10 Important MCQs for Commerce Students

1. Question: What does GDP stand for?

   • A) Gross Domestic Product
   • B) Gross Development Product
   • C) General Domestic Product
   • D) Great Development Product
   • Answer: A) Gross Domestic Product

2. Question: Which of the following is not included in the calculation of GDP?

   • A) Government spending
   • B) Exports
   • C) Transfer payments
   • D) Investment
   • Answer: C) Transfer payments

3. Question: Fiscal policy deals with:

   • A) Government spending and taxation
   • B) Foreign exchange rates
   • C) Monetary policy
   • D) Stock market regulations
   • Answer: A) Government spending and taxation

4. Question: Which regulatory body regulates the stock markets in India?

   • A) RBI (Reserve Bank of India)
   • B) SEBI (Securities and Exchange Board of India)
   • C) IRDAI (Insurance Regulatory and Development Authority of India)
   • D) CBDT (Central Board of Direct Taxes)
   • Answer: B) SEBI (Securities and Exchange Board of India)

5. Question: What is the main function of the WTO (World Trade Organization)?

   • A) Regulating global currencies
   • B) Promoting free trade and resolving trade disputes
   • C) Providing humanitarian aid
   • D) Setting international tax standards
   • Answer: B) Promoting free trade and resolving trade disputes

6. Question: Which technology is associated with blockchain?

   • A) Artificial Intelligence (AI)
   • B) Internet of Things (IoT)
   • C) Distributed ledger technology
   • D) Virtual Reality (VR)
   • Answer: C) Distributed ledger technology

7. Question: CSR (Corporate Social Responsibility) initiatives primarily focus on:

   • A) Maximizing shareholder profits
   • B) Improving employee benefits
   • C) Mitigating environmental impact and social welfare
   • D) Expanding market share
   • Answer: C) Mitigating environmental impact and social welfare

8. Question: Which section of the Income Tax Act allows deductions for investments like PPF and ELSS?

   • A) Section 80C
   • B) Section 80D
   • C) Section 80G
   • D) Section 80E
   • Answer: A) Section 80C

9. Question: What is the primary objective of the Insolvency and Bankruptcy Code (IBC)?

   • A) Promoting ease of doing business
   • B) Protecting consumer rights
   • C) Resolving insolvency and bankruptcy in a time-bound manner
   • D) Regulating financial markets
   • Answer: C) Resolving insolvency and bankruptcy in a time-bound manner

10. Question: Which industry has been significantly impacted by disruptive technologies like e-commerce and digital payments?

    • A) Agriculture
    • B) Healthcare
    • C) Retail
    • D) Education
    • Answer: C) Retail