Commerce Accountancy

Business and Project Management

1,146 Questions

Business and project management focus on organizational resources, strategic planning, and time management techniques used to achieve corporate objectives. It includes theories of administration and continuous improvement processes. Review these commerce and management questions to prepare for business administration sections in competitive exams.

Strategic managementTime managementOrganizational resourcesAdministration principles

Business and Project Management Questions

Multiple choice

Chief Executive is entrusted with

  1. entire powers of management

  2. substantially, the entire powers of management

  3. Both (1) and (2)

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

CEO of company is entrusted with substantial powers of management.

Multiple choice

Consider the following statements:

Performance budgeting is a system of resource allocation that

  1. organises the budget document by operations and programmes.

  2. links performance levels of operations and programmes with specific budget.

Which of the statements given above is/are correct?

  1. Only 1

  2. Only 2

  3. Both 1 and 2

  4. Neither 1 nor 2
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Performance budgeting is a results-oriented approach that organizes the budget by operations and programs (Statement 1) rather than traditional line-item classification. It also establishes a direct link between performance levels/outputs and the allocated budget (Statement 2), requiring measurable performance indicators. Both statements are correct.

Multiple choice

Which of the following are among the 14 principles of management in the classical management work of Henri Fayol?

  1. Personnel tenure
  2. Unity of command
  3. Core competence
  4. Scalar chain Select the correct answer using the code given below

  1. Only 1,2 and 3

  2. Only 2 and 4

  3. Only 1 and 3

  4. 1,2,3 and 4
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Henri Fayol's 14 principles of management include 'unity of command' (employees should receive orders from one superior) and 'scalar chain' (clear chain of authority from top to bottom). However, 'core competence' is a modern strategic management concept from Prahalad and Hamel (1990s), not part of Fayol's classical management work. 'Personnel tenure' is also not among Fayol's 14 principles, though stability of tenure is.

Multiple choice

Which one of the following statements is not correct?

Wider span of control is consistent with efforts of the organizations to

  1. get closer to customers

  2. get closer to employees

  3. get strict in controlling the functions

  4. improve supervision
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A wider span of control means fewer hierarchical layers, which helps organizations get closer to customers (flatter structure, faster response) and employees (less bureaucracy, more autonomy). It does NOT improve supervision - in fact, supervision becomes more challenging when one manager oversees many subordinates. Option D correctly identifies that improving supervision is NOT consistent with wider span of control.