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All questions of Entrepreneurial Planning for Commerce Exam
State Whether the Following Statements are True or False.
Q. Minors cannot form a partnership firm.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. Minors cannot form a partnership firm.
Q. Minors cannot form a partnership firm.
a)
True
b)
False
|
Vikas Kapoor answered |
Section 30 of the Indian Partnership Act, provides that though a minor cannot be a partner in a firm, but, with the consent of all the partners for the time being, he may be admitted to the benefits of partnership by an agreement executed through his guardian with the other partners.
AD Ltd. was into manufacturing security cameras for household and commercial buildings. Their Research and development team came up with a new idea of manufacturing drones as security cameras which will give a 360-degree view of the entire building. They needed huge finance for the same. The company MD Sharath heard of this group of venture capitalists who are ready to invest in new ideas. He seeked an appointment with them and started preparation of a business plan to be presented before them. His plan was to make an informative power point presentation showing key graphs of financial trends. It was meant to trigger discussion among the members. Which format of business plan is Sharath using?- a)Elevator Pitch
- b)A pitch deck with oral narrative
- c)A written presentation for external stakeholders
- d)An internal operational plan
Correct answer is option 'B'. Can you explain this answer?
AD Ltd. was into manufacturing security cameras for household and commercial buildings. Their Research and development team came up with a new idea of manufacturing drones as security cameras which will give a 360-degree view of the entire building. They needed huge finance for the same. The company MD Sharath heard of this group of venture capitalists who are ready to invest in new ideas. He seeked an appointment with them and started preparation of a business plan to be presented before them. His plan was to make an informative power point presentation showing key graphs of financial trends. It was meant to trigger discussion among the members. Which format of business plan is Sharath using?
a)
Elevator Pitch
b)
A pitch deck with oral narrative
c)
A written presentation for external stakeholders
d)
An internal operational plan
|
Priyanka Khatri answered |
A pitch deck with oral narrative: A hopeful, entertaining slide show and oral narrative that is meant to trigger discussion and interest potential investors in reading the written presentation.
Elements of the Pitch Deck Share section. By now, pitch decks have a fairly standard format of 10–12 slides that investors expect founders to roughly adhere to: thesis, vision, problem, solution, traction, team, timing, market, competition, financing, and risks and challenges.
Elements of the Pitch Deck Share section. By now, pitch decks have a fairly standard format of 10–12 slides that investors expect founders to roughly adhere to: thesis, vision, problem, solution, traction, team, timing, market, competition, financing, and risks and challenges.
Availability of which of the following items of infrastructure should be mentioned in the business plan:- a)Pollution control
- b)Production process
- c)Both (a) and (b)
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
Availability of which of the following items of infrastructure should be mentioned in the business plan:
a)
Pollution control
b)
Production process
c)
Both (a) and (b)
d)
None of these
|
Pranavi Das answered |
Availability of Infrastructure in a Business Plan
In a business plan, it is important to mention the availability of certain items of infrastructure that are crucial for the successful operation of the business. These items can have a significant impact on the business's operations, costs, and overall sustainability. Two such items that should be included in a business plan are pollution control and the production process.
Pollution Control:
- Environmental Regulations: In today's world, businesses are required to comply with environmental regulations. Pollution control measures help to ensure that the business is operating in an environmentally responsible manner. This includes controlling emissions, waste management, and implementing sustainable practices.
- Impact on Business Operations: Pollution control measures can have a direct impact on the business's operations and costs. For example, certain industries may require expensive equipment or technology to control emissions, which can add to the overall production costs. It is important to mention this in the business plan to demonstrate that the business is aware of and prepared for these requirements.
- Reputation and Stakeholder Perception: Pollution control is not only important from a regulatory perspective but also for the business's reputation. Customers, investors, and other stakeholders are increasingly concerned about environmental sustainability. Including pollution control measures in the business plan shows the business's commitment to sustainable practices, which can enhance its reputation and attract socially conscious stakeholders.
Production Process:
- Operational Efficiency: The production process is a critical aspect of any business. It involves the transformation of raw materials into finished products or services. The availability of suitable infrastructure, such as equipment, machinery, and facilities, is essential for the smooth functioning of the production process. It is important to mention the availability of these resources in the business plan to ensure that the business can meet its production targets efficiently.
