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Multiple choice questions of Subject Commerce Solved Entrepreneurship MCQ ( Entrepreneurship MCQ Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Entrepreneurship MCQ | Entrepreneurship Development MCQ Questions and Answers PDF

1. What is an entrepreneur?

(a) Someone who invests time and money to start a business

(b) Someone who makes a lot of money

(c) Someone who takes a risk to make a profit

(d) Both ‘a’ and ‘c

Ans. d

2. Entrepreneurs undertake

(a) calculated risk

(b) low risk

(c) high risk

(d) moderate and calculate risk both

Ans. c

3. Capital is

(a) money available to invest

(b) prohibitive cost of entry

(C) a guarantee that a company will be successful

(d) Both ‘a’ and ‘b’

Ans. a

4. Which of the following shows the process of creating something new?

(a) Business model

(c) Modelling

(b) Innovation

(d) Creative flexibility

Ans. b

5. In economics, which of the following is not a function of entrepreneur? 

(a) Risk-taking

(b) Innovation

(c) Day-to-day conduct of business

(d) None of the above

Ans. c

6. Which one of the following gives suggestions for new products and also helps to market new products?

(a) Existing products and services

(b) Federal government

(c) Distribution channels

(d) Consumers

Ans. c

7. Which of the following attitudes is not generally associated with successful entrepreneurship?

(a) Investing in R and D

(b) Live your business day by day

(c) Innovate and improvise continually

(d) Produce as per customers requirements

Ans. b

8. The entrepreneur was distinguished from capital provider in

(a) middle ages

(c) 18th century

(b) 17th century

(d) 19th and 20th century

Ans. c

Entrepreneurship Development MCQ Questions and Answers PDF | Entrepreneurship MCQ | Entrepreneurs are Motivated by MCQ

9. A person who managed large project was termed as the entrepreneur in the.

(a) sarliest period

(c) 17th century

(b) middle ages

(d) 19th and 20th century

Ans. b

10. What is the process by which individuals pursue opportunities without regard to resources they currently control?

(a) Start-up management

(c) Feasibility planning

(b) Financial analysis

(d) Entrepreneunhip

Ans. d

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Multiple choice questions of Subject Commerce Internal Auditor Is Appointed By MCQ ( Internal Auditor Is Appointed By MCQ Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Internal Auditor is Appointed by MCQ | Auditing is Compulsory for MCQ

1. Various types quality

(a) product

(c) management (system)

(b) process

(d) All of these

Ans. d

2. When the auditor is an employee of the organisation being audited (auditee), the audit is classified as quality audit.

(a) internal 

(b) external

(d) Both ‘a’ and ‘b’

(c) compliance

Ans. a

3. A blue print of the plan for conducting the audit work known as

(a) audit report

(b) audit prograrmme

(d) All of these

(c) audit notebook

Ans. b

4. In case of time constraint, audit is conducted through

(a) test checking

(c) balance sheet audit

(b) routine checking

(d) None of these

Ans. b

5. A .. .. has been assigned the role of secretarial auditor.

(a) chartered accountant

(b) company secretary

(c) cost and management analyst

(d) corporate lawyer

Ans. b

6. The most comprehensive type of audit is the system audit which examines suitability and effectiveness of the system as a whole.

(a) quantity

(c) preliminary

(b) quality

(d) sequential

Ans. b

7. Who is basically considered the custodian authority for audit working papers?

(a) Auditor

(c) Managing director

(b) Company secretary

(d) All of these

Ans. a

8. The sole purpose of conducting the audit is to

(a) tind out the traudand punish the person responsible fort

(b) prepare the book of aocounts authenticabe and true

(c) certify the fnancial postion of the concern

(d) None of the above

Ans. b

9. From the foillowing, which is not a method of obtaining audit evidencel

(a) Observation

(c) Computation

(b) inspection

(d) Accounting statistics

Ans. d

10. In practice, an internal auditor is appointed by the

(b) Board of Directors

(d) management

(a) shareholders

(c) Central Govemment

Ans. d

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Multiple choice questions of Subject Commerce Business Law MCQ Questions with Answers pdf ( Business Law MCQ Questions with Answers pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Business Law MCQ Questions with Answers pdf | Business Law Solved MCQs pdf

