CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Building a business takes time than it takes to generate the idea for the business of
Ans. Longer
Q. Entrepreneurs should not be greedy to grow big, as this needs patience as well.
Ans. False
Q. Entrepreneurs need to have to be successful.
Ans. Patience
Q. ………………………is the specific tool of entrepreneurship?
Ans. Innovation
Q. Which of these is an example of entrepreneurship?
Ans. Starting up a new type of restaurant in a city.
Q. Why is it important to have prior knowledge or relatable expertise to become a
successful entrepreneur?
Ans. Both A and B
Q. A successful tailor wanted to try something new. So, he opened a street food restaurant
in his area. But his restaurant did not run properly and eventually he had to close it down.
Why? Please select the best option.
Ans. He did not have prior knowledge of how to run a restaurant.
Q. An entrepreneur is one who involved in a FEW of these activities – managing, organizing,
innovating, assuming risks,etc.
Ans. True
Q. An entrepreneur does the following activities – managing, organizing and makes all the
decisions by himself.
Ans. True
Q. An entrepreneur is a person who takes less risk, avoids experimentation.
Ans. False
Q. Entrepreneurship involves organizing managing and assuming the risks pertaining to your
enterprise etc. And an entrepreneur is one who is involved in ALL of these.
Ans. True
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Entrepreneurs need membership in physical communities where ideas can be shared and
shaped.
Ans. True
Q. How to inspire and create entrepreneurial leaders within the organizations?
Ans. Both Are Correct
Q. Organizations are not entrepreneurial but people are entrepreneurial.
Ans. True
Q. Entrepreneuring framed as intentional iteration creates
Ans. Both are correct.
Q. An idea is defined as the content of cognition.
Ans. True
Q. Is every idea a possible opportunity?
Ans. True
Q. How to identify whether an idea is a opportunity or not?
Ans. Both are correct.
Q. Why do we need to evaluate an idea?
Ans. To know whether customers will buy the end product of an idea
Q. Successful entrepreneurship requires the ability to balance technical knowledge and
market knowledge
Ans. True
Q. An electrician observed that grocery stores in his area are running successfully and
wanted to open one too. He opened one but was not able to make any profits Why?
Ans. Both are correct
Q. Cash flows simply put is the difference between the cash that flows in and cash that flows
out
Ans. True
Q. ………….. is the value of raw materials held, work-in-process and finished by the good held
by the business.
Ans. Debentures
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. The market should be large and growing while evaluating whether an idea is an
opportunity or not.
Ans. True
Q. The venture/business should be of high strategic value to a potential acquirer.
Ans. True
Q. ………………….. is the monetary value of resources, like material, labor and overheads, used
in the making of a product or delivery of a service.
Ans. Cost
Q. Direct vs indirect costs are based their association with different cost objects.
Ans. True
Q. Costs that do not vary in the short term, regardless of changes in output levels, are called
costs.
Ans. Direct Cost
Q. Retail companies like Reliance Fresh, D-Mart, Big Bazaar have of conversion.
Ans. Low To High
Q. the key determinants of the cost of goods sold (COGS), which appears on the P&L
Ans. Product Cost
Q. is the cost of any material directly used in the production of the output.
Ans. Product Cost
Q. cost includes salaries, bonuses, insurance, pension benefits, earned leave paid to the
individuals involved.
Ans. Surplus
Q. Cost allocation is a method through which a business allocates or distributes an indirect
cost across various cost objects.
Ans. True
Q. Costs that vary with the output levels are called variable costs.
Ans. Direct Material Cost
Q. …………….costs are those that have been completely consumed or the benefits from which
have been received by the business.
Ans. Unexpired Costs
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. What are the characteristics or traits of a successful entrepreneur? Select the best
option.
Ans. All of the above.
Q. What is not a characteristics/trait of a successful entrepreneur?
Ans. Quits halfway when the situation becomes difficult
Q. Choose the correct objectives of Finance and Accounting from the following options
below.
Ans. Both a & b
Q. By the term, Accounting was practised in India twenty three centuries ago as is clear from
the book named “Arthashastra” written by ?
Ans. Chandragupta
Q. The main purpose of accounting is to ascertain profit or loss during a specified period, to
show financial condition of the businesson a particular date.
