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Quiz 10
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Q.1
In case of minor acting as a partner, his personal properties are ________.
Liable for the debts of the firm
Not liable for the debts of the firm
Partly liable for the debts of the firm
Only debts of the firm
Q.2
When a partnership is dissolved?
In any case of death of any of the partner
By mutual consent
By insolvency of any of the partner
All of above
Q.3
The liability of a sole proprietor is _______.
Limited to the extent of his capital invested in the business
Limited to the extent of the value of business assets
Limited to the extent of the value of business assets and his all private assets
Limited value of the business assets
Q.4
Oil refinery is a example of
Synthetical industry
Assembling industry
Analytical industry
Processing industry
Q.5
___ is a document in which the regulations which govern the internal management of the company's affairs, the duties, rights and powers of the members are stated.
certificate of trading
memorandum of association
articles of association
prospectus
Q.6
A contract can be a written or spoken agreement.
ture
false
Q.7
That is an e-commerce website
Sincerely Nuts
eBay
Zalora
All of above
Q.8
The features of e-commerce
Interactivity
Global reach
Ubiquity
All of above
Q.9
An offer can be terminated in the following way.
When the offeree notifies the offeror that he does not wish to accept the offer.
Lapse of offer.
Withdrawal of the offer(revocation)
A refusal of counter offer.
All of above
Q.10
SELECT the essential elements of a valid contract.
certainty of term
intention to create legal relations
possibility of performance
All of above
Q.11
Business law include which type of laws.
administrative regulations
federal
state
All of above
Q.12
Transfer of interest exists in the case of
Profession
employment
business
none of these
Q.13
What type of cause is fluctuation of price in the market?
Physical
Human
Economic
Natural
Q.14
Which is not a Nature of Business Risks?
Business risks arise due touncertainties
Risk is an essential part of every business
Degree of risk not depends mainlyupon the nature and size ofbusiness
Profit is the reward for risktaking
Q.15
Which of the following is not a Cause of Business Risks?
Natural causes
Human causes
Economic causes
artistic causes
Q.16
Mohenjodaro werefounded in
Second millennium B.C.
third millennium B.C.
Fourth millennium B.C.
third millennium A.D.
Q.17
What was known as‘Black Gold’ ?
jute
cinnamon
Black Pepper
Saffron
Q.18
In which year and date "Make in India" was launched by the Government of India ?
15 August 2014
25 September 2015
25 September 2014
15 August 2050
Q.19
Economic Activities =
Business + Profession
Business + Employment
Business + Employment
Business + Profession + Employment
Q.20
Commerce includes activities relating to trade and ____________
Supporting
subsidiaries
auxiliaries to trade
none of these
Q.21
Cattlebreeding farms, poultry farms, andfish hatchery come under which type of industries?
Manufacturing industries
Extractive industries
Secondary industries
Genetic industries
Q.22
Name the two broad categories of business activities.
Trade and commerce
trade and industry
industry and commerce
none of these
Q.23
Which of the following cannot be classified as an objective of business?
(i) Investment
(ii) Productivity
(iii) Innovation
(iv) Profit earning
Q.24
The industries which provide support services to other industries are known as
(i) Primary industries
(ii) Secondary industries
(iii) Commercial industries
(iv) Tertiary industries
Q.25
Which of the following does not characterise business activity?
(i) Production of goods and services
(ii) Presence of risk
(iii) Sale or exchange of goods and services
(iv) Salary or wages
Q.26
In a law of contract, a counter offer operate as
an acceptance
a consensus
a rejection
a contract
Q.27
A contract in which all parties to the contract have carried out their obligation is said to be terminated by
breach of contract
frustration
operation of the law
voluntary agreement
performance
Q.28
A contract which is devoid of legal effect is
void contract
unenforceable contract
voidable contract
valid contract
Q.29
.What is a contract?
an agreement between two or more people which has a legal backing
an agreement between two or more people
an agreement between two or more people which does not have a legal backing
a disagreement between two or more people which has a legal backing
Q.30
......... is a promise written on a paper that is signed, sealed and delivered.
formal contract
informal contract
law contract
court contract
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