Business and Commerce mcqs

✅ ANSWER: B
Rochdale Society of Equitable Pioneers were the pioneers of the co-operative movement.

✅ ANSWER: C
Large scale firms enjoy economies of scale. A firm’s efficiency is affected by its size. Large firms are often more efficient than small ones because they can gain from economies of scale.

✅ ANSWER: A
A representative firm works under average conditions. Representative firm must be one which has had a fairly long life, and fair success, which is managed with normal ability, and which has normal access to the economies, external and internal, which belong to that aggregate volume of production; account being taken of the class of goods produced, the conditions of marketing them and the economic environment generally.

✅ ANSWER: A
The Consumers co-operative societies are started to help lower and middle class people. These societies protect the weaker sections from exploitation by profit hungry businessmen. The society makes bulk purchases directly from the producers and sells these goods to the members on retail basis.

✅ ANSWER: B
Book index is also called as Abound index. A book index is simply a key to locating information contained in a book. It is also known as back-of-the-book index, as it is mostly found at the end of the book. The words of the Index are sorted Alphabetically.

✅ ANSWER: B
Guarantee for employer for the loss out of employee’s dishonest is Fidelity insurance. A Fidelity Insurance policy covers losses sustained by the employer as a result of an act of forgery, fraud or dishonesty from an employee.

✅ ANSWER: B
Xerography is a process of blue printing. Xerography is standard copy machine technology using toner on bond paper. When large size xerography machines became available, c. 1975, they replaced the older printing methods.

✅ ANSWER: B
In case of product layout, production is carried on in special purpose machine. Since machines are arranged based on the sequence of operations, mechanized equipment such as conveyor belts can be used for transporting materials. This results in significant saving of time.