Tag: fundamentals of business activities

Questions Related to fundamentals of business activities

State the following statement is True or False:

A director must acquire qualification shares within three months from the date of being appointed as a director in a company.

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

  1. True

  2. False

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Correct Option: B
Explanation:

This statement is False, due to the following reasons:

(i) The directors occupy a very important position in the company management.
(ii) They are elected representatives of the shareholder.
(iii) Directors are responsible for decision making , policy farming  and determination of plans.
(iv) Directions exercise their powers and authorities collectively as a' Board'.
(v) Under Section 270 of the Companies Act 1956, every person  who desire to become a director of the company must purchase qualification shares within a period of 2 months from the date of his appointed.
(vi) However, the nominal value of such share should not exceed Rs.5,000/- 
(vii) The secretary has to correspond in this connection.
(ix) Whenever a Director is appointed,it is the duty of the Secretary to remind him that he has to purchase the qualification share and inform the company accordingly.
So, the Director has to purchase qualification shares within two months and not three months,from the date of his appointment.

What is the second stage of socialisation process?

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

  1. Metamorphosis stage

  2. Pre-arrival stage

  3. Outcome

  4. Encounter stage

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Correct Option: D

Income of a businessman is called ________.

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

  1. wage

  2. salary

  3. fee

  4. profit

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Correct Option: D
Explanation:

A business is an activity of making money by producing and buying and selling products. It is an entity which is established for earning profit which is the basic motive. Thus the income of the businessman is called profit.

____ Sector Skill Councils (SSG) approved in services, manufacturing, agriculture & allied services, and informal sectors. Sectors include 19 of 20 high priority sectors identified by the Government and _ of the sectors under Make in India initiative.

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

  1. 38; 25

  2. 83; 52

  3. 33; 22

  4. 22; 33

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Correct Option: A

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