Test: Nature & Significance Of Management - 1


10 Questions MCQ Test Crash Course of Business Studies(BST)- Class 12 | Test: Nature & Significance Of Management - 1


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This mock test of Test: Nature & Significance Of Management - 1 for Commerce helps you for every Commerce entrance exam. This contains 10 Multiple Choice Questions for Commerce Test: Nature & Significance Of Management - 1 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Nature & Significance Of Management - 1 quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Nature & Significance Of Management - 1 exercise for a better result in the exam. You can find other Test: Nature & Significance Of Management - 1 extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

Which one of the following is NOT an Auxiliary to trade? 

Solution:
QUESTION: 2

Name the activity of commerce that removes the hindrance of time.

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QUESTION: 3

Which of the following is not a characteristic of a business activity?

Solution:

Wages is not a characteristic of a business activity. The payment of receipt of wages is not a proof of a business activity, so it is not one of the characteristics of business.

QUESTION: 4

Which one of the following is NOT the objective of the business?

Solution:
QUESTION: 5

What reward an entrepreneur gets for risk bearing in business?

Solution:

Profit is an exclusive reward for the entrepreneur, for making business decision under unpredictable and uncertain economic condition. In short Knight theory implies that uninsurable risks are uncertainty of business and Profit is the reward for uncertainty bearing.

QUESTION: 6

Which one of the following is an economic activity in which specialized knowledge is required?

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QUESTION: 7

Why a business should earn profit?

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QUESTION: 8

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

Solution:

“Business is a human activities directed towards producing or acquiring wealth through buying and selling goods”.Sale or Exchange of Goods and Services Directly or indirectly, business involves transfer of exchange of goods and services for value.

QUESTION: 9

Bad debts due to non-payment of debt by debtor is an example of which type of business risk?

Solution:
QUESTION: 10

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

Solution:

Innovative business can gain much profit easily . And new generation like to purchase new and latest technology product. So innovation is usually considered objective of a business that want to earn profit.