Tag: elements of business

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Questions Related to elements of business

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

Write a word, term or a phrase which can substitute each of the following statements:

A report to be submitted to the Registrar according to Section 165.

  1. Annual report

  2. Statutory report

  3. Trade report

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

According to section 165 of the companies act 1965 the company has to file statutory report to registrar.

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

Select the correct option given below :

The management of a joint stock company is vested in the ____________.

  1. Director

  2. Board of directors

  3. Manager

  4. All of above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In a joint stock company, the management is legally vested in the Board of Directors, who are elected by the shareholders to oversee the company's affairs.

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

Food co-operation of India is _______________.

  1. A joint stock company

  2. Company managed by department

  3. Company established by special act of parliament or state assembly

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Food Corporation of India (FCI) was established by a special act of Parliament (the Food Corporations Act, 1964) to implement food policies of the government, making it a statutory public corporation.

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

Which of the following is/are disadvantage of a company form of organisation?

  1. The formation of a joint stock company is much more complicated than sole proprietorship or partnership.

  2. A joint stock company has greater tax burden.

  3. Separation of ownership from control

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All the listed items are recognized disadvantages of a company form of organization: complex formation, higher tax burden, and the separation of ownership from management.

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

_____________ are formed by small farmers to work jointly and thereby enjoy the benefits of large scale farming.

  1. Co-operative farming societies

  2. Co-operative marketing societies

  3. Co-operative credit societies

  4. Consumers' co-operative societies
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Co-operative farming societies are formed by small farmers to pool their resources, land, and labor to achieve the economies of scale associated with large-scale farming.

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

The company can ___________.

  1. Enter into contracts

  2. Borrow money

  3. Open banking account in its name

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Company is a distinct as well as legal entity and would be liable for his own.

Therefore, a company can borrow money, enter into contracts, open bank account in its name, purchase its own shares.

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

Molasses in sugar industry is an example of ____________.

  1. Joint product

  2. Unique product

  3. By product

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A byproduct is a secondary product derived from a manufacturing process or chemical reaction; it is not the primary product being produced. Molasses is a secondary byproduct obtained during the refining of sugar cane or sugar beets into sugar.

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

The industries which provide support services to other industries are known as ____________.

  1. Primary industries

  2. Secondary industries

  3. Commercial industries

  4. Tertiary industries
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Tertiary industries: These industries provides support to primary and secondary industries . Tertiary industry consits of : banking, transportation warehousing etc services.

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

Business risk is not likely to arise due to _____________.

  1. Change in government policy

  2. Good management

  3. Employee dishonesty

  4. Power failure
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Business risks is the possibility that a company will have lower than anticipated profits in future or even experience a loss . If there is a good management in business there will be no chances of business risks.