- Cost Management: The production process also has a significant impact on the business's costs. Efficient infrastructure can help reduce production costs, improve productivity, and enhance overall profitability. By mentioning the availability of infrastructure in the business plan, the business can demonstrate its cost management strategies and its ability to compete effectively in the market.
- Scalability and Growth: The availability of infrastructure is also crucial for the business's scalability and growth. As the business expands, it may need to increase its production capacity or adopt new technologies. By mentioning the availability of infrastructure in the business plan, the business can showcase its ability to scale up operations and seize growth opportunities.
Conclusion:
Both pollution control and the production process are important items of infrastructure that should be mentioned in a business plan. They have a direct impact on the business's operations, costs, reputation, and growth prospects. By including these details in the business plan, the business can demonstrate its commitment to sustainability, operational efficiency, and long-term success.
In a business plan, it is important to mention the availability of certain items of infrastructure that are crucial for the successful operation of the business. These items can have a significant impact on the business's operations, costs, and overall sustainability. Two such items that should be included in a business plan are pollution control and the production process.
Pollution Control:
- Environmental Regulations: In today's world, businesses are required to comply with environmental regulations. Pollution control measures help to ensure that the business is operating in an environmentally responsible manner. This includes controlling emissions, waste management, and implementing sustainable practices.
- Impact on Business Operations: Pollution control measures can have a direct impact on the business's operations and costs. For example, certain industries may require expensive equipment or technology to control emissions, which can add to the overall production costs. It is important to mention this in the business plan to demonstrate that the business is aware of and prepared for these requirements.
- Reputation and Stakeholder Perception: Pollution control is not only important from a regulatory perspective but also for the business's reputation. Customers, investors, and other stakeholders are increasingly concerned about environmental sustainability. Including pollution control measures in the business plan shows the business's commitment to sustainable practices, which can enhance its reputation and attract socially conscious stakeholders.
Production Process:
- Operational Efficiency: The production process is a critical aspect of any business. It involves the transformation of raw materials into finished products or services. The availability of suitable infrastructure, such as equipment, machinery, and facilities, is essential for the smooth functioning of the production process. It is important to mention the availability of these resources in the business plan to ensure that the business can meet its production targets efficiently.
- Cost Management: The production process also has a significant impact on the business's costs. Efficient infrastructure can help reduce production costs, improve productivity, and enhance overall profitability. By mentioning the availability of infrastructure in the business plan, the business can demonstrate its cost management strategies and its ability to compete effectively in the market.
- Scalability and Growth: The availability of infrastructure is also crucial for the business's scalability and growth. As the business expands, it may need to increase its production capacity or adopt new technologies. By mentioning the availability of infrastructure in the business plan, the business can showcase its ability to scale up operations and seize growth opportunities.
Conclusion:
Both pollution control and the production process are important items of infrastructure that should be mentioned in a business plan. They have a direct impact on the business's operations, costs, reputation, and growth prospects. By including these details in the business plan, the business can demonstrate its commitment to sustainability, operational efficiency, and long-term success.
In the drive to make the world ‘plastic free’, Aru designed a machine to convert single-use plastic into very small granules that could be used for making low cost roads. Her machine worked with the help of solar energy. She put her idea before the venture capitalists by making an entertaining slide show and oral narration. She also presented the executive summary of her proposed venture and a few key graphs. The format of business plan used by Aru is:- a)Elevator Pitch
- b)A pitch deck with oral narrative
- c)A written presentation for external stakeholders
- d)An internal operational plan
Correct answer is option 'B'. Can you explain this answer?
In the drive to make the world ‘plastic free’, Aru designed a machine to convert single-use plastic into very small granules that could be used for making low cost roads. Her machine worked with the help of solar energy. She put her idea before the venture capitalists by making an entertaining slide show and oral narration. She also presented the executive summary of her proposed venture and a few key graphs. The format of business plan used by Aru is:
a)
Elevator Pitch
b)
A pitch deck with oral narrative
c)
A written presentation for external stakeholders
d)
An internal operational plan
|
Aryan Khanna answered |
Pitch deck: A pitch deck is a presentation deck that is used to pitch your idea or company to any number of audiences, generally investors. One of the single most important aspects of an effective pitch deck is to organize it based on the audience and forum to which it is being presented.
