Nature and Scope of Business MCQs with answers

Nature and Scope of Business MCQs: Free access to Multiple Choice Questions on Business.

In this blog post, we have provided MCQs on the Nature of Business, Scope of Business, Business Support Services. These Business MCQs are very helpful for all classes and entrance exams.

Nature and Scope of Business MCQs

1.  ………….. refers to the process of buying goods and services.





2. In employment, return or reward is in form of …………..





3. The activities in which the individuals engage themselves on a regular basis and their livelihood are known as their………………….





4. The primary objective of every profession is to provide ……………….





5. Which of the following activities are auxiliaries to trade i.e. facilitate trade?





6. Which of the following does not belong to the construction industry?





7. Which of the following is a non-economic activity?

 A Chartered Accountant preparing accounts of a firm

 A person working in a school canteen

 A man white-washing his home

 A teacher teaching in a school

8. Which of the following is not a Profession?



 Chartered Accountants


9. Which of the following is not a nature of business risk?


 Profit is the reward for risk

 Difficult to measure


10. Which one is not a type of External trade?





11. Which of the following is not a Public Sector Bank?

 State Bank of India

 Syndicate Bank

 Bank of India

Reserve Bank of India

12. Which of the following is not a type of Bank account?

 Saving Deposit Account

Cash Deposit Account

 Current Deposit Account

 Fixed Deposit Account

13. Which of the following service is not offered by E-banking?

 Digital Cash


 Cash Credit

 Electronic Funds Transfer

14. These plans offer twin benefits of investment and insurance cover

 Pension Plans

 Joint Life Policy

 Money Back Policy

 Unit Plans

15. The principle of ……………….. implies that the insured is not allowed to make any profit from insurance contract on happening of an event that is insured against

 Principal of Subrogation

 Principal of Mitigation

 Principal of Indemnity

 Principal of Contribution

16. Which is the most economical mode of transport for long-distance within the country?

 Rail Transport

 Road Transport

 Water Transport

 Air Transport

17. Bells, whistles, buzzers, and horns are types of:

 Verbal Communication

 Written Communication

 Aural Communication

 Gestural Communication

18. These are used to store imported goods for which import duty is yet to be paid :

 Bonded Warehouses

 Private Warehouses

 Public Warehouses

 Co-operative Warehouses

19. …………….. is a fund settlement system where transactions are settled in batches.



 BANK Overdraft

 Cash Credit

20. Small retail shops established for the sale of postal stationery items :

 Value Payable Post (VPP)

 Post Shoppe

 Media Post

 Retail Post

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