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Business, Trade and Commerce Test 10

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Business, Trade and Commerce Test 10
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Weekly Quiz Competition
  • Question 1
    1 / -0
    The purposes of business that goes beyond earning profits___________.
    Solution
    The main purpose of the business is to earn profit apart from that there are various purposes of business which includes offering better quality of life to the customers, contributing to the economic growth of the country and creating job opportunities.
  • Question 2
    1 / -0
    Management qualifies all the tests of profession except __________.
  • Question 3
    1 / -0
    It is uncommon that a professional manager may ____________.
  • Question 4
    1 / -0
    Objectives of business organization can be - 
    1.Short term or long term
    2. Tangible or intangible
    3. General or specific
    Select the correct answer from the options given below-
    Solution
    Objectives of business organization can be - 
    1. Short term or long-term
    2. Tangible or intangible
    3.  General or specific Profitability. 
    4. Productivity. 
    5. Customer Service. 
    6. Employee Retention.
    7. Core Values. 
    8. Growth. 
    9. Maintain Financing. 
    10. Change Management.
  • Question 5
    1 / -0
    Which of the following can be treated as characteristics of business organisation?
    Solution
    A business organisation is a person or a group of people working together in pursuit of the same commercial interest. To do this effectively you must decide what type of business organisation suits your needs. The main characteristics of business organisation is that a business firm may be owned by one individual or a group of individuals jointly. 
  • Question 6
    1 / -0
    _________ in any organization must have characteristics like skills, quality, high morale, commitment towards the work, attitude, etc.
    Solution
    Human resource are the people who make up the work force of an organisation. They must have characteristics like skills, quality, high morale, commitment towards the work, attitude etc which are essentials for reaching the organisational goals.
  • Question 7
    1 / -0
    A business enterprise may be organised on the basis of ___ liability.
    Solution
    An unlimited liability business involves joint owners that are equally responsible for debt and liabilities accrued by the business, this liability is not capped and can be paid off through the seizure of owners' personal assets, making it different from limited liability ventures.
  • Question 8
    1 / -0
    Which of the following is a variant of the sample survey method?
    Solution
    All three options are methods of collecting samples for a survey.

    The test market method: It conducts live experiments (surveys) with random subjects to stimulate the actual market mix so as to judge the actual reactions from the customers about the product.

    The Experts Opinion Poll: This method constructs a sample of experts on the matter of the survey. Thus the members of the sample space are limited to experts on the subject matter. 

    The Delphi Technique: The sample space again consists of experts who answer a questionnaire in two rounds. 
  • Question 9
    1 / -0
    _______ is a prediction or estimation of future values of a variable like sales, demand, price, profits etc.
    Solution
    Forecasting refers to predicting the imputed values of various economic variables like demand, supply etc. to develop premises for the economic plans for smooth conduct of production in the economy according to the plans that aims at achieving growth and development of the economy.  
  • Question 10
    1 / -0
    ______ is an extension of time reversal test to the case of more than two periods.
    Solution
    Circular test refers to one statistical tool where the index of the later period on the earlier period is exactly opposite to the index of the earlier period on the later period, but this test is validate where the more than two periods are involved.
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