Business and Commercial knowledge Quiz-3 – Punjab Meritorious School Preparation Portal

Welcome to your Business and Commercial knowledge Quiz-3 CBT TEST

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Name

School Name with City

Phone Number

In recent news articles from around the world, there has been an increasing trend of "Privatisation" of Companies. Why is there such a trend?

To save taxes

To save the costs of compliance requirements

To make personal wealth

To be more sustainable and socially aware

Which of the following statements cannot be associated with Business?

Revenue and profits are core to every business.

Only an educated person can start a business

Capital is needed to start a business

It is better to be aware of Legal Compliances for all businesses

Which of the following is not considered an economic activity?

Saving & Investment

Production & consumption

Service of Chartered Accountant

Providing free medical aid by Doctor

Head of a Hindu Undivided Family is called?

Father

Karta

Coparcener

Mitakshara

Which of the following is incorrect?

Economic Activities are driven by profitability

Economic Activities are guided by self interest

Non-Economic Activities are driven by emotional or sentimental force

Non-Economic Activities are not at all important in life

Which of the following is not true about a Limited Liability Partnership (LLP)?

Separate Legal Entity

Incorporation not mandatory like normal partnership

Designated Partners

Hybrid Form of Business Organisation

Which apex body of regulation oversees the governance of LLP?

RBI C6

Ministry of Commerce and Industry

Ministry of Corporate Affairs

Ministry of Micro, Small and Medium Enterprises

We can classify all similar businesses relating to a particular activity as

Business

Companies

Organisations

Industry

Dormant Companies can be incorporated for which of the following purposes?

For Future Projects

Holding Intellectual Property

Both a or b

Only for creating a dummy company to book insignificant transactions

What are the two animal references in Stock Market Jargon?

Cow and Sheep

Lion and Deer

Bulls and Bears

Horses and Donkeys

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