Commerce Quiz

Which of the following is not a characteristic of business?

• Profit Motive

• Risk Element

• Donation

• Production

The primary objective of business is:

• Social service

• Employee welfare

• Profit earning

• Legal compliance

Commerce includes:

• Industry and trade

• Only production

• Trade and auxiliaries to trade

• Banking only

E-commerce deals with:

• Manual transactions

• Face-to-face trade

• Online business transactions

• Government dealings

A Sole Proprietorship has:

• Limited liability

• Unlimited liability

• Perpetual succession

• Separate legal entity

Which is the oldest form of business organization?

• Sole Proprietorship

• Partnership

• Company

• Cooperative society

A Joint Stock Company is regulated by:

• Income Tax Act

• Companies Act, 2013

• Contract Act

• Partnership Act

In partnership, the agreement among partners is known as:

• Partnership license

• Company charter

• Partnership deed

• Legal notice

One of the following is a non-corporate form of business:

• Sole proprietorship

• Private company

• Public company

• Statutory corporation

Which of the following is considered an auxiliary to trade?

• Agriculture

• Insurance

• Manufacturing

• Mining