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WorksheetsNATURE AND PURPOSE OF BUSINESS
Total questions: 10
Worksheet time: 4mins
Name
Class
Date
1.
The possibilities of inadequate profits or even losses due to uncertainties are known as _______
a)
Business contingencies
b)
Business risks
c)
Business ventures
d)
None of these
2.
Which one of the following may not be a factor behind starting a business?
a)
Routine workload
b)
size of the firm
c)
finance
d)
location of the business
3.
Name the two broad categories of business activities.
a)
Trade and commerce
b)
trade and industry
c)
industry and commerce
d)
none of these
4.
Commerce includes activities relating to trade and ____________
a)
Supporting
b)
subsidiaries
c)
auxiliaries to trade
d)
none of these
5.
'Earning of profit is considered to be the subsidiary objective of the business.' The given statement is
a)
True
b)
false
c)
cannot say
d)
on
6.
Following are the characteristics of business risks. One of then is not correct. Please identify it.
a)
Loss is the reward for risk bearing
b)
Business risks are due to uncertainties
c)
Risk is an essential component of every business
d)
Degree of risk depends mainly upon the nature and size of business
7.
Transfer of interest exists in the case of
a)
Profession
b)
employment
c)
business
d)
none of these
8.
Which of the following is not an example of non-economic activity?
a)
Patriotism
b)
teaching
c)
sentiment
d)
sympathy
9.
Which of the following is not a type of external trade-
a)
export
b)
import
c)
entrepot
d)
retail
10.
Human activities are of ____________ types
a)
one
b)
two
c)
three
d)
four
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