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Fundamentals of Business Activities Test 4

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Fundamentals of Business Activities Test 4
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which one of the following may not be a factor behind starting a business?
    Solution
    Starting a business involves many factors such as availability of man power, raw material, location, finance, etc. Routine workload is not considered while starting a business. It is a factor that comes after the business is started. Hence, it is not a factor considered behind starting a business.
  • Question 2
    1 / -0
    Industrial Democracy means ___________________.
    Solution

    Industrial democracy is an arrangement which involves workers making decisions, sharing responsibility and authority in the workplace. Industrial relations or employment relations is the multidisciplinary academic field that studies the employment relationship; that is, the complex interrelations between employers and employees, labor/trade unions, employer organizations and the state.

  • Question 3
    1 / -0
    Transfer of interest exists in the case of _______.
    Solution
    A member might want to transfer all his interests to another person if he wants to leave the business, or he can transfer some of his interests for financial purposes or personal reasons. All owners, or members, of a limited liability company have a percentage of ownership of the business, referred to as interest.
  • Question 4
    1 / -0
    Name the two broad categories of business activities.
    Solution
    Business activities basically mean those activities which are carried out for making profit. Industry activities are nothing but transforming raw materials into the finished goods. Commerce is nothing but the trade of goods and services. Business activities have two broad categories viz. industry and commerce. These two categories comprise of all the business activities.
  • Question 5
    1 / -0
    Business activities are of ____________ types.
    Solution
    The business activity are of two types :
    1. Industry :
    a) Primary industry
    b) Secondary industry
    c) Tertiary industry
    2. Commerce :
    a) Trade 
    b) Auxillaries of trade.
  • Question 6
    1 / -0
    The enumerators work under a _________.
    Solution
    Enumerators are those persons who gather information by conducting a survey and they report to their higher authorities, who are known as Supervisors.
  • Question 7
    1 / -0
    Commerce includes activities relating to trade and ___________ to trade.
    Solution
    Ancillaries to trade are those activities which facilitate smooth functioning of business. Insurance, transport, warehousing and advertising are regarded ancillaries to trade. Hence, we can say that commerce includes activities relating to trade and ancillaries to trade.
  • Question 8
    1 / -0
    "Pastoral State" is mainly characterized by _____________________.
  • Question 9
    1 / -0
    Economic activities may be classified into business, ___________ and employment.
    Solution
    Profession is a type of paid occupation which involves training, utilization of skills for a prolonged period. Business, profession and employment all are considered economic activities because they consist of exchange of goods and/or services for money.
  • Question 10
    1 / -0
    Discounted cash flow criteria for investment appraisal does not include ___________________.
    Solution

    There are different methods adopted for capital budgeting. The traditional methods or non discount methods include: Payback period and Accounting rate of return method. The discounted cash flow method includes the NPV method, profitability index method and IRR. Discounted cash flow (DCF) is a valuation method used to estimate the value of an investment based on its future cash flows. DCF analysis attempts to figure out the value of an investment today, based on projections of how much money it will generate in the future.

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