1) The Chairman of the National Consumer Disputes Redressal Council is ______ a) Serving or Retired Judge of the Supreme Court of India. b) President of India c) Prime Minister d) None of the above 2) The Chairman of the State Consumer Protection Council is _____ a) None of the above b) Finance Minister c) Judge of a High Court d) Chief Minister 3) The Chairman of the District Forum is______________ a) District Judge b) High Court Judge c) Supreme Court Judge d) None of the above 4) The State Commission can entertain complaints where the value of the goods or services and the compensation, if any claimed exceed a) `2 lakhs but does not exceed `5 lakhs b) `20 lakhs but does not exceed `1 crore c) `3 lakhs but does not exceed `5 lakhs d) `4 lakhs but does not exceed `20 lakhs 5) The International Organisation of Consumers Unions (IOCU)was first established in a) 1960 b) 1967  c) 1965 d) 1987 6) VUCA stands for ____, _____,_____,______. a) All of the above b) Volatility, Uncertainty, Complexity and Ambiguity  c) Value, Unavoidable, Company and Authority d) Volatility, Uncontrollable, Company and Auction  7) GST stands for ______,______,______. a) Goods and Salary Tax b) Goods and Social Tax c) Goods and Service Tax d) Goods and Sales Tax 8) Factors within an organisation constitutes _________ environment. a) All of the above b) Internal Thinker c) External Thinker d) Fellow human beings 9) Macro Environment of business is an _________ factor. a) Immanageable b) Uncontrollable c) Controllable d) Manageable 10) The two major types of business environment are _______ and ___________. a) Allowable and Unallowable b) Positive and Negative c) Internal and External d) Good and Bad 11) __________ is the result of New Industrial Policy which abolished the ‘License System’. a) None of these b) Globalisation c) Privatisation d) Liberalisation 12) ___________ means permitting the private sector to setup industries which were previously reserved for public sector. a) Public Enterprise b) Liberalisation c) Privatisation d) Globalisation 13) ____________ ownership makes bold management decisions due to their strong foundation in the international level. a) MNC’s b) Private c) Public d) Corporate 14) __________ results from the removal of barriers between national economies to encourage the flow of goods, services, capital and labour. a) Foreign Trade b) Privatisation c) Liberalisation d) Globalisation 15) New Economic Policy was introduced in the year _______. a) 2015 b) 1980 c) 1991 d) 2013 16) Sale of Goods Act was passed in the year a) 1960 b) 1940 c) 1997 d) 1930 17) Which of the below constitutes the essential element of contract of sale? a) All of the above b) Two parties c) Transfer of property d) Price 18) Which of the below is not a good? a) Water b) Stocks c) Dividend due d) Crops 19) In case of the sale, the ____ has the right to sell a) Consignee b) Buyer c) Seller d) Hirer 20) The property in the goods means the a) Possession of goods and Custody of goods b) Possession of goods  c) Custody of goods d) Ownership of goods 21) Negotiable Instrument Act was passed in the year ______. a) 1818 b) 1981 c) 1881 d) 1994 22) Number of parties in a bill of exchange are a) 4 b) 2 c) 6 d) 3 23) Section 6 of Negotiable Instruments Act 1881 deals with a) None of the above b) Promissory Note c) Bills of exchange d) Cheque 24) _______ cannot be a bearer instrument. a) None of the above b) Cheque c) Promissory Note d) Bills of exchange 25) A cheque will become stale after _____ months of its date: a) 1 b) 3 c) 4 d) 5 26) Which of the below is a factor of production? a) Land b) Entrepreneurship c) Labour d) All of the above 27) Entrepreneur is not classified as a) Risk Bearer b) Innovator c) Employee d) Organizer 28) What are the characteristics of an entrepreneur? a) Spirit of enterprise b) Self Confidence c) Flexibility d) All of the above 29) Which of the below is not classified into managerial functions? a) Planning b) Organizing c) Marketing d) Controlling 30) Which of the below is a commercial function? a) Accounting b) Discovery of idea c) Coordination d) Planning 31) Which of the following is the Activity of a Business Entrepreneur? a) Production b) Operation c) Marketing d) All of the above 32) Find the odd one out in context of Trading Entrepreneur. a) Selling b) Buying c) Commission d) Manufacturing 33) Corporate Entrepreneur is also called as _____ a) Intrapreneur b) Manager c) Promoter d) Shareholder 34) Which of these is based on Technology? a) Modern b) Professional c) Corporate d) Industrial 35) Which of the below is not a Characteristic of a Fabian Entrepreneur? a) Conservative b) Sceptical c) Risk averse d) Adaptive 36) The ___________ initiative was launched to modernize the Indian economy to make all governments services available electronically. a) Standup India b) Startup India c) Digital India d) Make in India 37) ________ is designed to transform India to a global design and manufacturing hub. a) Digital India b) Startup India c) Make in India d) Design India. 38) ___________ is the Government of India’s endeavour to promote culture of innovation and entrepreneurship. a) AIM b) STEP c) SEED d) AIC 39) ___________ should cover aspects like sources of finance, technical know-how, source of labour and raw material, market potential and profitability. a) Technical Report b) Finance Report c) Project Report d) Progress Report 40) ____________has to include the mechanism for managing venture in the project report. a) Banker b) Government c) Lending Institutions d) Entrepreneur 41) The Company will have to issue the notice of situation of Registered Office to the Registrar of Companies within _____ days from the date of incorporation. a) 14 days b) 21 days c) 30 Days d) 60 Days 42) How does a person who envisages the idea to form a company called? a) Director b) Company Secretary c) Registrar d) Promoter 43) Which of the following types of shares are issued by a company to raise capital from the existing shareholders? a) Equity Shares b) Rights Shares c) Preference Shares d) Bonus Shares 44) The shares which are offered to the existing shareholder at free of cost is known as ___________. a) Bonus Share b) Right Share c) Preference Share d) Equity Share 45) The shares which are offered first to the existing shareholder at reduced price is known as _____________. a) Bonus Share b) Equity Share c) Right Share d) Preference Share 46) A person Shall hold office as a director in ________ companies as per the Companies Act, 2013. a) 5 companies b) 10 companies c) 20 companies d) 15 companies 47) A Private Company shall have a minimum of ________. a) Seven directors b) Three directors c) Five directors d) Two directors 48) A Public Company having a paid up Share Capital of Rs. ___________ or more may have a Director, elected by such small shareholders. a) One crore b) Three crores c) Five crores d) Seven crores 49) What is the statue of Directors who regulate money of the company. a) Banker b) Holder c) Agent d) Trustees 50) According to Companies Act, the Directors must be appointed by the. a) Central Government b) Company Law Tribunal c) Company in General Meeting d) Board of Directors 51) Mention the status of a Company Secretary in a company. a) A member b) An independent contractor c) A director d) An employee 52) Who can become a secretary for a company? a) Individual person b) Co-operative societies c) Partnership firm d) Trade unions 53) Which meeting will be held only once in the life time of the company? a) Statutory b) Class General c) Annual General d) Extra - ordinary 54) Who is not entitled to speak at the annual general meeting of the company. a) Auditor b) Proxy c) Shareholder d) Directors 55) From the date of its incorporation the First Annual General Meeting is to be conducted within __________ months. a) Twelve b) Eighteen c) Twenty one d) Fifteen

+2 Commerce Lesson 18 - 28 Prepared by M.MuthuSelvam Cell No: 9842104826

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