CBSE Questions for Class 9 Elements Of Business Fundamentals Of Business Activities Quiz 4 -

State the following statement is True or False:
A director must acquire qualification shares within three months from the date of being appointed as a director in a company.
  • True
  • False
State the following statement is True or False:
Under Companies Act,1956 a director need not disclose  information to the board about his directorship in other companies.
  • True
  • False
State the following statements is True or False:
The directors are representative of shareholders.
  • True
  • False
Select the correct statement:
  • Under diminishing Marginal productivity theory addition of inputs increases total output at a reduced rate.
  • In a Perfect competition MR is downward sloping.
  • Decrease in supply of factor inputs decreases factor prices.
  • In case of a firm in perfect competitive market, the firm earns abnormal profit in the long run.
State the following statements is True or False:
The Registrar is a statutory authority under the Companies Act, 1956.
  • True
  • False
The economy where the market forces are not allowed to work and where state regulate the economy is called _____________
  • controlled economy
  • mixed economy
  • capitalistic economy
  • market economy
____________ is created to provide for the loss by way of fluctuation in the value of investment.
  • Investment fluctuation reserve
  • Sinking fund
  • Dividend equalization reserve
  • Debenture redemption reserve
Match the following:
(1) Demand curve(1) Unlimited
(2) Price determination(2) Downward sloping
(3) No. of buyers and sellers(3) Inter play of market forces
(4) Wants(4) Perfect competition
  • (1,4), (2,3), (3,2), (4,1)
  • (1,2), (2,3), (3,4), (4,1)
  • (1,4), (2,2), (3,4), (4,3)
  • (1,3), (2,1), (3,4), (4,2)
Which of these is an economic activity?
  • A father teaching his son at home instead of sending to any coaching centre.
  • A hair dresser doing hair cut on payment.
  • A housewife mending her family cloth on her own.
  • A singer giving a show on his wedding anniversary.
State the following statements is True or False:
The Registrar of Companies can impose fine or penalty on companies when irregularities are noticed.
  • True
  • False
State the following statement is True or False:
A director has to obtain qualification share within two months from the date of his appointment.
  • True
  • False
Which of these is not excluded from transfer payment?
  • Rent
  • Interest
  • Royalty
  • Retirement pension
Classical Economics refers to the work in Economics during ___________ century.
  • $$18-19$$
  • $$17-19$$
  • $$19-20$$
  • $$20-21$$
It is uncommon in a business organization ________.
  • to have a unlawful purpose
  • to have continuity
  • to have risk
  • to deal in goods and services
Arrange the process of developing effective business plans of starting new venture in proper order-
(i) Identification and evaluation of opportunity
(ii) Determination of required resources
(iii) Development of business plans
(iv) Management of the resulting enterprise
  • (i), (ii), (iii), (iv)
  • (iv), (i), (ii), (iii)
  • (i), (iii), (ii), (iv)
  • (i), (iv), (iii), (ii)
Management qualifies all the tests of profession except __________.
  • dominance of service motive
  • need for learning and proper organisation
  • entry restricted on the basis of examination
  • systematic body of knowledge
It is uncommon that a professional manager may ____________.
  • apply management theories
  • not be dynamic
  • be focussed
  • be creative
Which one of the following may NOT be a factor behind starting a business?
  • Routine workload
  • Size of the firm
  • Finance
  • Location of the business
The purposes of business that goes beyond earning profits___________.
  • Offering better quality of life
  • Contributing to the economic growth of the country
  • Creating job opportunities
  • All of above
_________ in any organization must have characteristics like skills, quality, high morale, commitment towards the work, attitude, etc.
  • Marketing Resources
  • Financial Factors
  • Human resource
  • All of above
These are the factors which influence the location of business __________.
  • labour
  • communication
  • suppliers
  • all of the above
Which statement is wrong about a business plan?
  • Preparing business plan is a forward looking activity
  • Preparing business plan is useful only for big organisation
  • Business plan assist in periodical review of actual-results
  • Past data is useful in preparing business plan
Which of the following is a variant of the sample survey method?
  • Test Marketing
  • Experts' Opinion Poll
  • Delphi Technique
  • All of above
______ is an extension of time reversal test to the case of more than two periods.
  • Circular test
  • Time reversal test
  • Factor reversal test
  • Unit test
_______ is a prediction or estimation of future values of a variable like sales, demand, price, profits etc.
  • Planning
  • Decision making
  • Forecasting
  • None of above
The "law of diminishing returns" applies to _________________.
  • short run, but not long run
  • long run, but not short run
  • both short run and long run
  • neither short run nor long run
In which economic system all the means of production are owned and controlled by private individuals for profit.
  • Socialism
  • Capitalism
  • Mixed economy
  • Communism
___ is essential for any business concern. 
  • Unlimited liabilities
  • Stability
  • Interrupted existence
  • No risk
Which of the following can be treated as characteristics of business organisation?
  • A business firm may be owned by one individual or a group of individuals jointly.
  • Every business undertaking is dependent entity.
  • Every business undertaking is engaged in the production only and not in distribution of services.
  • Business undertakings are not exposed to any risk or uncertainty.
A business enterprise may be organised on the basis of ___ liability.
  • Limited
  • Unlimited
  • A or B
  • Non-business

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