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Jamia Millia Entrance Business Studies — practice by topic

Browse 30 questions across 3 Business Studies topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Business Studies topics

Business and Economic Systems (30)Business Studies (30)University Entrance (30)

Try a Business Studies question

An organisation seeking profit by supplying goods and services people want is a:Read the answer and worked solution →The money a company receives from selling goods or services is its:Read the answer and worked solution →A company whose costs exceed its revenues records a:Read the answer and worked solution →An organisation whose aim is something other than profit is a:Read the answer and worked solution →

Worked practice questions

An organisation seeking profit by supplying goods and services people want is a:

  1. Business
  2. Bulletin
  3. Barrister
  4. Broadcast
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Correct answer: A. Business

1. It serves customers who want something. 2. It aims to earn more than it spends. 3. That organisation is a business. _Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._

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The money a company receives from selling goods or services is its:

  1. Rebate
  2. Revenue
  3. Reserve
  4. Retainer
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Correct answer: B. Revenue

1. It arrives before costs are taken out. 2. It is the top line of the accounts. 3. That money is revenue. _Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._

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A company whose costs exceed its revenues records a:

  1. Loss
  2. Lien
  3. Lease
  4. Levy
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Correct answer: A. Loss

1. Nothing is left after paying costs. 2. The shortfall shows in the accounts. 3. That result is a loss. _Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._

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How to practise

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