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Monthly Test - January 2021

Subject : Business & Accounting Studies
60 E
Class : 10 (National) ….......

Duration : 2 periods Date : .......................................

Candidate's name : ................................................................. Admission no : .........................

PART - I
Answer all the questions.

(1) Underline the most suitable answer.

(i) What is the correct statement relevant to the trade?
a) Transferring a cheque from one party to another party.
b) Transferring business information from one party to another party.
c) Transferring a worker from one branch to another branch.
d) Transferring ownership of a good from one party to another party.

(ii) Which one of the following, describes the term Export trade?
a) Selling goods to final consumption.
b) Selling goods to foreign countries.
c) Buying goods from foreign countries.
d) Buying goods to own consumption.

(iii) Following are some type of retail traders and some examples for them.
Type of retail traders Examples
(i) Fixed small-scale retail traders (A) Peddlers
(ii) Fixed large scale retail traders (B) Beauty Salon
(iii) Small scale mobile retailers (C) Supermarket

Select the answer which correctly matches the type of retail traders and the examples
respectively
a) ABC b) BCA c) CAB d) BAC

(iv) Select the answer which includes examples of transportation medium.

a) Automobiles, Trucks, Trains, Aircraft, Ships
b) Cycle, Boat, Submarines, Rocket, Airport
c) Bus, Boat, Trains, Cable transport, Port
d) Automobiles, Trucks, Bus stop, Trains, Aircraft

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(v) What is the latest invention in transportation industry?

a) Animal powered transport b) Steamboats
c) Self driving automobiles d) Foot cycles

(vi) Select the incorrect statement relevant to the airway transportation.

a) Ideal for door- to- door transport.
b) Ideal for international trade.
c) Ideal for long distances transport.
d) Ideal for fast and comfortable transport.

(vii)Which one of the following is not an advantage of management?

a) Using resources efficiently and effectively.
b) Providing a direction to the organization.
c) Time consuming and expensive.
d) Helping to monitor the business activities.

(viii) Using resources to achieve expected goals is defined as ………1………. and using
resources to obtain the maximum output from minimum resources is defined
as ……………2………….
Select the answer that shows the suitable terms for 1 and 2 respectively.
a) management and effectiveness b) efficiency and management
c) efficiency and effectiveness d) effectiveness and efficiency

(ix) Select the correct statement regarding “limitedness of resources”.

a) Resources are unlimited compared to limited human needs.
b) Resources are limited compared to unlimited human wants.
c) Resources are unlimited compared to unlimited human needs.
d) Resources are limited compared to limited human wants.

(x) Select the incorrect statement relevant to supporting services.

a) Paying bills, transferring money, checking account balance are benefits of banking
services.
b) Moving goods and passengers from one location to another location is called
transportation.
c) Life assurance can be used as a collateral when obtaining loans from financial
institutions.
d) Loud speakers, e mail, Fax, letters, Internet can be considered as electronic
communication methods.
[Total = 2 × 10 = 20 marks]

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PART – II
(01) “Unilever is one of the world’s leading consumer goods companies, making and selling
around 400 brands in more than 190 countries”.
(i) a) What is the Trade?
b) Classify the Trade
(2 marks)
(ii) State whether the following statements are True (T) or False (F).
a) Unilever engages in international trade activities. (----------)
b) International trading is needed, because of countries are not
self-sufficient with goods and services required. (----------)
c) Ability to sell excess products to other countries is an advantage
of domestic trade. (----------)
d) Selling tea, apparel textile and agricultural products to European
countries is import trade. (----------)
(2 marks)
(iii) Write two examples for import trades in Sri Lanka,
(2 marks)
(iv) Sithum Gamage is an architect who passed out from the University of Moratuwa
recently and he has started his own firm to provide architectural services to the
customers in Sri Lanka.
a) Defined the term “Domestic Trade”.
b) Identify the type of trade related to Sithum Gamage.
c) Write one feature of above type of trade.
d) Write two differences between retail and wholesale.
(4 marks)
[Total = 10 marks]

(02) Aruni Perera is the owner of “Fresh Flora” and she produces fresh flowers in order to
fulfill high demand in the market. She directly provides her products to the foreign market.
(i) a) Defined the term “Transportation service”.
b) What is the suitable way of transportation for Aruni Perera’s business?
c) Write two factors to be considered when selecting the above-mentioned medium.
(4 marks)

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(ii) Why transportation service is needed for business organizations?

(2 marks)
(iii) Write two advantages of railway transportation compared to road way transportation.
(2 marks)
(iv) State whether the following statements are True (T) or False (F).
a) Road ways are ideal method for doing international trade activities. (----------)
b) Solar power can be considered as a terminal of transportation. (----------)
c) Sri Lanka Transport Board is a bus service provider in Sri Lanka. (----------)
d) Harbor, Airport, Stations can be considered as power of transportation. (----------)
(2 marks)
[Total = 10 marks]

(03) SENAKA Furniture is a furniture manufacturing company offering a diverse range of

modern and traditional furniture which is operating in Colombo. The management of the
company is now focusing to open a new branch in Kandy. They have decided to rent out
two buildings separately for the factory and showroom in order to open the new branch.
(i) a) Define the term “Management”.
b) Identify the management function mentioned in the above case.
c) What are the other functions of the management?
d) Why management is important to businessman?
(6 marks)
(ii) Following activities are relevant to management functions. Arrange those activities
according to the correct order.
A: Evaluating how well business organization is achieving its goals.
B: Choosing appropriate goals and strategies.
C: Energizing employees using vision.
D: Assigning and allocating tasks, duties and resources of the business.

(2 marks)
(iii) State whether the following statements are True (T) or False (F).
a) Management functions are not related to not for profit
organization. (----------)
b) Higher productivity is an advantage of management. (----------)
c) Management will provide a clear road map for business
organization . (----------)
d) Monitoring and measuring the effectiveness of the plan is called
organizing. (----------)

(2 marks)
[Total = 10 marks]

END
Ref : AP
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