Business Services Test

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Business Services Test - 13

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Weekly Quiz Competition

Question 1
1 / -0

For an enterprise in service sector to come under the preview of micro enterprise the total investment in plant and machinery should not be more than __________.

A
Rs. 25 lakhs

B
Rs. 20 lakhs

C
Rs. 50 lakhs

D
Rs. 10 lakhs

Solution

Micro, Small and Medium enterprises act, 2005 defines the micro, small and medium enterprises on the basis of the investment in the fixed assets. Hence, service sector enterprise to come under the preview of micro enterprise ,the total investment in plant and machinery should not be more than Rs. 10 lakhs.
Question 2
1 / -0

Feature of email packages helps to ______.

A
Highlight

B
Delete

C
Attach

D
Both a & b

Solution

Feature of email packages helps to attach. Any computer based documents can be attached and sent along with the email via electronic transmission. One or more files can be attached with the email.
Question 3
1 / -0

Electronic communication includes all of the following EXCEPT:

A
Internet logs

B
Telephone calls

C
Video-conferencing

D
E-mail

Solution

Electronic communication includes all of the following, like internet logs, video-conferencing, E-mail, except telephone calls. Telephone calls take place through the telephonic network. It is not one of the modes of electronic communication.
Question 4
1 / -0

FAX is an abbreviation of _________.

A
Facsimile

B
Faximile

C
Faxisimile

D
Faxsimilee

Solution

FAX is an abbreviation of Facsimile. It is also known as telescoping or Teletext. FAX is generally defined as one of the modes through which telephonic transmission of printed material can be done. The telephone number is usually connected with any output device, like a printer.Hence, option (A) is the correct answer.
Question 5
1 / -0

Which of the following can be treated as disadvantage of HUF form of business?

A
A HUF business is not affected by the insolvency or death of any member including that of karta.

B
An inefficient karta can do harm to the business.

C
The continuity of business is always under threat. It may be due to a small rift within the family and if a co-parcener asks for a partition the business is closed.

D
Since the karta has absolute freedom to manage the business, there is scope for him to misuse it for his personal gains.

Solution

Despite having various advantages, the HUF form of business has disadvantages as well. One of them could be the misuse of power. Since Karta has absolute freedom to manage the business, there is a scope for him to misuse it for his personal gains. An inefficient Karta can do harm than good to the business.
Hence, option (B) is the correct answer.
Question 6
1 / -0

The abbreviation "AAR' stands for ______________.

A
Annual Average Risk

B
Annual All Return

C
Against All Risks

D
Against Average Risk

Solution

The abbreviation "AAR' stands for Against All Risk. AAR is related to insurance companies. AAR insurance is primarily referred to a health insurance company of Kenya that started its operations in the year of 1984.
Hence, option (C) is the correct answer.
Question 7
1 / -0

The purpose(s) of business that goes beyond earning profits _____________.

A
An important institution in society

B
For the supply of goods and services

C
Creating job opportunities

D
All of above

Solution

Profit making itself shall not be the purpose of business entities. It is running in an environment where a business entity's responsibilities widen. It contributes to the growth of society. It supplies the required goods and services thereby catering to the needs of society. A business entity creates job opportunities for society. Thus, the purpose of a business entity has to be the growth of society by being a profitable enterprise in itself.
Hence, option (D) is the correct answer.
Question 8
1 / -0

One who calculates insurance and annuity premium is known as _____.

A
Investor

B
Insurer

C
Actuary

D
Atheist

Solution

One who calculate insurance and annuity premium is known as actuary. Actuary basically deals with management and measurement of risks and uncertainty. An actuary is often described as an business professional.
Question 9
1 / -0

Banks helps to prepare _________.

A
credit report for company

B
annual report over company

C
status inquiry for company with which they are doing business

D
all of the above

Solution

Banks help to prepare status inquiry for company with which they are doing business. It helps the company to increase the performance of the organization. Status inquiry of the company helps to improve the credibility of the organization.
Question 10
1 / -0

Businesses providing direct services like tailors, restaurants and professional services like doctors, lawyers are generally organized as _____________.

A
Proprietary concern

B
Trust

C
Co-operative society

D
Any of the above

Solution

These businesses are usually run at a smaller scale and hence are organized as proprietary business firms.
Trust can be called a form of business wherein a trustee (an individual or a company) runs the business for the benefit of the beneficiaries.
A cooperative society is a voluntary association of persons, who join together with the motive of welfare of the members.
Hence, option (A) is the correct answer.

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Re-Attempt Weekly Quiz Competition

Business Services Test - 13

Result

Business Services Test - 13

Score

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Rank

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SHARING IS CARING

Question 1

Rs. 25 lakhs

Rs. 20 lakhs

Rs. 50 lakhs

Rs. 10 lakhs

Solution

Question 2

Highlight

Delete

Attach

Both a & b

Solution

Question 3

Internet logs

Telephone calls

Video-conferencing

E-mail

Solution

Question 4

Facsimile

Faximile

Faxisimile

Faxsimilee

Solution

Question 5

A HUF business is not affected by the insolvency or death of any member including that of karta.

An inefficient karta can do harm to the business.

The continuity of business is always under threat. It may be due to a small rift within the family and if a co-parcener asks for a partition the business is closed.

Since the karta has absolute freedom to manage the business, there is scope for him to misuse it for his personal gains.

Solution

Question 6

Annual Average Risk

Annual All Return

Against All Risks

Against Average Risk

Solution

Question 7

An important institution in society

For the supply of goods and services

Creating job opportunities

All of above

Solution

Question 8

Investor

Insurer

Actuary

Atheist

Solution

Question 9

credit report for company

annual report over company

status inquiry for company with which they are doing business

all of the above

Solution

Question 10

Proprietary concern

Trust

Co-operative society

Any of the above

Solution

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