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Commerce Quiz

Total questions: 165

Worksheet time: 1hrs 28mins

Name
Class
Date
1.
Which of the following is NOT a service
a)
Bus ride
b)
Movie
c)
Pen
d)
Haircut
2.
A person who buys goods and services is called a
a)
Consumer
b)
Producer
c)
Server
d)
Student
3.
Which of the following would be a complementary good for  a skateboard
a)
Scooter
b)
Pen
c)
Bus ride
d)
Helmet
4.
What would be a substitute product for a car
a)
Car seats
b)
Bike
c)
Car Wash detergent
d)
New wiper blades
5.
How much  a producer is prepared to make is referred to as 
a)
Supply
b)
Demand
c)
Popularity
d)
Price
6.
How much a consumer is prepared to buy is referred to as
a)
Demand
b)
Supply
c)
Price
d)
Homework
7.
GST
a)
Goods and services total
b)
Goods and School Tax
c)
Goods and Services Tax
d)
Great Services Tax
8.
A product that is scarce would be
a)
Milk
b)
Bananas
c)
Diamonds
d)
Bread
9.
A person who makes goods and services is a
a)
Consumer
b)
Producer
c)
Server
d)
Builder
10.
When there is only one producer it is called
a)
An Oligopoly
b)
A Scrabble
c)
A Monopoly
d)
A Loner
11.
The point at which both consumers and producers are happy with the price is called
a)
Happy Days
b)
Price Equilibrium
c)
Breaking Point
d)
Even Point
12.
The price of a product can be influenced by the weather or time of year
a)
True
b)
False
13.

Digital economy also known as

a)

brick-and-mortar economy

b)

web economy

14.

Company Adi sells products to individuals. What EC classification do they fit?

a)

B2C

b)

B2B

c)

C2C

d)

P2P

15.

E-Commerce is the process of buying, selling or exchanging products, services or information via computer.

a)

Yes

b)

No

16.

Which one is not an online payment mode?

a)

Cash on Delivery

b)

Debit card

c)

Credit card

d)

e-cheque

17.

Which of the following best describes e-commerce?

a)

Doing Business electronically

b)

Doing business

c)

Sale of goods

d)

All of the abive

18.

Which type of e-commerce focuses on consumers dealing with each other?

a)

B2B

b)

B2C

c)

C2C

d)

C2B

19.

What protects system from external threats?

a)

firewall

b)

EDI

c)

ERP

d)

Script Kiddies

20.

E-Commerce stands for

(a)  

21.

King of e-commerce..

a)

business to business (B2B)

b)

Government

c)

wiki

d)

GIO

22.

What is E-Commerce?

a)

Trade

b)

Exchange of goods and services

c)

Buying &selling goods and services by using internet

d)

Purchasing and selling

23.

Expand WWW

a)

watch, website,Wheel

b)

World Wide Web

c)

World wide Website

d)

Webinar watch world

24.

Buying and Selling the products over the Internet is called__________

a)

Electronic Commerce

b)

Electronic Market

c)

E-Shopping

d)

EDI

25.

Which type of e-commerce focuses on consumers dealing with each other?

a)

B2B

b)

B2C

c)

C2C

d)

C2B

26.

what are the different types of e commerce transactions?

a)

B2C

b)

C2C

c)

C2B

d)

A2A

27.

Which of the following is example of Social Network Services (SNS)?

a)

facebook

b)

instagram

c)

twitter

d)

youtube

28.

ISP Stands for?

(a)  

29.
A person who buys goods and services is called a
a)
Consumer
b)
Producer
c)
Server
d)
Student
30.

Expand WWW

a)

watch, website,Wheel

b)

World Wide Web

c)

World wide Website

d)

Webinar watch world

31.

What do you prefer?

a)

Online shopping

b)

Offline shopping

32.

What do you prefer?

a)

Online shopping

b)

Offline shopping

33.

What are the 4P's of marketing?

a)

Product

b)

Price

c)

Promotion

d)

Person

34.

What is the impersonal and paid form of marketing used to increase the awareness and sales of brand?

(a)  

35.

When two businesses interact in e-commerce it is known as?

a)

B2B

b)

B2C

c)

C2C

d)

B2G

36.

Business Environment leading to changes in taxes and laws is?

a)

Social environment

b)

Economic environment

c)

Political environment

d)

Legal environment

37.

