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Small Business Test - 2

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Small Business Test - 2
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Weekly Quiz Competition
  • Question 1
    1 / -0

    In India, the Village and Small Industries Sector consists of both traditional and modern small industries. This sector has ___________subgroups

    Solution

    The village and small industries (VSI) sector comprises both traditional and modern small industries; it is constituted by eight specific groups viz. Handloom, Handicrafts, Coir, Sericulture, Khadi, Village Industries, Small-Scale Industries and Power looms. The last two items constitute the modern group of industries, the others being traditional.

  • Question 2
    1 / -0

    A tiny unit is defined as an industrial or business enterprise whose investment in plant and machinery is not more than ___________.

    Solution

    The ancillary small industrial unit can manufacture parts, components, sub-assemblies, tools or intermediate products for the parent unit. A tiny unit is defined as an industrial or business enterprise whose investment in plant and machinery is not more than Rs. 25 Lakhs.

  • Question 3
    1 / -0

    Which of the following is part of Village and Small Industries Sector?

    Solution

    The village and small industries (VSI) sector consists broadly of (i) traditional industries (viz. handlooms, khadi and village industries, sericulture, handicrafts and coir) and (ii) modern small scale industries including 'tiny' units and power looms.

  • Question 4
    1 / -0

    Which of the following comes under the Modern Small Industries?

    Solution

    The village and small industries (VSI) sector consists broadly of (i) traditional industries (viz. handlooms, khadi and village industries, sericulture, handicrafts and coir) and (ii) modern small scale industries including 'tiny' units and power looms.

  • Question 5
    1 / -0

    _____ is defined as one in which the investment in fixed assets of plant and machinery does not exceed rupees one crore.

    Solution

    Small Scale Industry is the industrial undertakings having fixed investment in plant and machinery, whether held on ownership basis or lease basis or hire purchase basis not exceeding Rs. 1 crore.

  • Question 6
    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

    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.

  • Question 7
    1 / -0

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

    Solution

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

  • Question 8
    1 / -0

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

    Solution

    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

    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

    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 10
    1 / -0

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

    Solution

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

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