Principles Of Business Quiz Questions
10 Questions
| Total Attempts: 120
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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____________
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