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Professional Factory ….. Paper 1
Batch:
Name : Marks : 100 Marks
Time : 1.30 Hours
Attempt all questions. Each question carries 2 marks. There is no negative mark for incorrect answers.
PART-A
Q.1Company image and Brand equity is a part of:
a)Interanal Enviornmentb)External Enviornment
c)Both (a) & (b)d)None of the above
Q.2The high rise of population encourage the business enterprises to use ______techniques.
a)Labour Intensiveb)Capital Intensive
c)Both (a) & (b)d)None of the above
Q.3Life Insurance Corporation of India of India is an example of:
a)Statutory Bodiesb)Public Corporation
c)HUFd)Partnership Firm
Q.4According to whom, “Partnership is the relation between persons competing to make contract who agree to carry on a lawful business in common with a view of private gain.”
a)Michale Potterb)Adam Smith
c)Hanryd)None of the above
Q.5As per First Schedule of Industries (Development and Regulation) Act 1951, Micro Enterprise should have plant & machinery not exceeding:
a)Rs. 50 Lakhsb)Rs. 35 Lakhs.
c)Rs. 25 Lakhsd)Rs. 24 Lakhs
Q.6The essence of a MNC is to ______countries that are not their home base.
a)Bring inward investment tob)Take out investment from
c)Both (a) & (b)d)None of the above
Q.7A ______development policy has to attempt to ______the use of labour, relative to capital to the extent that it is economically efficient.
a)Effective, increaseb)Ineffective, increase
c)Effective, decrease)None of the above
Q.8It has been estimated that ______rupees of investment in fixed assets in the small scale sector generates employment for ____ persons.
a)1,000 , 4b)1,00,000 , 4
c)50,000 , 1d)2,00,000 , 6
Q.9Network Marketing distributors purchase products ______
a)Wholesale priceb)Retail price
c)Discounted priced)Both (a) & (c)
Q.10Avon/ Oriflame/ Tupper ware/ Amway are examples of:
a)Franchisingb)BPO
c)KPOd)Network Marketing
Q.11PDA, smart phone, computer mediated network are needed in ______
a)Network Marketingb)E-Commerce
c)M-Commerced)Marketing
Q.12Disadvantages of E-Commerce in India are:
I.Internet access is not universally available
II.Credit card payment security is not yet guaranteed
III.Transactions are de-personalized and human contact is missing
IV.Cyber laws are not in place
Which of the following are correct:
a)(i) & (ii)b)(ii) & (iii)
c)(i), (ii) & (iii)d)(i), (ii), (iii) & (iv)
Q.13______Management is the oversight of materials, information and finances as they move in the process from supplier to manufacturer to wholesaler to retailer to consumer.
a)Value Chainb)Supply Chain
c)Top leveld)None of the above
Q.14______said, “Financial planning consists of capitalization, capital structure and policies required for proper utilisation and administration of capital.”
a)American Marketing Associationb)Gerstembarg
c)H.L. Hansend)Kotler
Q.15Liberalization does not includes:______
a)Abolishing industrial licensing requirement in most of the industries
b)Freedom in deciding the scale of business activities
c)Restriction in fixing prices of goods and services
d)Simplifying the procedure for imports and exports
PART B
Q.16X of Agra sends a letter to Y of delhi offering to sell his car for Rs. 4,00,000. This letter is posted on 1st January and reaches Y on 6th January. Y sends his acceptance by post on 10th January. But X receives this letter of acceptance on 14th January. On ____ communication of offer completed and On _____ communication of acceptance completed against the acceptor.
a)10th January, 10th Januaryb)6th January, 14 January
c)1st January, 10th Januaryd)6th January, 10th January
Q.17A proposes B: ‘Will you buy my cow for Rs.100? B replied ‘ I shall buy your cow for Rs.100 provided you purchase my parrot for Rs. 120.’
a)B accepted the offer b)B rejected the offer
c)B made a counter offerd)B cannot made such offer
Q.18A sane man, who is so drunk that he cannot understand the terms of a contract:
a)Cannot contract while such drunkness lasts
b)Cannot contract at all
c)May not contract while such drunkenness lasts
d)Can contract at any time
Q.19The ______lays down the principle that decisions of higher courts must be followed by the courts subordinate to them
a)Doctrine of mergerb)Doctrine of election
c)Doctrine of frustrationd)Doctrine of precedent
Q.20A partner’s liability is always limited whereas that of shareholder may be unlimited either by shares or a guarantee.
a)Trueb)False
c)Partly trued)Partly false
Q.21A contract of sale can be avoided in case of perishable goods:
a)If the fault is of the seller
b)If the fault is of the buyer
c)If the fault is of both the buyer and the seller
d)If the fault is neither of the buyer nor the seller
Q.22The ownership, in case of sale on approval, is transferred to the buyer:
a)When the buyer accepts the goods
b)When the buyer makes the return of goods impossible
c)When the goods are in a deliverable state
d)Both (a) & (b)
Q.23Goods are deemed to be in course of transit:
a)From the time when they are delivered to a carrier
b)From the time when they are delivered to the bailee for the purpose of transmission to the buyer
c)Until the buyer or his agent takes the delivery of them from such carrier or other bailee
d)All of the above
Q.24______instrument is an instrument which is incomplete in some respect.
