Chapter business-services: Business Services Assertion-Reason Questions | business studies Class 11 CBSE

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Chapter business-services: Business Services Assertion-Reason Questions | business studies Class 11 CBSE | ByteNotes.in

Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 1

Logic Check

Assertion (A): Services are intangible in nature. Reason (R): Services cannot be seen, touched, or stored before purchase.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 2

Logic Check

Assertion (A): A current account is preferred by traders for daily transactions. Reason (R): Current accounts earn higher interest than savings accounts.

Reasoning Options

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Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 3

Logic Check

Assertion (A): The principle of indemnity ensures the insured cannot profit from a claim. Reason (R): Insurance is a contract to restore the insured to the same financial position as before the loss.

Reasoning Options

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Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 4

Logic Check

Assertion (A): Warehousing helps stabilise prices of goods in the market. Reason (R): Warehouses allow goods to be withheld from the market during surplus and released during scarcity.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 5

Logic Check

Assertion (A): RTGS is suitable for transferring small amounts below ₹2 lakh. Reason (R): RTGS processes transactions individually and in real time.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 6

Logic Check

Assertion (A): Marine insurance can cover goods transported by road or rail. Reason (R): Marine insurance is limited only to goods transported by sea.

Reasoning Options

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Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 7

Logic Check

Assertion (A): Courier services provide a more reliable delivery option than ordinary postal services for businesses. Reason (R): Courier services offer features like tracking, door-to-door delivery, and delivery acknowledgement.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 8

Logic Check

Assertion (A): A bonded warehouse is owned by private traders for storing their own goods. Reason (R): A bonded warehouse is used to store imported goods on which customs duty has not been paid.

Reasoning Options

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Assertion-Reason

Hard difficulty • Check the statement and reason

Hard

Question 9

Logic Check

Assertion (A): Life insurance is a contract of indemnity. Reason (R): In life insurance, the value of human life cannot be precisely measured in monetary terms.

Reasoning Options

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Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 10

Logic Check

Assertion (A): Banks accept deposits from the public. Reason (R): Accepting deposits is the primary function of a commercial bank.

Reasoning Options

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Assertion-Reason

Hard difficulty • Check the statement and reason

Hard

Question 11

Logic Check

Assertion (A): The principle of subrogation applies only to general insurance policies. Reason (R): The principle of subrogation prevents the insured from making a profit by claiming from both the insurer and the responsible third party.

Reasoning Options

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Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 12

Logic Check

Assertion (A): Perishability is a characteristic of services. Reason (R): Services can be produced in advance and stored for future use.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 13

Logic Check

Assertion (A): Insurance mobilises savings and contributes to economic development. Reason (R): Insurance companies invest the collected premiums in productive sectors of the economy.

Reasoning Options

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Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 14

Logic Check

Assertion (A): Fixed deposit accounts offer higher interest rates than savings accounts. Reason (R): In fixed deposits, money is locked in for a specific period, so banks can use it for lending purposes.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 15

Logic Check

Assertion (A): Cold storage warehouses are used for storing wheat and rice. Reason (R): Cold storage maintains low temperatures suitable for preserving perishable goods like dairy products and vegetables.

Reasoning Options

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Assertion-Reason

Hard difficulty • Check the statement and reason

Hard

Question 16

Logic Check

Assertion (A): Insurable interest must exist in fire insurance at the time of loss. Reason (R): If insurable interest does not exist at the time of loss, the insured cannot claim compensation.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 17

Logic Check

Assertion (A): NEFT has no minimum transfer limit. Reason (R): NEFT processes funds in real time, making it suitable for both small and large transactions.

Reasoning Options

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Assertion-Reason

Easy difficulty • Check the statement and reason

Easy

Question 18

Logic Check

Assertion (A): An endowment policy provides both death benefit and survival benefit. Reason (R): An endowment policy is a combination of insurance and savings.

Reasoning Options

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Assertion-Reason

Hard difficulty • Check the statement and reason

Hard

Question 19

Logic Check

Assertion (A): Services are heterogeneous because their quality varies from provider to provider. Reason (R): Services are produced and consumed simultaneously, which makes standardisation difficult.

Reasoning Options

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Assertion-Reason

Medium difficulty • Check the statement and reason

Medium

Question 20

Logic Check

Assertion (A): Warehousing enables continuous production throughout the year. Reason (R): Warehouses store raw materials and finished goods, so production need not stop due to seasonal unavailability of inputs.

Reasoning Options

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Chapter sections

Chapter business-services: Business Services | Assertion-Reason

Assertion (A): Services are intangible in nature. Reason (R): Services cannot be seen, touched, or stored before purchase.

Assertion (A): A current account is preferred by traders for daily transactions. Reason (R): Current accounts earn higher interest than savings accounts.

Assertion (A): The principle of indemnity ensures the insured cannot profit from a claim. Reason (R): Insurance is a contract to restore the insured to the same financial position as before the loss.

Assertion (A): Warehousing helps stabilise prices of goods in the market. Reason (R): Warehouses allow goods to be withheld from the market during surplus and released during scarcity.

Assertion (A): RTGS is suitable for transferring small amounts below ₹2 lakh. Reason (R): RTGS processes transactions individually and in real time.

Assertion (A): Marine insurance can cover goods transported by road or rail. Reason (R): Marine insurance is limited only to goods transported by sea.

Assertion (A): Courier services provide a more reliable delivery option than ordinary postal services for businesses. Reason (R): Courier services offer features like tracking, door-to-door delivery, and delivery acknowledgement.

Assertion (A): A bonded warehouse is owned by private traders for storing their own goods. Reason (R): A bonded warehouse is used to store imported goods on which customs duty has not been paid.

Assertion (A): Life insurance is a contract of indemnity. Reason (R): In life insurance, the value of human life cannot be precisely measured in monetary terms.

Assertion (A): Banks accept deposits from the public. Reason (R): Accepting deposits is the primary function of a commercial bank.

Assertion (A): The principle of subrogation applies only to general insurance policies. Reason (R): The principle of subrogation prevents the insured from making a profit by claiming from both the insurer and the responsible third party.

Assertion (A): Perishability is a characteristic of services. Reason (R): Services can be produced in advance and stored for future use.

Assertion (A): Insurance mobilises savings and contributes to economic development. Reason (R): Insurance companies invest the collected premiums in productive sectors of the economy.

Assertion (A): Fixed deposit accounts offer higher interest rates than savings accounts. Reason (R): In fixed deposits, money is locked in for a specific period, so banks can use it for lending purposes.

Assertion (A): Cold storage warehouses are used for storing wheat and rice. Reason (R): Cold storage maintains low temperatures suitable for preserving perishable goods like dairy products and vegetables.

Assertion (A): Insurable interest must exist in fire insurance at the time of loss. Reason (R): If insurable interest does not exist at the time of loss, the insured cannot claim compensation.

Assertion (A): NEFT has no minimum transfer limit. Reason (R): NEFT processes funds in real time, making it suitable for both small and large transactions.

Assertion (A): An endowment policy provides both death benefit and survival benefit. Reason (R): An endowment policy is a combination of insurance and savings.

Assertion (A): Services are heterogeneous because their quality varies from provider to provider. Reason (R): Services are produced and consumed simultaneously, which makes standardisation difficult.

Assertion (A): Warehousing enables continuous production throughout the year. Reason (R): Warehouses store raw materials and finished goods, so production need not stop due to seasonal unavailability of inputs.

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