UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank

done Business Modules and concepts in India Total Questions - 34

• question_answer1)
  What is the full form of the given acronym, LLP?
  A)
  Limited Liability Partnership done clear
  B)
  Living Liability Partnership done clear
  C)
  Liability List Partnership done clear
  D)
  None of these done clear
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• question_answer2)
        The National Pension System is structured in how many tiers?
  A)
  1 done clear
  B)
                              2 done clear
  C)
  3                           done clear
  D)
           4 done clear
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• question_answer3)
        In which state Chinese e-retailer giant Alabama will set up its first office in India?
  A)
  Kerala     done clear
  B)
                     Delhi done clear
  C)
  Guru gram              done clear
  D)
  Mumbai done clear
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• question_answer4)
        Which of the following doesn?t characterized business activities?
  A)
  Production of goods and services done clear
  B)
  Presence of risk done clear
  C)
  Sale or exchange of goods and services done clear
  D)
  Salary or wages done clear
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• question_answer5)
        What is the name of the mobile company which was acquired by Sony?
  A)
  Nokia                     done clear
  B)
  Ericsson done clear
  C)
  Docomo       done clear
  D)
           Cell one done clear
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• question_answer6)
        Which of the following can't be classified as an objective of business?
  A)
  Investment                       done clear
  B)
  Productivity done clear
  C)
  Innovation              done clear
  D)
                     Profit earning. done clear
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• question_answer7)
        Name the two broad categories of business activities.
  A)
  Trade and commerce done clear
  B)
  Trade and industry done clear
  C)
  Industry and commerce done clear
  D)
  None of these done clear
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• question_answer8)
        Economic activities may be classified into business, _______ and employment.
  A)
  Profession               done clear
  B)
  occupation done clear
  C)
  Vocation      done clear
  D)
                     work done clear
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• question_answer9)
        Which of the broad categories of industries covers oil refineries and sugar mills?
  A)
  Primary                  done clear
  B)
  Secondary done clear
  C)
  Tertiary                  done clear
  D)
  None of them done clear
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• question_answer10)
        Which of the following involves maximum risk?
  A)
  An industry             done clear
  B)
  A Commerce activity done clear
  C)
  A trade         done clear
  D)
           None of these done clear
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• question_answer11)
        Commerce is related to
  A)
  Production of goods done clear
  B)
  Exchange of goods done clear
  C)
  Providing occupation done clear
  D)
  Providing services done clear
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• question_answer12)
        What is the full form of the given acronym, CRM?
  A)
  Customer Relationship Management done clear
  B)
  Customer Retail Management done clear
  C)
  Customer Care Retail Management done clear
  D)
  Customer Relation Marketing done clear
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• question_answer13)
        The term FICCI stands for?
  A)
  Framework of Indian Chamber of Commerce and Industry done clear
  B)
  Federation of Indian Chamber of Commerce and Industry done clear
  C)
  Federation of Indian Council of Commerce and Industry done clear
  D)
  Framework of Indian Council of Commerce and Industry done clear
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• question_answer14)
        The statement "Issued capital is the shared capital that has been issued to the shareholders. This is a part of company's authorized capital". The given statement is
  A)
  False done clear
  B)
  True done clear
  C)
  All of the above done clear
  D)
  None of these done clear
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• question_answer15)
  'VAT' is imposed-
  A)
  Directly on consumer done clear
  B)
  on first stage of production done clear
  C)
  on all stages between production and sale done clear
  D)
  on final stage of production done clear
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• question_answer16)
        The 'Closed Economy' is the economy in which -
  A)
     Only export takes place done clear
  B)
  Budget deficit is less done clear
  C)
  Only import takes place done clear
  D)
  There is no foreign trade done clear
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• question_answer17)
        Reserve Bank of India extended the period of enhanced PPI limit of Rs.20,000 as a part of effort promote digital payments. What is me full form of PPI?
  A)
  Prepaid Payments Instruments done clear
  B)
  Postpaid Payment Instruments done clear
  C)
  Pre-Payment Instruments done clear
  D)
  None of these done clear
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• question_answer18)
        The occupation in which people work for others and get remunerated in return is known as:
  A)
  Business     done clear
  B)
                     Unemployment done clear
  C)
  Profession     done clear
  D)
           None of these. done clear
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• question_answer19)
        Business risk is not likely to arise due to:
  A)
  Changes in government policy. done clear
  B)
  Good management done clear
  C)
  Employee dishonesty done clear
  D)
  Power Failure done clear
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• question_answer20)
        Which one of the following may not be a factor behind starting a business?
  A)
  Routine workload done clear
  B)
  Size of the firm done clear
  C)
  Finance done clear
  D)
  Location of the business done clear
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• question_answer21)
        Commerce includes activities relating to trade and       ___________ to trade.
  A)
  supporting    done clear
  B)
           subsidiaries done clear
  C)
  auxiliaries    done clear
  D)
           None of these done clear
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• question_answer22)
        Following are the characteristics of business risks. One of then is not correct. Please identify it.
  A)
  Loss is the reward for risk bearing done clear
  B)
  Business risks are due to uncertainties done clear
  C)
  Risk is an essential component of every business done clear
  D)
  Degree of risk depends mainly upon the nature and size of business done clear
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• question_answer23)
        The possibilities of inadequate profits or even losses due to uncertainties are known as ________
  A)
  Business contingencies done clear
  B)
  Business risks done clear
  C)
  Business ventures done clear
  D)
  None of these done clear
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• question_answer24)
        Which of the following is not an example of non- economic activity?
  A)
  Patriotism done clear
  B)
                     Teaching done clear
  C)
  Sentiment               done clear
  D)
  Sympathy done clear
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• question_answer25)
        Which of the following countries has merged together in order to form the 4th largest telecom operator in the Country?
  A)
  Reliance Communications and Marxis Communications Berhad done clear
  B)
  Reliance Communications and Ainel Services done clear
  C)
  Marxis Communications Berhad and Ainel Services done clear
  D)
  None of these done clear
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• question_answer26)
        Transfer of interest exists in the case of
  A)
  Profession     done clear
  B)
           Employment done clear
  C)
  Business       done clear
  D)
           None of these done clear
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• question_answer27)
        Consider the following.

