Tag: organization of commerce and management

Questions Related to organization of commerce and management

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

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

  1. small scale enterprises

  2. public sector enterprises

  3. private sector enterprises

  4. large scale enterprises

Show answer
Correct Option: D
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.

What is corporate personality?

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

  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.

Show answer
Correct Option: C
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.

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

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

  1. Agree

  2. Disagree

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

  4. None of the above

Show answer
Correct Option: B
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.

Company secretary has duties under__________.

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

  1. Income tax Act.

  2. Companies Act.

  3. Indian stamp Act.

  4. All of the above.

Show answer
Correct Option: D
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

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 ____________________.

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

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

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

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

  4. (1) & (4)

Show answer
Correct Option: D

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

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

  1. Sole proprietorship

  2. Company

  3. Co-partnership

  4. Co-operative

Show answer
Correct Option: D

Insurance is based on the principle of ______________.

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

  1. Co-operation

  2. Democracy

  3. Equality

  4. Welfare

Show answer
Correct Option: A

Insurance and garage rent is _______.

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

  1. fixed charges

  2. maintenance charges

  3. operating charges

  4. running charges

Show answer
Correct Option: A

The general insurance corporation of India established under the ____________________.

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

  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

Show answer
Correct Option: C

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

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

  1. True

  2. False

Show answer
Correct Option: A
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.