Business Arrangements and Professional Practices Quiz
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Questions and Answers

What distinguishes employment from business?

  • Rendering personalized services based on specialized knowledge
  • Working under the rules of service (correct)
  • Working irregularly for variable remuneration
  • Engaging in the purchase and sale of goods or services
  • Earning profit from specialized services

    • What is the primary objective of business activities?

  • Rendering personalized services based on specialized knowledge
  • Providing general services without specialized knowledge
  • Engaging in the purchase and sale of goods or services (correct)
  • Working under the rules of service
  • Earning profit from specialized services

    • What is the defining characteristic of a profession?

  • Engaging in the purchase and sale of goods or services
  • Working under the rules of service
  • Regular work for agreed remuneration
  • Providing general services without specialized knowledge
  • Rendering personalized services based on specialized knowledge (correct)

    • What is the term used for the individuals engaged in a profession?

    <p>Professionals</p> Signup and view all the answers

    What is the term for the remuneration paid by the employer to the employee?

    <p>Salary or wages</p> Signup and view all the answers

    What distinguishes employment from business?

    <p>Employment involves regular work for agreed remuneration, while business focuses on profit from goods or services</p> Signup and view all the answers

    Which of the following best defines a profession?

    <p>An activity requiring specialized knowledge and skill for personalized services</p> Signup and view all the answers

    What is the primary objective of business activities?

    <p>To engage in the purchase and sale of goods or services for profit</p> Signup and view all the answers

    What is the defining characteristic of a profession?

    <p>Specialized knowledge and education</p> Signup and view all the answers

    What term is used for the individuals engaged in business activities?

    <p>Entrepreneurs</p> Signup and view all the answers

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