MCQExams
0:0:1
CBSE
JEE
NTSE
NEET
Practice
Homework
×
CBSE Questions for Class 11 Commerce Business Studies Business Services Quiz 2 - MCQExams.com
CBSE
Class 11 Commerce Business Studies
Business Services
Quiz 2
Report Question
0%
Both Assertion and Reason are correct and Reason is the correct explanation for Assertion
0%
Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion
0%
Assertion is correct but Reason is incorrect
0%
Both Assertion and Reason are incorrect
Explanation
Plastic money has been replacing the cash for various reasons. One of the major reasons is that the plastic card can be used almost everywhere. The number of card-swiping terminals has gone up drastically. It also eliminates the loss of interest on money in the Bank Account, as cash need not be withdrawn frequently. The trend in the use of plastic money leads to further development, which could be a satellite networking.
RBI, being the banker's bank, encourages the use of electronic banking to achieve a 'cash-less' society as it facilitates safe, secure transactions for an enhanced user experience.
Hence it can be said that plastic money is replacing the paper money with the help of e-banking measures laid down by RBI.
Differential rate of interest scheme was introduced in India in ______.
Report Question
0%
1972
0%
1975
0%
1977
0%
1980
Explanation
Differential rate of interest scheme was implemented in all the commercial banks in India. Under this scheme, a few eligible people would get loans at concessional rates for their business. This scheme was intended to help people who are below poverty line and would help them to raise their standard of living.
Motives are influenced by________.
Report Question
0%
culture
0%
socio-economic background
0%
personality
0%
all of the above
Explanation
Motives are influence by :-
According to Oxford dictionary, a motive is a reason for doing something, Also Motivations can be defined as the arising force behind all the actions of an individual. The influence of an individuals needs and dervies both haved a strong impact on the direction of their behavior where are highly dependent on culture, socio, economucal, political, geographical, personality and other ambitious in life.
Ans : - $$(D)$$ All the above
The real determinant of buying in income and saving theory is?
Report Question
0%
Purchasing power
0%
Maximum satisfaction
0%
Stimulation of want
0%
Income
Explanation
The real determinant of buying in income and saving theory is :- PURCHASING POWER.
As Purchasing Power is dependent on disposable income, i.e. , income left after payment of tax and savings.
Source :- Consumer behavior Theories,pdf. (Bangladehs Open University).
The Imperial Bank of India was renamed as State Bank of India in _______.
Report Question
0%
1947
0%
1949
0%
1950
0%
1955
Explanation
The Imperial Bank of India was established in 1921, being the oldest and the largest bank in India. the Imperial Bank of India carried out all the normal commercial bank's activities and until 1935, when central banking institution in India was not established, it also performed the activities of Central bank.
Match the items of List-I with the items of List-II and select the correct answer:
List-I
List-II
(i) Debit card
(a) Several storage
(ii) Credit card
(b) Online recovery of amount
(iii) Electronic purse
(c) Image processing use
(iv) Cheque function
(d) Revolving credit
Report Question
0%
$$(i) - (c), (ii) - (a), (iii) - (d), (iv) - (b)$$
0%
$$(i) - (b), (ii) - (d), (iii) - (a), (iv) - (c)$$
0%
$$(i) - (d), (ii) - (c), (iii) - (a), (iv) - (b)$$
0%
$$(i) - (d), (ii) - (c), (iii) - (b), (iv) - (a)$$
Explanation
A debit card is used for online banking. Information about the card can be used by a fraudster if the user shares confidential information related to the card. In case of loss of money, a request of recovery of the money is made to the respective bank in which the user holds the account.
A Credit Card with Revolving Credit facility can be used multiple times till the prescribed limit as long as the account is active and the credit restoration (paying back the money borrowed).
Electronic Purse is the store of value.
Image of a 'crossed' cheque is taken during the 'clearing' process followed by the bank.
Transaction of internet banking excludes _________.
Report Question
0%
withdrawal of cash anywhere in India
0%
statement of account for a specific period
0%
transfer of funds from one account to another account
0%
balance enquiry
Explanation
Internet banking can be used for transacting online and has the limitation that cash cannot be withdrawn through the platform. The technology does not support cash withdrawal using internet banking. Internet banking facilitates downloading or viewing the statement of accounts, transferring funds from one account to another, and balance enquiry.
It can thus be concluded that cash withdrawal is not supported through internet banking.
Commercial banks _________.
Report Question
0%
lend on the basis of proper credit appraisal
0%
determine the quantum of credit
0%
study other important aspects
0%
All the above
Explanation
D
The commercial banks are governed by the Indian Banking Regulation Act, 1949.
They accept deposits
from the public and
lend money for the purpose of investment.
Before lending the money the commercial banks check the credit score of the borrower in order to ensure whether he will be able to repay the loan or not.
