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Business, Trade and Commerce Test 8

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Business, Trade and Commerce Test 8
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Weekly Quiz Competition
  • Question 1
    1 / -0
    A __________ secretary is the oldest type of secretary.
    Solution
    A personal secretary is the oldest type of secretary as old as human civilization
  • Question 2
    1 / -0
    Select the correct option given below:
    Auditor is appointed in_______ .
    Solution
    After the incorporation of a company in its first annual general meeting an auditor must be appointed by the board of directors. The appointment of the first auditor must be completed by the board of directors within 30 days of incorporation. In case the directors fail to appoint an auditor the members must be informed. The members will then be required to appoint an auditor within 90 days at an extraordinary general meeting. 
  • Question 3
    1 / -0
    Registrar of Companies is appointed by _________.
    Solution
    The Central Government may appoint registrars as it considers necessary for the registration of companies and discharge of various functions under the Company Act, 2013 and the powers and duties may be exercisable as may be prescribed.
  • Question 4
    1 / -0
    Match the Groups :

    Group 'A'Group 'B'
    (i)Companies Act(a)has not more than 9 members
    (ii)The Companies (Amendment) Act, 1988(b)advises the Central Government
    (iii)Company Law Board(c)is appointed by Central Government
    (iv)Registrar of Companies(d)Independent Company Law Board
    (v)Advisory Committee(e)constitutes company law
    (f)appointed by state government
    Solution
    The correct matches of the groups are:
    Company Act - constitutes company law
    The companies ( Amendment Act , 1988)  - Independent Company Law Board
    Company Law Board - has not more than 9 members
    Registrar of company  - is appointed by central government
    Advisory committee - advises the central government
  • Question 5
    1 / -0
    ____________ is created to provide for the loss by way of fluctuation in the value of investment.
    Solution
    Investments made by a concern are subject to market fluctuations and thus, the value of an investment can any time decrease suddenly in the market. So, Investment fluctuation reserve is maintained to overcome any sudden loss incurred due to a sudden fall in the realisable value of investments.
  • Question 6
    1 / -0
    Match the following:
    AABB
    (1) Demand curve(1) Unlimited
    (2) Price determination(2) Downward sloping
    (3) No. of buyers and sellers(3) Inter play of market forces
    (4) Wants(4) Perfect competition
    Solution
    1) Demand curve is downward sloping from left to right because of the inverse relationship between the quantity demanded of a product and its on price.
    2)Price determination is a phenomenon where the equilibrium price is determined by the market mechanism,that is, inter play of market forces,namely demand and supply.
    3)Perfect competition is a situation where number of buyers and sellers are large.
    4)Human wants are unlimited but the resources are limited.
  • Question 7
    1 / -0
    Which of these is not excluded from transfer payment?
    Solution
    Transfer payment refers to those payments which yield zero production.Thus, retirement pension is included in transfer payment.
  • Question 8
    1 / -0
    Classical Economics refers to the work in Economics during ___________ century.
    Solution

    This question explains classical economist as :Classical economics is a broad term that refers to the dominant school of thought for economics in the 18th and 19th centuries. Most consider Scottish economist Adam Smith the progenitor of the classical economic theory. However, Spanish scholastics and French physiocrats made earlier contributions.

  • Question 9
    1 / -0
    Select the correct statement:
    Solution
    Diminishing marginal productivity theory states that while increasing one input and keeping other inputs at the same level may initially increase output, further increases in that input will have a limited effect and will eventually have no effect, or a negative effect, on output.
  • Question 10
    1 / -0
    It is uncommon in a business organization ________.
    Solution
    A business organization is a group of people who come together to carry out business to achieve objective. Every business works with some rules and regulations. They make the atmosphere of the business ethical. Hence, it is uncommon in a business organisation to have an unlawful purpose.
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