BUSINESS STUDIES

CLASS –XI
Q1. Which of the following is a characteristic related to employment?
a. Production of goods and services
b. Presence of risk
c. Sale or exchange of goods
d. Salary or wages
Q2. Which of the following cannot be classified as an objective of business?
a. Investment
b. Productivity
c. Innovation
d. Profit earning
Q3. The owner is rewarded for conducting business and bearing the risk. What is
the form of reward the owner receives?
a. Remuneration
b. Commission
c. Bonus
d. Profit
Q4. Business risk is not likely to arise due to:
a. Changes in government policy
b. Good management
c. Employee dishonesty
d. Power failure
Q5. The occupation activity in which specialized knowledge is required
a. Business
b. Employment
c. Profession
d. None of these
Q6. The economic activity in which specialized knowledge is required
a. Business
b. Employment
c. Profession
d. None of these
Q7. Business earn profit for:
a. Income
b. Growth
c. Risk taking
d. All of them
Q8. Which of the broad categories of industries covers oil refinery and sugar
mills?
a. Primary
b. Secondary
c. Tertiary
d. None of them
Q9. Which of the following cannot be classified as an auxiliary to trade?
a. Mining
b. Insurance
c. Warehousing
d. Transport
Q10. This business risk cannot be insured
a. Fire in a factory
b. Foreign exchange fluctuations
c. Accidental damage of assets
d. Shipment of goods through sea
Q11. This removes the hindrance of persons
a. Trade
b. Transporation
c. Communication
 d. Advertising
Q12. The business objective related to market share of a company
a. Earning of profits
b. Market standing
c. Survival
d. Productivity
Q13. The structure in which there is a separation of ownership and management
is called
a. Sole proprietorship
b. Partnership
c. Company
d. All business organization
Q14. The karta in Hindu family business
a. Limited ability
b. Unlimited ability
c. No liability for debts
d. Joint liability
Q15. The board of directors of a joint stock company is elected by
a. General public
b. Government bodies
c. Shareholders
d. Employees
Q16. The maximum number of partners in the banking business are
a. Twenty
b. Ten
c. No limit
d. Two
Q17. Profits do not to be shared. This statement refers to
a. Partnership
 b. Joint Hindu family business
c. Sole proprietorship
d. Company
Q18. The capital of a company is divided into number of parts. Each part is called
a. Dividend
b. Profit
c. Interest
d. Share
Q19. Provisions of residential accommodation to the members at reasonable
rates is the objective of
a. Producer's cooperative
b. Consumer's cooperative
c. Housing cooperative
d. Credit cooperative
Q20. Everyone knows that he/she is a partner in the business
a. Active partner
b. Sleeping partner
c. Nominal partner
d. Secret partner
Q21. The maximum number of members in a One Person Company are
a. One
b. Two
c. Fifteen
d. Unlimited
Q22. The minimum number of directors in a Private Ltd. Company is:
a. 7
b. 5
c. 2
d. 3
Q23. The minimum number of directors in a Public Ltd. Company is:
 a. 7
b. 5
c. 2
d. 3
Q24. Minimum number of members to form a public company is
a. 7
b. 5
c. 2
d. 3
Q25. Application for approval of a name of a company is to be made to
a. SEBI
b. Registrar of companies
c. Government of India
d. State government in which company is registered