How does a management team contribute to society?
Anonymous Quiz
11%
By setting profit maximization as the primary goal
21%
By providing goods and services at unreasonable prices
67%
By achieving efficiency and effectiveness, thereby providing quality products
2%
By focusing on self-interest only
β€3
Individuals running businesses without formal management education can call themselves managers?
Anonymous Quiz
43%
Yes, because they manage businesses
20%
No, because they lack formal education
23%
Yes, because they are entrepreneurs
15%
No, because they do not adhere to a code of conduct
Which criterion does management not strictly meet compared to traditional professions?
Anonymous Quiz
22%
Well-defined body of knowledge
43%
Restricted entry
22%
Professional association
13%
Ethical code of conduct
Which Indian institute is mentioned as specifically providing management education?
Anonymous Quiz
6%
Indian Institutes of Technology (IITs)
20%
Institute of Chartered Accountants of India (ICAI)
53%
Indian Institutes of Management (IIMs)
22%
All India Management Association (AIMA)
What is the minimum number of persons required to form a partnership firm according to the Indian Partnership Act, 1932?
Anonymous Quiz
4%
One
93%
Two
1%
Three
1%
Four
β€1
What does it mean for a partnership to have a 'mutual agency'?
Anonymous Quiz
12%
Partners can operate independently of each other.
11%
There is no need for mutual consent in business decisions.
73%
Every partner can participate in business affairs, and there's mutual agency between them.
4%
Partners cannot act on behalf of the firm.
What is the liability of partners in a partnership?
Anonymous Quiz
23%
Limited liability
67%
Unlimited liability
2%
No liability
7%
Joint liability only
What is a document in writing that contains the terms of the agreement for a partnership called?
Anonymous Quiz
2%
Partnership Bylaw
10%
Partnership Constitution
3%
Partnership Bond
85%
Partnership Deed
β€1
Which of the following is included in the Partnership Deed?
A. Names and Addresses of the firm
B. The accounting period of the firm C. Names of the family members of the partners D. Previous occupation of the partners, if any. E. Duration of partnership
A. Names and Addresses of the firm
B. The accounting period of the firm C. Names of the family members of the partners D. Previous occupation of the partners, if any. E. Duration of partnership
Anonymous Quiz
56%
A, B, and E only
15%
A, B and D only
4%
B, D and E only
25%
All A, B, C, D and E
Can a partnership firm be formed for the sole purpose of owning and sharing property?
Anonymous Quiz
12%
Yes
63%
No, owning property is not a valid business purpose for a partnership.
7%
Yes, only if the property is a house.
18%
Yes, only if the property is commercial.
π1
What is the significance of having rules for admission, retirement, and death of a partner in a Partnership Deed?
Anonymous Quiz
13%
It outlines the partnership's social events.
15%
It determines the partnership's annual budget.
2%
It specifies the partners' travel plans.
69%
It helps avoid disputes and confusion in such situations.
What is the nature of a Limited Liability Partnership (LLP)?
Anonymous Quiz
50%
A separate legal entity from its partners
6%
A branch of a company
9%
A sole proprietorship
35%
A partnership governed by the Partnership Act, 1932
β€2
Which of the following statements is true regarding the application of the Indian Partnership Act, 1932, to an LLP?
Anonymous Quiz
33%
The Indian Partnership Act, 1932, applies fully to an LLP.
25%
The Indian Partnership Act, 1932, does not apply to an LLP.
24%
Only certain sections of the Indian Partnership Act, 1932, apply to an LLP.
18%
The applicability of the Indian Partnership Act, 1932, to an LLP depends on its size.
β Class 12th Accounts Top 200 MCQ's Questions for Board Exam 2026 | Class 4
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π 10 questions Β· β± 30 sec
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Which work by John Maynard Keynes is considered one of the most important works in economics, published in 1936?
Anonymous Quiz
13%
The Wealth of Nations
12%
The Road to Serfdom
71%
The General Theory of Employment, Interest, and Money
3%
The Communist Manifesto
Who is considered the 'father of Economics' for his groundbreaking work in the 18th century?
Anonymous Quiz
31%
John Maynard Keynes
12%
Alfred Marshall
53%
Adam Smith
4%
Karl Marx
β€1
What is the Greek word from which the term 'Economics' is derived, meaning 'household management'?
Anonymous Quiz
4%
Ethniki
47%
Oikonomia
42%
Economica
6%
Anthropos
In his book 'The General Theory of Employment, Interest, and Money,' Keynes advocated for the use of which economic policy tool to stimulate the economy during recessions?
Anonymous Quiz
38%
Monetary policy
38%
Fiscal policy
14%
Supply-side policy
10%
Exchange rate policy
β€1
β Class 12th Accounts Top 200 MCQ's Questions for Board Exam 2026 | Class 5
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