Full Poriton - Important One Mark Question Paper

11th Standard

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Commerce

Time : 01:30:00 Hrs
Total Marks : 100

    Multiple Choice Question

    100 x 1 = 100
  1. Trade and Commerce was common to ____________ Dynasty.

    (a)

    Pallava

    (b)

    Chola

    (c)

    Pandiya

    (d)

    Chera

  2. Conunerce serves as a valuable link between the _____________ and the ___________.

    (a)

    producer, consumer

    (b)

    consumer, worker

    (c)

    producer, worker

    (d)

    consumer, manager

  3. Boats like _________ were used to cross rivers for domestic trade.

    (a)

    Fishings

    (b)

    Kalam

    (c)

    Marakalam

    (d)

    Thimil

  4. The following does not characterize business activity?

    (a)

    Production of goods and services

    (b)

    Presence of risk

    (c)

    Sale or exchange of goods and services

    (d)

    Salary or wages

  5. Which of the following is not characterized as economic activities?

    (a)

    Production of goods by manufacturer

    (b)

    Selling by retailers

    (c)

    Medical advice rendered by physician

    (d)

    Celebrating festivals

  6. __________ refers to the occupation in which people work for others and get remuneration in the form of wages or salaries.

    (a)

    Employment

    (b)

    Profession

    (c)

    Business

    (d)

    Industry

  7. Auxiliaries to trade is also called as

    (a)

    Trade

    (b)

    Advertisement

    (c)

    Warehousing

    (d)

    Aids to Trade

  8. Horticulture is an example for________________________

    (a)

    Primary industry

    (b)

    Secondary industry

    (c)

    Tertiary industry

    (d)

    Local industry

  9. Banking, factoring, accounting and insurance come under_____________________ type of service.

    (a)

    Mechanical

    (b)

    Financial

    (c)

    Personal

    (d)

    Quinary

  10. The structure in which there is separation of ownership and man agreement is called ______

    (a)

    Sole Proprietorship

    (b)

    Partnership

    (c)

    Company

    (d)

    All business organisation 

  11. A business run by an individual is known as__________business.

    (a)

    Sole Trader

    (b)

    Partnership

    (c)

    Company

    (d)

    Co-operatives

  12. "He receives all the profits and risks all of his property in the success or failure of the enterprise" was said by _______________.

    (a)

    Wheeler

    (b)

    J.L. Hansen

    (c)

    H.Haney

    (d)

    O.R. Krishnasamy

  13. A temporary partnership which is formed to complete a specific job doing a specified period of time is called ____________

    (a)

    Partnership-at-will

    (b)

    Particular partnership

    (c)

    Limited Partnership

    (d)

    Joint Venture

  14. A Partnership cannot engage in __________

    (a)

    large scale production

    (b)

    small scale production

    (c)

    foreign trade

    (d)

    smuggling goods

  15. A partner whose name is not disclosed to outsiders is known as _______

    (a)

    Dormant partner

    (b)

    Sub-partner

    (c)

    Secret partner

    (d)

    Minor partner

  16. Companies established as a result of a charter granted by the King or Queen of a country is called ____________

    (a)

    Chartered companies

    (b)

    Statutory companies

    (c)

    Registered companies

    (d)

    Foreign companies

  17. Which of the following documents define the scope of a Company's Activities?

    (a)

    Memorandum of Association

    (b)

    Articles of Association

    (c)

    Prospectus

    (d)

    Statutory Declaration

  18. The maximum number of members in a private company is______.

    (a)

    10

    (b)

    20

    (c)

    50

    (d)

    unlimited

  19. Consumers Co-operation was first successful in---------

    (a)

    England

    (b)

    USA

    (c)

    Swiss

    (d)

    India

  20. The warehouses in where the goods are temporarily stored for one or two days are known as ______________

    (a)

    Co-operative warehouses

    (b)

    Public warehouses

    (c)

    bonded warehouses

    (d)

    Distribution center warehouses

  21. The minimum number of members to start a cooperative is_____________________________

    (a)

    10

    (b)

    15

    (c)

    20

    (d)

    25

  22. Enterprises operating in several countries but managed from one country is termed as ----------

    (a)

    Government company

    (b)

    Multinational company

    (c)

    Private company

    (d)

    Joint Venture

  23. MNCs carry the advantages of technical development ---------- host countries

    (a)

    5

    (b)

    10

    (c)

    15

    (d)

    20

  24. MNC's own and manages business _________________ countries.

    (a)

    Two (or) more

    (b)

    Only one

    (c)

    In same

    (d)

    Only two

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

    (a)

    Earn profit

    (b)

    Provide Employment

    (c)

    Serve the People

    (d)

    All the Above

  26. The primary objective of the ________________ is to serve the people and help in creating an environment for industrial activity.

