Q.1
In case of minor acting as a partner, his personal properties are ________.
Q.2
When a partnership is dissolved?
Q.3
The liability of a sole proprietor is _______.
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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