1) Sale of Goods Act was passed in the year a) 1940 b) 1997 c) 1930 d) 1960 2) Which of the below constitutes the essential element of contract of sale? a) Two parties b) Transfer of property c) Price d) All of the above 3) Which of the below is not a good? a) Stocks b) Dividend due c) Crops d) Water 4) In case of the sale, the ____ has the right to sell a) Buyer b) Seller c) Hirer d) Consignee 5) The property in the goods means the a) Possession of goods b) Custody of goods c) Ownership of goods d) Both Possession and Custody of goods 6) Negotiable Instrument Act was passed in the year ______. a) 1981 b) 1881 c) 1994 d) 1818 7) Number of parties in a bill of exchange are a) 2 b) 6 c) 3 d) 4 8) Section 6 of Negotiable Instruments Act 1881 deals with a) Promissory Note b) Bills of exchange c) Cheque d) None of the above 9) _______ cannot be a bearer instrument. a) Cheque b) Promissory Note c) Bills of exchange d) None of the above 10) A cheque will become stale after _____ months of its date: a) 3 b) 4 c) 5 d) 1 11) Which of the below is a factor of production? a) Land b) Labour c) Entrepreneurship d) All of the above 12) Entrepreneur is not classified as a) Risk Bearer b) Innovator c) Employee d) Organizer 13) What are the characteristics of an entrepreneur? a) Spirit of enterprise b) Flexibility c) Self Confidence d) All of the above 14) Which of the below is not classified into managerial functions? a) Planning b) Marketing c) Organizing d) Controlling 15) Which of the below is a commercial function? a) Accounting b) Coordination c) Discovery of idea d) Planning 16) Which of the following is the Activity of a Business Entrepreneur? a) Production b) Marketing c) Operation d) All of the above 17) Find the odd one out in context of Trading Entrepreneur. a) Selling b) Commission c) Buying d) Manufacturing 18) Corporate Entrepreneur is also called as _____ a) Intrapreneur b) Promoter c) Manager d) Shareholder 19) Which of these is based on Technology? a) Modern b) Professional c) Corporate d) Industrial 20) Which of the below is not a Characteristic of a Fabian Entrepreneur? a) Conservative b) Risk averse c) Sceptical d) Adaptive 21) The ___________ initiative was launched to modernize the Indian economy to make all governments services available electronically. a) Standup India b) Startup India c) Digital India d) Make in India 22) ________ is designed to transform India to a global design and manufacturing hub. a) Digital India b) Make in India c) Startup India d) Design India. 23) ___________ is the Government of India’s endeavour to promote culture of innovation and entrepreneurship. a) AIM b) STEP c) SEED d) AIC 24) ___________ should cover aspects like sources of finance, technical know-how, source of labour and raw material, market potential and profitability. a) Technical Report b) Finance Report c) Project Report d) Progress Report 25) ____________has to include the mechanism for managing venture in the project report. a) Banker b) Government c) Lending Institutions d) Entrepreneur 26) The Company will have to issue the notice of situation of Registered Office to the Registrar of Companies within _____ days from the date of incorporation. a) 14 days b) 21 days c) 30 Days d) 60 Days 27) How does a person who envisages the idea to form a company called? a) Director b) Company Secretary c) Registrar d) Promoter 28) Which of the following types of shares are issued by a company to raise capital from the existing shareholders? a) Equity Shares b) Rights Shares c) Preference Shares d) Bonus Shares 29) The shares which are offered to the existing shareholder at free of cost is known as a) Equity Shares b) Rights Shares c) Preference Shares d) Bonus Shares 30) The shares which are offered first to the existing shareholder at reduced price is known as _____________. a) Equity Shares b) Rights Shares c) Preference Shares d) Bonus Shares 31) A person Shall hold office as a director in ________ companies as per the Companies Act, 2013. a) 5 companies b) 10 companies c) 20 companies d) 15 companies 32) A Private Company shall have a minimum of ________. a) Seven directors b) Five directors c) Three directors d) Two directors 33) A Public Company having a paid up Share Capital of Rs. ___________ or more may have a Director, elected by such small shareholders. a) One crore b) Three crores c) Five crores d) Seven crores 34) What is the statue of Directors who regulate money of the company. a) Banker b) Holder c) Agent d) Trustees 35) According to Companies Act, the Directors must be appointed by the. a) Central Government b) Company Law Tribunal c) Company in General Meeting d) Board of Directors. 36) Mention the status of a Company Secretary in a company. a) A member b) A director c) An independent contractor d) An employee 37) Who can become a secretary for a company? a) Individual person b) Partnership firm c) Co-operative societies d) Trade unions 38) Which meeting will be held only once in the life time of the company? a) Statutory b) Annual General c) Extra - ordinary d) Class General 39) Who is not entitled to speak at the annual general meeting of the company. a) Auditor b) Shareholder c) Proxy d) Directors 40) From the date of its incorporation the First Annual General Meeting is to be conducted within __________ months. a) Twelve b) Fifteen c) Eighteen d) Twenty one

+2 Commerce L 21 - L 28 (EM)

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