MCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers

Dissolution of a Partnership Firm Class 12 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers Pdf free download. MCQ Questions for Class 12 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Dissolution of a Partnership Firm Class 12 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm MCQ With Answers

Accountancy Class 12 Chapter 5 MCQs On Dissolution of a Partnership Firm

Capital Account Is Related To MCQ Class 12 Question 1.
In the event of dissolution of partnership firm, the provision for doubtful debts is transferred to :
(a) Realisation Account
(b) Partners’ Capital Accounts
(c) Sundry Debtors Account
(d) None of the above

Answer

Answer: (a) Realisation Account

MCQ On Dissolution Of Partnership Firm Class 12 Question 2.
On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is:
(a) profit & Loss Account
(b) Realisation Account
(c) Partner’s Capital Account
(d) Cash Account

Answer

Answer: (b) Realisation Account

Dissolution Of Partnership Firm MCQ Class 12 Question 3.
At the dime of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :
(a) Realisation Account
(b) Creditors’ Account
(c) Partners’ Capital Accounts
(d) Profit & Loss Account

Answer

Answer: (c) Partners’ Capital Accounts

MCQs On Dissolution Of Partnership Firm Class 12 Question 4.
On dissolution, goodwill account is transferred to :
(a) In the Capital Accounts of Partners
(b) In the Credit of Cash Accounts
(c) In the Debit of Realisation Account
(d) In the Credit of Realisation Account

Answer

Answer: (c) In the Debit of Realisation Account

On The Dissolution Of The Partnership MCQ Class 12 Question 5.
At the time of dissolution of partnership firm, fictitions assets are transferred to :
(a) Capital Accounts of Partners
(b) Realisation Account
(c) Cash Account
(d) Partners’ Loan Account

Answer

Answer: (a) Capital Accounts of Partners

Question 6.
On dissolution of a firm, a partner paid 1,500 Rs. for firm’s realisation expenses. Which account will be debited ?
(a) Cash Account
(b) Realisation Account
(c) Capital Account of the Partner
(d) Profit & Loss A/c

Answer

Answer: (b) Realisation Account

Question 7.
On taking responsibility of payment of realisation expenses by a partner, the account credited will be :
(a) Realisastion Account
(b) Cash Account
(c) Capital Account of the Partner
(d) None of the above

Answer

Answer: (c) Capital Account of the Partner

Question 8.
When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to :
(a) Realisation Account
(b) Partners’ Capital Account
(c) Partner’s Loan Account
(d) None of these

Answer

Answer: (b) Partners’ Capital Account

When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to :

Question 9.
Which of the following is transferred to Realisation Account ?
(a) Balance of Profit Account
(b) Balance of Profit & Loss Account
(c) Amount realised on sale of assets
(d) Reserves

Answer

Answer: (c) Amount realised on sale of assets

Question 10.
On disolution of firm, loss calculated in realisation account is debited/credited to which account ?
(a) Cash Account
(b) Partners’ Capital Accounts
(c) Realisation Account
(d) None of these

Answer

Answer: (b) Partners’ Capital Accounts

Question 11.
Which of the following is not transferred to Realisatsion Account ?
(a) Balance of Cash Account
(b) Balance of Reserves
(c) Balance of Profit & Loss Account
(d) All of the above

Answer

Answer: (d) All of the above

Question 12.
On taking responsibility of payment of a liability of ₹ 20,000 by a partner, the account credited will be :
(a) Realisation Account
(b) Cash Account
(c) Capital Account of the Partner
(d) Liability Account

Answer

Answer: (c) Capital Account of the Partner

Question 13.
Cash balance shown in the Balance Sheet is shown on dissolution of firm in :
(a) Realisation Account
(b) Cash Account
(c) Capital Account
(d) None of the Account

Answer

Answer: (b) Cash Account

Question 14.
There was an Unrecorded asset of ₹ 12,000 which was taken over by a partner at ₹ 10,500. Partner’s Capital Account will be debited by…….
(a) ₹ 12,000
(b) ₹ 10,500
(c) ₹ 1,500
(d) ₹ 32,500

Answer

Answer: (b) ₹ 10,500

Question 15.
On dissolution of a firm, Bank overdraft is transferred to:
(a) Cash Account
(b) Bank Account
(c) Realisation Account
(d) Partners’ Capital Account

Answer

Answer: (c) Realisation Account

Question 16.
On dissolution of a firm, Partner’s Loan Account is transferred to:
(a) Realisation Account
(b) Partner’s Capital Account
(c) Partner’s Current Account
(d) None of these

Answer

Answer: (d) None of these

Question 17.
The accumulated profits and reserves are transferred to:
(a) Realisation Accounts
(b) Partners’ Capital Accounts
(c) Bank Account
(d) None of these

Answer

Answer: (b) Partners’ Capital Accounts

Question 18.
On dissolution, Goodwill Account is transferred to :
(a) In the Capital Accounts of Partners
(b) On the Credit side of Cash Account
(c) On the Debit side of Realisation Account
(d) On the Credit side of Realisation Account

Answer

Answer: (c) On the Debit side of Realisation Account

Question 19.
On dissolution, when a partner takes over an asset……….is debited :
(a) Realisation Account
(b) Partner’s Capital Account
(c) Cash Account
(d) Asset Account

Answer

Answer: (b) Partner’s Capital Account

Question 20.
After transferring liabilities like creditors and bills payable in the Realisation Account in the absence of any informations regarding their payment, such liabilities are treated as :
(a) Never paid
(b) Fully paid
(c) Partly paid
(d) None of these

Answer

Answer: (b) Fully paid

Question 21.
Unrecorded liabilities when paid are shown in :
(a) Debit side of Realisation Account
(b) Debit side of Bank Account
(c) Credit side of Realisation Account
(d) Credit side of Bank Account

Answer

Answer: (a) Debit side of Realisation Account

Question 22.
Payment of credit balance of Partners’ Capital Accounts at the time of dissolution of a firm is made to:
(a) Partners
(b) Firm
(c) Wife
(d) None of these

Answer

Answer: (a) Partners

Question 23.
On dissolution of a firm Partner’s Loan A/c is transferred to:
(a) Realisation A/c
(b) Partners’ Capital A/cs
(c) Suspense A/c
(d) None of these

Answer

Answer: (d) None of these

Question 24.
At the time of dissolution of firm book value of assets is recorded in which side of the Realisation Account ?
(a) Debit Side
(b) Credit Side
(c) All of the above
(d) Liabilities Side

Answer

Answer: (a) Debit Side

Question 25.
Realisation expenses are recorded in which side of Realisation A/c:
(a) Liabilities
(b) Assets
(c) Credit
(d) Debit

Answer

Answer: (c) Credit

Question 26.
Realisation Account is a :
(a) Personal A/c
(b) Nominal A/c
(c) Read A/c
(d) None of these

Answer

Answer: (b) Nominal A/c

Question 27.
On dissolution of the firm, Partners’ Capital Accounts are closed through :
(a) Realisation Account
(b) Drawings Account .
(c) Bank Account
(d) Loan Account

Answer

Answer: (c) Bank Account

Question 28.
Unrecorded assets when taken over by a partner are shown in:
(a) Debit side of Realisation A/c
(b) Debit side of Bank A/c
(c) Credit side of Realisation A/c
(d) Credit side of Bank A/c

Answer

Answer: (c) Credit side of Realisation A/c

Question 29.
Expenses on dissolution of firm is called :
(a) Realisation Expenses
(b) Legal Expenses
(c) Loss Expenses
(d) None of these

Answer

Answer: (a) Realisation Expenses

Question 30.
Sundry creditors amounted to ₹ 8,000. They were paid at a discount of 5 %. Realisation A/c will be debited by :
(a) ₹ 8,000
(b) ₹ 7,600
(c) ₹ 400
(d) ₹ 8,400

Answer

Answer: (b) ₹ 7,600

Question 31.
Amount realised from sale of assets is recorded in :
(a) Debit side of Realisation Account
(b) Credit side of Realisation Account
(c) Liabilities side of Balance Sheet
(d) Assets side of Balance Sheet

Answer

Answer: (b) Credit side of Realisation Account

Question 32.
A firm can be voluntarily dissolved by the partners :
(a) On Majority basis
(b) On 3/4 Member’s decision
(c) On 1/2 Member’s decision
(d) None of these

Answer

Answer: (d) None of these

Question 33.
On dissolution of a firm, amount realised from an unrecorded asset is credited to:
(a) partners’ Capital Accounts
(b) Cash Account
(c) Realisation Account
(d) Revaluation Account

Answer

Answer: (c) Realisation Account

Question 34.
Profit/loss on Realisation Account is distributed among partners:
(a) In Profit-sharing Ratio
(b) In Capital Ratio
(c) Equally
(d) None of these

Answer

Answer: (a) In Profit-sharing Ratio

Question 35.
Which of the following is correct profit or loss in case the amount received from the sale of assets is ₹ 50,000, total assets is ₹ 60,000, total liabilities ₹ 20,000 and realisation expenses ₹ 2,000 ?
(a) ₹ 12,000 Loss
(b) ₹ 32,000 Profit
(c) ₹ 30,000 Loss
(d) ₹ 12,000 Profit

Answer

Answer: (a) ₹ 12,000 Loss

Question 36.
What will be the total assets (except cash) of the firm from the following: if Creditor ₹ 15,000, Partner’s loan ₹ 10,000, Partners’ capital ₹ 40,000. Cash in hand ₹ 5,000
(a) ₹ 60,000
(b) ₹ 65,000
(c) ₹ 70,000
(d) ₹ 55,000

Answer

Answer: (b) ₹ 65,000

Question 37.
If the total assets are ₹ 3,25,000 and the total outside liabilities ₹ 45,000 then the amount of all partner’s capital will be:
(a) ₹ 3,70,000
(b) ₹ 2,80,000
(c) ₹ 3,00,000
(d) None of these

Answer

Answer: (b) ₹ 2,80,000

Question 38.
Insolvency of a partner will come under what type of dissolution of a firm ?
(a) Dissolutiuon by Court
(b) Compulsory Dissolution
(c) On happening of certain contingencies
(d) None of these

Answer

Answer: (c) On happening of certain contingencies

Question 39.
On firm’s dissolution, which one of the following account should be prepared at the last ?
(a) Realisation Account
(b) Partner’s Capital Accounts
(c) Cash/Bank Account
(d) Partner’s Loan Account

Answer

Answer: (c) Cash/Bank Account

On firm’s dissolution, which one of the following account should be prepared at the last ?

Question 40.
On dissolution of a firm, realisation account is debited with:
(a) All assets to be realised
(b) All outside liabilities of the firm
(c) Cash received on sale of assets
(d) Any assets taken over by one of the partners

Answer

Answer: (a) All assets to be realised

Question 41.
On dissolution of a firm, out of the proceeds received from the sale of assets will be paid first of all:
(a) Partner’s Capitals
(b) Partner’s Loan to Firm
(c) Partner’s additional capital
(d) Outside Creditors

Answer

Answer: (d) Outside Creditors

We hope the given NCERT MCQ Questions for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 12 Accountancy Dissolution of a Partnership Firm MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 12 Accountancy MCQ:

MCQ Questions for Class 12 Business Studies Chapter 5 Organising with Answers

Organising Class 12 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 5 Organising with Answers Pdf free download. MCQ Questions for Class 12 Business Studies with Answers were prepared based on the latest exam pattern. We have provided Organising Class 12 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 12 Business Studies Chapter 5 Organising MCQ With Answers

Business Studies Class 12 Chapter 5 MCQs On Organising

Organising Class 12 MCQ Question 1.
Organising process includes one of the following:
(a) Grouping of activities
(b) Prescribing disciplinary action
(c) Determining objectives
(d) Prescribing work schedule

Answer

Answer: (a) Grouping of activities

Organizing Includes MCQ Question 2.
One of the following is not an importance of organising:
(a) Role clarity
(b) Performance appraisal
(c) Adaptation to change
(d) Growth and expansion

Answer

Answer: (b) Performance appraisal

Organising MCQ Question 3.
Organisation structure establishes relationships between
(a) organisation and environment.
(b) people, work and resources.
(c) organisation and society.
(d) suppliers and customers.

Answer

Answer: (b) people, work and resources.

Organising MCQ Class 12 Question 4.
One of the following is an advantage of functional structure:
(a) Responsibility for end results
(b) Flexibility
(c) Personalised attention
(d) Easier employee learning

Answer

Answer: (d) Easier employee learning

One of the following is an advantage of functional structure:

MCQ Of Organising Class 12 Question 5.
Divisional structure leads to conflict in
(a) resource allocation.
(b) marketing management.
(c) motivation.
(d) planning process.

Answer

Answer: (a) resource allocation.