E-commerce is a latest technology related with

a)

Commerce

b)

Computer

c)

Both Commerce and computer

d)

buying and selling

38.

Goodwill is a(n)

a)

assets

b)

liability

c)

fictitious asset

d)

current asset

39.
Which of the following is NOT a service
a)
Bus ride
b)
Movie
c)
Pen
d)
Haircut
40.

Expand IBM

a)

International Business Machine

b)

International Business Model

c)

Inter collaboration Buying model

d)

Interwoven buying machine

41.

What is e-commerce?

a)

Buying goods and services on your local high street

b)

Business transactions involving payment using credit card

c)

Commercial transactions conducted electronically on the Internet

d)

Selling a range of good and services at your local car boot sale

42.

E - commerce is business using electronic means.

a)

True

b)

False

c)

Both A and B

d)

Non of the above

43.

Barter system is

a)

Current method of trade

b)

Using credit cards and new methods of money

c)

Services to trade

d)

Exchanging goods to goods

44.

The correct debit entries are

a)

Asset increases, Expenses decreases, Liabilities increases

b)

Asset increases, Expenses increases, Equity decreases

c)

Asset decreases, Income Increases, Capital increases

45.

A ————— is a physical thing produced to fulfill human needs and wants

(a)  

46.

E-commerce is the -------- transactions

a)

Paper Transactions

b)

Paperless Transactions

c)

Online Sale and Purchase of Goods and Services

d)

only credit transactions

47.

who is the head in HUF

a)

Karta

b)

Partner

c)

Co-parcener

48.

Membership in HUF is by

a)

Education

b)

Birth

c)

Death

49.

Partnership is a _________ relation

a)

Blood

b)

Friendly

c)

Contractual

50.

Division of work is

a)

Each one doing different work

b)

Each one doing all the work

c)

Each one doing same work

51.

In LLP a partner

a)

Need not sell his private property to clear debt

b)

A partner has to sell his private assets to clear debt

52.

Registration in partnership is

a)

Compulsory

b)

Optional

53.

Liabilities of a partner is

a)

Limited

b)

Joint of several

c)

Unlimited

54.

Partner in estoppel is

a)

Below 18 years

b)

Shares only profit

c)

Represents as partner in words and action

55.

Indemnity means

a)

Share the loss

b)

Increase the loss

c)

Compensate the loss

56.

Dissolution of the firm means

a)

Starting a business

b)

Expanding the business

c)

Ending a business

57.

A distinguishing characteristics of a limited liability company is that it

a)

is a collection of many sole proprietors

b)

is a multiple partnership

c)

can sue and be sued

d)

has limited resources

58.

___ is the organisation set up, owned and financed by individuals to promote the welfare of the members

a)

limited company

b)

public enterprise

c)

cooperative society

d)

partnership business

59.

___, ____ and __ are the three kinds of companies

(a)  

60.

Profit made in cooperative society is shared on the basis

a)

patronage

b)

shares invested

c)

members' interest

d)

attendance

61.

All are types of cooperative society EXCEPT

a)

producers cooperative society

b)

consumers cooperative society

c)

credit and thrift cooperative society

d)

managers' cooperative society

62.

___ is the document which allows a company to commence business activities

a)

memorandum of association

b)

articles of association

c)

certificate of trading

d)

prospectus

63.

One the following is NOT a source of finance to limited liability companies

a)

loans and overdraft

b)

retained profits

c)

trade credit

d)

savngs

64.

The advantage of a private limited liability company is

a)

large capital than the partnership

b)

it cannot sue and be sued

c)

shareholders have unlimited liability

d)

it discourages expansion

65.

(a)   is a legal person or entity created by the association of a number of people in accordance with the law for the purpose of a defined object.

66.

___ is a document in which the regulations which govern the internal management of the company's affairs, the duties, rights and powers of the members are stated.

a)

certificate of trading

b)

memorandum of association

c)

articles of association

d)

prospectus

67.

SBI is the central Bank of India

a)

True

b)

False

68.

State Bank of India Act was passed in

a)

1955

b)

1959

c)

1949

d)

1935

69.

Monetary policy is formulated and administered by SBI

a)

True

b)

False

70.

7 Banks were nationalised as subsidiaries of SBI

a)

1959

b)

1969

c)

1979

d)

1972

71.

