CBSE Class 10 Elements Of Business MCQs

Question: Which of the following is an internal source of finance:

a) Relatives and friends

b) Banks

c) Sahukar

d) Retained profit

Answer: Retained profit

Question: Public deposit is a source of finance for:

a) Partnership Firm

b) Joint stock company

c) Co-operative Society

d) Sole trader

Answer: Joint stock company

Question: Which of the following is a source of long term finance:

a) Trade Credit

b) Factoring

c) Bank Credit

d) Leasing Finance

Answer: Leasing Finance

Question: Which of the following is correct about overdraft:

a) Money credited by banks in a separate bank account.

b) Facility of loan given in the existing Current Account.

c) Loan limit based on the value of security placed with the bank.

d) Interest is charged on the free amount of loan credited.

Answer: Facility of loan given in the existing Current Account.

Question: A market in which shares are bought and sold is a

a) Stock Exchange

b) Commodity market

c) Whole sale market

d) Retail market

Answer: Stock Exchange

Question: A Joint stock company collects long term finance through

a) Instalments credit

b) Issue of Equity shares

c) Cash Credit

d) Advances by customers

Answer: Issue of Equity shares

Question: A Hundi which is payable after a specified time is known as

a) Darshani Hundi

b) Muddati Hundi

c) Sahajog Hundi

d) Dhanijog Hundi

Answer: Muddati Hundi

Question: A banking facility enabling customer to withdraw cash 24 hours a day is called:

a) Credit Card

b) Net Banking

c) ATM

d) Phone Banking

Answer: ATM

Question: A Cheque which is payable to a person, who presents it for payment at the bank counter is called:

a) Order Cheque

b) Bearer Cheque

c) Crossed Cheque

d) Mutilated Cheque

Answer: Bearer Cheque

Question: A negotiable instrument on which acceptance is a must is called:

a) Promissory note

b) Bill of Exchange

c) Hundi

d) Cheque

Answer: Bill of Exchange