It is also their duty to decide the quantum of credit on the basis of repayment capacity of the borrower.
Which of the following is not a function of insurance?
Report Question
0%
Risk sharing
0%
Assist in capital formation
0%
Lending of funds
0%
None of the above
Explanation
Insurance is a means of protection from financial loss. It is a form of risk management primarily hedged against any uncertain future loss. The functions of insurance are risk sharing, assisting in capital formation, economic progress, etc. Lending of funds is not a function of insurance. It is a function of banks.
What is OTP in credit card transactions?
Report Question
0%
Odd Transaction Password
0%
Owner's Trading Passcode
0%
One Time Password
0%
One Time Pincode
Explanation
An OTP or one-time password or one-time pin is a password that is valid for only one login session or transaction, on a computer system or other digital device. It avoids a number of shortcomings that were associated with traditional password-based authentications. The most important advantage of OTP is that it is not vulnerable to replay attacks. This implies that an intruder who records an OTP that was already used to conduct a transaction will not be able to abuse it, as it will be no longer valid.
Hence, option (C) is the correct answer.
Commercial banks introduced credit card facility in the early _______.
Report Question
0%
1950's
0%
1960's
0%
1970's
0%
1980's
Explanation
The commercial banks introduced credit card facility in the early 1980's. A credit card is a card which is issued to the user or the cardholder by the bank to enable him to pay a seller for goods and services even if he does not have sufficient balance in his bank account. A credit card holder needs to pay the amount withdrawn from the credit card along with some charges to the bank at the end of each month. It is a kind of credit facility extended by the banks to the customers.
The benefits of public warehousing includes _________.
Report Question
0%
Control
0%
Flexibility
0%
Dealer Relationship
0%
None of the Above
Explanation
A public warehouse is a business that provides short or long term storage facility to companies on a month-to-month basis. It not only provides storage facility but also offers inventory management, physical inventory counts etc. Hence the benefit is that it is very much flexible.
According to Banking Companies Amendment Act 1994, the Government's share in the paid up capital of public sector banks has been reduced to _____.
Report Question
0%
40 per cent
0%
45 per cent
0%
51 per cent
0%
65 per cent
Explanation
According to Banking Companies Amendment Act 1994, the Government's share in the paid up capital of public sector banks has been reduced to 51%. This means, public sector should minimum hold the government's 51% share. For example: State Bank of India.
DTH services are provided by _______.
Report Question
0%
Transport Companies
0%
Banks
0%
Cellular Companies
0%
None of the Above
Explanation
DTH stands for Direct-to-home television. It is defined as the reception of satellite programmes with a personal dish in an individual home. Only cable operators can receive the satellite programmes which are transferred by them to individual homes. Hence, DTH services are provided by cellular companies.
E-banking promote ________.
Report Question
0%
internal trade
0%
international trade
0%
pollution-free societies
0%
all of the above
Explanation
E-banking lets the customer carry out cashless transaction through internet within a country, region and locality as well as across borders and continents which can be referred as international trade.
What is the advantage of E-banking system?
Report Question
0%
The use of cheque is very much minimised
0%
The banking operations are done throughout the day
0%
Global transactions are made much more easy
0%
All the above
Explanation
Electronic Banking helps with direct transaction of funds from one bank account to another which indirectly reduces the usage of cheque and related activities. E-banking system is available 24x7, this helps the consumer to operate according to their convenience. It is operational word wide and hence makes global transactions easier.
A credit facility is required to be treated as non-performing (NPI) _______.
Report Question
0%
if interest or installment of principal are in arrears for any two quarters in the accounting year
0%
if interest of principal are in arrears for any two quarters in the accounting year
0%
if installment of principal are in arrears for any two quarters in the accounting year
0%
none of the above
Explanation
A credit facility is required to be treated as non-performing(NPI) if interest or installment of principal are in arrears for any two quarters in the accounting year. In NPI, credit facilities granted to the borrower is to be treated as non-performing assets.
Written communication is called _________.
Report Question
0%
compliments
0%
consideration
0%
correspondence
0%
none of these
Explanation
C. correspondence
A written communication is usually in the form of a letter and is called business correspondence. It is a way by which any person who is related to the business expresses oneself.
He may also ask any doubts or queries through business correspondence. Any correspondence between two organizations or within an organization is referred to as business correspondence.
For example, a letter to the supplier, letter of inquiry, complaint letters, job applications, etc.
The variables associated with credits policy are _____________.
Report Question
0%
Credit standards
0%
Credit period
0%
Cash discount
0%
Collection program
0%
All of the above
Explanation
Credit policy encompasses the policy of a company in respect of the credit standards adopted, the period over which credit is extended to customers any incentive in the form of cash discount can be utilized by the customers and the collection effort made by the company.