    (a)

    State enterprises

    (b)

    Private sector

    (c)

    Co-operatives

    (d)

    None of the above

  27. Public corporation are managed by ______________ nominated by the Government.

    (a)

    Board of directors

    (b)

    Company secretary

    (c)

    Shareholders

    (d)

    Manager

  28. _____ industry is specified as priority sector by the RBI.

    (a)

    Small Scale

    (b)

    Large Scale

    (c)

    Agricultural

    (d)

    Medium

  29. RBI is also called as_____Bank

    (a)

    World

    (b)

    Central

    (c)

    National

    (d)

    Banker's

  30. Banking Regulation Act, ___________.

    (a)

    1947

    (b)

    1949

    (c)

    1945

    (d)

    1946

  31. The Local Area Banks are promoting.

    (a)

    Rural Savings

    (b)

    Business Savings

    (c)

    Industrial development

    (d)

    Agricultural development

  32. State bank of India was established on 1st July

    (a)

    1949

    (b)

    1955

    (c)

    1956

    (d)

    1969

  33. In 2017, there were_______ scheduled foreign banks

    (a)

    42

    (b)

    24

    (c)

    84

    (d)

    48

  34. The largest commercial bank of India.

    (a)

    ICICI

    (b)

    SBI

    (c)

    PNB

    (d)

    RBI

  35. Overdraft facility is available for

    (a)

    Savings Bank Account

    (b)

    Fixed Deposit

    (c)

    Current Account

    (d)

    Recurring Deposit

  36. The secured credit facility given mostly to business institutions are known as______

    (a)

    Overdraft

    (b)

    Loan

    (c)

    Advances

    (d)

    Cash credit

  37. __________ warehouses are used for storing perishable goods like fruits, vegetables etc.

    (a)

    Bonded

    (b)

    Private

    (c)

    Cold storage

    (d)

    Co-operative

  38. NCDC is an example of ________ warehouse.

    (a)

    Private

    (b)

    Government

    (c)

    Public

    (d)

    Co-operative

  39. CWC was established in _________.

    (a)

    1964

    (b)

    1957

    (c)

    1956

  40. Transport removes the hindrance of

    (a)

    Time

    (b)

    Place

    (c)

    Personal

    (d)

    Knowledge

  41. If the Railway receipt is lost, the consignee obtains the goods by

    (a)

    Paying a Penalty

    (b)

    Obtaining a duplicate copy

    (c)

    Executing an indemnity bond

    (d)

    Report to the police

  42. Who is the inventor of steam engine?

    (a)

    James Watt

    (b)

    Haney

    (c)

    Wheeler

    (d)

    Thomas

  43. Which of the following is a type of marine insurance?

    (a)

    Money back

    (b)

    Mediclaim

    (c)

    Hull insurance

    (d)

    Corgo insurance

  44. Which of the following is covered under Life Assurance policy?

    (a)

    Annuity Policy

    (b)

    Health Policy

    (c)

    Freight Policy

    (d)

    Crop Policy

  45. When a ship is insured against any type of danger it is known as _________________

    (a)

    Cargo Insurance

    (b)

    Marine Insurance

    (c)

    Hull Insurance

    (d)

    Voyage Insurance

  46. A continuing relationship which provides license privileges to do a Business and provide Training, merchandising for a consideration is called _____.

    (a)

    Franchising

    (b)

    Factoring

    (c)

    Supply chain Management

    (d)

    Exchange

  47. Under which model Business concern sell directly to consumers

    (a)

    B2C

    (b)

    B2B

    (c)

    C2B

    (d)

    B2G

  48. 'Facere' means ________________

    (a)

    to make or do

    (b)

    to produce

    (c)

    to assemble

    (d)

    to receive

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

    (a)

    Increase Profit

    (b)

    Decrease Profit

    (c)

    Sustainability

    (d)

    Equilibrium

  50. The factors causing ethical behaviour in business are __________________

    (a)

    Government Law

    (b)

    Government Policies

    (c)

    Public Awareness

    (d)

    All of the above

  51. How many kinds of Social Relationship of business?

    (a)

    two

    (b)

    three

    (c)

    four

    (d)

    five

  52. The role of top management is to guide the entire organisation towards 

    (a)

