Business Awareness Questions

Q:

Performance goals are used to

A) measure productivity B) determine a worker's attitude
C) measure effectiveness, but not efficiency D) communicate nonverbally
 
Answer & Explanation Answer: A) measure productivity

Explanation:

Performance goals are used to measure productivity.

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Q:

The primary goal of a business firm is to

A) maximize profit B) increase its production
C) make a quality product D) promote workforce job satisfaction
 
Answer & Explanation Answer: A) maximize profit

Explanation:

The primary goal of a business firm is to maximize profit.

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Q:

Ratio analysis can be useful for

A) Evaluate financial performance of a company B) To improve profits of a company
C) Evaluate sales D) None of the above
 
Answer & Explanation Answer: A) Evaluate financial performance of a company

Explanation:

Ratio analysis helps us to evaluate various aspects of a company's operating and financial performance such as its efficiency, liquidity, profitability and solvency. The trend of these ratios over time can be used to check whether they are improving or deteriorating.

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Q:

An example of an on premise establishment is

A) A local pub B) A restaurant that sells mixed drinks
C) Both A & B D) None of the above
 
Answer & Explanation Answer: C) Both A & B

Explanation:
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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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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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Q:

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

A) SBI B) Axis Bank
C) HDFC Bank D) ICICI Bank
 
Answer & Explanation Answer: A) SBI

Explanation:
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Q:

An increase in the price of a good will

A) decrease demand B) increase quantity demanded
C) increase demand D) decrease quantity demanded
 
Answer & Explanation Answer: D) decrease quantity demanded

Explanation:

In economics we study that, if the price of a good increases the demand in its quantity decreases or the demand for its complimentary good increases.

 

For example, if the rice of a good increased by 5%, the demand in its quantity decreases by 10% approximately.

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