WorksheetsBUSINESS ORGANISATION
Total questions: 10
Worksheet time: 5mins
1.Which of the following is not a feature of business?
a) Profit motive
b) Government ownership
c) Risk and Uncertainty
d) Economic activity
2.What is the significance of the development stages of a business?
a) To determine the number of competitors
b) To assess the environmental impact
c) To understand the challenges and opportunities at different phases
d) To calculate the tax liabilities
3.What is the primary difference between industry and commerce?
a) Industry involves manufacturing, while commerce involves buying and selling of goods and services.
b) Industry is a government sector, while commerce is a private sector.
c) Industry is limited to physical products, while commerce deals with intangible services.
d) Industry focuses on imports, while commerce focuses on exports.
4. What is one of the primary objectives of business organization?
a) Environmental conservation
b) Charitable donations
c) Maximizing shareholder wealth
d) Promoting political agendas
5.What is a modern business characteristic that emphasizes the use of advanced technology?
a) Traditional approach
b) Small-scale operations
c) Innovation and technology adoption
d) Manual labor-intensive
6.Business is solely concerned with the production of goods.
A. True
B. False
7.Business plays a significant role in economic development by generating employment opportunities.
A. True
B. FALSE
8.The terms "industry" and "commerce" can be used interchangeably with "business."
A. False
B. True
9.Business organizations exist solely for their own profit and do not consider societal well-being.
A. True
B. False
10.One of the characteristics of a business organization is limited liability for its owners.
A. True
B. False
