Principles Of Business Quiz Questions

10 Questions | Total Attempts: 120

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Principles Of Business Quizzes & Trivia

Please read all question carefully before attemp. This paper is consisted of 10 questions.


Questions and Answers
  • 1. 
    A contract can be define as
    • A. 

      A legally binding document between two or more persons.

    • B. 

      A word of mouth.

    • C. 

      An agreement between two or more persons.

    • D. 

      An acceptance to an offer.

  • 2. 
    The most important role of business in any community is to:
    • A. 

      Pollute the environment.

    • B. 

      Earn foreign exchange.

    • C. 

      Provide revenue for the government

    • D. 

      Provide goods and services to satisfy the wants of people.

  • 3. 
    The basic needs of man are:
    • A. 

      Land, money, car

    • B. 

      Food,money, land

    • C. 

      Food, clothing,shelter

    • D. 

      Food,shelter,money

  • 4. 
    What is the maximum number of shareholders a private company can have
    • A. 

      Two

    • B. 

      Fifty

    • C. 

      Seventy

    • D. 

      Twenty

  • 5. 
    An item displayed in a store with price tag is an example of:
    • A. 

      Offer

    • B. 

      Invitation to treat

    • C. 

      Consideration

    • D. 

      Counter offer

  • 6. 
    The market elemenst include products, price, place, advertising
    • A. 

      True

    • B. 

      False

  • 7. 
    Effective leaders are born with the necessary skills cannot be learned.
    • A. 

      True

    • B. 

      False

  • 8. 
    Another name for balance sheet is an income statement
    • A. 

      True

    • B. 

      False

  • 9. 
    ------------------- is the most common form of business organization .
  • 10. 
    Satsisfying wants involves for types of utility: time, place,possession and____________