Tag: elements of business

Questions Related to elements of business

Which of the following occupations involve maximum risk?

elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

  1. Employment

  2. Business

  3. Profession

  4. Teaching

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Correct Option: B
Explanation:

Business involves maximum risk as it has some external and internal environment factors which are not in the control of business and creates various types of business risks. Employment, profession and teaching does not not involves as they get fixed remuneration.

Which of the following is not a business activity?

elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

  1. A housewife selling old newspapers

  2. A person selling vegetables in your locality

  3. A teacher teaching his daughter at home

  4. A painter painting houses of others

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Correct Option: A

White-collar workers are _________.

elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

  1. Working on machines and engaged in loading, unloading

  2. Clerical employees

  3. Mining labourers

  4. None of the above

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Correct Option: B
Explanation:

White collar refers to employees whose job entails largely on clerical work such as in a office. It refers to the job of officials who performs managerial or professional work for the organisation and get a fixed salary as remuneration at the end of each month.

Which of the following professional degree is given by a private institute?

elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

  1. Chartered Accountant

  2. Cost Accountant

  3. Chartered Secretary

  4. Chartered Financial Analyst

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Correct Option: D
Explanation:

The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals.

Blue-collar workers are ________.

elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

  1. working on machines and engaged in loading, unloading

  2. clerical employees

  3. executive employees

  4. contract employees

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Correct Option: A
Explanation:

The blue collar refers to a type of employment. Blue collar jobs are typically classified as involving manual labour and compensation by an hourly wage. Some fields that fall into this category include construction, manufacturing, maintenance and mining.

Which of the following can be classified as "internal forces"?

elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

  1. Economic forces

  2. Changes in employee attitudes, feelings and aspirations

  3. Political forces

  4. All of above

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Correct Option: B

Employees relate to which of the following?

elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

  1. Work all day all night

  2. Do not work

  3. Work hard

  4. Work smart

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Correct Option: C

Date of compulsory dissolution for Partnership firm is the ________.

elements of business partnership 1 - meaning, definition, characteristics and kinds types of partnership types of partnerships dissolution of partnership

  1. date of order of court

  2. date of applying for court

  3. date when firm closes its business

  4. none of the above

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Correct Option: A

Reconstitute of firm takes place expect in case of _________.

elements of business partnership 1 - meaning, definition, characteristics and kinds types of partnership types of partnerships dissolution of partnership

  1. admission of partner

  2. retirement of partner

  3. change in profit sharing ratio

  4. insolvency of partner

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Correct Option: C

When firm is compulsory dissolved?

elements of business partnership 1 - meaning, definition, characteristics and kinds types of partnership types of partnerships dissolution of partnership

  1. All the partners are insolvent.

  2. Firms business become unlawful.

  3. All but not one become insolvent.

  4. All of the above.

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Correct Option: B