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Commercial Studies

Total questions: 125

Worksheet time: 4hrs 10mins

Name
Class
Date
1.

Government company is registered under

a)

Companies Act 1956

b)

Corporation Act 1956

c)

State and legislature

2.

It is managed by

a)

Civil servants appointed by the government

b)

Board of Directors appointed by the Government and shareholders

c)

others

3.

The oldest form of organisation of public enterprises

a)

Statutory corporation

b)

Departmental undertakings

c)

Government company

d)

Multi- national corporation

4.

The paid up capital held by government in government company is not less than

a)

49%

b)

54%

c)

51%

d)

50%

5.

Which form of public enterprise is most suitable when national security is concerned?

a)

Departmental undertaking

b)

Statutory corporation

c)

Government company

d)

None of the above

6.

Public enterprises are owned by public

a)

True

b)

False

7.

In whose name the shares of the government company are purchased?

a)

President

b)

Prime minister

c)

General Comptroller Auditor

d)

Finance minister

8.

A government company enjoys maximum autonomy.

a)

True

b)

False

9.

Which of the following is true about statutory corporation?

a)

Statutory corporations are public enterprises which come into existence by a special act of parliament.

b)

Statutory corporations are subject to same accounting and audit rules as applicable to other government departments.

c)

Statutory corporations are funded directly by government treasury.

10.

A public enterprise deals in manufacturing of engineering goods and compete with private sector enterprises in order to achieve higher profits. It is a public sector enterprise in which government of India held 80% of paid up share capital and it is registered as per company act,1956. Which type of public sector enterprise is discussed above?

a)

Government company

b)

Departmental undertaking

c)

Statutory corporation

d)

All of the above

11.

Statutory corporations don't need not follow the Companies Act 1956.

a)

True

b)

False

12.

Food corporation of India was established through special act passed in parliament in 1964 with the objective to create buffer stocks of food like wheat, rice, etc. for emergency situations like drought, flood famines, etc. Which type of public sector enterprise is discussed above?

a)

Government company

b)

Departmental undertaking

c)

Statutory corporation

d)

None of the above

13.

The main objectives of public sector is to accelerate the rate of economic growth and industrialization.

a)

True

b)

False

14.

______ are not allowed to use their own revenue freely

a)

Statutory Corporation

b)

Departmental Undertakings

c)

Government Compani

d)

A and B

15.

Which one of the following public sector undertakings is established by passing a special law under Parliament?

a)

(a) Partnership

b)

(b) Sole proprietorship

c)

(c) Statutory corporation

d)

(d) Departmental undertaking

16.

Reserve Bank of India has been set up as which type of public enterprise?

a)

(a) Statutory corporation

b)

(b) Departmental undertakings

c)

(c) Government company

d)

(d) Multinational company

17.

Public Sector Enterprises are owned by ?

a)

State Government

b)

Central Government

c)

Both of these

d)

None of these

18.

Concerned minister of Departmental undertaking is responsible to ?

a)

Parliament

b)

State Legislature

c)

Both A and B

d)

None of these

19.

Employees of Departmental undertakings are

a)

Not government officials

b)

Government Officials

c)

Private Employees

d)

Personal Employees

20.

Select the appropriate examples for Departmental Undertakings.

a)

BHEL

b)

Railways

c)

Defence Establishments

d)

LIC

e)

Telephone

21.

Select the appropriate features for Statutory Corporation.

a)

Formation

b)

No Seprate Legal Entity

c)

Service motive

d)

Public Accountability

22.

Government companies can be owned by central and state government Jointly.

a)

True

b)

False

c)

Partially False

d)

None of these

23.

Government companies are managed by ?

a)

State Government

b)

Board of Directors

c)

Ministers

d)

Central Government

24.

Private investors can not hold shares in Government companies.

a)

True

b)

False

c)

Partially False

d)

Can't say

25.

Select the appropriate features for Government companies.

a)

Private owners

b)

Incorporation

c)

Public Servents

d)

Financial Autonomy

e)

Separate Legal Entity

26.

The revenue of departmental undertakings is deposited in _______

a)

Government Treasury

b)

State Treasury

c)

Company Treasury

d)

All of the above

27.