Ans. TRUE
Q. Bookkeeping is associated with which part of the accounting.
Ans. Recording of Transactions
Q. An accountant is required to take part in matters of management, control and planning
of economic resources.
Ans. TRUE
Q. Choose the correct Nature of Accounting from the below options:
Ans. Both a & b
Q. _____________ is an ideal in which political processes translate the will of the people
into public policies and establish the rules that efficiently and effectively deliver services to
all members of society.
Ans. Good governance
Q. Choose the main barriers of communication from the below list.
Ans. Anger
Q. Choose the Cyber Wellness Value from the following:
Ans. Disrespect
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Choose the correct option from the following threats under Cyber Wellness.
Ans. Copyright Infringement and Plagiarism
Q. Choose the correct step for smartphone safety from the following.
Ans. Security Software
Q. Public Wi-Fi hotspots can give hackers easy access to your phone.
Ans. TRUE
Q. ICT stands for?
Ans. Information and Communication Technologies
Q. In 1977 Government of India (GoI) has taken first major step towards implementation of
e-governance by establishment of National Informatics Centre (NIC)
Ans. False
Q. In which year Government of India (GoI) launched the national satellite-based network
NICNET?
Ans. 1986
Q. Entrepreneur is an individual who, rather than working as an employee, runs a small
business and assumes all the risks & rewards of a given business venture, Idea, or Good or
Service.
Ans. TRUE
Q. Select the types of Entrepreneurs from the following.
Ans. Both a & c
Q. Small firms are more likely than large companies disappear from the market because of
the following reasons?
Ans. Lack of leadership skills
Q. Following are the major mistakes Entrepreneurs do during the operation.
Ans. Both a & b
Q. Many entrepreneurs, from ignorance or from too much confidence in their forces reach a
setback due to improper management business growth and development?
Ans. TRUE
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Entrepreneurship has been described as the “capacity and willingness to develop,
organize and manage a business venture along with any of its risks in order to make a profit.
Ans. TRUE
Q. The e-District proect was conceptualized to improve this experience and enhance the
efficiencies of the various Departments at the district- level to enable seamless service
delivery to the citizen.
Ans. TRUE
Q. Applications for new PAN Card process through CSCs in collaboration with UTI
Infrastructure Technology and Services Limited (UTIITSL) and National Securities Depository
Limited (NSDL).
Ans. TRUE
Q. Pradhan Mantri Awas Yoj ana (PMAY) is an ambitious housing scheme of the Government
for creating affordable housing units for the following category.
Ans. Both Urban & Rural poor
Q. Food Safety and Standards Authority of India (FSSAI) partnered with CSC SPV to provide
Food Business Operator (FBO) registration service through CSCs.
Ans. TRUE
Q. Common Services Centres (CSCs) are the access points for delivery of various electronic
services to the rural citizens of India.
Ans. TRUE
Q. Digital India is a flagship programme of ____________ with a vision to transform India
into a digitally empowered society and knowledge economy.
Ans. Government of India
Q. Select the vision enables by the Common Service Centre (CSC) under the Digital India
Programme.
Ans. Digital empowerment of citizens
Q. Common Services Centres (CSCs) are envisaged as assisted front end enabled centres for
delivery of various GQC (Government to Citizen) and other BQC (Business to Citizen) services
to the citizens.
Ans. IDT (Information and Digital Technology)
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. A good VLE is someone who has entrepreneurial traits, strong social commitment as well
as respect within the community.
Ans. TRUE
Q. Select the role of VLE society from the following options given below:
Ans. D) Both A and C
Q. Jeevan Pramaan is Aadhaar based Digital Life Certificate for Pensioners of Central
Government, State Government or any other Government organization.
Ans. TRUE
Q. What are the age criteria for an individual to join National Pension Scheme (NPS)
Ans. 18-65 years
Q. Which scheme promotes the efficient use of energy at the residential level through LED
lights?
Ans. CSC LED Scheme
Q. CSC Wi-Fi Choupal was introduced to enable last-mile delivery of internet connectivity
through Wi-Fi/Wireless to the urban & rural location of India.
