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Business Studies M.C.Q (1 Marks)

Model Paper 3 · CBSE STD 11 Commerce (CBSE - English Medium). 20 questions.

Questions

M.C.Q (1 Marks)

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20 questions · timed · auto-graded

MCQ 11 Mark
Funding for Departmental Undertakings comes from which of the following sources:
  • A
    Debentures
  • B
    Shares
  • C
    Government Treasury
  • D
    Loans from Financial Institutions
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(c) Government Treasury
Explanation:
The funding of these enterprises come directly from the Government Treasury and are an annual appropriation from the budget of the government.
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MCQ 21 Mark
Which of the following is organised by individuals?
  • A
    Chemical Industry
  • B
    Cottage Industries
  • C
    Railway Industry
  • D
    Atomic industry
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(b) Cottage Industries
Explanation:
Cottage Industries are organised by individuals, with their private resources.
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MCQ 31 Mark
Since the main objective of the business is to earn profits, which of the following is not an appropriate method of earning profits:
  • A
    All of these
  • B
    Inflating the prices
  • C
    Selling a good quality product at reasonable prices
  • D
    Selling low-quality product at low prices
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(b) Inflating the prices
Explanation:
Inflating the prices may earn profit in the short run but it is not acceptable in the long run, as it is considered as malpractice.
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MCQ 41 Mark
State the full form of RWED:
  • A
    Rural and Women Experiential Development
  • B
    Rural and Women Employment Development
  • C
    Rural and Women Engagement Development
  • D
    Rural and Women Entrepreneurship Development
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(d) Rural and Women Entrepreneurship Development
Explanation:
RWED stands for Rural and Women Entrepreneurship Development.
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MCQ 51 Mark
Assertion(A): Current account is mostly suitable for business firms.
Reason(R): Holder can deposit or withdraw money as and when required.
  • A
    Both A and R are true and R is the correct explanation of A.
  • B
    Both A and R are true but R is not the correct explanation of A.
  • C
    A is true but R is false.
  • D
    A is false but R is true.
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(a) Both A and R are true and R is the correct explanation of A.
Explanation:
Since holders of current accounts can deposit or withdraw money as and when required, it is suited best for businesses.
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MCQ 61 Mark
Social responsibility is:
  • A
    same as a legal responsibility
  • B
    broader than legal responsibility
  • C
    Much lower than legal responsibility
  • D
    narrower than legal responsibility
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(b) broader than legal responsibility
Explanation:
Social responsibility is broader than the legal responsibility of business. It is a firm's recognition of social obligations even though not covered by the law, along with the obligations laid down by law.
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MCQ 71 Mark
Which of the following is an internal cause leading to sickness and closure of sick small business units?
  • A
    Lack of skilled and trained labour
  • B
    Delayed payment
  • C
    Lack of demand for their products
  • D
    Shortage of working capital
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(a) Lack of skilled and trained labour
Explanation:
Small business firms cannot afford to pay higher salaries to employees.
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MCQ 81 Mark
Who has the power to take decisions in a Co-operative society?
  • A
    Government
  • B
    Members of the Co-operative society
  • C
    Customers
  • D
    Elected managing committee
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(d) Elected managing committee
Explanation:
In a Cooperative Society, the power to take decisions lies in the hands of an elected managing committee.
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MCQ 91 Mark
The main objective of selling goods through consumer cooperative stores is to reduce the cost of the product by reducing the number of ________.
  • A
    Wholesalers
  • B
    Consumers
  • C
    Manufacturers
  • D
    Middlemen
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(d) Middlemen
Explanation:
Since the Middlemen are eliminated, the members get products of good quality at cheaper rates
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MCQ 101 Mark
To selling only children garments is the example of:
  • A
    General Store
  • B
    Single-product shop
  • C
    Single line shop
  • D
    Specific shop
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(b) Single-product shop
Explanation:
It is an example of Single-product shop.
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MCQ 111 Mark
Assertion (A): Partnership at will get terminated when any partner gives notice of withdrawal from partnership to the firm.
Reason (R): Partnership at will exists at the will of the partners i.e. continues as long as the partners want.
  • A
    Both A and R are true and R is the correct explanation of A.
  • B
    Both A and R are true but R is not the correct explanation of A.
  • C
    A is true but R is false.
  • D
    A is false but R is true.
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(a) Both A and R are true and R is the correct explanation of A.
Explanation:
Partnership at will continues till the partners want and comes to an end when any of the partner gives a notice of withdrawal from partnership.
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MCQ 121 Mark
Which of the following statements is incorrect regarding Inter Corporate Deposits (ICD)?
A. They are made by one company with another company.
B. Unsecured long term deposits.
C. The minimum period of ICDs is 7 days which can be extended to one year.
D. The interest rate on ICDs may remain fixed or may be floating.
  • A
    Only C
  • B
    Only D
  • C
    Only A
  • D
    Only B
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(d) Only B
Explanation:
Inter Corporate Deposits are unsecured short-term deposits made by a company with another company.
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MCQ 131 Mark
Expand NSIC:
  • A
    National Small Industries Centre
  • B
    National Small Indian Corporation
  • C
    National Small Industries Corporation
  • D
    National Small Business Industries Center
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(c) National Small Industries Corporation
Explanation:
National small industries corporation was set up in 1955 with a view to promote, aid, and foster the growth of small business units in the country.
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MCQ 141 Mark
Minimum number of members to form a private company is:
  • A
    2
  • B
    7
  • C
    5
  • D
    3
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(a) 2
Explanation:
Minimum number of members to form a private company is two.
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MCQ 151 Mark
An important C2C area of interactive commerce can be the formation of ________.
  • A
    consumers forum
  • B
    B2B commerce
  • C
    insurance
  • D
    banking
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(a) consumers forum
Explanation:
The business originates from the consumer and the ultimate destination is also consumers, thus the name C2C commerce. This type of commerce is best suited for dealing with goods for which there is no established market mechanism.
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MCQ 161 Mark
NSIC was set up in:
  • A
    1975
  • B
    1965
  • C
    1955
  • D
    1982
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(c) 1955
Explanation:
NSIC was set up in1955 with a view to promote, aid, and foster the growth of small business units in the country.
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MCQ 171 Mark
________ are agents who merely bring the buyer and the seller into contact.
  • A
    Commission agent
  • B
    Broker
  • C
    Stockist
  • D
    Selling agent
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(b) Broker
Explanation:
Brokers are agents who merely bring the buyer and the seller into contact. They execute the orders as per the buyer without physically involving the buyer in the transaction.
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MCQ 181 Mark
A Government Company may be formed as which of the following:
  • A
    Public Company
  • B
    Private Company
  • C
    Either Public or Private Company
  • D
    Neither Public nor Private Company
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(c) Either Public or Private Company
Explanation:
A government company may be formed as a private company or a public company
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MCQ 191 Mark
Expand SIDBI:
  • A
    Super Industrial Development Bank of India
  • B
    Small Indian Development Bank of India
  • C
    Small Industries Development Bank of India
  • D
    Society Industrial Development Bank of India
Answer
(c) Small Industries Development Bank of India
Explanation:
Small Industries Development Bank of India (SIDBI) is a wholly-owned subsidiary of IDBI.
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MCQ 201 Mark
In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee?
  • A
    Lease
  • B
    Joint venture
  • C
    Licensing
  • D
    Contract manufacturing
Answer
(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.
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M.C.Q (1 Marks) - Business Studies STD 11 Commerce Questions - Vidyadip