MGT211 Quiz 1 Solution 

MGT211 Quiz 1 2021 Solved


A Solved Quiz of MGT211 Subjects. Get Easy to Prepare Your Quiz and See Answer of MGT211 Quiz 1 2021 on this post. Introduction to Bussiness Subject Quizzes with their Solved Answers.

MGT211 QUIZ 1 SOLVED



1) Which of the following is NOT an aspect to purchase a franchise business?

Select the correct option

a) Attractive Location

b) High profitability

c) Independency

d) Well known customer base


2) Which of the following is not an example of non-profit making organization?

Select the correct option

a) NGO’s

b) Trusts

c) Cooperative societies

d) Partnership


3) Statutory meeting is held by which of the following companies?

Select the correct option

a) Every public company limited by shares

b) Every public company limited by guarantee

c) Every private company converted into a public company

d) All of the given options


4) Which of the following is an example of genetic industry?

Select the correct option

a) Sugar mill

b) Poultry Farms

c) Textile industries

d) None of the given options


5) Sole proprietorship always enjoys:

Select the correct option

a) Limited liability

b) 100% of profit after tax

c) 100% of profit before tax

d) All of the given options


6) A statuary report must be sent to every member of the company at least ___ days before the meeting is to be held.

Select the correct option

a) 21 days

b) 30 days

c) 45 days

d) 51 days


7) The members of a cooperative society have ___ liability.

Select the correct option

a) Joint

b) Limited

c) Unlimited

d) Joint and Several


8) A major advantage of the cooperate form of organization is:

Select the correct option

a) Reduction of double taxation

b) Limited owner liability

c) Legal restrictions

d) Ease of organization


9) Which of the following is not the part of Partnership Deed?

Select the correct option

a) Name of the business

b) Capital of the business

c) Salaries of the partners

d) Rights of the partners


10) When international trade restricts due to safety, which one of the following barriers exists?

Select the correct option

a) Political system

b) Tariff

c) Laws

d) Subsidies


11) In which type of business, there is easiest dissolution?

Select the correct option

a) SOLE PROPRIETORSHIP

b) PARTNERSHIP

c) JOINT STOCK COMPANY

d) None of the given options


12) Which of the following is NOT an attribute of sole proprietor ship business?

Select the correct option

a) Easy startup

b) Profit sharing

c) Limited capital requirements

d) Unlimited liability


13) Business benefits the people by providing them

Select the correct option

a) Large number of services

b) Less number of services

c) Environmental pollution

d) Sub standard goods


14) Profit distributed among shareholders is called ___

Select the correct option

a) Retained earning

b) Dividend

c) Debenture

d) All of given options


15) Certificate of Commencement is issued by the:

Select the correct option

a) Promoters

b) Board of directors

c) CEO of the company

d) Registrar of the companies


16) Statutory report must be send to the shareholder before meeting that is certified by at least:

Select the correct option

a) 2 directors including CEO

b) 3 directors including CEO

c) 5 directors including CEO

d) 7 directors including CEO


17) ___ generally has unlimited liability.

Select the correct option

a)  A shareholder in a public company

b) A shareholder in a private company

c) A director having share capital

d) The owner of a sole proprietorship


18) A market survey is important because it tells you:

Select the correct option

a) How many & what types of people are shopping at a store

b) What the customer will buy

c) How much the customer will pay for the product

d) All of the given option


19) On which of the following dates Companies Ordinance came into force?

Select the correct option

a) January 1, 1981

b) January 1, 1984

c) January 1, 1985

d) January 1, 1983


20) The term tariff, as used in international trade, refers to:

Select the correct option

a)  The price of goods when they leave the producing country

b) A tax on imports

c) A limit on the quality of a good that can be imported into a country

d) A government payment to encourage exports


21) Which is first stage in the formation of Joint Stock Company?

Select the correct option

a) Commencement Stage

b) Incorporation stage

c) Capital subscription stage

d) Promotion stage


22) A cooperative society is formed by the people ___ for self-help through mutual help.

Select the correct option

a) Having extra resources

b) Of limited means

c) Having government jobs only

d) Running business only


23) Two or more organization combine together and form a new organization.

Select the correct option

a) Joint venture

b) Merger

c) Strategic alliance

d) All of given options


24) Those countries where people are earning below US $765 are known as:

Select the correct option

a) Middle income countries

b) Low income countries

c) High income countries

d) None of the given options


25) The sale of products and services via internet is fall under the:

Select the correct option

a) E-commerce

b) Online shopping

c) Real time trading

d) Outwards trading


26) Formation of ___ is very lengthy, very complicated and very technical job?

Select the correct option

a) Partnership

b) Joint stock company

c) Sole proprietorship

d) None of the given option


27) First director are usually named in the ___

Select the correct option

a) Memorandum of Association

b) Articles of Association

c) Prospectus

d) None of the given options


28) ___ meeting is the first meeting after commencement of business.

Select the correct option

a) Annual general meeting

b) Extra ordinary general meeting

c) Monthly meeting

d) None of the given option


29) The country becomes a ___ when the value of exports exceeds than value of imports in the balance of trade

Select the correct option

a) Debtor

b) Borrower

c) Creditor

d) Defaulter


30) A sole proprietorship business may have:

Select the correct option

a) One owner & one worker

b) Single owner and many workers

c) Direct dealing with customer

d) All of the given options