WorksheetsBusiness and Commerce Multiple Choice Questions
Total questions: 80
Worksheet time: 43mins
As an external stakeholder, what interest would a company's supplier have in a company?
The supplier would want to be paid for the purchases made by the company on a timely basis
The supplier would want to know that employees will continue to have jobs
The supplier would want to know how much it will receive in dividends
The supplier would want to know how much it will make from its investment
In marketing, _____ is the focal point.
Profit
Sales
Customer
All of the above
Which one of the following is a key to build lasting relationships with consumers?
Price of the product
Need recognition
Customer satisfaction
Quality of product
_____ are generally secured by assets or guarantees.
Cash credit
Overdraft
Discounting of bills
Loans
The _____ selection tests seek to measure a candidate’s capacity to learn particular skills and test his potential abilities.
Personality
Dexterity
Trade
Aptitude
_____ is a positive process which creates a pool of candidates.
Recruitment
Selection
Training
Development
Which of the following describes E-Commerce?
Doing business electronically
Doing business physically
Sale of goods
None of the above
MYNTRA is an example of:
E-Advertising
E-Tailing
E-Marketing
E-Security
ERP stands for:
Enterprise Resource Planning
Enterprise Relationship Platform
Finance and Accounting Module
Purchase Module
Which type of exploitation is this? (Fair & Handsome advertisement)
Misleading
False packaging
Overcharging
Under-weighing
The valve of this cooker, which if defective can cause a serious accident, is related to which Right of the Consumer?
Right to Consumer Education
Right to Safety
Right to be Heard
Right to Knowledge
What is advertising?
Publicity
Sales Promotion
Paid Information
All of the above
The following is not a function of advertising:
Information
Brand Image Building
Persuasion
Pricing
Training within the industry scheme imparts training in:
Job Instructions
Job Rotation
Job Method
All of the above
The fixed costs are those costs which turn out to be ______ at any volume of production output.
Constant
Proportional
Fluctuating
Increasing
Debenture holders are:
Debtors of the company
Creditors of the company
External users
Owners of the company
The primary motive of any business is to earn profit with ____ welfare.
Customer
Social
Exchange
Money
______ is directed towards consumers and traders with the intention to increase immediate or short-term sales.
Advertising
Direct Selling
Sales Promotion
Publicity
Rights of consumers are protected under ______.
Electronic Retailing represents ______ side of e-commerce.
B2B
B2C
C2C
C2G
It is an account prepared to know the net profit / loss. It is a nominal account and represents the second stage.
Trading Account
Profit and Loss Account
Balance Sheet
Manufacturing Account
Total variable cost per unit increases ______.
When production grows
When demand decreases
Change in government rules
Change in availability of raw materials
Which budget is also known as Summary Budget?
Cash Budget
Purchase Budget
Master Budget
Sales Budget
______ is a kind of temporary financial accommodation extended by a bank to its regular customers.
Term Loans
Overdraft
Permanent Capital
Discounting of Bills of Exchange
Equity shareholders are called ______.
Owners of the company
Partners of the company
Executives of the company
Guardian of the company
______ is a positive process.
Recruitment
Selection
Staffing
Training
______ refers to individual and collective relationships between employers and employees in industry.
Industrial Relations
Employer Relations
Employee Relations
Personnel Relations
The insurer is liable for insured perils only and not for unexpected ones. This is the principle of ______.
Indemnity
Utmost Good Faith
Which stakeholder group is most likely to view higher profits as a key objective?
Employees
Suppliers
Shareholders
Customers
The main objective of marketing is ______.
Increase profit
Decrease sales
Increase price
Decrease profit
The content and context of a message contained in an advertisement is called ______.
Ad copy
Script
Body
Advertising appeal
It is popularly known as free form of promotion ______.
Advertisement
Publicity
Personal Selling
Marketing
A doctor's negligence leading to a patient's injury violates which consumer right?
