QUEENSWAY GIRLS’ INTERNATIONAL SCHOOL
Mid -Term Examination 2024
Year 9 - Business and Accounting
Name of student: - ………………………………. Class: - ……………..
Name of the invigilator:- ………………………… Rechecked by:- ……………….
01.Underline the most suitable answer (30m)
1)Wants are different ways of satisfying needs. Select the answer which includes only wants.
a. Education, Teaching, Government schools, libraries.
b. Sarees, trousers, frocks, clothes.
c. Government schools, examinations, teaching, libraries.
d. Food, clothes, education, shelter.
2) Consumers and other different stakeholders of business have specific objectives to be
fulfilled.
Select them.
a. earning profit & increasing the customers satisfaction.
b. increasing the quality of goods and services.
c. creating job opportunities and employee welfare.
d. earning profit and increasing the quality of goods and services.
3)Entrepreneur,
a. creates innovations
b. takes the risk.
c. takes decision with regard to the business.
d. encompasses the role of organizing factors of production in order to start and conduct a
manufacturing process.
4)Select the answer which is having reasons that the government intend to achieve from the
business.
a.Protecting consumers b.Providing business friendly incentives
c.Collecting taxes due. d.Increasing the productivity of labour
(1)ABD (2) ABC (3) BCD (4) ACD
5)The examples for assets and liabilities are,
a.buildings, sales
b.Land, bank balance
c.bank loan, creditors
d.debtors, creditors
6) Select the answer which is having only the stakeholders of businesses.
a. community, future investors, government, environmentalists.
b. competitors, community, journalists, environmentalists.
c. community, financial institutions, competitors, future investors.
d. competitors, journalists, environmentalists, community.
7) Following are few reasons for stakeholders to be interested towards the business
a. To provide loans continuously b. To receive money on time
c. To obtain the money given d. To get continuous order
Reasons of financial institutions to be interested towards business are;
(1) A and B only (2) A and C only (3) A, B and C only (4)All of the above
8)Column ''A'' shows the reason for the interest of each stakeholder and column ''B'' shows
the interested parties
Column A Column B
1. Job development A. Community
2.Providing social welfare B. Government
3.To receive continuous orders C. Managers
4.Increasing job opportunities D. Suppliers
What is the correct answer when column A and column B are matched?
1. ABCD. 2. CDBA 3. CADB 4. BADC
9)Select the incorrect accounting equation
a. Liabilities = Equity + Assets b. Equity = Assets – Liabilities
c. Assets = Equity + Liabilities d. Liabilities = Assets – Equity
10)
Column A Column B
1. Creditors A. Assets
2. Machine repair B. Income
3. Debtors C. Expense
4. Rent received D. Liability
Select the option which best suits column A with column B
(1)DCAB (2)ACDB (3) DACB (4)CBAD
11)Select an answer which affect to the change of equity of the business
a. Paid Rs,200,000 electricity bill
b. Obtained a bank loan of Rs.8000
c. Owner withdrew Rs.1200 worth of goods from the business
d. Purchased good worth Rs.9000 by cash.
(1)A and C (2)B and C (3) A and D (4)B and D
12) Out of the following select an answer which is not an external force
a. Suppliers b. Managers c. Customers d. Competitors
13) The resources to be used or sold within one year period in a business is called,
a. Non – current assets b. Current liabilities
c. Non-Current liabilities d. Current assets
14)Following shows a transaction occurred in a business ; A stock worth of Rs.12 000 has
been sold for Rs.19 000. Find the net impact of the above transaction.
a. Assets decrease by Rs.12 000 and equity increase by Rs.19 000
b. Assets increase by Rs.7 000 and equity increase by Rs.7 000
c. Asset decrease by Rs.7 000 and equity decrease by Rs.7 000
d. Equity increase by Rs.7 000 and liability decrease by Rs.7 000
15)Bonds that can be settled even after one year are,
a.Current assets b. Current liabilities
c. Non-current assets d .Non-current liabilities
16. Select the answer which indicates the examples for human needs only.
a.Food, school, shelter b.Health, shelter, internet
c.Communication, food, shelter n d. Food, shelter, uniforms
17)The service of a doctor is a ....................... and the stethoscope is a ....................
Select the correct answer for above blanks 1 & 2 respectively.
a.service, good. b.need, want.
c.good, service d.want, good.
18)Match the column "A" with the column "B"
A B
1. CCTV cameras A. Health
2. Suwaseriya" Ambulances B. Security
3. Books C. Communication
4. Mobile phones D. Education
(1) A B C D (2)B A D C (3)C A B D (4) B A C D
19) It is not a stakeholder of “Amandas Bookshoop”
a.Amanda b. Suzans bookshop
c. Peoples Bank d. Jacobs milk bar
20) Select the incorrect statement.
a. The institution which manufactures and provides different goods and services are called
as businesses.
b. Earning profits is the main objective of an every business.
c. Wants are the different ways of satisfying needs.
d. Physical existing things which are used to fulfil human needs and wants are called as
goods.
21) Select a commodity manufacturing business.
a.insurance institutions. b. retail businesses.
c.beauty saloons. d.chair manufacturing businesses.
22) Select the answer which is related to the factor of production "Land".
a.forest resource , soil b.forest resource, cut gems
c.soil, buildings d.minerals, cash
23) Businesses expect certain contributions from its stakeholders. Select the stakeholder who
contributes "providing business friendly incentives"
a.managers b.suppliers c.government d.community
24) ......................... are intend to secure their investment and ....................... are intend to
receive a fair salary. The correct answer for above blanks 1 & 2 respectively is.
a. competitors, employees b.suppliers, employees
c.owners. suppliers d.owners. employees
25) It is not a reason for selecting mostly as small scale businesses by the businessmen.
a. ease of starting with less capital.
b. ease of starting with less legal influences.
c. have the ability to influence the respective industry.
d. to be able to make the best use of their skills.
26) The answer that only contains the factors of external environment is,
a. Owners, Employees, Competitors
b. Customers, Competitors, Suppliers
c. Employees, Competitors, Customers
d. Managers, Customers, Employees
27) It is not a feature of a service
a. Being able to store
b.Being invisible
c.Variation of quality according to supplier
d.Getting discharged after one is used
28)What is the basic of exchanging goods and services?
a. Direct production b. indirect production c. Surplus production d. Barter system
29)The most appropriate definition for business is,
a. Trade and other services
b. The rapid growth of business
c. Business integrated with information technology
d. Any economic activity which satisfies human needs and wants
30) The common feature of any business organization is,
a. Legal personality
b. Having an objective
c. Limited liability
d. Keeping accounting system
