All Courses
Get the App Signup / Login
Sign in Open App
B Com Exam  >  B Com Tests  >  Entrepreneurship & Small Businesses  >  Test: Types of Business Entities - B Com MCQ

Test: Types of Business Entities - B Com MCQ


Test Description

10 Questions MCQ Test Entrepreneurship & Small Businesses - Test: Types of Business Entities

Test: Types of Business Entities for B Com 2024 is part of Entrepreneurship & Small Businesses preparation. The Test: Types of Business Entities questions and answers have been prepared according to the B Com exam syllabus.The Test: Types of Business Entities MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Types of Business Entities below.
Solutions of Test: Types of Business Entities questions in English are available as part of our Entrepreneurship & Small Businesses for B Com & Test: Types of Business Entities solutions in Hindi for Entrepreneurship & Small Businesses course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Types of Business Entities | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study Entrepreneurship & Small Businesses for B Com Exam | Download free PDF with solutions
Test: Types of Business Entities - Question 1
Save

What is the primary classification criterion used to differentiate Micro, Small, and Medium Enterprises (MSMEs) in terms of investment?

Detailed Solution for Test: Types of Business Entities - Question 1
MSMEs are classified based on their investment in plant and machinery (for the manufacturing sector) or equipment (for the service sector). The investment thresholds for micro, small, and medium enterprises vary accordingly.
Test: Types of Business Entities - Question 2
Save

What is the investment limit for a "Small" enterprise in the manufacturing sector according to the classification provided?

Detailed Solution for Test: Types of Business Entities - Question 2
A "Small" enterprise in the manufacturing sector is defined by an investment range of 25 lakhs to 5 crores in plant and machinery.
1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: Types of Business Entities - Question 3
Save

Which sector benefits from the majority of MSME contributions to manufacturing output and exports?

Detailed Solution for Test: Types of Business Entities - Question 3
MSMEs play a crucial role in the manufacturing sector, contributing significantly to manufacturing output and exports. They supply raw materials, components, and finished goods to larger industries, thereby supporting the overall economy.
Test: Types of Business Entities - Question 4
Save
In the context of business groups, what is the defining factor for holding key managerial positions?
Detailed Solution for Test: Types of Business Entities - Question 4
Key managerial positions in a business group are held based on skill and talent rather than status or association with a specific family. This ensures effective management across the group's companies.
Test: Types of Business Entities - Question 5
Save
What is the primary characteristic that distinguishes a family business from other types of businesses?
Detailed Solution for Test: Types of Business Entities - Question 5
A family business involves multiple generations of a family, where key managerial positions and decision-making authority are typically held by family members, leading to unique dynamics and challenges.
Test: Types of Business Entities - Question 6
Save
Which generation is often associated with "holding" a family business, according to the common saying?
Detailed Solution for Test: Types of Business Entities - Question 6
The common saying suggests that the second generation of a family business is associated with "holding" the business after it has been built by the first generation.
Test: Types of Business Entities - Question 7
Save
What is one of the key managerial roles in a small business that involves overseeing employees and multiple projects simultaneously?
Detailed Solution for Test: Types of Business Entities - Question 7
Managers in small businesses often need to multi-task, overseeing employees and various projects while prioritizing tasks efficiently.
Test: Types of Business Entities - Question 8
Save
What leadership trait inspires employees to give their best by treating them with respect and leading by example?
Detailed Solution for Test: Types of Business Entities - Question 8
The leadership trait that involves treating employees with respect, using constructive criticism, and leading by example inspires them to give their best.
Test: Types of Business Entities - Question 9
Save
Which skill involves evaluating information to make quick and effective choices, especially in a fast-paced environment?
Detailed Solution for Test: Types of Business Entities - Question 9
In a small business, decision-making skill is essential for evaluating information and making effective choices, especially when quick actions are required.
Test: Types of Business Entities - Question 10
Save
Apart from overseeing employees, what is another significant aspect of a manager's role in a small business, involving finding ways to improve company procedures?
Detailed Solution for Test: Types of Business Entities - Question 10
Business development skills involve identifying areas for improvement in company procedures, streamlining processes, and cutting costs to enhance overall efficiency and performance.
49 videos|74 docs|22 tests
Join Course
Information about Test: Types of Business Entities Page
In this test you can find the Exam questions for Test: Types of Business Entities solved & explained in the simplest way possible. Besides giving Questions and answers for Test: Types of Business Entities, EduRev gives you an ample number of Online tests for practice
Download as PDF

Important Questions for Types of Business Entities

Find all the important questions for Types of Business Entities at EduRev.Get fully prepared for Types of Business Entities with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Types of Business Entities syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Types of Business Entities resources.

Types of Business Entities MCQs with Answers

Prepare for the Types of Business Entities within the B Com exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Types of Business Entities Entrepreneurship & Small Businesses

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Types of Business Entities with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup