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BUS101QUESTI
ONSANDANSWERS

1.Thefunct
ionofbusi
nesst
hati
sconcer
nedwi
thpr
ovi
dingsuf
fi
cientf
undsf
ort
hesmoot
h
runni
ngofthebusi
nessis

A.
product
ionf
unct
ion

B.
per
sonnel
funct
ion

C.
mar
ket
ingf
unct
ion

D.
fi
nancef
unct
ion

2.
Whi
choft
hesei
sanext
ernal
env
ironmentofbusi
ness

A.
str
engt
handoppor
tuni
ty

B.
weaknessesandt
hreat

C.
oppor
tuni
tyandt
hreat

D.
str
engt
handweaknesses

3.
Theamountofsat
isf
act
ionder
ivedf
rom consumi
ngapr
oducti
s

A.
sat
isf
act
ion

B.
uti
l
ity

C.
enj
oyment

D.
all
oft
heabov
e

4.
Thef
act
orofpr
oduct
iont
hatr
equi
reshumanef
for
tis

A.
land

B.
capi
tal

C.
labour

D.
noneoft
heabov
e

5.Goodspr
oducef
rom i
ndust
ryandser
vesasani
nter
medi
atepr
oductofot
heri
ndust
ri
esi
s
cal
led

A.
int
ermedi
ategoods

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B.
consumergoods

C.
fi
nishgoods

D.
capi
tal
goods

6.Themoneyl
eftaf
tert
hebusi
nessr
ecal
lal
li
tsr
evenueandsubt
ractal
li
tsexpensesi
s

A.
capi
tal

B.
prof
it

C.
loss

D.
tax

7.Oneoft
hesei
snotanobj
ect
iveoft
hebusi
ness

A.
prof
itmaki
ng

B.
expl
oit
ati
onoft
heconsumer
s

C.
incr
easemar
ketshar
e

D.
growt
h

8.Aprocesswher
ebytwoormat
eri
alsar
emi
xedt
oget
heri
nthe!
manuf
act
uri
ngoper
ati
ont
o
obt
ainsomenewpr oducti
s

A.
anal
yti
cal

B.
processi
ng

C.
synt
het
ical

D.
assembl
yli
ne

9.Af
orm ofbusi
nesst
hatexchangeofi
tem i
s

A.
bar
tersy
stem

B.
giv
eandt
ake

C.
joi
ntst
ockcompany

D.
all
oft
heabov
e

10.Aper
sonwhobuy
sgoodi
nbul
kandsel
li
nuni
ttot
hef
inal
consumeri
sknownas

A.
ret
ail
er

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B.
whol
esal
er

C.
consumer

D.
all
oft
heabov
e

11.Theexchangeofgoodsbet
weent
woormor
ecount
ri
esi
scal
l
ed

A.
homet
rade

B.
domest
ict
rade

C.
for
eignt
rade

D.
all
oft
heabov
e

12.____
___invol
vesal
lbusi
nessef
for
tgear
edi
ntowar
dsmaki
ngpr
oduct
ionofgoodsand
serv
icesavail
abl
e

A.
communi
cat
ion

B.
tr
anspor
tat
ion

C.
commer
ce

D.
noneoft
heabov
e

13.Thet
ypeofi
ndust
ryt
hatdeal
swi
thbr
eedi
ngofpl
anti
sknownas

A.
ext
ract
ivei
ndust
ry

B.
manuf
act
uri
ngi
ndust
ry

C.
fort
hef
unofi
t

D.
tomakecust
omer

15.Thef
act
orsofpr
oduct
iont
hatr
emuner
ateal
lot
herf
act
orsofpr
oduct
ioni
s

A.
land

B.
capi
tal

C.
ent
repr
eneur

D.
labour

16.Thecapi
tal
ofasol
epr
opr
iet
orshi
piscont
ri
but
edby

A.
theshar
ehol
der
s

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B.
thepar
tner
s

C.
owner

D.
all
oft
heabov
e

17.Al
loft
hesear
ety
peofpar
tner
sexcept

A.
domi
nantpar
tner

B.
act
ivepar
tner

C.
minorpar
tner

D.
nomi
nal
par
tner

18.Thesoci
etythati
sformedfort
hepurposeofmaki
ngav
ail
abl
edayt
odayr
equi
rementf
or
goodsatcheaperrat
eforthei
rmember
si sknownas

A.
producerco-
oper
ati
vesoci
ety

B.
mar
ket
ingco-
oper
ati
vesoci
ety

C.
consumerco-
oper
ati
vesoci
ety

D.
all
oft
heabov
e

19.Thef
unct
ionsofbusi
nesst
hati
sconcer
nedwi
thf
indi
ngsui
tabl
eempl
oyeeandgi
vi
ngt
hem
tr
aini
ngi
s

A.
per
sonnel
funct
ion

B.
productf
unct
ion

C.
mar
ket
ingf
unct
ion

D.
fi
nancef
unct
ion

20.Theactofext
ract
ing,
processi
ng,
conv
ert
ing,
product
sisdescr
ibedas

A.
fi
rm

B.
company

C.
commer
ce

D.
indust
ry

21.Anoccupat
iont
hatdeal
srender
ingofper
sonal
ser
vicesofaspeci
ali
zednat
urei
s

