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CBSE Questions for Class 11 Commerce Legal Studies Concept Of State And Nation Quiz 1 - MCQExams.com
CBSE
Class 11 Commerce Legal Studies
Concept Of State And Nation
Quiz 1
The tendency for people to base their judgments on information that is readily available to them, is known as __________.
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Availability heuristic
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Representative heuristic
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Both (a) and (b)
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None of these
I modern investment analysis, the risk for a stock is related to its ______________.
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leverage factor
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standard deviation
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beta coefficient
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coefficient of variation
Explanation
I modern investment analysis, the risk for a stock is related to its beta coefficient. The return of an asset should be linearly related to its beta coefficient which shows that riskier investments earn a premium over the benchmark rate. Beta coefficient represents time value for money for placing money in any investment.
The standards used as a basis for comparison or measurement is called ____________.
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Branding
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Benchmarking
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Quality management
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None of these
One who values experimentation, seeking new ideas, and generating and implementing change is _____________.
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development-oriented
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initiative-oriented
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employee-oriented
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production-oriented
Patriarchy is an expression to include ______________.
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father dominated household.
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male dominance in the organization of society.
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a fundamental and universal unit of society.
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biological links between father and child.
Who has developed the concept of 'Johari Window'?
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Joe Luft and Harry Ingaham
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Taylor
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McGregor
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Hintzberg
Which among the following is an element of legitimate power?
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Special knowledge
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Legal
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Personality
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Control
Which of the following Acts would not apply to a company like Tisco?
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Minimum Wages Act
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National Rural Employment Guarantee Act
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Factories Act
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All of the above
Explanation
TISCO
, is an Indian multinational steel
making company headquartered in Kolkata, India. As it comes under international laws, the above stated Indian acts are not applicable on it.
Hence, D is the correct option.
Inability of the firm to meet its obligations results in financial distress which may lead to bankruptcy resulting into the following:
Distress sale of assets at lower price.
Legal and administrative costs for bankruptcy.
Dilution of stakeholders' commitment to the firm.
Stretching of payments to suppliers and creditors.
The direct cost of such financial distress may be
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$$1$$ and $$4$$
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$$2$$ and $$3$$
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$$1$$ and $$2$$
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$$3$$ and $$4$$
Copy right is available for _____________________.
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The whole of the author's life-time
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Fifty years after his death
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Ten years after his death
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Both (A) and (B)
Explanation
Copy right is available for the
whole of the author's life time and also fifty years after his death.
The notice of the statutory meeting must be accompanied by __________.
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Director's Report
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Progress R
eport
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Statutory R
eport
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none of the above
Explanation
Statutory meeting is the first meeting of the shareholders of a public company. It must be held within a period of not less than one month and not more than six months. The purpose of statutory meeting with its statutory report is to tell the shareholders of all the important fact about the company. The board of directors must at least 21 days before the day on which the meeting is to be held, forward a report called statutory report to every member of the company. Hence the notice of the statutory meeting must be accompanied by the statutory report.
State the following statement is True or False.
A notice of meeting must be sent to all members in case of General Meeting.
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True
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False
Explanation
This statements is True because of the following reason:
(i) The Board of Director is the authority who convene this meeting and delegate the authority to the secretary.
(ii) Atleast 21 days advance notice from the date the meeting must be given to all the member at their registered addresses.
(iii) The notice,admit card,etc. atleast 21 days before the date of holding of such meeting.
Select the correct option given below:
The interval between two A.GM.s should not be more than ________ months.
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10
0%
12
0%
15
0%
20
Explanation
Annual General Meeting (AGM) is an annual or yearly meting held to present detailed information of company's performance. According to the law the interval between two annual general meetings should not be more than 15 months which means that A.G.M should be held annually and the interval should not be more than 15 months.
The general meeting held only once in the life of the company is the statutory meeting.
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True
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False
Explanation
true, statutory meeting is the first meeting of the shareholders of a company. It must be held within a period of less than one month not more than six months from the date at which the company is entitled to the commencement of business . it is only held once in a lifetime of a company.
State the following statement is True or False.
Annual Report is prepared by members.
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True
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False
Explanation
This statement is False because of the following reasons :
(i) The Board of Director is the authority who convene this meeting.
(ii) This authority is delegated to the secretary in Board Meeting.
(iii) The secretary has to ensure the preparation of annual report and annual accounts.
(iv) These reports and financial statement need to be approved by the board and the auditors.
(v) The secretary presents the Annual Accounts to the directors for approval and obtains signature.
(vi) He also sends Annual Accounts to the auditor for audit.
(vii) The secretary then drafts the Directors' Report. This report presents the performance of the company during the year.
Hence, it is the secretary and not the members who prepare annual report.
State the following statement is True or False.
The Secretary of the meeting has to draft the minutes of the meeting.
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True
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False
Explanation
This statement is True because of the following reasons :
(i) Minutes are brief summary of the business transacted at a meeting.
(ii) A secretary has to make entries in the minutes book within 30 days of every meeting.
(iii) The minutes of general meetings and board meetings must be recorded within 30 days of such meeting.
(iv) The secretary should show the minutes to the chairman immediately after drafting and get them approved from the chairman.
(v) Minutes cannot be altered once approved and signed by the chairman.
(vi) The secretary should draft the minutes after going through the agenda and the notes taken down by him during the course of the meeting.
(vii) Minutes should be complete in all respects i.e. all resolutions and decisions taken must be incorporated in the minutes.
(viii) Minutes should be divided into suitable paragraphs.
(ix) Minutes should be drafted in an affirmative manner.
(x) Hence, the secretary of the meeting has to draft the minutes of the meeting.
What is true for Branch office?
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It is not allowed to carry on manufacturing activity on its own.
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It is allowed to carry on manufacturing on its own.
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It is allowed to carry on business without the permission of RBI.
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None of the above.
Explanation
Branch
, bough, limb refer to divisions of a tree.
Branch
is general,
meaning
either a large or a small division. Bough refers only to the larger
branches
: a bough loaded with apples. A limb is a large primary division of a tree trunk or of a bough: to climb out on a limb.
A “
branch
”, by contrast, will be a part of a company, organised so as to conduct business on behalf of that company. ... A
branch
is not a separate
corporate entity
, but is typically run along lines that are similar in concept to those of a subsidiary company.
Who of the following was NOT a jurist of natural law?
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Ulpine
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Circero
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Henry Maine
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Justinian
In business settings, conventions.
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Are non routine practices that employees must learn
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Are routine widely accepted ways of thinking and doing things
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Include unusual occurrence's in a business
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None of the above
The written record of the proceedings at the meeting are the minutes.
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True
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False
Explanation
Minutes also known as minutes of meeting are instant records. They typically describe the events of the meeting and may include a list of attendees, a statement of the issues considered by the participants and related responses or the decision of the issue.
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