Right to Safety
Right to be Informed
Right to be Assured
Right to be Heard
Amount spent on increasing seating capacity in a cinema hall is ______.
Capital Expenditure
Revenue Expenditure
Deferred Revenue Expenditure
Capital Receipt
Which module helps to boost sales performance through customer service and healthy relationship with customers?
Inventory Module
Purchase Module
Customer Relationship Management
Sales Module
Gita bought a face cream that caused burns due to chemical adulteration. Can she file a case?
Yes, she can file against the general store
No, she can't
She can file against manufacturer
Neither (a) nor (b)
It is advantageous to coordinate budgets with:
Suppliers
Customers
Marketing and Production Departments
All of the above
Opening stock ₹40,000, purchase ₹260,000, closing stock ₹20,000. Cost of goods = ?
₹320,000
₹260,000
₹300,000
₹280,000
Machinery worth ₹60,000 installed — accounting treatment?
Credit side of P&L Account
Credit side of Trading Account
Liability side of Balance Sheet
Asset side of Balance Sheet
Arun’s house insured with 3 companies (ratio 1:2:3). Principle being applied:
Contribution
Mitigation of Loss
Subrogation
Insurable Interest
Shivam pays by debit card using a machine — this machine is called:
Point of Sale Machine
ATM
Computerized Machine
None
According to this principle, the insured must minimize loss in case of mishap.
Causa Proxima
Insurable Interest
Contribution
Mitigation of Loss
“Return of loans on expiry of specified period” is the expectation of ______.
Suppliers
Competitors
Creditors
Employees
Amount of ______ is paid once in lump sum whereas ______ is paid monthly.
Provident Fund, Pension
Pension, Provident Fund
Gratuity, Provident Fund
Provident Fund, Gratuity
Identify the type of financial fraud when assets are overstated or liabilities understated:
Insurance Fraud
False Accounting Fraud
Intellectual Property Fraud
Internet/Cyber Fraud
Sai Enterprises sells goods on credit ₹3,50,000; can get payment from bank after discount — identify method:
Term Loans
Cash Credit
Overdraft
Discounting of Bills of Exchange
Arrange job instruction training steps:
(i) (iii) (ii) (iv)
(i) (iv) (ii) (iii)
Which is NOT correct w.r.t selection tests?
Used to judge physical and mental qualities
Helpful in measuring suitability
Based on assumption that human traits can be predicted
Fully reliable and don’t involve time and money
Cookies, web banners and pop-ups are examples of ______.
E-Security Threats
E-Security Remedies
E-Advertising
E-Marketing
This budget forms the fundamental basis on which others are built.
Sales Budget
Master Budget
Purchase Budget
Cash Budget
The Right to Seek Redressal means ______.
Assured access to goods at competitive prices
Right to register complaint at forums
Right to get claims settled against unfair trade practices
Right to be informed about quality and price
NEFT stands for ______.
National Electronic Funds Transaction
National Electronic Funds Transfer
National Electric Funds Transfer
National Electric Funds Transaction
The rate of dividend generally fluctuates for ______ holders.
Bank Loan
Debenture
Equity Share
Preference Share
______ means the expenditure whose benefit extends beyond the current year but doesn’t result in acquisition of permanent asset.
Capital Receipts
Deferred Revenue Expenditure
Revenue Expenditure
Capital Expenditure
55. Assertion (A): Sales at reduced prices may be organised at festivals. Reason (R): Such sales attract customers and help clear stocks.
a) Both true, and reason correctly explains assertion
b) Both true, but reason not correct explanation
c) Assertion true, reason false
d) Both false
The fixed costs are those costs which turn out to be ______ at any volume of production output.
Constant
Proportional
Which stakeholder provides employment opportunities to individuals in exchange for labour, services, or skills?
Employee
Employer
Shareholder
Consumer
Price structure affects the _______ of the firm.
Competitive position and market share
Revenue and profitability
Cost and revenue
Profitability and risk
Which of the following sales promotion techniques is best for introducing new products and increasing the sales of established products?