a)Inchoateb)Ambiguous
c)Both (a) or (b)d)Demand
Q.25A bill dated January 31, 2012 payable at one month after date is due on:
a)28.02.2012b)01.03.2012
c)02.03.2012d)03.03.2012
Q.26On the change written ‘& Co., SBI’. It is:
a)General Crossingb)Special Crossing
c)Restrictive Crossingd)None of the above
Q.27A noting should contain among other things:
a)Place of the notaryb)Charges of the notary
c)Both (a) & (b)d)None of the above
Q.28The implied authority of the partner does not empower him
a)To submit a dispute relating to the business of the firm to arbitration
b)To open a bank account on behalf of the firm in his own name
c)To compromise or relinquish any claim or portion of a claim by the firm
d)All of the above
Q.29A partner may be expelled from a firm
a)By majority of the partners
b)By any majority of the partners as per the power given in the partnership deed
c)By two-third majority of the partners
d)By simple majority
Q.30As per section 2(51) of the Companies Act, 2013, “Key Managerial Personnel”, in relation to a company, means______
i)Chief Executive officer or the managing director or the manager
ii)Company Secretary
iii)Whole Time Director
iv)Chief Legal Officer
v)Chief financial officer
a)(i),(ii),(iv) & (vi)b)(i),(iii),(iv), (v) &(vi)
c)(i),(ii),(v) &(vi)d)(i),(iv),(v), &(vi)
Q.31A pure theory of law was given by:
a)Salmondb)Kelsen
c)Austend)None of the above
Q.32According to section 4(2) of the Companies act, 2013, the name stated in the memorandum shall not –(a) ______or ______too nearly to the same of an existing company registered under this Act or any previous company law.
a)be identical with; resembleb)be dissimilar; resemble
c)be desirable; resembled)resemble; be desirable
Q.33XYZ Ltd. has total 7 directors, Directors liable to retire by rotation should be______
a)3b)4
c)5d)6
Q.34A lends his car to B for a drive by him only. B allows C, an expert driver, to drive the car. C drives the car with care but hits with an electronic pole. The car is demaged. A file suit against B claiming damages. Will he succeed?
a)Yes, B is liable for the damage to A’s car.
b)No B is not liable for the damage to A’s car.
c)Yes, C is liable for the damage to A’s car.
d)None of the above
Q.35In case of re-sale of goods by notice to buyer, if re-sale price is less than contracted price seller can recover balance from buyer.
a)Only when notice of intention to resell, is given
b)Only when notice of intention to resell, is not given
c)Either (a) or (b)
d)Neither (a) nor (b)
PART- C
Q.36According to whom “the entrepreneurship is essentially a creative activity or it is innovative function”
a)Schumpeterb)Peter ducker
c)Michale Potterd)Napoleon Hill
Q.37“what a man can do ,This need we call self actualisation “ Above statement about entrepreneur is stated by:
a)Michael Porterb)Confucius
c)Maslowd)Hilaire Belloc
Q.38Among the following entrepreneur who likes and enjoys working on something new on creative:
a)Idealistb)Optimisers
c)Hard workersd)Sustainers
Q.39Among the following entrepreneur who excel at problemsolving in systematic way:
a)Visionaryb)Analyst
c) Fireballd)Jugglers
Q.40Among the following entrepreneur who enjoy putting in long hours to build a larger and more profitable business:
a)Idealistb)Optimisers
c)Hard Workersd)Sustainers
Q.41PESTLE is a part of which type of environment:
a)Microb)Macro
c)Externald)Business
Q.42Industry analysis is given by which of the following:
a)Michael Porterb)H.N.Hansen
c)Koontz O’Donneld)Joseph Schumpeter
Q.43Which of the following does not include in marketing assessment process?
a)Defining the problemb)Fostering ideas
c)Feedbackd)Designing a plan
Q.44The five forces that affect the level of competition in an industry are:
a)Threat of entrants; power of buyers; powef of suppliers; threat of substitutes; competitive rivalry
b)Threat of buyers; power of entry; power of substitutes; threat of suppliers; threat of recession
c)Threat of recession; power of buyers; power of suppliers; threat of management failure; competitive rivalry
d)Threat of entry; power of buyers; power of suppliers; threat of substitutes; government action
Q.45In relation of the PESTLE framework which of the following statements is correct:
a)It assists in the assessment of organisational strength and weaknesses.
b)It allows a detailed analysis of the structure of an industry.
c)It can be used as a checklist to understand the different environmental influences in the macro environment.
d)Takes an historical perspective on the main political, economic, sociocultural, technological, environmental and legal factors.
Q.46Process of financing entrepreneurial business consist of:
a)Resource Assessmentb)Fixed and working capital requirement
c)Fund flowd)All of the above
Q.47Concept of entrepreneurship was referred as ______by British economists.
a)Business management b)Board Administration
c)Business Administration d)Board management
Q.48Evaluation and control is to determine the performance which is a process to :
a)Monitor performanceb)Take corrective action
c)Both (a) & (b)d)None of the above
Q.49Stage of Development in Enterpreneurial firm are :
a)Seed stage, Early growth, Established, Start up, Corporate
b)Seed stage, Start up, Early growth, Established, Corporate
c)Corporate, Established, Early growth, Start up ,Seed stage
d)None of the above
Q.50_____ stars a business enterprise constituting of ideas he comprehends; employing personal stakes.
a)Managerb)An entrepreneur
c)Both (a) and (b)d)Neither (a) nor (b)