CBSE Class 12 Business Studies Sample Paper 2023-2024(PDF)

Find the list of MCQs for CBSE Class 11 Business Studies Chapter 1 Business, Trade, and Commerce. A PDF download link for the same has also been attached below. Use the link to save the MCQs for future use.

1)Which of the following is/are treated as Auxiliaries to Trade?

(a) Banking Industry

(b) Insurance Industry

(c) Transportation Industry

(d) All of the above

Answer. d) All of the above

2)The reward of risk is:

(a) Success

(b) Failure

(c) Profit

(d) Loss

Answer. c) Profit

3)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. c) Industry and Commerce

4)Assertion (A) Business represents the exchange of Goods and Services.

Reason (R) Risk and Uncertainties are always there in any form of business

(a) Both A and R are true. R is the correct explanation of A

(b) Both A and R are true, but R is not the correct explanation of A

(c) A is correct, but R is incorrect

(d) A is incorrect, but R is correct

Answer. b) Both A and R are true, but R is not the correct explanation of A

5)Which of the following does not characterize business activity :

(a) Production of goods and services

(b) Presence of risk

(c) Sale or Exchange of goods and services

(d) Salary or wages

Answer. d) Salary of wages

6)“Amrut” is an NGO operating in the district of Rajkot since 2005. It deals in providing medicines and other medical facilities to the rural, backward, and below-poverty-line people in the district. In case of need, arrangements are made by the NGO to shift critical patients to referred hospitals. Name the type of human activities performed by the NGO “Amrut”.

(a) Economic Activities

(b) Non-Economic Activities

(c) Spiritual Activities

(d) None of the above

Answer. b) Non-Economic Activities

7)Maninder, Surinder and Balbinder and Harinder pursued their Master’s Degrees in Business Management from a reputed institute in Delhi. After completion of their studies, all of them got engaged in different fields. Maninder got a job at an Oil Refinery Industry as a Junior Executive in Finance. Surinder joined his family business in Textile Industry in Jalandhar, Punjab. Balbinder opened his own Dairy Firm and Harinder join the construction business. Identify the type of industry Mr. Surinder worked with as highlighted in the above case.

(a) Analytical Industry

(b) Synthetic Industry

(c) Processing Industry

(d) Assembly Industry

Answer. c) Processing Industry

8)Which of the following cannot be classified as an auxiliary to trade?

(a) Mining

(b) Insurance

(c) Warehousing

(d) Transport

Answer. a) Mining

9)Ruchi is a practicing Chartered Accountant. She has her C.A. Firm in Hyderabad, Telangana. She deals in providing Income Tax and GST-related services to her clients against very reasonable consultancy fees. She has her own professional coaching classes for C.A. Enrolled Students. Identify the types of economic activities performed by Ruchi as referred to in the above case.

(a) Business

(b) Profession

(c) Employment

(d) None of the above

Answer. b) Profession

10)Which of the broad categories of industries covers oil refineries and sugar mills?

(a) Primary

(b) Secondary

(c) Tertiary

(d) None of these

Answer. b) Secondary

11)Assertion (A) Earning Livelihood is the main aim of Economic activities.

Reason (R) It helps people in earning their bread and butter by performing several activities.

(a) Both A and R are true. R is the correct explanation of A

(b) Both A and R are true, but R is not the correct explanation of A

(c) A is correct, but R is incorrect

(d) A is incorrect, but R is correct

Answer. a) Both A and R are true. R is the correct explanation of A

12)Nutan General Store is a big businessman who deals in selling Nestle products in his locality. He purchased products of Nestle directly from the State Distributor in bulk quantities and sold them in the market. Small shopkeepers from different corners of the city. Identify the type of trade followed by Nutan General Store.

(a) Wholesale Trade

(b) Retail Trade

(c) International Trade

(d) Entrepot Trade

Answer. a) Wholesale Trade

13)Business risk is not likely to arise due to:

(a) Change in govt, policy

(b) Good management

(c) Employee dishonesty

(d) Power failure

Answer. b) Good Management

14)Sankalp is a successful entrepreneur dealing in the Automobile sector, especially with Two Wheelers in Ahmedabad. He has been constantly earning good profits from his business and investing surplus towards the expansion of his business. All the latest Two-Wheeler models are available at his showroom. His marketing and sales teams are managed to create new customers from time to time. His unique style of business management has brought him success. Name the type of Business activity in which Sankalp is involved.

(a) Tertiary industries

(b) Secondary industries

(c) Trade

(d) Auxiliaries to trade

Answer. c) Trade

15)Dell Inc is a company involved in the manufacturing of computers and related items. It’s a very popular name among the computer-savvy youth in India. There are different models of Desktop, Laptop, Tabs, Gaming and Workstations manufactured and sold by the company in the Indian market. Which type of Industry is highlighted in the above case?

(a) Genetic Industry

(b) Extractive Industry

(c) Processing Industry

(d) Assembly Industry

Answer. d) Assembly Industry

To download MCQs for CBSE Class 11 Business Studies Chapter 1, click on the link below

We hope this article proves to be helpful and useful to you. This will provide you with an idea of solving the MCQs and understanding the pattern. 

Also find:

CBSE Class 12 Syllabus 2023-24 (All Subjects)

CBSE Class 12 Sample Papers 2023-24 (All Subjects)

NCERT Books for Class 12 (All Subjects)

NCERT Solutions for Class 12 (All Subjects)