Introduction to Business 0 Introduction to Business 1 / 31 Q.30 Which of these is true about updating the level of BCK?a) Non-commerce Background is a negative for improving BCK. (b) Only Business Newspaper helps in updating BCK (ii) Even a TV commercial can impart knowledge (iv) Reflective Thinking on various observations and updates is a must. (i) and (ii) (ii) and (iii) (iii) and (iv) All the above 2 / 31 Q.29 Stock Market Players who raise the stock prices through building a buy pressure are called Bulls Bears Cash cows None of the above 3 / 31 Q.28 For having direct control over the business activities, which form is preferred Partnership Sole proprietorship HUF Company 4 / 31 Q.27 Mutual agency is an important feature of HUF Joint Stock Company Partnership Co-operative Society 5 / 31 Q.25 Which corporation has both characteristics i.e. of a partnership and of a separate legal entity? Limited Liability Partnership (LLP) Company Partnership Statutory Body 6 / 31 Q.25 Which corporation has both characteristics i.e. of a partnership and of a separate legal entity? Limited Liability Partnership (LLP) Company Partnership Statutory Body 7 / 31 Q.24 In case of HUF what are liabilities of Co-parcener and Karta Both have unlimited liability. Co-parcener’s liability is limited while Karta’s liability is unlimited. Karta’s liability is limited while Co-parcener’s liability is unlimited. Both have limited liability. 8 / 31 Q.23 Who can be the head of Joint Hindu Family business? Karta Co-parcener Manager Director 9 / 31 Q.22 Which of the following is not a form of organisation? Partnership Company Partners Sole Proprietorship 10 / 31 Q.22 Which of the following is not a form of organisation? Partnership Company Partners Sole Proprietorship 11 / 31 Q.21 What is the liability of each partner under LLP? Limited Unlimited Partially Limited None of the above 12 / 31 Q.20 The minimum number of members required to get a co-operative society registered is 15 20 10 5 13 / 31 Q.19 __________ is a feature of partnership form of business. Separate legal entity from the firm Limited scope for raising finance The liability of a partner is limited to his contribution to capital Registration of partnership is compulsory 14 / 31 Q.18 Which of the following is not a feature of limited liability partnership? Incorporation is mandatory It is a legal entity Limited liability Autonomy of being own boss 15 / 31 Q.17 Which of the following is organic objective of business ? Fitness of Human Resources Community Service Effective waste handling and disposal Economic Value Added 16 / 31 Q.16 Which of the following is part of HUF ? Hindu and Sikh family Parsi Family Both 1 and 2 None of the above 17 / 31 Q.15 Statutory body is a body that is created under an Act enacted by Association of people Association of ministers Both (a) and (b) Judiciary 18 / 31 Q.14 Only coparcener can become a Karta, This statement is— True False Partly true Partly false. 19 / 31 Q.13 Which of the following is a form of business organisation? Temple Church Partnership Mosque 20 / 31 Q.12 CSR stands for: Cash Security Ratio Cash Supply Ratio Corporate Social Responsibility Consumer Satisfaction Ratio 21 / 31 Q.11 _______ successive generations of an Undivided Family are known as HUF. 2 3 4 5 22 / 31 Q.10 Which of the following statements characterises the best non-economic activities? Non-economic activities do not require any investment of resources These activities do not entail any operational costs These activities are undertaken by ascetics The underlying purpose of these activities is not earning of a livelihood but social, psychological or spiritual satisfaction 23 / 31 Q.9 Which of the following occupations requires rendering of services based upon specialised knowledge and membership of an accreditation and assessment body? Employment Profession Business Agriculture 24 / 31 Q.8 BCK helps CAs in Becoming more aware and responsible Conducting audit diligently Handling business issues and providing solutions All of the above 25 / 31 Q.7 Trade is broadly classified into - Domestic and Foreign Wholesale and Retail Inter-state and Intra-state None of the above 26 / 31 Q.6 Conversion of cotton into cloth is an example of genetic industry. TRUE FALSE 27 / 31 Q.5 The head of the joint Hindu family business is called Partner Manager Karta Member 28 / 31 Q.4 In employment a person receives Profit Fee Salary dividend 29 / 31 Q.3 Which of the following statements does not comprise business activity? Sale of old furniture by a household for a profit A carpenter made furniture for its domestic use Steel furniture industry Domestic appliances industry 30 / 31 Q.2 The liability of each member of the Hindu Undivided Family business is: Limited to a sum as declared by him in general public Unlimited Unlimited Limited to the extent of his share in the business except karta Limited to the extent of his share in the business including that of karta. 31 / 31 Q.1 Which is not a feature of LLP? Separate legal entity All LLP have existence for fixed period. Partners in an LLP are required to turn into an agreement In an LLP, partners are not liable for the act of other partners. Your score is LinkedIn Facebook Twitter VKontakte