A pitch deck with oral narrative: A hopeful, entertaining slide show and oral narrative that is meant to trigger discussion and interest potential investors in reading the written presentation.
A pitch deck with oral narrative: A hopeful, entertaining slide show and oral narrative that is meant to trigger discussion and interest potential investors in reading the written presentation.
Product details does not include:- a)Product utility
- b)Product range
- c)Product design
- d)None of the above
Correct answer is option 'D'. Can you explain this answer?
Product details does not include:
a)
Product utility
b)
Product range
c)
Product design
d)
None of the above
|
Arpita Nambiar answered |
Product details are an essential component of any marketing strategy as they provide customers with information about the features and benefits of a particular product. These details help customers make informed purchase decisions and differentiate one product from another. While product details may vary depending on the industry and the specific product being marketed, they typically include information such as product utility, product range, and product design. However, the correct answer to this question is option 'D', which states that none of the above options are included in product details. Let's understand why this is the case.
Product Utility
- Product utility refers to the usefulness or value that a product provides to customers. It explains how the product can fulfill the needs and wants of customers and solve their problems. Product utility is an important aspect of product details as it helps customers understand how the product can benefit them.
- For example, if a company is marketing a smartphone, the product utility may include features such as a high-quality camera, fast processing speed, and a long-lasting battery. These details would convey the benefits that customers can derive from using the smartphone, such as capturing high-resolution photos, multitasking efficiently, and using the phone for an extended period without charging.
Product Range
- Product range refers to the variety of products offered by a company within a particular category. It includes different models, sizes, colors, or variations of a product. Product range is an important aspect of product details as it provides customers with options to choose from based on their preferences and requirements.
- For example, if a company is marketing a clothing line, the product range may include different styles, sizes, and colors of shirts, pants, and dresses. These details would enable customers to select products that suit their individual tastes and needs.
Product Design
- Product design refers to the aesthetic and functional aspects of a product. It includes the visual appearance, shape, color, materials used, and overall design elements. Product design is an important aspect of product details as it influences customers' perception of the product and can attract their attention.
- For example, if a company is marketing a luxury watch, the product design may include a sleek and elegant design, high-quality materials such as stainless steel or leather, and intricate detailing. These details would convey the premium and sophisticated nature of the watch, appealing to customers who value style and craftsmanship.
None of the Above
- The correct answer, option 'D', states that none of the above options are included in product details. However, this is incorrect. Product utility, product range, and product design are all important aspects of product details that provide customers with valuable information and help them make purchase decisions.
- It is possible that the question is framed incorrectly or there is a mistake in the answer key. Nonetheless, it is clear that product utility, product range, and product design are typically included in product details and play a significant role in marketing a product successfully.
Product Utility
- Product utility refers to the usefulness or value that a product provides to customers. It explains how the product can fulfill the needs and wants of customers and solve their problems. Product utility is an important aspect of product details as it helps customers understand how the product can benefit them.
- For example, if a company is marketing a smartphone, the product utility may include features such as a high-quality camera, fast processing speed, and a long-lasting battery. These details would convey the benefits that customers can derive from using the smartphone, such as capturing high-resolution photos, multitasking efficiently, and using the phone for an extended period without charging.
Product Range
- Product range refers to the variety of products offered by a company within a particular category. It includes different models, sizes, colors, or variations of a product. Product range is an important aspect of product details as it provides customers with options to choose from based on their preferences and requirements.
- For example, if a company is marketing a clothing line, the product range may include different styles, sizes, and colors of shirts, pants, and dresses. These details would enable customers to select products that suit their individual tastes and needs.
Product Design
- Product design refers to the aesthetic and functional aspects of a product. It includes the visual appearance, shape, color, materials used, and overall design elements. Product design is an important aspect of product details as it influences customers' perception of the product and can attract their attention.
