Question 1

Aarav approached his mentor requesting Rs.10 Lakh to start his new venture, a mobile repair and service centre. Although his mentor could easily arrange the funds, he encouraged Aarav to apply for a bank loan instead, explaining that it would help him develop financial discipline and accountability. When Aarav met the bank officials, they asked him to present a detailed business proposal. Unsure of how to prepare one, Aarav began looking for someone who could guide him in drafting the business plan.

Who among the following can prepare the business plan? - Lawyers - Accountants - Marketing Consultants - Engineers

Options: 1. i and ii 2. i, ii and iii 3. ii and iii 4. i, ii, iii, iv

Accepted Answer

All of the above

Question 2

Business acumen and wealth seldom meet in one person. This desirable combination led to the emergence of _____ form of business.

Accepted Answer

Partnership

Question 3

Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below.

Assertion (A): A company which is suffering huge losses can be shut down only by the procedures laid down in Companies Act.

Reason (R): A company can be born as well as liquidated only by law.

Accepted Answer

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Question 4

In which business organisation, there is a separation of ownership and management?

Accepted Answer

Company form of business

Question 5

Riya joined Siddharth Pvt. Ltd., as a Construction Supervisor. To accomplish the business goals, she provides clear instructions and directions to her team regarding their tasks, and they effectively implement the preconceived production schedule. Identify the elements of one of the components of the business plan.

Accepted Answer

Dispatching

Entrepreneurial Planning

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