Chapter 4: Business Services — Online MCQ Test
BUSINESS STUDIES · Grade 11 · CBSE(NCERT)
Practice Chapter 4: Business Services with a free chapter-wise online MCQ test.
This chapter covers: This chapter covers commercial business services banking types and services insurance principles and types warehousing communication and transport services..
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Chapter 4: Business Services — Important Questions & Answers
What is meant by business services?
- A. Activities that satisfy personal wants only
- B. Services that help in the smooth conduct of business activities
- C. Only transport services used by passengers
- D. Services provided only by government departments
Answer: B. Services that help in the smooth conduct of business activities
Business services are those services that support business operations, such as banking, insurance, warehousing, and transport.
Business services are those services that support business operations, such as banking, insurance, warehousing, and transport.
Which of the following is a function of a commercial bank?
- A. Manufacturing goods
- B. Accepting deposits and granting loans
- C. Setting school curriculum
- D. Producing agricultural crops
Answer: B. Accepting deposits and granting loans
Commercial banks mainly accept deposits from the public and provide loans and advances to customers.
Commercial banks mainly accept deposits from the public and provide loans and advances to customers.
A customer deposits money in a bank for safekeeping and earns interest. This is an example of which bank function?
- A. Advancing loans
- B. Accepting deposits
- C. Discounting bills
- D. Agency function
Answer: B. Accepting deposits
Accepting deposits is a primary function of commercial banks and depositors may earn interest on their money.
Accepting deposits is a primary function of commercial banks and depositors may earn interest on their money.
A trader wants to keep goods safely until demand rises in the market. Which business service best meets this need?
- A. Transport
- B. Warehousing
- C. Insurance
- D. Advertising
Answer: B. Warehousing
Warehousing helps traders store goods safely and release them when required for sale.
Warehousing helps traders store goods safely and release them when required for sale.
A company imports raw materials from another country. Which combination of business services is most directly involved in making this possible?
- A. Transport, insurance, and banking
- B. Warehousing, tailoring, and farming
- C. Advertising, mining, and carpentry
- D. Education, health care, and tourism
Answer: A. Transport, insurance, and banking
International trade commonly depends on transport for movement, insurance for risk coverage, and banking for payment and finance.
International trade commonly depends on transport for movement, insurance for risk coverage, and banking for payment and finance.