Nature and Significance of Business-MCQ

MULTIPLE CHOICE QUESTIONS

CHAPTER 1: Nature & Significance of Business

1. Which one of the following may not be a factor behind starting a business:-
   (a) Size of the firm
   (b) Routine workload
   (c) finance
   (d) Location of business


2. Which of the following is not a function of management?
   (a) Management is all pervasive
   (b) Management is multi-dimensional
   (c) Identification of threats & warnings
   (d) Location of business


3. Name two broad categories of business activities:-
   (a) Trade & commerce
   (b) Trade & Industry
   (c) Industry & commerce
   (d) None of these


4. Which one of the following is not an economic objective of the business:-
   (a) Social environment
   (b) Survival
   (c) Profit
   (d) Growth


5. Which factor doesn’t describe management as science:-
   (a) Systematized body of knowledge
   (b) Universal validity
   (c) Ethical code of conduct
   (d) Principles based on experimentation


6. Earning of a profit is considered to be subsidiary objective of the business:-
   (a) True
   (b) False
   (c) None of these
   


7. Human activities are of _____ types:-
   (a) One
   (b) Two
   (c) Three
   (d) Four


8. Economic activities may be classified into business, ____ & employment.
   (a) Profession
   (b) Occupation
   (c) Vocation
   (d) Work

Answer Keys

1

b

2

c

3

c

4

a

5

c

6

b

7

b

8

a