- For example, if a company is marketing a luxury watch, the product design may include a sleek and elegant design, high-quality materials such as stainless steel or leather, and intricate detailing. These details would convey the premium and sophisticated nature of the watch, appealing to customers who value style and craftsmanship.
None of the Above
- The correct answer, option 'D', states that none of the above options are included in product details. However, this is incorrect. Product utility, product range, and product design are all important aspects of product details that provide customers with valuable information and help them make purchase decisions.
- It is possible that the question is framed incorrectly or there is a mistake in the answer key. Nonetheless, it is clear that product utility, product range, and product design are typically included in product details and play a significant role in marketing a product successfully.
Which of the following plan helps to plan the work in such a manner that one can clearly form an idea about plant layout.- a)Operation plan
- b)Production plan
- c)Marketing plan
- d)Financial plan
Correct answer is option 'B'. Can you explain this answer?
Which of the following plan helps to plan the work in such a manner that one can clearly form an idea about plant layout.
a)
Operation plan
b)
Production plan
c)
Marketing plan
d)
Financial plan
|
|
Amita Das answered |
- A production plan serves as a guide for your company's production activities. It establishes and sequences activities which must be carried out to achieve a production target, so that all staff involved are aware of who needs to do what, when, where and how.
- Typically, a plan addresses materials, equipment, human resources, training, capacity and the routing or methods to complete the work in a standard time. The production plan initially needs to address specific key elements well in advance of production in order to ensure an uninterrupted flow of work as it unfolds.
The board of directors of a joint stock company is elected by- a)General public
- b)Government bodies
- c)Shareholders
- d)Employees
Correct answer is option 'C'. Can you explain this answer?
The board of directors of a joint stock company is elected by
a)
General public
b)
Government bodies
c)
Shareholders
d)
Employees
|
Rohit Joshi answered |
The Board of Directors of a Joint Stock Company
A joint stock company is a type of business organization that issues shares of stock to its investors. The ownership of a joint stock company is divided into shares, which are traded on the stock market. The board of directors is the governing body of a joint stock company, responsible for making strategic decisions and overseeing the management of the company.
Election of the Board of Directors
The board of directors of a joint stock company is elected by the shareholders of the company. Shareholders are the owners of the company, and they have the right to vote for the board of directors. The voting process usually takes place at the annual general meeting (AGM) of the company, where the shareholders gather to discuss the company's performance and elect the board of directors.
Role of the Board of Directors
The board of directors is responsible for the overall management of the company, including setting the company's strategic direction, appointing and supervising the management team, and overseeing the financial performance of the company. The board of directors also has a fiduciary duty to act in the best interests of the company and its shareholders.
Conclusion
In conclusion, the board of directors of a joint stock company is elected by the shareholders of the company, who are the owners of the company. The board of directors plays a crucial role in the management of the company, setting its strategic direction and overseeing its financial performance. The board of directors has a fiduciary duty to act in the best interests of the company and its shareholders.
A joint stock company is a type of business organization that issues shares of stock to its investors. The ownership of a joint stock company is divided into shares, which are traded on the stock market. The board of directors is the governing body of a joint stock company, responsible for making strategic decisions and overseeing the management of the company.
Election of the Board of Directors
The board of directors of a joint stock company is elected by the shareholders of the company. Shareholders are the owners of the company, and they have the right to vote for the board of directors. The voting process usually takes place at the annual general meeting (AGM) of the company, where the shareholders gather to discuss the company's performance and elect the board of directors.
Role of the Board of Directors
The board of directors is responsible for the overall management of the company, including setting the company's strategic direction, appointing and supervising the management team, and overseeing the financial performance of the company. The board of directors also has a fiduciary duty to act in the best interests of the company and its shareholders.
Conclusion
In conclusion, the board of directors of a joint stock company is elected by the shareholders of the company, who are the owners of the company. The board of directors plays a crucial role in the management of the company, setting its strategic direction and overseeing its financial performance. The board of directors has a fiduciary duty to act in the best interests of the company and its shareholders.
The business plan:- a)helps in determining the viability of the venture in a designated market
- b)helps in providing guidance to the entrepreneur in organizing his/her planning activities
- c)provides room for self-assessment and selfevaluation
- d)all of the above
Correct answer is option 'D'. Can you explain this answer?