Select the options which are the forms of Public Sector Enterprises.

a)

Non Profit Organisations

b)

Government Companies

c)

Public Companies

d)

Co-operative Societies

e)

Departmental Undertakings

28.

Which of the following statement is false about departmental undertaking?

a)

All the employees are government employees.

b)

It is financed by the Government Budget.

c)

The employees are accountable to the concerned Minister.

d)

The employees have full autonomy in their working.

29.

Identify the type of Public Sector Enterprise mocked above.

a)

Departmental Undertaking

b)

Statutory Corporation

c)

Government Company

d)

Private Company

30.

In case of Government Company in India, shares are bought in the name of:

a)

Prime Minister

b)

Managing Director of the Company

c)

President of India

d)

Chairman Executive

31.

Assertion (A) : Departmental Undertaking is most suitable when national security is concerned.

Reason (R) : Departmental Undertaking is established under a special act of the Parliament.

a)

Both Assertion (A) and Reason (R) are true and R is the correct explanation of A.

b)

Both Assertion (A) and Reason (R) are true and R is not the correct explanation of A.

c)

Assertion (A) is true but Reason (R) is false.

d)

Assertion (A) is false but Reason (R) is true.

32.

In which form of Public Sector Enterprise, a private individual can also become a shareholder?

a)

Government Company

b)

Public Corporation

c)

Departmental Undertaking

d)

None of these

33.

Which of the following is not a true statement about a Government Company?

a)

It has a separate legal entity.

b)

It is free from budgetary, accounting and audit procedures.

c)

Government is the major shareholder.

d)

It is wholly owned by the government.

34.

In a survey conducted by Government of India, it was found that many farmers of the country are unable to secure loan for their agricultural needs. Keeping this in mind, the Government decided to form a Public Enterprise under a special act of Parliament, which will have financial and operational autonomy. Which type of Public Enterprise would you suggest to the government?

a)

Statutory Corporation

b)

Departmental Undertaking

c)

Government Company

d)

All of these

35.

Under which policy the role of Public Sector was more dominant?

a)

Industrial Policy 1991

b)

Industrial Policy 1948

c)

Industrial Policy 1952

d)

Industrial Policy 1993

36.

Which sector can modify their policies as per the needs of the situation?

a)

Private Sector

b)

Public Sector

c)

Both of these

d)

None of these

37.

Assertion (A) : Statutory Corporation is usually independently financed.

Reason (R) : The revenue earned by the Statutory Corporation is a source of income for the Government as it directly goes to the treasury.

a)

Both Assertion (A) and Reason (R) are true and R is the correct explanation of A.

b)

Both Assertion (A) and Reason (R) are true and R is not the correct explanation of A.

c)

Assertion (A) is true but Reason (R) is false.

d)

Assertion (A) is false but Reason (R) is true.

38.

Which one of the following is not a Public Sector Undertaking?

a)
b)
c)
d)
39.

Which of the following Public Sector Enterprise is fully accountable to the public and the concerned ministry?

a)

Partnership

b)

Government Company

c)

Public Corporation

d)

Departmental Undertaking

40.

Choose the correct pair.

a)

Departmental Undertaking - Managed by BOD

b)

Statutory Corporation - Managed by Ministry

c)

Government Company - Managed by the government

d)

None of these

41.

Atleast 51% of the Statutory Corporation is owned by the government.

a)

True

b)

False

c)

Partially false

d)

Nothing can be said

42.

Match the following correct items.

a)

(i) - (a), (ii) - (c), (iii) - (b)

b)

(i) - (b), (ii) - (c), (iii) - (a)

c)

(i) - (a), (ii) - (b), (iii) - (c)

d)

(i) - (c), (ii) - (a), (iii) - (b)

43.

............... And ............. are important documents of Government company

a)

Prospectus and article of association

b)

Memorandum and Article of association

c)

Memorandum and annual report

44.

Name the organisation that performs the audit of Government department.

a)

State audit organisation

b)

Comptroller & auditor general of India

c)

Institute of chartered accountants

d)

Auditor & Comptroller of lndia

45.

Business process of creating relationship with and satisfying customers.

a)

Advertisement

b)

Marketing

c)

Market Research

d)

Market Study

46.

Process of gathering, analyzing, and interpreting information about market, product, or service to be offered for sale in the market, about the past, present and potential customers for the product or service.

a)

MARKETING PLAN

b)

MARKET RESEARCH

c)

MARKETING STRATEGY

d)

PRODUCT TESTING

47.

