Prepared by Muthu Selvam Madurai Cell : 9842104826
In Pandiyas Dynasty the place where the goods are sold is _____
Angadi
Nalangadi
Allangadi
Market
Retailers deal in ____________ quantity of goods
Small
Large
Medium
Limited
The main benefit of outsourcing is
Cost reduction
Skill
Units
Productivity
Who wrote “Arthasasthra” ?l
Market
Nalangadi
Allangadi
Kautilya
_______ was first sultan who paved way in the dense forest and helped traders to move from one market placeto others place for their commercial caravans.
Vascoda Gama
Akbar
Balban
Alauddin Khilij
Consumers Co-operation was first successful in _____
USA
Swiss
India
England
Which one of the following is a type of marine insurance?
Hull Insurance
Money Back Policy
Cargo Insurance
both Cargo & Hull Insurance
The Primary objective of a business is
Not Making Profit
None of the above
Making Profit
Special skill
Trade middleman who acts as a link between wholesaler and customers refers to a -----------.
Retailer
Broker
Producer
Customer
The following does not characterise business activity?
Presence of Risk
Sale or exchange of goods and services
Production of goods and services
Salary or wages
Trade and Commerce was common to_______ Dynasty.
Market
Pallava
Allangadi
Nalangadi
On the valid performance of the contractual obligations by the parties, the contract
Becomes legal
the direction of government
agreement
Friendship
A partnership is formed by _______
relationship among persons
the direction of government
agreement
Friendship
On the valid performance of the contractual obligation by the parties, the contract
Becomes enforceable
Becomes void
None of these
Is discharged
The industries engaged in extraction of iron ore are known as
Genetic Industries
Manufacturing Industries
Extraction Industries
Construction Industries
Normally high level risk involved in
Commerce
Industry
Trade
All of the above
A contract with or by a minor is a
Valid contract
Void contract
Voidable at the option of either party
Voidable contract
In which form the owner, establisher and manager is only one?
Joint Enterprise
Government Company
Co-operative Society
Sole Proprietor
EPC stands for
Export Promotion Council
Export Carriage council
Export processing commission
Export Promotion Congress
In India GST became effective from?
1st January, 2017
1st March, 2017
1st July, 2017
1st April, 2017
Public deposits are the deposits which are raised directly from ______
The public
The owners
The directors
The auditors
Acceptance to be valid must
Be unqualified
Be absolute
Both be absolute & unqualified
Be conditional.
From the following which one is Noncorporate form of business?
Sole trading business
Joint stock company
Co-operatives
Government company
The aim of home trade is ------------------.
To provide the essential goods and services economically
To obtain all types of goods.
To raise the standard of living
To raise the national income
The Board of directors of a company is elected by _________
Debenture holders
Debtors
Creditors
Share holders (members)
The firm of Hindu Undivided Family is managed by whom?
Partner
Karta
Manager
Owner
MSMEs are important for the nation’s economy because they significantly contribute to
exports
industrial production
employment
all the above
In the firm of Hindu Undivided Family, how one gets the membership?
By Investing Capital
By Birth
By Managing
By Agreement
‘Only the male members in the family get the right of inheritance by birth’ as______________
Hindu law
Mitakshara Law
None of these
Dayabhaga law
Which of the following is not a function of a central bank?
Deal with the general public
Acts essentially as Government banker
Guiding and regulating the banking system of a country
Maintains deposit accounts of all other banks
The relationship between outsiders and the company is defined in ______
Articles of Association
Certificate of Incorporation
Prospectus
Memorandum of Association
The members in the joint hindu family are called _____________
partners
Karta
coparceners
generations
Which of the following is created by a Special Act of Parliament or in StateAssemblies?
Chartered company
Foreign company
Statutory company
Government company
Membership in a cooperative organization is
Selective
Not open to all
Open to all
None of them
An agreement to do an act impossible in itself under Section.56 is
Void
Valid
Voidable
Unenforceable
All cooperatives are established with
Philanthropic motive
Service motive
Reform motive
Profit motive
Goods are imported for purpose of re-export to another country is termed as_________.
