Industry Ethics And Legal Issues MCQ's with Answers
set IV
Q1. A written statement of policies and principles that guides the behaviour of all employees is called
a) code of ethics
b) word of ethics
c) ethical dilemma
d) None of the above
Answer is a) code of ethics
Q2. The profits of recognized Startups are exempted from income-tax for a period of how many years?
a) 2 years
b) 3 years
c) 4 years
d) 1 year
Answer is b) 3 years
Q3. A private company means a company which has a minimum paid up capital of Rs.
a) 1,00,000
b) 5,00,000
c) 50,00,000
d) None of the above
Answer is b) 5,00,000
Q4. Entrepreneurship can best be described as:
a) Process that requires setting up a business
b) Taking a significant risk in a business context
c) Having a strong vision
d) A process involving innovation, new products or services, and value creation
Answer is d) A process involving innovation, new products or services, and value creation
Q5. Moral values varies from
a) Culture to culture
b) People to people
c) State to state
d) All the above
Answer is b) People to people
Q6. Property of the company belongs to
a) Company
b) Share holders
c) Members
d) Promoters
Answer is a) Company
Q7. An entrepreneur doing business worldwide is called:
a) International entrepreneurship
b) Intrapreneurship
c) Domestic entrepreneurship
d) Imports
Answer is a) International entrepreneurship
Q8. Utilitarianism is an approach to ethics that means
a) Whatever does the most good for the most number of people is best.
b) Fairness is the fundamental aspect of ethical conduct and people in a dispute should look at the situation outside of their own vested interests in the outcome to decide what is right.
c) Journalists often face conflicts among ethical principles in the course of their work and must often make difficult decisions.
d) Not all ethical precepts can be applied in all situations, but they do provide useful guidelines for media professionals in their behavior.
Answer is a) Whatever does the most good for the most number of people is best.
Q9. If someone starts a new business that is a service station, this is an example of an:
a) new concept/new business
b) new concept/existing business
c) existing concept/new business
d) existing concept/existing business
Answer is c) existing concept/new business
Q10. Marketing:
a) Makes customers aware of you
b) Solicits the sales and completes the orders
c) Not Delivers your company's message
d) Inventory management
Answer is a) Makes customers aware of you
Q11. What are the benefits of NASSCOM?
a) Access to strategic investments and grants
b) Faster access co global markets and JV/OEM/partnership options
c) Direct fast access to senior executives
d) All of the above
Answer is d) All of the above
Q12. TARUN stage of MUDRA loan scheme provides maximum amount of?
a) RS 20 lakhs
b) RS 50 lakhs
c) RS 10 lakhs
d) RS 40 lakhs
Answer is c) RS 10 lakhs
Q13. What is the maximum loan limit under "Kishor" Scheme of PM Mudra Yojana?
a) 2,00,000
b) 1,00,000
c) 3,00.000
d) 5,00,000
Ans is d) 5,00,000
Q14. Which statement is/are true?
a) Ethics is not synonymous to religious morality or moral theology
b) Ethics is the principle that guide the human behaviour
c) The terms 'ethics' and 'morality' are not synonymous terms
d) All of the above
Ans is d) All of the above
Q15. Ethics must guide technology in the direction of
a) Political justice
b) Cultural justice
c) Social justice
d) None of the Above
Ans is c) Social justice
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