Evolution and Fundamentals of Business Quiz-3

Evolution and Fundamentals of Business Quiz-3

Quiz

 

1. Which of the following is not a characteristic of business?
   1.   Production
   2.   Exchange or sale
   3.   Wages or salaries
   4.   Risk element
2. The amount of loss or damage and compensation for injury can be recovered by using which auxiliary to trade
   1.   Advertising
   2.   Premium
   3.   Insurance
   4.   Policy
3. Which of the following cannot be classified as an objective of business-
   1.   Investment
   2.   Discovery
   3.   Productivity
   4.   Profit earning
4. The best example of analytical industry is-
   1.   Cement
   2.   Computer
   3.   Sugar mill
   4.   Oil refinery
5. Identify the activity which is not an auxiliary to trade?
   1.   Banking
   2.   Warehousing
   3.   Insurance
   4.   Mining
6. Mr. Y told Mr. T that for business we need physical resources. Identify the physical resources given below-
   1.   Bank
   2.   Warehouse
   3.   Plant & machinery
   4.   None of these
7. Which of the following is the best definition of business?
   1.   A business is an organization that provides goods or services to consumers or other businesses.
   2.   A business is an enterprise that engages in commercial activity.
   3.   A business is a venture that is undertaken to make a profit.
   4.   All of the above
8. Support services to industrial \business activities are clubbed under?
   1.   Commercial industries
   2.   Primary industries
   3.   Secondary industries
   4.   Tertiary industries
9. Which of the following is not an example of a pure risk?
   1.   Fire
   2.   Earthquake
   3.   Theft
   4.   Profit
10. Which of the following is not an example of non-economic activity?
    
    1.   Patriotism
    2.   Teaching
    3.   Sentiment
    4.   Sympathy
11. The possibilities of inadequate profits or even losses due to uncertainties are known as ______
    1.   Business contingencies
    2.   Business risks
    3.   Business ventures
    4.   None of these
12. Name the two broad categories of business activities.
    
    1.   Trade and Commerce
    2.   Trade and Industry
    3.   Industry and Commerce
    4.   None of these
13. 'Earning of profit is considered to be the subsidiary objective of the business.' The given statement is-
    1.   True
    2.   False
    3.   Cannot says
    4.   None of these
14. Mr X started business of buying and selling of refrigerators. The term for this type of business activity is-
    1.   Commerce
    2.   Trade
    3.   Selling
    4.   Transaction
15. Activites which are meant for assisting trade are known as
    
    1.   Trade
    2.   Trade assistance
    3.   Auxiliaries to trade
    4.   None of these
16. Recognise the assembling industry out of these-
    
    1.   Poultry, cattle farms
    2.   Cement, brick
    3.   Sugar, cotton
    4.   Television, computer
17. Why should a business earn profit?
    
    1.   To provide return to investors.
    2.   To provide funds for future growth.
    3.   To increase the reputation of business.
    4.   All the above
18. Transfer of interest exists in the case of
    1.   Profession
    2.   Employment
    3.   Business
    4.   None of these
19. Mechanical failures, political disturbances and other unforeseen events are-
    1.   Natural causes
    2.   Economic causes
    3.   Human causes
    4.   Other causes
20. Which of the following is not an economic activity?
    1.   Production
    2.   Trading in goods
    3.   Professional
    4.   Social service