Tag: fundamentals of business activities

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Questions Related to fundamentals of business activities

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

State the following statement is True or False:

A director must acquire qualification shares within three months from the date of being appointed as a director in a company.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

This statement is False, due to the following reasons:

(i) The directors occupy a very important position in the company management.
(ii) They are elected representatives of the shareholder.
(iii) Directors are responsible for decision making , policy farming  and determination of plans.
(iv) Directions exercise their powers and authorities collectively as a' Board'.
(v) Under Section 270 of the Companies Act 1956, every person  who desire to become a director of the company must purchase qualification shares within a period of 2 months from the date of his appointed.
(vi) However, the nominal value of such share should not exceed Rs.5,000/- 
(vii) The secretary has to correspond in this connection.
(ix) Whenever a Director is appointed,it is the duty of the Secretary to remind him that he has to purchase the qualification share and inform the company accordingly.
So, the Director has to purchase qualification shares within two months and not three months,from the date of his appointment.

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

What is the second stage of socialisation process?

  1. Metamorphosis stage

  2. Pre-arrival stage

  3. Outcome

  4. Encounter stage
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The socialization process in organizations typically follows three stages: pre-arrival, encounter, and metamorphosis. The encounter stage is the second stage where the employee confronts the reality of the job.

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

Income of a businessman is called ________.

  1. wage

  2. salary

  3. fee

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

A business is an activity of making money by producing and buying and selling products. It is an entity which is established for earning profit which is the basic motive. Thus the income of the businessman is called profit.

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

____ Sector Skill Councils (SSG) approved in services, manufacturing, agriculture & allied services, and informal sectors. Sectors include 19 of 20 high priority sectors identified by the Government and _ of the sectors under Make in India initiative.

  1. 38; 25

  2. 83; 52

  3. 33; 22

  4. 22; 33
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Sector Skill Councils (SSC) framework in India has been established to cover various sectors, with 38 councils approved and 25 of those falling under the Make in India initiative.

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

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.