1. Harish makes the following statement while negotiating the sale of his car, “This is the sharpest car in the market”. His statement may support a claim for

(a) misrepresentation

(b) fraud

(c) fraud and misrepresentation

(d) None of the above

Ans. d

2. Ram and Shyam entered into a contract whereby Ram agreed to sell Shyam ? 1,000 worth of heroin, an illegal substance. This is an example of a

(a) quasi contract

(b) void contract

(c) voidable contract

(d) secondary party beneficiary contract

Ans. b

3. Which of the following is not a consumer?

(a) The insurance company

(b) A licensee to run a phone

(c) A lottery ticket holder

(d) All of these

Ans. d

4. Which of the following is not covered under Consumer Protection Act?

(a) Aircraft

(c) Electricity

(b) Buildings

(d) All of these

Ans. b

5. By taking out insurance cover, an individual

(a) reduces the certainty of major loss

(b) reduces the risk of an accident

(c) transfers the risk to someone else

(d) converts the possibility of large losses to certainty of a small loss

Ans. d

6. Quasi contracts are the type of….. contract.

(b) void

(d) None of these

(a) valid

(c) voidable

Ans. a

7. Who can accept the bill?

(a) The drawer of the bill

(b) A drawer in case of need

(c) An acceptor for honour

(d) All of the above

Ans. d

8. Which of the following statements about the Consumer Protection Act, 1987 is false?

(a) The Act came into force on 1st March, 1988 and applies to damage caused by defective goods circulated after that date

(b) The Act imposes liability on businesses and private individuals

(c) The Act places strict liability for defective products on a number of possible defendants

(d) Liability under the Act cannot be limited or excluded

Ans. b

9. The body of law which establishes rights between persons and provides for redress for violation of those rights is known as

(a) criminal law

(b) civil law

(c) the uniform commercial code

(d) stare decisis

Ans. b

10. In case of the sale of motor cycle, if defects are related to engine, what it will be called?

(b) Latent defects

(d) All of these

(a) Technical defects

(c) Patent defects

Ans. b

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Multiple choice questions of Subject Commerce MCQ Company Law Quiz Questions and Answers ( Company Law Quiz Questions and Answers ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Company Law Exam Questions and Answers PDF

1. Which companies are exempted to add ‘Ltd’ or ‘Pvt Ltd’ at the end of their name?

(a) Private

(c) Defunct

(b) Government

(d) Association not for profits

Ans. d

2. Under which Section, a private company can voluntarily converted into public company

(b) 44

(a) 34

(c) 54

(d) 64

Ans. b

3. In which one or of the following companies, a member does not have a right to appoint proxy?

(a) Public company having share capital

(b) Public company not having share capital

(c) Private company not having share capital

(d) None of the above

Ans. b

4. In case of non-profit making companies, notice of general meeting should be given within days.

(c) 21

(a) 14

(b) 15

(d) 22

Ans. a

5. A private company can freely converted into public company under which section?

(a) 44

(b) 56

(c) 33

(d) 34

Ans. a

6. Accepting of deposits from public in case of private company is

(a) prohibited

(c) acceptable

(b) restricted

(d) None of these

Ans. a

7. XYZ Company is having 10% share capital held by another public company and 35% held by Central Government and 55% held by people, then that company is

(a) government company

(C) public company

(b) private company

(d) None of these ‘

Ans. c

8. How many members should sign the MOA in case of private company?

(a) 1

(c) 3

(b) 2

(d) 4

Ans. b

9. Which of the following is/are not required to issue prospectus?

(a) Private company

(c) Sweat equity issue

(b) In case of right issue

(d) All of these

Ans. d

10. Which of the following book is generally not mandatory to be kept by a company?

(a) All receipts and expenditure of the company

(b) All sales and purchase of the company

(c) Details of numbers of units produced of each product

(d) Assets and Liabilities of the company

Ans. c

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Multiple choice questions of Subject Commerce Multiple Choice Questions on Industrial Policy | Five Year Plan MCQ pdf ( Multiple Choice Questions on Industrial Policy | Five Year Plan MCQ pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Multiple Choice Questions on Industrial Policy | Describe the industrial policy 1991 towards the public sector

1. Which one among the following Five Year Plans of Indian economy diversified the planning shifting focus from heavy and basic industries to new sunrise industries like telecommunication, computers, electronics?

