1)  In Pandiyas Dynasty the place where the goods are sold is _____ a) Angadi b) Market c) Nalangadi d) Allangadi 2) Hindrance of place is removed by ______ a) Transport b) Warehouse c) Salesman d) Insurance 3) Who wrote “Arthasasthra” ? a) Kautilya b) Kambar c) Thiruvalluvar d) Elangovadigal 4) Trade and Commerce was common to _______ Dynasty. a) Pallava b) Chola c) Panidya d) Chera 5) _______ was first sultan who paved way in the dense forest and helped traders to move from one market place to others place for their commercial caravans. a) Balban b) Vascoda Gama c) Akbar d) Alauddin Khilij 6) The Primary objective of a business is a) Making Profit b) Not Making Profit c) Special skill d) None of the above 7) Occupation of a Doctor is a) Employment b) Business c) Profession d) Sole Proprietor 8) The following does not characterise business activity?business activity? a) Production of goods and services b) Presence of Risk c) Sale or exchange of goods and services d) Salary or wages 9) Activities undertaken out of love and affection or with social service motive a) Economic activities b) Monetary activities c) Non Economic Activities d) Financial Activities 10) The industries engaged in extraction of iron ore are known as a) Construction Industries b) Manufacturing Industries c) Extraction Industries d) Genetic Industries 11) Production which involves several stages for manufacturing finished products is known as a) Analytical Industry b) Synthetic Industry c) Processing Industry d) None of the above 12) Normally high level risk involved in a) Industry b) Commerce c) Trade d) All of the above 13) Which is the oldest form of Business organisation? a) Sole Proprietorship b) Partnership c) Co-operative Society d) Company 14) In which form the owner, establisher and manager is only one? a) Joint Enterprise b) Government Company c) Co-operative Society d) Sole Proprietor 15) A major disadvantage of sole proprietor-ship is ______ a) Limited liability b) Unlimited liability c) Easy Formation d) Quick decision 16) From the following which one is Non- corporate form of business? a) Joint stock company b) Sole trading business c) Government company d) Co-operatives 17) The firm of Hindu Undivided Family is managed by whom? a) Owner b) Karta c) Manager d) Partner 18) In the firm of Hindu Undivided Family, how one gets the membership? a) By Agreement b) By Birth c) By Investing Capital d) By Managing 19) The members in the joint hindu family are called _____________ a) Karta b) coparceners c) generations d) partners 20) ‘Only the male members in the family get the right of inheritance by birth’ as ______________ a) Hindu law b) Mitakshara Law c) Dayabhaga law d) None of these 21) A partnership is formed by _______ a) agreement b) relationship among persons c) the direction of government d) Friendship 22) The relationship between outsiders and the company is defined in ______ a) Prospectus b) Articles of Association c) Memorandum of Association d) Certificate of Incorporation 23) Table A of the Companies Act is a ___________ a) Model minutes book b) Model form of Balance Sheet c) Model of AOA d) Model of MOA 24) Which of the following is created by a Special Act of Parliament or in State Assemblies? a) Chartered company b) Foreign company c) Government company d) d) Statutory company 25) The Board of directors of a company is elected by _________ a) Creditors b) Debtors c) Debenture holders d) Share holders (members) 26) Companies established as a result of a charter granted by the King or Queen of a country is called _________ a) Chartered companies b) Statutory companies c) Registered companies d) Foreign companies 27) Membership in a cooperative organization is: a) Not open to all b) Selective c) Open to all d) None of them 28) Cooperative fails because of a) Unlimited membership b) Cash trading c) Mismanagement d) Loss-making 29) All cooperatives are established with a) Philanthropic motive b) Service motive c) Profit motive d) Reform motive 30) Consumers Co-operation was first successful in _____ a) England  b) USA c) Swiss d) India 31) Rochdale society of equitable pioneers was started by ____ a) Robert owen b) H.C.Calvert c) Talmaki d) Lambert 32) A Multinational Corporation can be defined as a firm which a) is beyond the control of any government b) is one of the top 200 firms in the world c) owns companies in more than one country d) All the above 33) Centralised control in MNC’s implies control exercised by a) Branches b) Subsidiaries c) Headquarters d) Parliament 34) Enterprises operating in several countries but managed from one country is termed as ___________ a) Government company b) Multinational Company c) Private company d) Joint Venture 35) Dispersal of decision making power to branches/affiliates/subsidiaries by head office represents _________ a) Centralisation b) Decentralisation c) Power  d) Integration 36) Coca-Cola company is an example of __________ a) MNC b) Government company c) Joint Venture d) Public company 37) The share capital of the government company must not be less than a) 75 % b) 60 % c) 95 % d) 51 % 38) The oldest form of organisation in public sector a) Public Sector Undertakings b) Departmental Undertakings c) Multi National Corportions d) Statutory Corportion 39) A Government company purchases shares in the name of a) Prime Minister b) President c) Chief Justice of India d) State Chief Minister 40) The primary objective of the state enterprises is to ______ a) Earn profit b) Provide Employment c) Serve the People d) All the Above 41) Which bank has the power to issue bank notes? a) Central bank b) Commercial bank c) Co-operative banks d) Foreign banks 42) The Central bank of India is a) PNB b) SBI c) ICICI d) RBI e) (d) RBI 43) The Reserve Bank of India commenced its operations from April 1, a) 1936 b) 1935 c) 1934 d) 1933 44) Bankers are not only dealers of money but also leaders in a) Economic development b) Trade development c) Industry development d) Service development 45) Which of the following is not a function of a central bank? a) Guiding and regulating the banking system of a country b) Deal with the general public c) Acts essentially as Government d) Maintains deposit accounts of all other banks

+1 Commerce I Midterm

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