This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 41 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 41 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. For how many industries, licensing is still necessary? A) 6. B) 4. C) 8. D) 9. Show Answer Correct Answer: A) 6. 2. It involves the preparation and interpretation of financial statements primarily intended for external users. A) Bookkeeping. B) Financial Accounting. C) Management Accounting. D) None of the above. Show Answer Correct Answer: B) Financial Accounting. 3. The term "Uncertain Future" in the context of the business environment A) All factors can be precisely predicted. B) The future is highly stable and predictable. C) The future is elusive due to many differing forces at work. D) The future has no impact on business decisions. Show Answer Correct Answer: C) The future is elusive due to many differing forces at work. 4. It uses "Fund Accounting" which deals with the administration or use of public community funds to bring about service to the people. A) Cost Accounting. B) Financial Accounting. C) Government or Non-Profit Accounting. D) None of the above. Show Answer Correct Answer: C) Government or Non-Profit Accounting. 5. The political organization influnce the political environment such as A) Values that a society cherishes have a considerable influence on the functioning of business firms. B) Nature, ideology of government or party in power, extent of bureaucracy influence of primary group and philosophy of political parties. C) Medical devices, new plastics and production techniques. D) Gross domestic product, per capita income, markets for goods and services. Show Answer Correct Answer: B) Nature, ideology of government or party in power, extent of bureaucracy influence of primary group and philosophy of political parties. 6. Goods and services purchased by local consumers from overseas businesses A) Exports. B) Investment. C) Imports. D) Global sourcing. Show Answer Correct Answer: C) Imports. 7. What is the purpose of a SWOT analysis? A) To identify strengths, weaknesses, opportunities, and threats. B) To evaluate employee performance. C) To focus only on customer feedback. D) To analyze only financial data. Show Answer Correct Answer: A) To identify strengths, weaknesses, opportunities, and threats. 8. What are the main components of the micro environment in a business? A) Suppliers, shareholders, media, and society. B) Customers, suppliers, competitors, and stakeholders. C) Employees, government, technology, and economy. D) Regulations, weather, culture, and technology. Show Answer Correct Answer: B) Customers, suppliers, competitors, and stakeholders. 9. Which is an example of external users? A) Employees. B) Government. C) Investor. D) Owner. Show Answer Correct Answer: B) Government. 10. The Goods and Services Tax (GST) in India was implemented in which year? A) 2014. B) 2015. C) 2016. D) 2017. Show Answer Correct Answer: D) 2017. 11. Privatization means A) Planned disinvestment. B) Planned investment. C) Reduced multinational companies' control. D) Planned saving. Show Answer Correct Answer: A) Planned disinvestment. 12. What technological advancements can pose challenges to businesses? A) Simplified supply chain management. B) Enhanced customer loyalty programs. C) Increased manual labor requirements. D) Automation, AI, cybersecurity threats, and rapid digital transformation. Show Answer Correct Answer: D) Automation, AI, cybersecurity threats, and rapid digital transformation. 13. Which factors of Business Environment regards as controllable? A) Internal. B) External. C) All the above. D) None of the above. Show Answer Correct Answer: A) Internal. 14. In 2011 A financial inclusionplan was launched. What is the name of that plan? A) PM Jan Dhan Yojna. B) Self help group services. C) Swabhiman. D) Non of above. Show Answer Correct Answer: C) Swabhiman. 15. Which of the following phenomenon doesn't form the part of NEP, 1991? A) Demonetisation. B) Liberalisation. C) Privatisation. D) Globalisation. Show Answer Correct Answer: A) Demonetisation. 16. Can a company with a highly skilled workforce fail to respond to increasing competition in the industry? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 17. A business which operates globally has an increased risk of its data being compromised. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 18. Which of the following feature is not essential for a contract? A) It should be in writing only. B) Free consent of parties competent to contract. C) Lawful consideration and with a lawful object. D) It should not be declared void expressly. Show Answer Correct Answer: A) It should be in writing only. 19. Which type of elasticity measures the responsiveness of demand to changes in consumer income? A) Price elasticity of demand. B) Supply elasticity. C) Cross elasticity of demand. D) Income elasticity of demand. Show Answer Correct Answer: D) Income elasticity of demand. 20. What is the role of corporate culture in the internal environment of a business? A) It only affects external stakeholders. B) It sets the tone for employee behavior and interactions. C) It determines government policies. D) It is unrelated to employee morale. Show Answer Correct Answer: B) It sets the tone for employee behavior and interactions. 21. The Global Business Environment does not involve multiple sovereign nations outside of the organization's home environment. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 22. Giving freedom to Indian business and industries from all unnecessary government controls and restrictions is an example of A) Privatisation. B) Liberalisation. C) Globalisation. D) None of the above. Show Answer Correct Answer: B) Liberalisation. 23. Can shifts in cultural trends affect the way businesses market their products? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 24. The environment that the business has the most control over is the ..... A) Micro environment. B) Market environment. C) Macro environment. D) None of the above. Show Answer Correct Answer: A) Micro environment. 25. Macro Environment focus on political-legal, financial, technological and economic. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. ← PreviousNext →Related QuizzesClass 12 Business Studies Chapter 3 Business Environment Quiz 1Class 12 Business Studies Chapter 3 Business Environment Quiz 2Class 12 Business Studies Chapter 3 Business Environment Quiz 3Class 12 Business Studies Chapter 3 Business Environment Quiz 4Class 12 Business Studies Chapter 3 Business Environment Quiz 5Class 12 Business Studies Chapter 3 Business Environment Quiz 6Class 12 Business Studies Chapter 3 Business Environment Quiz 7Class 12 Business Studies Chapter 3 Business Environment Quiz 8Class 12 Business Studies Chapter 3 Business Environment Quiz 9Class 12 Business Studies Chapter 3 Business Environment Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books