(a) 2nd Five Year Plan

(b) 4th Five Year Plan

(d) 9th Five Year Plan

(c) 7th Five Year Plan

Ans. c

2. In which of the following industries, enterprise’s investment in plant and machinery is upto ? 25 lakh?

(a) Small-scale industries

(b) Ancillary industry

(c) Tiny enterprises

(d) Small-scale service enterprises

Ans. c

3. Statement I Exports from SEZ have grown more than 2000% from 2003-04 to 2010-11.

Statement II FDI is allowed in SEZ under automatic route.

Codes (a) Statement I is true but statement II is false

(b) Statement Il is true but statement I is false

(c) Both statements are true

(d) Both statements are false

Ans. a

4. What do you mean by DGTD?

(a) Director General of Trade Development

(b) Director General of Total Development

(c) Director General of Technical Development

(d) None of the above

Ans. c

5. Assertion (A) NIMZS are integrated industrial townships with world class social and physical infrastructure.

Reason (R) National Investments and Manufacturing Zones (NIMZS) will be established on lands which are degraded and uncultivable.

Codes (a) Both A and

(b) A is false but R is true

(c) Both A and R are true are false

(d) A is true but R is false

Ans. c

6. The national development council committee on backward areas was constituted in September

(a) 1963

(c) 1968

(b) 1964

(d) 1969

Ans. d

7. Which one of the following economists proposed the LPG model of economic development in India?

(a) Dr C Rangarajan

(b) Dr Montek Singh Ahluwalia

(c) Dr Amartya Sen

(d) Dr Manmohan Singh

Ans. d

8. In the context of India’s Five Year Plans, a shift in pattern of industrialisation with lower emphasis on the heavy industry and move on infrastructure begins in

(a) 4th Plan

(c) 8th Plan

(b) 6th Plan

(d) 10th Plan

Ans. b

9. The headquarter of ILO is at

(a) Washington

(c) The Hague

(b) Geneva

(d) Manila

Ans. b

10. Which one of following is not an immediate indicator of industrial sickness?

(a) Drop in profitability

(b) Labour unrest

(c) Shrinking of market credit

(d) Decline in market share

Ans. d

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Multiple choice questions of Subject Commerce MCQs Topic Foreign Trade of India MCQ pdf | International Trade ( Foreign Trade of India MCQ pdf | International Trade Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

Foreign Trade of India MCQ pdf | MCQ with answers on international trade for online test

1. Foreign Direct Investment (FDD) is investment directly into production in a country by a company Jocated in another country, then which one of the following modes is/are correct about the FDI?

(a) Buying a company in the target country

(b) Expanding operations of an existing business in that Country

(c) Investing in the shares and stocks of a company in the target country

(d) Both ‘a’ and ‘c

Ans. d

2. Which one of the following percentages is the share of the Indian Export in the International Trade?

(a) Less than 1%

(b) More than 1, but less than 3%

(c) More than 3, but less than 5%

(d) More than 5, but less than 7%

Ans. b

3. Foreign exchange and foreign currency in India are governed by

(a) SCRA Act

(c) FEMA Act

(b) Banking Regulation Act

(d) SEBI Act

Ans. c

4. Consider the following statements.

1. India has started the Duty Free Tariff Preference (DFTP) scheme with highly developed countries.

2. Under DFTP Scheme, the beneficiary countries have to submit to the Government of India letters of intent and details of officials authorised to issue the certificates of origin.

Which of the statements given above is/are correct?

