Q.Define Business. Distinguish it from profession and employment.

Showing the 12 most recent of 110 on this concept.

1. CBSE 2026Set MARCH1 markMCQ
   Q.Business risk is not likely to arise due to

   (a) a) Changes in government policy

   (b) b) Good Management

   (c) c) Employee Dishonesty

   (d) d) Power failure

   ›Reveal solutionSolution

   Correct option: (b) Good Management. Business risk arises from uncertainties that can cause loss or reduced profit; good management is a control that reduces such risk, not a cause of it.

   Business risk refers to the possibility of inadequate profits or even losses due to uncertainties or unexpected events. Common causes include natural factors, human factors, economic factors and other causes such as changes in government policy, dishonesty of employees and mechanical or power failures. Each of the other three options represents a genuine source of loss or uncertainty. Good management, on the other …

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2. CBSE 2026Set MARCH1 markMCQ
   Q.A Government company is any company in which the paid up capital held by the government is not less than.

   (a) a) 49%

   (b) b) 51%

   (c) c) 50%

   (d) d) 25%

   ›Reveal solutionSolution

   Correct option: (b) 51%. A government company is one in which at least 51% of the paid-up share capital is held by the government, ensuring majority control.

   As per the Companies Act, a government company is defined as any company in which not less than 51% of the paid-up share capital is held by the central government, by any state government or governments, or partly by the central government and partly by one or more state governments. Holding 51% or more of the paid-up capital gives the government majority ownership and, therefore, contr …

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3. CBSE 2026Set MARCH1 markMCQ
   Q.An enterprises must behave as a good citizen is an example of its responsibility towards

   (a) a) Owners

   (b) b) Workers

   (c) c) Consumers

   (d) d) Community

   ›Reveal solutionSolution

   Correct option: (d) Community. Acting as a good citizen expresses a business's social responsibility towards the community.

   A business is accountable to different interest groups: to owners it owes a fair return, to workers fair wages and good working conditions, and to consumers quality goods at fair prices. Towards the community it is expected to behave as a good citizen — by protecting the environment, generating employment, contributing to community development and observing the laws of the land. The ex …

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4. CBSE 2026Set MARCH1 markMCQ
   Q.Small scale fixed retailers include

   (a) a) Hawkers

   (b) b) Peddlers

   (c) c) Cheap Jacks

   (d) d) General stores

   ›Reveal solutionSolution

   Correct option: (d) General stores. Among the options, only the general store is a fixed-shop retailer; the rest are itinerant retailers.

   Small-scale retailers are broadly classified into itinerant retailers and fixed-shop retailers. Itinerant retailers do not have a fixed place of business and move from one place to another to sell their goods — examples include hawkers, peddlers and cheap jacks. Fixed-shop small retailers, on the other hand, operate from a permanent, though small, establishment; a general store selling everyday household items i …

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5. CBSE 2026Set MARCH1 markMCQ
   Q.A receipt issued by the shipping company after collecting freight charges

   (a) a) Shipping receipt

   (b) b) Bill of Lading

   (c) c) Cargo Receipt

   (d) d) Bill of exchange

   ›Reveal solutionSolution

   Correct option: (b) Bill of Lading. It is the shipping company's receipt for goods and freight and a document of title to the goods.

   When goods are sent by sea, the shipping company issues a Bill of Lading to the exporter. It acknowledges receipt of the goods on board the ship, records the terms and freight charges, and serves as a document of title, meaning the holder can claim the goods at the destination port. A Bill of Exchange is an instrument used for payment, while 'shipping receipt' and 'cargo receipt' are not the re …

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6. CBSE 2026Set MARCH1 mark
   Q.Fill in the blank by choosing appropriate answer from those given in the brackets: ( Licensing, Teleshopping, Broker, Prospectus, Working capital, Ship ) The Hull insurance the subject matter is ________

   ›Reveal solutionSolution

   The correct word is Ship. Hull insurance is the branch of marine insurance in which the subject matter insured is the ship itself.

   Marine insurance has three main types based on the subject matter insured — hull insurance (the ship or vessel), cargo insurance (the goods carried) and freight insurance (the freight charges). In hull insurance the ship is protected against damage or loss caused by marine perils su …

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7. CBSE 2026Set MARCH1 mark
   Q.Funds required for day to day operations is known as ________

   ›Reveal solutionSolution

   The correct word is Working capital — the funds needed for a firm's day-to-day operations.

   Business finance is needed for two broad purposes: fixed capital, used to acquire long-term assets like land, building and machinery, and working capital, used to finance the day-to-day activities of the business. Working capital covers current requirements such as purchasing raw materials, paying wages and salaries, meeting overheads and holding stock and receivables. Becaus …

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8. CBSE 2026Set MARCH1 mark
   Q.________ is the process of seeking exclusive rights of the patents for fee

   ›Reveal solutionSolution

   The correct word is Licensing — granting another party the rights to use one's patents/technology for a fee.

   Licensing is a contractual arrangement in which one firm (the licensor) grants another firm (the licensee) the right to use its industrial property — such as patents, trademarks, copyrights or technical know-how — in return for an agreed fee or royalty. It is widely used as a low-cost mode of entering international markets, since the licensee bears the investment and the licensor earns income fr …

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9. CBSE 2026Set MARCH1 mark
   Q.________ helps disabled and elderly people.

   ›Reveal solutionSolution

   The correct word is Teleshopping — home-based shopping through television and telephone that helps disabled and elderly people.

   Teleshopping refers to the method of selling in which products are demonstrated on television, and interested viewers place orders over the telephone; the goods are then delivered to their homes. Because customers need not physically visit a market or store, teleshopping is particularly convenient for disabled persons and the elderly, who may find it di …

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10. CBSE 2026Set MARCH1 mark
    Q.What is Export Trade?

    ›Reveal solutionSolution

    Export trade means selling goods and services produced in one country to buyers in other countries.

    Export trade is a component of foreign (external) trade in which goods and services are sold and sent from the home country to customers in other countries. For example, when Indian firms sell tea, textiles or software services to buyers in the USA or Europe, it is export trade for India. It brings foreign exchange int …

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11. CBSE 2026Set MARCH1 mark
    Q.Which act governs partnership business in India?

    ›Reveal solutionSolution

    Partnership business in India is governed by the Indian Partnership Act, 1932.

    A partnership is a form of business organisation in which two or more persons agree to carry on a business and share its profits. In India, partnerships are regulated by the Indian Partnership Act, 1932, which lays down the definition of partnership, the rights and duties of partners, the procedure for registration of a firm, and the conseque …

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12. CBSE 2026Set MARCH1 mark
    Q.Which certificate is considered as Birth Certificate of a company?

    ›Reveal solutionSolution

    The Certificate of Incorporation is called the birth certificate of a company.

    When a company applies for registration and files the required documents, the Registrar of Companies examines them and, if satisfied, issues a Certificate of Incorporation. From the date stated in this certificate, the company comes into existence as a separate legal person capable of entering into contracts, owning property and being sued in its own name. Because the company's legal life be …

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