Business And Commerce - Study Mode
[#326] The structure of an organisation in which there is separation of ownership and management is called
Correct Answer
(C) Company
[#327] List out from the given statements the important ethical principles that a business should follow: 1. To take the necessary action for the development of the concerned industry or business. 2. Pay taxes and discharge other obligations promptly. 3. To ensure the best utilisation of the human resources. 4. Refrain from secret kickbacks or pay-offs to customers, suppliers, administrators, etc. 5. Ensure payment of fair wages and fair treatment of employees. Choose the correct answer from the options given below:
Correct Answer
(B) 2, 3 and 5
[#328] The maximum number of members in case of private limited company is _________.
Correct Answer
(D) 200
Explanation
Solution: In case of private companies, the maximum limit has been increased by the new Companies Act, 2013 from 50 to 200. There is however no maximum limit on the no. of members in a public company.
[#329] The moral beliefs held by an individual.
Correct Answer
(A) Values
Explanation
Solution: The moral beliefs held by an individual is known as Values. Moral values are usually communal and shared by the public in general, thus if there is no agreement among community members no moral values will be established.
[#330] Ethics is derived from the Greek word.
Correct Answer
(A) ethos
Explanation
Solution: Ethics is derived from the Greek word ethos. The term ethics is derived from the Greek word ethikos which itself is derived from the Greek word ethos, meaning custom or character. In philosophy, ethical behavior is that which is “good.” The field of ethics or moral philosophy involves developing, defending, and recommending concepts of right and wrong behavior.