Tag: elements of business

Quizzes (65) Questions (802)

Questions Related to elements of business

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

Which of the following occupations involve maximum risk?

  1. Employment

  2. Business

  3. Profession

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

Business involves maximum risk as it has some external and internal environment factors which are not in the control of business and creates various types of business risks. Employment, profession and teaching does not not involves as they get fixed remuneration.

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

Which of the following is not a business activity?

  1. A housewife selling old newspapers

  2. A person selling vegetables in your locality

  3. A teacher teaching his daughter at home

  4. A painter painting houses of others
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A business activity involves regular economic production or exchange of goods and services for profit. Teaching one's own daughter at home is a non-business personal service and lacks commercial intent.

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

White-collar workers are _________.

  1. Working on machines and engaged in loading, unloading

  2. Clerical employees

  3. Mining labourers

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

White collar refers to employees whose job entails largely on clerical work such as in a office. It refers to the job of officials who performs managerial or professional work for the organisation and get a fixed salary as remuneration at the end of each month.

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

Which of the following professional degree is given by a private institute?

  1. Chartered Accountant

  2. Cost Accountant

  3. Chartered Secretary

  4. Chartered Financial Analyst
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals.

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

Blue-collar workers are ________.

  1. working on machines and engaged in loading, unloading

  2. clerical employees

  3. executive employees

  4. contract employees
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The blue collar refers to a type of employment. Blue collar jobs are typically classified as involving manual labour and compensation by an hourly wage. Some fields that fall into this category include construction, manufacturing, maintenance and mining.

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

Which of the following can be classified as "internal forces"?

  1. Economic forces

  2. Changes in employee attitudes, feelings and aspirations

  3. Political forces

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

Internal forces for organizational change originate from within the organization, such as changes in employee attitudes, management strategies, or internal processes. Economic and political forces are external.

Multiple choice elements of business partnership 1 - meaning, definition, characteristics and kinds types of partnership types of partnerships dissolution of partnership

Date of compulsory dissolution for Partnership firm is the ________.

  1. date of order of court

  2. date of applying for court

  3. date when firm closes its business

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Compulsory dissolution occurs by court order, and the date of the order is the effective date of dissolution.

Multiple choice elements of business partnership 1 - meaning, definition, characteristics and kinds types of partnership types of partnerships dissolution of partnership

When firm is compulsory dissolved?

  1. All the partners are insolvent.

  2. Firms business become unlawful.

  3. All but not one become insolvent.

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

Compulsory dissolution occurs when the business becomes unlawful or when all partners (or all but one) become insolvent.