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CBSE Questions for Class 11 Commerce Business Studies Business Services Quiz 5 - MCQExams.com
CBSE
Class 11 Commerce Business Studies
Business Services
Quiz 5
The service provided to improve the standard of living of the weaker sections of society are ______________.
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Business services
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Social services
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Personal services
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None of the above
Explanation
Business services are those services which are used by business enterprises for the conduct of their activities.
Social services are those services that are generally provided voluntarily in pursuit of certain social goals. These social goals may be to improve the standard of living for weaker sections of society, to provide educational services to their children, or to provide health care and hygienic conditions in slum areas.
Personal services are those services which are experienced differently by different customers.
Services are ___________ in nature.
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Intangible
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Inconsistent
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Inseparable
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All of the above
Explanation
Services are intangible. They cannot be touched and felt. They are inconsistent as it they are unique and heterogeneous. They are inseparable as well which means that the production and consumption of service cannot be separated unlike a tangible product.
All types of voice and non voice messaging services are known as ______________.
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Business services
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Telecom services
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Social services
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Personal services
Explanation
Business services are those services which are used by business enterprises for the conduct of their activities.
Telecom services provide voice and non voice messaging services.
Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
Personal services are those services which are experienced differently by different customers. They will also depend upon customer’s preferences and demands. For example, tourism, recreational services, restaurants.
___________ services are experienced differently by different customers according to their preferences and demands.
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Business
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Social
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Personal
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All of the above
Explanation
Business services are those services which are used by business enterprises for the conduct of their activities.
Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
Personal services are those services which are experienced differently by different customers. They will also depend upon customer’s preferences and demands. For example, tourism, recreational services, restaurants.
The abbreviation 'VSAT' stands for ________.
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Very Straight Aperture Terminals
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Very Straight Aperture Transfer
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Very Small Aperture Transfer
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Very Small Aperture Terminals
Explanation
VSAT
(Very Small Aperture Terminal) is a satellite communications system that serves home and business users.
A VSAT
end user needs a box that interfaces between the user's computer and an outside antenna with a transceiver.
The transceiver
receives or sends a signal to a satellite transponder in the sky.
The simultaneous activity of production and consumption of services is called _____________.
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Inventory
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Inconsistency
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Inseparability
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Intangibility
Explanation
They are inseparable as well which means that the production and consumption of service cannot be separated unlike a tangible product.
Involvement of customers in services is the most important characteristic of services.
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True
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False
Explanation
Services are intangible and
cannot be felt
. They are heterogeneous, so are unique. They are customized to suit the requirements of customers. Hence customers are the important aspect of a service industry.
_____________ services are the services uses used by business enterprises to conduct their activities.
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Business
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Social
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Personal
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All of the above
Explanation
Business services are those services which are used by business enterprises for the conduct of their activities.
Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
Personal services are those services which are experienced differently by different customers.
An operation's strategy is created directly from the strategy ______________.
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Corporate strategy
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Marketing Strategy
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Business strategy
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Human resource strategy
Explanation
An operation's strategy is created directly from the business strategy. Operation strategy is associated with business strategy, and it is a part of business strategy. It helps to maximize the efficiency of the organizational activities and minimize costs.
Which of these statement(s) is/are true about a good objective?
A good objective should clarify the desired result.
Enable achievement to be measured.
Need not specify a time scale.
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1 & 2
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2
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1
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3
Explanation
Objectives are laid down to achieve the desired results. A good objective formed should be clear, which is meaningful and understandable. While setting an objective, it should be ensured that the performance can be measured in monetary terms.
Which one of the following statements concerning mercantile agents is NOT true?
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Self - employed agents will not be classified as mercantile agents.
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Agents engaged for a single transaction are unlikely to be classified as mercantile agents.
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Agents involved in the provision to by goods will be classified as mercantile agents.
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Agents that do not have power to negotiate on this principal's behalf will not be classified as mercantile agent.
Explanation
Self - employed agents will not be classified as mercantile agents- this statement concerning mercantile agents is not true.
A mercantile agent can be defined as one having authority in the course of business to sell goods or consign goods for the purpose of sale or to buy goods and even to raise money on the security of goods.
