General knowledge(GK)/General Knowledge Business Awareness MCQ Questions Set -4 Sample Test,Sample questions

Question:
A binding price floor causes

1.Excess demand for the goods

2.Surplus supply of goods

3.Less supply of goods

4.No demand for the goods


Question:
A business organized as a corporation 
 

1.Is owned by its stockholders

2. Has tax advantages over a proprietorship or partnership

3. Is not a separate legal entity in most states

4.Requires that stockholders be personally liable for the debts of the business


Question:
A major purpose of cost accounting is to

1.measure, record and report product costs

2.classify all the product costs

3.to provide information to stockholders for investment decisions

4.All of the above


Question:
A major purpose of cost accounting is to

1.measure, record and report product costs

2.classify all the product costs

3.to provide information to stockholders for investment decisions

4.All of the above


Question:
A market is said to be in equilibrium when

1.There is downward pressure on price

2.The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price

3.All buyers are able to find sellers willing to sell to them at the current price

4.Supply equals demand


Question:
A monopoly is a market that has

1.single seller

2.single buyer

3.single seller and single buyer

4. a seller but no buyer


Question:
A person should consume more of something when its marginal cost

1. Benefit exceeds its marginal cost

2.Marginal cost exceeds its benefit

3.Benefit deceeds its marginal cost

4. None of the above


Question:
A person should consume more of something when its marginal cost

1.Benefit exceeds its marginal cost

2.Marginal cost exceeds its benefit

3.Benefit deceeds its marginal cost

4.None of the above


Question:
A raise in the price of a product causes

1. an increase in competition

2.an increase in demand

3.a decrease in competition

4.a decrease in supply


Question:
A trial balance will not balance if

1.Rs.500 cash payment to creditors is debited to creditors a/c for Rs.50 and credited to cash Rs.500.

2.correct journal entry is posted twice

3.the purchase on credit basis is debited to purchases and credited to cash

4.None of the above


Question:
An example of an on premise establishment is

1. A local pub

2.A restaurant that sells mixed drinks

3. Both A & B

4.None of the above


Question:
An increase in the price level will cause a _ the aggregate demand curve.

1. shift up

2.shift left

3. shift right

4.None of the above


Question:
An increase in the price of a good will

1. decrease demand

2.increase quantity demanded

3.increase demand

4. decrease quantity demanded


Question:
Black markets are associated with

1. Price floors and the resulting product shortages

2.Ceiling prices and the resulting product shortages

3.Price floors and the resulting product surpluses

4. Ceiling prices and the resulting product surpluses


Question:
Capital budgeting is primarily concerned with

1. planning future financing needs

2.minimizing the cost of capital

3.capital formation in the economy

4.evaluating investment alternatives


Question:
Debts owed by a business are referred to as

1.Liabilities

2.Credits

3.Account receivables

4. Owners Equity


Question:
Effective sales management begins with

1.designing a compensation plan

2.determining sales goals

3.determining the most efficient structure for the sales force

4.specifying the sales force size


Question:
Effective sales management begins with

1.designing a compensation plan

2.determining sales goals

3.determining the most efficient structure for the sales force

4.specifying the sales force size


Question:
Equivalent units of production are equal to

1.number of whole units that could have been completed if all work of the period had been used to produce whole units

2.identifiable units existing at the end of the period in a production department

3.units completed by a production department in the period

4. number of units worked on during the period by a production department


Question:
Fixed cost per unit increases when

1.variable cost per unit decreases

2. production volume decreases

3.variable cost per unit increases

4. production volume increases


Question:
For a good that is a luxury demand

1.has unit elasticity

2.tends to be inelastic

3.tends to be elastic

4.cannot be represented


Question:
he buying and selling of goods is called

1.Commerce

2.Telecommunication

3.Trade

4.Business


Question:
How much loan amount was sanctioned by The World Bank to help India develop its first modern waterway?