    General Behaviour

    (b)

     Organisational behaviour

    (c)

     Ethical upright behaviour

    (d)

     Individual behaviour

  53. The Corporate governance structure of a company reflects the individual companies' ______________

    (a)

    Cultural and economic system

    (b)

    Legal and business system

    (c)

    Social and regulatory system

    (d)

    All of the above

  54. Ethics governs the_______________.

    (a)

    behaviour

    (b)

    ethos

    (c)

    life

    (d)

    payoffs

  55. Internal sources of Capital are those that are ____

    (a)

    generated through outsiders such as suppliers

    (b)

    generated through loans from commercial banks

    (c)

    generated through loans from commercial banks

    (d)

    generated within the business

  56. Under the lease agreement, the lessee gets the right to

    (a)

    Share profit earned by the lessor

    (b)

    Participate in the management of the organisation

    (c)

    Use the Asset for a specified period

    (d)

    Sell the Assets

  57. International saving Bank Congress declared World Savings Day on __________________

    (a)

    October 31

    (b)

    October 13

    (c)

    September 31

    (d)

    March 13

  58. __________bond is a special type of bond issued in the currency other than the home currency.

    (a)

    Government Bonds

    (b)

    Foreign Currency Convertible Bond

    (c)

    Corporate bonds

    (d)

    Investment Bonds

  59. The exchange rate is the _______________

    (a)

    Opportunity cost at which goods are produced domestically

    (b)

    Balance of trade ratio of one country to another.

    (c)

    Price of one country's currency expressed in terms of another country's currency.

    (d)

    Amount of currency that can be purchased with 1 ounce of gold.

  60. From ______________________ Foreign International Investors have been allowed to invest in all securities traded on the primary and secondary markets.

    (a)

    1992

    (b)

    1991

    (c)

    1995

    (d)

    1996

  61. Self help groups convert the savings into a common fund known as____

    (a)

    Common Fund

    (b)

    Groups corpus Fund

    (c)

    Group Fund

    (d)

    None of the above

  62. The process of manufacturing enterprises are specified in the first schedule to the

    (a)

    CA2013

    (b)

    MSMED 2006

    (c)

    IDRA 1951

    (d)

    PA 1932

  63. "Mahalir Thittam" project was launched during________________________

    (a)

    1997-98

    (b)

    1999-99

    (c)

    1999-2000

    (d)

    2000-2001

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

    (a)

    Foreign Trade

    (b)

    Home Trade

    (c)

    Entrepot Trade

    (d)

    Trade

  65. Home trade is classified into

    (a)

    Wholesale Trade

    (b)

    Retail Trade

    (c)

    Both (a) and (b)

    (d)

    None of these

  66. Trade transfers _____

    (a)

    Possessions of goods only

    (b)

    Ownership of goods only

    (c)

    Both (a) & (b)

    (d)

    None

  67. Trade middlemen who acts as a link wholesaler and customer refers to a

    (a)

    Producer

    (b)

    Broker

    (c)

    retailer

    (d)

    customer

  68. Mr. X is studying the potential for selling for his company's products in USA. As part of his analysis, he is assessing the number, types and availability of wholesalers and retailers. Mr. X is studying the country's______

    (a)

    Social and Cultural norms

    (b)

    Legal and political structure

    (c)

    Distribution channel structure

    (d)

    Technological study

  69. The person who guarantees to the principal regarding the collection of cash from credit sales is called as______________

    (a)

    Agent

    (b)

    Del-credere Agent

    (c)

    Factor

    (d)

    Commission Agent

  70. A number of identical retail shops situated at different localities int he city or in the different parts of the country is called

    (a)

    Consumer Co-operative store

    (b)

    Multiple Shop

    (c)

    Hire purchase System

    (d)

    Internet Shopping

  71. The risk of bad debts in this business is eliminated particularly when payment is received through VPP.

    (a)

    Departmental Store

    (b)

    Co-operative Store

    (c)

    Super Market

    (d)

    Mail order business

  72. Centralised purchasing and Decentralised selling is the feature of_________

    (a)

    Departmental Stores

    (b)

    Multiple Shops

    (c)

    Mail order Business

    (d)

    None

  73. Movement Of Goods, Services among the Countries

    (a)

    International Trade

    (b)

    International Business

    (c)

    Enterepot Trade

    (d)

    Internal Trade

  74. In due course __________ was replaced by ______ on 1st January 1995.

    (a)

    GATO, WTO

    (b)

