Structure & Process of Business Mcqs

F.Y B.COM

SEMESTER - 1

STRUCTURE & PROCESS OF BUSINESS

(SPB)

MCQS - 31 JANUARY 2022

1. The Indian Jute Mill Association is an example of ________ employers.

A. Trade Union 

B. Combination

C. Federation 

D. Consolidation

2. According to Knowles, "The so-called Industrial Revolution comprised six great changes or developments all of which were interdependent". Which one of the following is not related to the above statement?

A. Development of Engineering 

B. Use of Steam Power in Textiles

C. Rise in Aeronautical Industries 

D. Revolution in Transport

3. As _________ puts it "To combine is simply to become one of the parts of a whole, and a combination is merely a union of persons, to make a whole group for the prosecution of some common purposes."

A. Henry Fayol

B. F.W. Taylor

C. Urwick

D. Haney

4. _________ are those occupations which involve the rendering of personal services of a special and expert nature.

A. Business

B. Profession

C. Work

D. Career

5. Business always involves _________. 

A. satisfaction

B. risk and uncertainty 

C. salary

D. social activity

6. According to __________ "a cartel is a voluntary agreement of capitalistic enterprise of the same branch for a regulation of the sales market with a view to improving the profitableness of its members' business."

A. Haney

B. Von Beckereth 

C. Robert Lifemann

D. Andrew Yule

7. Airlines '_________' have also been formed with the object of regulating the freights and fares,the quality and quantity of services provided to the passengers on board a plane.

A. Board

B. Parcel

C. Conferences

D. Committee

8. During a ________ period, there is generally an unusually rapid, growth of firms which spring up to reap the rich harvest of profits.

A. Depression

B. Boom 

C. Beneath

D. Competition

9. When two or more units combine together, and totally a new unit is formed, it is called as _________. 

A. Merger

B. Amalgamation

C. Association

D. Federation

10. _________ trade effects the exchange of goods between foreign producers and foreign consumers.

A. Internal

B. Import

C. Entrepot 

D. Export

11. Which type of companies create traffic pools?

A. Shipping Companies

B. Steel Making Companies

C. Iron Making Companies

D. Textile Industries

12. _______ puts it as," Earning of profits cannot be the objective of a business any more than eating is the objective of living".

A. Urwick 

B. J. N. Tata

C. Henry Ford 

D. Henry Fayol

13. ________ schemes usually call for joint and co-operative action for many purposes say, for regulating prices and output, scrapping idle capacity, for planned utilization of scarce materials and for standardization of products.

A. Rationalisation 

B. Tariffs

C. Over-Capitalisation

D. Patent Laws

14. Which of the following are objectives of business?

A. Economic objectives, Social objectives, Human objectives, National objectives 

B. Technical objectives, marketing objectives, production objectives, financial objectives

C. Business objectives, company objectives, human objectives, national objectives

D. Organic objectives, Technical objectives, Social objectives, company objectives

15. _______ industries are engaged in the conversion or transformation of raw materials or semi-finished products into finished products.

A. Extractive

B. Manufacturing

C. Construction

D. Genetic

16. Which of the following are characteristics of business ?

A. Occupation, profession, business, service 

B. Objectives, planning, Location, innovation

C. Profit, risk, exchange, goods, sales 

D. Technology, Fashion, labour, competition

17. A lawyer goes to the court, a teacher to the school or college, a government servant to his office in the and a factory owner to his office in the factory to earn a living by producing wealth in different forms. These all are instances of _________. 

A. Human life

B. Human Occupations 

C. Human Wants

D. Business

18. ________ involves the production of goods and materials, while ___________ is mainly concerned with their distribution.

A. Commerce, Industry

B. Industry, Commerce

C. Profession, Industry

D. Commerce, Profession

19. Which one of the following is not a Characteristic of Business?

A. Dealings in Goods and Services

B. Profit Motive

C. Element of Risk

D. Occurrence of Transactions

20. ________ in the business world were devised to do away with the important handicap which rendered informal agreements ineffective in test periods of crisis.

A. Kartells

B. Pools

C. Trade Associations

D. Trade Union

21. According to ________ "mere money chasing is not a business".

A. Henry Fayol

B. Haney Fayol

C. F.W. Taylor

D. Henry Ford

22. Internal trade is also known as _________. 

A. Home Trade

B. Foreign Trade

C. Global Trade

D. Transnational Trade

23. When a larger unit takes over the business of a smaller unit, engaged in same line of business combine, such type of combination is termed as ________. 

