Business and Commerce mcqs

✅ The correct answer is A.
Planning is basis of control. Planning and controlling are closely related to each other. After a plan becomes operational, control is necessary to measure progress, to uncover deviations from the targets and to take corrective steps.

✅ The correct answer is C.
Partnership may come into existence by an express or implied agreement only.

✅ The correct answer is A.
Equity shareholders are the real owners of the company. Equity shares represent the ownership of a company and capital raised by the issue of such shares is known as ownership capital or owner’s funds. They are the foundation for the creation of a company.

✅ The correct answer is A.
Group Layout based on similarity of work. Group layout is a kind of layout where persons doing similar activities or machines doing similar operations are grouped together.

✅ The correct answer is A.
Stock means a fraction of the capital of a company. A single share of the stock represents fractional ownership of the corporation in proportion to the total number of shares.

✅ The correct answer is B.
The transitional period in the life of an expanding firm is called ideal firm.

✅ The correct answer is D.
Chronological classification is based on date and time order. Chronological order is listing, describing, or discussing when events happened as they relate to time.

✅ The correct answer is D.
Memory unit performs the function of storing the data. This unit can store instructions, data, and intermediate results. This unit supplies information to other units of the computer when needed. It is also known as internal storage unit or the main memory or the primary storage or Random Access Memory (RAM).

✅ The correct answer is C.
Strip index system is used when small information is required about customers. Strip indexing is a rarer form of indexing. Visualize a set of small strips on card stock, placed so each is visible. The strip index can hang up on a wall.

✅ The correct answer is A.
Register of member is a statutory book. The statutory books of the company must be maintained and kept at the company’s registered office (or an alternative location notified to Companies House) where they can be inspected.