11TH COMMERCE FORMATIVE TEST 1

People who are part owners of a company are known as...

• Stakeholders

• Shareholders

• Customers

• People

Someone who starts, operates and assumes the risk of a business is known as an...

• Investor

• Interest person

• Entrepreneur

• Business inventor

A business that is owned and operated by a single person is known as a...

• Partnership

• Sole trader

• Private company

• Public company

An entrepreneur is someone who:

• is an employee of a business enterprise
• takes the risk of starting and managing a business venture
• works for the government to provide public services
• just provides capital to a business start-up.

Economic Activities =

• Business + Profession

• Business + Employment

• Business + Employment

• Business + Profession + Employment

Name the two broad categories of business activities.

•  Trade and commerce 
•  trade and industry 
• industry and commerce
• none of these

__ is a sector that involves firms that supply a service to consumers and other businesses.

Give an example of businesses within the primary sector.

Private sector Enterprises , Public Sector Enterprises and Joint Sector Enterprises are classification of commercial organisation on the basis of _________

• Motive

• Ownership

• Registration

• None of these

Public Sector Enterprises are owned by ?

• Central Government

• State Government

• Village Panchayats

• Both A and B