Question

Q1. All the members of a company sitting in a general meeting were killed by a bomb. Which feature states
that the company will not be wound up?
(a) Artificial person
(b) Perpetual succession
(c) Separate legal entity
(d) Common seal
Q2. To which type of insurance is the principle of Indemnity not applicable?
(a) Marine insurance
(b) Fire insurance
(c) Life insurance
(d) Health insurance
Q3. This constituent of e-business includes a series of online activities involved in marketing of goods and
services
(a) B2B commerce
(b) B2C commerce
(c) C2C commerce
(d) Intra B commerce
Q4. Which of the following is not a type of general insurance?
(a) Fire insurance
(b) Marine insurance
(c) Health Insurance
(d) Life Insurance

OR

What is the minimum amount for an electronic transfer of funds in case of RTGS?
(a) Rs.10,000
(b) Rs.1,00,000
(c) Rs.20,000
(d) Rs.2,00,000
Q5. Where national security is concerned, which form of public enterprise is most suitable?
(a) MNC
(b) Statutory corporations
(c) Departmental undertakings
(d) Government company
General Instructions:
1) Answers to Q1-Q20 carry 1 mark.
2) Answers to Q21-Q24 carrying 3 marks should not exceed 60-80 words.
3) Answers to Q25-Q30 carrying 4 marks should not exceed 80 - 100 words.
4) Answers to Q31-Q34 carrying 6 marks should not exceed 150 - 200 words.
5) Attempt all parts of a question together.

Q6. A person gets his stock of goods insured, but he hides the fact that the electricity board has issued him
statutory warning letter to get his factory’s wiring changed later on, the factory catches fire due to short
circuit. State the principle of insurance being violated.
(a) Indemnity
(b) Contribution
(c) Utmost good faith
(d) Subrogation
Q7. Fixed Capital requirements of a manufacturing concern are:
(a) Same as that of a trading concern
(b) Are more than that of a trading concern
(c) Are less than that of a trading concern
(d) None of the above
Q8. Identify the type of middlemen who serve as a link between the manufacturers and the retailers
(a) Consumers
(b) Wholesalers
(c) Fixed shop retailers
(d) Itinerant retailers
Q9. Which facility of MOD account enables the account holder to earn more interest on the money?
(a) Auto sweep
(b) Sweep out
(c) Threshold limit
(d) Reverse sweep
Q10. The documents for registration for a company were filed on 21th February 2017. The Certificate of
Incorporation was issued on 29th February 2017 but the date mentioned on the Certificate of Incorporation
was 27th February 2017. From which date will the Company be considered to be in existence and the
contracts signed will be considered valid?
(a) 29th February2017
(b) None of the above
(c) 21st February 2017
(d) 27th February 2017
Q11. Which of the following cannot be classified as an objective of business?
(a) Productivity
(b) Investment
(c) Innovation
(d) Profit earning
Q12. Providing charitable contributions to educational institutions or helping the affected people during floods
or earth quakes. Which category of social responsibility covers this?
(a) Legal
(b) Ethical
(c) Economic
(d) Discretionary

Q13. Who are the creators of Producers Cooperative Societies?
(a) Producers
(b) Small producers
(c) Large producers
(d) Medium producers
Q14. Rules regarding internal management of a company is mentioned in the __________.
(a) Prospectus
(b) Memorandum of association
(c) Articles of association
(d) Certificate of incorporation
Q15. What reward an entrepreneur get for risk bearing in business?
(a) Salary
(b) Profit
(c) Interest
(d) Fees
Q16. The shares of government company are purchased in the name of Prime Minister of India. True/False?
Q17. Business risk is not likely to arise due to
(a) Changes in government policy
(b) Employee dishonesty
(c) Good management
(d) Power failure
Q18. This industry deals in products which involve successive stages for manufacturing finished products:
(a) Synthetical industry
(b) Assembling industry
(c) Processing industry
(d) Analytical industry

OR

Which of the following is not an example of non-economic activity?
(a) Patriotism
(b) Teaching
(c) Sentiment
(d) Sympathy
Q19. Carbon monoxide emitted by automobiles directly contributes to
(a) Water pollution
(b) Noise pollution
(c) Land pollution
(d) Air pollution
Q20. Aman wanted to sell his laptop but could not get any buyer. He posted its photos on Olx.com for sale
and found a buyer within 5 days. Identify the type of e-business.
(a) B2B
(b) B2C
(c) C2C
(d) Intra-B Commerce

Answer 1

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