Business and Commerce mcqs

✅ The correct answer is D.
Housing co-operative societies are helpful to their members in purchasing land and constructing houses. These societies are formed to provide residential houses to members. They purchase land, develop it and construct houses or flats and allot the same to members. Some societies also provide loans at low rate of interest to members to construct their own houses.

✅ The correct answer is B.
Planning and control are administrative functions of an office. Organizing the office on modem lines involves performing the management functions of planning, organizing, directing and controlling. In other words, the office work must be properly planned, organized and then executed according to the plan.

✅ The correct answer is B.
The Producers co-operative societies are established for the benefit of small producers. To protect the interest of small producers, these societies are set up. The co-operative society members may be farmers, landowners, owners of the fishing operations. To increase the marketing possibilities and production efficiency, producers decide to work together or as separate entities.

✅ The correct answer is C.
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.

✅ The correct answer is B.
Horizontal filing is also called as flat filing. The horizontal filing system is a modern type of filing where the documents or letters are chronologically placed in folders one upon another in a horizontal or flat position.

✅ The correct answer is C.
The difference between the actual price and excess price of a share is called as Premium. The share premium account represents the difference between the par value of the shares issued and the subscription or issue price. Share premium account may also be known as additional paid-in capital and can also be called paid-in capital in excess of par value.

✅ The correct answer is A.
Franking machine is used for stamping outward mail.

✅ The correct answer is A.
The optimum point is an Ideal size of a firm. The optimum firm refers to the best or ideal size of the firm. More specifically optimum or best firm is considered as one that has set up a plant with lowest possible cost and is also operating it at its lowest average cost point.

✅ The correct answer is B.
Preference shareholders does not have voting rights. Most preference shares have a fixed dividend, while common stocks generally do not. Preferred stock shareholders also typically do not hold any voting rights, but common shareholders usually do.

✅ The correct answer is A.
Life insurance in its present form came to India from The United Kingdom.