Question 6.
In which respect does formal organisation differ from informal organisation?
(a) Production process
(b) Structuring
(c) Financial procedure
(d) Purchasing

Answer

Answer: (b) Structuring

Question 7.
Which one of the following does not follow scalar chain?
(a) Informal organisation
(b) Functional structure
(c) Formal organisation
(d) Divisional structure

Answer

Answer: (a) Informal organisation

Question 8.
Degree of decentralisation indicates
(a) degree of authority delegation.
(b) degree of responsibility.
(c) degree of power delegation.
(d) degree of accountability.

Answer

Answer: (a) degree of authority delegation.

Question 9.
___ involves giving authority and responsibility to subordinates.
(a) Division of work
(b) Decentralisation
(c) Delegation
(d) Centralisation

Answer

Answer: (c) Delegation

Question 10.
___ is the process of grouting similar activities together and creating departments.
(a) Division of work
(b) Departmentalisation
(c) Delegation
(d) Centralisation

Answer

Answer: (b) Departmentalisation

Question 11.
___ is the organisational structure in which activities are grouped on the basis of products.
(a) Divisional structure
(b) Functional structure
(c) Formal
(d) Informal

Answer

Answer: (a) Divisional structure

Question 12.
__ is the organisational structure in which no department is responsible for end results.
(a) Divisional structure
(b) Functional structure
(c) Formal
(d) Informal

Answer

Answer: (b) Functional structure

Question 13.
___ is the duty for job performance.
(a) Authority
(b) Responsibility
(c) Accountability
(d) Both(a) and(c)

Answer

Answer: (b) Responsibility

Question 14.
___ is the right to command.
(a) Authority
(b) Responsibility
(c) Accountability
(d) Both (b) and (c)

Answer

Answer: (a) Authority

Question 15.
___ cannot be delegated.
(a) Authority
(b) Responsibility
(c) Accountability
(d) Both (a) and (b)

Answer

Answer: (c) Accountability

Question 16.
When decision-making authority is retained organisation is said to be by higher management levels, an
(a) Decentralised
(b) Centralised
(c) Fragmented
(d) None of the above

Answer

Answer: (b) Centralised

Question 17.
Responsibility is derived from
(a) Authority
(b)Formal position
(c) Accountability
(d) All of the above

Answer

Answer: (a) Authority

Question 18.
Which of the following cannot be delegated?
(a) Responsibility and accountability
(b) Authority and responsibility
(c) Accountability and responsibility
(d) All of the above

Answer

Answer: (a) Responsibility and accountability

Question 19.
The accountability flows
(a) In all directions
(b) Downwards
(c) Upwards
(d) None of the above

Answer

Answer: (c) Upwards
Explanation:
a subordinate is accountable to his superior

Question 20.
Authority granted to an employee should be
(a) More than the responsibility entrusted to him
(b) Less than the responsibility entrusted to him
(c) Equal to the responsibility entrusted to him
(d) All of the above

Answer

Answer: (c) Equal to the responsibility entrusted to him

Authority granted to an employee should be

True or False

State with reasons whether the following statements are True or False.

1. Delegation is the step of organising process through which departments and sections in an organisation are created.

Answer

Answer: False; departmentalisation is the step.

2. Divisional structure is the aspect of organising that establishes relationships between people, work and resources.

Answer

Answer: False; organisation structure is the aspect of organising.

3. Formal organisational structure is consciously and deliberately designed structure of well-defined jobs.

Answer

Answer: True; formal organisational structure is consciously and deliberately designed structure of well-defined jobs, each bearing a definite authority, responsibility and accountability.

4. Responsibility cannot be delegated at all.

Answer

Answer: False; accountability cannot be delegated at all.

5. Responsibility is the duty for job performance.

Answer

Answer: True; it originates from delegated authority.

6. Accountability originates from delegated authority.

Answer

Answer: False; responsibility originates from delegated authority.

We hope the given NCERT MCQ Questions for Class 12 Business Studies Chapter 5 Organising with Answers Pdf free download will help you. If you have any queries regarding Organising CBSE Class 12 Business Studies MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 12 Business Studies MCQ:

MCQ Questions for Class 12 Accountancy Chapter 1 Accounting for Not for Profit Organisation with Answers

Accounting for Not for Profit Organisation Class 12 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 12 Accountancy Chapter 1 Accounting for Not for Profit Organisation with Answers Pdf free download. MCQ Questions for Class 12 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accounting for Not for Profit Organisation Class 12 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 12 Accountancy Chapter 1 Accounting for Not for Profit Organisation MCQ With Answers

Accountancy Class 12 Chapter 1 MCQs On Accounting for Not for Profit Organisation

Npo MCQ Class 12 Question 1.
Receipts and Payments A/c is a summary of:
(a) All Capital Receipts and Payments
(b) All Revenue Receipts and Payments
(c) All Revenue and Capital Receipts and Payments
(d) None of the above

Answer

Answer: (c) All Revenue and Capital Receipts and Payments

MCQ Of Npo Class 12 Question 2.
Subscription received by a schoblfbr organising annual V function is treated as:
(a) Capital Receipt
(b) Revenue Receipt
(c) Asset
(d) Earned Income

Answer

Answer: (c) Asset

MCQ On Non Profit Organisation Pdf Question 3.
Out of the following items, which one is shown in the Receipts and Payments Account?
(a) Outstanding Salary
(b) Depreciation
(c) Life Membership Fees
(d) Accrued Subscription

Answer

Answer: (b) Depreciation

Npo MCQ Questions Question 4.
In case specific fund is maintained, the expenses exceeding the amount of the fluids, should be recorded on:
(a) Liabilities side of the Balance Sheet
(b) Debit side the Income and Expenditure Account
(c) Credit side of the Income and Expenditure Account
(d) Assets side of the Balance Sheet

Answer

Answer: (b) Debit side the Income and Expenditure Account

MCQ Of Accountancy Class 12 Chapter 1 Question 5.
All receipts from sale of consumable items are treated as:
(a) Capital Receipts
(b) Revenue Receipts
(c) Both (a) and (b)
(d) None of these

Answer

Answer: (b) Revenue Receipts

Npo Class 12 MCQ Question 6.
Capital fUnd is calculated:
(a) Income-Expenditure
(b) Assets Liabilities
(c) Capital + Liabilities
(d) None of these

Answer

Answer: (b) Assets Liabilities

Question 7.
Subscription redeved in advance during the current year is:
(a) An income
(b) An Asset
(c) A liability
(d) None of these

Answer

Answer: (c) A liability

Question 8.
Balance of Income and Expenditure Account shows:
(a) Cash in hand
(b) Capital Fund
(c) Net Profit
(d) Excess of Income over Expenditure or Vice Versa

Answer

Answer: (d) Excess of Income over Expenditure or Vice Versa

Balance of Income and Expenditure Account shows:

Question 9.
Property received as a result of the will of the deceased person is called:
(a) Legacy
(b) Honorarium
(c) Donation
(d) Subscription

Answer

Answer: (a) Legacy

Question 10.
Receipts and Payments Account usually indicates:
(a) Surplus
(b) Capital Fund
(c) Debit Balance
(d) Credit Balance

Answer

Answer: (c) Debit Balance

Question 11.
Income and Expenditure Account generally indicates:
(a) Surplus/Deficit
(b) Cash Balance
(c) Capital Fund
(d) Net Profit/Loss

Answer

Answer: (a) Surplus/Deficit

Question 12.
Donation received for a special purpose:
(a) Should be credited to Income and Expenditure A/c
(b) Should be credited to a separate account and shown in the Balance Sheet
(c) Should be shown on the Assets side of the Balance Sheet
(d) None of these

Answer

Answer: (b) Should be credited to a separate account and shown in the Balance Sheet

Question 13.
In not-for-profit organisation, excess of expenditure over income is called :
(a) Loss
(b) Profit
(c) Deficit
(d) Surplus

Answer

Answer: (c) Deficit

Question 14.
Which of the following is a non-profitable organisation ?
(a) Jharkhand Academic Council
(b) Tata Steel
(c) Air India
(d) Reliance Co. Ltd.

Answer

Answer: (a) Jharkhand Academic Council

Question 15.
Income and Expenditure Account is preparedly :
(a) Trending Organisation
(b) Non-trading Organisation
(c) Both (a) and (b)
(d) None of these

Answer

Answer: (b) Non-trading Organisation

Question 16.
Sale of old newspapers is:
(a) Capital Receipt
(b) Revenue Receipt
(c) Asset
(d) Profit

Answer

Answer: (b) Revenue Receipt

Question 17.
Income and expenses related to the prize fund is shown in:
(a) Income and Expenditure Account
(b) Assets side of the Balance Sheet
(c) Liabilities side of the Balance Sheet
(d) Cash Account

Answer

Answer: (a) Income and Expenditure Account

Question 18.
Which of the following is not a not-for-profit organisation:
(a) School
(b) Hospital
(c) Club
(d) Partnership Firm

Answer

Answer: (d) Partnership Firm

Question 19.
Subscription received during the year 50,000 Rs. Subscriptions outstanding at the end of the year 8,000 Rs. Subscription outstanding at the beginning of the year 6,000 Rs. Net Income from subscription will be :
(a) 48,000 Rs.
(b) 64,000 Rs.
(c) 52,000 Rs.
(d) 36,000 Rs.

Answer

Answer: (c) 52,000 Rs.

Question 20.
Subscription received during the year ₹ 1,80,000 Subscriptions outstanding at the end of the year ₹ 20,000 Subscriptions received in advance at the end of the year ₹ 10,000. The amount of subscription to be credited to Income and Expenditure Account will be:
(a) ₹ 2,10,000
(b) ₹ 1,90,000
(c) ₹ 1,70,000
(d) ₹ 2,00,000

Answer

Answer: (b) ₹ 1,90,000

Question 21.
In case specific fund is maintained, the expenses exceeding the amount of the funds, should be recorded on:
(a) Liabilities side of the Balance Sheet
(b) Debit side of the Income and Expenditure Account
(c) Credit side of the Income and Expenditure Account
(d) Assets side of the Balance Sheet

Answer

Answer: (b) Debit side of the Income and Expenditure Account

Question 22.
Income and Expenditure Account is:
(a) Personal Account
(b) Real Account
(c) Nominal Account
(d) None of these

Answer

Answer: (c) Nominal Account

Question 23.
Life Membership Fees received by a club is shown in :
(a) Income and Expenditure A/c
(b) Balance Sheet
(c) Receipts and Payments A/c
(d) None of these

Answer

Answer: (b) Balance Sheet

Question 24.
Receipts and Payments Account is a :
(a) Personal Account
(b) Real Account
(c) Nominal Account
(d) None of these

Answer

Answer: (b) Real Account

Question 25.
Income and Expenditure Account is prepared :
(a) By Business Organisation
(b) By Industrial Organisation
(c) By Not-for-Profit Organisation
(d) By All Organisations

Answer

Answer: (c) By Not-for-Profit Organisation

Question 26.
Payment of honorarium to secretary is treated as :
(a) Capital expenditure
(b) Revenue expenditure
(c) An Income
(D/) None of these

Answer

Answer: (b) Revenue expenditure

Question 27.
Outstanding subscription is a:
(a) Income
(b) Asset
(c) (a) and (b) both
(d) None of these

Answer

Answer: (c) (a) and (b) both

Question 28.
Legacies should be treated as :
(a) A Liability
(b) A Revenue Receipt
(c) An Income
(d) None of these

Answer

Answer: (a) A Liability

Question 29.
The excess of assets over liabilities in non-trading concerns is termed as:
(a) Capital Fund
(b) Capital
(c) Profit
(d) Net Profit

Answer

Answer: (a) Capital Fund

Question 30.
For a non-trading concern, honorarium paid is:
(a) An Income
(b) An Asset
(c) An Expense
(d) None of these

Answer

Answer: (c) An Expense

For a non-trading concern, honorarium paid is:

Question 31.
Entrance fees, unless otherwise stated, is treated as:
(a) A Capital Receipt
(b) A Revenue Income
(c) A Liability
(d) None of these

Answer

Answer: (b) A Revenue Income

Question 32.
Specific donation is:
(a) Capital Receipt
(b) Revenue Receipt
(c) Asset
(d) None of these

Answer

Answer: (a) Capital Receipt

Question 33.
Income and Expenditure Account records transactions of:
(a) Capital nature only
(b) Revenue nature only
(c) (a) and (b) both
(d) None of these

Answer

Answer: (b) Revenue nature only

Question 34.
Life membership fee received by a club is:
(a) Revenue Receipt
(b) Capital Receipt
(c) (a) and (b) both
(d) None of these

Answer

Answer: (b) Capital Receipt

Question 35.
All receipts of capital nature are shown in :
(a) Income and Expenditure A/c
(b) Balance Sheet
(c) P. & L. A/c
(d) None of these

Answer

Answer: (b) Balance Sheet

Question 36.
All items of revenue in nature are shown in:
(a) Income and Expenditure A/c
(b) Balance Sheet
(c) (a) and (b) both
(d) None of these

