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Exam Name : Online exam on Business Studies

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General Insteuctions
1. Total duration of the examination is 45 minutes.
2. The clock will be set at the server. The countdown timer in the top right corner of the screen will
display the remaining time available for you to complete the examination. When the timer
reaches zero, the examination will end by itself. You will not require ending or submitting your
examination.
3. The Question Palette displayed on the right side of screen will show the status of each question
using one of the following symbols.

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4. The marked for the review status for a question simply indicates that you would like to look at
that question again. If a question is answered and marked for review, your answer for that
question will be considered in he evaluation.
5. You can click on the “>”arrow which appears to the left of the question palette to collapse the
question palette thereby maximizing the question window. To view the question palette again,
you can click on “<” which appears on the right side of question window.

Navigating to a question:
6. To answer a question, do the following
a. Click on the question number in the Question Palette at the right of your screen to go to
that numbered question directly. Note that using this option does NOT save your answer to
the current question.
b. Click on Save and Next to save your answer for the current question and the go to the next
question.
c. Click on Mark for Review and Next to save your answer for the current question, mark it for
review , and then go to the next question.
Answering a question
7. Procedure for answering a multiple choice type question:
a. To select your answer, click on the button of one of the options.
b. To deselect your chosen answer, click on the button of the chosen option again or click on
the Clear Response button.
c. To change your chosen answer, click on the button of another option.
d. To save your answer, you MUST click on the Save & Next button,
e. To mark the question for review, click Mark for Review & Next button if an answer is
selected fir a question that is marked for review, that answer will be considered in the
evaluation.
8. To change your answer to a question that has already been answered, first select that question
for answering and then follow the procedure for answering that type of question.
9. Not that ONLY questions for which answers are saved or marked for review after answering will
be considered for evaluation.
10. Each question carries 1 mark for correct answer.
11. Penalty for wrong answer.

THERE WILL BE PENALTY FOR WRONG ANSWERS MARKED BY THE CANDIDATE IN THE
OBJECTIVE QUESTION IN THE QUESTION PAPER, 25 OF THE MARKS ASSIGNED TO THAT
QUESTION WILL BE DEDUCTED AS PENALTY.

12. If the question is left blank, i.e., no answer is select by the candidate, there will be no
penalty for that question.

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 Choose the appropriate answer
1. The structure in which there is separation of ownership and management is called

a. Sole Proprietor ship b. Partnership

c. Company d. All business organizations

2. The Karta in Joint Hind Family business has

a. Limited liability b. unlimited liability

c. No liability for debts d. Joint liability

3. In a co-operative society the principle followed is

a. One share one vote b. One man one vote

c. No vote d. Multiple votes

4. The Board of Directors of a joint stock company is elected by

a. General Public b. Government bodies

c. Shareholders d. employees

5. The maximum number of partners allowed in the banking business are

a. Twenty b. Ten
c. no limits d. Two

6. Profits do not have to be shared. This statement refers to

a. Partnership b. Joint Hindu Family business

c. Sole proprietorship d. Company

7. The capital of a company is divided into number of parts one of which are called

a. Dividend b. Profit
c. Interest d. Share

8. The head of the Joint Hindu Family business is called

a. Proprietor b. Director
c. Karta d. Manager

9. Provision of residential accommodation to the members at reasonable rates is the objective of

a. Producer’s cooperative b. Consumer’s cooperative

c. Housing cooperative d. credit cooperative
10. A partner whose association with the firm is unknown to the general public is called

a. Active partner b. Sleeping Partner

c. Nominal partner d. Secret partner

11. The minimum number of members needed to start a partnership firm

a. Two b. Three
c. Twenty d. Ten

12. The written agreement between the partners in a partnership firm called

a. Article of Association b. Memorandum

c. Partnership Deed d. None of the above

13. The co-operative societies which established to help small producers in selling their products

a. Marketing co-operative societies b. Partner’s co-operative societies

c. Consumer’s co-operative societies d. Producer’s co-operative societies

14. The Management and control of the company is undertaken by

a. Board of Directors b. Manager

c. Supervisors d. Owner

15. Minimum number of members required to form a public company is

a. Two b. Fifty
c. Seven d. Ten

16. The members in the Joint Hindu Family business is called

a. Karta b. Co-parcenncers
c. Partners d. None of the above

17. The liability of a members of co-operative society is

a. Limited b. Unlimited
c. Equal d, None of the above

18. The society which helps to improve the yield and return to the farmers is called

a. Co-operative Housing Societies b. Marketing Co-operative societies

c.Farmer’s Co-operative societies d. Producer’s Co-operative societies
19. The specific procedure for the closure of a Joint stock company called

a. Dissolution b. Merging
c. Establishing d. Winding up

20. The Board of Directors are appointed by

a. Top Management b. Middle Management

c. Lower Management d. None of the above

21. The risk of losses in the business can be borne by all the members in

a. Partnership firm b. Sole proprietorship

c. Joint Stock Company d. Co-operative society

22. A private company can start business only after receiving certificate is called

a. Certificate of registration b. Certificate of incorporation

c. Partnership Deed d. Article of Association

23. The information related to business operations are confidential and maintained secrecy in this type
of business organization

a. Partnership b. Joint stock company

c. Sole proprietorship d. Co-operative societies

24. A Partnership firm is registered under the partnership Act

a. 1956 b. 1932
c. 1912 d. 1923

25. The motive of co-operative societies is

a. Mutual help and welfare b. profit

c. Goodwill d. None of the above
Answer Key
1.c 2. b 3.b 4.c 5.b 6.c 7.d 8.c 9.c 10.d 11.a 12.c 13.a 14.a 15.c 16.b 17.a 18.c 19.d 20.a 21.c 22.b 23.c
24.b 25.a