Business Services Test

Result

Business Services Test - 17

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Weekly Quiz Competition

Question 1
1 / -0

Which among the following gives an idea that the goods preserved are perishable?

A
Cold storage helps to maintain the quality of goods.

B
It helps to widen the market.

C
It saves time by providing the goods as and when required.

D
Processed goods can be graded, packed, and labeled.

Solution

Cold storage helps to maintain the quality of goods gives an idea that the goods preserved are perishable. Cold storage is useful as it helps to store perishable goods for a period of time. Cold storage is crucial as it helps to prolong thhe shelf life of fresh goods.
Question 2
1 / -0

The place where goods are preserved on a large scale in a systematic and orderly manner is commonly called as _____________.

A
Retail outlet

B
Factory

C
Open ground

D
Warehouse

Solution

The place where goods are preserved on a large scale in a systematic and orderly manner is commonly called as warehouse. Goods are stored in warehouse generally before the delivery or sale of the goods. Warehouse helps to protect the perishable goods.
Question 3
1 / -0

The type of warehouse suitable for seasonal goods is ______.

A
Private warehouse

B
Co-operative warehouse

C
Cold Storage warehouse

D
Public warehouse

Solution

The type of warehouse suitable for seasonal goods is cold storage warehouse. Cold storage warehouse helps to prolong the shield life for fresh goods. It helps to keep the goods fresh after production and before the delivery or sale of the goods.
Question 4
1 / -0

The process of comparing the products and services with those of best in the industry to improve quality and performance is known as _____________.

A
Advertising

B
After-sale-Device

C
Bench marking

D
None of the above

Solution

The process of comparing the products and services with those of the best in the industry to improve quality and performance is known as benchmarking. Benchmarking can be defined as a process of measuring the performance of the company against other companies in the market. Benchmarking is conducted to identify the internal opportunities which will lead to improvement in organizational objectives. Hence, option (C) is the correct answer.
Question 5
1 / -0

Non-payment of premium results in a policy being declared _______________.

A
Insured

B
Null and void

C
Dishonoured

D
None of the above

Solution

Non-payment of premium results in a policy being declared null and void. To run a policy, certain amount of premium is to be paid at a regular interval of time period. If someone fails to pay that certain amount of premium within the gven period of time, then as a result the policy becomes null and void.
Question 6
1 / -0

Identify the type of warehouse licensed by the government provided for storing imported goods _______________.

A
Duty-paid warehouse

B
Bonded warehouse

C
Government warehouse

D
Licensed warehouse

Solution

Bonded warehouse licensed by the government provided for storing imported goods. It may be managed by the state or private enterprises.Bonded warehouse can be defined as customs-controlled warehouse for storing the imported goods until the duty is paid.
Question 7
1 / -0

Life Insurance Corporation Ltd. is formed under ______________.

A
Companies Act, 2013

B
Special Act of Parliament

C
Both (a) & (b)

D
None of these

Solution

B.
The public enterprises that are formed by a Special Act of the Parliament are known as Statutory Corporations. The Act defines the powers and the functions of such organizations. It is a financially independent corporate body and has the capacity to act on its own name.
The Life Insurance Corporation of India was created on 1st September, 1956, under the Life Insurance Corporation Act,1956 passed by the Parliament. It was set up with the objective of spreading life insurance more widely and in particular to the rural areas so that it reaches all insurable persons in the country and providing them adequate financial cover at a reasonable cost.
Question 8
1 / -0

'Goods in bond' is related to which of the following warehouses?

A
Public warehouses

B
Bonded warehouses

C
Co-operative warehouses

D
Cold-storage warehouse
Solution
- Public warehouses can be used for storage of goods by traders, manufacturers or any member of the public after the payment of a storage fee or charges. The government regulates the operation of these warehouses by issuing licences for them to private parties.
- Bonded warehouses are licensed by the government to accept imported goods prior to payment of tax and customs duty. These are goods which are imported from other countries. Importers are not permitted to remove goods from the docks or the airport till customs duty is paid.
- At times, importers are not in a position to pay the duty in full or does not require all the goods immediately. The goods are kept in bonded warehouses by the customs authorities till the customs duty is paid. These goods are said to be in bond.
- Some marketing cooperative societies or agricultural cooperative societies have set up their own warehouses for members of their cooperative society.
- Cold-storage warehouse are suitable for storing goods that are highly perishable.
Question 9
1 / -0

Cold-Storage are found in ______.

A
Kolkata

B
Delhi

C
Mumbai

D
All of the above

Solution

Cold storage are used to store perishable goods for a period of time. It is important as it helps to prolong the shelf life of fresh goods. Cold-Storage are found in:
a) Kolkata
b) Delhi
c) Mumbai
Question 10
1 / -0

Image-based cheque clearing system where the image of the cheque is sent electronically _____________.

A
RTGS

B
NEFT

C
CBS

D
CTS

Solution

Image-based cheque clearing system where the image of the cheque is sent electronically is known as CTS. The Cheque Truncation System( CTS) can be defined as a process of stopping flow of physical cheque in which electronic image of the instrument is presented during the time of clearing.

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Re-Attempt Weekly Quiz Competition

Business Services Test - 17

Result

Business Services Test - 17

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SHARING IS CARING

Question 1

Cold storage helps to maintain the quality of goods.

It helps to widen the market.

It saves time by providing the goods as and when required.

Processed goods can be graded, packed, and labeled.

Solution

Question 2

Retail outlet

Factory

Open ground

Warehouse

Solution

Question 3

Private warehouse

Co-operative warehouse

Cold Storage warehouse

Public warehouse

Solution

Question 4

Advertising

After-sale-Device

Bench marking

None of the above

Solution

Question 5

Insured

Null and void

Dishonoured

None of the above

Solution

Question 6

Duty-paid warehouse

Bonded warehouse

Government warehouse

Licensed warehouse

Solution

Question 7

Companies Act, 2013

Special Act of Parliament

Both (a) & (b)

None of these

Solution

Question 8

Public warehouses

Bonded warehouses

Co-operative warehouses

Cold-storage warehouse

Solution

Question 9

Kolkata

Delhi

Mumbai

All of the above

Solution

Question 10

RTGS

NEFT

CBS

CTS

Solution

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