(a) Only 1

(c) Both 1 and 2

(b) Only 2

(d) Neither 1 nor 2

Ans. b

5. With reference to Asian Development Bank, consider the following statements.

1. United States has the largest proportion of shares for the voting system.

2. China and India have the same percentage of shares for the voting system.

Which of the statements given above is/are correct?

(a) Only 1

(c) Both 1 and 2

(b) Only 2

(d) Neither 1 nor 2

Ans. d

6. In the context of the bilateral trade negotiation between India and European Commission and European Council

1. European Commission represents the EU in the trade negotiation whereas European Council participates in the legislation of matters pertaining to economic policies of the EU.

2. European Commission comprises the head of States Government of member countries whereas the European Council comprises the persons nominated the European Parliament.

Which of the statements given above is/are correct?

(a) Only 1

(c) Both 1 and 2

(b) Only 2

(d) Neither 1 nor 2

Ans. d

7. Both Foreign Direct Investment (FDI) and Foreign Institutional Investor (FII) are related to investment in country.

Which one of the following statements be represents an important difference between the two?

(a) Fil helps bring better management skills and technology while FDI brings only capital

(b) FIl helps in increasing capital availability in general, while FDI anly targets specific sectors

(c) FDI flows only into the secondary market, while FIl targets primary market

(d) FIl is considered to be more stable than FDI

Ans. b

8. Consider the following statements.

1. India-Japan Comprehensive Economic Partnership Agreement (CEPA) is the India’s third CEPA after Singapore and Korea.

2. India-Japan Comprehensive Economic Partnership Agreement (CEPA) is the India’s first with a developed country.

Which of the statements given above is/are correct?

(a) Only 1

(c) Both 1 and 2

(b) Only 2

(d) Neither 1 nor 2

Ans. a

9. With consider the following statements.

1. On an average, UAE has the high total trade share with India in the five years.

2. China has more total trade share with India than the United States in the five years. reference to India’s International Trade,

Which of the statements given above is/are correct?

(a) Only 1

(c) Both 1 and 2

(b) Only 2

(c) Neither 1 nor 2

Ans. c

10. Consider the following statements.

1. India’s Trade Policy Review (TPR) is carried out every four years.

2. WTO has a mechanism for regular review of the trade policies of member countries.

Which of the statements given above is/are correct?

(a) Only 1

(c) Both 1 and 2

(b) Only 2

(d) Neither 1 nor 2

Ans. c

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Multiple choice questions of Subject Commerce Money and Banking Class 12 MCQ ( Money and Banking Class 12 MCQ Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Money and Banking Multiple Choice Questions and Answers

1. Money supply is governed by

(a) planning commission

(c) finance ministry

(b) Central Bank

(d) commercial banks

Ans. b

2. If the demand for money is perfectly interest inelastie, the LM schedule will be

(a) upward sloping

(c) horizontal line

(b) downward sloping

(d) vertical line

Ans. d

3. The transaction version of the quantity theory of money was presented by Irving Fisher in the form of

(a) P= MV /T

(c) M= PV/T

(b) T=MV /P

(d) V= PT/M

Ans. a

4. Monetarist says

(a) an increase in the money supply is likely to lead to inflation

(b) a monetary stimulus is ineffective if firms costs of production also rises

(C) long-run aggregate supply curve is vertical at the level of natural rate of unemployment

