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Test: Resource Mobilization - 3 - Commerce MCQ


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10 Questions MCQ Test - Test: Resource Mobilization - 3

Test: Resource Mobilization - 3 for Commerce 2024 is part of Commerce preparation. The Test: Resource Mobilization - 3 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Resource Mobilization - 3 MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Resource Mobilization - 3 below.
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Test: Resource Mobilization - 3 - Question 1
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What is the primary prerequisite for an activity to be classified as a business activity?

Detailed Solution for Test: Resource Mobilization - 3 - Question 1
To be classified as a business activity, the primary prerequisite is that it should be undertaken for profit. While capital investment and production of goods are important aspects of business activities, the ultimate goal is to generate a profit.
Test: Resource Mobilization - 3 - Question 2
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What is the maximum limit for investment in plant and machinery to classify an enterprise as a tiny sector business?

Detailed Solution for Test: Resource Mobilization - 3 - Question 2
An enterprise is classified as a tiny sector business if the total investment in plant and machinery does not exceed ? 25 lakhs. This classification is subject to change in the future.
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Test: Resource Mobilization - 3 - Question 3
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Which of the following is NOT a characteristic of cottage and rural industries?

Detailed Solution for Test: Resource Mobilization - 3 - Question 3
Cottage and rural industries are typically characterized by their low capital requirements. They are often run by family members and focus on serving the local community's needs, frequently involving traditional craftsmanship.
Test: Resource Mobilization - 3 - Question 4
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Which category of small-scale enterprise typically supplies more than 50% of its production to its parent unit?
Detailed Solution for Test: Resource Mobilization - 3 - Question 4
Ancillary/Auxiliary Small Units are the category of small-scale enterprises that typically supply more than 50% of their production to their parent unit. These units specialize in producing components for their parent units.
Test: Resource Mobilization - 3 - Question 5
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What is the primary basis for classifying business enterprises based on size in India?
Detailed Solution for Test: Resource Mobilization - 3 - Question 5
In India, the primary basis for classifying business enterprises based on size is the volume of capital invested in plant and machinery. This criterion determines whether an enterprise falls into the small-scale, medium-scale, or large-scale category.
Test: Resource Mobilization - 3 - Question 6
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Which type of small-scale industry is typically operated by women entrepreneurs and requires them to have a capital share of more than 51%?
Detailed Solution for Test: Resource Mobilization - 3 - Question 6
Small-Scale Service and Business Enterprise is typically operated by women entrepreneurs, and they are required to have a capital share of more than 51%. The government provides concessions to such enterprises.
Test: Resource Mobilization - 3 - Question 7
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What distinguishes an ancillary unit from a tiny unit?
Detailed Solution for Test: Resource Mobilization - 3 - Question 7
Ancillary units differ from tiny units in that they supply components to their parent unit and are guaranteed a demand for their products. This relationship with the parent unit sets them apart.
Test: Resource Mobilization - 3 - Question 8
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What distinguishes a micro-business from other small-scale enterprises?
Detailed Solution for Test: Resource Mobilization - 3 - Question 8
Micro-businesses are characterized by having the lowest capital investment among small-scale enterprises. They typically have investments not exceeding ? 25 lakhs.
Test: Resource Mobilization - 3 - Question 9
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What type of industry involves the production of traditional items like mats, shoes, and pottery, often done at home by artisans?
Detailed Solution for Test: Resource Mobilization - 3 - Question 9
Cottage and Rural Industry involves the production of traditional items, often carried out at home by artisans. It is characterized by its small-scale and localized nature.
Test: Resource Mobilization - 3 - Question 10
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Which enterprise category is eligible for subsidies and concessions if it exports more than 50% of its production?
Detailed Solution for Test: Resource Mobilization - 3 - Question 10
Export Oriented enterprises are eligible for subsidies and concessions if they export more than 50% of their production. The government supports these enterprises to promote exports.
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