1. All those activities whose purpose is to earn profit are called:
(A) Commerce
(B) Business
(C) Education
(D) Management
2. A person who manages or controls the business to earn profit is called:
(A) Professional
(B) Entrepreneur
(C) Laborer
(D) Doctor
3. The basic goal/purpose of a business is:
(A) To earn profit
(B) God’s consent
(C) Buy/Sell goods
(D) None
4. The success of business depends upon:
(A) Administrative & technical activities
(B) All of these
(C) Better means of transportation
(D) Availability of raw material
5. To decide in advance, is called:
(A) Business
(B) Business risk
(C) All
(D) Planning
6. Objectives or goals of planning are:
(A) Determination of staff
(B) All of these
(C) Method of leading
(D) Determination of designation
7. To become a good entrepreneur, one must have:
(A) All of these
(B) Power of decision making
(C) Stability
(D) Ability of planning
8. In small business, number of employees are:
(A) 30
(B) More than 10
(C) 20
(D) Less than 10
9. When we perform job without planning, its results will be:
(A) Effective
(B) Very good
(C) Ineffective
(D) All
10. Short time loans time span is:
(A) Less than 1 year
(B) More than 1 year
(C) 1 to 7 years
(D) 1 to 10 years
11. Loans for business can be obtained from:
(A) Bank
(B) All
(C) By debentures
(D) Credit purchase
12. Due to business risks, business goes towards:
(A) Profit
(B) Success
(C) Failure
(D) All
13. Reason(s) of business risks is/are:
(A) Incapable management
(B) Shortage of raw material
(C) All
(D) Shortage of demand
14. Methods of reducing business risks includes:
(A) Reduction in losses
(B) All
(C) Insurance
(D) Speculation
15. To select place of business, it is necessary to have:
(A) Availability of raw material
(B) Suitable atmosphere
(C) Availability of means of transportation
(D) All
16. In the business, this has a position like blood in the body:
(A) Raw material
(B) Labour
(C) Capital
(D) Industrialist
17. This is a feature of business:
(A) All
(B) To earn Profit
(C) Trend of competition
(D) Need of capital
18. This is included in the economic objectives of a business:
(A) Innovation
(B) All
(C) To create customers
(D) To earn Profit
19. This is included in the social objectives of a business:
(A) Production of quality products
(B) Avoid activities against society
(C) All
(D) To provide employment
20. This is included in the human objectives of a business:
(A) Proper reward to employees
(B) Increase workers ability
(C) All
(D) To provide facilities to workers
21. By planning, efficiency of business and staff will be:
(A) Decreased
(B) Ineffective
(C) Increased
(D) None
22. To obey law is the purpose of business:
(A) Economic
(B) Social
(C) Human
(D) National
23. It includes in the functions of a businessman:
(A) Administrative function
(B) Division of labour function
(C) Financial function
(D) All
24. Medium term loans time period is:
(A) One year
(B) One to fifteen years
(C) One to seven or ten years
(D) One to twenty years
25. Long term loans time period is:
(A) One to five years
(B) One to seven years
(C) More than seven years
(D) All