The business plan:
a)
helps in determining the viability of the venture in a designated market
b)
helps in providing guidance to the entrepreneur in organizing his/her planning activities
c)
provides room for self-assessment and selfevaluation
d)
all of the above
|
|
Arun Yadav answered |
A business plan is a written document that describes in detail how a business, usually a startup, defines its objectives and how it is to go about achieving its goals. A business plan lays out a written roadmap for the firm from marketing, financial, and operational standpoints.
The 3 most important purposes of a business plan are:
The 3 most important purposes of a business plan are:
- to create an effective strategy for growth,
- to determine your future financial needs, and
- to attract investors (including angel investors and VC funding) and lenders.
State Whether the Following Statements are True or False.
Q. A business plan is valuable only to the enterprise.- a)True
- b)False
Correct answer is option 'B'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. A business plan is valuable only to the enterprise.
Q. A business plan is valuable only to the enterprise.
a)
True
b)
False
|
|
Priyanka Khatri answered |
A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.
Varun along with his friends had a brilliant idea to manufacture an air conditioner which will also act as an air purifier. The idea was new and the market did not have such a successful product. For starting the unit, they were in need of huge funds, so they decided to approach Shankar, a successful businessman and who is also a venture capitalist. However, Shankar said that he was very busy and if they could pitch their idea within a span of 3 minutes, he was ready to hear it. Which format of Business plan will Varun and his friends would have to use?- a)Elevator Pitch
- b)A pitch deck with oral narrative
- c)A written presentation for external stakeholders
- d)An internal operational plan
Correct answer is option 'A'. Can you explain this answer?
Varun along with his friends had a brilliant idea to manufacture an air conditioner which will also act as an air purifier. The idea was new and the market did not have such a successful product. For starting the unit, they were in need of huge funds, so they decided to approach Shankar, a successful businessman and who is also a venture capitalist. However, Shankar said that he was very busy and if they could pitch their idea within a span of 3 minutes, he was ready to hear it. Which format of Business plan will Varun and his friends would have to use?
a)
Elevator Pitch
b)
A pitch deck with oral narrative
c)
A written presentation for external stakeholders
d)
An internal operational plan
|
Neha Sharma answered |
An elevator pitch is a brief, persuasive speech that you use to spark interest in what your organization does. You can also use them to create interest in a project, idea, or product – or in yourself. A good elevator pitch should last no longer than a short elevator ride of 20 to 30 seconds, hence the name.
6 Keys To Delivering A Powerful Elevator Pitch
6 Keys To Delivering A Powerful Elevator Pitch
- Know exactly what you want the outcome to be.
- Tell your audience what they'll get from your proposal.
- Speak in your own authentic voice.
- Control movement to attract your audience.
- Break down each talking point.
- Close in an unforgettable way.
Shillong is famous for its pristine beauty. Ariel Pvt. Ltd. wanted to build an eco-friendly amusement park which will not only be known for fun activities but will also educate the public about various sustainable development home projects. The company felt that it is their duty to educate the present generation about Do-it yourself projects. This will bring awareness about saving our environment for a better future. She put her idea before the venture capitalists by making an entertaining slide show and oral narration. She also presented the executive summary of her proposed venture and a few key graphs. The format of business plan used by Aru is A pitch deck with oral narrative. Mention whether the identified format is true or false.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
Shillong is famous for its pristine beauty. Ariel Pvt. Ltd. wanted to build an eco-friendly amusement park which will not only be known for fun activities but will also educate the public about various sustainable development home projects. The company felt that it is their duty to educate the present generation about Do-it yourself projects. This will bring awareness about saving our environment for a better future. She put her idea before the venture capitalists by making an entertaining slide show and oral narration. She also presented the executive summary of her proposed venture and a few key graphs. The format of business plan used by Aru is A pitch deck with oral narrative. Mention whether the identified format is true or false.
a)
True
b)
False
|
|
Amita Das answered |
- Tourism Finance Corporation of India Ltd. (TFCI) is an Indian Financial Institution, set-up in 1989 upon the recommendations of the National Committee of Tourism under the aegis of Planning Commission.