Ans. TRUE
Q. Select the connect feature of Digital Seva Portal from the following:
Ans. Both a & c
Q. Digital Seva Connect is an identity solution to sign in to the following portal.
Ans. Service Access Provider (SAP)
Q. ________ is a term life insurance policy that can be renewed either on a yearly basis or
for a longer period of time. It will provide life insurance coverage on the death of the
policyholder.
Ans. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Q. insurance premium is a specified amount stipulated by the insurance company, which the
insured individual should periodically pay to maintain the actual coverage of insurance.
Ans. TRUE
Q. Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMGDISHA) is a scheme to make
digitally literate total no. _______ persons in rural areas, across States/UTs, by covering one
member from every eligible household.
Ans. 6 Crore
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. A Biometric device is a security identification and authentication devices which verifies
or recognize the identity of a living person by the following characteristic:
Ans. Fingerprints
Q. The Aadhaar Enabled Payment System (AEPS) gives the following banking facility to the
citizens.
Ans. Cash Deposit
Q. Cyber Gram Yojana is a Multi-sectoral Development Programme (MsDP) aims at
improving the socio-economic conditions of rural citizens of all category and providing basic
amenities to them for improving the quality of life.
Ans. TRUE
Q. Where the first community technical telecentre was opened?
Ans. Portland, USA in 1982
Q. Telecentre offers a wide range of communication services and tend to be publicly owned
and geared towards more isolated people like?
Ans. People having formal education
Q. What are the main objectives of Telecentre?
Ans. Overcome barriers to economic and educational developments that rely on
telecommunication services.
Q. In Europe, telecentres are known as?
Ans. Community Technology Centers (CTCs)
Q. The deployment of telecentres all across the world is referred to as the
Ans. Telecentre movement
Q. International agencies define governance as the exercise of authority or power in order
to manage a country’s economic, political and administrative affairs.
Ans. False
Q. CSC SPV has collaborated with ____________ to provide opportunities in field of
advanced skills using Solid Edge CAD tool.
Ans. DELL
Q. What are the correct aspects of Cyber Wellness?
Ans. Cybercrime
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Cyber Ethics refers to appropriate, responsible and ethical online behaviour that governs
all our interaction with other Internet users and emphasizes on the exercise of cyber values.
Ans. TRUE
Q. Effective Communication is significant for managers in the organizations so as to perform
the basic functions of management
Ans. TRUE
Q. What is main direction of communication flow in an organization? Choose the correct
option.
Ans. Straight Communication
Q. Communication that takes place between managers of other workgroups is called
diagonal communication.
Ans. TRUE
Q. Various non verbal components of communication are.
Ans. Both a & b
Q. Kinesics is known as study of body language.
Ans. TRUE
Q. Select the reason of the Copyright Infringement and Laws from the below options.
Ans. Both a & b
Q. Copyright does not exist forever. It applied only for a specific duration. After the expiry of
the specified time, the work falls in the public domain and is then open to the public for use
without the permission of the owner.
Ans. TRUE
Q. In social media safety it is important to disabled the following option to avoid revealing
your location to others.
Ans. Both A & B
Q. Finance and Accounting is the process of recording, summarizing and reporting the
myriad of transactions like financial statements, including the balance sheet, income
statement and cash flow statement.
Ans. TRUE
Q. Accounting is rightly referred the “language of business”.
Ans. TRUE
Page 9
CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Select the correct Branch of Accounting from the below options:
Ans. Both a & b
Q. Goods and services are divided into tax slabs for collection of tax. Choose the correct
option.
Ans. 0%, 5%, 12%, 18% and 28%.
Q. Petroleum products are taxed separately by the individual state governments.
Ans. TRUE
Q. The Goods and Service tax (GST) came into effect from __________ in India.
Ans. July 1, 2017
Q. The tax rates, rules and regulations are governed by the Goods and Services Tax Council
which comprises finance ministers of centre and all the states.
Ans. TRUE
Q. CSC SPV has built portal for filing application on Goods and Service Tax (GST). Choose the
correct option.
Ans. Digital Seva Portal
Q. VLEs can deregister for GST number if the turnover is less than Q lakhs as the notification
from Government of India that they are not required to register under GST.