    ETO, GATT

    (c)

    GATT, WTO

    (d)

    IMF, GATT

  75. Which of the following is not an Indian Multinational Company?

    (a)

    Unilever

    (b)

    Asian Paints

    (c)

    Wipro

    (d)

    Piramal

  76. EPC stands for

    (a)

    Export Processing Commission

    (b)

    Export Promotion Council

    (c)

    Export Carriage Council

    (d)

    Export Promotion Congress

  77. Which of the following institution provides insurance against various risks in international trade

    (a)

    Export Promotion Council

    (b)

    Export and Credit Guarantee Corporation

    (c)

    Commodity Board

    (d)

    State Trading Corporation

  78. Which one of the following is not a import trade procedure?

    (a)

    Obtaining foreign exchange

    (b)

    Obtaining certificate of origin

    (c)

    Obtaining letter of credit

    (d)

    Receipt of shipment advice

  79. General Agreement on Tariff and Trade was signed on

    (a)

    30-October-1947

    (b)

    29-October-1947

    (c)

    28-October-1947

    (d)

    26-October-1947

  80. The number of countries as members in IFC are ______

    (a)

    164

    (b)

    148

    (c)

    185

    (d)

    184

  81. SAARC has been established for promoting welfare of people of ______

    (a)

    America

    (b)

    Africa

    (c)

    Asia

    (d)

    Europe

  82. 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

  83. Balance of payment of a country includes:

    (a)

    Current account

    (b)

    Monetary account

    (c)

    Capital account

    (d)

    All of the above

  84. Balance of payments of a country has ______  parts.

    (a)

    2

    (b)

    3

    (c)

    4

    (d)

    5

  85. An Agreement enforceable by law is a

    (a)

    enforceable acceptance

    (b)

    accepted offer

    (c)

    approved promise

    (d)

    contract

  86. Which of the following law is base for the development of Indian contract Act 1872 ?

    (a)

    English Common Law

    (b)

    America Common Law

    (c)

    Austrilia Common Law

    (d)

    Europe Common Law

  87. The Contract Act came into force

    (a)

    from 1 September 1972.

    (b)

    before 1 September 1882

    (c)

    from 1 September 1872

    (d)

    after 1 September 1872

  88. Which of the following persons can perform the contract?

    (a)

    Promisor alone

    (b)

    Legal representatives of promisor

    (c)

    Agent of the promisor

    (d)

    All of these

  89. A promise to paint a picture for B. This contract will be performed by

    (a)

    Agent

    (b)

    Legal representative

    (c)

    Promisor by himself

    (d)

    Promisee by himself

  90. When the two promises are said to be performed simultaneously, they are said to be

    (a)

    Mutual and Independent

    (b)

    Mutual and dependen

    (c)

    Mutual and concurrent

    (d)

    Conditional and dependent

  91. Any agreement which becomes impossible to perform under various circumstances

    (a)

    Voidable

    (b)

    Void

    (c)

    Valid

    (d)

    None of these

  92. In case of breach of contract, which of the following remedies is not available to the aggrieved party?

    (a)

    suit for rescission

    (b)

    suit for damages

    (c)

    suit for specific performance

    (d)

    suit under Indian Penal Code

  93. Which of the following is the usual law remedy?

    (a)

    Injunction

    (b)

    Specific Performance

    (c)

    Damages

    (d)

    Penalty

  94. Income Tax is

    (a)

    a business tax

    (b)

    a direct tax

    (c)

    an indirect tax

    (d)

    none of these

  95. How many heads of income are there to compute Gross total income?

    (a)

    Six

    (b)

    Five

    (c)

    Four

    (d)

    Three

  96. Compensation received for loss of trading asset is a _______________

    (a)

    Capital receipt

    (b)

    Revenue receipt

    (c)

    a casual receipt

    (d)

    None of the above

  97. GST stands for

    (a)

    Goods and Supply Tax

    (b)

    Government Sales tax

    (c)

    Goods and Services Tax

    (d)

    General Sales Tax

  98. What is IGST?

    (a)

    Integrated Goods and Services Tax

    (b)

    Indian Goods and Services Tax

    (c)

    Initial Goods and Services Tax

    (d)

    All the Above

  99. GST is a _________ based tax on consumption of goods and services.

    (a)

    duration

    (b)

    destination

    (c)

    dividend

    (d)

    development

  100. India GST model. has _________ rate structure.

    (a)

    3

    (b)

    5

    (c)

    4

    (d)

    6

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