Answer

Answer: (a) Income and Expenditure A/c

Question 37.
Which of the following is not a not-for-profit organisation ?
(a) College
(b) Sports Club
(c) Maruti Udyog
(d) Hospital

Answer

Answer: (c) Maruti Udyog

Question 38.
Subscriptions received in advance by a club are shown on… .of the Balance Sheet
(a) Assets Side
(b) Liabilities Side
(c) Debit Side
(d) Credit Side

Answer

Answer: (b) Liabilities Side

Question 39.
Which of the following is not an income ?
(a) Subscription
(b) Donation
(c) Sale of Ticket
(d) Endowment Fund

Answer

Answer: (d) Endowment Fund

Question 40.
Most transaction in non-trading concerns are:
(a) Cash
(b) Credit
(c) Both (a) and (b)
(d) None of these

Answer

Answer: (a) Cash

Question 41.
The main object of non-profit organisation is:
(a) To earn Profit
(b) To Serve the Society
(c) To Prepare Profit & Loss A/c
(d) All the above

Answer

Answer: (b) To Serve the Society

Question 42.
Subscription received by an organisation is:
(a) Capital Receipt
(b) Revenue Receipt
(c) Both (a) and (b)
(d) None of the above

Answer

Answer: (b) Revenue Receipt

We hope the given NCERT MCQ Questions for Class 12 Accountancy Chapter 1 Accounting for Not for Profit Organisation with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 12 Accountancy Accounting for Not for Profit Organisation MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 12 Accountancy MCQ:

MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers

Reconstitution of Partnership Firm: Admission of a Partner Class 12 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Pdf free download. MCQ Questions for Class 12 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Reconstitution of Partnership Firm: Admission of a Partner Class 12 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner MCQ With Answers

Accountancy Class 12 Chapter 3 MCQs On Reconstitution of Partnership Firm: Admission of a Partner

Admission Of A Partner MCQ Chapter 3 Class 12 Question 1.
Goodwill is nothing more than probability that the old customer will resort to the old place. This definition of goodwill was given by:
(a) Spicer and Pegler
(b) ICAI
(c) Lord Elton
(d) AICPA

Answer

Answer: (c) Lord Elton

Admission Of Partner MCQ Chapter 3 Class 12 Question 2.
Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned profits during 3 years as ₹ 20,000 ₹ 18,000 and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹5,000 in last 2 years. The amount of goodwill will be :
(a) ₹ 12,000
(b) ₹ 10,000
(c) ₹ 15,000
(d) None of these

Answer

Answer: (a) ₹ 12,000

MCQ Of Goodwill Class 12 Class 12 Question 3.
When there is no Goodwill Account in the books and goodwill is raised,…………….account will be debited :
(a) Partner’s Capital
(b) Goodwill
(c) Cash
(d) Reserve

Answer

Answer: (b) Goodwill

MCQ Questions For Class 12 Accountancy Chapter 3  Question 4.
The amount of goodwill is paid by new partner :
(a) for the payment of capital
(b) for sharing the profit
(c) for purchase of assets
(d) None of these

Answer

Answer: (b) for sharing the profit

MCQ On Admission Of A Partner Chapter 3 Class 12 Question 5.
At the time of admission of a new partners general reserve appearning in the old Balance Sheet is transferred to:
(a) All Partner’s Capital Accounts
(b) New Partner’s Capital Account
(c) Old Partners’. Capital Accounts
(d) None of these

Answer

Answer: (c) Old Partners’. Capital Accounts

MCQ Questions For Class 12 Accountancy Chapter Goodwill Question 6.
Profit or Loss on Revaluation is borne by:
(a) Old Partners
(b) New Partners
(c) All Partners
(d) Only Two Partners

Answer

Answer: (a) Old Partners

Admission Of Partner MCQ Pdf Chapter 3 Class 12 Question 7.
Share of goodwill brought by new partner in case is shared by old partners in :
(a) Sacrificing Ratio
(b) Old Ratio
(c) New Ratio
(d) Equal Ratio

Answer

Answer: (a) Sacrificing Ratio

Reconstitution Of Partnership Firm Class 12 MCQ Class 12 Question 8.
A, Band Care three partners sharing profits and losses in the ratio of 4:3:2. D is admitted for 1/10 share, the new ratio will be :
(a) 10 : 7 : 7 :4
(b) 5 : 3 : 2 : 1
(c) 4 : 3 : 2 : 1
(d) None of these

Answer

Answer: (c) 4 : 3 : 2 : 1

Question 9.
A and B are partners in a firm sharing profits in the ratio of 3:2. They admit C as a new partner for 1/3 rd share in the profits of the firm. The new profit sharing ratio of A, B and C would be :
(a) 3 : 2 : 1
(b) 3 : 2 : 2
(c) 3 : 2 : 3
(d) 6 : 4 : 5

Answer

Answer: (d) 6 : 4 : 5

Question 10.
X and Y are partners sharing profits in the ratio of 1:1. They admit Z for 1/5 th share who contributed ₹25,000 for his share of goodwill. The total value of goodwill of the firm will be :
(a) ₹ 2,50,000
(b) ₹ 50,000
(c) ₹ 1,00,000
(d) ₹ 1,25,000

Answer

Answer: (c) ₹ 1,00,000

Question 11.
A, B and C are partners in a firm. If D is admitted as a new partner, then:
(a) Old firm is dissolved
(b) Old firm and old partnership is dissolved
(c) Old Partnership is reconsitituted
(d) None of these

Answer

Answer: (c) Old Partnership is reconsitituted

A, B and C are partners in a firm. If D is admitted as a new partner, then:

Question 12.
In which ratio, the cash brought in for goodwill by the new partner is shared by the existing partners :
(a) Profit sharing ratio
(b) Capital ratio
(c) Sacrificing ratio
(d) None of these

Answer

Answer: (c) Sacrificing ratio

Question 13.
Sacrificing ratio is ascertained at the time of:
(a) Death of a partner
(b) Retirement of a partner
(c) Admission of a partner
(d) None of these

Answer

Answer: (c) Admission of a partner

Question 14.
If at the time of admission of new partner, Profit and Loss Account balance appears in the books, it will the transferred to:
(a) Profit & Loss Appropriation A/c
(b) All Partners’ Capital A/cs
(c) Old Partners’ Capital A/cs
(d) Revaluation A/c

Answer

Answer: (c) Old Partners’ Capital A/cs

Question 15.
State the ‘true’ statement:
(a) Profit & Loss Adjustment A/c is prepared for revaluated of assets and liabilities on the admission of a partner
(b) The new partner is liable for the past losses of the firm
(c) In case the new partner is unable to bring in cash for goodwill, Goodwill Account may be raised in the firm’s books as per AS-26
(d) When a partner is admitted, there is dissolution of firm

Answer

Answer: (a) Profit & Loss Adjustment A/c is prepared for revaluated of assets and liabilities on the admission of a partner

Question 16.
Excess of the credit side over the debit side of Revaluation account is:
(a) Profit
(b) Loss
(c) Gain
(d) Expense

Answer

Answer: (a) Profit

Question 17.
Balance sheet prepared after new partnership agreement, assets and liabilities are recorded at:
(a) Original Value
(b) Revalued Figure
(c) At Realisable Value
(d) Either of (a) or (b)

Answer

Answer: (b) Revalued Figure

Question 18.
Assets and Liabilities are shown at their revalued values in :
(a) New Balance Sheet
(b) Revaluation A/c
(c) All Partner’s Capital A/c’s
(d) Realisation A/c

Answer

Answer: (a) New Balance Sheet

Question 19.
Which of the following assets is compulsorily revalued at the time of admission of a new partner :
(a) stock
(b) Fixed Assets
(c) Investment
(d) Goodwill

Answer

Answer: (d) Goodwill

Question 20.
A and B are partners. C is admitted with 1/5 share. C brings 7 1,20,000 as his share towards capital. The total net worth of the firm is :
(a) ₹ 1,00,000
(b) ₹ 4,00,000
(c) ₹ 1,20,000
(d) ₹ 6,00,000

Answer

Answer: (d) ₹ 6,00,000

Question 21.
A and B share profits and losses in the ratio of 3:4. C was admitted for 1/5 th share. New profit sharing ratio will be:
(a) 3 : 4 : 1
(b) 12 : 16 : 7
(c) 16 : 12 : 7
(d) None of these

Answer

Answer: (b) 12 : 16 : 7

Question 22.
The opening balance of Partner’s Capital Account is credited with:
(a) Interest on Capital
(b) Interest on Drawings
(c) Drawings
(d) Share in loss

Answer

Answer: (a) Interest on Capital

Question 23.
Share of goodwill brought in cash by the new partner is called:
(a) Assets
(b) Profit
(c) Premium
(d) None of these

Answer

Answer: (c) Premium

Question 24.
If the incoming partner brings the amount of goodwill in cash and also a balance exists in Goodwill A/c, then the Goodwill A/c is written off among the old partners:
(a) In new profit-sharing ratio
(b) In old profit-sharing ratio
(c) In sacrificing ratio
(d) In gaining ratio

Answer

Answer: (b) In old profit-sharing ratio

Question 25.
A and B share profits and losses in the ratio of 3 : 1.C is admitted into partnership for 1/4 share. The sacrificing ratio of A and B is :
(a) Equal
(b) 3 : 1
(c) 2 : 1
(d) 3 : 2

Answer

Answer: (b) 3 : 1

Question 26.
A and B are partners sharing profites in the ratio of 3 : 1. They admit C for 1/4 share in future profits. The new profit sharing ratio will be:
(a) A\(\frac {9}{16}\), B\(\frac {3}{16}\), C\(\frac {4}{16}\)
(b) A\(\frac {8}{16}\), B\(\frac {4}{16}\), C\(\frac {4}{16}\)
(c) A\(\frac {10}{10}\), B\(\frac {2}{16}\), C\(\frac {4}{16}\)
(d) A\(\frac {8}{16}\), B\(\frac {9}{16}\), C\(\frac {10}{16}\)

Answer

Answer: (a) A\(\frac {9}{16}\), B\(\frac {3}{16}\), C\(\frac {4}{16}\)

Question 27.
Formula of Sacrificing ratio is:
(a) New Ratio – Old Ratio
(b) Old Ratio – New Ratio
(c) Gain Ratio – Sacrificing Ratio
(d) New Ratio – Sacrificing Ratio .

Answer

Answer: (b) Old Ratio – New Ratio

Question 28.
The accumulated profits and reserves are transferred to:
(a) Realisation A/c
(b) Partner’s Capital A/cs
(c) Bank A/c
(d) Savings A/c

Answer

Answer: (b) Partner’s Capital A/cs

Question 29.
A, B and C are equal partners. D is admitted to the firm for non-ourth share. D brings ₹ 20,000 as capital and ₹ 5,000 being half of the premium for goodwill. The value of goodwill of the firm is :
(a) ₹ 10,000
(b) ₹ 40,000
(c) ₹ 30,000
(d) None of these

Answer

Answer: (b) ₹ 40,000

Question 30.
On the admission of a new partner, increase in the value of assets is debited to which account ?
(a) Revaluation Account
(b) Assets Account
(c) Old Partners’ Capital Accounts
(d) None of these

Answer

Answer: (b) Assets Account

Question 31.
Z is admitted in a firm for a 1/4 share in the profit for which he brings 7 30,000 for goodwill. It will be taken away by the old partners X and Y in :
(a) Old profit-sharing ratio
(b) New profit-sharing ratio
(c) Sacrificing ratio
(d) Capital ratio

Answer

Answer: (c) Sacrificing ratio

Question 32.
On the admission of a new partner, the decrease in the value of assets is debited to:
(a) Revaluation Account
(b) Assets Account
(c) Old Partners’ Capital Accounts
(d) None of these

Answer

Answer: (a) Revaluation Account

Question 33.
When the new partner pays for goodwill in cash, the amount should be debited in the firm’s book to:
(a) Goodwill Account
(b) Cash Account
(c) Capital Account of new partner
(d) None of these

Answer

Answer: (b) Cash Account

Question 34.
The balance of Revaluation Account or Profit & Loss Adjustment Account is transferred to Old Partners’ Capital Accounts in their :
(a) Old profit-sharing ratio
(b) New profit-sharing ratio
(c) Equal ratio
(d) Capital ratio

Answer

Answer: (a) Old profit-sharing ratio

Question 35.
X and Y share profits in the ratio of 3 : 2 Z was admitted as a partner who gets 1/5 share. Z acquires 3/20 from X and 1/20 from Y. The new profit sharing ratio will be :
(a) 9 : 7 : 4
(b) 8 : 8 : 4
(c) 6 : 10 : 4
(d) 10 : 6 :4

Answer

Answer: (a) 9 : 7 : 4

Question 36.
The opening balance of Partner’s Capital Account is credited with:
(a) Interest on Capital
(b) Interest on Drawings
(c) Drawings
(d) Share in loss