(d) All of the above

Ans. d

5. Money kept for speculative motive is called

(a) active money

(c) near money

(b) passive money

(d) dear money

Ans. b

6. According to Keynes, with cash money. is the reward for parting

(a) profit

(c) interest

(b) rent

(d) None of these

Ans. c

7. If the demand for money depends on the interest rate, the velocity of circulation is

(a) constant and the quantity theory of money does hold

(b) not constant and the quantity theory of money does hold

(c) not constant and the quantity theory of money does not hold

(d) constant and quantity theory of money does not hold

Ans. c

8. Lower interest rates

(a) reduce business investment spending

(b) cause the aggregate demand curve to shift left

(c) encourage people to borrow more and often to spend more on housing

(d) None of the above

Ans. c

9. Unlike Fisher’s transaction equation, neo-classical monetary theory links prices to

(a) supply of money

(b) demand for money

(c) quantity of money in bank

(d) None of these

Ans. b

10. Which one of the following is not a function of money?

(a) Medium of exchange

(b) Means of barter

(c) Standard of deferred payment

(d) Store of value

Ans. b

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Multiple choice questions of Subject Commerce Solved MCQs of Macroeconomics pdf | Theory of Income, Employment, Inflation ( Solved MCQs of Macroeconomics pdf | Theory of Income, Employment, Inflation Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Solved MCQs of Macroeconomics pdf | Theory of Income, Employment, Inflation

1. Lower unemployment and lower inflation rates can best be achieved with a

(a) rightward shift of the Phillips curve

(b) rightward shift of the aggregate demand curve

(c) rightward shift of the aggregate supply curve

(d) leftward shift of the aggregate supply curve

Ans. c

2. Which of the following causes a decrease in unemployment and inflation at the same time?

(a) A rightward shift in the aggregate supply curve

(b) Wage increases equal productivity increases which reduces intlation

(c) A rightward shift in the aggregate demand curve

(d) All of the above

Ans. a

3. The Keynesian analysis of aggregate demand indicates that a decline in the price level causes

(a) a decline in the real money supply, an increase in interest rates, a decline in investment spending and a decline in aggregate output demanded

(b) a decline in the real money supply, a decline in interest rates, an increase in investment spending and an increase in aggregate output demanded

(c) an increase in the real money supply, a decline in interest rates, an increase in investment

(d) a decline in spending and an increase in aggregate output demanded

Ans. 

4. The aggregate supply curve is

(a) the total quantity of raw materials offered for sale at different prices

(b) the total quantity of final goods and services offered for sale at the current price level

(c) the total quantity of final goods and services offered for sale at different price levels

(d) the total quantity of intermediate and final goods and services offered for sale at different price levels

Ans. c

5. Which of the following will cause the Phillips curve to shift to the left?

(a) Eliminating price controls

(b) Regulating the economy

(c) Increasing the marginal tax rate on excess profit

(d) Job-search assistance

Ans. d

6. Keynesians contend that

(a) the self-correcting mechanism works slowly because wages are inflexible

(b) the aggregate supply curve does not move quickly to restore the economy to the natural rate of unemployment

(c) there is little need for active government policy to restore the economy to full employment when unemployment

(d) Both ‘a and ‘b’

Ans. d

7. A movement along the Phillips curve shows that the unemployment rate and inflation rate are

(a) inversely related to each other

(b) directly related to each other

(c) changing in response to shifts in aggregate supply

(d) changing in response to supply side policy

Ans. a

8. The total quantity of an economy’s final goods and services demanded at different price levels is

(a) the aggregate supply curve

(b) the aggregate demand curve

(c) the Phillips curve

(d) the aggregate expenditure function

Ans. b

9. Deficient demand causes

(a) deflation

(b) excess defiationary gap

(c) infiationary gap

(d) deflationary gap

Ans. d

10. According to monetarists, a decline in the money supply holding other factors constant shifts the aggregate……. curve to the …

(a) demand, right

(c) supply, right

(b) demand, left

(d) supply, left

Ans. b

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Multiple choice questions of Subject Commerce MCQs Topic Budget Related Questions and Answers pdf ( Budget Related Questions and Answers pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Budget Related Questions and Answers pdf | MCQ on Government Budget class

2. Which one of the following taxes is levied by the central but wholly assigned to the statest

(a) Personal income tax

(b) Excise on drugs and narcotic

(c) Railway passenger tax

(d) Gift tax

Ans. c

3. All the revenues received, loans raised and money received in repayment of loans by the Union Government go into

(a) Consolidated Fund of india

(b) Contingency Fund of India

(c) Public Account of India

(d) Prime Minister’s Relief Fund

Ans. a

4. Given a proportional income tax and a balanced budget, an autonomous increase in investment will increase the level of equilibrium income and the budget will