State the following statement is True or False:
The intimation to members stating the day, date, time and place of meeting is known as notice.
Report Question
0%
True
0%
False
Explanation
Notice means an invitation in writing to the concerned persons for attending the meeting. Preparing and serving notice is an essential requirement of a valid meeting. When any information needs to get delivered to all the members of the organization, then notice is written to inform about the necessary details like day, time, venue, etc.
Hence, the following statement is true.
Which of the following is not applicable in life insurance contact?
Report Question
0%
Conditional contract
0%
Unilateral contract
0%
Indemnity contract
0%
None of these
Explanation
The contract of indemnity is defined as, " A contract where one party promises to save the other from the loss caused by the conduct of the promisor himself or by the conduct of any other party." In a life insurance contract, nobody can save the life of the person. Hence, contract of indemnity does not apply here.
The general insurance corporation of India established under the ____________________.
Report Question
0%
Indian Companies Act,1956
0%
Banking Regulation Act,1949
0%
General Insurance Corporation of India Act,1972
0%
Life Insurance Corporation of India Act, 1956
The person who presides over the meeting is called ___________.
Report Question
0%
Director
0%
Secretary
0%
Chairman
0%
None of these
Explanation
Section 118 of the Companies Act refers to minutes of proceedings of general meetings and of Board and other meetings. It prescribes that the Chairman has to conduct the meeting of its Board of Directors and about the power of Chairman on inclusion of matters in minutes of meeting. With reference to the provisions of the Act and as stated in Articles of Association, as a matter of practice, the Chairman of a Company presides over the meetings of the board.
State the following statement is True or False:
The proxy is allowed to vote only in poll method of voting.
Report Question
0%
True
0%
False
Explanation
Being a member of a company, he/she acquires the right to vote at a company meeting. Member can also appoint a person as 'proxy' to attend the meeting on his/her behalf. A proxy does not earn all the rights of a member. However, the proxy shall have the right to vote at the meeting through a poll.
A list of items to be transacted at the meeting is called ____________.
Report Question
0%
Agenda
0%
Prospectus
0%
Share Certificate
0%
None of these
Explanation
Agenda is the list of activities/business to be transacted in a meeting. It also sets out the order of these activities.
Prospectus means any document described or issued as a prospectus and includes a red-herring prospectus or shelf prospectus or any notice, circular, advertisement or other document inviting offers from the public for the subscription or purchase of any securities of a body corporate.
A Share Certificate is a document issued by the company to evidence the ownership of the person named in the Certificate with respect to the number of shares of the company as specified in the Certificate.
State the following statement is True or False:
A method of voting where members can vote in proportion to the number of shares held is called poll.
Report Question
0%
True
0%
False
Explanation
As per Section 109, a poll may be demanded by such a number of members holding, shares worth a minimum value of Rs. Five Lakh or 10% voting power in the Company.
All the members in person or by proxy at a meeting have their voting right in a poll in proportion to the number of shares held by each of them.
Hence, the following statement is true.
State the following statement is True or False:
A motion which brings to the notice of the Chairman certain irregularities of the meeting is point of order.
Report Question
0%
True
0%
False
Explanation
Point of order is a type of formal motion that leads to an interruption of the meeting. A member can raise a question on the procedure of the meeting. Point of order by a member thus interrupts the meeting and draws the attention of the Chairman pointing out the irregularities in the proceedings.
The minimum number of members required to be present at a valid meeting is called ___________.
Report Question
0%
Quorum
0%
Minutes
0%
Agenda
0%
None of these
Explanation
Quorum is the minimum number of members necessary to be present to conduct a valid meeting.
Minutes means “a formal written record, in physical or electronic form, of the proceeding of a Meeting”.
Agenda is the list of activities/business to be transacted in a meeting. It also sets out the order of these activities.
State the following statement is True or False:
Through insurance the risk is divided among many people.
Report Question
0%
True
0%
False
Explanation
Insurance is a form of risk management. It is a substitution of the premium for a risk of large possible loss. Such loss is spread over a large number of policyholders exposed to the same risk.
A proposal put before the meeting for discussion and decision is called ______________.
Report Question
0%
Agenda
0%
Motion
0%
Prospectus
0%
None of these
Explanation
1.Agenda is the list of items that are to be considered in a meeting. It is also called as order or business.
2.The topic of discussion formally introduced by a member is a motion. A motion is moved with the permission of the Chairman.
3.Prospectus is a legal document issued by a company that are offering its securities to public. It contains the information relating to the company and the issue.
4.It can be hence said that a proposal put before the meeting for discussion and decision is called as motion.
0:0:1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
0
Answered
0
Not Answered
0
Not Visited
Correct : 0
Incorrect : 0
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Practice Class 11 Commerce Business Studies Quiz Questions and Answers
<
>
Support mcqexams.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page
