Business and Commerce mcqs

✅ The correct answer is C.
The Credit co-operative societies are formed to give financial help to small farmers and other poor sections of the society. These societies are formed to give financial help to small farmers and other poor sections to the society.

✅ The correct answer is A.
An office routine is a system. Routine is “a series of steps in performance of work, each step in the series being performed in the same order and in the same way every time.”

✅ The correct answer is C.
Common Seal is a substitute for a companys signature. Common Seal is the official signature of the company and each company shall have only one seal, on its incorporation. It is to be used in the manner prescribed in the Articles of Association and the Companies Act, 2013.

✅ The correct answer is D.
Decentralization of authority means departmentalizing activities. Departmentalization involves dividing an organization into different departments, which perform tasks according to the departments’ specializations in the organization. Departmentalization as a means of structuring an organization can be found in both public and private organizations.

✅ The correct answer is A.
The first organized stock exchange was set up in the year 1887. A number of stock brokers who geared up themselves, set up a voluntary organization in 1887.

✅ The correct answer is A.
Earning Goodwill is need for business ethics. Business ethics are required to protect the interest of employees, shareholders, competitors, dealers, suppliers, etc. It protects them from exploitation through unfair trade practices.

✅ The correct answer is A.
The method of evaluating the efficiency of workers is termed as merit rating. Merit Rating is also known as performance appraisal or performance evaluation. It is a systematic process for measuring the performance of the employees in terms of job requirements.

✅ The correct answer is A.
The return of shares to the company is known as Surrender of shares. Surrender of shares means the return of shares by the shareholder to the company for cancellation. Holder in this case voluntarily abandons all his shares in favour of the company.

✅ The correct answer is B.
The debentures are given a security on assets are called as Secured debentures. These are debentures that are secured against an asset/assets of the company. This means a charge is created on such an asset in case of default in repayment of such debentures.

✅ The correct answer is A.
A private company should have at least 2 members.