ISC COMMERCE MCQs SEMESTER 1 WITH SOLVED ANSWERS

ISC COMMERCE MCQs SEMESTER 1 WITH SOLVED ANSWERS

(Question 1 to 5)

Choose the correct option to answer the following questions Each question carries 1 mark.
1. Process of getting things done with the aim of achieving goals effectively and efficiently is known as:
(a) Management
(b) Planning
(c) Directions
(d) Controlling

2. Which one of the following is not a feature of the business environment?
(a) Uncertainty
(b) Interdependence
(c) Complexity
(d) Stability

3. Which of the following is not an organizational objective:
(a) Survival
(b) Profit
(c) Growth
(d) Financial Needs
4. Management is needed at:
(a) Top Level
(b) Middle Level
(c) Lower Level
(d) All of these

5. A trader wants to make an electronic transfer of funds through NEFT. He does not have a bank account. What is the maximum amount he can transfer?
(a) 65,000
(b) 50,000
(c) 49,000
(d) 45,000

Note: Answers are given below at the end.

ISC COMMERCE 12 Concept and Nature of Management MCQs with solved answers

ISC COMMERCE MCQs SEMESTER 1 WITH SOLVED ANSWERS

(Question 6 to 10)

6. The Full Form of CVV is?

(a) Credit Verification Value
(b) Crime Verification Value
(c) Card Verification Value
(d) Country Verification Value

7. Which principle of management states that there should be a place for everything and everything be in its place?
(a) Equity
(b) Discipline
(c) Order
(d) Esprit de corps

8. The principles of management, as advocated by Henry Fayol are:
(a) Scalar chain
(b) Equity
(c) Order
(d) Harmony, not discord

9. Principles of management are derived and developed by: 

(a) Observation

(b) Experimentation

(c) Both (a) and (b)

(d) None of these

10. Identify the statement which is not correct..

(a) Planning is the primary function of management

(b) Planning is always goal-oriented

(c) Planning is a continuous process and Forward-Looking Process

(d) Planning is a pervasive function of management

(e) Identifying alternative courses of action is the first step of planning.

Note: Answers are given below at the end.

ISC Commerce 12 Banking Latest Trends MCQs with Solved Answers

ISC COMMERCE MCQs SEMESTER 1 WITH SOLVED ANSWERS

(Question 11 to 15)

11. Sources of Finance for a Sole Proprietors Business include…

(a) Capital provided by the sole trader(owner)

(b) Trade credit from creditors

(c) Borrow funds from relatives and Family members

(d) Loan from Commercial Banks and Financial Institutions

(e) All of these

12. Mental Revolution is based on the principle of:

(a) Science not rule of thumb

(b) Harmony, not discord

(c) Cooperation, Not Individualism

(d) None of these

13. Which of the following is not include Borrowed  Funds (Sources of Finance for a Joint Stock Company)?

(a) Loan from Commercial Banks and Financial Institutions

(b) Instalment credit  

(c) Preference Share Capital

(d) Public Deposits

(e) Customer Advances

(f) Debentures 

14. Net working capital refers to:

(a) Current Assets – Current Liabilities

(b) Current Liabilities – Current Assets

(c) Current Assets + Current Liabilities

(d) Fixed Assets + Current Liabilities

15. Identify the type of plans from the following statements :
1. A company needs a detailed plan for its new project, “Construction of a shopping mall.”
2. Spending 10-12 crores for building public toilets under Swachh Bharat Abhiyaan.
3. 10% jobs reserved for women in every department.

4. While making its plan, the company takes into consideration the business environment.
5. Visitors to the factory must obtain valid entry passes.

Note: Answers are given below at the end.

ISC COMMERCE MCQs SEMESTER 1 WITH SOLVED ANSWERS

(Question 16 to 20)

16.If an organization collaborates with another organization, then it requires:

(a) More Fixed Capital

(b) Less Fixed Capital

(c) No Fixed Capital

(d) No Working Capital

17.Fixed capital is also known as :

(a) Block capital

(b) Working Capital

(c) Revolving  capital

(d) Net Working Capital

18.Working capital is also known as :

(a) Block capital

(b) Fixed Capital

(c) Revolving  capital

(d) Reserve Capital

19. A fund transfer method through which money is sent in a ‘real time’ basis without any delays is known as…
(a) NEFT
(b) RTGS
(c) NFT
(d) NIFT

20.Which of the following is not a function of Management:
(a) Planning
(b) Staffing
(c) Controlling
(d) Coordination
(e) Cooperation

Note: Answers are given below at the end.

ISC COMMERCE MCQs SEMESTER 1 WITH SOLVED ANSWERS

(Question 21 to 25)

21. Working capital has two concepts, gross working Capital and:
(a) Zero
(b) Networking Capital
(c) Cumulative working Capital
(d) Outstanding working Capital

22. The applicability of principles of management depends upon the prevailing situation at a particular point of time. Identify the feature of principles of management, highlighted from the statement:
(a) General guidelines
(b) Contingent
(c) Flexible
(d) All of these.

23. In a company there are four departments finance, marketing, production, and human resource development. Identify the principle of management used in this company
(a) scalar chain
(b) Discipline
(c) Unity of command
(d) Division of work

24. In which of the following categories can a business environment be divided?
(a) Local and Regional
(b) Regional and national
(c) Internal and external
(d) Financial and Non-financial

25. ________environment is with in the control of business.
(a) Internal
(b) External
(c) Micro
(d) Macro

ISC COMMERCE Principles of Management MCQs with Solved Answers

Answer – Question Number 1 To 5

1. Answer-(a) Management

2. Answer-(d) Stability

3. Answer-(d) Financial Needs

4. Answer-(d) All of these

5. Answer-(b) 50,000

ISC Commerce 12 Planning MCQs with Solved Answers

Answer – Question Number 6 To 10

6. Answer-(c) Card Verification Value

7. Answer-(c) Order

8. Answer-(d) Harmony, not discord

9. Answer-(c) Both (a) and (b)

10. Answer-(e) Identifying alternative courses of action is the first step of planning.

ISC Commerce 12 Sources of Finance MCQs with Solved Answers

Answer – Question Number 11 To 15

11. Answer-(e) All of these

12. Answer-(b) Harmony, not discord

13. Answer-(c) Preference Share Capital

14. Answer-(a) Current Assets – Current Liabilities 

15. Answer-1. Programme

2. Objective
3. Policy
4. Strategy
5. Procedure

Answer – Question Number 16 To 20

16. Answer- (b) Less Fixed Capital

17. Answer-(a) Block capital

18. Answer-(c) Revolving  capital

19. Answer-(b) RTGS

20. Answer-(e) Cooperation

Answer – Question Number 21 To 25

21. Answer-(b) Net working Capital

22. Answer-(c) Flexible

23. Answer-(d) Division of work

24. Answer-(c) Internal and external

25. Answer-(a) Internal