Business And Commerce - Practice Test

[#461] The first payment is made on the winding up of the company

(A) remuneration of the liquidator

(B) legal expenses

(C) preference creditors

(D) Expenses of winding up

Correct Answer

(C) preference creditors

[#462] Entrepot trade means:

(A) import trade

(B) export trade

(C) foreign trade

(D) goods imported for re-export

Correct Answer

(D) goods imported for re-export

[#463] Under which method of filling letters are kept standing:

(A) Vertical

(B) Horizontal

(C) Box

(D) Pigeon-Hole

Correct Answer

(A) Vertical

[#464] Right to vote for members in a co-operative organization is

(A) The number of shares purchased by them

(B) The ratio of the capital employed by them

(C) Equal voting right

(D) In proportion to the total amount supplied

Correct Answer

(C) Equal voting right

[#465] The minimum number of members for registration of a co-operative society is _________.

(A) two

(B) seven

(C) ten

(D) twenty

Correct Answer

(C) ten

Explanation

Solution: A minimum of ten members are required to form a cooperative society. The Co operative societies Act do not specify the maximum number of members for any co-operative society.

Business And Commerce - Study Mode

[#461] The first payment is made on the winding up of the company

Correct Answer

[#462] Entrepot trade means:

Correct Answer

[#463] Under which method of filling letters are kept standing:

Correct Answer

[#464] Right to vote for members in a co-operative organization is

Correct Answer

[#465] The minimum number of members for registration of a co-operative society is _________.

Correct Answer

Explanation