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Business Characteristics Quiz

Total questions: 25

Worksheet time: 13mins

Name
Class
Date
1.

Which of the following is not a characteristic of business?

a)

Economic activity

b)

Involves risk

c)

Legal activity

d)

Social work

2.

The industry concerned with extraction of natural resources is:

a)

Manufacturing industry

b)

Genetic industry

c)

Extractive industry

d)

Construction industry

3.

Which one of the following is not a business activity?

a)

A teacher teaching in school

b)

A doctor running his clinic

c)

A shopkeeper selling goods

d)

A farmer selling his produce

4.

The industry which provides support services to other industries is known as:

a)

Primary

b)

Secondary

c)

Tertiary

d)

Manufacturing

5.

The basic purpose of a business is:

a)

Service

b)

Employment

c)

Earning profits

d)

Welfare

6.

Which form of business organisation is owned and managed by a single person?

a)

Partnership

b)

Joint Hindu Family

c)

Sole Proprietorship

d)

Co-operative society

7.

Minimum number of members in a public company is:

a)

2

b)

7

c)

3

d)

5

8.

Which one of the following has a separate legal entity?

a)

Sole proprietorship

b)

Partnership

c)

Joint Hindu Family

d)

Company

9.

Who contributes capital in a co-operative society?

a)

Government

b)

Owners

c)

Members

d)

Public

10.

The maximum number of partners in a banking business is:

a)

20

b)

10

c)

7

d)

15

11.

Which business enterprise is created by a special Act of Parliament?

a)

Departmental Undertaking

b)

Public Company

c)

Statutory Corporation

d)

Government Company

12.

Which of the following is an example of a statutory corporation?

a)

LIC

b)

SBI

c)

BHEL

d)

ONGC

13.

Which document contains rules and regulations of internal management of a company?

a)

Prospectus

b)

Memorandum of Association

c)

Articles of Association

d)

Certificate of Incorporation

14.

Which service is not provided by a bank?

a)

Accepting deposits

b)

Providing loans

c)

Issuing cheques

d)

Providing internet services

15.

Which of the following is a type of insurance?

a)

Fire Insurance

b)

Property Tax

c)

Income Tax

d)

Export Subsidy

16.

In e-business, which of the following is not required?

a)

Internet

b)

Website

c)

Paper invoices

d)

Computer

17.

Which is the benefit of e-business?

a)

Personal interaction

b)

Physical presence

c)

Global reach

d)

Local market only

18.

Which of the following is not an element of business ethics?

a)

Fair practices

b)

Cheating customers

c)

Respect for employees

d)

Environmental protection

19.

Which responsibility is related to paying taxes?

a)

Legal

b)

Ethical

c)

Economic

d)

Discretionary

20.

The principle of mutual help and welfare is followed by:

a)

Sole trader

b)

Partnership

c)

Co-operative society

d)

Company

21.

Which one of the following is an example of e-business?

a)

Visiting a local grocery store

b)

Shopping from Amazon

c)

Buying from mall

d)

Visiting a showroom

22.

Which of the following is the oldest form of business organisation?

a)

Sole Proprietorship

b)

Partnership

c)

Company

d)

Co-operative

23.

Which of the following is not a characteristic of services?

a)

Intangibility

b)

Storage

c)

Inseparability

d)

Variability

24.

Which organisation has the motto “One for all and all for one”?

a)

Partnership

b)

Company

c)

Co-operative Society

d)

Government Company

25.

Which of the following is a source of long-term finance?

a)

Trade Credit

b)

Bank Overdraft

c)

Debentures

d)

Bills of Exchange