Campus 12 Please do not change or

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Faculty 04 Please do not change or
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Department* 23 Please do not change or
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Program* MA Mandatory Field
Semester* 2 Mandatory Field
Section* A Mandatory Field
Course ID* DMS-01105 Mandatory Field
Course Title* Introduction to Business Mandatory Field

Part TWO

Term Business is derived from the word

A.Being busy
B.Free
C.Easy
D.Lazy
ANSWER: A

Primary industry Classified into

A.Manufacturing & Construction
B.Genetic & Extractive
C.Synthetic industry
D.None of these
ANSWER: B

Human activities directed toward providing according to

A.L.H Haney
B.James stepsons
C.Johnson
D. B wheeler
ANSWER: A

Every Human activities which engaged for the sake of earning profit is called
A.Internet
B.Insist tut
C.Business
D.School
ANSWER: D

Every Human activities which engaged for the sake of earning profit according to
A.LH Haney
B.James Stephens
C.Jonson
D.BW wheeler
ANSWER: B

The Main purpose of economic activity is

A.To avoid loss
B.To earn more& more profit
C.To earn less profit
D.To provide free services
ANSWER: B

Which of the following is an economic activity

A.Profession
B.Social activities
C.Religious activities
D.Patriotic activities
ANSWER: A

Which of the following is not a characteristics of business

A.Entrepreneurship
B.Non economic Activity
C.Creation of utility
D.Regularity of dealing
ANSWER: B

Assembling is part of which type of industry

A.Primary
B.Tertiary
C.Construction
D.Manufacturing
ANSWER: D

How many components of business

A.One
B.Two
C.Three
D.Four
ANSWER: B

Type of primary industry

A.Three
B.Four
C.Two
D.Six
ANSWER: C

Building canal road and bridge is the example

A.Genetic industry
B.Primary industry
C.Constructive industry
D.Services industry
ANSWER: C

The main purpose or aim of doing business is

A.Earning profit
B.Producing goods and services
C.Buying and selling
D.Both a and c
ANSWER: C

Trade means
A.Buying and selling
B.Exchange of commodities
C.Both c and b
D.None of the above
ANSWER: C

Doctor and teacher is the example of

A.Constructive industry
B.Services industry
C.Manufacturing industry
D.Primary industry
ANSWER: B

How many characteristic of business

A.Seven
B.Nine
C.Eleven
D.Thirteen
ANSWER: C

Any activity is undertaken for the purpose of earning of profit is called

A.Commerce
B.Industry
C.Business
D.Trade
ANSWER: C

Generally, business activities are divided into ___ parts.

A.Five
B.Four
C.Three
D.Two
ANSWER: D

Commerce includes which of the following activities

A.Industry
B.Trade
C.Aids to trade
D.Both b and c
ANSWER: D

_____is an economic activity

A.Social Service
B.Nonprofit organization
C.Employment
D.None of these
ANSWER: C .

Commerce is the ____component of business.

D.First
B.Second
C.Third
D.Forth
ANSWER: B

The system which helps the exchange of goods called____.

A.Aids to trade
B.Trade
C.Both a and b
D.None
ANSWER: B

The scope of commerce can be explained as

A.Trade
B.Aids to trade
C.Both a and b
D.None
ANSWER: C

Import and export trade are____

A.Home trade
B.Foreign trade
C.Both a and b
D.None
ANSWER: B

Wholesale trade involve selling of goods in____ quantities

A.Small
B.Large
C.Medium
D.None
ANSWER: B

Foreign trade is _____ trade

A.National
B.International
C.both
D.None
ANSWER: B

Who work in an organization and provide physical and mental efforts called_____.
A.labor
B.Capital
C.Both
D.None
ANSWER: A

Entrepreneurship involves
A.Identification of opportunity
B.Allocation of resources
C.Creation of wealth by assuming the necessary
D.All of these
ANSWER: D

A system for allocation of resources called_____.

A.economic system
B.Non economic system
C.Both
D.None
ANSWER: A

In planned economic _____ determines the key economic function

A.Government
B.federal
C.Both
D.None
ANSWER: A

SWOT is the abbreviations of_____

A.Strength weakness opportunities threats
B.Show weakness opportunities threats
C.Both A and B
D.None
ANSWER: A

Strength your company_____.

A.Separate
B.Well
C.Skilled
D.None
ANSWER: B
In planned economic the economics_____ is decided by the Govt.
A.import
B.output
C.Both
D.None
ANSWER: B

The point of threads_____.

A.Emerging competitors
B.Negative press/media coverage.
C.Charging regulators environment
D.All of these
ANSWER: D

Business covers only

A.Economic activities
B.Non-economic activities
C.Social-service activities
D.Both a & b
ANSWER: A

A public company comes into existence when it gets

A.A certificate of incorporation
B.A certificate of commencement
C.A certificate of Application
D.Both a & b
ANSWER: A

Shareholders rights include

A.Transferring of shares
B.Voting
C.All the above
D.Both a & b
ANSWER: C

Which of the following is not an advantage of a company

A.Secrecy
B.Capital formation
C.Continuity
D.Both a & b
ANSWER: A

When an organization structure is treated a separate, legal entity apart from its owners, it is considered to be
A.A partnership
B.A Company
C.A proprietorship
D.A syndicate
ANSWER: B

A private Limited Company

A.Does not allow the transfer of shares
B.Allow the transfer of shares
C.It restricts the right to transfer its shares by its articles
D.Both a & b
ANSWER: C

A joint Stock Company must have at least

A.Statutory Act
B.Chartered Act
C.Companies Ordinance, 1984
D.Both a & b
ANSWER: C

A public Limited Company must have at least

A.Seven persons
B.Ten persons
C.Twenty persons
D.Both a & b
ANSWER: A

Which account for the relatively high credit standing of a sole proprietorship
A.Limited liability
B.Long term continuity of business
C.Professional management
D.Both a & b
ANSWER: B

Termination of sole proprietorship may happen because of the

A.Death of the owner
B.Bankruptcy of the owner
C.All of the above
D.Both a & b
ANSWER: D

The most common reason for business failure of sole proprietorship is

A.Fraud
B.Lack of management skill
C.Oversubscribed capital
D.Both a & b
ANSWER: B

The most common form of business in Pakistan is

A.The sole proprietorship
B.The partnership
C.Joint stock company
D.Both a & b
ANSWER: A

The sole-trader and his business exist

A.Independently
B.Together
C.For others
D.Both a & b
ANSWER: A

A sole-trade business is started by

A.At least two persons
B.At least seven persons
C.Only person
D.Both a & b
ANSWER: C

The scope of company’s business can be seen form

A.Articles of Association
B.Memorandum of Association
C.Both
D.Both a & b
ANSWER: B

A public company comes into existence when it gets

A.A certificate of incorporation
B.A certificate of commencement
C.A certificate of Application
D.Both a & b
ANSWER: A

The primary objective of a business is to

A.Help its employees
B.Produce more and more
C.Earn maximum profit
D.Both a & b
ANSWER: C