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B Com Exam  >  B Com Tests  >  Entrepreneurship & Small Businesses  >  Test: Micro, Small And Medium Enterprises - B Com MCQ

Test: Micro, Small And Medium Enterprises - B Com MCQ


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10 Questions MCQ Test Entrepreneurship & Small Businesses - Test: Micro, Small And Medium Enterprises

Test: Micro, Small And Medium Enterprises for B Com 2024 is part of Entrepreneurship & Small Businesses preparation. The Test: Micro, Small And Medium Enterprises questions and answers have been prepared according to the B Com exam syllabus.The Test: Micro, Small And Medium Enterprises MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Micro, Small And Medium Enterprises below.
Solutions of Test: Micro, Small And Medium Enterprises questions in English are available as part of our Entrepreneurship & Small Businesses for B Com & Test: Micro, Small And Medium Enterprises 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: Micro, Small And Medium Enterprises | 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: Micro, Small And Medium Enterprises - Question 1
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What is the classification criterion for a "small enterprise" in the manufacturing sector?

Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 1
In the manufacturing sector, a "small enterprise" is defined as one in which the investment in plant and machinery exceeds Rs. 25 lakhs but does not exceed Rs. 5 crores.
Test: Micro, Small And Medium Enterprises - Question 2
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What is the primary objective of Micro, Small, and Medium Enterprises (MSMEs)?

Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 2
The primary objective of MSMEs is to provide increased employment opportunities, especially in labor-intensive methods, fostering self-employment and professional specialization. They contribute to balanced regional development and higher standards of living, particularly in rural and semi-urban areas.
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Test: Micro, Small And Medium Enterprises - Question 3
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What does MSME stand for?

Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 3
MSME stands for Micro, Small, and Medium Enterprises. These enterprises play a crucial role in various economies due to their employment generation, localized nature, and other unique characteristics.
Test: Micro, Small And Medium Enterprises - Question 4
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What is the role of MSMEs in balanced regional development?
Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 4
MSMEs are often localized in rural and small-town areas, leading to balanced regional development by bringing economic activities and opportunities to regions that may not attract large industries.
Test: Micro, Small And Medium Enterprises - Question 5
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What measure has the government taken to support MSMEs in cases of delayed payments?
Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 5
The government has enacted the "interest on delayed Payments Act," which requires customers of MSMEs to make payments within a specified period. Delays beyond this period attract interest to support MSMEs in cases of late payments.
Test: Micro, Small And Medium Enterprises - Question 6
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Which scheme provides assistance to women entrepreneurs in the form of loans, grants, training, and counseling?
Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 6
TREAD is a scheme that provides trade-related assistance to women entrepreneurs, including financial aid, training, and counseling, to promote their participation in business activities.
Test: Micro, Small And Medium Enterprises - Question 7
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What is the significance of the interest on delayed Payments Act for MSMEs?
Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 7
The interest on delayed Payments Act supports MSMEs by penalizing customers for delayed payments, ensuring timely cash flow for these enterprises and protecting their financial stability.
Test: Micro, Small And Medium Enterprises - Question 8
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What is the key advantage of Micro, Small, and Medium Enterprises (MSMEs) in terms of environmental impact?
Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 8
MSMEs are relatively more environmentally friendly as they often use simple technology and have localized operations, resulting in a reduced environmental footprint compared to larger industrial units.
Test: Micro, Small And Medium Enterprises - Question 9
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What is the primary goal of the National Manufacturing Competitiveness Council (NMCC)?
Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 9
The primary goal of the NMCC is to promote the growth of manufacturing, particularly in clusters or industrial clusters, which involve the concentration of enterprises, including MSMEs, with common opportunities and challenges.
Test: Micro, Small And Medium Enterprises - Question 10
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What is the primary focus of the Prime Minister’s Rozgar Yojna (PMRY)?
Detailed Solution for Test: Micro, Small And Medium Enterprises - Question 10
The primary focus of PMRY is to create jobs by providing assistance for the establishment of small and micro enterprises, ultimately contributing to employment generation and economic growth.
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