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Test: Business Organisation - 1


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30 Questions MCQ Test Business and Commercial Knowledge | Test: Business Organisation - 1

Test: Business Organisation - 1 for CA CPT 2022 is part of Business and Commercial Knowledge preparation. The Test: Business Organisation - 1 questions and answers have been prepared according to the CA CPT exam syllabus.The Test: Business Organisation - 1 MCQs are made for CA CPT 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Business Organisation - 1 below.
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Test: Business Organisation - 1 - Question 1

The activities and processes used in making both tangible and intangible products is known as _____________. 

Test: Business Organisation - 1 - Question 2

What is data?  

Test: Business Organisation - 1 - Question 3

Which of the following is defined as large scale information system used for organizing and managing a firm’s processes across product lines, departments and geographic locations? 

Test: Business Organisation - 1 - Question 4

Which of the following would generally have unlimited liability? 

Test: Business Organisation - 1 - Question 5

The situation when a country imports more than its exports is: 

Test: Business Organisation - 1 - Question 6

Which one of the following statements by a company chairman best reflects the marketing concept? 

Test: Business Organisation - 1 - Question 7

When Nayer Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables? 

Test: Business Organisation - 1 - Question 8

Nestle yoghurt represents which type of product for most consumers? 

Test: Business Organisation - 1 - Question 9

As the production manager of an engineering firm, you went out and bought a metal cutting machine. What you have purchased can best be classified as  

Test: Business Organisation - 1 - Question 10

Physical distribution functions influence

Detailed Solution for Test: Business Organisation - 1 - Question 10

 

Test: Business Organisation - 1 - Question 11

A product's ability that it cannot be used for various purposes in different capacities and under different conditions is termed as__________ 

Test: Business Organisation - 1 - Question 12

Which of the following statements is most suitable for Quality assurance? 

Test: Business Organisation - 1 - Question 13

Which of the following is considered as the pillar of quality? 

Test: Business Organisation - 1 - Question 14

A person needs to buy a medicine in midnight and gets it from a pharmacy, the availability of medicine in the midnight represents following 

Test: Business Organisation - 1 - Question 15

Flow of communication from top to bottom is known as_______ 

Test: Business Organisation - 1 - Question 16

Auditors who are working within the organization are known as_______

Test: Business Organisation - 1 - Question 17

Assets which cannot be physically touched are termed as___________ 

Test: Business Organisation - 1 - Question 18

A plan or an estimate for future expenses and revenues is termed as_________ 

Test: Business Organisation - 1 - Question 19

The minimum number of persons who are legally allowed to operate in a partnership is: 

Test: Business Organisation - 1 - Question 20

Which of the following is not a method of creating a company? 

Test: Business Organisation - 1 - Question 21

An organisation running a business has the following attributes: the assets belong to the organisation, it can create a floating charge over its assets, change in membership does not alter its existence, and members cannot transfer their interests to non-members. What type of organisation is it? 

Test: Business Organisation - 1 - Question 22

What are the limitations of a Free enterprise system?

Detailed Solution for Test: Business Organisation - 1 - Question 22

Correct Answer :- D

Explanation : A free enterprise system, or capitalism, has the specific downfall of uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products. The main goal of the capitalist world is to allow anyone to get up to the top of the world by their own efforts. In reality, only a few people do that.

This is mainly because the resources are expensive. If there are people that have it all, they can get it for cheap because they can make the purchase that will last for a long while before they have to buy it again.

However, capitalism is all about the money! If you can make money on it, then that’s all you need to worry about it. For this reason, companies made it incredibly hard to find information about their products way back in the day. Nowadays, that’s not too hard to find.

Test: Business Organisation - 1 - Question 23

What are the limitations of a Mixed economy?

Test: Business Organisation - 1 - Question 24

The term that indicates ownership, either by individuals or by a business, is ...

Test: Business Organisation - 1 - Question 25

An economic system in which business are allowed to produce any goods and services they wish to is called.

Test: Business Organisation - 1 - Question 26

A situation that occurs when two or more businesses try to sell the same type of product to the same customers is referred to as ...

Test: Business Organisation - 1 - Question 27

The items that consumers buy are called ...

Test: Business Organisation - 1 - Question 28

Things that are needed to produce goods and services are called ...

Test: Business Organisation - 1 - Question 29

An economic system in which private property is almost totally restricted is called ...

Test: Business Organisation - 1 - Question 30

An economic system that has Government restrictions on the actions of individuals and businesses is called ...

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