Ans. TRUE
Q. Choose the correct components of GST
Ans. CGST, SGST & IGST
Q. PAN no. is mandatory to apply for GST registration.
Ans. TRUE
Q. What are the Penalty charges for not paying tax or making short payments (genuine
errors)
Ans. 10% of the tax amount due subject to a minimum of Rs. 10, 000
Q. In the pre-GST regime, states mainly collected taxes in the form of Value Added Tax
(VAT). Every state had a different set of rules and regulations.
Ans. TRUE
Q. In soft skills ‘IQ’ stands for?
Ans. Intelligence Quotient
Page 10
CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Employer looks for what skills when they make hiring decision.
Ans. Both A and B
Q. An employee with a high level of emotional intelligence has good communication skills
and interpersonal skills.
Ans. TRUE
Q. Select examples of Soft Skills.
Ans. Both A & C
Q. The ability to be diplomatic and respectful even when there are disagreements is also a
key soft skill.
Ans. TRUE
Q. Following are the attributes of soft skills:
Ans. Both a & c
Q. Choose the correct Factors that influencing Entrepreneurship from the below options:
Ans. Both a & c
Q. Soft skill examples include communication skills, such as voice inflexion and gestures.
Ans. TRUE
Q. improves when workers collaborate by sharing knowledge and tools to get jobs done.
Ans. Punctuality and output
Q. Business Communication is a mutual exchange of understanding, originating with the
receiver. Communication needs to be effective in business
Ans. TRUE
FALSE
Q. Choose the correct basic function of Management in Business Communication.
Ans. Planning
Q. Effective business communication helps in building goodwill of an organization.
Ans. TRUE
Q. Choose the correct option for the types of Business Communication from the below list
Ans. Both A and B
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Choose the correct objective of e-district from the below options.
Ans. D) Both A & C
Q. Bharat BillPay is a Reserve Bank of India (RBI) conceptualized system driven by National
Payments Corporation of India (NPCI).
Ans. TRUE
Q. Bharat BillPay is a one-stop bill payment platform for the bills like?
Ans. Both a & b
Q. __________implements operational, technical and business standards for the entire
system and its participants.
Ans. Bharat Bill Payment Operating Units (BBPOU)
Q. FASTag is an Electronic Toll Collection system in India operated by NHAI.
Ans. TRUE
Q. FASTag is currently operational at more than toll plazas across national and state
highways.
Ans. 425
Q. Entrepreneurs are always looking for new ways of doing things and how they can make
them better. Which trait is being discussed here?
Ans. Creativity
Q. Entrepreneurs effectively sell their product or service to clients and customers. Which
trait is being discussed here?
Ans. Communication Skills
Q. Entrepreneurs don’t let uncertainty and potential failure stop them from doing what
needs to be done. Which trait is being discussed here?
Ans. Risk-Taker.
Q. is the ability to evaluate, assimilate and exploit knowledge.
Ans. Assimilative Capacity
Q. Absorptive Capacity comes from prior, related knowledge to be able to make sense of,
recognize the value of, and use new information.
Ans. True
Page 12
CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. …………….is a record of all of a business’ existing assets, liabilities and equity.
Ans. Balance Sheet
Q. What are three financial sheets that used to record and report a business?
Ans. Statement of Cash Flow, Balance Sheet, Profit, and Loss Statement
Q. Balance Sheet is a record of all of a business’ revenues and costs over a certain period of
time, typically, every quarter or every year.
Ans. False
Q. Equity and liabilities come first in a balance sheet, followed by assets.
Ans. True
Q. Select the correct equation
Ans. Total Assets = Total Liabilities + Equity
Q. A business cannot survive for long without
Ans. Cash
Q. Geeta has a grocery shop; the customers have already paid Rs 5,000 to her. Geeta
decided to pay her supplier Rs.2000 at the end of the week. According to Accrual Basis
calculate her Profit?
Ans. 0
Q. A successful entrepreneur can become rich very fast.
Ans. True
Q. All people who start up a business based on a new idea are always successful.
Ans. False
Q. 92 % of the startups are successful within the first 3 years of starting?
Ans. False
Q. Starting up a new venture with a new idea is called entrepreneurship.
Ans. True
Q. Entrepreneurship is an opportunity to create wealth
Ans. True
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Accountants worldwide use the triple-entry system to record transactions.
