Friday, April 05, 2019

Small Business Management Multiple Choice Questions and Answers

Multiple Choice Questions and answers
1)          Most of the small-scale enterprises depend upon outdated technology.                 True
2)          Investment is plant and machinery in small-scale units has not been limited by the Government Policy on Small-scale Sector, 1991.                     False, limited upto 1 crore              
3)          SIDO is the apex body in the country for promotion of small-scale industries.        True [Small Industries Development Organisation (SIDO)]

4)          Directorate of Industries in the State level apex body for promotion of small-scale industries.                        False     
5)          Small-scale industries are labour-intensive.                     True
6)          Small-scale units use local resources.                                                True
7)          Small-scale industries spend heavy amount in advertising.                          False
8)          Small-scale units lack of resources and knowledge for effective sales promotion.                                True
9)          Small enterprises are privately owned and operated small business.                       True
10)      The full form of SISIs is small Industries Service Institutes.                                          True
11)      Small-scale enterprises are managed by the Central Government.                           False     
12)      Working capital means the current asset.                        False, Net current assets i.e., CA – CL
13)      Small-scale industries are suited for creation of employment.                    True
14)      Small-scale industries are capital-intensive.                                     False
15)      Service enterprises are engaged in the production of goods.                      False
16)      Finance is the lifeblood of business.                    True
17)      Small- scale industries are suited for creation of employment.                   True
18)      Political instability is an important internal cause of industrial sickness.                 False
19)      Market promotion is an external problem of small business enterprises.                               True
20)      The small business are financed by the state government.                         False
21)      The first step for the product planning is idea formulation.                         True
22)      The life of product is increased by product modification.              False, It increases sales
23)      Management and control of small-scale firm is in the hand of owner.                      True
24)      Good branding serves as a silent promoter.                                     True
25)      Small-scale enterprises are privately owned and operated business. (Small-scale/Large-scale)
26)      The Small Industries Service Institutes (SISIs) are set up to provide consultancy and training.
27)      Small-scale industries are suited for creation of employment. (employment/career)
28)      Purchasing branded products give psychological satisfaction to the buyers. (physical/psychological).
29)      Labour-intensive industrial unit require more working capital. (less/more)
30)      Life of a product is increased by product modification. (increased/decreased).
31)      Production is meant for consumption of goods. (marketing / consumption)
32)      Good branding services as a silent promoter. (salesman / promoter)
33)      Management and control of small scale firm is with the owner. (owner / government)
34)      Reasons behind existence of idle capacity in small-scale enterprise is shortage of working capital
35)      Innovation is important in modern time because of stiff competition.
36)      The first step for product planning is Idea formulation.                                [Idea formulation/commercialization]
37)      The Micro, Small and Medium Enterprises Act were passed in the year 2006.                      [2006/1986]
38)      EDP – Entrepreneurship Development Programme
39)      SIDC – State Industrial Development Corporation
40)      BEP – Break Even Point
41)      NIDC – National Industrial Development Corporation
42)      SSIB – Small Scale Industries Board (Founded in 1954)

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