Import Trade
Export Trade
International trade
Entrepot Trade
----------buy the goods from the producer and sell it to the retailers.
Wholesaler
Retailer
consumers
Manufacturer
Depositary receipts that are traded in an international market other than the United States are called
Open Market Depositary Receipts
International Depositary Receipts.
Global Depositary Receipts
Special Drawing Rights
Socially Responsible business provides goods at
low price
high price
moderate price
reasonable price
Rochdale society of equitable pioneers was started by ____
H.C.Calvert
Lambert
Talmaki
Robert owen
World bank is located at
Tokyo
Washington DC
Hongkong
New York
Balance of payments surplus indicates
Exports are more than the Imports
Exports and Imports are at Equilibrium
Exports and Imports are above Equilibrium
Imports are more than Exports
There are ______ distinct modes of credit to Self Help Groups.
2
4
1
3
Companies established as a result of a charter granted by the King or Queen of a country is called _________
Registered companies
Foreign companies
Statutory companies
Chartered companies
The share capital of the government company must not be less than
95 %
51 %
75 %
60 %
Foreign capital long- term loan and foreign currency reserve are recorded under
Official Capital
Banking Capital
Private Capital
Both Private and Official Capital
Hindrance of place is removed by______
Market
Transport
Allangadi
Nalangadi
The primary objective of the state enterprises is to ______
Provide Employment
All the Above
Serve the People
Earn profit
A continuing relationship which provides a licence privileges to do business and provides training, merchandising for a consideration is called ____________
Factoring
Franchising
Exchange
Supply Chain Management
Air consignment note is prepared in _____ forms
Four
One
Three
Two
The aggregate income under five heads is termed as
Total Income
Salary Income
Business Income
Gross Total Income
The Central bank of India is
SBI
RBI
PNB
ICICI
Bankers are not only dealers of money but also leaders in
Industry development
Service development
Trade development
Economic development
Production which involves several stages for manufacturing finished products is known as
None of the above
Synthetic Industry
Processing Industry
Analytical Industry
Which bank has the power to issue bank notes?
Commercial bank
Central bank
Co-operative banks
Foreign banks
The purchase of goods from a foreign country is called----------
Import
Entrepot
Export
Re-export
A person is said to be a third person if he is not a
agent
promise
Legal Representative
promisor
An organization carrying out activities to move goods from producer to consumer is
Channels
Logistics
Transport
Marketing
Which bank is not a Industrial Bank?
ICICI
SIDBI
HSBC
IDBI
Foreign banks are begun their operation since
1980
1979
1981
1978
Electronic banking can be done through
All of the above
Computers
ATM
Mobile phones
The ethical conduct of employees leading to standard practices results in
bad behaviour
good behaviour
ethical behaviour
correct decision making
Minimum how much amount can be transferred through RTGS?
Any amount
5 lakh
2 lakh
50,000
The term official capital includes
Special Drawing Rights held by the Government
RBI holdings of foreign currencies
RBI holdings of foreign currencies and Special Drawing Rights held by the Government
Foreign Investment
WTO was estabilished on
1-1-1997
1-1-1996
1-1-1995
1-1-1994
Which of the following persons can perform the contract?
Legal representatives of promisor
Promisor alone
All the above
Agent of the promisor
In which kind of account, it is compulsory to deposit certain amount at certain time?
Saving deposit
Current deposit
Fixed deposit
Recurring deposit
Warehouses remove the hindrance of ______________
Time
Risk
Knowledge
Person
GST Stands for
Goods and Supply Tax
General Sales Tax
Goods and Services Tax
Government Sales Tax
The Statement which discloses a record of transactions between the residents of one country and residents of foreign country.
