Free Private, Public and Global Enterprises 01 Practice Test - 11th Grade - Commerce 

Question 1

1. Indian Railways runs 12,617 trains to carry over 23 million passengers daily. 

2. Railways play a vital role in helping the people in the event of natural calamtities like droughts, floods, famines, earthquakes etc. 

Which of the above statements is correct?

A.

Only statement 1 is correct

B.

Only statement 2 is correct

C.

Both statements 1 and 2 are correct

D.

Neither of the statements is correct

SOLUTION

Solution : C

Both statements 1 and 2 are correct. 

1. Indian Railways runs 12,617 trains to caary over 23 million passengers daily. 

2. Railways play a vital role in helping the people in the event of natural calamtities like droughts, floods, famines, earthquakes etc. 

Question 2

Indian economy consists of ___________.

A.

Only Private Business

B.

Only Government Business

C.

Private and Government owned business

D.

None of these

SOLUTION

Solution : C

Indian economy consists of public and private owned business.

Question 3

___________ consists of business owned by individuals or a group of individuals.

A.

Private Sector

B.

Service Sector

C.

None of these 

D.

Public Sector

SOLUTION

Solution : A

Private Sector consists of business owned by individuals or a group of individuals.

Question 4

Which of the following is an example of Departmental undertakings?

A.

Railway

B.

Post and Telegraph Department

C.

Air India

D.

All of these

SOLUTION

Solution : D

All of these are examples of Departmental Undertakings. 

Question 5

___________ are set up under an Act of parliament and are governed by the provisions of the Act.

A.

Statutory Corporations

B.

Partnership

C.

Limited Companies

D.

Private Companies

SOLUTION

Solution : A

Statutory Corporations are set up under an Act of parliament and are governed by the provisions of the Act.

Question 6

A well developed insurance sector provides funds for infrastructure development and strengthens the risk taking ability of the country. 

A.

False

B.

True

SOLUTION

Solution : B

True. A well developed insurance sector provides funds for infrastructure development and strengthens the risk taking ability of the country. 

Question 7

Which of the following statements is correct about BHEL? 

1. BHEL was established in 1964. 

2. It was granted the prestigious Navratna status in 2013 by the Government of India. 

A.

Only statement 1 is correct 

B.

Both statements 1 and 2 are correct 

C.

Neither is correct

D.

Only statement 2 is correct

SOLUTION

Solution : A

Only statement 1 is correct. It was granted the prestigious Maharatna (big gem) status in 2013 by the Government of India. 

Question 8

An MNC, by definition, means a company which operates in many countries. 

A.

True 

B.

False

SOLUTION

Solution : A

True. An MNC, by definition, means a company which operates in many countries. 

Question 9

'Indian Railway' is a part of Railways Ministry. It is organised, financed and controlled by Railway Ministry. The finances are allocated from government treasury and whatever revenue it earns is deposited to government treasury only. It is treated as a part of government and even the appointment, recruitment, and selection of employees is done in the same way as that of civil servant. 

Choose the correct answer combinations for following questions: 

(a) Name the type of public sector enterprise railways is considered. 

(b) What is the status of employees working in railways?

(c) How does it get its finance?

(d) What does it do with its revenue?

A.

(a) Departmental undertaking.

(b) They are considered civil servants or government employees.

(c) From government treasury.

(d) It is deposited in the government treasury. 

B.

(a) Statutory corporation. 

(b) They are considered civil servants or government employees. 

(c) From their own treasury. 

(d) It is deposited in their own treasury.

 

C.

(a) Departmental undertaking. 

(b) They are regular employees of a company.

(c) From government treasury.

(d) It is deposited in the government treasury. 

D.

None of these

SOLUTION

Solution : A

(a) Departmental undertaking.

(b) They are considered civil servants or government employees.

(c) From government treasury.

(d) It is deposited in the government treasury. 

Question 10

One of the problems of Indian Railways is that there is too much intereference of ministers and top officials. 

A.

True

B.

False

SOLUTION

Solution : A

True. One of the problems of Indian Railways is that there is too much intereference of ministers and top officials. 

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