Answer

Answer: (a) Interest on Capital

Question 37.
At the time of admission of a new partner, Undistributed Profits appearing in the Balance Sheet of the old firm is transferred to the Capital Account of:
(a) Old partners is old profit-sharing ratio
(b) Old partners in new profit-sharing ratio
(c) All the partners in the new profit-sharing ratio
(d) None of these

Answer

Answer: (a) Old partners is old profit-sharing ratio

Question 38.
Z is admitted in a firm for al/4 share in the profit for which he brings 7 30,000 for goodwill. It will be taken away by the old partners X and Y in :
(a) Old profit-sharing ratio
(b) New profit-sharing ratio
(c) Sacrificing ratio
(d) Capital ratio

Answer

Answer: (c) Sacrificing ratio

Question 39.
General Reserval at the time of admission of a new partner is transferred to :
(a) Revaluation Account
(b) Old Partner’s Capital Account
(c) Profit and Loss Adjustment Account
(d) Realisation Account

Answer

Answer: (b) Old Partner’s Capital Account

Question 40.
Change in profit-sharing ratio of existing partners results in:
(a) Revaluation of Firm
(b) Reconstitutions of Firm
(c) Dissolution of Firm
(d) None of these

Answer

Answer: (b) Reconstitutions of Firm

Question 41.
X, Y and Z are partners in a firm, they divided profit and loss in the ratio of 4:3:1. They decided to share profit In the ratio 5:4:3. X’s and Y’s sacrifices are :
(a) \(\frac{2}{24}: \frac{1}{24}\)
(b) \(\frac{1}{24}: \frac{3}{24}\)
(c) \(\frac{2}{24}: \frac{3}{24}\)
(d) None of these

Answer

Answer: (a) \(\frac{2}{24}: \frac{1}{24}\)

Question 42.
On reconstitution of a partnership firm, recording of an unrecorded liability wil result in:
(a) Gain to the existing partners
(b) Loss to the existing partners
(c) Neither gain nor loss to the existing partners
(d) None of these

Answer

Answer: (b) Loss to the existing partners

Question 43.
Increase In the value of assets on reconstitution of the partnership firm results into :
(a) Gain to the existing partners
(b) Loss to the existing partners
(c) Neither gain nor loss to the existing partners
(d) None of these

Answer

Answer: (a) Gain to the existing partners

Question 44.
The balance of Revaluation Account is transferred to old Partner’s Capital Accounts in their:
(a) Old Profit-sharing Ratio
(b) New Profit-sharing Ratio
(c) Equal Ratio
(d) None of these

Answer

Answer: (a) Old Profit-sharing Ratio

Question 45.
X and Y share profits in the ratio 2 :3. In future they have decided to share profits in equal ratio. Which partner will sacrifice in which ratio ?
(a) X sacrifice 1/10
(b) Y sacrifice 1/5
(c) Y sacrifice 1/10
(d) None of these

Answer

Answer: (c) Y sacrifice 1/10

Question 46.
Change in the partnership agreement results in:
(a) Reconstitution of Firm
(b) Dissolution of Firm
(c) Amalgamation of Firm
(d) None of these

Answer

Answer: (a) Reconstitution of Firm

Question 47.
Change in the partnership agreement:
(a) Changes the relationship among the partners
(b) Results in end of partnership business
(c) Dissolves the partnership firm
(d) None of these

Answer

Answer: (a) Changes the relationship among the partners

Question 48.
Excess of credit side over the debit side in Revalution Account is:
(a) Profit
(b) Loss
(c) Receipt
(d) Expense

Answer

Answer: (a) Profit

Question 49.
A, B and C are partners in a firm, if D is admitted as a new partner:
(a) Old firm is dissolved
(b) Old firm and old partnership are dissolved
(c) Old partnership is reconstituted
(d) None of these

Answer

Answer: (c) Old partnership is reconstituted

Question 50.
Recording of an unrecorded asset on the reconstltutlam of a partnership firm will be:
(a) A gain to the existing partners
(b) A loss to the existing partners
(c) Neither a gain nor a loss to the existing partners
(d) None of these

Answer

Answer: (a) A gain to the existing partners

Question 51.
Revaluation Account or Profit & Loss Adjustment Account is a:
(a) Personal Account
(b) Real Account
(c) Nominal Account
(d) None of these

Answer

Answer: (c) Nominal Account

Question 52.
A, B, C and D are partners sharing their profits and losses equally. They change their profit sharing ratio to 2:2:1:1. How much will C sacrifice ?
(a) 1/6
(b) 1/12
(c) 1/24
(d) None of these

Answer

Answer: (d) None of these

Question 53.
Sacrificing Ratio:
(a) New Ratio – Old Ratio
(b) Old Ratio – New Ratio
(c) Gaining Ratio – Old Ratio
(d) Old Ratio – Gaining Ratio

Answer

Answer: (b) Old Ratio – New Ratio

Question 54.
Gaining Ratio:
(a) New Ratio – Old Ratio
(b) Old Ratio – Sacrificing Ratio
(c) New Ratio – Sacrificing Ratio
(d) Old Ratio – New Ratio

Answer

Answer: (a) New Ratio – Old Ratio

Question 55.
X and Y share profit and loss in 3:2. From 1st January, 2017 they agreed to share profit equally. Their sacrifice or gain will be :
(a) Sacrifice by X: 1/10
(b) Sacrifices by Y : 1/10
(c) Both (a) and (b)
(d) Non of these

Answer

Answer: (c) Both (a) and (b)

Question 56.
At the time of admission of a new partner, General Reserve a appearing in the old Balances Sheet is transferred to:
(a) All Partner’s Capital Accounts .
(b) New Partners’ Capital Accounts
(c) Old Partner’s Capital Accounts
(d) None of these

Answer

Answer: (c) Old Partner’s Capital Accounts

Question 57.
Change in profit-sharing ratio of existing partners results in:
(a) Revaluation of Firm
(b) Reconstitution of Firm
(c) Dissolution of Firm
(d) None of these

Answer

Answer: (b) Reconstitution of Firm

Question 58.
Generally the interest on capital is considered as :
(a) An appropriation of profit
(b) An Asset
(c) An Expense
(d) None of these

Answer

Answer: (a) An appropriation of profit

Question 59.
Increase in the value of assets on reconstitution of the partnership firm results into:
(a) Gain to the existing partners
(b) Loss to the existing partners
(c) Neither a gain nor a loss to the existing partners
(d) None of these

Answer

Answer: (a) Gain to the existing partners

Question 60.
Following are the factors affecting goodwill except:
(a) Nature of business
(b) Efficiency of Management
(c) Technical Knowledge
(d) Location of the Customers

Answer

Answer: (c) Technical Knowledge

Question 61.
The profit of the last three years are ₹ 42,000, ₹ 39,000 and ₹ 45,000. Value of goodwill at two years purchases of the average profits will be :
(a) ₹ 42,000
(b) ₹ 84,000
(c) ₹ 1,26,000
(d) ₹ 36,000

Answer

Answer: (b) ₹ 84,000

Question 62.
Under average profit basis goodwill is calculated by :
(a) No. of years’ purchased x Average profit
(b) No. of years’ purchased x Super profit
(c) Super Profit -r Expected Rate of Return
(d) None of these

Answer

Answer: (a) No. of years’ purchased x Average profit

Question 63.
Goodwill is:
(a) Tangible Asset
(b) Intangible Asset
(c) Current Asset
(d) None of these

Answer

Answer: (b) Intangible Asset

Question 64.
An asset which is not ficitious but intangible in nature, having realisable value is :
(a) Machinery
(b) Building
(c) Furniture
(d) Goodwill

Answer

Answer: (d) Goodwill

Question 65.
Which of the following is not a method of valuation of Goodwill:
(a) Revaluation Method
(b) Average Profit Method
(c) Super Profit Method
(d) Capitalisation Method

Answer

Answer: (a) Revaluation Method

Question 66.
The excess of average profits over the normal profits are called :
(a) Super Profits
(b) Fixed Profits
(c) Abnormal Profits
(d) Normal Profits

Answer

Answer: (a) Super Profits

The excess of average profits over the normal profits are called :

Question 67.
Goodwill is a…………….asset
(a) Useless
(b) Tangible
(c) Worthless
(d) Valuable

Answer

Answer: (c) Worthless

Question 68.
Under super profit basis goodwill is calculated by :
(a) No. of years’ purchased x Average Profit
(b) No. of years’ purchased x Super profit
(c) Super profit -r Expected rate of return
(d) None of these

Answer

Answer: (b) No. of years’ purchased x Super profit

Question 69.
Profits of the last three years were ₹ 6,000, ₹ 13,000 and ₹ 8,000 respectively. Goodwill at two years purchase of the average net profit will be :
(a) ₹ 81,000
(b) ₹ 27,0000
(c) ₹ 9,000
(d) ₹ 18,000

Answer

Answer: (d) ₹ 18,000

Question 70.
What do you mean by Super Profit ?
(a) Total Profit/No. of Years
(b) Average Profit – Normal Profit
(c) Weighted Profit/No. of Years’ Purchase
(d) None of these

Answer

Answer: (b) Average Profit – Normal Profit

Question 71.
Capital employed in a business is ₹ 1,50,000. Profits are ₹ 50,000 and the normal rate of profit is 20%. The amount of goodwill as per capitalisation method will be:
(a) ₹ 2,00,000
(b) ₹ 1,50,000
(c) ₹ 3,00,000
(d) ₹ 1,00,000

Answer

Answer: (d) ₹ 1,00,000

Question 72.
Weighted average method of calculating goodwill is used when:
(a) Profits are equal
(b) Profit has increasing trend
(c) Profit has decreasing trend
(d) Either (b) or (c)

Answer

Answer: (d) Either (b) or (c)

Question 73.
The monetary value of reputation of the business is called:
(a) Goodwill
(b) Super Profit
(c) Surplus
(d) Abnormal Profit

Answer

Answer: (a) Goodwill

Question 74.
A firm has an average profit of ₹ 60,000 Rate of return on capital employed is 12.5% p.a. Total capital employed in the firm was ₹ 4,00,000. Goodwill on the basis of two years purchase of super profit is :
(a) ₹ 20,000
(b) ₹ 15,000
(c) ₹ 10,000
(d) None of these

Answer

Answer: (a) ₹ 20,000

Question 75.
Under capitalisation method, goodwill is calculated by :
(a) Average Profit x No. of Years’ Purchase
(b) Super Profit x No. of Years’ Purchase
(c) Total of the discounted value of expected future benefits
(d) Super Profit -r Expected Rate of Return

Answer

Answer: (d) Super Profit -r Expected Rate of Return

Question 76.
“Goodwill is nothing more than probability that the old customer will resort to the old place.” This definition of goodwill was given by :
(a) Spicer and Pegler
(b) ICAI
(c) Lord Eldon
(d) AICPA

Answer

Answer: (c) Lord Eldon

Question 77.
What will be the value of goodwill at twice the average of last three years profit if the profits of the last three years were ₹ 4,000, ₹ 5,000 and ₹ 6,000 ?
(a) ₹ 5,000
(b) ₹ 10,000
(c) ₹ 8,000
(d) None of these

Answer

Answer: (b) ₹ 10,000

Question 78.
The Valuation of Goodwill is not necessary in Sole Trading:
(a) On selling the Firm
(b) On making a partner
(c) On estimation of Assets
(d) On Closing the Firm

Answer

Answer: (d) On Closing the Firm

We hope the given NCERT MCQ Questions for Class 12 Accountancy Chapter 3 Reconstitution of Partnership Firm: Admission of a Partner with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 12 Accountancy Reconstitution of Partnership Firm: Admission of a Partner MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 12 Accountancy MCQ:

MCQ Questions for Class 11 Sociology Chapter 1 Social Structure, Stratification and Social Processes in Society with Answers

Social Structure, Stratification and Social Processes in Society Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Sociology Chapter 1 Social Structure, Stratification and Social Processes in Society with Answers Pdf free download. MCQ Questions for Class 11 Sociology with Answers were prepared based on the latest exam pattern. We have provided Social Structure, Stratification and Social Processes in Society Class 11 Sociology MCQs Questions with Answers to help students understand the concept very well.

