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Commerce Questions and Answers – Short GK Questions
1. Name the term which is concerned with the activities involved in the sale, transfer or exchange of goods and services:
Answer: Commerce.
2. Which is the oldest form of business organization?
Answer: Sole proprietorship.
3. Which is the form of organization wherein persons voluntarily associate together on a human being on the basis of equality for the economic interest?
Answer: Co-operative.
4. Name the incorporated association which is an artificial person created by law having a common seal and perpetual succession:
Answer: Joint Stock Company.
5. Name the term which indicates “No state intervention”:
Answer: Laissez-faire.
6. When enterprises are owned, controlled and managed by the state on behalf of the people they are called?
Answer: State enterprises.
7. Which document is known as company’s charter?
Answer: Memorandum of Association.
8. Which document shows the relationship of internal management?
Answer: Articles of Association.
9. Name the booklet issued by a company to the public explaining the prospects of the company:
Answer: Prospectus.
10. What do you mean by ‘SWOT’ in business?
Answer: S- Strength, W- Weaknesses, O- Opportunities, T- Threats in business.
11. Which exchanges are organized markets for corporate securities?
Answer: Stock.
12. What is the abbreviation ‘OTCEI’ stands for?
Answer: Over the Counter Exchange of India.
13. What do you mean by the term ‘SEBI’?
Answer: Securities Exchange Board of India.
14. Which Exchange is called a barometer of financial health of a country?
Answer: Stock.
15. Who are the members of a Stock Exchange?
Answer: Brokers and Jobbers.
16. Who are the operators in a Stock Exchange?
Answer: Bulls, Bears, Stags and Lame duck.
17. What is the name given to the share which carry a preference both regarding to dividend and the return of capital?
Answer: Preference share.
18. What makes the readiness to co-operate warmly in the tasks and purposes of a given organization?
Answer: Morale.
19. Who classified the psychological needs of man?
Answer: Abraham Maslow.
20. Name the term which effect transfer in ownership of goods and cause for their physical distribution:
Answer: Marketing.