- TFCI has assisted a third of the total capacity of branded hotels in India till date.
- TFCI provides all forms of financial assistance to enterprises for setting and developing travel and travel related activities, facilities and services. It also coordinates and formulates policies and strategies related to the financing of tourism projects.
State Whether the Following Statements are True or False.
Q. The objective of the production plan is to plan the work in a manner that each step to be taken in the right place, right degree, right time and more efficiently.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. The objective of the production plan is to plan the work in a manner that each step to be taken in the right place, right degree, right time and more efficiently.
Q. The objective of the production plan is to plan the work in a manner that each step to be taken in the right place, right degree, right time and more efficiently.
a)
True
b)
False
|
Arnav Kulkarni answered |
Production Plan Objective
The objective of the production plan is to plan the work in a manner that each step to be taken in the right place, right degree, right time, and more efficiently.
Explanation
- The production plan plays a crucial role in ensuring that the production process is organized and runs smoothly.
- By planning each step carefully, the production plan helps to ensure that resources are utilized effectively and efficiently.
- It involves determining what needs to be produced, how it will be produced, when it will be produced, and who will be responsible for each task.
- The ultimate goal is to optimize the production process to meet the demand for the product while minimizing waste and maximizing efficiency.
- By ensuring that each step is taken in the right place, right degree, and right time, the production plan helps to streamline operations and improve overall productivity.
In conclusion, the statement is true as the primary objective of the production plan is to plan work in such a way that each step is carried out in the right place, right degree, right time, and with maximum efficiency.
The objective of the production plan is to plan the work in a manner that each step to be taken in the right place, right degree, right time, and more efficiently.
Explanation
- The production plan plays a crucial role in ensuring that the production process is organized and runs smoothly.
- By planning each step carefully, the production plan helps to ensure that resources are utilized effectively and efficiently.
- It involves determining what needs to be produced, how it will be produced, when it will be produced, and who will be responsible for each task.
- The ultimate goal is to optimize the production process to meet the demand for the product while minimizing waste and maximizing efficiency.
- By ensuring that each step is taken in the right place, right degree, and right time, the production plan helps to streamline operations and improve overall productivity.
In conclusion, the statement is true as the primary objective of the production plan is to plan work in such a way that each step is carried out in the right place, right degree, right time, and with maximum efficiency.
Gopi, in order to promote local craftsmen of Gujarat, formed an organization where in the persons voluntarily associate themselves to promote common economic interest. The basic purpose of this organization was to help these craftsmen to find market for their products. It had a managing committee that was elected on the basis of ‘one member one vote’. The form of business organization set up by Gopi is co-operative organisation. Mention whether the identified form of organisation is true or false.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
Gopi, in order to promote local craftsmen of Gujarat, formed an organization where in the persons voluntarily associate themselves to promote common economic interest. The basic purpose of this organization was to help these craftsmen to find market for their products. It had a managing committee that was elected on the basis of ‘one member one vote’. The form of business organization set up by Gopi is co-operative organisation. Mention whether the identified form of organisation is true or false.
a)
True
b)
False
|
Kiran Mehta answered |
Co-operative organization;
Features:
Features:
- ‘Formed an organization where in the persons voluntarily associate…..’- voluntary association, anybody can become a member of a co-operative society
- ‘managing committee that was elected in the basis of one member one vote’- democratic management, the management of the co-operative society is democratically elected.
- ‘the purpose of this organization is to help these craftsmen to find market for their products’- service motive, the main objective of a co-operative society is to provide service to it’s members and not to earn profits.
The structure in which there is separation of ownership and management is called- a)Sole proprietorship
- b)Partnership
- c)Company
- d)A business organisations
Correct answer is option 'C'. Can you explain this answer?
The structure in which there is separation of ownership and management is called
a)
Sole proprietorship
b)
Partnership
c)
Company
d)
A business organisations
|
Ishan Choudhury answered |
- Company is the form of business organisation in which there is a separation of ownership and management.
- Company has a separate legal entity from its members.
- Management professionals of the firm are not considered as the owners of the firm.
The Karta in Joint Hindu Family business has- a)Limited liability
- b)Unlimited liability
- c)No liability for debts
- d)Joint liability
Correct answer is option 'B'. Can you explain this answer?
