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 Business Awareness Questions

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Q:

A person should consume more of something when its marginal cost

A) Benefit exceeds its marginal cost B) Marginal cost exceeds its benefit
C) Benefit deceeds its marginal cost D) None of the above
 
Answer & Explanation Answer: A) Benefit exceeds its marginal cost

Explanation:
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Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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Q:

A business organized as a corporation 

A) Is owned by its stockholders B) Has tax advantages over a proprietorship or partnership
C) Is not a separate legal entity in most states D) Requires that stockholders be personally liable for the debts of the business
 
Answer & Explanation Answer: A) Is owned by its stockholders

Explanation:

A business organized as a corporation is owned by its stockholders.

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Exam Prep: AIEEE , Bank Exams , CAT
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4 1855
Q:

Debts owed by a business are referred to as

A) Liabilities B) Credits
C) Account receivables D) Owner's Equity
 
Answer & Explanation Answer: A) Liabilities

Explanation:

Debts owed by a business are referred to as Liabilities. Liabilities include all loans, outstanding expenses, mortgages, creditors, etc...

 

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Exam Prep: Bank Exams , CAT

1 1843
Q:

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?

A) Design B) Control
C) Analyze D) Improve
 
Answer & Explanation Answer: B) Control

Explanation:

DMAIC refers to define, measure, analyze, improve, control phases.

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Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

5 1838
Q:

The buying and selling of goods is called

A) Commerce B) Telecommunication
C) Trade D) Business
 
Answer & Explanation Answer: C) Trade

Explanation:

The buying and selling of goods is called Trade. Trade is a part of business where goods and services are exchanged for mney and mainly to earn profit. Commerce is used to describe trade and all the other business activities and services which make trade possible like banking, insurance, transport and advertising.

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Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

4 1838
Q:

Inclusive unionism is practiced mostly by

A) industrial unions B) professional and semiprofessional employees
C) craft unions D) small unions comprised of skilled workers, such as the bricklayers
 
Answer & Explanation Answer: A) industrial unions

Explanation:

Inclusive unionism is practiced mostly by industrial unions. The practice of a labor union of including as members all workers employed in an industry is called as Inclusive unionism.

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Exam Prep: AIEEE

5 1792
Q:

Business transaction are recorded

A) in chronological order B) at the end of the month
C) weekly D) any of the above
 
Answer & Explanation Answer: A) in chronological order

Explanation:
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Exam Prep: Bank Exams

6 1735
Q:

A trial balance will not balance if

A) Rs.500 cash payment to creditors is debited to creditors a/c for Rs.50 and credited to cash Rs.500. B) correct journal entry is posted twice
C) the purchase on credit basis is debited to purchases and credited to cash D) None of the above
 
Answer & Explanation Answer: A) Rs.500 cash payment to creditors is debited to creditors a/c for Rs.50 and credited to cash Rs.500.

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Exam Prep: Bank Exams

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