Balance of Payment
Accounting Statement
Statement of Receipts and Payments
Balance of Trade
Every promise and every set of promises, forming the consideration for each other, is an
Acceptance
Agreement
Offer
Contract
________can be given as a collateral security for getting financial assistance from bank.
Warehouse receipt
Dock warrant
Dock receipt
Warehouse warrant
_________ warehouses are used for storing perishable goods like fruits, vegetables etc.
Bonded
Cold storage
Co-operative
Private
The Reserve Bank of India commenced its operations from April 1,
1935
1933
1936
1934
____ warehouses are licensed by the government and are permitted to accept the goods on bond.
Cold Storage
Bonded
All the Above
Public
Transport removes the hindrance of
Time
Place
Knowledge
Person
The largest commercial bank of India
SBI
ICICI
PNB
RBI
Self help groups convert the savings into a common fund known as
Group corpus fund
Group fund
none of the above
Common fund
General Agreement on Tariff and Trade was signed on
26-October-1947
29-October-1947
30-October-1947
28-October-1947
Which is the fastest means of transport?
Rail
Sea
Road
Air
______ is not a type of general insurance
Life Insurance
Fidelity Insurance
Marine Insurance
Fire Insurance
The ------------------- receipt is an acknowledgement of receipt of goods on the ship issued by the Captain
Bill of Lading
Shipping Bill
Consular Invoice
Mate’s Receipt
Which of the following in not applicable in insurance contract?
Conditional contract
Indemnity contract
Unilateral contract
Inter-personal contract
The oldest form of organisation in public sector
Public Sector Undertakings
Departmental Undertakings
Statutory Corportion
Multi National Corportions
A major disadvantage of sole proprietor-ship is ______
Easy Formation
Quick decision
Unlimited liability
Limited liability
MSMED Act was enacted in the year
2008
2006
2004
2007
Buying and selling of goods through electronic network is known as _____
Website
E-commerce
internet
Trade
Which of these parties cannot demand performance of promise?
Any of the Joint Promisees
On the death of a Promisee, his Legal Representative
Stranger to the Contract
Promisee
The main benefit of Logistics is
Storage
Cost Minimisation
Productivity
Profitability
What kind of Tax the GST is?
Dependence on the Type of Goodsand Services
Direct Tax
Indirect Tax
All Business Organisations
Assuming Social Responsibility of business helps the enterprise in
Sustainability
Equilibrium
Decrease profit
Increase profit
The Stakeholders of Socially Responsible business units are except
Employees
Company
Government
Share Holders
Cooperative fails because of
Cash trading
Unlimited membership
Loss-making
Mismanagement
Social Responsibility towards employees represents the following except
Social security
proper facilities
reasonable remuneration
exploitation
Merchant middlemen can be classified into ---------- categories.
Three
Two
Four
Five
Ethics is important for
Middle level managers
All of them
Non managerial employees
Top management
The role of top management is to guide the entire organisation towards
Organisavtion behaviour
Individual behaviour
General behaviour
Ethically upright behaviour
What is IGST?
Indian Goods and Service Tax
Integrated Goods and Service Tax
Initial Goods and Service Tax
All the Above
What is defined as the provision of money at the time when it is required?
finance
bank
none of these
cash management
Movement of goods , services, intellectual property, human assets, technology and so on among the countries.
International Trade
International business
Entrepot Trade
Internal trade
Debenture holders are entitled to a fixed rate of ___________
Dividend
Profits
Interest
Ratios
Equity shareholders are the __________ of a company
Owners .
Debtors
Employees
Creditors
An instrument representing ownership interest in securities of a foreign issuer is called ___________
an ownership certificate
a depositary receipt.
None of the above.
an ownership receipt
ADRs are issued in
China
The USA
Canada
India
Issuance of DRs is based on the increase of demand in the
Local market
All of the above
Existing shareholders
International market
Discharge by mutual agreement may involve
Rescission
All of the above
Alteration
Novation
__________ bond is a special type of bond issued in the currency other than the home currency.
Foreign Currency Convertible Bond
Government Bonds
Lending Funds
Protection of life
Which of the following is not a function of insurance?
Risk sharing
Capital formation
Lending Funds
Protection of life
Investment limit of a micro enterprise under manufacturing sector does not exceed__________ lakhs
25
20
10
50
The Local Area Banks are promoting
Business savings
Industrial development
Rural savings
Agricultural development
Movement of goods , services among the countries.