Full form of ICICI

(a)  

72.

IDBI stands for

(a)  

73.

How many banks are nationalized in 1980

a)

6

b)

14

c)

20

d)

10

74.

RBI leader of Indian Banking System.

a)

True

b)

False

75.

SBI and it's subsidiaries are known as SBI group.

a)

True

b)

False

76.

HQ of RBI

a)

Delhi

b)

Kolkata

c)

Mumbai

d)

Bengaluru

77.

AMUL is a ________

a)

Cooperative

b)

MNL

c)

Joint Stock Company

78.

The bata corporation is a _______

a)

Indian MNC

b)

Foreign MNC

c)

Sole Trade

79.

INFOSYS is ________

a)

Indian MNC

b)

Foreign MNC

c)

Partnership business

80.

Indian railways is _________

a)

Public carporation

b)

Co operative

c)

Departmental Organisation

81.

Reliance is

a)

Sole trader

b)

Corporate Enterprise

c)

Partnership

82.

In a cooperative society the owners are

a)

Government

b)

Members

c)

Shareholders

83.

In joint stock company liability is

a)

Limited

b)

Unlimited

c)

No liability

84.

In cooperative society the main objective is ________

a)

Provide low price goods

b)

Profit maximization

c)

Price goods

85.

One man - one vote is the principle of _________

a)

Joint Stock Company

b)

Sole Trade

c)

Cooperative

86.

One share - One vote is the principal of ________

a)

Joint Stock Company

b)

Sole Trade

c)

Cooperative

87.

Which of the following is not a business objective?

a)

Corporate social responsibility

b)

Market share

c)

Growth

d)

Employment

88.

Which of the following does not characteristic business activity?

a)

Production of goods & services

b)

Presence of risk

c)

Sales & exchange of goods & services

d)

Salary or wages

89.

Which of the following is not an economic activity?

a)

Production

b)

Trading in goods

c)

Professional

d)

Social service

90.

Which of the following is not a business activity?

a)

Production of goods

b)

Work in a factory for wages

c)

Exchange of goods

d)

Transportation

91.

Why should a business earn profit

a)

To provide return to investors.

b)

To provide funds for future growth .

c)

To increase the reputation of business.

d)

All the above

92.

India is a top importer of the following

a)

Petroleum crude

b)

Jewellery

c)

Textiles

d)

All of these

93.

______________are middle men between manufacturer and consumer.

a)

Wholesaler

b)

Insurance company

c)

WTO

94.

Economic Activities =

a)

Business + Profession

b)

Business + Employment

c)

Business + Employment

d)

Business + Profession + Employment

95.
Name the two broad categories of business activities.
a)
 Trade and commerce 
b)
 trade and industry 
c)
industry and commerce
d)
none of these
96.
Commerce includes activities relating to trade and ____________
a)
Supporting 
b)
subsidiaries 
c)
auxiliaries to trade
d)
none of these
97.

Which of the following statements is true in relation to business aims and objectives?

a)

Aims are specific and objectives are general

b)

Aims and objectives are both general

c)

Aims are general and objectives are specific

d)

Aims and objectives are both specific

98.

Which of the following stakeholders (a person who is interested or is affected by a business) is most likely to have profit as an objective?

a)

Owners

b)

Employees

c)

Suppliers

d)

Customers

99.

Which of the following type of objective would an entrepreneur set who is aiming to ensure revenue is greater than total costs?

a)

Personal objective

b)

Profit objective

c)

Social objective

d)

Market share objective

100.

The purpose of a business setting objectives is:

a)

To maximise profits

b)

To reduce market share

c)

To provide targets

d)

To increase sales

101.

Which of the following is a non-financial aim and objective?

a)

Market share

b)

Survival

c)

Sales

d)

Social objectives

102.
A person who buys goods and services is called a
a)
Consumer
b)
Producer
c)
Server
d)
Student
103.

Expand WWW

a)

watch, website,Wheel

b)

World Wide Web

c)

World wide Website

d)

Webinar watch world

104.

What are the 4P's of marketing?

a)

Product

b)

Price

c)

Promotion

d)

Person

105.

The type of leader who welcomes the participants of the group in the formulation of the policies and decision making is

a)

Autocratic leader

b)

Democratic leader

c)

Laissez-faire leader

106.