  (i) The companies Act (Amendment) Bill 2016 seeks to amend the Companies Act 2013 which regulates the incorporation, regulation and winding up of companies.

  (ii) The Bill is mainly based on the recommendations of the companies Law Committee.

  Which of the following is /are correct?
  A)
  Only I done clear
  B)
  Only II done clear
  C)
  Both I and II done clear
  D)
  None of the above. done clear
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• question_answer28)
        Consider the following statements

  (i) A subsidiary Company is one in which a parent company holds more than 50% of its shares.

  (ii) Associate company is one where another company holds at least 20% of its shares

  Which of the following statement is/are correct?
  A)
  Only I done clear
  B)
  Only II done clear
  C)
  Both I and II done clear
  D)
  None of the Above done clear
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• question_answer29)
        Consider the following regarding lease.

  (i) A legal document outlining the terms under which one party agress to rent property from another party.

  (ii) This guarantees the lessee use of an asset and guarantees the lessor regular payments from the lessee for a specified number of months or years.

  Which of the following is/are correct?
  A)
  Only I done clear
  B)
  Only II done clear
  C)
  Both I and II done clear
  D)
  None of these done clear
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• question_answer30)
        Consider the following statements

  (i) Corporate taxes are taxes against profits earned by business during a given taxable period.

  (ii) A tax payer distributes the incidence of tax and provides for a simple and convenient mode of payment.

  Which of the following statement is/are correct?
  A)
  Only I                    done clear
  B)
  Only II done clear
  C)
  Both I and II           done clear
  D)
           None of these done clear
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• question_answer31)
        Consider the following statement.

  I. Family owned business includes two or more family members and the majority of ownership lies within the family.

  II. Family owned business includes two or more family members and the majority of ownership is divided between the partners.

  Which of the following is/are correct?
  A)
  Only I done clear
  B)
  Only II done clear
  C)
  Both I and II done clear
  D)
  None of the above done clear
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• question_answer32)
        Consider the following statement.

  (i) Paid up share capital which doesn't exceed 50 lakh rupees or such higher amount as may be prescribed which shall not be more than 5 crore rupees.

  (ii) Paid up share which extends up to 50 lakh rupess or higher amount as may be prescribed which shall extends more than 5 crore.

  Which of the following statements is/are correct?
  A)
  Only I                    done clear
  B)
  Only II done clear
  C)
  Both I and II        done clear
  D)
          None of the Above done clear
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• question_answer33)
  Consider the following regarding ISI mark

  a. It's a certification mark for industrial products in India

  b. The mark certifies that a product confirms to the Indian Standard, mentioned as IS.XXXX on top of the mark, developed by BIS.

  c. It's mandatory for certifying products to be sold in India

  d. It's associated with FICCI.

  Which of the following is/ are correct?
  A)
  I, II and III are correct done clear
  B)
  II, III and IV are correct done clear
  C)
  I, II and IV are correct done clear
  D)
  I, II, III and IV are correct. done clear
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• question_answer34)
        Consider the following statements

  (I) SWOT analysis is a framework of identifying and framing organizational growth opportunities.

  (II) SWOT is an acronym for an organization's internal Strengths and Weaknesses and External Opportunities and Threats.

  Which of the following is/are correct?
  A)
  Only I          done clear
  B)
           Only II done clear
  C)
  Both I and II        done clear
  D)
          None of the Above done clear
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