International business
International Trade
Internal trade
Entrepot Trade
---------- acts as a connective link between the producer and the consumer.
Business
Commerce
Trade
Industry
Which is the oldest form of Business organisation?
Company
Sole Proprietorship
Partnership
Co-operative Society
Internal trade can be classified into ----------categories
Three
Two
Four
Five
Who is the first middleman in the channel of distribution?
Producer
Customer
Wholesaler
Retailer
---------- are agents who merely bring the buyer and the seller into contact.
Commission agent
Broker
stockiest
Selling agent
Period of assessment year is
1st March to 28th Feb
1st July to 30th June
1st Jan. to 31st Dec
1st April to 31st March
Small shops which deal in a particular line of products are called as _____
Street stalls
Single line stores
Sugar market
Market traders
_____are mobile traders who deal in low priced articles with no fixed place of business.
Super markets
Shopping malls
Street stalls
Itinerant traders
Which of the following does not ensure effective ethical practices in a business enterprise
Establishment of compliance mechanisms
Involvement of employees
Publication of a code
none of them
When goods are imported for the purpose of export it is called as-----------.
Trade
Home Trade
Foreign Trade
Entrepot
A warehouse holds goods as a __________ center.
sorting
Marketing
distribution
selling
Who is the chairman of the GST council?
President of India
Finance Minister
RBI Governor
Prime Minister
Selling of goods from home country to foreign country is called
Entrepot Trade
Joint Venture
Home Trade
Foreign Trade
STC is expansion for
State Trading Corporation
State Training Council
State Trading Centre
State Training Centre
An ------------- is document prepared by importer an sent to the exporter to buy the goods
Enquiry
Indent
Invoice
Charter Party
Activities undertaken out of love and affection or with social service motive are termed as:
Monetary activities
Non Economic Activities
Financial Activities
Economic activities
Occupation of a Doctor is
None of the above
Employment
Special skill
Not Making Profit
Any agreement which becomes impossible to perform under various circumstances
Void
None of these
Voidable
Valid
A Government company purchases shares in the name of
Prime Minister
President
State Chief Minister
Chief Justice of India
Internal sources of capital are those that are __________________
generated through issue of shares
generated within the business
generated through loans from commercial banks
generated through outsiders such as suppliers
Which of the following helps in maximising sale of goods to society?
Professional management
Ethics
laws and regulations
Business success
Agricultural income earned in India is
Fully Exempted
Not Considered for Income
Fully Taxable
None of the above
The Exporters appoint the ------------- agent to fulfill the customs formalities
Forwarding Agent
Commission Agent
Clearing Agent
Factor
An agreement enforceable by law is a
Enforceable acceptance
Accepted offer
Approved promise
Contract
The headquarter of WTO is located at
London
Brazil
New York
Geneva
The day to day administration of WTO is entrusted with
General Council
Administrative Council
Executive Council
General Body
The Balance of Payments councils consists of
Capital Account
Current Account
Both Current Account and Capital Account
Receipts and Payments Account
Void agreement signifies
Agreement against public policy
Agreement not enforceable by laW
Agreement violating legal procedure
Agreement illegal in nature
__________ is a document acknowledging the receipt of goods by a carrier
Consignment note
Charter party
Waybill
Bill of lading
Which type of Responsibility gives the benefit to the Society out of its profits earned?
Ethical
Moral
Legal
Economic
The basic principle of insurance is ________
Co-Operation
Insurable Interest
Subrogation
Proximate causa
A, B, C jointly promised to pay ₹ 50,000 to D. Before performnce of the contract, C dies. Here, the contract
Becomes void on C’s death
Should be performed by A and B along with C’s legal representatives
Should be performed by A and B alone
Should be renewed between A, B and D
Table A of the Companies Act is a______
Model of MOA
Model minutes book
Model of AOA
Model form of Balance Sheet
Small scale Fixed retailers include __________
General stores
Pedlars
Cheap Jacks
Hawkers
The year in which income is earned is known as
Previous Year
Assessment Year
Calendar Year
Light Year
Which of the following is not a type of advance provided by commercial bank?