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WorksheetsCA FOUNDATION BCK CHAPTER 1
Total questions: 25
Worksheet time: 13mins
Name
Class
Date
1.
Non-economic activities do not include
a)
Affection & love for family
b)
Passion about some hobby
c)
Emotional Reasons
d)
Livelihood Motive
2.
Business which does not enjoy a separate entity status
a)
Sole proprietorship
b)
Hindu undivided family
c)
Partnership
d)
Company
3.
Maximum number of member in a Private company
a)
50
b)
100
c)
150
d)
200
4.
LLP makes a hybrid form of business organization ie containing the features of both
a)
The Corporate forms as well as HUF form
b)
The Corporate forms as well as partnership form
c)
The Corporate forms only
d)
None of the Above
5.
NGOs stands for
a)
Non-Good organization
b)
Non-Government Organization
c)
Non-Great Organization
d)
Non-Government Origin
6.
The maximum partners can be in a partnership business
a)
10
b)
50
c)
15
d)
No Limit
7.
Which of the following a features of Joint stock company
a)
Perpetual succession even all its members die
b)
Jointstock company has a separate legal entity
c)
Public Limited company has no limit of membership
d)
all of the above
8.
Non-Economic activities are driven by
a)
emotional
b)
sentimental reasons
c)
altruism
d)
all of the above
9.
Income earned by letting out property is called
a)
interest earning
b)
earned income
c)
property income
d)
none of these
10.
Unspent income comprises
a)
investment
b)
wealith
c)
saving
d)
none of these
11.
In broader perspective business may be defined as spectrum of
a)
production
b)
distribution
c)
trading of goods and services
d)
all of the above
12.
___________is a contract of service between to employee and employer
a)
employment
b)
professional
c)
independent
d)
none
13.
______is rendering of service of a specialised nature with prescribed qualification for a fee
a)
enplovment
b)
professional
c)
independent
d)
none
14.
Mode of establishment "membership of a professional body"
a)
employment
b)
professional
c)
business
d)
none
15.
Source of livelihood "wages and salaries'
a)
employment
b)
professional
c)
business
d)
none
16.
No prescribed qualification is required
a)
employment
b)
professional
c)
business
d)
none
17.
"Substantial investment is required"
a)
employment
b)
professional
c)
business
d)
none
18.
"Certainty of income"
a)
employment
b)
professional
c)
business
d)
none
19.
"Transfer of interest/succession is possible"
a)
employment
b)
professional
c)
business
d)
none
20.
"It is the value of goods and services produced in the a country during a particular period"
a)
GNP
b)
GDP
c)
economic
d)
growth
21.
Autonomy of being one's own boss:-
a)
Sole proprietorship
b)
HUF
c)
Partnership
d)
LLP
22.
Minimum members 2 and maximum 200
a)
sole proprietorship
b)
Private company,
c)
Public company
d)
LLP
23.
___________is an agreement and not contract
a)
Sole proprietorship
b)
HUF
c)
Partnership
d)
LLP
24.
The family members are the automatic co-owners (called coparceners) by birth
a)
Sole proprietorship
b)
HUF
c)
Partnership
d)
LLP
25.
HUF cannot comprise members of a
a)
Hindu & Sikh family
b)
Parsi family
c)
Buddhist family
d)
Muslim family
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