Which of the following are a type of warehouse?
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Private
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Public
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Bonded
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All of the above
Explanation
Private warehouses are operated, owned or leased by a company handling their own goods, such as retail chain stores or multi-brand multi-product companies.
Public warehouses can be used for storage of goods by traders, manufacturers or any member of the public after the payment of a storage fee or charges.
Bonded warehouses are licensed by the government to accept imported goods prior to payment of tax and customs duty.
Thus, all the three are types of warehouses.
Standing offer means purchasing of goods on _____________.
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As and when basis
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As and where basis
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As and how basis
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None of the above
Explanation
Standing offer means purchasing of goods on as and where basis. A standing offer is not to be referred as any contract. A standing offer can be described as an offer from a potential supplier in order to provide goods and services. The prices and terms and conditions should get fixed at a beforehand in case of standing offer.
__________ warehouse divides the commodities stored into smaller quantities.
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Consolidation
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Break the bulk
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Stock piling
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Price stabilsation
Explanation
Consolidation: In this function the warehouse receives and consolidates, materials/goods from different production plants and dispatches the same to a particular customer on a single transportation shipment.
Break the bulk: The warehouse performs the function of dividing the bulk quantity of goods received from the production plants into smaller quantities.
Stock piling: Warehousing is used for the seasonal storage of goods to select businesses. Goods or raw materials which are not required immediately for sale or manufacturing are stored in warehouses.
Price stabilization: By adjusting the supply of goods with the demand situation, warehousing performs the function of stabilizing prices.
The purpose of strategy is to provide__________.
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The strategic direction for an organization in the foreseeable future.
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Direction and scope of an organization over the long term, which achieves advantage for an organization within a changing environment to meet the needs of markets.
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Direction and scope of an organization over the long-term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations.
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A set of standards which all employees in an organization should strive to attain
Explanation
The purpose of strategy is to provide direction and scope of an organization over the long-term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations. Business strategy helps to increase the efficiency of the organizational activities and minimize costs.
In order for promissory estoppel to arise, a number of requirements exist. Which of the following is NOT a requirement for promissory estoppel?
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The promise must be made by clear words.
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It must be inequitable for the promisor to go back on his promise.
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The promisee must rely on the promise.
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There must be a clear promise that legal rights will not be enforced.
Explanation
In order for promissory estoppel to arise, a number of requirements exist.
The promise must be made in clear words, is not a requirement for promissory estoppel. Promissory estoppel can be defined as a legal principle which is enforceable y law even if the promise is made without formal consideration.
___________ is a satellite based media services provided by cellular service providers.
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VSAT
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DTH
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Cellular mobile
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All of the above
Explanation
VSAT (Very Small
Aperture Terminal) is a satellite-based
communications service. It offers
businesses and government agencies
a highly flexible and reliable
communication solution in both
urban and rural areas.
DTH (Direct to Home) is again a satellite based media services provided by cellular companies. One can receive media services directly through a satellite with the help of a small dish antenna and a set top box.
Cellular mobile services are all types of mobile telecom services including voice and non-voice messages, data services and PCO services utilizing any type of network equipment within their service area.
International trade in goods & services is sometimes used as a substitute for all the following except ________________________________.
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International movement of capital
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Domestic production of different goods and services
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International movement of labour
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International movement of technology
Explanation
International trade in goods & services is sometimes used as a substitute for international movement of capital, international movement of labour and international movement of technology except domestic production of different goods and services. Goods and services which are produced and consumed within the given territory are not included in the domain of international trade in goods and services.
An agent, which sells the goods, which are in its possession for his principal, is ______________.
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broker
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factors
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auctioneers
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none of the above
Explanation
An agent, which sells the goods, which are in its possession for his principal, is broker. Broker is responsible for arranging transactions between the buyer and seller of any goods. A broker is entitled to a certain amount of commission when the deal is executed.
An agent is_________between his principal and the third party.
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Connecting link
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Sub agent
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Partner
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None of the above
Explanation
An agent is not a connecting link, sub agent or partner between his principal and the third party. An agent can be referred as a person who acts on behalf of some other person. Agent always take an active role in order to create a specific effect on an activity.