(a) still be in balance

(b) have a surplus

(d) the outcomne is uncertain

(c) have a deficit

Ans. a

5. The merit of zero based budgeting is that

(a) tax liability is reduced

(b) profits go up

(c) deficit financing becomes zero

(d) expenditure is rationalised

Ans. d

6. In India, constitutional requirement, according to.

(a) Article 112 preparing government budget is a

(b) Article 110

(d) Article 102

(c) Article 115

Ans. a

7. In the Indian context, deficit financing means

(a) an excess of goverriment’s revenue over expenditure

(b) an excess of government’s current expenditure over its current revenue

(c) an excess of government’s total expenditure over its total revenue

(d) None of the above

Ans. c

8. Indirect taxes are objectionable because they

(a) are hard to collect

(b) are regressive

(c) do not raise enough revenue

(d) are particularly hard on the rich

Ans. b

9. Arrange the following reports in chronological order.

1. Direct taxes enquiry committee’s final report.

2. Final report on rationalising and simplification of the tax structure,

3. Indian tax reforms report of a survey.

4. Taxation enquiry commission.

Codes (a) 4 321

(c) 3 142

(b) 1 234

(d) 2 314

Ans. a

10. When the rate of tax goes up with increase in income, it is c oft called

(a) proportional tax

(c) progressive tax

(b) regressive tax

(d) presumptive tax

Ans. c

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Multiple choice questions of Subject Commerce MCQ Questions with Answers pdf | Forms of Market pdf ( Commerce MCQ Questions with Answers pdf | Forms of Market pdf Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Forms of Market pdf | Commerce MCQ Questions with Answers pdf | E commerce MCQs

1. The AR curve and industry demand curve are same

(a) in case of monopoly

(b) in case of oligopoly

(c) in case of perfect competition

(d) None of the above

Ans. a

2. When the TR and STC curves are parallel, it shows the point where the monopolist reaches the

(a) best level of profit only

(b) best level of output

(c) best level of rivals price

(d) All of these

Ans. b

3. A cartel is most likely to occur in

(a) perfect competition as firms compete by reducing cost

(b) oligopoly as firms act together to raise prices to increase profits

(c) monopolistic competition where firms collude to increase profits

(d) oligopoly as firms compete to lower prices and increase their own profits

Ans. b

4. Bilateral monopoly refers to a market situation in which

(a) a single producer (monopolist) of a product faces a single buyer (monapsonist) of that product

(b) there is only one seller in the market

(c) there are two sellers in the market

(d) there are two buyers in the market

Ans. a

6. Which of the following statements is/are not correct?

1. Prices ratio goods among different uses and users.

2. Prices tend to force producers into low cost aperations, especially in competitive industries.

3. Prices tend to force producers into high cost operations, especially in competitive industries.

4. Prices reflect in competitive industries.

(a) 1 and 4

(c) Only 3

(b) Only 2

(d) Only 4

Ans. c

7. A price discriminating

(a) cannot offer discounts

(b) sells a larger quantity than it would if it was a single price monopoly

(c) cannot control the price of its product

(d) makes a smaller economic profit than it would if it was a single price monopoly

Ans. b

8. Pursuing a policy of price discrimination will increase the profits of a monopolist who sells in two sub markets

(a) only if he sells more than one product

(b) if the price elasticity of demand for his output differs in two markets

(c) if buyers in either sub market can easily resale his output to buyers in the other sub market

(d) only during the short-run when capital stock is fixed

Ans. b

9. In monopolistic competition, a firm can earn supernormal profits in the short-run but in the long-run, such profits disappear because

(a) it assumes that entry is free and new firms will enter the industry

(b) it assumes that exit is free and old firms will exit from the industry

(c) it assumes that the market is to be coniverted into monopoly due to cartel

(d) All of the above

Ans. a

10. If a monopolistically competitive seller can convince buyers that sold by rival firms, then his product is of better quality and value than products

(a) demand becomes more inelastic

(b) demand increases

(c) the firm gains more control over its prices

(d) All of the above

Ans. d

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