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Commerce Exam  >  Commerce Tests  >  Test: Resource Mobilization - 4 - Commerce MCQ

Test: Resource Mobilization - 4 - Commerce MCQ


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10 Questions MCQ Test - Test: Resource Mobilization - 4

Test: Resource Mobilization - 4 for Commerce 2024 is part of Commerce preparation. The Test: Resource Mobilization - 4 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Resource Mobilization - 4 MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Resource Mobilization - 4 below.
Solutions of Test: Resource Mobilization - 4 questions in English are available as part of our course for Commerce & Test: Resource Mobilization - 4 solutions in Hindi for Commerce course. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free. Attempt Test: Resource Mobilization - 4 | 10 questions in 10 minutes | Mock test for Commerce preparation | Free important questions MCQ to study for Commerce Exam | Download free PDF with solutions
Test: Resource Mobilization - 4 - Question 1
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What is the definition of resources in the context of economic activities?

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Resources, in the context of economic activities, refer to anything or means, whether physical or non-physical, that is required to support organizational activities in order to achieve pre-determined organizational goals. This can include physical materials, financial assets, equipment, and more.
Test: Resource Mobilization - 4 - Question 2
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Which term describes a trusted guide, advisor, and wise individual, especially in occupational settings?

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A mentor is a trusted guide, advisor, and wise individual, especially in occupational settings. They provide valuable guidance and support to others, helping them grow personally and professionally.
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Test: Resource Mobilization - 4 - Question 3
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What is the primary goal of mentorship?

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The primary goal of mentorship is to foster the personal and professional growth of someone else. It involves sharing knowledge, skills, information, and perspective to help individuals develop and reach their potential.
Test: Resource Mobilization - 4 - Question 4
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Who is referred to as a "Business Mentor"?
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A "Business Mentor" is typically an experienced entrepreneur who is well-established, capable, and willing to offer invaluable advice, support, and guidance to a new entrepreneur.
Test: Resource Mobilization - 4 - Question 5
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What term is synonymous with "business cycle" and "economic cycle"?
Detailed Solution for Test: Resource Mobilization - 4 - Question 5
The term "Boom-bust cycle" is synonymous with both "business cycle" and "economic cycle." It refers to the recurring pattern of economic expansion (boom) followed by contraction (bust).
Test: Resource Mobilization - 4 - Question 6
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What does "Owner’s Fund" represent in business?
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"Owner’s Fund" represents the portion of capital that belongs entirely to the entrepreneur. It consists of profits retained within the business by the entrepreneur.
Test: Resource Mobilization - 4 - Question 7
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What are "Debt-financing" methods commonly used by entrepreneurs?
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"Debt-financing" methods commonly used by entrepreneurs include loans and advances. In debt-financing, entrepreneurs borrow funds and are required to repay both the borrowed amount and interest within a specific term.
Test: Resource Mobilization - 4 - Question 8
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What term describes the credit extended by a supplier to a buyer, where goods are sold on credit instead of cash?
Detailed Solution for Test: Resource Mobilization - 4 - Question 8
"Trade credit" refers to the credit extended by a supplier (seller) to the buyer, where goods are sold on credit instead of for cash. It allows buyers to purchase goods and pay for them at a later date.
Test: Resource Mobilization - 4 - Question 9
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What is the "Gestation Period" in business?
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The "Gestation Period" in business refers to the period between the initial investment in a project or business and the commencement of commercial production. It represents the time required to set up and prepare for operations.
Test: Resource Mobilization - 4 - Question 10
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How is "Goodwill" defined in the context of business?
Detailed Solution for Test: Resource Mobilization - 4 - Question 10
In the context of business, "Goodwill" refers to the difference between the value of the business (including intangible assets like reputation and customer loyalty) and its tangible assets. It represents the intangible value that someone is willing to pay for the business beyond its physical assets.
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