Notice announcement in a public medium promoting a product, service or event or publicizing a job vacancy.

a)

ADVERTISEMENT

b)

ADVERTISING

c)

DISPLAY ADS

48.

Marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea.

a)

ADVERTISEMENT

b)

ADVERTISING

c)

DISPLAY ADS

d)

SOCIAL MEDIA ADS

49.

Pinterest, Instagram, Facebook are example of ........

a)

DISPLAY ADS

b)

PODCASTS

c)

SOCIAL MEDIA ADS

d)

VIDEO ADS

50.

Paying to sponsor a sports or a charity event.

a)

DISPLAY ADS

b)

EVENT MARKETING

c)

OUTDOOR ADVERTISING

d)

SOCIAL MEDIA ADS

51.

Digital Ads, Billboards, Newspapers and Magazines are _____________.

a)

DISPLAY ADS

b)

PODCASTS

c)

SOCIAL MEDIA ADS

52.

True or False?

Marketing involves encouraging people to buy a product or service.

a)

True

b)

False

53.

True or False?

Marketing includes advertising, selling, and delivering products to consumers.

a)

True

b)

False

54.

A marketing .............. refers to a business's overall plan for reaching prospective consumers.

a)

price

b)

promotion

c)

strategy

d)

place

55.

Product

a)

The cost to the buyer of goods or services

b)

Informing customers about products and persuading them to buy them

c)

Where goods or services are available

d)

Goods or services that are sold

56.

Promotion

a)

The cost to the buyer of goods or services

b)

Where goods or services are available

c)

Informing customers about products and persuading them to buy them

d)

Goods or services that are sold

57.

Place

a)

Informing customers about products and persuading them to buy them

b)

The cost to the buyer of goods or services

c)

Goods or services that are sold

d)

Where goods or services are available

58.

Is this ....

a)

Place?

b)

Product?

c)

Promotion?

d)

Price?

59.

Is this...

a)

Place?

b)

Product?

c)

Promotion?

d)

Price?

60.

Is this...

a)

Price?

b)

Promotion?

c)

Place?

d)

Product?

61.
Apple consistently responds to consumer wants by modifying the iPhone with new features that help their daily lives.
a)
Selling
b)
Product Management
c)
Marketing Information Management
d)
Promotion
62.
A television commercial stresses the benefits of buying a new protein bar.
a)
Marketing Information Management
b)
Selling
c)
Promotion
d)
Product Management
63.
A company uses data from its sales records to reduce its product line by eliminating the products that did not sell well in the last two years. 
a)
Marketing Information Management
b)
Market Planning
c)
Promotion
d)
Product Management
64.
A customer buys a Kindle and books from Amazon.com to get ready for an upcoming vacation.
a)
Distribution
b)
Product Management
c)
Market Planning
d)
Marketing Information Management
65.
A manufacturer of apparel signs a contract with a company that specializes in trucking and warehousing of imported goods. 
a)
Distribution
b)
Market Planning
c)
Selling
d)
Product Management
66.
A cell phone company offers an extended warranty to consumers to purchase that covers their phone repairs for 2 years from the purchase date.
a)
Selling
b)
Pricing
c)
Promotion
d)
Product Management
67.
There is a shortage of pumpkins due to a rainy summer, so consumers are charged more per item containing pumpkin puree in the fall.
a)
Market Planning
b)
Marketing Information Management
c)
Selling
d)
Pricing
68.
This shows the NET WORTH of the company.
a)
Owner's Equity
b)
Liabilities
c)
Assets
d)
Revenue
69.
The amount of money a company earns is called
a)
revenue
b)
profit
c)
sales
d)
expense
70.
This results when a business' expenses are greater than its income.
a)
income
b)
profit
c)
revenue
revenue
d)
loss
71.
Accounting, auditing, bookkeeping are all
a)
functions in Accounting
b)
Functions in Finance
c)
Accounting Activities
d)
Finance Activities
72.
Planning, recording, analyzing, and interpreting financial information
a)
accounting
b)
ethics
c)
transaction
d)
revenue
73.

