Chapter-wise MCQ Questions

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Question-1. A business firm in India buy toys from China to sell it to Nepal. Identify the type of trading activity mentioned above?

  1. Entreport
  2. Export
  3. Import
  4. Retail trade
Answer-1

Question-2. Bad debts due to non-payment of debts by debtors is an example of which type of business risk?

  1. Human
  2. Natural
  3. Physical
  4. Economic
Answer-2

Question-3. Business eqauls to

  1. Industry + Commerce
  2. Industry + Trade
  3. Trade + Aids to Trade
  4. Trade + Commerce
Answer-3

Question-4. Code of conduct DOES NOT include

  1. Dishonesty
  2. Rules
  3. Morality
  4. Integrity
Answer-4

Question-5. Commerce includes

  1. Trade and aids to trade
  2. Business and industry
  3. Business and Trade
  4. None of the options
Answer-5

Question-6. Commerce includes activities relating to trade and _________________ to trade.

  1. Auxiliaries
  2. Subsidiaries
  3. Supporting
  4. None of these
Answer-6

Question-7. Economic activities may be classified into business, ___________ and employment

  1. Occupation
  2. Vocation
  3. Profession
  4. Work
Answer-7

Question-8. Everest Textile Ltd is involved in manufacturing textile products. In which industry is the company involved?

  1. Processing industry.
  2. Analytical industry
  3. Synthetic industry
  4. Extractive industry
Answer-8

Question-9. Following are the characteristics of business risks. One of then is not correct. Please identify it.

  1. Loss is the reward for risk bearing
  2. Business risks are due to uncertainties
  3. Risk is an essential component of every business
  4. Degree of risk depends mainly upon the nature and size of business
Answer-9

Question-10. Human activities are of ____________ types

  1. Two
  2. One
  3. Three
  4. Four
Answer-10

Question-11. Name the activity of commerce that removes the hindrance of time.

  1. Advertising
  2. Warehousing
  3. Transportation
  4. Banking
Answer-11

Question-12. Name the two broad categories of business activities.

  1. Trade and commerce
  2. Trade and industry
  3. Industry and commerce
  4. None of these
Answer-12

Question-13. Risk is the result of

  1. Uncertainties
  2. None of the options
  3. Both of the above
  4. Certainties
Answer-13

Question-14. Soaps are included under which type of industry

  1. Assembling Industry.
  2. Analytical Industry.
  3. Processing Industry.
  4. Synthetical Industry.
Answer-14

Question-15. The economic activity in which specialized knowledge is required is

  1. Profession
  2. Business
  3. Employment
  4. None of the options
Answer-15

Question-16. The industries which provides support services to other industries are known as

  1. Primary
  2. Secondary
  3. Manufacturing
  4. Tertiary
Answer-16

Question-17. The latest generation of mobile phones has many features like faster internet browsing, Bluetooth etc. This is an example which objective of business?

  1. Innovation
  2. Earning profits
  3. Market standing
  4. Productivity
Answer-17

Question-18. Transfer of interest exists in the case of

  1. Business
  2. Employment
  3. Profession
  4. None
Answer-18

Question-19. What reward an entrepreneur gets for risk bearing in business?

  1. Fees
  2. Profit
  3. Salary
  4. Interest
Answer-19

Question-20. Which of the following creates form utility?

  1. Commerce
  2. Trade
  3. Industry
  4. Business
Answer-20

Question-21. Which of the following is not an example of non-economic activity

  1. Teaching
  2. Sentiment
  3. Patriotism
  4. Sympathy
Answer-21

Question-22. Which one of the following economic activity is directed towards producing or acquiring wealth through buying and selling of goods?

  1. Employment
  2. Profession
  3. Business
  4. Management
Answer-22

Question-23. Which one of the following is an economic activity in which specialized knowledge is required?

  1. Profession
  2. Business
  3. Employment
  4. None of the options
Answer-23

Question-24. Which one of the following is NOT a characteristic of business?

  1. Managing Business
  2. Customer satisfaction
  3. Risk Bearing
  4. Profit Earning
Answer-24

Question-25. Which one of the following is NOT an Auxiliary to trade?

  1. Mining
  2. Warehousing
  3. Insurance
  4. Transport
Answer-25

Question-26. Which one of the following is NOT the objective of the business?

  1. Innovation
  2. Investment
  3. Creation of customers.
  4. Profit making
Answer-26

Question-27. Which one of the following may not be a factor behind starting a business

  1. Routine workload
  2. Size of the firm
  3. Finance
  4. Location of the business
Answer-27

Question-28. Why a business should earn profit?

  1. To increase the reputation of business.
  2. To provide funds for future growth.
  3. To provide return to investors.
  4. All of the above
Answer-28



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