A. Merger

B. Trade Union

C. Association

D. Federation

24. Which of these statements is correct?

A. Short run demand is that which will ultimately exist as a result of the changes in pricing, promotion or product improvement.

B. Short-run demand refers to the demand with its immediate reaction to price changes, income fluctuations, promotional strategies, etc.

C. Short run demand would reflect psychological changes in consumer behaviour over time.

D. Short-run demand forecasts help firms to plan expansion, diversification and curtailment of investment.

25. Which one of the following is a wrong statement?

A. The output pools seek to maintain prices at profitable levels by controlling and regulating the total supply of output in the market.

B. Market pools are formed generally by shipping companies, airlines, railway companies and road transport companies, though they have been commonly used only in shipping and railway companies.

C. The U.S.A was the original home of Patent Pools.

D. Demand can be pooled and allocated only when the market is assessed and divided among the member-units.

26. If some companies are financially tied together by one financier or financial institution, a _________ among such companies may be created.

A. Federation 

B. Pool

C. Cartel

D. Community of Interest

27. ________ also restricts competition, but their ultimate purpose is to bring the competing units under common control.

A. Cartels

B. Holding Companies

C. Pools

D. Trusts

28. Human life is built around work. Whether one likes or hates it, ________ is an essential part of life.

A. Air

B. Water

C. Family

D. Work

29. Since Informal Agreements do not provide any formal organization for regulating output or maintaining prices, they are also referred to as _________. 

A. Promissory Agreements

B. Gentlewomen's Agreements

C. Gentle word Agreements

D. Gentlemen's Agreements

30. Which one is the correct statement ?

A. Commerce is primarily concerned with the establishment of contacts between producers and sellers through trade.

B. The goods produced by various industries are exchanged by them for wants.

C. Exchange of goods which is the central function of commerce can be performed well only if the consumers have opportunities of bringing their products to the notice of potential producers.

D. Production and Consumption, particularly in modern time are not separated by long distance and intervals of time.

31. _________ combinations are direct combination of natural persons as in partnership of companies.

A. Simple

B. Federation

C. Partial Consolidation

D. Complete Consolidation

32. The term "_________" is applied to the series of remarkable changes in British Industry which occurred during the second half of the eighteenth century and the first half of the nineteenth century.

A. Handicraft System

B. Guilds

C. Industrial Revolution

D. The Domestic System

33. A business enterprise consists of people organized to conduct business activity to meet and satisfy the needs of society. It is essentially an __________ entity which has its own infancy, childhood, adulthood and maturity.

A. Economic

B. Organic

C. Universal

D. Adverse

34  ________ are voluntary associations of persons connected with commerce, trade and industry. Their membership usually consists of merchants, brokers, bankers, industrialists and financiers.

A. Chamber of Commerce

B. Trade Union

C. Trade Associations

D. Informal Agreements

35. MATCH THE FOLLOWING

A	B
a. Hindrance of Exchange	I. Through warehousing
b. Hindrance of Time	II. Through banking
c. Hindrance of Knowledge	III. Through transportation, insurance and packing
d. Hindrance of Place	iv. Through advertising

A. a-i, b-ii, c-iii, d-iv.

B. a-ii, b-i, c-iv, d-iii.

C. a-iii, b-i, c-ii, d-iv.

D. a-iv, b-iii, c-ii, d-i.

36. Which one of the following were the effects of Industrial Revolution. ?

A. Growth, expansion, technology

B. Manual work, location, layout

C. Marketing, planning, organization structure

D. Capitalism, Division of Labour, Mass Production

37. In which country Cartel has it's origin?

A. India

B. France

C. USA

D. Germany

38. Examples of _________ industries are nurseries multiplying and selling plants, cattle-breeding farms, poultry farms and commercial kennels.

A. Extractive

B. Genetic

C. Construction

D. Manufacturing

39. Under, "The Companies Act, _________ (as amended up to1969)", a holding company is any company which holds more than half of the equity share capital or other companies or controls the composition of board of directors of other companies.

A. 1965

B. 1956

C. 1996

D. 1969

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