One Mark Important Question Paper

11th Standard

    Reg.No. :
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Commerce

Time : 01:00:00 Hrs
Total Marks : 50
    Answer ALL Questions
    50 x 1 = 50
  1. The place where the goods are sold is ______________

    (a)

    Angadi

    (b)

    Market

    (c)

    Nalangadi

    (d)

    Allangadi

  2. Warehouse removes the hindrance of ______________

    (a)

    personal

    (b)

    time

    (c)

    place

    (d)

    risk

  3. ____________ should be a systematic body of knowledge.

    (a)

    Employment

    (b)

    profession

    (c)

    Business

    (d)

    None of these

  4. The industries engaged in extraction of iron ore are known as

    (a)

    Construction Industries

    (b)

    Manufacturing Industries

    (c)

    Extraction Industries

    (d)

    Genetic Industries

  5. Manufacturing industries may be categorized into_____

    (a)

    Two

    (b)

    Three

    (c)

    Four

    (d)

    Ten

  6. A major disadvantage of sole proprietorship is __________.

    (a)

    Limited liability

    (b)

    Unlimited liability

    (c)

    Easy Formation

    (d)

    Quick decision

  7. A sole trader ___________

    (a)

    cannot keep his business secrets

    (b)

    can keep his business secrets

    (c)

    both

    (d)

    none of the above

  8. ______________is known as individual entrepreneurship.

    (a)

    Partnership

    (b)

    Sole trader

    (c)

    Joint stock company

    (d)

    Co-operative

  9. Registration of partnership is _________

    (a)

    compulsory

    (b)

    optional

    (c)

    not necessary

    (d)

    none of the above

  10. When his business assets are not sufficient to pay off the business debts, he has to pay from his personal property.

    (a)

    Unlimited Liability

    (b)

    Flexibility

    (c)

    Small capital

    (d)

    Limited Liability

  11. The Board of directors of a company is elected by _________

    (a)

    Creditors

    (b)

    Debtors

    (c)

    Debenture holders

    (d)

    Share holders (members)

  12. The maximum number of members in a private limited company is___________________  

    (a)

    25

    (b)

    50

    (c)

    100

    (d)

    200

  13. The Co-operative society utilises transfers ____________ percent of profit to Reserve fund.

    (a)

    9%

    (b)

    10%

    (c)

    14%

    (d)

    25%

  14. Centralised control in MNC's implies control exercised by

    (a)

    Branches

    (b)

    Subsidiaries

    (c)

    Headquarters

    (d)

    Parliament

  15. The primary objective of the state enterprises is to --------------

    (a)

    Earn profit

    (b)

    Provide Employment

    (c)

    Serve the People

    (d)

    All the Above

  16. ____________ form of organisation is necessary for public utility services.

    (a)

    Departmental organisation

    (b)

    Public Corporation

    (c)

    Government company

    (d)

    Partnership

  17. One rupee note and all coins are issued by the _____

    (a)

    Ministry of Finance

    (b)

    General Council

    (c)

    State legislature

    (d)

    None of these

  18. Banking Regulation Act, ___________.

    (a)

    1947

    (b)

    1949

    (c)

    1945

    (d)

    1946

  19. Foreign banks are begun their operation since

    (a)

    1978

    (b)

    1979

    (c)

    1980

    (d)

    1981

  20. MUDRA Bank is established for the development of ____________

    (a)

    Micro Industries

    (b)

    Small Industries

    (c)

    Medium Scale Industries

    (d)

    Large Scale Industries

  21. Minimum how much amount can be transferred through RTGS?

    (a)

    Any Amount

    (b)

    Rs. 50,000

    (c)

    Rs. 2 Lakhs

    (d)

    Rs. 5 Lakhs

  22. A customer can withdraw money through cheque at any branch of the bank throughout the world is.

    (a)

    Mobile Banking

    (b)

    CORE Banking

    (c)

    Electronic Clearing Services

    (d)

    All of them

  23. ___________ can be given as collateral security for getting financial assistance from bank.

    (a)

    Dock warrant

    (b)

    Warehouse Receipt

    (c)

    Dock Receipt

    (d)

    Warehouse warrant

  24. ___________ is a document acknowledging the receipt of goods by a carrier

    (a)

    Way bill

    (b)

    Consignment note

    (c)

    Charter

    (d)

    Bill of lading

  25. The liability of common carrier is governed by_________________

    (a)

    Carriers Act

    (b)

    Goods Act

    (c)

    Goods and Services Act

    (d)

    None of the above

  26. ___________ is not a type of general insurance.

