Principles Of Business Quiz Questions

10 Questions | By Ashebagrant | Updated: Mar 18, 2022 | Attempts: 212

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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____________