Business Multiple Choice Question MCQ
Categories: Business
1. What is Business? (A) Buying & Selling of Goods (B) Commerce & Industry (C) Trade (S) None of the above Answer: B) Commerce & Industry 2. What is an Economic Activity? (A) The activity of making, providing, purchasing, or selling goods or services. (B) An industry in that part of the economy that creates services rather than tangible objects. (C) It is a category of property that includes intangible creations of the human intellect. (D) Services that focus on the creation, re-arrangement and interpretation of new and existing ideas. Answer: A) The activity of making, providing, purchasing, or selling goods or services 3. Hunting is what kind of Industry? (A) Intellectual (B) Interpretation (C) Extractive (D) Economic Answer: C) Extractive 4. Create a customer is a valid definition of? (A) Business Purpose (B) Factory Purpose (C) Entrepreneur (D) None of the Above Answer: A) Business Purpose 5. Individual Ownership is called as? (A) Joint Trade Business (B) Sole Proprietorship (C) Co-Operative Society (D) Partnership Answer: B) Sole Proprietorship 6. Who takes no active part in Business? (A) CEO (B) Managing Director (C) Dormant Partner (D) Minor Partner Answer: C) Dormant Partner 7. Whose property is not liable for the debts of a company? (A) Owner (B) Shareholders (C) Employee (D) Minor Partner Answer: D) Minor Partner 8. In case of death or insolvency of a partner the firm is? (A) Dissolved (B) Carried on (C) New owner (D) None of the above Answer: A) Dissolved 9. Whose liability is limited to the extent of value of business assets and his private assets? (A) Partnership Firm (B) Sole Proprietorship (C) Co-Operative Society (D) HUF Answer: B) Sole Proprietorship 10. Maximum number of partners allowed in Banking Business? (A) Infinite (B) 10 (C) 20 (D) 50 Answer: D) 50 11. In which firm the agreement is Oral or Written? (A) Partnership (B) Sole Proprietorship (C) HUF (D) Co-operative Society Answer: A) Partnership 12. Whose Liability is limited to the extent of his capital to the firm? (A) Owner (B) Partner (C) Employee (D) None of the above Answer: B) Partner 13. A partner in a firm _____. (A) Can Transfer his shares to an outsider (B) Can Transfer his shares to an outsider with the permission of partners (C) Cannot transfer his shares (D) None of the above Answer: C) Cannot transfer his shares 14. Who is the servant of the firm with a share in the profits? (A) Manager (B) Employee (C) CEO (D) Shareholder Answer: A) Manager 15. Who is not entitled to the share of profits? (A) Manager (B) Shareholders (C) Partners (D) Nominal Partner Answer: D) Nominal Partner 16. Minimum Members required in a PVT. Ltd firm are? (A) 5 (B) 2 (C) 10 (D) 50 Answer: B) 2 17. Companies Act 2013 govern? (A) Partnership firm (B) Co-Operative Society (C) Joint Stock Company (D) Sole Proprietorship Answer: C) Joint Stock Company 18. What contains the rules regarding the activities of a company? (A) Memorandum of Association (B) Article of Association (C) Partnership Deed (D) None of the above Answer: A) Memorandum of Association 19. Whose liability is limited to the paid-up value of shares? (A) Partners (B) Manager (C) Employee (D) Shareholders Answer: D) Shareholders 20. Which firm is called invisible and intangible? (A) Partnership (B) HUF (C) Company (D) Co-Operative Society Answer: C) Company