1.$575 million

2. $275 million

3. $375 million

4.$475 million


Question:
Inclusive unionism is practiced mostly by

1.industrial unions

2.professional and semiprofessional employees

3.craft unions

4.small unions comprised of skilled workers, such as the bricklayers


Question:
Other things equal an improvement in productivity will

1.shift the aggregate demand curve to the left

2.shift the aggregate supply curve to the right

3.increase the equilibrium price level

4.shift the aggregate supply curve to the left


Question:
Product costs are also called

1.Inventoriable Costs

2. Voluntary Costs

3.Vulnerable Costs

4. None of the above


Question:
Product costs are also called

1.Inventoriable Costs

2.Voluntary Costs

3. Vulnerable Costs

4.None of the above


Question:
Quality assurance is an example of which process?

1.Testing

2.Manufacturing

3.Delivering

4.None of the above


Question:
Ratio analysis can be useful for

1.Evaluate financial performance of a company

2.To improve profits of a company

3.Evaluate sales

4.None of the above


Question:
The advantages of being an entrepreneur are

1. making the important decisions

2.you choose the work you like to do

3. opportunity to be your own boss

4.All of the above


Question:
The basic goal of integrated marketing communications is to

 

 

1.communicate the value proposition to the target market

2.tell the world about your company

3.create desire

4.manipulate consumers


Question:
The buying and selling of goods is called

1.Commerce

2.Telecommunication

3.Trade

4.Business


Question:
The demand curve facing a perfectly competitive firm is

1. Line sloping upwards

2.Horizontal line

3.Line sloping downwards

4.Vertical line


Question:
The factors that affect worker productivity include

1.expenditures for best practices training

2.base pay increases

3.the size of incentive payments per non-defective pair

4.All of the above


Question:
The market structure called monopoly exists where there is exactly ______ seller in any market.

1.1

2.2

3.5

4.10


Question:
The partnership form of business organization is

1.only two shares

2.more than two shares

3.no share

4.doesnt exist


Question:
The primary goal of a business firm is to

1.maximize profit

2.increase its production

3.make a quality product

4. promote workforce job satisfaction


Question:
The supply curve for a monopolist is

1.Verticle

2.Horizontal

3.Downward sloping

4. Doesnt exist


Question:
Total asset turnover is used to evaluate

1.The efficiency of managements use of assets to generate sales

2.The need for asset replacement

3.The cash flows used to acquire assets

4.The relation between asset cost and book value


Question:
What does IMF stand for?

1. International Monetary Fund

2.Indian Money Fund

3.International Machine Federation

4.Institute of Monetary Finance


Question:
What is the best definition of the term cottage industry?

1.goods are produced at home

2.group of cottages that serves as factory

3.people of same colony work at same place

4.people work at industries leaving their homes


Question:
What is the main motive behind dealer incentives?

1.encouraging the maximum number of sales of the manufacturers products

2.to maintain a permanent deal

3.maintaining good dealer-manufacturer relationships

4.ensuring that the customer gets the best possible deal


Question:
Which major bank has launched the Unnati Credit Card in 2017 to enhance credit inclusion in India?

1.SBI

2.Axis Bank

3.HDFC Bank

4.ICICI Bank


Question:
Which of the following does not fall into the functions ofPayments Banks?

1.acceptance of demand deposits

2. Internet banking

3.remittance services

4. lending services


Question:
Which of the following does not motivate entrepreneurs?

1.Security

2.Profit

3.Freedom

4.Innovation


Question:
Which of these is an example of a labor law?

1. A town zones an area for residential buildings only

2. A restriction on when a union may call a strike

3.A surplus of supply

4.All of the above


Question:
Which one of the following is the maximum age of joining National Pension System (NFS) under the NFS Private Sector?

 

1. 55 years

2.60 years

3.65 years

4.70 years


Question:
Which one of the following statements with regard to Antrix Corporation Limited is correct?

1.It is a commercial arm of the Department of Industrial Policy and Promotion.

2.It is under the administrative control of the Department of Space.

3.It is under the administrative control of the Ministry of Health and Family Welfare.

4. It is a commercial arm of the Department of Science and Technology.


Question:
Which phase of DMAIC is designed to insure that the problem does NOT reoccur and that the new processes can be further improved over time?

1.Design

2.Control

3.Analyze

4.Improve


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