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Commerce Exam  >  Commerce Tests  >  Entrepreneurship Class 11  >  Test: Resource Mobilization - 1 - Commerce MCQ

Test: Resource Mobilization - 1 - Commerce MCQ


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10 Questions MCQ Test Entrepreneurship Class 11 - Test: Resource Mobilization - 1

Test: Resource Mobilization - 1 for Commerce 2024 is part of Entrepreneurship Class 11 preparation. The Test: Resource Mobilization - 1 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Resource Mobilization - 1 MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Resource Mobilization - 1 below.
Solutions of Test: Resource Mobilization - 1 questions in English are available as part of our Entrepreneurship Class 11 for Commerce & Test: Resource Mobilization - 1 solutions in Hindi for Entrepreneurship Class 11 course. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free. Attempt Test: Resource Mobilization - 1 | 10 questions in 10 minutes | Mock test for Commerce preparation | Free important questions MCQ to study Entrepreneurship Class 11 for Commerce Exam | Download free PDF with solutions
Test: Resource Mobilization - 1 - Question 1
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What are intangible resources in an organization?

Detailed Solution for Test: Resource Mobilization - 1 - Question 1
Intangible resources in an organization are resources that are neither seen nor felt but are essential for the organization's success. These include factors like brand value, intellectual property, goodwill, and reputation, which are critical for the organization's long-term profitability and growth.
Test: Resource Mobilization - 1 - Question 2
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What is the primary role of financial planning in setting up a business?

Detailed Solution for Test: Resource Mobilization - 1 - Question 2
Financial planning plays a crucial role in setting up a business by ensuring the efficient utilization of resources. It helps in allocating funds effectively to meet business objectives, which includes not only raising capital but also managing it wisely to achieve sustainable growth.
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Test: Resource Mobilization - 1 - Question 3
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What is the term used for long-term funds contributed by shareholders and creditors to a business?

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The term used for long-term funds contributed by shareholders and creditors to a business is "capitalization." It includes various forms of funds like bonds, debentures, loans, reserves, and share capital.
Test: Resource Mobilization - 1 - Question 4
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Why is it essential for entrepreneurs to seek professional expert services while establishing an enterprise?
Detailed Solution for Test: Resource Mobilization - 1 - Question 4
Seeking professional expert services while establishing an enterprise is essential because it provides access to specialized expertise, reduces risk, and allows entrepreneurs to benefit from the knowledge and experience of professionals in various domains, such as legal, financial, and marketing. This can lead to more efficient operations and better chances of success.
Test: Resource Mobilization - 1 - Question 5
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What is the term for the process of procuring the required resources from resource providers to realize an organization's goals?
Detailed Solution for Test: Resource Mobilization - 1 - Question 5
The term for the process of procuring the required resources from resource providers to realize an organization's goals is "resource mobilization." It involves acquiring resources at the right time, right prices, and in the right type to optimize their utilization for achieving organizational goals.
Test: Resource Mobilization - 1 - Question 6
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Which of the following is NOT an example of physical resources?
Detailed Solution for Test: Resource Mobilization - 1 - Question 6
Brand value is not an example of physical resources. Physical resources are tangible assets like buildings, machinery, and plants, whereas brand value is an intangible asset.
Test: Resource Mobilization - 1 - Question 7
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Why is it important for an entrepreneur to consider the nature and type of the activity when deciding about the required resources?
Detailed Solution for Test: Resource Mobilization - 1 - Question 7
Considering the nature and type of the activity when deciding about required resources is important because it helps align resources with the specific needs and objectives of the activity. This ensures that the resources are used efficiently and effectively.
Test: Resource Mobilization - 1 - Question 8
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What is the term for the value of a business that exceeds the total value of its tangible assets?
Detailed Solution for Test: Resource Mobilization - 1 - Question 8
The term for the value of a business that exceeds the total value of its tangible assets is "goodwill." Goodwill represents the intangible value associated with the business's reputation, customer relationships, and brand.
Test: Resource Mobilization - 1 - Question 9
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Why do entrepreneurs strive to put the right person in the right job at the right time?
Detailed Solution for Test: Resource Mobilization - 1 - Question 9
Entrepreneurs strive to put the right person in the right job at the right time to lower inefficiencies within the organization. This results in reduced costs, lower wastage of resources, and improved productivity, ultimately contributing to the success of the business.
Test: Resource Mobilization - 1 - Question 10
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What is the primary role of managerial staff in achieving efficient utilization of human resources in an enterprise?
Detailed Solution for Test: Resource Mobilization - 1 - Question 10
The primary role of managerial staff in achieving efficient utilization of human resources is to formulate goals, objectives, and policies for the enterprise. They provide direction and guidance to the workforce to ensure that the organization's goals are met.
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