Class 11 Sociology Chapter 1 Social Structure, Stratification and Social Processes in Society MCQ With Answers

Sociology Class 11 Chapter 1 MCQs On The Social Structure, Stratification and Social Processes in Society

Question 1.
Life Chances, Social Statuses, and political influences are enjoyed by __________
(a) Primary Groups
(b) Tertiary Groups
(c) Privilege Groups
(d) Interest Groups

Answer

Answer: (c) Privilege Groups

Question 2.
Unit of social structure is
(a) institution
(b) association
(c) social groups
(d) all of these

Answer

Answer: (d) all of these

Question 3.
The notion that human beings have to cooperate to meet their basic needs, and to produce and reproduce themselves and their world was supported by
(a) Emile Durkheim
(b) Charles Darwin
(c) Tom Bottomore
(d) Durkheim and Karl Marx

Answer

Answer: (d) Durkheim and Karl Marx

Question 4.
Admission procedures, codes of conduct, daily assemblies, annual functions, and school anthems are the examples of
(a) family structure
(b) political structure
(c) school structure
(d) religious structure

Answer

Answer: (c) school structure

Question 5.
The choices an individual makes/has in life, in terms of the school she goes to, or if she goes to school at all, the clothes she gets to wear, the foods she consumes, etc all of which is determined by _______
(a) Status
(b) Role
(c) Prestige
(d) All the above

Answer

Answer: (a) Status

Question 6.
The universal features of all societies are
(a) growth, development, and progress
(b) co-operation, conflict, and competition
(c) urbanisation and industrialisation
(d) tradition and modernity

Answer

Answer: (b) co-operation, conflict, and competition

Question 7.
The central concepts to understanding the dialectical relationship between the society and individual are _______
(a) Structure
(b) Stratification
(c) Social processes
(d) All the above

Answer

Answer: (d) All the above

Question 8.
‘The clash of interests’ is known as
(a) conflict
(b) competition
(c) co-operation
(d) class struggle

Answer

Answer: (a) conflict

Question 9.
With co-operation, conflict and competition are also the parts of
(a) modern societies
(b) tribal societies
(c) rural societies
(d) Indian societies

Answer

Answer: (a) modern societies

Question 10.
“Social structure constrains our activities to constructed frameworks and patterns of organization and directs our behaviour”. Name the thinker.
(a) Max Weber
(b) Durkheim
(c) Bottomore
(d) K. Marx

Answer

Answer: (b) Durkheim

Question 11.
The term ‘social structure’ means that society
(a) is stratified
(b) has concrete structure
(c) is captured
(d) is structured

Answer

Answer: (a) is stratified

Question 12.
Expansion of trade, division of labour, specialization, and rising productivity are the features of
(a) post-industrialization
(b) democracy
(c) capitalism
(d) religious rituals

Answer

Answer: (c) capitalism

We hope the given NCERT MCQ Questions for Class 11 Sociology Chapter 1 Social Structure, Stratification and Social Processes in Society with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Sociology Social Structure, Stratification and Social Processes in Society MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 11 Sociology with Answers MCQ:

  1. Social Structure, Stratification and Social Processes in Society Class 11 MCQ
  2. Social Change and Social Order in Rural and Urban Society Class 11 MCQ
MCQ Questions for Class 11 Business Studies Chapter 11 International Business 1 with Answers

International Business 1 Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 11 International Business 1 with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided International Business 1 Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 11 Business Studies Chapter 11 International Business 1 MCQ With Answers

Business Studies Class 11 Chapter 11 MCQs On International Business 1

MCQ Questions For Class 11 Business Studies Chapter 11 Question 1.
Which one of the following is not amongst India’s major trading partners?
(a) USA
(b) UK
(c) Germany
(d) New Zealand

Answer

Answer: (d) New Zealand

International Business Class 11 MCQ Question 2.
Which one of the following is not amongst India’s major export items?
(a) Textiles and garments
(b) Gems and jewellery
(c) Oil and petroleum products
(d) Basmati rice

Answer

Answer: (c) Oil and petroleum products

International Trade Class 11 MCQ Question 3.
Which one of the following modes of entry permits greatest degree of control over overseas operations?
(a) Licensing/franchising
(b) Wholly owned subsidiary
(c) Contract manufacturing
(d) Joint venture

Answer

Answer: (b) Wholly owned subsidiary

International Business MCQ Class 11 Question 4.
Which of the following is not an advantage of exporting?
(a) Easier way to enter into international markets
(b) Comparatively lower risks
(c) Limited presence in foreign markets
(d) Less investment requirements

Answer

Answer: (c) Limited presence in foreign markets

MCQs Of International Business Class 11 Question 5.
Outsourcing a part of or entire production and concentrating on marketing operations in international business is known as
(a) Licensing
(b) Franchising
(c) Contract manufacturing
(d) Joint venture

Answer

Answer: (c) Contract manufacturing

Question 6.
The OECD stands for:
(a) Organization for Economic Co-operation and Development
(b) Organization for Economic Coordination and Development
(c) Organization for Environmental Cooperation and Development.
(d) Organization for Environmental Control and Development

Answer

Answer: (a) Organization for Economic Co-operation and Development

Question 7.
_______ is the first step in the internationalization process.
(a) License
(b) Foreign Investment
(c) Sales
(d) Export

Answer

Answer: (a) License

Question 8.
The main promoter of trade liberalization was
(a) GATT
(b) NAFTA
(c) CEPTA
(d) CISA

Answer

Answer: (a) GATT

Question 9.
NAFTA stands for
(a) North African trade association
(b) North American free trade agreement
(c) Northern Atlantic trade agreement
(d) Northern association for trade

Answer

Answer: (b) North American free trade agreement

Question 10.
The WTO was established to implement the final act of Uruguay Round agreement of ……
(a) MFA
(b) GATT
(c) TRIP’s
(d) UNO

Answer

Answer: (b) GATT

Question 11.
The —————- company produces, markets, invests and operates across the world
(a) Global
(b) International
(c) Transnational
(d) Multinational

Answer

Answer: (c) Transnational

Question 12.
Select example of Indian Multinational Company
(a) Hindusthan Unilever
(b) Videocon
(c) Cargill
(d) Tesco

Answer

Answer: (b) Videocon

Question 13.
…….is the payment method most often used in International Trade which offers the exporter best assurance of being paid for the products sold internationally.
(a) Bill of Lading
(b) Letter of Credit
(c) Open Account
(d) Drafts

Answer

Answer: (b) Letter of Credit

Question 14.
Which of the following is not a force in the Porter Five Forces model?
(a) Buyers
(b) Suppliers
(c) Complementary products
(d) Industry rivalry

Answer

Answer: (c) Complementary products

Question 15.
Which is not an Indian Multinational Company?
(a) Unilever
(b) Asian Paints
(c) Piramal
(d) Wipro

Answer

Answer: (a) Unilever

Question 16.
……………is the application of knowledge which redefines the boundaries of global business
(a) Cultural Values
(b) Society
(c) Technology
(d) Economy

Answer

Answer: (c) Technology

Question 17.
The Theory of Relative Factor Endowments is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taussig
(d) Ohlin and Hecksher

Answer

Answer: (d) Ohlin and Hecksher

Question 18.
According to this theory, the holdings of a country’s treasure primarily in the form of gold constituted its wealth.
(a) Gold Theory
(b) Ricardo Theory
(c) Mercantilism
(d) Hecksher Theory

Answer

Answer: (c) Mercantilism

Question 19.
Which is the right sequence of stages of Internationalization
(a) Domestic, Transnational, Global, International, Multinational
(b) Domestic, International, Multinational, Global, Transnational
(c) Domestic, Multinational, International, Transnational, Global
(d) Domestic, International, Transnational, Multinational, Global

Answer

Answer: (b) Domestic, International, Multinational, Global, Transnational

Question 20.
IBRD (International Bank for Reconstruction and Development) also known as
(a) Exim Bank
(b) World Bank
(c) International Monetary fund
(d) International Bank

Answer

Answer: (b) World Bank

Question 21.
Which one of the following is not amongst India’s major import items?
(a) Ayurvedic medicines
(b) Oil and petroleum products
(c) Pearls and precious stones
(d) Machinery

Answer

Answer: (b) Oil and petroleum products

Question 22.
Which one of the following modes of entry brings the firm closer to international markets?
(a) Licensing
(b) Franchising
(c) Contract manufacturing
(d) Joint venture

Answer

Answer: (d) Joint venture

Question 23.
Which one of the following modes of entry requires higher level of risks?
(a) Licensing
(b) Franchising
(c) Contract manufacturing
(d) Joint venture

Answer

Answer: (d) Joint venture

Question 24.
When two or more firms come together to create a new business entity that is legally separate and distinct from its parents it is known as
(a) Contract manufacturing
(b) Franchising
(c) Joint ventures
(d) Licensing

Answer

Answer: (c) Joint ventures

Question 25.
In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee
(a) Licensing
(b) Contract manufacturing
(c) Joint venture
(d) None of these

Answer

Answer: (a) Licensing

One Mark Questions

1. What is International Business?

Answer

Answer: International Business is a business activities take place across the geographical boundaries.

2. State any one type of international business.

Answer

Answer: Direct Investment.

3. State any one mode of entry into international business.

Answer

Answer: Franchising.

4. State any one reason for international business.

Answer

Answer: Change in fashion and technology

5. What is Export business?

Answer

Answer: An export is a function of international trade whereby goods produced in one country are shipped to another country for future sale or trade.

We hope the given NCERT MCQ Questions for Class 11 Business Studies Chapter 11 International Business 1 with Answers Pdf free download will help you. If you have any queries regarding International Business 1 CBSE Class 11 Business Studies MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Business Studies Chapter 12 International Business 2 with Answers

International Business 2 Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 12 International Business 2 with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided International Business 2 Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 11 Business Studies Chapter 12 International Business 2 MCQ With Answers

Business Studies Class 11 Chapter 12 MCQs On International Business 2

International Business MCQ Chapter 12 Class 11 Question 1.
TRIP is one of the WTO agreements that deal with
(a) Trade in agriculture
(b) Trade in services
(c) Trade related investment measures
(d) None of these

Answer

Answer: (d) None of these

International Business Management MCQ Chapter 12 Class 11  Question 2.
The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is
(a) Letter of hypothetication
(b) Letter of credit
(c) Bill of lading
(d) Bill of exchange

Answer

Answer: (b) Letter of credit

MCQ On International Business Chapter 12 Class 11 Question 3.
A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as
(a) Shipping receipt
(b) Mate receipt
(c) Cargo receipt
(d) Charter receipt

Answer

Answer: (b) Mate receipt

International Business MCQs Chapter 12 Class 11 Question 4.
Which one of the following is not a document related to fulfill the customs formalities
(a) Shipping bill
(b) Export license
(c) Letter of insurance
(d) Proforma invoice

Answer

Answer: (d) Proforma invoice

International Business Management MCQ Questions Chapter 12 Class 11  Question 5.
Which of the following documents is not required in connection with an import transaction?
(a) Bill of lading
(b) Shipping bill
(c) Certificate of origin
(d) Shipment advice

Answer

Answer: (c) Certificate of origin

MCQ Of International Business Chapter 12 Class 11 Question 6.
SMEs stands for:
(a) Small and Medium Entrepreneurs
(b) Small Management of Enterprises
(c) Small and Medium-sized Enterprises.
(d) Societies for Managing Exports

Answer

Answer: (c) Small and Medium-sized Enterprises.

MCQs On International Business Chapter 12 Class 11 Question 7.
MNC Stands for
(a) Multi-National Cooperation
(b) Multi-National Corporation
(c) Multi-National Company
(d) Multi-National Collaboration

Answer

Answer: (b) Multi-National Corporation

International Business MCQ With Answers Chapter 12 Class 11 Question 8.
IPR stands for
(a) Intellectual property rights
(b) International property rights
(c) Internal promotion rights
(d) Interior promotional rights

Answer

Answer: (a) Intellectual property rights

International Business MCQ With Answers Pdf Chapter 12 Class 11 Question 9.
WTO stands for
(a) World technology association
(b) World time organization
(c) World trade organization
(d) World tourism organization

Answer

Answer: (c) World trade organization

International Business Economics MCQ Chapter 12 Class 11 Question 10.
…..is only a legal agreement and it is not an institution, but ….. is a permanent institution.
(a) GATT, WTO
(b) WTO, GATT
(c)WTO, IMF
(d) IMF, GATT

Answer

Answer: (a) GATT, WTO

International Business MCQ With Answers Pdf Download Chapter 12 Question 11.
…………………corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.
(a) Global
(b) International
(c) Transnational
(d) None of the above

Answer

Answer: (a) Global

MCQ Questions On International Business Chapter 12 Class 11 Question 12.
Key controllable factors in global marketing are:
(a) Government policy and legislation
(b) social and technical changes
(c) marketing activities and plans
(d) all of the above.

