CBSE Class 11 Business Studies Internal Trade MCQs Set 02

Question: Service provided by retailer to consumer are
a) After sale service
b) Help in promotion
c) Enabling large scale operation
Answer: a 

Question: Identify the type of middlemen who serve as a link between manufacturer and retailer
a) Fixed shop retailer
b) Wholesaler
c) Consumer
d) Itinerant retailers
Answer: b

Question: Shops selling children garments, men’s wears, ladies shoes and school uniform are known as
a) Second hand shops
b) Street stall holders
c) Speciality shops
Answer: c

Question: Number of shops with similar appearance are established in localities spread in different parts of the country are
a) Departmental Store
b) Second hand shops
c) Multiple shops
Answer: c

Question: Different services provided to manufacturer by retailer
a) Convenience in buying
b) New product information
c) Help in promotion
Answer: c

Question: The risk of bad debts in their business is eliminated particularly when payment is received through vpp
a) Teleshopping
b) Mail order trade house
c) Departmental Store
d) Cooperative store
Answer: b

Question: Stores which is not coming under the category of fixed shops.
a) General stores
b) Street stall holders
c) Secondhand goods shops
d) Mail Order House
Answer: d

Question: One among the following is not large scale fixed retail shop
a) Supermarket
b) General shop
c) Departmental Store
d) Multiple shop
Answer: b 

Question: Goods that are perishable in nature or bulky cannot be easily handle not recommended for
a) Multiple shops
b) Mail order houses
c) Departmental Store
d) Second hand shop
Answer: b

Question: Wholesaler advisor manufacturer about the aspect related to
a) Customers taste and preferences
b) Competitive activities
c) Market conditions
d) All of the options
Answer: d

Question: COD refer to type of transaction in which payment is made of goods
a) On delivery
b) After delivery
c) Before delivery
Answer: a

Question: Small scale fixed shop traders are
a) Mail order houses
b) Departmental stores
c) Street stall holders
Answer: c

Question: It helps disabled and elderly people
a) Teleshopping
b) E-commerce
c) Multiple shop
d) Installment system.
Answer: a

Question: Aim is to economics by buying in common and to retain their profit by selling in common
a) Teleshopping
b) Web marketing
c) Multiple shop
d) Consumer cooperative store.
Answer: d

Question: A warehouse keeper accept good for the purpose of
a) Storage
b) Export
c) Packaging
d) Selling
Answer: a

Question: Large scale retail organisation does not include
a) Departmental stores
b) Speciality shops
c) Multiple shops
d) Cooperative stores
Answer: b

Question: Which one is not the part of GST?
a) IGST
b) SGST
c) CGST
d) RTGS
Answer: d

Question: They do business in rental shops or sheds shifting from one locality to another are
a) Cheap jacks
b) Hawkers peddlers
c) Street vendors
Answer: a

Question: Which of the following is not a service offered by wholesaler to manufacturer
a) Storage
b) Bearing risk
c) Grant of credit
d) Financial assistance
Answer: c

Question: Which of the following is not a type of itinerant retailers
a) Market traders
b) Street stall holders
c) Cheap jacks
d) Peddlers and hawkers
Answer: b

Question: The orders are received, goods are mailed directly to the buyers in which form
a) Departmental store
b) Chain store
c) Shopping mall
d) Mail order house
Answer: d

Fill in the blanks:

Question: Street stall holders get their suppliers from local suppliers as well as _________ .
Answer: wholesalers

Question: GST has replaced _________ number of indirect taxes.
Answer: 17

Question: Write the full form of FICCl _________
Answer: Federation of Indian Chamber of Commerce and industry

Question: A departmental store is a combination of both types of _________ as well as Warehousing.
Answer: retailing

Question: In departmental stores Sale are _________ according to different departments.
Answer: decentralized

Question: The stores which offers a wide variety under one roof are known as _________ .
Answer: departmental store

Question: Term which is used in trade document to say that mistakes and things that have been forgotten should be taken into account are _________
Answer: error and omission

Question: Small retailers who are commonly found at places where huge floating population gathers like bus stand etc. are called ________ traders.
Answer: Street/pavement vendors

Question: They display their goods in busy Street corners _________
Answer: street vendors

True / False:

Question: The Inspector supervise the products of chain stores.
Answer: True

Question: Shopping through mail order house is suitable for all types of customers.
Answer: False

Question: The CGST/SGST is payable on all intra- state supply of goods and services.
Answer: False

Question: Speciality shops is type of retail store which is becoming very popular, particularly in rural areas.
Answer: False

Question: The multiple shops organisation is able to eliminate unnecessary middlemen.
Answer: True

Question: The losses incurred by one shop in chain stores may not be covered by profits in other shops.
Answer: False

Match the following:

Question: Match from the following options only, the supply of goods to their GST applicability:
Supply of goods GST applicability
1. From Delhi to Delhi                              a) CGST/SGST
2. From Delhi to Kolkata                          b) IGST
3. From Delhi to Dubai
4. From wholesaler of Delhi to Retailer of Delhi
Answer: 1-a, 2-b, 3-b, 4-a.

Question: On the basis of features of GST with their specification:
1. No. of tax slabs under GST                                    a) 17
2. No. of indirect tax replaced by GST                       b) 4
3. No. of cesses eliminated by GST                          c) 3
4. No. of types of GST                                               d) 23
Answer: 1-b, 2-a, 3-d, 4-c.

Question: On the basis of features with their large scale retailers:
1. Size of stores is large                                               a) Mail order houses
2. work under supervision of Branch Manger               b) departmental stores
                                                                                      c) chain stores
                                                                                      d) speciality shops
Answer: 1-b, 2-c

Question: Match from the following options only taxes which are levied on the following:
1. Destination based tax                                                                           a) IGST
2. Tax applicable on Interstate supply of goods and services                   b) CGST/SGST
3. Tax applicable on intrastate supply of goods and services                   c) GST
4. Indirect tax
Answer: 1-c, 2-a, 3-b, 4-c.

Question: On the basis of nature of types of itinerant retailers :
1. Selling the goods on fixed days                                                                 a) Peddlers and hawkers
2. Selling their goods where huge floating population gathers like                b) Cheap jacks
    railway station, bus stand etc. 
3. Independent shops of temporary nature in a business locality                  c) Market traders
4. Carry the products on bicycle or handcart for sale                                     d) Street vendors
Answer: 1-c, 2-d, 3-b, 4-a

Question: On the basis of credo with on which they apply:
1. Everything from a pin to elephant               a) GST
2. One Nation one Tax                                    b) Chain stores
                                                                       c) Departmental stores
                                                                       d) VAT
Answer: 1-c, 2-a