A) Where the appropriation exceeds Rs. 10 lakh but does not exceed Rs. 2 crore

[#107] Staff function are those which . . . . . . . .

(A) Do not have direct responsibility for accomplishing the objectives of the organization

(B) Are secondary in character

(C) Are of advisory character

(D) All are correct

Correct Answer

(D) All are correct

[#108] Commercial risks covered by the Export, Credit and Guarantee Corporation of India do not include the risk caused by

(A) insolvency of the buyer

(B) war in the buyer's country

(C) buyer's failure to accept the goods

(D) buyer's protracted default to pay

Correct Answer

(B) war in the buyer's country

[#109] A private company:

(A) Can be converted into a public company by passing special resolution and changing articles

(B) Can be converted into a public company by obtaining consent of Central Government

(C) Can be converted into a public company by A and B both above

(D) Cannot be converted into a public company

(E) Prohibits the right to transfer shares

(F) Restricts the right to transfer debentures

(G) Restrict invitation to public for deposits

(H) Restrict the right to transfer shares

Correct Answer

(C) Can be converted into a public company by A and B both above
(H) Restrict the right to transfer shares

[#110] The importer cannot take delivery of goods unless he produces the

(A) Bill of sight

(B) Bill of lading

(C) Shipping bill

(D) Mate's receipt

Correct Answer

(B) Bill of lading

Business And Commerce - Study Mode

[#106] A small service enterprise is

Correct Answer

[#107] Staff function are those which . . . . . . . .

Correct Answer

[#108] Commercial risks covered by the Export, Credit and Guarantee Corporation of India do not include the risk caused by

Correct Answer

[#109] A private company:

Correct Answer

[#110] The importer cannot take delivery of goods unless he produces the

Correct Answer