Admission Tests: Commerce MCQs (Practice Test 91 of 99)

  1. Prospectus issued by a company is to be vetted arid approved by the SEBI. This, however, does not mean that

    1. Disclosures are adequate as per its. Guidelines

    2. project proposal has been presented in conformity with its guidelines

    3. Disclosures are adequate to take an informed decision investors

    4. project proposal is sound or satisfactory

  2. Commercial papers represent a new financial instrument issued for the purpose of

    1. Project financing

    2. working capital

    3. leasing of plant and equipment

    4. import of capital goods

  3. Match List I (landmark case) with List II (the legal point established by that case) and select the correct answer:

    List-I List-II
    1. Solomon Vs Solomon

    2. Ewing Vs Butier

    3. Asbury Rail Carriage

    4. Royal British Bank

    1. The scope and limits of the Objects Clause

    2. Company should not be Cup Margarine registered with a name Co. Ltd. Which resembles the name of an existing company

    3. Company is a distinct entity, different from its members & Iron Co. Vs Ritchie

    4. Limitation to the Doctrine of constructive notice Vs Turquand

    5. Doctrine of Indoor Management

    • A
    • B
    • C
    • D
      • 2
      • 3
      • 1
      • 4
      • 3
      • 2
      • 4
      • 5
      • 3
      • 2
      • 1
      • 4
      • 2
      • 3
      • 4
      • 5
  4. Which of the following pairs are correctly matched?

      • Cooperative movement
      • Nanavathi in India is breast-fed, Committee bottle-fed and spoon-fed
      • Tax on sole proprietor
      • Direct Taxes Enquiry Committee and partnership firms needs rationalization
      • Capital market in India
      • Narasimham Committee is tightly controlled by the Government

    Of these statements which are correct?

    1. 1, 2 and 3

    2. 1 and 3

    3. 2 and 3

    4. 1 and 2

  5. Does modernization of industrial enterprises call for mechanization?

    1. Yes, because manual labors alone cannot deliver the goods.

    2. Yes, because mechanization holds the key to industrial success in most developing countries

    3. No. Because it is rationalization and not mechanization that holds the key to modernization and higher productivity in the industrial sector

    4. No. Because mechanization will aggravate the unemployment situation in the country and will ultimately result in the collapse of the economy

  6. A Red clause letter of credit authorizes the

    1. banker to transfer the L/C to some other person

    2. Banker to take recourse to the drawer in case of default

    3. banker to fix the amount of credit

    4. Negotiating banker to provide advance credit to the beneficiary for purchase of materials

  7. Which of the following pairs are correctly matched?

      • Cash Compensatory Scheme
      • It is allowed in a selective basis for compensating the exporters for the elements of unrefined taxes and duties paid on the imports required for the manufacture of goods exported.
      • Inland container depots
      • Confer all the facilities of dry ports and facilitate the movement of exports.
      • Duty Drawback Scheme
      • The exporters are allowed reimbursement of customs and central excise duties paid on raw materials components and packaging.

    Select the correct answer using the codes given below:

    1. 1 and 3

    2. 1, 2 and 3

    3. 1 and 2

    4. 2 and 3

  8. Which one of the following is NOT the primary cause of India's chronic balance of payments problem?

    1. Value of imports not matched by value of exports

    2. Deficits in merchandise trade

    3. Membership of WTO

    4. POL imports

  9. The following steps are normally taken in an import trade:

    1. Indent and letter of credit

    2. Ship's report

    3. Delivery and customs formalities

    4. Exchange and Bill of Exchange

    The correct sequence of these steps is:

    1. 1, 4, 2, 3

    2. 4, 1, 2, 3

    3. 4, 1, 3, 2

    4. 1, 4, 3, 2

  10. Match List I with List II and select the correct answer:

    List-I List-II
    1. LUT

    2. EPZ

    3. EpCG scheme

    4. Value Addition

    1. DGFT

    2. Export promotion

    3. 100 % Exports

    4. 100% EOU

    • A
    • B
    • C
    • D
      • 1
      • 3
      • 2
      • 4
      • 3
      • 2
      • 1
      • 4
      • 1
      • 4
      • 3
      • 2
      • 2
      • 4
      • 1
      • 3
  11. Globalization of financial services is being promoted by

    1. World Trade Organization

    2. International Finance Corporation

    3. International Bank for Reconstruction and Development

    4. International Monetary Fund

  12. Which of the following pair's is/are correct:

    1. Presence of insurance at the time of taking the interest in life policy and at the time of making the claim

    2. Presence of insurable At the time of loss but may interest in a fire policy not be required at the time of taking the policy

    3. Presence of insurable at the time of taking the policy interest in marine policy and also at the time of loss

      1. 1 and 2

      2. 2 alone

      3. 2 and 3

      4. 3 alone

  13. Which one of the following generalizations can be drawn from the Principle of Subrogation?

    1. It is the principle by which the insurer, after having paid the loss to the insured, step into the shoes of the insured person and acquires all rights and remedies as the insured would have enjoyed regarding the said loss

    2. A person who keeps a stock of inflammable material in his premises must mention the fact while taking out a fire policy

    3. The insured can get only the compensation against ac-tulles and he can't make profit out of insurance.

    4. In marine insurance the immediate cause arid not the Remote cause shall be considered for bearing the loss

  14. A clause included in the marine policy which covers all losses due to willful misconduct of the master or re of the ship to the prejudice of the insured is called

    1. Jettison

    2. waiver

    3. Preventive penalty

    4. barratry

  15. Which one of the following is the first industrial organization to have conducted social audit of its performance?

    1. Associated Cement, Companies

    2. Reliance Industries Limited

    3. Bharat Heavy Electricals Limited

    4. rata Iron & Steel

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