Prize contests
Coupons
Distribution of free samples
Bonus offer
Which of the following best describes an organization that provides all advertising-related services for a fee or commission?
Public Relations Firm
Advertising Agency
Media Buying Agency
Market Research Firm
Kiran purchased a new mobile phone from an electronics store. After a week, the phone’s screen started malfunctioning. She contacted the store for a refund as the phone was still under warranty. The store manager refused to help, claiming that Kiran had misused the device. The Consumer Forum ruled in her favour and ordered the store to replace the phone and compensate Kiran because she had the—
Right to choose
Right to safety
Right to be heard
Right to information
Which of the following refers to a cross-functional software that provides support to all the processes within an organization?
Customer Relationship Management (CRM)
Enterprise Resource Planning (ERP)
Supply Chain Management (SCM)
Business Intelligence (BI)
Cleaning and greasing office fans is an example of which type of expenditure?
Capital Expenditure
Capital Receipt
Revenue Expenditure
Revenue Receipt
The ______ provides information about the net profit earned or the net loss suffered by a business during a given accounting period.
Profit and Loss Account (or Income Statement)
Balance Sheet
Cash Flow Statement
Trial Balance
The ______ helps a business plan the quantity of goods to be produced in a specific period, based on the estimated sales and inventory levels.
Production Budget
Cash Budget
Master Budget
Sales Budget
Opening stock ₹32,000; purchases ₹1,60,000; direct expenses ₹5,000; closing stock ₹10,000. Calculate the cost of goods sold.
₹1,82,000
₹1,80,000
₹2,20,000
₹1,87,000
Investors can sell their securities at any time and convert them into cash as and when necessary. Which function of the capital market does this refer to?
Promotion of thrift
Investment avenue
Liquidity
Availability of capital
Under this source of recruitment, a notice is placed on the notice board of an educational institution specifying details of available jobs.
Advertisements
Campus Interview
Recommendations
Direct Recruitment
A shipping company insured its valuable cargo being transported from Japan to Australia. The ship encountered heavy storms, causing damage to the cargo. The insurance policy helped the company recover most of its losses, ensuring minimal financial impact. Why did the shipping company insure its cargo?
To increase profit
To protect the cargo from risks like storms
To reduce shipping costs
To ensure faster delivery
Assertion (A): The central bank is known as the lender of last resort for commercial banks. Reason (R): The central bank provides loans to commercial banks during times of financial crisis to ensure the stability of the banking system.
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
What does IMPS stand for?
Instant Money Payment Service
Immediate Mobile Payment System
The Environment Protection Act, 1986, was enacted in India primarily as a response to which major industrial disaster?
Chernobyl Disaster
Bhopal Gas Tragedy
Fukushima Nuclear Disaster
Gulf Oil Spill
Shivam paid by debit card, inserting it in a machine and entering the PIN code to transfer money to the shopkeeper. What is this machine called?
Point of Sale machine
ATM
Computerized machine
None of these
The Environment Protection Act, 1986, was enacted in India primarily as a response to which major industrial disaster?
Chernobyl Disaster
Bhopal Gas Tragedy
Fukushima Nuclear Disaster
Gulf Oil Spill
Two popular mobile wallets are:
Swiggy and Zomato
Instagram and Snapchat
Google Pay and Paytm
RTGS and NEFT
Which of the following is a function of the CPCB with regard to industrial pollution control?
To grant exemption to certain industries from environmental regulations
To monitor the discharge of pollutants into the environment
To promote the unrestricted growth of industries
To provide subsidies to industries for non-compliance with environmental regulations
What is advertising?
Publicity
Sales Promotion
Paid Information
All of the above
The following is not a function of advertising:
Information
Brand Image Building
Persuasion
Pricing
Debenture holders are:
Debtors of the Company
Creditors of the Company
External Users
Owners of the Company
Training within the industry scheme imparts training in:
Job Instructions
Job Rotation
Job Method
All of the above
