CA foundation ch 1

The possibilities of inadequate profits or even losses due to uncertainties are known as

• Business Contingencies

• Business Risks

• Business Ventures

• Business Activity

Name two broad categories of business activities

• Trade and Commerce

• Trade and Industry

• Industry and Commerce

• None of these

Commerce includes activities relating to trade and ______ to trade

• Supporting

• Subsidiaries

• Auxiliaries

• Assistance

Earning of profit is considered to be the subsidiary objective of the business.

• True

• False

Transfer of interest exists in case of ______

• Profession

• Employment

• Business

• None of these

Which of the following is not a part of non-economic activity?

• Patriotism

• Teaching

• Sentiment

• Sympathy

Rendering of personalized expert service is a part of _____

• Business

• Profession

• Employment

• Global Firms

The main purpose of economic activities is ______

• To earn less profit

• To provide free services

• To earn more and more profit

• To avoid loss

Which of the following is an economic activity?

• Social activities

• Patriotic activities

• Profession

• Religious activities

Which of the following is not a characteristic of business?

• economic activity

• regularity of dealing

• creation of utilities

• certainty of return