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A.
busi
ness

B.
prof
essi
on

C.
tr
ade

D.
commer
ce

22.Al
li
nputt
hatcanbeut
il
izedbyt
hebusi
nessor
gani
zat
ioni
scal
l
ed

A.
busi
nessr
esour
ces

B.
busi
nessi
nput

C.
noneoft
heabov
e

D.
all
oft
heabov
e

23.Af
orm ofbusi
nesswhi
cht
heownerbear
sal
lthel
ossesal
onei
s

A.
par
tner
shi
ps

B.
singl
eent
repr
eneur
shi
p

C.
joi
ntst
ockcompany

D.
all
oft
heabov
e

24.Apar
tner
shi
pagr
eementt
hati
ssi
gnedandseal
edi
sknownas

A.
memor
andum

B.
art
icl
eofassoci
ati
on

C.
par
tner
sConst
it
uti
on

D.
deedsofpar
tner
shi
p

25.Themostcommonf
ormsofbusi
nessi
s

A.
co-
oper
ati
vesoci
ety

B.
par
tner
shi
ps

C.
joi
ntst
ock

D.
sol
epr
opr
iet
orshi
p

26.All
thesear
enott
heext
ernal
for
cest
hataf
fectdayt
odayt
heact
ivi
ti
esoft
hebusi
ness
except

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A.
cust
omer

B.
suppl
i
er

C.
compet
it
ors

D.
economi
cenv
ironment

27.Asal
eofapr
oductcanbecal
l
edabusi
nessi
fiti
sdone

A.
ir
regul
arl
y

B.
once

C.
regul
arl
y

D.
all
oft
heabov
e

28.Themanmadepr
oduct
iveassetusedi
nthecr
eat
ionoff
urt
herweal
thi
s

A.
mat
eri
al

B.
machi
ne

C.
money

D.
all
oft
heabov
e

29.Thet
ypeofbusi
nessenv
ironmentt
hati
sknownascont
rol
l
abl
eenv
ironmenti
s

A.
int
ernal
env
ironment

B.
ext
ernal
env
ironment

C.
noneoft
heabov
e

D.
all
oft
heabov
e

30.Whi
choft
hesei
sachar
act
eri
sti
cofbusi
nessenv
ironment

A.
compl
ex

B.
uncer
tai
nty

C.
dynami
sm

D.
all
oft
heabov
e

31.Theol
destf
orm ofbusi
nessi
s

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A.
bar
tersy
stem

B.
par
tner
shi
p

C.
sol
epr
opr
iet
orshi
p

D.
co-
oper
ati
vesoci
ety

32.Goodspr
oducei
not
hert
opr
oduceot
hergoodsar
ecal
l
ed

A.
consumergoods

B.
per
ishabl
egoods

C.
capi
tal
goods

D.
dur
abl
egoods

33.I
nasol
epr
opr
iet
orshi
ptheownerl
i
abi
l
iti
esar
e

A.
li
mit
ed

B.
unl
i
mit
ed

C.
noneoft
heabov
e

D.
all
oft
heabov
e

34.
___
___
__and_
___
___
__ar
ethemi
ddl
emeni
nachannel
ofdi
str
ibut
ion

A.
whol
esal
erandconsumer

B.
ret
ail
erandconsumer

C.
whol
esal
erandr
etai
l
er

D.
producerandr
etai
l
er

35.At
ypeofser
vicet
hati
senj
oyedbyal
argenumberofpeopl
eatt
hesamet
imei
sknownas

A.
dir
ectser
vice

B.
publ
i
cser
vice

C.
indi
rectser
vice

D.
noneoft
heabov
e

36.Themi
nimum numberofpeopl
etosetupapar
tner
shi
pbusi
nessi
s

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A.
four

B.
thr
ee

C.
two

D.
fi
ve

37.Theacr
ony
m ofswoti
s

A.
str
engt
hweaknessoppor
tuni
tyandt
rust

B.
str
engt
hweaknessoppor
tuni
tyandt
hreat

C.
str
engt
hwi
l
li
ngnessoppor
tuni
tyandt
hreat

D.
str
engt
hweaknessoppor
tuni
tyt
reat

38.Ther
ewar
dofbusi
nessmenf
ort
hei
rinv
olv
ementi
nbusi
nessi
s

A.
prof
it

B.
sal
ary

C.
tax

D.
bri
be

39._
___
___
_isani
ntangi
blepr
oductpr
ovi
dingsomef
ormsofut
il
it
ytot
heconsumer

A.
doughnut

B.
ser
vice

C.
goods

D.
cement

40.Thecapi
tal
ofasol
epr
opr
iet
orshi
pisal
way
s__
___
___

A.
unl
i
mit
ed

B.
li
mit
ed

C.
noneoft
heabov
e

D.
all
oft
heabov
e

ANSWERS

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1.
D,2.
C,3.B,
4.C,
5.A,
6.B,
7.B,
8.C,9.
A,10.
A,11.
A,12.
A,13.
D,14.
B,15.
C,16.
C,17.
A,18.
C,19.
A,20.
D,21.
B,2
2.
A,23.
B,24.
D,25.D,
26.D,
27.C,28.
C,29.
A,30.
D,31.
C,32.
C,33.
A,34.
C,35.
C,36.
C,37.
B,38.
A,39.
B,40.
B

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