Job analysis should be done

a)

Before recruitment

b)

After recruitment

c)

At the time of placement

107.

Job analysis should be done

a)

Before recruitment

b)

After recruitment

c)

At the time of placement

108.

Patents, Copyrights and Trademarks are

a)

Current assets

b)

fixed assets

c)

intangible assets

d)

investment

109.

The account that records expenses,gains and losses is

a)

Personal account

b)

Real account

c)

Nominal account

d)

None of the above

110.

Identify the brand

a)

Cafe Coffee Day

b)

Barista

c)

Starbucks

d)

The Coffee Bean & Tea Leaf

111.

Identify the brand image

a)

Audi

b)

Adidas

c)

Maruti Suzuki

d)

Mercedes Benz

112.

Identify the organisation

a)

Reserve Bank of India

b)

State Bank of India

c)

HDFC

d)

Life Insurance Corporation of India

113.

Company Adi sells products to individuals. What EC classification do they fit?

a)

B2C

b)

B2B

c)

C2C

d)

P2P

114.

EC reduces cycle time in all of the following ways except

a)

Customer satisfaction

b)

Development of marketing materials

c)

Product distribution

d)

Time to market

115.

Which of the following is NOT the function of a market

a)

Matching buyers and sellers

b)

Facilitation of transactions

c)

Ensuring profits of brokers

d)

Provide institutional infrastructure

116.

Warehouses remove the hindrance of

a)

Person

b)

Time

c)

Risk

d)

Knowledge

117.

A warehouse holds goods as a -------- centre

a)

Marketing

b)

Sorting

c)

Distribution

d)

Selling

118.

---------- can be given as collateral security for getting financial assistance from bank

4 lines
119.

The document authorizes to deliver the goods either in part or full is called

a)

Warehouse warrant

b)

Dock receipt

c)

Dock warrant

d)

None of these

120.

----- warehouses are used for storing perishable goods like fruits, vegetables etc.

4 lines
121.

The institutional warehouse started with the support of the government is

a)

Bonded warehouse

b)

Public warehouse

c)

Food Corporation of India

d)

Custom Bonded

122.

------- warehouses are licensed by the government and are permitted to accept the goods on bond.

(a)  

123.

Transport removes the hindrance of

a)

Time

b)

Place

c)

Person

d)

Knowledge

124.

Air consignment note is prepared in -------- forms

(a)  

125.

Which is the fastest means of transport?

a)

Rail

b)

Road

c)

Sea

d)

Air

126.

All human beings require different types of goods and services to satisfy their needs. So they keep themselves busy and do some activities throughout their life. All activities can be classified as?

a)

Economic and Non-economic activities

b)

Business and Profession activities

c)

Employment and Non-employment activities

d)

Goods and Services activities

127.

Actions that involve production, distribution and consumption of goods and services at all levels within a society is called

a)

Non-economic activity

b)

Economic activity

c)

Business

d)

Profession

128.

What is that part of economic activities under which a person uses his educational knowledge and special skill to render services for earning some income?

a)

Industry

b)

Business

c)

Qualifications

d)

Profession

129.

Business activities can be broadly classified into which two categories?

a)

Primary industry and Secondary industry

b)

Transport and Bank

c)

Industry and Commerce

d)

Manufacturing and Construction

130.

Buying and selling of goods and services takes place within the geographical boundries of a country is called?

a)

Internal trade

b)

Wholesale trade

c)

International trade

d)

Export trade

131.

When goods and services are purchased from another country is called?

a)

Entrepot trade

b)

Export trade

c)

Import trade

d)

Retail trade

132.

What is engaged in distribution of goods and services

a)

Industry

b)

Commerce

c)

Utility

d)

Communication

133.

What is engaged in production of goods and services?

a)

Commerce

b)

Utility

c)

Communication

d)

Industry

134.

In this economic activity, goods and services are produced and distributed

a)

Industry

b)

Commerce

c)

Business

d)

Proffesion

135.

In this economic activity, expert services are rendered.

a)

Industry

b)

Business

c)

Commerce

d)

Profession

136.

The software company promoted by Narayana Morthy is.....

a)

Wipro

b)

Infosys

c)

Satyam

d)

HCL

137.

Which one of the following is not an element of direction?

a)

Motivation

b)

Communication

c)

Delegation

d)

Supervision

138.

