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Can you explain the answer of this question below:
This a MCQ (Multiple Choice Question) based practice test of Chapter 1 - Nature and Significance of Business of Business Studies of Class XI (11) for the quick revision/preparation of School Board examinations
Q Which of the following does not characterise business activity?
- A:Sale or exchange of
- B:Production of goods
- C:Presence of risk and services
- D:Salary or wages goods and services
The answer is d.
Verified Answer
Can you explain the answer of this question below:This a MCQ (Multiple...
Salary or wages are paid as remuneration to workers who work for others and is not a characteristic of business.
This question is part of UPSC exam. View all Commerce courses
Most Upvoted Answer
Can you explain the answer of this question below:This a MCQ (Multiple...
**Explanation:**
Business activity refers to the various activities carried out by individuals or organizations to earn a profit through the sale or exchange of goods and services. It involves various elements that characterize business activity. Let's examine each option to understand which one does not characterize business activity:
**a) Sale or exchange of goods and services:**
The sale or exchange of goods and services is one of the fundamental activities of business. Businesses engage in the production or procurement of goods and services to offer them for sale or exchange in the market. This activity is essential for generating revenue and earning a profit.
**b) Production of goods and services:**
The production of goods and services is another key aspect of business activity. Businesses may engage in manufacturing, assembling, or producing goods, or they may offer various services to meet the needs and demands of customers. This production activity is crucial for meeting market demand and generating revenue.
**c) Presence of risk:**
The presence of risk is an inherent characteristic of business activity. Business involves uncertainty and the possibility of incurring losses. Various risks such as market risk, financial risk, operational risk, and legal risk are associated with business activities. Businesses must manage and mitigate these risks to ensure their sustainability and profitability.
**d) Salary or wages:**
The option 'Salary or wages' does not characterize business activity. Salary or wages are related to the compensation paid to employees for their work or services. While businesses employ workers and pay them salaries or wages, it is not the defining characteristic of business activity. Business activity primarily revolves around the production and sale of goods and services, and the payment of salaries or wages is a consequence of employing individuals to carry out these activities.
In conclusion, the option 'd) Salary or wages' does not characterise business activity as it is not a defining characteristic but rather a consequence of employing individuals to engage in the production and sale of goods and services.
Business activity refers to the various activities carried out by individuals or organizations to earn a profit through the sale or exchange of goods and services. It involves various elements that characterize business activity. Let's examine each option to understand which one does not characterize business activity:
**a) Sale or exchange of goods and services:**
The sale or exchange of goods and services is one of the fundamental activities of business. Businesses engage in the production or procurement of goods and services to offer them for sale or exchange in the market. This activity is essential for generating revenue and earning a profit.
**b) Production of goods and services:**
The production of goods and services is another key aspect of business activity. Businesses may engage in manufacturing, assembling, or producing goods, or they may offer various services to meet the needs and demands of customers. This production activity is crucial for meeting market demand and generating revenue.
**c) Presence of risk:**
The presence of risk is an inherent characteristic of business activity. Business involves uncertainty and the possibility of incurring losses. Various risks such as market risk, financial risk, operational risk, and legal risk are associated with business activities. Businesses must manage and mitigate these risks to ensure their sustainability and profitability.
**d) Salary or wages:**
The option 'Salary or wages' does not characterize business activity. Salary or wages are related to the compensation paid to employees for their work or services. While businesses employ workers and pay them salaries or wages, it is not the defining characteristic of business activity. Business activity primarily revolves around the production and sale of goods and services, and the payment of salaries or wages is a consequence of employing individuals to carry out these activities.
In conclusion, the option 'd) Salary or wages' does not characterise business activity as it is not a defining characteristic but rather a consequence of employing individuals to engage in the production and sale of goods and services.
Community Answer
Can you explain the answer of this question below:This a MCQ (Multiple...
The correct answer is D . because we know that business is an economic activity nd it is concerned with the sell & purchase of goods & services.the salary nd wages are called as reward or renumeration for the business that's why it is not the characteristics of business activity.
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Can you explain the answer of this question below:This a MCQ (Multiple Choice Question) based practice test of Chapter 1 - Nature and Significance of Business of Business Studies of Class XI (11) for the quick revision/preparation of School Board examinationsQ Which of the following does not characterise business activity?A:Sale or exchange ofB:Production of goodsC:Presence of risk and servicesD:Salary or wages goods and servicesThe answer is d.
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Can you explain the answer of this question below:This a MCQ (Multiple Choice Question) based practice test of Chapter 1 - Nature and Significance of Business of Business Studies of Class XI (11) for the quick revision/preparation of School Board examinationsQ Which of the following does not characterise business activity?A:Sale or exchange ofB:Production of goodsC:Presence of risk and servicesD:Salary or wages goods and servicesThe answer is d. for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Can you explain the answer of this question below:This a MCQ (Multiple Choice Question) based practice test of Chapter 1 - Nature and Significance of Business of Business Studies of Class XI (11) for the quick revision/preparation of School Board examinationsQ Which of the following does not characterise business activity?A:Sale or exchange ofB:Production of goodsC:Presence of risk and servicesD:Salary or wages goods and servicesThe answer is d. covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:This a MCQ (Multiple Choice Question) based practice test of Chapter 1 - Nature and Significance of Business of Business Studies of Class XI (11) for the quick revision/preparation of School Board examinationsQ Which of the following does not characterise business activity?A:Sale or exchange ofB:Production of goodsC:Presence of risk and servicesD:Salary or wages goods and servicesThe answer is d..
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