    (a)

    Marine Insurance

    (b)

    Life Insurance

    (c)

    Fidelity Insurance

    (d)

    Fire Insurance

  27. Buying and Selling of goods through electronic network is known as___

    (a)

    E-commerce

    (b)

    Internet

    (c)

    Website

    (d)

    Trade

  28. The main benefit of outsourcing is

    (a)

    Productivity

    (b)

    Cost reduction

    (c)

    Skill

    (d)

    Units

  29. The individual who uses the trademark of the seller is known as____________________

    (a)

    Franchisee

    (b)

    Franchisor

    (c)

    Agent

    (d)

    Factor

  30. Assuming Social Responsibility of business helps the enterprise in ____

    (a)

    Increase Profit

    (b)

    Decrease Profit

    (c)

    Sustainability

    (d)

    Equilibrium

  31. Management of business enterprises is being_______________.

    (a)

    Professionalism

    (b)

    Law and order

    (c)

    Free enterprise

    (d)

    Public awareness

  32. The ethical conduct of employees leading to standard practices results in

    (a)

    Good behaviour

    (b)

     Bad behaviour

    (c)

     Ethical behaviour

    (d)

    Correct decision making

  33. Funds required for purchasing current assets is an example for_____

    (a)

    Fixed Capital requirement

    (b)

    Ploughing back of profit

    (c)

    Working capital requirement

    (d)

    Lease financing

  34. Depository receipts that are traded in an International market other than the United states are

    (a)

    Global depositary receipts

    (b)

    International Depositary receipts

    (c)

    Open market depositary receipts

    (d)

    Special Drawing Rights.

  35. If the local currency is in variable form and foreign currency is in fixed form quotation will be_____________

    (a)

    Indirect

    (b)

    direct

    (c)

    Local Form

    (d)

    Foreign form

  36. There are_______distinct modes of Credit to self help groups

    (a)

    1

    (b)

    2

    (c)

    3

    (d)

    4

  37. When goods are Imported for the purpose of Export is called as _____.

    (a)

    Foreign Trade

    (b)

    Home Trade

    (c)

    Entrepot Trade

    (d)

    Trade

  38. The aim of home trade is _____

    (a)

    To raise the standard of living

    (b)

    To provide the essential goods and services economically

    (c)

    To raise the National Income

    (d)

    To obtain all types of goods

  39. Wholesaler deals in ______ quantity of goods.

    (a)

    Small

    (b)

    Large

    (c)

    Medium

    (d)

    Limlited

  40. Incase of auction, if no sale can take place below the minimum price fixed by the seller, is know as ______

    (a)

    Reserve price

    (b)

    Knocked down price

    (c)

    Highest bidder price

    (d)

    None

  41. Small scale fixed retailers include

    (a)

    General stores

    (b)

    Pedlars

    (c)

    Cheap Jacks

    (d)

    Hawkers

  42. Suitable goods for Mail Order Business _______

    (a)

    Dairy product

    (b)

    Vegetables

    (c)

    Fruits

    (d)

    Watches

  43. Goods are imported for purpose of re-export to another country is termed as______

    (a)

    Import Trade

    (b)

    Export Trade

    (c)

    Entrepot Trade

    (d)

    International Trade

  44. An ___________ is a document prepared by the importer and sent to the exporter to buy the goods.

    (a)

    Invoice

    (b)

    Indent

    (c)

    Enquiry

    (d)

    Charter party

  45. The day to day administration of WTO is entrusted with

    (a)

    Executive Council

    (b)

    General Council

    (c)

    Administrative Council

    (d)

    General body

  46. Foreign Capital long-term loan and Foreign Currency reserve are recorded under

    (a)

    Official Capital

    (b)

    Private Capital

    (c)

    Banking Capital

    (d)

    Both private and official Capital

  47. Void agreement signifies

    (a)

    Agreement illegal in nature

    (b)

    Agreement not enforceable by law

    (c)

    Agreement violating legal procedure

    (d)

    Agreement against public policy

  48. Which of these parties cannot demand performance of promise?

    (a)

    Promisee

    (b)

    Any of the joint promisees

    (c)

    On the death of a promise, his legal representative

    (d)

    Stranger to the contract

  49. Discharge by Mutual Agreement may involve

    (a)

    Novation

    (b)

    Rescission

    (c)

    Alteration

    (d)

    All of the above

  50. GST stands for

    (a)

    Goods and Supply Tax

    (b)

    Government Sales tax

    (c)

    Goods and Services Tax

    (d)

    General Sales Tax

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