Tag: classification of busniess activities

Questions Related to classification of busniess activities

Among the aids to trade, _________ widens the market.

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Warehousing

  2. Insurance

  3. Banking

  4. Transport

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Correct Option: D
Explanation:

Transportation is a major contributor to the economy and a competitive force in business.It is the activity that physically connects the business to its supply chain partners, such as suppliers and customers, and is a major influence on the customer's satisfaction with the company.

A network that allows trade is called a ______.

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. networking

  2. specialization

  3. internet

  4. market

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Correct Option: D
Explanation:

A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services in exchange for money from buyers.

_______ helps to highlight the distinctive features and utility of different products. 

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Communication

  2. Insurance

  3. Warehousing

  4. Advertising

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Correct Option: D
Explanation:

Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services.

_______ enhances the social well being of citizens by exposing them to variety of quality products including luxury items.

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Warehousing

  2. Transportation

  3. Trade

  4. Insurance

Show answer
Correct Option: C
Explanation:

Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. 

A system or network that allows trade is called a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services.

_______ facilitates large scale and efficient business operations by providing liquidity and security.

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Transport

  2. Insurance

  3. Bank

  4. Warehouse

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Correct Option: C
Explanation:

A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries.

Resolution can be amended.
elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. True

  2. False

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Correct Option: B
Explanation:

This statement is False because of the following reasons : 

(i) When motion is accepted in a meeting it is called resolution. 
(ii) A resolution is the final decision after full discussion and voting and is not subject to further discussion.
(iii) The business of the meeting is transacted through resolutions. 
(iv) A motion which is finally approved at the meeting is called a resolution.
(v) A resolution cannot be amended as it is a final decision taken in a meeting. (vi) Hence, a resolution cannot be amended. 

Advantages to the franchise in a franchise are _______________.

business organisation and correspondence classification of busniess activities concept and types of commerce and industry nature of industries and commerce operative activities in business business as an activity meaning and types of trade trade and aids to trade

  1. Marketing

  2. Econimies of scale

  3. Instant goodwill

  4. All of the above

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Correct Option: B
State the following statement is True or False:
Articles of Association acts as the charter of the company. 
business organisation and correspondence classification of busniess activities concept and types of commerce and industry nature of industries and commerce operative activities in business business as an activity meaning and types of trade trade and aids to trade

  1. True

  2. False

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Correct Option: B

If you are going to put Rs. $1,00,000$ in a fixed deposit for a year at $10\%$ rate of interest, then you know how much interest your money will earn. What kind of a decision-making condition is this?

business organisation and correspondence classification of busniess activities concept and types of commerce and industry nature of industries and commerce operative activities in business business as an activity meaning and types of trade trade and aids to trade

  1. Certain

  2. Uncertain

  3. Risk

  4. Normal

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Correct Option: A

Limited liability company posses not more than $2$ of the following character
$1$. Limited liability
$2$. Raise funds from public
$3$. No separation of management from owners
$4$. Restriction on number of partners

business organisation and correspondence classification of busniess activities concept and types of commerce and industry nature of industries and commerce operative activities in business business as an activity meaning and types of trade trade and aids to trade

  1. $2 & 4$

  2. $1 & 2$

  3. $1 & 3$

  4. $1 & 4$

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Correct Option: A