If the principal comes to know the agent has concealed from him any material fact, the principal _____________.
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may affirm such transaction
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may claim damages
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may repudiate the transaction
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all of the above
Explanation
D.
The contract of agency states that the principal has the power to repudiate the acts of the agent in case the agent has concealed any material facts. He also has the power to affirm his acts and to claim the damages from him , if any. Insurance contract is no exception.
In this case also the principal may ratify the acts of the agent or repudiate them. It should be however noted that insurance is a contract of utmost good faith.
In a normal agency relationship where the agent acts within his authority, a binding contract within his authority is usually created between ___________.
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the parricidal and agent
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third party and agent
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the principal and a third party
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all of the above
Explanation
In a normal agency relationship the agent can contractually bind his principal to a third party, providing that the agent acts within his authority. Later if the agent drops out of the transaction, he/she leaves a binding contract between his/her principal and the third party.
Goods displayed on a shop window with a price tag is an _______________.
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offer
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invitation to offer
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counter of the above
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none of the above
Explanation
Goods displayed of a shop window with a price label will amount invitation to offer since the shopkeeper making an invitation invites others to make an offer to him. It is prelude to an offer inviting negotiations or preliminary discussions.
Bonded warehouses are located at __________.
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Railway stations
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Villages
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Ports
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None of these
Explanation
C. Ports
Bonded warehouse is a building or a secured area where dutiable goods are stored or undergo manufacturing operations without payment of duty. These can be managed by state or private enterprises. When the goods are in bonded warehouses they can be manipulated by cleaning, sorting or repacking under the supervision of the custom authorities.
What do we mean by ITES?
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Indian Technology Enabled Services
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International Telecommunication Extra Services
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Information Technology Enabled Services
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none of the above
Explanation
ITES Information Technology Enabled Services. It covers the entire gamut of operations which is related to Information Technology. It helps to improve the efficiency of an organization. It is also known as enabled services or remote services.
_________ offers the opportunity to produce goods as per the requirements of a customer.
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Job Method
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Batch method
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Flow method
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All the above
Explanation
Job method offers the opportunity to produce goods as per the requirements of a customer.
Customer is the king pin of the market. Thus, job methods help to know the requirements and interest of the customers and then production of the required goods and services are to be started accordingly.
Which among the following gives an idea that the goods preserved are perishable?
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Cold storage helps to maintain the quality of goods.
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It helps to widen the market.
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It saves time by providing the goods as and when required.
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Processed goods can be graded, packed, and labeled.
Explanation
Cold storage helps to maintain the quality of goods gives an idea that the goods preserved are perishable. Cold storage is useful as it helps to store perishable goods for a period of time. Cold storage is crucial as it helps to prolong thhe shelf life of fresh goods.
The place where goods are preserved on a large scale in a systematic and orderly manner is commonly called as _____________.
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Retail outlet
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Factory
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Open ground
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Warehouse
Explanation
The place where goods are preserved on a large scale in a systematic and orderly manner is commonly called as warehouse. Goods are stored in warehouse generally before the delivery or sale of the goods. Warehouse helps to protect the perishable goods.
The type of warehouse suitable for seasonal goods is ______.
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Private warehouse
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Co-operative warehouse
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Cold Storage warehouse
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Public warehouse
Explanation
The type of warehouse suitable for seasonal goods is cold storage warehouse. Cold storage warehouse helps to prolong the shield life for fresh goods. It helps to keep the goods fresh after production and before the delivery or sale of the goods.
The process of comparing the products and services with those of best in the industry to improve quality and performance is known as _____________.
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Advertising
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After-sale-Device
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Bench marking
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None of the above
Explanation
The process of comparing the products and services with those of the best in the industry to improve quality and performance is known as benchmarking. Benchmarking can be defined as a process of measuring the performance of the company against other companies in the market. Benchmarking is conducted to identify the internal opportunities which will lead to improvement in organizational objectives.
Hence, option (C) is the correct answer.
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Practice Class 11 Commerce Business Studies Quiz Questions and Answers
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