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11th Standard Commerce English Medium Free Online Test One Mark Questions with Answer Key 2020 - 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. There should be a systematic body of knowledge in ...............

    (a)

    Employment

    (b)

    Profession

    (c)

    Trade

    (d)

    Business

  2. A major disadvantage of sole proprietorship is __________.

    (a)

    Limited liability

    (b)

    Unlimited liability

    (c)

    Easy Formation

    (d)

    Quick decision

  3. ___________ is governed by the Indian Partnership Act.

    (a)

    Partnership Firm

    (b)

    Sole trader ship

    (c)

    Joint Hindu Family

    (d)

    None of these

  4. A private limited company can be incorporated with _____ persons.

    (a)

    Two

    (b)

    Seven

    (c)

    Ten

    (d)

    Twenty

  5. A Company under outsourcing transfers activities which are _____________

    (a)

    Core

    (b)

    Non-core

    (c)

    Business

    (d)

    Non-Business

  6. The term official capital includes.

    (a)

    RBI holdings of foreign currencies

    (b)

    Special drawing rights held by the Government

    (c)

    Both A and B

    (d)

    Foreign Investment

  7. Balance of trade of a country may either be ..............

    (a)

    favourable

    (b)

    unfavourable

    (c)

    both (a) or (b)

    (d)

    none of these

  8. A contract creates

    (a)

    rights in person

    (b)

    rights in parties

    (c)

    no obligations

    (d)

    only obligations and no rights

  9. Promise which form consideration or part of consideration for each other are called as

    (a)

    Joint promise

    (b)

    Reciprocal promise

    (c)

    Devolution of Joint liabilities

    (d)

    Devolution of Joint Rights

  10. The time of limitation for enforcement of contractual rights is ______________

    (a)

    2 years

    (b)

    3 years

    (c)

    4 years

    (d)

    5 years

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