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Business Studies Quiz 11th (Ch- 1 & 2)

Total questions: 15

Worksheet time: 5mins

Name
Class
Date
1.

Person X is a Charted Accountant and he is working in a firm. What type of Economic activity X is involved in?

a)

Business

b)

Employment

c)

Profession

d)

Both Profession and Employment

2.

Business Risk arises due to

a)

Natural Cause

b)

Economic Cause

c)

Human Cause

d)

All of The Above

3.

A is a doctor who runs a clinic in morning, in evening he goes to Community Centre to treat patients . Which human activity A is involved?

a)

Morning - Job; Evening - Business

b)

Morning - Profession; Evening - Business

c)

Morning - Employment; Evening - Profession

d)

None Of The Above

4.

Business involves dealing in goods and service on a regular and recurring basis.

a)

True

b)

False

5.

There is a firm X, A is a partner in that firm who does not participates in management, but has share in profit. What type of partner in A?

a)

Active Partners

b)

Secret Partners

c)

Sleeping Partners

d)

Partners By estoppel

6.

Profession does not require any minimum qualification.

a)

True

b)

False

7.

A is person who sold his phone for 10,000. After a few months he sold his laptop for 30,000. A is a businessman now.

a)

Yes

b)

No

8.

Which of the following cannot be classified as an objective of business?

a)

Investment

b)

Savings

c)

Growth

d)

Profit Saving

9.

Persons A, B & C are in a partnership, but only A has unlimited liability. Which type of the partnership are A, B & C in?

a)

General Partnership

b)

Particular Partnership

c)

Limited Partnership

d)

Both Particular and Limited Partnerships

10.

Minimum number of members to form a private company is

a)

2

b)

3

c)

5

d)

7

11.

C is a person who is now a Chartered Accountant. To practice as a CA he needs to become a member of which professional association?

a)

Institute of Cost Accountants of India

b)

Institute of Charted Accountants of India

c)

Association of Charted Accountants of India

d)

Council of Cost Accountants of India

12.

Death of Sole Proprietorship will bring the business to and end.

a)

True

b)

False

13.

Persons α, β & γ are in a partnership for three years. If α dies, what will happen to the partnership?

a)

Partnership gets dissolved

b)

β & γ, will continue partnership

c)

Nothing will happen

d)

None Of The Above

14.

In which type of company there is no restriction on the transfer of shares ?

a)

One Person Company

b)

Public Company

c)

Private Company

d)

All Of The Above

15.

Members of the Board of Directors of a joint stock company is elected by

a)

General Public

b)

Government Organization

c)

Shareholders

d)

Employees