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Small Business Test - 1

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Small Business Test - 1
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Weekly Quiz Competition
  • Question 1
    1 / -0

    Expand EOUs

    Solution

    Explanation:

    Export Oriented units:- The small scale industry can enjoy the status of an export oriented unit if it exports more than 50 per cent of its production. It can avail the incentives like export subsidies and other concessions offered by the government for exporting units.

     

  • Question 2
    1 / -0

    Limit of investment in small scale industry is _________.

    Solution

    Explanation:

    A small scale industrial undertaking is defined as one in which the investment in fixed assets of plant and machinery does not exceed rupees one crore. However, to cater to the needs of small industries whose thrust is on export promotion and modernisation, investment ceiling in plant and machinery is rupees five crores.

     

  • Question 3
    1 / -0

    Which of the following is organised by individuals?

    Solution

    Explanation:

    Cottage Industries are organised by individuals, with their private resources and normally use family labour and locally available talent.

     

  • Question 4
    1 / -0

    ________ are also known as Rural industries or Traditional industries.

    Solution

    Explanation:

    Cottage Industries are also known as Rural industries or Traditional industries. They are not defined by capital investment criteria as in the case of other small scale industries.

     

  • Question 5
    1 / -0

    Any industry located in a rural area which produces any goods, renders any service with or without the use of power is known as ________

    Solution

    Explanation:

    Village Industry has been defined as any industry located in a rural area which produces any goods, renders any service with or without the use of power and in which the fixed capital investment per head or artisan or worker does not exceed Rs. 50,000 or such other sum as may be specified by the central government, from time to time.

     

  • Question 6
    1 / -0

    Micro enterprises are those whose investment in plant and machinery does not exceed rupees___.

    Solution

    Explanation:

    Within the tiny and small business sector, micro enterprises are those whose investment in plant and machinery does not exceed rupees one lakh.

     

  • Question 7
    1 / -0

    A small scale serivce and business enterprise is one whose investment in fixed assets of plant and machinery excluding land and building does not exceed ______

    Solution

    Explanation:

    Small scale service and business (Industry related) enterprises: A small scale service and business enterprise is one whose investment in fixed assets of plant and machinery excluding land and building does not exceed Rs. 10 lakhs.

     

  • Question 8
    1 / -0

    Small scale industries owned and managed by women entrepreneurs have share capital of not less than __________.

    Solution

    Explanation:

    An enterprise promoted by women entrepreneurs is a small scale industrial unit in which she/they individually or jointly have share capital of not less than 51 per cent. Such units can avail the special concessions offered by the government, like low interest rates on loans, etc.

     

  • Question 9
    1 / -0

    The small scale industry can enjoy the status of _______ unit if it exports more than 50% of its production.

    Solution

    Explanation:

    A small scale industry can enjoy status of export oriented business unit by exporting more than 50 percent of its production. 

     

  • Question 10
    1 / -0

    The small scale industry can enjoy the status of ________ if it supplies not less than 50% of its production to another industry, referred to as the parent unit.

    Solution

    Explanation:

    A small scale industry becomes an ancillary industry to another industry by supplying a minimum of 50 percent of its production to the other industry which is referred as parent unit.

     

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