vu mgt211 Mid Term - Quiz No.2
vu mgt211 Introduction To Business Quiz
This quiz belongs to book/course code vu mgt211 Introduction To Business of vu organization. We have 30 quizzes available related to the book/course Introduction To Business. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Mid Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: Under which cost flow assumption is the ending inventory composed of the earliest purchased merchandise?
FIFO
LIFO
Average cost
Specific identification
Question 2: which of the following is an off-the-job training methods?
Lectures
Business Games
Case Study method
All of the given options
Question 3: Which of the following statements is NOT true about services?
They are experienced, used or consumed.
They are often sold first, then consumed.
They are perishable.
They are tangible.
Question 4: The liabilty of a sole trader is:
Limited only to his investment in the business
Limited to the total resources of the business
Unlimited
Not defined
Question 5: Personal selling task in which salespeople try to persuade buyers to purchase products by providing information about their benefits is:
Order Processing
Creative Selling
Missionary Selling
None of the given option
Question 6: Profit and loss account is also termed as __________
Income statement
Balance sheet
Trial Balance
None of the given options
Question 7: The situation when a country imports more than its exports is:
A trade surplus.
A recession.
A trade deficit.
An expansion.
Question 8: Auditors are generally appointed and their remuneration, fixed at the __________
Extraordinary Meeting
Statutory Meeting
Director's Meeting
Annual General Meeting
Question 9: When a person provides his services to another person on the basis of fixed salary is known as:
Employment
Unemployment
Government service
All of the given options
Question 10: The preferred method for achieving total quality in process output is to:
Rely on a team of highly trained and dedicated inspectors.
Rely on operator self-inspection and self-correction.
Build and install an error-proof process and maintain it.
Perform inspection at the next process.
