Fybcom
STRUCTURE OF PROCESS OF BUSINESS
(SPB)
50 MCQS
1. Which of the following is not a type of human occupation?
A. Profession
B. Employment
C. Business
D. Charity
2. Identify the incorrect statement
A. Business includes production of goods
B. Employment is an occupation in which a personal service of a special and expert nature is rendered.
C. Human Life is built around work.
D. Business refers to reselling of goods at profit.
3 . Independent Chartered Accountant:: Profession, Salesman::____________.
A. Employment
B. Business
C. Profession
D. Commerce
4. Which of the following involves an element of risk of loss or uncertainty?
A. Economic Activity
B. Non-Economic Activity
C. Service
D. Charity
5. In which of following, a person has to work under an agreement or rules of service and perform such work as may be assigned to him or her?
A. Profession
B. Business
C. Commerce
D. Employment
6. In which of the following, a person has to comply with minimum academic qualifications prescribed by law or by the association.
A. Employment
B. Profession
C. Business
D. Commerce
7. Which of the following is not one of the characteristics of Business?
A. Sales or Exchange of goods/service for the satisfaction of human needs
B. Profit of Motive
C. Element of Risk
D. Survival of Business
8. Which of the following is the organic objective of business?
A. Survival
B. Innovation
C. Development of Resources
D. Social Justice
9. Which of following does not belong to Social Objective of Business?
A. Supply of Desired Quality of Goods
B. Avoidance of Profiteering and Anti-social practices
C. Providing Employment
D. Development of Small Entrepreneurs
10. Which of the following is not one of the essentials of an efficient organization?
A. People Competent and willing to work together
B. Common purpose or goal to be achieved through out joint efforts of people
C. Importance to Individual goals
D. Physical Facilities and equipment necessary for doing the work.
11. The solvency of a business rests upon _________.
A. Employer Morale
B. Best Marketing System
C. Financial Resources
D. Objective
12. _________ must be based on reliable, adequate and up-to-date information reflecting the past, present and future conditions.
A. Objectives
B. Planning
C. Location
D. Finance
13. Which of the following is not one of the essentials of a successful business?
A. Location, Layout and Size
B. Innovation
C. Equipment and Machinery
D. Risk
14. All marketing plans and policies are ____________.
A. Customer-centered
B. Product-centered
C. Profit-centered.
D. Market-centered.
15. Good Management provides _____________.
A. Knowledge
B. Resources
C. Products/Services
D. Entrepreneurial Ability
16. ________ is described as a set of interrelated parts working together to achieve a common objective.
A. Management
B. System
C. Goal
D. Effort
17. The ______ of business being a sub-system of the society of is tied up with the ________ in which it has to function.
A. Structure and Environment
B. Environment and Structure
C. Objective and Market
D. Market and Objectives
18. In business system, the concept to ___________ refers to the arrangement by which society gets various outputs from business in return for the inputs and increases or reduces the inputs provided to the business system depending upon the satisfaction provided on the outputs of business.
A. Goals
B. Industry
C. Feedback
D. Commerce
19. _________ is concerned with raising, processing and fabrication of products.
A. Commerce
B. Industry
C. Profession
D. Business System
20. Fishing, Fruit-gathering, agriculture belong to __________________ industry.
A. Genetic
B. Construction
C. Manufacturing
D. Extractive
21. Which of the following is not included in Genetic Industry?
A. Afforestation
B. Commercial Kennels
C. Poultry Farm
D. Cattle-breeding farms
22. Which of the following is not a type of Manufacturing Industry?
A. Construction
B. Synthetic
C. Processing
D. Analytical
23. Lubricating Oil::_________________, Textiles:: Processing
A. Synthetic
B. Analytical
C. Assembly Line
D. Construction
24. Industries like Steel, aeronautics etc. included in ________________.
A. Light Industries
B. Heavy Industries
C. Assembly Line
D. Analytical Industries
25. Which of the following is not included in commerce?
A. Transportation
B. Trade
C. Banking and Insurance
D. Innovation
26. Which of the following avoids the hindrances of place?
A. Transportation
B. Banking
C. Advertising
D. Publicity
27. ___________ refers to the exchange of goods between foreign producers and foreign consumers.
