Test: Small Business - 1


10 Questions MCQ Test Business Studies (BST) Class 11 | Test: Small Business - 1


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

Q  In India, the 'Village and Small Industries' Sector consists of both traditional and modern small industries. This sector has ___________subgroups.

Solution:

In India, the ‘village and small industries sector’ consists of both ‘traditional’ and ‘modern’ small industries. This sector has eight subgroups. They are handlooms, handicrafts, coir, sericulture, khadi and village industries, small scale industries and powerlooms.  The last two come under the modern small industries, while the others come under traditional industries. Village and small industries together provide the largest employment opportunities in India.

QUESTION: 2

A tiny unit is defined as an industrial or business enterprise whose investment in plant and machinery is not more than ___________

Solution:

 A tiny industrial unit is defined as an industrial or business enterprise whose investment in plant and machinery is not more than Rs. 25 lakh.

QUESTION: 3

When did India globally become the 7th largest vehicle manufacturer?

Solution:

The correct option is Option C.

In 2009, the government claimed that India has become the seventh largest vehicle producing nation in the world, six years ahead of the set target. "When we were making the Auto Mission Plan (AMP) in 2006, we had projected India to become the seventh largest vehicle producing country in the world by 2016.

QUESTION: 4

Which of the following comes under the Modern Small Industries?

Solution:

Modern small scale industries comprise of units using power driven machinery possessing better production techniques and located mostly in urban areas. They include powerlooms, ancillaries, export oriented units, etc. Modern small industrial units manufacture some of the high value added and sophisticated products like electronic type writers, survey equipments, television sets and other consumer durables.

QUESTION: 5

_____ is defined as one in which the investment in fixed assets of plant and machinery does not exceed rupees one crore.

Solution:

Small scale industries are those industries in which the manufacturing, production and rendering of services are done on a small or micro scale. These industries make a one-time investment in machinery, plants, and industries, but it does not exceed Rs 1 Crore.

QUESTION: 6

The small scale industry can enjoy the status of ________ if it supplies not less than 50% of its production to another industry, referred to as the parent unit.

Solution:

The small scale industry can enjoy the status of an ancillary small industry if it supplies not less than 50 per cent of its production to another industry, referred to as the parent unit

QUESTION: 7

The small scale industry can enjoy the status of _______ unit if it exports more than 50% of its production.

Solution:

The small scale industry can enjoy the status of an export oriented unit if it exports more than 50 per cent of its production. It can avail the incentives like export subsidies and other concessions offered by the government for exporting units.

QUESTION: 8

Small scale industries owned and managed by women entrepreneurs have share capital of not less than __________.

Solution:

Small scale industries owned and managed by women entrepreneurs have share capital of not less than 51 percent.

QUESTION: 9

A small scale service and business enterprise is one whose investment in fixed assets of plant and machinery excluding land and building does not exceed ______

Solution:
QUESTION: 10

Micro enterprises are those whose investment in plant and machinery does not exceed rupees___

Solution:

Micro enterprise: Any entity wherein the investment in plant and machinery does not exceed rupees twenty-five lakhs. Small enterprise: Any entity wherein the investment in plant and machinery does not exceed rupees five crores but also more than rupees twenty-five lakhs.

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