Answer

Answer: (c) marketing activities and plans

International Business MCQ Questions And Answers Chapter 12 Class 11 Question 13.
Comparative Cost Trade Theory is given by
(a) Adam Smith
(b) David Ricardo
(c) Gottfried Haberler
(d) Heckscher Ohlin

Answer

Answer: (b) David Ricardo

MCQs Of International Business Chapter 12 Class 11 Question 14.
Globalization refers to:
(a) Lower incomes worldwide
(b) Less foreign trade and investment
(c) Global warming and their effects
(d) A more integrated and interdependent world

Answer

Answer: (d) A more integrated and interdependent world

International Business MCQ Questions Chapter 12 Class 11 Question 15.
Capitalistic, communistic and Mixed are the types of
(a) Economic System
(b) Social System
(c) Cultural Attitudes
(d) Political System

Answer

Answer: (a) Economic System

Question 16.
The theory of comparative cost advantage is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taussig
(d) Ohlin and Hecksher

Answer

Answer: (a) David Ricardo

Question 17.
The Theory of Absolute Cost Advantage is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taylor
(d) Ohlin and Heckscher

Answer

Answer: (b) Adam Smith

Question 18.
Subsidiaries consider the regional environment for policy / Strategy formulation is known as
(a) Polycentric Approach
(b) Regiocentric Approach
(c) Ethnocentric Approach
(d) Geocentric Approach

Answer

Answer: (b) Regiocentric Approach

Question 19.
Ultimately ………………was replaced by the …………….on 1st Jan 1995
(a) GATS, WTO
(b) WTO, GATT
(c) GATT, WTO
(d) IMF, GATT

Answer

Answer: (c) GATT, WTO

Question 20.
The first phase of globalization started around 1870 and ended with …..
(a) World War I
(b) World War II
(c) The Establishment of GATT
(d) In 1913 when GDP was High

Answer

Answer: (a) World War I

Question 21.
Which of the following does not belong to the World Bank group?
(a) IBRD
(b) IDA
(c) MIGA
(d) IMF

Answer

Answer: (d) IMF

Question 22.
Which of the following document is prepared by the exporter and includes details of the cargo in terms of the shipper’s name, the number of packages, the shipping bill, port of destination, name of the vehicle carrying the cargo?
(a) Shipping bill
(b) Packaging list
(c) Mate’s receipt
(d) Bill of exchange

Answer

Answer: (d) Bill of exchange

Question 23.
Which one of the following is not a part of export documents?
(a) Commercial invoice
(b) Certificate of origin
(c) Bill of entry
(d) Mate’s receipt

Answer

Answer: (c) Bill of entry

Question 24.
Which of the following do not form part of duty drawback scheme?
(a) Refund of excise duties
(b) Refund of customs duties
(c) Refund of export duties
(d) Refund of income dock charges at the port of shipment

Answer

Answer: (d) Refund of income dock charges at the port of shipment

Question 25.
Which of the following documents are not required for obtaining an export license?
(a) IEC number
(b) Letter of credit
(c) Registration cum membership certificate
(d) Bank account number

Answer

Answer: (b) Letter of credit

One Marks Questions

1. Expand IEC.

Answer

Answer: Import Export Code.

2. Expand WTO

Answer

Answer: World Trade Organisation

3. Mention any one document of export trade.

Answer

Answer: Shipping Bill

4. Expand FTZ.

Answer

Answer: Free Trade Zones

5. Expand SEZ.

Answer

Answer: Special Economic Zones

6. Expand IIFT.

Answer

Answer: Indian Institute of Foreign Trade

7. Expand IMF.

Answer

Answer: International Monetary Fund

8. What is D.P bill?

Answer

Answer: DP inpayment term of imports and exports means Documents against Payments.

9. What is D.A bid?

Answer

Answer: DA in payment term of international trade means, Documents against Acceptance

10. Expand BOL.

Answer

Answer: Bill of Lading

11. Expand EIC.

Answer

Answer: Export Inspection council

12. Expand UNCTAD.

Answer

Answer: United Nations Conference on Trade and Development.

13. Expand EPZ.

Answer

Answer: Export Processing Zones.

14. Expand EOU.

Answer

Answer: Export Oriented Units

15. Name any one export processing zone.

Answer

Answer: Cochin export processing zone

We hope the given NCERT MCQ Questions for Class 11 Business Studies Chapter 12 International Business 2 with Answers Pdf free download will help you. If you have any queries regarding International Business 2 CBSE Class 11 Business Studies MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Business Studies Chapter 5 Emerging Modes of Business with Answers

Emerging Modes of Business Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 5 Emerging Modes of Business with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided Emerging Modes of Business Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 11 Business Studies Chapter 5 Emerging Modes of Business MCQ With Answers

Business Studies Class 11 Chapter 5 MCQs On Emerging Modes of Business

Emerging Modes Of Business Class 11 MCQ Question 1.
Here, parties involved in the electronic transactions are from within a given business firm, hence, the name is ________
(a) Intra-C Commerce
(b) Intra-D Commerce
(c) Intra-B Commerce
(d) Intra-A Commerce

Answer

Answer: c) Intra-B Commerce

Emerging Modes Of Business MCQ Question 2.
Both Sellers and buyers are business firms, under ___type of e-commere transaction
(a) B2B Commerce
(b) C2B Commerce
(c) B2C Commerce
(d) C2C Commerce

Answer

Answer: (a) B2B Commerce

MCQ Questions For Class 11 Business Studies Chapter 5 Question 3.
Which method is very popular for making online transactions?
(a) Credit Card
(b) All of these
(c) Net banking
(d) Debit Card

Answer

Answer: (d) All of these

Class 11 Business Studies Chapter 5 MCQ Question 4.
____________ refers to contracting out some of its activities to a third party which were earlier performed by the organisation.
(a) BPO
(b) E-Commerce
(c) Outsourcing
(d) E-Banking

Answer

Answer: (c) Outsourcing

Chapter 5 Business Studies Class 11 MCQ Question 5.
Under what method payment is made at the time of physical delivery of goods
(a) Cash on delivery
(b) Debit card payment
(c) Credit card payment
(d) Prepaid amount

Answer

Answer: (a) Cash on delivery

Business Studies Class 11 Chapter 5 MCQ Question 6.
It is not an application of e-business
(a) Contract R&D
(b) Online trading
(c) Online procurement
(d) Online bidding

Answer

Answer: (a) Contract R&D

MCQ Of Emerging Modes Of Business Question 7.
The payment mechanism typical to e-business
(a) Credit and Debit Cards
(b) Cash on Delivery (CoD)
(c) Cheques
(d) e-Cash

Answer

Answer: (a) Credit and Debit Cards

Ch 5 Business Studies Class 11 MCQ Question 8.
e-commerce does not include
(a) A business?s interactions with its customers
(b) Interactions among the various departments within the business
(c) A business?s interactions with its suppliers
(d) Interactions among the geographically dispersed units of the business

Answer

Answer: (b) Interactions among the various departments within the business

Ch 5 Bst Class 11 MCQ Question 9.
____transactions have business firms at one end and its customers on the other end.
(a) C2B Commerce
(b) B2C Commerce
(c) B2B Commerce
(d) C2C Commerce

Answer

Answer: (b) B2C Commerce

Emerging Modes Of Business Class 11 MCQs Question 10.
Complaint lodged by a customer at the company?s call centre is _______ type of e-business transaction.
(a) C2C Commerce
(b) C2B Commerce
(c) B2C Commerce
(d) B2B Commerce

Answer

Answer: (b) C2B Commerce

Chapter 5 Bst Class 11 MCQ Question 11.
Both buyers and sellers are customers under_______ type of e-business transaction
(a) C2C Commerce
(b) B2C Commerce
(c) C2B Commerce
(c) B2B Commerce

Answer

Answer: (a) C2C Commerce

Class 11 Bst Chapter 5 MCQ Question 12.
India is the preferred destination for BPO because of ____________
(a) Tax Free Zone for BPOs
(b) Cheap People
(c) Cheap Manpower
(d) Poor conditions

Answer

Answer: (c) Cheap Manpower

Bst Class 11 Chapter 5 MCQ Question 13.
Out of e-commerce and e-business, which is a broader term?
(a) None of these
(b) both e-business and e-commerce are same thing
(c) e-commerce
(d) e-business

Answer

Answer: (d) e-business

Class 11 Bst Ch 5 MCQ Question 14.
A Call Centre handles
(a) Both customer facing and back-end business
(b) Both voice based and non-voice based business
(c) Only out-bound voice based business
(d) Only in bound voice based business

Answer

Answer: (a) Both customer facing and back-end business

Emerging Modes Of Business MCQs Question 15.
Outsourcing
(a) Includes off shoring
(b) Restricts only to the contracting out of Information Technology Enabled Services (ITES)
(c) Restricts only to the contracting out of non-core business processes
(d) Includes contracting out of manufacturing and R&D as well as service processes ? both core and non-core ? but restricts only to domestic territory

Answer

Answer: (a) Includes off shoring

One Mark Questions

1. What is e-business?

Answer

Answer: Electronic Commerce is sharing business information, maintaining business relationships and conducting business transactions by means of telecommunications networks.

2. Expand B2B

Answer

Answer: Business to Business.

3. What is Intra-B?

Answer

Answer: This refers to transactions between the parties or persons who are the part of one firm only.

4. Expand C2C.

Answer

Answer: Consumer to consumer

5. Write one benefit of the e-business.

Answer

Answer: Global reach

6. Expand COD.

Answer

Answer: Cash on Delivery.

7. Mention-one limitation of e-business.

Answer

Answer: Low Personal touch

8. What are cookies?

Answer

Answer: Cookies is a small piece of data sent from a website and stored on the user’s computer by the user’s web browser while the user is browsing.

9. Expand BPO.

Answer

Answer: Business Process outsourcing

10. What is plastic money?

Answer

Answer: Credit Card, Debit card, ATM card etc are, used as alternative to money such as cash or cheque, and are made of plastic, th% are also called as Plastic money.

We hope the given NCERT MCQ Questions for Class 11 Business Studies Chapter 5 Emerging Modes of Business with Answers Pdf free download will help you. If you have any queries regarding Emerging Modes of Business CBSE Class 11 Business Studies MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics with Answers

Social Responsibilities of Business and Business Ethics Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided Social Responsibilities of Business and Business Ethics Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics MCQ With Answers

Business Studies Class 11 Chapter 6 MCQs On Social Responsibilities of Business and Business Ethics

Social Responsibility Of Business Class 11 MCQ Chapter 6 Question 1.
Which of the following alone can ensure effective ethics programme in a business enterprise?
(a) Publication of a code
(b) Involvement of employees
(c) Establishment of compliance mechanisms
(d) None of them

Answer

Answer: (b) Involvement of employees

MCQ Questions For Class 11 Business Studies Chapter 6 Question 2.
Which of the following is capable of doing maximum good to society?
(a) Business success
(b) Laws and regulations
(c) Ethics
(d) Professional management

Answer

Answer: (c) Ethics

Social Responsibility Of Business And Business Ethics MCQ Question 3.
Carbon monoxide emitted by automobiles directly contributes to
(a) Water pollution
(b) Noise pollution
(c) Land pollution
(d) Air pollution

Answer

Answer: (d) Air pollution

Class 11 Business Studies Chapter 6 MCQ Question 4.
That an enterprise must behave as a good citizen is an example of its responsibility towards
(a) Owners
(b) Workers
(c) Consumers
(d) Community

Answer

Answer: (d) Community

Business Studies Class 11 Chapter 6 MCQ Question 5.
If business is to operate in a society which is full of diverse and complicated problems, it may have
(a) Little chance of success
(b) Great chance of success
(c) Little chance of failure
(d) No relation with success or failure

Answer

Answer: (a) Little chance of success

Chapter 6 Business Studies Class 11 MCQ Question 6.
“Ethics deals with the right actions of individuals.” Who said?
(a) Peter F. Drucker
(b) C. S. Rao
(c) J. R. Betty
(d) C. Zahe

Answer

Answer: (a) Peter F. Drucker

Social Responsibility Is MCQ Chapter 6 Question 7.
Which of the following statements about ethical standards are TRUE?
(a) The upper limits of ethical standards are set by individual standards
(b) The laws of economically developed countries generally define the lowest common denominator of acceptable behaviour
(c) The actual degree of enforcement of the law in an underdeveloped country would determine the lower limit of permissible behaviour
(d) All of the above

Answer

Answer: (d) All of the above

Ch 6 Bst Class 11 MCQ Question 8.
Which statement is true?
(a) Human values system plays a vital role in total quality management
(b) Values give the real meaning to total quality management effort
(c) Total quality management is a corporate management strategy
(d) All of the above

Answer

Answer: (d) All of the above

Social Responsibility Of Business MCQ Chapter 6 Question 9.
The national Society of Professional Engineers had a code, which requires professionals to
(a) Dissociate themselves from organizations that are of a questionable character
(b) Further the cause of public good
(c) Advise clarity, the consequences, if a technical opinion is overruled by a non-technical person
(d) All of the above

Answer

Answer: (d) All of the above

Question 10.
Which one of the following is not principle business ethics?
(a) Principle of universality
(b) Principle of humanity
(c) Principle of autonomy
(d) Principle of dissatisfaction

Answer

Answer: (d) Principle of dissatisfaction

Question 11.
Which of the following does not contribute to the development of a manager’s standard of ethics?
(a) competitor behaviours
(b) society’s norms and values
(c) individual life experiences
(d) environmental situations

Answer

Answer: (a) competitor behaviours

Question 12.
The hand-of-government refers to the
(a) ability of the government to interfere in business negotiations
(b) role of corporations to be profitable within the law
(c) effect of national politics on business decisions
(d) impact of changing government regulations

