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 Business Awareness Questions

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Q:

The partnership form of business organization is

A) only two shares B) more than two shares
C) no share D) doesn't exist
 
Answer & Explanation Answer: B) more than two shares

Explanation:

A partnership is a form of business where two or more people share ownership.

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

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Q:

 In December 2017, as per the announcement made by the finance Ministry, nearly how much amount have banks lost on account of frauds in the fiscal 2016-17?

A) Rs 50,000 crore B) Rs 5000 crore
C) Rs 17,000 crore D) Rs 1,000 crore
 
Answer & Explanation Answer: C) Rs 17,000 crore

Explanation:
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Exam Prep: Bank Exams

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Q:

A major purpose of cost accounting is to

A) measure, record and report product costs B) classify all the product costs
C) to provide information to stockholders for investment decisions D) All of the above
 
Answer & Explanation Answer: A) measure, record and report product costs

Explanation:

A major purpose of cost accounting is to measure, record and report product costs.

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Q:

Which of the following does not motivate entrepreneurs?

A) Security B) Profit
C) Freedom D) Innovation
 
Answer & Explanation Answer: A) Security

Explanation:

Security in a business does not motivate entrepreneurs. An entrepreneurs primary motivation to start a business is to be independent.

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Q:

The factors that affect worker productivity include

A) expenditures for best practices training B) base pay increases
C) the size of incentive payments per non-defective pair D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

The factors that affect worker productivity include the size of incentive payments per non-defective pair, base pay increases, how favorably a company's compensation package compares with the industry-average compensation package, and expenditures for best practices training.

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Q:

Product costs are also called

A) Inventoriable Costs B) Voluntary Costs
C) Vulnerable Costs D) None of the above
 
Answer & Explanation Answer: A) Inventoriable Costs

Explanation:

Product costs are also called Inventoriable Costs, since the product costs are used to value their goods in inventory.

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Q:

On a classified balance sheet, companies usually list current assets

A) in the order of acquisition. B) with the largest dollar amounts first.
C) in alphabetical order. D) in the order in which they are expected to be converted into cash.
 
Answer & Explanation Answer: D) in the order in which they are expected to be converted into cash.

Explanation:
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Q:

Black markets are associated with

A) Price floors and the resulting product shortages B) Ceiling prices and the resulting product shortages
C) Price floors and the resulting product surpluses D) Ceiling prices and the resulting product surpluses
 
Answer & Explanation Answer: B) Ceiling prices and the resulting product shortages

Explanation:
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