Question

 3. Chennai refineries Ltd. import crude oil and separates different products like petrol, diesel etc. Name the type of manufacturing industry. *

(a) Synthetical

(b) Analytical

(c) Processing

(d) Assembling

Q 8. Which of the following statement is not correct? *

(a) A company can refer Table A if it does not prepare its article of association.

(b) A private limited company can have maximum 200 members.

(c) A minor as a partner can inspect the books of the firm.

(d) One -Person Company is a company, which has one person as its member.

Q 4. Choose the odd one from the following Industries: *

(a) Floury culture

(b) Fish hatchery

(c)Cement manufacturing

(d) Poultry farming.

Q 1. An American firm ‘Zeb enterprises’ purchased handmade decorative pieces from India, re-packed and sold them in its own name to Germany. The above transactions represents: *

(a) Entrepot for Zeb Enterprises, Export for India, Import for Germany.

(b) Export for Zeb Enterprises, Import for India, Entrepot for Germany.

(c) Import for Zeb Enterprises , Entrepot for India , Export for Germany

(d) Import for Zeb Enterprises , Export for India , Entrepot for Germany

Q 5. It grew as major centre of textile industry and became popular for stunning gold silk cloth and sandalwood workmanship. *

(a) Broach

(b) Temralipti

(c) Varanasi

(d) Surat

Q 15. Application for approval of name of a company is to be made to which authority? *

(a) SEBI

(b) Government of India

(c) Registrar of the company

(d) State Government

Q 13. “Sharma Brothers is a firm formed for the construction of a shopping mall.” Name of this partnership is _______________. (FILL IN THE BLANK) *

Your answer

Q 20. Identify the activity which is not an auxiliary to trade *

(a) Insurance

(b) Mining

(c) Banking

(d) Warehousing

Q 19. Public sector enterprises( PSEs) consist of various organisations owned and managed by _____________. (FILL IN THE BLANK) *

Your answer

Q 7. Which of the following create form utility. *

(a) Industry

(b) Trade

(c) Commerce

(d) Business

Q 10. The ‘Concept of Separate legal Existence’ applies to *

(a) Sole Proprietorship

(b) Partnership

(c) Hindu Undivided family Business

(d) Cooperative society

Q 9. Transfer of ownership is easy in case of ___________ whereas it is difficult in case of _______________.

(a) Joint stock company, partnership

(b) Sole proprietorship, Joint stock company

(c) Sole proprietorship, partnership

(d) Partnership, Joint Stock Company.

Q 14. A and B are partners in a firm, C who is a friend of B accompanies A and B to a business meeting with Gupta Bros. (another firm - suppliers). C actively participates in the negotiation process for the business deal and gives the impression to Gupta Bros. that he is also a partner with A and B. Which type of partner is C: *

(a) Partner by estoppel

(b) Partner by holding out

(c) Active partner

(d) Secret partner.

Q 11. In a Cooperative society, the principle followed is ______________. (FILL IN THE BLANK) *

Your answer

Q 16. A Private company can commence its business just after ______________. ( FILL IN THE BLANK) *

Your answer

Q 17. Identify the false statement relating to Departmental Undertaking. *

(a) Funding is directly from Government.

(b) Employees are government servants.

(c) They have complete autonomy in decision- making.

(d) They are accountable to ministry.

Q 2. Sudden rise in the cost of operation is a cause related to which type of business risk? *

(a) Human Cause

(b) Technological Cause

(c) Natural cause

(d) Economic Cause

Q 12. What do you understand by the term ‘Unlimited liability? *

(a) The personal assets of owner can be sold, only to a limited extent.

(b) The personal assets of owner can be sold, according to the wish of the creditors.

(c) The personal assets of owner cannot be sold at all.

(d) The personal assets of owner can be sold when the assets of the business are not enough to meet the debts of the business.

Q 6. Earning profit is sole objective of business. *

(a )TRUE

(b )FALSE

Q 18. In which condition, Government company form of PSU is not suitable? *

(a) When high degree of public accountability is required.

(b) When flexibility of operations is required.

(c) When goods and services are to be provided at reasonable prices.

(d) When national security is concerned.

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Answer 1

Answer:

when taxability of operation is required when goods and services are to be provided at reason price when national security is connected concerned