Business studies class XI Quiz-2

Although it is difficult to measure the end of ethical programs, the firm can audit to monitor compliance with ethical standard. which element of Business ethics is related to the statement?

• Establishment of compliance mechanism

• Measuring results

• Involving employees at all levels

• Top management commitments

MNCs are able to conform to international standards and quality specifications mainly because of their

• Marketing strategies

• Advanced technology

• Huge capital resources

• Facilities

'Go Max' is a large retail showroom having a number of departments under one roof, each department specialising in one line of product such as electronics, clothing, home decor, cosmetics, etc. Each of the department is like a separate shop with centralised purchasing, selling and accounting, each run by departmental manager. What type of business is 'GO Max' is dealing?

• Departmental Stores

• Chain stores

• Retail stores

• None of the above

The maximum number of members in a partnership business is

• 7

• 20

• 10

• 50

Mr. Shenoy wanted to start a business of supplying readymade garments. But he was wondering about how much profit or return on investment he would be able to earn? Which characteristic of business is reflected by this situation.

• Economic activity

• Profit earning

• Uncertainty of return

• Element of risk

Disinvestments of PSEs implies

• Sale of equity shares to public

• Inviting in new areas

• Buying shares of PSEs

• Closing down private sector

your father has an old scooter and you want to replace it with a new scooter. Your father is not ready to sell old scooter because he thinks will not get good price for it and he cannot aford a new one. You found a buyer for scooter at OLX who was ready to buy at at a good price so you finally sold the old scooter. Which type of e-commerce did you use?

• B2B

• B2C

• B2E

• C2C

The main objective of business is

• To develop Managers

• earning Profit

• innovation

• Social Responsibility

Which among the following is not a characterstic of a business activity

• production and procurement of goods and services

• sale or exchange of goods and services

• donation of a percentage of profit for charity

• uncertainty of returns

Assertion (A): The managing committee elected by members of the cooperative society is generally not professionally equipped to handle the management functions effectively.

Reason (R): A cooperative society is unable to employ experts because of its inability to pay them high salaries.

• Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

• Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).

• Assertion (A) is true but Reason (R) is false.

• Assertion (A) is false but Reason (R) is true.