The Karta in Joint Hindu Family business has
a)
Limited liability
b)
Unlimited liability
c)
No liability for debts
d)
Joint liability
|
|
Amita Das answered |
The senior-most male member of the Joint Hindu Family is considered as the Karta of family and he has infinite powers and control over the business. But the main drawback is the unlimited liability associated with the position i.e. his personal assets can be used to payoff the debts, if need arises.
Which of the following elements of plan relates to evaluation and appraisal of work performed.- a)Dispatching
- b)Routing
- c)Scheduling
- d)Follow-Up
Correct answer is option 'D'. Can you explain this answer?
Which of the following elements of plan relates to evaluation and appraisal of work performed.
a)
Dispatching
b)
Routing
c)
Scheduling
d)
Follow-Up
|
|
Kiran Mehta answered |
Top 7 elements ideal employee performance appraisal
- Defined Goals and Objectives.
- Continuous Feedback.
- Configurations Flexibility.
- Self Evaluation.
- Compensation and Rewards.
- People Analytics.
- Performance improvement plan.
- Overall Assessment.
State Whether the Following Statements are True or False.
Q. The marketing plan is a guideline regarding the marketing objectives, strategies and activities to be followed by any enterprise.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. The marketing plan is a guideline regarding the marketing objectives, strategies and activities to be followed by any enterprise.
Q. The marketing plan is a guideline regarding the marketing objectives, strategies and activities to be followed by any enterprise.
a)
True
b)
False
|
|
Vikas Kapoor answered |
The marketing plan describes how the company will use the marketing mix product, promotion, place, and price to achieve its marketing objectives effectively within the competitive market environment. The marketing plan also focuses the company's resources on reaching target customers and driving them to act.
State Whether the Following Statements are True or False.
Q. A single person can constitute a company.- a)True
- b)False
Correct answer is option 'B'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. A single person can constitute a company.
Q. A single person can constitute a company.
a)
True
b)
False
|
|
Priyanka Khatri answered |
A single person could not incorporate a Company previously. One Person Company (OPC) is a company incorporated by a single person. Before the enforcement of the Companies Act, 2013, a single person could not establish a company.
State Whether the Following Statements are True or False.
Q. Partnership is the outcome of a contract.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. Partnership is the outcome of a contract.
Q. Partnership is the outcome of a contract.
a)
True
b)
False
|
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Arun Yadav answered |
- A partnership agreement is a contract between partners in a partnership which sets out the terms and conditions of the relationship between the partners, including: Percentages of ownership and distribution of profits and losses.
- A partnership agreement allows partners to control how to address complex matters within the arrangement while protecting each partner's overall interests.
Vinita, Bhavana, Rani and Nandini are all good friends in the age group of 15-17 years of age. All of them decided together to start a business venture of making soaps at home using natural ingredients. They decided to name their venture as ‘O&HM’ meaning Organic and Home Made. They spoke about their venture to their parents and asked them if their business could be registered so that it will be easy to divide the profits. Vinita suggested that they should register it as a Partnership firm. Can they form a partnership firm?- a)No, they cannot form a partnership firm since all of them are minors
- b)Yes, they can form a partnership firm
- c)No, since minimum number of people required to form a partnership is 10
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
Vinita, Bhavana, Rani and Nandini are all good friends in the age group of 15-17 years of age. All of them decided together to start a business venture of making soaps at home using natural ingredients. They decided to name their venture as ‘O&HM’ meaning Organic and Home Made. They spoke about their venture to their parents and asked them if their business could be registered so that it will be easy to divide the profits. Vinita suggested that they should register it as a Partnership firm. Can they form a partnership firm?
a)
No, they cannot form a partnership firm since all of them are minors
b)
Yes, they can form a partnership firm
c)
No, since minimum number of people required to form a partnership is 10
d)
None of the above
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Subham Roy answered |
"Nature's Touch Soaps".
In a co-operative society, the principle followed is- a)One share one vote
- b)One man one vote
- c)No vote
- d)Multiple votes
Correct answer is option 'B'. Can you explain this answer?
