MGT211 Midterm Objective Set 3

Which of the following is/are the component/s of business?

➢ Industry ➢ Commerce ➢ Both industry and commerce ➢ Trade and aids to trade

MGT211 · Introduction to Business · Most Repeated MCQS Midterm ·  Midterm Short Notes ·  Final Term Short Notes ·  Mid Term Past Paper ·  Final Term Past Paper ·  Mega File ·  Important Question ·  Repeated Question ·  Solved Past Paper ·  Moaz & Waqar ·  Accurate Assignment ·  Quiz File ·  Accurate GDB ·  Current Paper ·  Vu New Update

Which of the following would generally have unlimited liability?

➢ A limited partner in a partnership ➢ A shareholder in a corporation ➢ The owner of a sole proprietorship ➢ A member in a limited liability company (LLC)

In which type of business entity the entire ownership interest is transferable most freely ?

➢ Limited liability company

Which of the following enjoys limited liability?

➢ A general partnership ➢ A Corporation ➢ A sole proprietorship

_______ involves long-term, value-added relationships developed over time with Customers and suppliers: ➢ Marketing Era Marketing ➢ Consumer Marketing ➢ Exchange Marketing ➢ Relationship Marketing

An activity in which two or more parties give something of value to each other to satisfy perceived needs is called: ➢ Sales process ➢ Exchange process ➢ Relationship process ➢ Production process

What is potentially the biggest advantage of a small partnership over a sole proprietorship?

➢ Unlimited liability ➢ Single tax filing ➢ Difficult ownership resale ➢ Raising capital

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.

The degree to which a tool or test measures what it is supposed to measure is known as:

➢ Validity ➢ Reliability ➢ Dependability ➢ Goodness of fit.

An enterprise that provides products or services that customers desire is a / an:

➢ Institution ➢ Market ➢ agency ➢ business

The different types of stakeholders involved in a business include all of the following except: ➢ Owners ➢ Creditors ➢ couriers ➢ employees