Ans. True
Q. Transactions are entered into the general journal in chronological order.
Ans. True
Q. …………….is a record of all of a business’ existing assets, liabilities and equity.
Ans. Balance Sheet
Q. What is the primary objective of a business?
Ans. Make money for investors by providing goods or services
Q. What are the key inputs of business?
Ans. All of the above
Question3: What is the output of the business?
Ans. Both of the above
Q. What are the different forms of business?
Ans. Sole proprietorship, Partnership, Corporations
Q. What is a Sole proprietorship?
Ans. A single owner who is also usually responsible for the day-to-day running of the
business
Q. ………. has multiple owners or partners, some of whom are also usually responsible for the
day-to-day running of the business.
Ans. Partnership
Q. What is a corporation?
Ans. Multiple owners or partners, some of whom are also usually responsible for the day-to-
day running of the business
Q. Identify a non-example of accounting? How much value in rupees of goods or services
has the business sold
Ans. List and details of favorite customers
Q. What is the advantage of adopting a value perspective?
Ans. All of the above.
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CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. According to the Value Framework for Entrepreneurs, select the best statement below.
Ans. Value Creation → Value Delivery → Value Capture.
Q. Upfront capital and R& D requirement costs should be high while evaluating whether an
idea is an opportunity or not.
Ans. False
Q. Non-current assets include………………… which typically last for more than one year.
Ans. plant, property and equipment
Q. What are the common types of current assets?
Ans. Cash, Inventories, Receivables, Short-term loans and advances
Q. Why is a customer purchasing from a particular store?
Ans. Because the customer values the product or service the shop provides.
Q. …is about planning for the uncertain future and deciding what kind of investments should
the business make.
Ans. Finance
Q. Lis a way for a business to raise capital but there is no obligation to repay entities that
provide capital. Instead, entities are given ownership of the business.
Ans. Equity
Q. Balance Sheet divided into 2 parts
Ans. Assests & Liabilities
Q. sheet represents the financial position of a business as of a particular date, typically at
the end of a quarter or financial year.
Ans. Balance sheet
Q. Inventories is the value of raw materials held, work-inprocess and finished good held by
the business.
Ans. True
Q. Both assets and liabilities are classified as current and non-current.
Ans. True
Q. ………………are those assets that are expected to be sold or converted to cash or
consumed within one year.
Ans. Current Assets
Page 15
CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Any income or profit not paid out to shareholders is Called………………………………
Ans. Retained earnings
Q. is also called income statement.
Ans. Profit and Loss Statement.
Q. A trusted adviser promotes a product aggressively to the customer
Ans. True
Q. How to become a trusted adviser?
Ans. Both are correct.
Q. Service promise is the assurance given to the customer about in time delivery of
assured………………… and…………….of product.
Ans. Quantity and Quality
Q. Delivering what customer wants is one of the constituents of a service promise.
Ans. True
Q. Why should we identify customer needs?
Ans. Both are correct.
Q. The innovation of products based on customer needs is value for the business.
Ans. True
Q. Active Listening is one of the client reactions to a typical sales pitch
Ans. True
Q. Select the correct structures of a good sales pitch?
Ans. Hook and Objective.
Q. Hearing is the same as listening.
Ans. False
Q. Listening for enjoyment is called as
Ans. Appreciative Listening
Page 16
CSC TEC EXAM QUESTION ANSWER KEY 2021
Q. Why is a customer purchasing from a particular store?
Ans. Because the customer values the product or service the shop provides
Q. Value is what the shop/store provides to the customer. (like services of a shop or
features of a product)
Ans. True
Q. Select the correct statement.
Ans. Value is customer defined.
Q. Select the correct statement.
Ans. Value depends on the features or services consumed by the customer.
Q. Where does the value reside?
Ans. In the customer’s mind.
Q. Value can be defined in terms of…………………..perspective as well as based
on…………………..
Ans. Customer, price
Q. ………………………..everyone competes on price as no one is exploring how they are able to
differently adding value to customer..
Ans. Commoditization
Q. Which of these is example of entrepreneurship?
Ans. Starting up a business based on an old idea, existing business module, and less risk.
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