In a co-operative society, the principle followed is
a)
One share one vote
b)
One man one vote
c)
No vote
d)
Multiple votes
|
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Priyanka Khatri answered |
A cooperative society is the association of people who united voluntarily to meet their economic, cultural and social needs. Decision making in this society takes place by following the main principle i.e. "One man, One vote".
Given below are the formats of a business plan with their meaning. Match them correctly.
- a)A. (iii), B. (ii), C. (iv), D. (i)
- b)A. (ii), B. (iii), C. (iv), D. (i)
- c)A. (ii), B. (iii), C. (i), D. (iv)
- d)A. (ii), B. (i), C. (iii), D. (iv)
Correct answer is option 'B'. Can you explain this answer?
Given below are the formats of a business plan with their meaning. Match them correctly.
a)
A. (iii), B. (ii), C. (iv), D. (i)
b)
A. (ii), B. (iii), C. (iv), D. (i)
c)
A. (ii), B. (iii), C. (i), D. (iv)
d)
A. (ii), B. (i), C. (iii), D. (iv)
|
|
Ishan Choudhury answered |
Correct Match:
Given below are the elements of operational plan with their meaning. Match them correctly.
- a)A. (iii), B. (iv), C. (i), D. (ii)
- b)A. (ii), B. (iv), C. (iii), D. (i)
- c)A. (iii), B. (i), C. (iv), D. (ii)
- d)A. (iii), B. (ii), C. (i), D. (iv)
Correct answer is option 'A'. Can you explain this answer?
Given below are the elements of operational plan with their meaning. Match them correctly.
a)
A. (iii), B. (iv), C. (i), D. (ii)
b)
A. (ii), B. (iv), C. (iii), D. (i)
c)
A. (iii), B. (i), C. (iv), D. (ii)
d)
A. (iii), B. (ii), C. (i), D. (iv)
|
|
Vikas Kapoor answered |
State Whether the Following Statements are True or False.
Q. The liability of the shareholders of a company is normally unlimited.- a)True
- b)False
Correct answer is option 'B'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. The liability of the shareholders of a company is normally unlimited.
Q. The liability of the shareholders of a company is normally unlimited.
a)
True
b)
False
|
|
Naina Sharma answered |
Unlimited liability refers to the full legal responsibility that business owners and partners assume for all business debts. This liability is not capped, and obligations can be paid through the seizure and sale of owners' personal assets, which is different than the popular limited liability business structure.
State Whether the Following Statements are True or False.
Q. Sales tax is levied on the sale of a commodity.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. Sales tax is levied on the sale of a commodity.
Q. Sales tax is levied on the sale of a commodity.
a)
True
b)
False
|
|
Ishan Choudhury answered |
A sales tax levied on the manufacture, purchase, sale, or consumption of a specific type of commodity is known as an excise tax. Whereas excises may be based either on quantities of the taxed product (specific excises) or on value, general sales taxes are inherently value-based taxes.
State Whether the Following Statements are True or False.
Q. Proforma investment decisions relates to how the enterprise funds are required in different assets so that the enterprise is able to earn the highest possible returns on investment.- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
State Whether the Following Statements are True or False.
Q. Proforma investment decisions relates to how the enterprise funds are required in different assets so that the enterprise is able to earn the highest possible returns on investment.
Q. Proforma investment decisions relates to how the enterprise funds are required in different assets so that the enterprise is able to earn the highest possible returns on investment.
a)
True
b)
False
|
|
Arun Yadav answered |
- Pro forma, Latin for “as a matter of form” or “for the sake of form”, is a method of calculating financial results using certain projections or presumptions.
- Pro forma financials may not be GAAP compliant but can be issued to the public to highlight certain items for potential investors.
- They can also be used internally by management for aiding in business decisions.
- It's illegal for publicly traded companies to mislead investors with pro forma financial results that do not use the most conservative possible estimates of revenue and expense.
Chapter doubts & questions for Entrepreneurial Planning - Entrepreneurship Class 12 2025 is part of Commerce exam preparation. The chapters have been prepared according to the Commerce exam syllabus. The Chapter doubts & questions, notes, tests & MCQs are made for Commerce 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests here.
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Entrepreneurship Class 12
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