Answer

Answer: (d) the consequences of the act are substantial

Question 13.
According to the concept of moral intensity, a worker is most likely to behave ethically and legally when
(a) a manager observes his or her behavior closely
(b) the worker has intense morals
(c) the consequences of the act are minor
(d) the consequences of the act are substantial

Answer

Answer: (d) the consequences of the act are substantial

Question 14.
Corporate social responsibility that extends beyond legal mandates can help meet societal expectations in the absence of
(a) Statutory devices
(b) Social tool
(c) Cost tool and Techniques
(d) Science tool

Answer

Answer: (a) Statutory devices

Question 15.
If you believe in making decisions for the good of most people, you can be described as following which school of thought?
(a) utilitarianism
(b) teleology
(c) deontology
(d) egoism

Answer

Answer: (a) utilitarianism

Question 16.
Ethics is important for
(a) Top management
(b) Middle-level managers
(c) Non-managerial employees
(d) All of them

Answer

Answer: (d) All of them

Question 17.
Which of the following can explain the need for pollution control?
(a) Cost savings
(b) Reduced risk of liability
(c) Reduction of health hazards
(d) All of them

Answer

Answer: (d) All of them

Question 18.
Environmental protection can best be done by the efforts of
(a) Business people
(b) Government
(c) Scientists
(d) All the people

Answer

Answer: (d) All the people

Question 19.
Business people have the skills to solve
(a) All social problems
(b) Some social problems
(c) No social problems
(d) All economic problems

Answer

Answer: (c) No social problems

Question 20.
Social responsibility is
(a) Same as legal responsibility
(b) Broader than legal responsibility
(c) Narrower than legal responsibility
(d) None of them

Answer

Answer: (b) Broader than legal responsibility

Question 21.
Unethical behaviour is often triggered by
(a) pressure from higher management to achieve goals
(b) an organizational atmosphere that condones such behaviour
(c) both (a) & (b)
(d) a system of checks and balances

Answer

Answer: (c) both (a) & (b)

Question 22.
The business community’s aversion to binding international legal standards governing corporate operations contrasts with its strong advocacy of international law commitments applied to the obligation of governments towards
(a) Banks
(b) Business and Shareholder itself
(c) Suppliers
(d) Foreign investors

Answer

Answer: (d) Foreign investors

Question 23.
Milton Friedman stated his belief that ‘there is only one social responsibility’ for a company to use its resources to
(a) give as much to charitable causes as possible
(b) ensure employment
(c) provide good facilities for workers
(d) increase profits so long as it stays within the rules of the game

Answer

Answer: (d) increase profits so long as it stays within the rules of the game

Question 24.
Which is the approach to corporate planning?
(a) Customers and workers satisfaction
(b) Planning skills
(c) Optimising
(d) All of the above

Answer

Answer: (d) All of the above

Question 25.
Which is the aspects of TQM efforts?
(a) Problem solving tools
(b) Internal service quality
(c) Total involvement of all personnel
(d) None of the above

Answer

Answer: (d) None of the above

Question 26.
The ethical dilemma of choosing between two rights refers to
(a) choosing between the lesser of two evils
(b) deciding which of two employee rights is the most important
(c) deciding to offer a bribe or lose out on an important opportunity
(d) choosing between the two types of sexual harassment

Answer

Answer: (a) choosing between the lesser of two evils

Question 27.
Which statement is true?
(a) Skills are not enduring due to fatigue
(b) The final proof of sincerity and seriousness is uncompromising emphasis on integrity of character in a job
(c) The mental contents of the good person are called moral and ethical values
(d) All of the above

Answer

Answer: (d) All of the above

Question 28.
Which statement is/are true?
(a) Ethics is not synonymous to religious morality or moral theology
(b) Ethics is the principle that guide the human behaviour
(c) The terms ‘ethics’ and ‘morality’ are not synonymous terms
(d) All of the above

Answer

Answer: (d) All of the above

Question 29.
The elements of management system in quality environment of TQM is
(a) Method and procedure
(b) Process
(c) Focus
(d) All of the above

Answer

Answer: (d) All of the above

Question 30.
The environmental analysis includes
(a) Political conditions
(b) Social factors
(c) Economic conditions
(d) All of the above

Answer

Answer: (d) All of the above

One Mark Questions

1. State any one argument for social responsibility of business.

Answer

Answer: Favourable environment of business

2. State any one argument against social responsibility of business.

Answer

Answer: Lack of social skills

3. State any one of the social responsibility of business towards investors.

Answer

Answer: Chairman and directors of the company should be easily accessible to the investors.

4. Stateany one ofthe social responsibility of business towards consumers.

Answer

Answer: Right Information about product

5. State any of the causes for pollution.

Answer

Answer: Population growth

6. Mention any one of the type of pollution.

Answer

Answer: Air Pollution

7. State any one need for pollution control.

Answer

Answer: Reduced risks of liability

8. What is business ethics?

Answer

Answer: Business ethics is the set of values, principles and standards governing the moral conduct of the business.

9. State any of the elements of business ethics.

Answer

Answer: Involving employees at all levels

We hope the given NCERT MCQ Questions for Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics with Answers Pdf free download will help you. If you have any queries regarding Social Responsibilities of Business and Business Ethics CBSE Class 11 Business Studies MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 11 Business Studies MCQ:

MCQ Questions for Class 11 Business Studies Chapter 1 Nature and Purpose of Business with Answers

Nature and Purpose of Business Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 1 Nature and Purpose of Business with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided Nature and Purpose of Business Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 11 Business Studies Chapter 1 Nature and Purpose of Business MCQ With Answers

Business Studies Class 11 Chapter 1 MCQs On Nature and Purpose of Business

MCQ Questions For Class 11 Business Studies Chapter 1 Question 1.
Business risk is not likely to arise due to
(a) Changes in government policy
(b) Good management
(c) Employee dishonesty
(d) Power failure

Answer

Answer: (b) Good management

Class 11 Business Studies Chapter 1 MCQ Question 2.
The industries which provide support services to other industries are known as
(a) Primary industries
(b) Secondary industries
(c) Commercial industries
(d) Tertiary industries

Answer

Answer: (d) Tertiary industries

Business Trade And Commerce Class 11 MCQ Question 3.
The occupation in which people work for others and get remunerated in return is known as
(a) Business
(b) Profession
(c) Employment
(d) None of these

Answer

Answer: (c) Employment

Business Studies Class 11 Chapter 1 MCQ Question 4.
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

Answer: (d) Salary and wages

Nature And Purpose Of Business MCQ Question 5.
Economic activities may be classified into business, ___________ and employment
(a) Profession
(b) occupation
(c) vocation
(d) work

Answer

Answer: (a) Profession

Business Studies Class 11 MCQ Chapter 1 Question 6.
Human activities are of ____________ types
(a) One
(b) two
(c) three
(d) four

Answer

Answer: (b) two

Nature And Purpose Of Business Class 11 MCQs Question 7.
Following are the characteristics of business risks. One of then is not correct. Please identify it.
(a) Loss is the reward for risk bearing
(b) Business risks are due to uncertainties
(c) Risk is an essential component of every business
(d) Degree of risk depends mainly upon the nature and size of business

Answer

Answer: (a) Loss is the reward for risk bearing

Chapter 1 Business Studies Class 11 MCQ Question 8.
Commerce includes activities relating to trade and _________________ to trade.
(a) Supporting
(b) subsidiaries
(c) auxiliaries
(d) none of these

Answer

Answer: (c) auxiliaries

Ch 1 Business Studies Class 11 MCQ Question 9.
Which one of the following may not be a factor behind starting a business?
(a) Routine workload
(b) size of the firm
(c) finance
(d) location of the business

Answer

Answer: (a) Routine workload

Bst Class 11 Chapter 1 MCQ Question 10.
Which of the following cannot be classified as an objective of business?
(a) Investment
(b) Productivity
(c) Innovation
(d) Profit earning

Answer

Answer: (a) Investment

Class 11 Bst Chapter 1 MCQs Question 11.
Which of the following cannot be classified as an auxiliary to trade?
(a) Mining
(b) Insurance
(c) Warehousing
(d) Transport

Answer

Answer: (a) Mining

Nature And Purpose Of Business Class 11 MCQ Question 12.
Which of the broad categories of industries covers oil refinery and sugar mills?
(a) Primary
(b) Secondary
(c) Tertiary
(d) None of these

Answer

Answer: (b) Secondary

Ch 1 Bst Class 11 MCQ Question 13.
Which of the following is not an example of non-economic activity?
(a) Patriotism
(b) teaching
(c) sentiment
(d) sympathy

Answer

Answer: (b) teaching

MCQ Of Business Studies Class 11 Chapter 1 Question 14.
Transfer of interest exists in the case of
(a) Profession
(b) employment
(c) business
(d) none of these

Answer

Answer: (c) business

Class 11 Business Chapter 1 MCQ Question 15.
‘Earning of profit is considered to be the subsidiary objective of the business.’ The given statement is
(a) True
(b) false
(c) cannot say
(d) None

Answer

Answer: (b) false

Question 16.
Name the two broad categories of business activities.
(a) Trade and commerce
(b) trade and industry
(c) industry and commerce
(d) none of these

Answer

Answer: (c) industry and commerce

Question 17.
The possibilities of inadequate profits or even losses due to uncertainties are known as ____________
(a) Business contingencies
(b) Business risks
(c) Business ventures
(d) None of these

Answer

Answer: (b) Business risks

One Mark Questions

1. What is Economic activity?

Answer

Answer: Human activities which are performed in exchange for money or money’s worth are called economic activities

 

2. Name any one type of economic activity.

Answer

Answer: Business

3. What is business?

Answer

Answer: Business refers to an occupation in which people regularly engage in activities related to purchase, production and/or sale of goods and services with a view to earning profits.

4. Write any one characteristics of business activity.

Answer

Answer: Economic activity

5. Mention the two broad categories of business activity.

Answer

Answer: Industry and Commerce

6. Name any one type of Primary industry.

Answer

Answer: Extractive industry

7. Name any one type of Secondary industry.

Answer

Answer: Manufacturing

8. Give an example for Extractive Industries.

Answer

Answer: Mining

9. Give an example for Genetic Industries.

Answer

Answer: Poultry farming

10. Give an example for Manufacturing Industries.

Answer

Answer: Sugar Industry

11. Give an example for Construction Industries.

Answer

Answer: Construction of dams

12. What is trade?

Answer

Answer: Buying and selling of goods is termed as trade.

13. What do mean by Auxiliary to trade?

Answer

Answer: Activities which are meant for assisting trade are known as auxiliaries to trade.

14. Mention any one objective of business.

Answer

Answer: It is a source of income for business person.

15. Give an example for Service industry.

Answer

Answer: Transport

16. What do you mean by hindrance of trade?

Answer

Answer: All those obstacles that business man faces for conducting business activities or trade activities termed as hindrance of trade.

17. State any one type of hindrance of trade?

Answer

Answer: Hindrance of Place

18. State any one type of business risk.

Answer

Answer: Operational risk

19. What is meant by non economic activity?

Answer

Answer: Non-economic activities are those performed out of love, sympathy, sentiments, patriotism etc.

20. Give an example for non-economic activity?

Answer

Answer: A Worker working in factory

21. Give an example for profession.

Answer

Answer: Lawyer

22. Give an example for analytical industry.

Answer

Answer: Crude oil processed and separated into petrol, diesel, kerosene etc.

23. Give an example for synthetic industry.

Answer

Answer: Cement is produced by mixing concrete, gypsum, coal etc.

