Business Services
Odisha Board · Class 11 · Business Studies
Practice quiz for Business Services — Odisha Board Class 11 Business Studies. MCQs and questions with answers to test your preparation.
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Quick Quiz: Business Services
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What are the five key characteristics of services, known as the 'five Is'?
What is the primary function of a commercial bank?
What is the fundamental principle of insurance?
Which of the following is NOT a type of warehousing?
Sample Questions
What is e-banking?
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Electronic banking using internet and digital platforms
E-banking allows customers to conduct banking transactions online using computers, mobile phones, or other digital devices.
What are business services?
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Services used exclusively by businesses for conducting their activities
Business services include banking, insurance, transportation, warehousing, and communication services that support business operations.
Which principle states that the insured must take reasonable steps to minimize loss?
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Mitigation
The mitigation principle requires the insured to take reasonable steps to reduce potential loss or damage to insured property.
What is a bonded warehouse?
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A government-licensed warehouse for imported goods before customs duty payment
Bonded warehouses allow importers to store goods temporarily before paying customs duties, facilitating international trade.
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