A. Retail Trade
B. Import Trade
C. Export Trade
D. Entrepot Trade
28. Which of the following is an economic consequence of Industrial Revolution?
A. Growth of Capitalism
B. Uncongenial Working Condition
C. Rise of Slum areas
D. Wretched living conditions
29. Which of the following is not one of the changes leading to Industrial Revolution?
A. Use of Steam Power in Textiles
B. Rise of Chemical Industries
C. Revolution in Transport
D. Specialization
Unit II
30 . Which of the following is not one the causes of Business Combination?
A. Wasteful Competition
B. Business Cycle
C. Desire for Monopoly Power
D. Technological Advancement
31. In which of the following type of combination, a major firm supplies the product to the other combining firms which use it as their raw material?
A. Horizontal
B. Vertical
C. Convergent Lateral
D. Divergent Lateral
32. Association: Chambers of Commerce, Federations:: ____________
A. Informal Agreement
B. Trade Association
C. Pools
D. Community of Interest
33. _________ is organized on a no profit basis and its meetings are conducted largely for a discussion of matters affecting the common interests of the members such as a problems of procurement of raw materials, labor shortage, tax laws etc.
A. Trade Association
B. Trade Union
C. Pool
D. Trust
34. __________ are voluntary associations of persons connected with commerce, trade and industry and are formed on a regional basis to foster the growth and development of business in their respective regions.
A. Trade Unions
B. Trade Association
C. Chambers of Commerce
D. Federations
35. Informal Agreements are also referred to as ____________.
A. Trade Agreement
B. Business Agreement
C. Gentlemen’s Agreement
D. Trust Agreement
36. The instability and the ineffectiveness of ______________ led to devise the federation type of organization with the common object of controlling price.
A. Consolidation
B. Trust
C. Association
D. Community of Interest
37. The deferred rebate system is adopted in __________ pool.
A. Market
B. Traffic
C. Output
D. Income and Profit.
38. The GEC of USA was the first to initiate the formation of _____________ and formed the RCA (Radio Corporation of America).
A. Market Pool
B. Price Pool
C. Patents Pool
D. Traffic Pool
39. ______________ are the devices for artificial shooting up of prices to exploit speculative and monopoly profits.
A. Corners and Rings
B. Market Pool
C. Traffic Pool
D. Corner Stone
40. Which of following are not the forms of combination in the sense of involving healthy business practices and benefiting the business community at large?
A. Corners and Rings
B. Market Pools
C. Traffic Pool
D. Corner Stone
41. Germany is the homeland of ___________ which received impetus from the encouraging policy of Government of the country.
A. Pools
B. Cartels
C. Trust
D. Partial Consolidation
42. In which of following type of cartel, a number of competing producers establishes a joint selling agency through agreement for the exclusive sales of their products?
A. Price-Fixing Cartel
B. Quota-Fixing Cartel
C. Syndicate or Cartels Proper
D. Super Cartel
43. In ___________ cartel, an agreement is made between cartels of one country and the those of another country.
A. Super Cartel
B. Zonal Cartel
C. Syndicate Cartel
D. Customer-assigned cartel
44. Which of following is not related to Partial Consolidation?
A. Combination of Trust
B. Community of Interest
C. Holding Company
D. Amalgamation
45. In Partial Consolidation, the combining units surrender their ____________ for all practical purposes to the combination association but retain ____________ nominally.
A. Freedom, Individual Entities
B. Individual Entities, Freedom
C. Identify, Power
D. Wealth, Power
46. ____________ may be defined as a form of business organization in which, without any formal central administration, the business policy of several companies is controlled by a group of common stockholders or directors.
A. Community of Interest
B. Trust
C. Merger
D. Pool
47. Which of the following is not one of the forms of Community of Interest?
A. Multiple Directorship
B. Combination of Trust
C. Merger
D. Acquisition
48. ____________ is form of business organization which is created for the purpose of combining other corporations by owning controlling amount of their stocks.
A. Subsidiary Company
B. Holding Company
C. Trust
D. Amalgamation
49. _______ refers to absorption of one firm with the stronger firm.
A. Merger
B. Holding Company
C. Subsidiary Company
D. Amalgamation
50 In which of the following, a new company is formed to take over the existing businesses of combining (two or more) companies?
A. Merger
B. Holding Company
C. Subsidiary Company
D. Amalgamation
51. In India, one person can hold the maximum _________ directorship in public limited companies.
A. 10
B.15
C.20
D.25
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