24. Give an example for processing industry.

Answer

Answer: Textile industry

25. Give an example for assembly line industry.

Answer

Answer: Manufacturing vehicles

We hope the given NCERT MCQ Questions for Class 11 Business Studies Chapter 1 Nature and Purpose of Business with Answers Pdf free download will help you. If you have any queries regarding Nature and Purpose of Business CBSE Class 11 Business Studies MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 11 Business Studies MCQ:

MCQ Questions for Class 11 Business Studies Chapter 7 Formation of a Company with Answers

Formation of a Company Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 7 Formation of a Company with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided Formation of a Company Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 11 Business Studies Chapter 7 Formation of a Company MCQ With Answers

Business Studies Class 11 Chapter 7 MCQs On Formation of a Company

Formation Of A Company Class 11 MCQ Question 1.
Preliminary Contracts are
(a) binding on the Company
(b) binding on the Company, if ratified after incorporation
(c) binding on the Company, after incorporation
(d) not binding on the Company

Answer

Answer: (d) Not binding on the Company

Formation Of Company Class 11 MCQ Question 2.
Stages in the formation of a public company are in the following order
(a) Promotion, Commencement of Business, Incorporation, Capital Subscription
(b) Incorporation, Capital Subscription. Commencement of Business, Promotion
(c) Promotion, Incorporation, Capital Subscription, Commencement of Business
(d) Capital Subscription, Promotion, Incorporation, Commencement of Business

Answer

Answer: (c) Promotion, Incorporation, Capital Subscription, Commencement of Business

MCQ Questions For Class 11 Business Studies Chapter 7 Question 3.
A proposed name of Company is considered undesirable if
(a) It is identical with the name of an existing company
(b) It resembles closely with the name of an existing company
(c) It is an emblem of Government of India, United Nations etc.
(d) In case of any of the above

Answer

Answer: (d) In case of any of the above

Question 4.
Minimum number of members to form a public company is
(a) 5
(b) 7
(c) 12
(d) 21

Answer

Answer: (b) 7

Question 5.
The company needs to obtain prior permision from central government when it changes the address of its registered office from
(a) one city to another city
(b) with in the same city
(c) one state to another
(d) one country to another country

Answer

Answer: (c) one state to another

Question 6.
A person cannot hold directorship in more than ____ public companies
(a) 3
(b) 10
(c) 20
(d) 7

Answer

Answer: (c) 20

Question 7.
Powers, rights, remuneration, qualification and duties of directors are discussed clearly in
(a) Memorandum of Association
(b) Articles of Association
(c) Prospectus
(d) none of the above

Answer

Answer: (b) Articles of Association

Question 8.
__________ means the total amount of called up capital on the shares issued and subscribed by the shareholders on capital account.
(a) Called-up capital
(b) subscribed capital
(c) nominal capital
(d) Paid-up capital

Answer

Answer: (a) Called-up capital

Question 9.
_____________ share capital has priority both in repayment of dividend as well as capital.
(a) Equity
(b) non preference
(c) Preference
(d) all of the above

Answer

Answer: (c) Preference

Question 10.
Par value of shares means the __________ value of the shares
(a) Actual
(b) face
(c) Market
(d) dividend

Answer

Answer: (b) face

Question 11.
The Prospectus must be issued to the public within ______________ days of its date
(a) 30
(b) 60
(c) 90
(d) 100

Answer

Answer: (c) 90

Question 12.
A copy of the ________________ must accompany each from of application for shares offered to the public.
(a) Memorandum of association
(b) Prospectus
(c) Articles of association
(d) None of the above

Answer

Answer: (b) Prospectus

Question 13.
___________ cannot give invitation to the public to subscribe for any shares in or debentures of the company
(a) Subsidiary company
(b) Statutory Company
(c) Private company
(d) Registered company

Answer

Answer: (c) Private company

Question 14.
A private company means a company which has a minimum paid up capital of Rs.————-
(a) 1,00,000
(b) 5,00,000
(c) 50,00,000
(d) none of the above

Answer

Answer: (a) 1,00,000

Question 15.
The shares of a _______________ company can be freely transferable
(a) Private ltd
(b) Public ltd
(c) Partnership
(d) all of the above

Answer

Answer: (b) Public ltd

Question 16.
“Men may come and men may go but the company exist”- this explains which characteristics of the company as per companies Act 1956
(a) Separate legal entity
(b) Perpetual Succession
(c) Capacity to sue
(d) None of the above

Answer

Answer: (b) Perpetual Succession

Question 17.
Which of the following clause of Memorandum of Association cannot be altered
(a) Name
(b) Object
(c) situation
(d) liability

Answer

Answer: (d) liability

Question 18.
Which of the following is not a clause of memorandum of association
(a) situation
(b) capital
(c) subscription
(d) directors

Answer

Answer: (d) directors

Question 19.
The company will be considered as separate person and different from its members from the date (when the) _____________
(a) start of business
(b) Apply for registration
(c) receive incorporation certificate
(d) mentioned in certificate

Answer

Answer: (d) mentioned in certificate

Question 20.
The certificate of capital will be issued by
(a) Registrar of companies Act
(b) Controller of companies Act.
(c) Registrar of capital issues
(d) controller of capital issues

Answer

Answer: (d) controller of capital issues

Question 21.
A statement of nominal capital must be given at the time of incorporation by the company when the share capital is less than
(a) 50 Lakh
(b) 1 crore
(c) 10 Lakh
(d) 25 Lakh

Answer

Answer: (d) 25 Lakh

Question 22.
The address of the registered office of the company must be notified to the registrar within _________ days of registration, if it is not done at the time of incorporation
(a) 15
(b) 30
(c) 60
(d) 45

Answer

Answer: (b) 30

Question 23.
The application for registration of a company should be presented to the _______________ of the state appointed under Companies Act 1956
(a) Controller
(b) registrar
(c) Governor
(d) registration officer

Answer

Answer: (b) registrar

Question 24.
Minimum number of members required to apply for incorporation certificate in a public ltd company is
(a) 3
(b) 2
(c) 7
(d) 50

Answer

Answer: (c) 7

Question 25.
Preliminary Contracts are signed
(a) Before the incorporation
(b) After incorporation but before capital subscription
(c) After incorporation but before commencement of business
(d) After commencement of business

Answer

Answer: (a) Before the incorporation

Question 26.
A prospectus is issued by
(a) A private company
(b) A public company seeking investment from public
(c) A public enterprise
(d) A public company

Answer

Answer: (b) A public company seeking investment from public

Question 27.
Application for approval of name of a company is to be made to
(a) SEBI
(b) Registrar of Companies
(c) Government of India
(d) Government of the State in which Company is to be registered

Answer

Answer: (b) Registrar of Companies

Question 28.
Minimum number of members to form a private company is
(a) 2
(b) 3
(c) 5
(d) 7

Answer

Answer: (a) 2

Question 29.
Private company prohibits any invitation or acceptance of deposits from persons other than its ___________
(a) Members
(b) directors
(c) Partners
(d) banks

Answer

Answer: (a) Members

Question 30.
A company is known as the _______company of another company if it has control over that other company.
(a) subsidiary
(b) holding
(c) controlling
(d) statutory

Answer

Answer: (b) holding

Question 31.
For example Par value is Rs10 and it is issued at Rs15 then Rs5 is the ___________ amount
(a) Profit
(b) Market value
(c) dividend
(d) premium

Answer

Answer: (d) premium

Question 32.
__________ means the total amount of called up share capital which is actually paid to the company by the members
(a) nominal capital
(b) reserve capital
(c) called up capital
(d) Paid-up capital

Answer

Answer: (d) Paid-up capital

Question 33.
The dividend payable to ___________ share holders is payable on fixed figure or percent
(a) Equity
(b) non preference
(c) Preference
(d) all of the above

Answer

Answer: (c) Preference

Question 34.
_______________ capital means the sum mentioned in the capital clause of Memorandum of Association
(a) Full capital
(b) Maximum capital
(c) share capital
(d) Nominal Capital

Answer

Answer: (d) Nominal Capital

Question 35.
If the company can make arrangements for raising the capital privately so that pubic appeal is unnecessary, the company is required to prepare a _________________
(a) Prospectus
(b) statement in lieu of Prospectus
(c) certificate of Prospectus
(d) none of the above

Answer

Answer: (b) statement in lieu of Prospectus

Question 36.
A Government Company means any company in which not less than 51% of the paid-up share capital is held by
(a) Central Government
(b) State government
(c) Both a & b
(d) Neither a nor b

Answer

Answer: (c) Both a & b

Question 37.
A private company means a company which has a minimum paid up capital of Rs.————-
(a) 1,00,000
(b) 5,00,000
(c) 50,00,000
(d) none of the above

Answer

Answer: (b) 5,00,000

Question 38.
_________ are the company created by special act of the legislature
(a) Registered company
(b) Public Ltd Company
(c) Private ltd company
(d) Statutory company

Answer

Answer: (d) Statutory company

Question 39.
The liability of the members of the company can be limited by
(a) Share
(b) Guarantee
(c) Both a & b
(d) Neither a nor b

Answer

Answer: (c) Both a & b

Question 40.
When the registered office of a company is changed within a city then it has to be intimated to the registrar within ________ days of such change
(a) 60
(b) 45
(c) 30
(d) 7

Answer

Answer: (c) 30

Question 41.
If a company is instructed to change its name which resembles the name of an existing company then the company can change the name by
(a) Passing a special resolution
(b) obtaining permission from central government
(c) Passing an ordinary resolution
(d) Both a & b

Answer

Answer: (c) Passing an ordinary resolution

Question 42.
Number of clauses in Memorandum of Association is
(a) 5
(b) 6
(c) 7
(d) 8

Answer

Answer: (b) 6

Question 43.
The articles of association needs to be signed by
(a) all proposed directors
(b) registrar
(c) subscribers of memorandum
(d) none of the above

Answer

Answer: (c) subscribers of memorandum

Question 44.
If the proposed nominal capital is more than 25 lakh at the time of incorporation then the company needs to submit ________________ along with the application
(a) statement of capital
(b) certificate of incorporation
(c) certificate of capital
(d) certificate of incorporation

Answer

Answer: (c) certificate of capital

Question 45.
Among the following which documents are not mandatory to be submitted to the registrar along with incorporation application by a private company.
(a) Address of Registered office & undertaking
(b) Undertaking and statement of capital
(c) statement of capital & list of directors
(d) list of directors and statement of capital

Answer

Answer: (a) Address of Registered office & undertaking

Question 46.
Number of documents to be submitted, by a public ltd company, to the registrar while applying for incorporation of the company is
(a) 3
(b) 2
(c) 7
(d) 50

Answer

Answer: (c) 7

Question 47.
The application for registration of a company should be presented to the registrar of the state in which the _______________ of the company is to be situated
(a) Manufacturing plant
(b) first branch
(c) business office
(d) any of the above.

Answer

Answer: (c) business office

Question 48.
Section 12 of Companies Act 1956, deals with
(a) Incorporation
(b) Share capital
(c) Number of Directors
(d) Share holders

Answer

Answer: (a) Incorporation

True/False Questions

1. It is necessary to get every company incorporated, whether private or public.

Answer

Answer: True

2. Statement in lieu of prospectus can be filed by a public company going for a public issue.

Answer

Answer: True

3. A private company can commence business after incorporation.

Answer

Answer: True

4. Experts who help promoters in the promotion of a company are also called promoters.

Answer

Answer: False

5. A company can ratify preliminary contracts after incorporation.

Answer

Answer: False

6. If a company is registered on the basis of fictitious names, its incorporation is invalid.

Answer

Answer: False

7. ‘Articles of Association’ is the main document of a company.

Answer

Answer: False

8. Every company must file Articles of Association.

Answer

Answer: Flase

9. A provisional contract is signed by promoters before the incorporation of the company.

Answer

Answer: False

10. If a company suffers heavy issues and its assets are not enough to pay off its liabilities, the balance can be recovered from the private assets of its members.

Answer

Answer: False

One Mark Questions

1. Mention minimum and maximum number if members in private company. Minimum of two members and maximum is

Answer

Answer: fifty

2. Mention minimum and maximum number of members in public company.

Answer

Answer: Minimum of seven members and maximum is unlimited.

3. Which type of company issue prospectus?

Answer

Answer: Public Company issue prospectus.

4. Is it necessary to get company incorporated?

Answer

Answer: Yes.

5. At what stage private company a can commence its business.

Answer

Answer: A private company can commence its business after getting incorporation certificate.

6. ‘ Which is the main document of Joint Stock Company?

Answer

Answer: Memorandum of Association and Article of Association are the main documents of Joint Stock Company.

7. Name two stages in formation of company.

Answer

Answer: (a) Promotion
(b) Incorporation

8. Mention two certificates required for Joint Stock Company.

Answer

Answer: (a) Incorporation certificate
(b) Commencement of Business Certificate.

9. What is Article of association?

Answer

Answer: Article of association are the rules regarding internal management of a company.

10. Mention any one type of Joint Stock Company.

Answer

Answer: Public company is one of the type of Joint Stock Company

11. Name the company in which shares are freely transferable.

Answer

Answer: Public company shares are freely transferable.

12. State the minimum capital required in public companies.

Answer

Answer: Public companies should have a minimum Paid up capital of Rs.5,00,000.

13 State the minimum capital required in private companies.

Answer

Answer: Private companies should have a minimum Paid up capital of Rs. 1,00,000.

14. Mention any one function of promoters.

Answer

Answer: Identification of Business Opportunity

15. What are qualification shares?

Answer

Answer: It refers to the requirement that a member of the board must hold a vested interest in the operation of the enterprise in the form of company stock.

16. At what stage public company can start its business?

Answer

Answer: After getting commencement of business certificate a public company can start its business

17. Name the act which governs Joint Stock Companies in India.

Answer

Answer: Company act of 1956.

18. How many members have to sign the Memorandum of Association in public limited companies?

Answer

Answer: At least 7 members have to sign the Memorandum of Association in public limited companies

19. How many members have to sign the Memorandum of Association in private limited companies?

Answer

Answer: At least 2 members have to sign the Memorandum of Association in public limited companies

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Class 11 Business Studies MCQ: