TEC Assessment 7 Answer Key 2024 PDF – Basic Financial Terms is the 7th Assessment of Certificate Course in Entrepreneurship (CCE). Before appearing in CSC TEC Final Exam, you need to complete TEC Assessment No. 7. It contains questions related to Basic Financial Terms. Such as:
- What is a Business?
- Primary Objective of Business
- Key Inputs of Business
- Output of Business
| TEC Module Name | TEC Assessment Link |
|---|---|
| Entrepreneurship | TEC Assessment No. 1 Questions and Answers |
| Entrepreneurship and Entrepreneurial Character | TEC Assessment No. 2 Questions and Answers |
| Identifying Business Opportunities | TEC Assessment 3 Answer Key |
| Understanding Cost Structures | TEC Assessment 4 Answers |
| Long Term Orientation | TEC Assessment 5 Answers |
| Recording Business Transactions | TEC Assessment 6 Answers |
| Basic Financial Terms | TEC Assessment 7 Answer Key |
| Accounting and Business Reporting | TEC Assessment 8 Answers |
| Marketing Education Handling Questions & Concerns | TEC Assessment 9 Answers |
| Marketing Education Value | TEC Assessment 10 Answer Key |
TEC Assessment 7 Answer Key 2024 – Basic Financial Terms
Table of Contents
Question No. 1: _____ is about planning for the uncertain future and deciding what kind of investments should the business make. _ अनिश्चित भविष्य की योजना बनाने और यह तय करने के बारे में है कि व्यवसाय को किस तरह का निवेश करना चाहिए।
- Finance वित्त
- Governance शासन
- Maintenance रखरखाव
- Dominance प्रभाव
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Question No. 2: Identify a non-example of accounting? लेखांकन का एक गैर-उदाहरण पहचानें?
- How much value in rupees of goods or services has the business sold माल या सेवाओं के रुपये में कितना मूल्य है जो व्यवसाय ने बेचा है
- List of investments in land, facilities, buildings, etc. the business made भूमि, सुविधाओं, भवनों, आदि में किए गए निवेश की सूची
- Costs the business incurred. व्यवसाय में होने वाला खर्च।
- List and details of favourite customers पसंदीदा ग्राहकों की सूची और विवरण
Question No. 3: What is a Sole proprietorship? एकमात्र स्वामित्व क्या है?
- A single owner who is also usually responsible for the day-to-day running of the business एक अकेला मालिक जो आमतौर पर दिन-प्रतिदिन के व्यवसाय के लिए जिम्मेदार होता है
- A single employee who is also usually responsible for the day-to-day running of the business एक अकेला कर्मचारी जो आमतौर पर दिन-प्रतिदिन के व्यवसाय के लिए जिम्मेदार होता है
- A single retailer is also usually responsible for the day-to-day running of the business एक अकेला विक्रेता आम तौर पर दिन-प्रतिदिन के व्यवसाय के लिए जिम्मेदार होता है
- A single partner who s also usually responsible for the day-to-day running of the business एक अकेला सहभागी जो आमतौर पर दिन-प्रतिदिन के व्यवसाय के लिए जिम्मेदार होता है
Question No. 4:What is the primary objective of a business? किसी व्यवसाय का प्राथमिक उद्देश्य क्या है?
- Make money for investors by providing goods or services माल या सेवाएं प्रदान करके निवेशकों के लिए पैसा कमाएं
- Make money for retailers by providing goods for services सेवाओं के लिए सामान प्रदान करके खुदरा विक्रेताओं के लिए पैसे कमाएँ
- Make money for customers by providing goods or services सामान या सेवाएं प्रदान करके ग्राहकों के लिए पैसे कमाएँ
- Make money for employees by providing goods or services सामान या सेवाएं प्रदान करके कर्मचारियों के लिए पैसे कमाएँ
Question No. 5:_____is a way for a business to raise capital but there is no obligation to repay entities that provide capital. Instead, entities are given ownership of the business. _ एक व्यवसाय के लिए पूंजी जुटाने का एक तरीका है लेकिन पूंजी प्रदान करने वाली संस्थाओं को चुकाने के लिए कोई दायित्व नहीं है। इसके बजाय, संस्थाओं को व्यवसाय का स्वामित्व दिया जाता है।
- Liabilities देनदारियों
- Equity इक्विटी
- Partnership साझेदारी
- Assets संपत्ति
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Question No. 6: What is the output of the business? व्यवसाय का उत्पादन क्या है?
- Goods माल
- Services सेवाएं
- Both of the above उपरोक्त दोनों
- Neither is correct कोई भी सही नहीं
Question No. 7: What are the different forms of business? व्यवसाय के विभिन्न रूप क्या हैं?
- Sole proprietorship, Friendship, Corporations एकमात्र स्वामित्व, मैत्री(मित्रता), निगम
- Sole proprietorship, Partnership, Corporations एकमात्र स्वामित्व, भागीदारी, निगम
- Sole proprietorship, Partnership,Commemoration एकमात्र स्वामित्व, साझेदारी, स्मरणोत्सव(स्मारक समारोह)
- Sole presidentship, Partnership,Commemoration एकमात्र अध्यक्ष, भागीदारी, स्मरणोत्सव (स्मारक समारोह)
Question No. 8: What are the key inputs of business? व्यवसाय के प्रमुख निवेश वस्तुएं क्या है?
- Labor श्रम
- Land भूमि
- Capital पूंजी
- All of the above उपरोक्त सभी
Question No. 9: has multiple owners or partners, some of whom are also usually responsible for the day-to-day running of the business. के कई मालिक या साझेदार हैं, जिनमें से कुछ व्यवसाय के दिन-प्रतिदिन के चलने के लिए भी जिम्मेदार हैं।
- Friendship मित्रता
- Presidentship अध्यक्षता
- Partnership साझेदारी
- Corporations निगम
Question No. 10: What is a corporation? निगम क्या है?
- A separate legal entity with a large number of owners बड़ी संख्या में मालिकों के साथ एक अलग कानूनी इकाई
- A separate illegal entity with a large number of owners बड़ी संख्या में मालिकों के साथ एक अलग अवैध संस्था
- Multiple owners or partners, some of whom are also usually responsible for the day-to-day running of the business कई मालिक या साझेदार, जिनमें से कुछ व्यवसाय के दिन-प्रतिदिन के चलने के लिए भी जिम्मेदार हैं
- All of the above. ऊपर के सभी(उपरोक्त सभी)
What is a Sole proprietorship in Business?
- A single owner who is also usually responsible for the day-to-day running of the business.
- The simplest example of a sole proprietorship is your telawalaor local kirana store.
Advantages of Sole Proprietorship
A single person owns and runs the business, his/her interests are aligned.
All profits are taxed as personal income (single taxation).
Disadvantages of Sole Proprietorship
- Uncertainty about business beyond the single owner’s life.
- Given this uncertainty, it is difficult for sole proprietorships to raise capital from various external sources.
- Personal wealth may be used to cover business losses, leading to unlimited liability for the owner.