Mix Test 1

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Mix Test 1

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SHARING IS CARING

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Weekly Quiz Competition

Question 1
1 / -0

Ethics is important for

A
Non-managerial employees

B
Middle-level managers

C
Top management

D
All of these

Solution

Explanation:

Ethical business improves goodwill, people's confidence and trust. Such business has helping attitude towards needy, caring for society and environment. Thus stakeholders get benefits of adopting ethics in business.
Question 2
1 / -0

Which of the following is capable of doing maximum good to society?

A
Business success

B
Professional management

C
Laws and regulations

D
Ethics

Solution

Explanation:

Ethics means the ideals which one follows in life. These are the principles that defines what is right and what is wrong in human behaviour from the point of view of public welfare. Ethics can be related with various fields like law, business, medical etc.
Question 3
1 / -0

Which one of the following is not amongst India's major export items?

A
Textiles and garments

B
Oil and petroleum products are not amongst India's major export items.

C
Basmati rice

D
Gems and jewellery

Solution

Explanation:

Oil and petroleum products
Question 4
1 / -0

Which one of the following modes of entry permits greatest degree of control over overseas operations?

A
Contract manufacturing

B
Joint venture

C
Wholly owned subsidiary

D
Licensing/franching

Solution

Explanation:

The parent company acquires complete control over the foreign company by making 100% investment in the firm and making it wholly owned subsidiary.
Question 5
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 ______

A
Rs.10 Lakhs

B
Rs.15 Lakhs

C
Rs.30 Lakhs

D
Rs.25 Lakhs

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 6
1 / -0

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

A
20 percent

B
25 percent

C
50 percent

D
51 percent

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 7
1 / -0

The maturity period of a commercial paper usually ranges from

A
20 to 40 days

B
120 to 365 days

C
60 to 90 days

D
90 to 364 days

Solution

Explanation:

The RBI regulates commercial papers. CP is a source of short term finance. The maturity period of CP ranges from 90 days to 364 days.
Question 8
1 / -0

Under the lease agreement, the lessee gets the right to

A
Share profits earned by the lessor

B
Participate in the management of the organisation

C
Sell the assets

D
Use the asset for a specified period

Solution

Explanation:

Lease is an agreement between two parties i.e. Lessor and Lessee for the use of asset in return of periodic payment and for a specified period.
Question 9
1 / -0

Which of the following can be considered as an economic activity?

A
All of these

B
Employment

C
Profession

D
Business

Solution

Explanation:

Economic activities are related to production, distribution, exchange and consumption of goods and services. Since Business, Profession and Employment are activities carried out to earn one's livelihood, they are all called Economic activities.
Question 10
1 / -0

Which of the following is not a characteristic of business?

A
Entrepreneurship

B
Regularity of dealing

C
Creation of utilities

D
Non economic activities

Solution

Explanation:

Business refers purchase and sales of goods with objective of earning profit. Business activity is an economic activity because it is related with money. Business is an economic activity.

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Re-Attempt Weekly Quiz Competition

Mix Test 1

Result

Mix Test 1

Score

-

Rank

-

SHARING IS CARING

Question 1

Non-managerial employees

Middle-level managers

Top management

All of these

Solution

Question 2

Business success

Professional management

Laws and regulations

Ethics

Solution

Question 3

Textiles and garments

Oil and petroleum products are not amongst India's major export items.

Basmati rice

Gems and jewellery

Solution

Question 4

Contract manufacturing

Joint venture

Wholly owned subsidiary

Licensing/franching

Solution

Question 5

Rs.10 Lakhs

Rs.15 Lakhs

Rs.30 Lakhs

Rs.25 Lakhs

Solution

Question 6

20 percent

25 percent

50 percent

51 percent

Solution

Question 7

20 to 40 days

120 to 365 days

60 to 90 days

90 to 364 days

Solution

Question 8

Share profits earned by the lessor

Participate in the management of the organisation

Sell the assets

Use the asset for a specified period

Solution

Question 9

All of these

Employment

Profession

Business

Solution

Question 10

Entrepreneurship

Regularity of dealing

Creation of utilities

Non economic activities

Solution

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