WorksheetsBusiness Studies Online Test
Total questions: 20
Worksheet time: 10mins
Which of the following is the primary objective of business?
Innovation
Profit earning
Social welfare
Customer satisfaction
Which of the following is NOT a characteristic of business activity?
Production or procurement of goods and services
Sale or exchange of goods and services
Free of risk
Profit motive
Which of the following is NOT an industry?
Manufacturing
Construction
Banking
Extractive
The liability of members in a joint-stock company is:
Unlimited
Limited to the extent of their shares
Zero
None of these
The form of business organisation that combines features of partnership and company is:
Sole proprietorship
Joint Hindu Family
Cooperative Society
Limited Liability Partnership (LLP)
Which of the following is a secondary industry?
Mining
Fishing
Manufacturing
Agriculture
Business risk arises due to:
Certainty in profit
Uncertainty in future events
Government support
Unlimited liability
Trade between two countries is called:
External trade
Internal trade
Wholesale trade
Retail trade
Which of the following is an example of auxiliary to trade?
Transport
Banking
Insurance
All of the above
Which of the following is NOT a feature of sole proprietorship?
Quick decision making
Unlimited liability
Separate legal entity
Direct incentive
The minimum number of members required to start a cooperative society is:
5
7
10
20
Which of the following sources of finance is considered ownership capital?
Debentures
Equity shares
Bank loan
Public deposits
Which of the following is a limitation of e-business?
Easy accessibility
Risk of cyber fraud
Low cost of operations
Global reach
The regulator of the insurance sector in India is:
RBI
SEBI
IRDAI
NABARD
The tax levied on production or sale of goods is known as:
Direct tax
Excise duty / GST
Customs duty
Service tax
Which of the following is a merit of Joint Hindu Family business?
Limited liability
Efficient management
Stability of business
Large financial resources
Which of the following is NOT an objective of business environment study?
Helps in policy formulation
Helps in coping with rapid changes
Ensures elimination of risks
Helps in improving performance
FDI stands for:
Foreign Direct Investment
Foreign Development Institution
Fixed Domestic Investment
Foreign Dividend Income
Which of the following is a tertiary activity?
Mining
Banking
Agriculture
Manufacturing
The governing law of partnership business in India is:
Companies Act, 2013
Partnership Act, 1932
Contract Act, 1872
Cooperative Societies Act, 1912
