Business studies class XI Quiz-1

Due to which characteristic of business there is always a possibility of losses being incurred, despite the best efforts put into the business:

• Uncertainty of returns

• Production or procurement of goods and services

• Economic activity

• Profit earning

Statement-I Import trade refers to purchase of goods from one country for the purpose of selling them to another country. Statement-II Export trade refers to purchase of goods from one country for the purpose of selling them to another country. Choose the correct option from the options given below:

• Statement I is true and II is false

• Statement II is true and I is false

• Both the statements are true

• Both the statements are false

This type of cooperative society is set up with the aim of eliminating middlemen

• Producer‟s Cooperative Society

• Marketing Cooperative Society

• Consumer‟s Cooperative Society

• Farmer‟s Cooperative Society

Identify the type of retailer illustrated by the picture

• Departmental store

• Chain Stores

• Mail-order business

• Tele-shopping

Which of the following has the power of the government and the considerable amount of operating flexibility of private enterprises?

• Departmental Undertakings

• Statutory Corporations

• Government companies 1

• All of the above

Which of the following is true about statutory corporations?

• Statutory corporations are public enterprises that come into existence by a special act of the parliament

• Statutory corporations are subject to the same accounting and audit procedures as are applicable to government departments

• Statutory enterprises are funded directly by the government treasury

• The employees of statutory enterprises are civil servants

Which of the following is not applicable in a life insurance contract?

• Conditional contract

• Unilateral contract

• Indemnity contract

• None of the above

A firm using a network of computers for placing orders, monitoring production, delivery of goods and making payments to its supplier firm is an example of

• B 2 B commerce

• B 2 C commerce

• C 2 C commerce

• Intra-B commerce

Right to information about the products produced is the responsibility towards which interest group?

• Employees

• government

• consumer

• shareholders

e-bussiness does not include.?

• a business interaction with its supplier .

• a business interaction with its customer .

• Interaction among the various departments within the business.

• interaction among the geographically dispersed unit of the business.