Which of the following is the most relevant accounting information for taxation authorities?

a)

Cash balance of the firm

b)

Book value of the fixed assets

c)

Credit sales of the year

d)

Profit generated during the year

74.

Which of the following is definition of accounting?

a)

It's a process of classifying, recording, and summarizing the business transaction in monetary unit, interpretating the data in assist stakeholders in making decision.

b)

It's a process of recording, classifying, and summarizing the business transaction in monetary unit, interpretating the data in assist stakeholders in making decision.

c)

It's a process of classifying, recording, and summarizing the business transaction interpreting the data in assist stakeholders in making decision.

75.

Accounting is referred to as the "language of ___________________."

a)

Profit

b)

Life

c)

Accounting

d)

Business

76.

Budgeting includes only the financial aspects of the plan and not any non financial aspects such as the number of physical units manufactured

a)

True

b)

False

77.

Budgeting is used to help companies:

a)

plan to better satisfy customers

b)

anticipate potential problems

c)

focus on opportunities

d)

All of these answers are correct.

78.

Safe, secure place in which items are placed until they are needed.

a)

purchasing

b)

receiving

c)

storage

d)

inventory

79.

When should suppliers deliver food?

a)

In the mornings

b)

In the evenings

c)

On weekdays

d)

When staff has enough time to inspect the food

80.

Food safety begins at what stage in the restaurant process?

a)

Receiving

b)

Purchasing

c)

Cooking

d)

Storage

81.

It is the process of getting the right product for a facility at the right time and in a form meeting pre-established standards of quality, quantity, and price.

a)

storing

b)

purchasing

c)

receiving

d)

marketing

82.

By purchasing just the quantity of supplies that is needed, purchasing can:

a)

plan the company's cash flow.

b)

provide an uninterrupted flow of supplies.

c)

buy supplies at the lowest possible price

d)

minimize inventory investment.

83.

The first step in maintaining an inventory of supplies for the business is to:

a)

conduct research to find vendors that sell the supplies.

b)

develop a list of supplies that the business needs.

c)

compare prices among vendors.

d)

organize a space to store the supplies.

84.

Which question should be answered by the purchasing function?

a)

How can we inform customers of available merchandise?

b)

How much merchandise should we buy?

c)

How will merchandise be shipped to us?

d)

How can we protect merchandise from pilferage?

85.

The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract.

a)

Purchasing Order

b)

Purchasing Process

c)

Pure Research

d)

Purchasing

86.

Which factors should you consider when choosing factory premises?

a)

Proximity to the resource

b)

Availability of transport

c)

Regional regulations

d)

Where child labour is legal

87.

Which of the following is NOT a criterion for factory layout?

a)

Co-ordination

b)

Safety

c)

Visibility

d)

dietary requirements of workers

88.

Select the safety measures that will be applied at the Simba chips manufacturing plant.

a)

Display Factory Safety Policy

b)

Display Accident Statistics

c)

Practice Emergency Drills

d)

Provide Safety Handbooks

89.

The disadvantage of mass production is …

a)

Equipment and labour are cheap

b)

Quality control is difficult

c)

The cost per unit is high

d)

High stock levels have to be maintained because production happens fast and on a large scale

90.

The production function is responsible for the overall marketing of products to the consumer.

a)

True

b)

False

91.

__________ is a voluntary agreement between two or more people, examples include implied or expressed.

a)

disclosure

b)

Code of Ethics

c)

contract

d)

law

92.

Accounting and Finance sells a company's products

a)

True

b)

False

93.

Which department is in charge of making sure the workplace is safe?

a)

Human Resources

b)

General administration

c)

Legal

d)

Marketing

94.

If you wanted to promote a product, which department would be most helpful?

a)

Legal

b)

Marketing and Advertising

c)

Production

d)

Human Resources

95.

If you aren't sure if you can sell your product in another state, which department could you ask?

a)

Human Resources

b)

Supply Chain

c)

Legal

d)

Sales and Customer Service

96.
Its main responsibility is to produce items.
a)
export department
b)
purchasing department
c)
import department 
d)
production
97.
These department provide a service that includes procuring materials, evaluating prices, and keeping careful records.
a)
customer service
b)
accounting department 
c)
technical support team
d)
purchasing department
98.
 Wages and Salaries 
a)
Human resources
b)
Production
c)
Marketing
d)
Finance
99.

