The following does not characterise business activity?

(a)

Production of goods and services

(b)

Presence of risk

(c)

Sale or exchange of goods and services

(d)

Salary or wages

Public Enterprises are under .............. category of Business

(a)

Size

(b)

Function

(c)

Ownership

(d)

Character

Person who enter in to a partnership are individually called ____________

(a)

Partner

(b)

Partnership firm

(c)

Firm name

(d)

Co-operation

The Board of directors of a company is elected by _________

(a)

Creditors

(b)

Debtors

(c)

Debenture holders

(d)

Share holders (members)

This emerged as an instrument to protect the interest of the weaker section is___________.

(a)

Socialism

(b)

Mixed system

(c)

Public enterprise

(d)

Co-operation

The deposit which has no limitation on deposit of cheques or withdrawals from the account is______

(a)

Demand Deposit

(b)

Current Deposit

(c)

Fixed deposit

(d)

Recurring Deposit

A factor is a mercantile agent who .............

(a)

Takes physical possession of the goods

(b)

Deals in his own name

(c)

Receives payments from customers

(d)

All the above

Acceptance to be valid must  ________.

(a)

Be absolute

(b)

Be unqualified

(c)

Both be absolute and unqualified

(d)

Be conditional

Sale of goods for cash is an example of__________.

(a)

mutual and independent promises

(b)

mutual and dependent promises

(c)

mutual and concurrent promises

(d)

conditional and dependent promises

How many heads of income are there to compute Gross total income?

(a)

Six

(b)

Five

(c)

Four

(d)

Three