Please refer to Business Trade and Commerce MCQ Questions Class 11 Business Studies below. These MCQ questions for Class 11 Business Studies with answers have been designed as per the latest NCERT, CBSE books, and syllabus issued for the current academic year. These objective questions for Business Trade and Commerce will help you to prepare for the exams and get more marks.
Business Trade and Commerce MCQ Questions Class 11 Business Studies
Please see solved MCQ Questions for Business Trade and Commerce in Class 11 Business Studies. All questions and answers have been prepared by expert faculty of standard 11 based on the latest examination guidelines.
MCQ Questions Class 11 Business Studies Business Trade and Commerce
Question. Which one of the following is NOT the objective of the business?
(a) Investment
(b) Innovation
(c) Creation of customers
(d) Profit-making
Answer
A
Question. Commerce includes activities relating to trade and _________________ to trade.
(a) Auxiliaries
(b) Subsidiaries
(c) Supporting
(d) None of the above
Answer
A
Question. Which of the following is an economic cause of business risks?
(a) Demand for goods
(b) Competition
(c) Price
(d) All of the above
Answer
D
Question. The word marketing standing is concerned with __________
(a) Position of an enterprise
(b) Supply of the product
(c) Customers
(d) Competitors
Answer
A
Question. Which one of the following is NOT an Auxiliary to trade?
(a) Mining
(b) Warehousing
(c) Insurance
(d) Transport
Answer
A
Question. Which of the following is not concerned with the profession?
(a) Manufacturing goods and services
(b) Specialised body of knowledge and skill
(c) Code of conduct
(d) Formal Training
Answer
A
Question. Which of the following is an instrument of exchange, which was prominent in the subcontinent?
(a) Copper
(b) Hundi
(c) Gold
(d) Silver
Answer
B
Question. The industries which provide support services to other industries are known as
(a) Primary industries
(b) Commercial industries
(c) Tertiary industries
(d) Secondary industries
Answer
C
Question. The term business is derived from the word ______________
(a) Buy and selling
(b) Financial markets
(c) Proprietorship
(d) Busy
Answer
D
Question. Which of the following is not a characteristic of business activity?
(a) Wages
(b) Sale of product
(c) The factor of risk
(d) Manufacturing goods and services
Answer
A
Question. Bad debts due to non-payment of debts by debtors is an example of which type of business risk?
(a) Human
(b) Natural
(c) Physical
(d) Economic
Answer
A
Question. Memorandum of association of a firm contains _______.
(a) rules regarding the internal management of the company
(b) rules regarding the constitution and activities of the company
(c) rules regarding the external management
(d) rules regarding the constitution
Answer
B
Question. The liability of members of a co-operative society is _________.
(a) limited to the amount of nominal value of capital held
(b) limited to the amount of paid up value of the capital held
(c) unlimited
(d) limited or unlimited depending upon what the society has opted for it
Answer
D
Question. Which of the following does not characterize business activity?
(a) Production of goods & services
(b) Presence of risk
(c) Sale or exchange of goods and services
(d) Salary and wages
Answer
D
Question. Which of the following is not an example of non-economic activity?
(a) Patriotism
(b) teaching
(c) sentiment
(d) sympathy
Answer
B
Question. The industries which provides support services to other industries are known as
(a) Tertiary
(b) Secondary
(c) Manufacturing
(d) Primary
Answer
A
Question. Which of the below-mentioned item does not follow the scalar chain?
(a) Functional structure
(b) Divisional structure
(c) Formal organization
(d) Informal organization
Answer
D
Question. Tea is mainly produced in Assam; Cotton in Gujarat and Maharashtra; Jute in west Bengal and Orissa; Sugar in U.P, Bihar and Maharashtra. But these goods are required for consumption in different parts of the country. For this purpose ________ is very important.
(a) Banking and Finance
(b) Advertising
(c) Insurance
(d) Transport and Communication
Answer
D
Question. Economic activities may be classified into business, ___________ and employment
(a) Profession
(b) occupation
(c) vocation
(d) Work
Answer
A
Question. The occupation in which people work for others and get remunerated in return is known as –
(a) Business
(b) Employment
(c) Profession
(d) None of them.
Answer
B
Question. When the name of the transferee is not filled in not filled in the transfer deed, without filling in the name of the transferee it is called _______.
(a) option dealing
(b) forward dealing
(b) blank transfers
(d) carry over
Answer
C
Question. Which of the following cannot be classified as an auxiliary to trade –
(a) Mining
(b) Insurance
(c) Warehousing
(d) Transport.
Answer
A
Question. In which of the following, interest / dividend is payable even if the company does not earn profit?
(a) Equity capital
(b) Preference capital
(c) Debentures
(d) All of above
Answer
C
One word Answer type Questions :
Question. Write two examples of processing industry.
Ans. (a) Paper industry. (b) Cotton industry.
Question. Name the auxiliary to trade which removes the hindrance of exchange.
Ans. Banking and finance.
Question. Give two example of manufacturing industries.
Ans. (a) Sugar industry (b) Cotton industry.
Question. Pranshu produces goods not for the purpose of sale but for personal consumption. Will it be a business activity? Why?
Ans. No, because it does not involve sale or exchange of goods and services between the seller and the buyer.
Question. A girl helping a blind woman to cross the road is an example of which activity, economic or noneconomic?
Ans. Non-economic activity.
Question. Name the economic activity requiring special knowledge and skill.
Ans. Profession.
Question. Name the type of manufacturing industry in which a raw material is processed through various stages of production for obtaining finished products.
Ans. Processing industry.
