Tag: organization of commerce and management

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Questions Related to organization of commerce and management

Multiple choice organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

Industries which require huge infrastructure, man power and have influx of capital assets are _________.

  1. small scale enterprises

  2. public sector enterprises

  3. private sector enterprises

  4. large scale enterprises
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Big business involves large-scale corporate-controlled financial or business activities. As a term, it describes activities that run from "huge transactions" to the more general "doing big things.

Multiple choice organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

What is corporate personality?

  1. Corporate personality means that the members in general meeting are regarded by the law as a person.

  2. Corporate personality means that the board of directors is regarded by the law as a person.

  3. Corporate personality means that the company as an entity is regarded by the law as a person.

  4. Corporate personality means that all of the companies within a corporate group are regarded by the law as one person.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Corporate personality is the fact stated by the law that a company is recognized as a legal entity distinct from its members. A company with such personality is an independent legal existence separate from its shareholders, directors, officers and creators. This is famously known as the veil of incorporation.

Multiple choice organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

Every company needs company secretary. So in the case of sec 25 companies the same is the case. Do you agree with this statement?

  1. Agree

  2. Disagree

  3. Sec. 25 companies are not companies so no need of company secretary

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Despite the name, the role is not clerical or secretarial.

Multiple choice organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

Company secretary has duties under__________.

  1. Income tax Act.

  2. Companies Act.

  3. Indian stamp Act.

  4. All of the above.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The company secretary has to follows the rules and check that the company complies with the law under :

  1. Income tax act
  2. Companies act
  3. Indian stamp act

Multiple choice organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

Which of the following are examples of "Producers Co-operative Society"?
(1) APPCO
(2) Kendriya Bhandar
(3) Apna Bazar
(4) Haryana Handloom
(5) Gujarat Co-operative Milk Marketing Fedration
(6) Employees' Housing Societies
The correct answer is ____________________.

  1. (1), (2), (3) & (6)

  2. (1), (3) & (5)

  3. (2), (4) & (6)

  4. (1) & (4)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

This is a duplicate of question 404899. The correct answer remains (1) & (4) - APPCO and Haryana Handloom. APPCO (Andhra Pradesh Pradesh Cooperative Marketing Society) is a producers' cooperative owned by farmers for agricultural marketing. Haryana Handloom is a producers' cooperative of weavers. The others represent different types: Kendriya Bhandar and Apna Bazar are consumer cooperatives, while the Gujarat federation is a secondary-level marketing organization.

Multiple choice organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

_____ is a voluntary association of persons who work together to promote their economic interest.

  1. Sole proprietorship

  2. Company

  3. Co-partnership

  4. Co-operative
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A cooperative is defined as a voluntary association of individuals who join together to achieve common economic goals through mutual help.

Multiple choice organization of commerce and management business risks and insurance meaning, importance and principles of insurance features and principles of insurance meaning and definition of insurance kinds of insurance re-insurance and double insurance risks in business - insurable and non-insurable

Insurance is based on the principle of ______________.

  1. Co-operation

  2. Democracy

  3. Equality

  4. Welfare
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Insurance operates on the principle of pooling risks among many people, which is a form of social co-operation to mitigate individual financial loss.

Multiple choice organization of commerce and management business risks and insurance meaning, importance and principles of insurance features and principles of insurance meaning and definition of insurance

Insurance and garage rent is _______.

  1. fixed charges

  2. maintenance charges

  3. operating charges

  4. running charges
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Insurance and garage rent are costs that do not change with the distance traveled or usage of the vehicle, making them fixed charges.

Multiple choice organization of commerce and management business risks and insurance meaning, importance and principles of insurance features and principles of insurance meaning and definition of insurance

The general insurance corporation of India established under the ____________________.

  1. Indian Companies Act,1956

  2. Banking Regulation Act,1949

  3. General Insurance Corporation of India Act,1972

  4. Life Insurance Corporation of India Act, 1956
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The General Insurance Corporation of India was established under the General Insurance Business (Nationalisation) Act, 1972.

Multiple choice organization of commerce and management business risks and insurance meaning, importance and principles of insurance features and principles of insurance meaning and definition of insurance

State the following statement is True or False:
Insurance is one of the important ancillary services. 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A. TRUE

Life is full of uncertainties and thus the chances of occurrence of an event causing losses are quite uncertain. There are risks of death and disability for human life; fire and burglary risk for property; perils of the sea for shipment of goods, etc. These causes a great loss to the people. Insurance thus spreads this risk over a number of persons who are exposed to it and compensates the people suffering from these losses. Thus, it is an important ancillary service.