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11th Standard Commerce English Medium Free Online Test Book Back 1 Mark Questions with Answer Key - Part Three

11th Standard

    Reg.No. :
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Commerce

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Activities undertaken out of love and affection or with social service motive are termed as :

    (a)

    Economic activities

    (b)

    Monetary activities

    (c)

    Non-Economic activities

    (d)

    Financial Activities

  2. Commerce is mainly concerned with

    (a)

    Connecting producer and consumer

    (b)

    Pricing of goods

    (c)

    Buying and Selling of goods

    (d)

    Manufacturing of goods

  3. From the following which one is Non-corporate form of business?

    (a)

    Joint stock company

    (b)

    Sole trading business

    (c)

    Government company

    (d)

    Co-operatives

  4. Selling of Goods from home country to foreign country is called

    (a)

    Home Trade

    (b)

    Entrepot Trade

    (c)

    Foreign Trade

    (d)

    Joint-venture

  5. The Exporters appoint the _________ agent to fulfill the customs formalities

    (a)

    Clearing Agent

    (b)

    Forwarding Agent

    (c)

    Commission Agent

    (d)

    Factor

  6. Balance of payments surplus indicates

    (a)

    Exports are more than the Imports

    (b)

    Imports are more than Exports

    (c)

    Exports and Imports are at equilibrium

    (d)

    Exports and Imports are above equilibrium

  7. A contract with or by a minor is a

    (a)

    valid contract

    (b)

    void contract

    (c)

    voidable contract

    (d)

    voidable at the option of either party

  8. A person is said to be a third person if he is not a

    (a)

    Promisor

    (b)

    Promise

    (c)

    Agent

    (d)

    Legal representative

  9. Agricultural income earned in India is

    (a)

    Fully Taxable

    (b)

    Fully Exempted

    (c)

    Not considered for Income

    (d)

    None of the above

  10. In India GST became effective from?

    (a)

    1st April 2017

    (b)

    1st January 2017

    (c)

    1st July 2017

    (d)

    1st March 2017

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TN 11th Standard Commerce free Online practice tests

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