This department finds new staff.

a)

The Logistics Department

b)

The Finance Department

c)

The Training Department

d)

The Human Resources Department

100.

It is responsible for the management of money in a business.

a)

Marketing

b)

Human resources

c)

IT

d)

Finance

101.

Induction training is:

a)

Training that takes place 6 months after the employee starts the job.

b)

Training that takes place before the employee actually starts the job.

c)

Training that takes place after the employee starts the job.

d)

Training that takes place when the employee leaves the job.

102.

The human resources department (HR) is responsible for the ___ and training of personnel.

a)

recruitment

b)

elimination

c)

devaluation

103.

If you need to buy new materials for your company, you contact the ___ department

a)

anti-terrorism

b)

sales and marketing

c)

purchasing

104.

People who love money and numbers like it's their life's passion, usually work at the ___ department

a)

finance

b)

purchasing

c)

mathematics

105.

Which form of communication enables people at the same level within departments of the organisation to communicate with each other?

a)

Vertical communication

b)

Horizontal communication

c)

Internal communication

d)

External communication

106.

What are the two types of Organizational Communication?

a)

Interpersonal and Intrapersonal

b)

Verbal and Non-Verbal

c)

Formal and Informal

107.
All true communication must have the following:
a)
A sender and a receiver
b)
A speaker and a listener
c)
A hearer and a listener
d)
A speaker and an interpreter
108.
If you need to let the employees in your business know that the server will be down this afternoon beginning at 3:00, you would most likely use:
a)
An email
b)
A memo
c)
Business Letter
d)
Personal Business letter
109.
The most commonly used form of business communication is: 
a)
Business Letter
b)
Personal Business Letter
c)
Memo
d)
E-mail
110.

Informal communication is also called..

a)

Modern

b)

Grape – Vine

c)

Oral

111.

In the model of the communication process, ____ occurs when a message is put into a written, verbal or symbolic form that can be recognised and understood by the receiver.

a)

encoding

b)

decoding

c)

transmission

d)

feedback

112.

Which of the following is a barrier to communication?

a)

Message is not clear

b)

Not listening

c)

Lack of language skills

d)

All of the above

113.

Which is NOT important in effective communication?

a)

Wearing a red tie

b)

Making eye contact

c)

Using appropriate body language

d)

Using the appropriate tone

114.

Good customer service is the ability of an organisation to constantly and consistently exceed:

a)

The speed of sound

b)

The customer's expectations

c)

The rainfall in South America

d)

Their competitor's sales

115.

You want to tell your superior that you want to resigned from your current job. Which is the best way?

a)

By phone

b)

By a formal letter

c)

Face to face

d)

concise e- mail

116.

Restrictions that prevent a message from being sent/received/understood effectively.

a)

Communication barriers

b)

Internal communication

c)

One-way communication

d)

Transmitter

117.

The _________________ is the method used to send a message, for example, a letter is a method of written communication and a meeting is a method of verbal communication.

a)

Internal communication

b)

External communication

c)

Communication

d)

Medium of communication

118.

What is effective communication in the workplace?

a)

It is when managers communicate tasks.

b)

One-way information sharing that is effective in the business environment by helping employees understand, complete tasks and become successful.

c)

Two- way information sharing that is effective in the business environment by helping employees understand, complete tasks and become successful.

d)

It is when listening is preferred to speaking.

119.

What are the barriers to Effective Communication?

a)

Poor Listening

b)

Avoid of eye contact

c)

Distractions

d)

All the above

120.

A contract is best communicated using which channel of communication?

a)

Electronic

b)

Written

c)

Oral

d)

Visual

121.

Select the communication channel displayed

a)

Visual

b)

Oral

c)

Electronic

d)

Non verbal

122.

Select the communication channel displayed

a)

Visual

b)

Non verbal

c)

Written

d)

Electronic

123.

Select the communication channel displayed

a)

Written

b)

Non verbal

c)

Visual

d)

Oral

124.
Is email a method of communication
a)
Yes
b)
No
c)
Maybe
d)
I don't kow
125.
Which of the following is an advantage of written communication?
a)
It is always formal and creates a positive company image
b)
It will be easily understood by the person who receives the message
c)
It will be delivered on time
d)
The message can be re-read if the person doesn't understand it first time

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