The motivation theory which classifies needs in hierarchical order is developed by

a)

Fred luthans

b)

Scott

c)

Abraham Maslow

d)

Peter F Drucker

139.

Grapevine is .......

a)

Formal communication

b)

Barrier to communication

c)

Lateral communication

d)

Informal communication

140.

Final step in a communication process is ..........

a)

Ideation

b)

Action

c)

Follow up and feedback

d)

Decoding message

141.

Which among the following is an example of upward communication

a)

Circular

b)

Memos

c)

Complaints

d)

Notice

142.

The highest level need in the need hierarchy of Abraham Maslow

a)

Safety need

b)

Belongingness need

c)

Self actualization need

d)

Prestige need

143.

Which of the following is a financial incentive

a)

Promotion

b)

Stock incentive

c)

Job security

d)

Employee participation

144.

More direction is required at ...........

a)

Top level

b)

Middle level

c)

Lower level

d)

Directors

145.

Direction ...................

a)

Converts plans into practice

b)

Is practical aspects of management

c)

Is inter- personal aspect of management

d)

All of the above

146.

Supervisors are link between ..............

a)

Directors and managers

b)

Workers and middle level managers

c)

Directors and workers

d)

Workers and workers

147.

Effective communication does not require ......................

a)

Simplicity

b)

Ambiguity

c)

Clarity

d)

All of the above

148.

Translating messanger into words for the purpose of understanding is known as ............

a)

Encoding

b)

Decoding

c)

Feedback

d)

Channel

149.

Motivation ............

a)

Means the complex of forces inspiring a person to work

b)

Is a process of generating enthusiasm

c)

Is a process of stimulating people to act

d)

All of the above

150.

Status comes under the following types of barriers

a)

Semantic barrier

b)

Non- semantic barrier

c)

Organisational barrier

d)

Psychological barrier

151.

The communication network in which all subordinates under a supervisor communicate through supervisor only is ................

a)

Single chain

b)

Wheel

c)

Inverted V

d)

Free flow

152.

Motivational means should be determined on the basis of .............

a)

Individuals

b)

Jobs

c)

Working conditions

d)

All of the above

153.

.................. Incentive satisfy ego of employees

a)

Financial

b)

Non- financial

c)

Positive

d)

All of the above

154.

There is ..................... in autocratic supervision

a)

Strict discipline

b)

Balanced decision

c)

Employees initiative

d)

Friendly relation with workers

155.

In case of .................. motivation employees are rewarded.

a)

Negative

b)

Positive

c)

Intrinsic

d)

None of the above

156.

A person who is not necessarily the owner of the business but has a stake on how the business is performing is called __________.

a)

stakeholder

b)

stockholder

c)

partners

d)

manager

157.

They are considered owners of the business and have voting rights, entitled to dividends which depend on their share and earnings of the corporation. They are called _________.

a)

stockholder

b)

stakeholder

c)

employees

d)

investors

158.

One of the internal stakeholders wherein the financial reports are necessary for them for decision making purposes. They are called ________.

a)

Top Management

b)

Department managers

c)

Board of directors

d)

employees

159.

It accepts deposits from individuals and organizations that have excess funds and provide loans to those who are in need. This financial institution is called _______.

a)

investment banks

b)

commercial banks

c)

credit unions

d)

insurance companies

160.

One of the financial institutions that operates by collecting premiums from clients is called ____________ .

a)

brokerage

b)

credit union

c)

investment banks

d)

insurance companies

161.

This is are markets where transactions involving long-term debt or those maturing in more than a year is called _________.

a)

capital markets

b)

money markets

c)

public market

d)

product marketing

162.

It is a collection of financial products owned by a single investor, either an individual or organization is called ______.

a)

product marketing

b)

investment portfolio

c)

stock contribution

d)

product investment

163.

It is a document which the borrower gives to the lending institution in exchange for the money he borrowed is called _______.

a)

gift certificate

b)

check

c)

collateral

d)

promissory note

164.

If you hear the word "finance", what comes into your mind?

a)

bank

b)

treasurer

c)

money

d)

ATM

165.

_____________ is tasked to prepare a cost and benefit analysis on which is more costly or cheaper, to purchase or rent on plant, property and equipment.

a)

logistics

b)

accounting Supervisor

c)

accountant

d)

bookkeeper

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