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

Which one of the following is not a top management function?

  1. Planning

  2. Organising

  3. Decision making

  4. Day to day operations
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Top management is primarily concerned with long-term strategy, planning, and policy-making. Day-to-day operations are typically the responsibility of lower-level or operational management.

Multiple choice

Planning function can

  1. tell a work allocation to all

  2. monitor whether the things allocated are in proper way

  3. make a blue print of ideas and work

  4. all of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Planning is the process of setting goals and determining the best course of action to achieve them. It serves as a blueprint or roadmap for future organizational activities.

Multiple choice

Planning relates to

  1. forecasting

  2. training

  3. grouping

  4. all the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Planning involves looking ahead to anticipate future conditions and requirements. Forecasting is a fundamental tool used within the planning process to predict these future trends.

Multiple choice

Directing can be related with

  1. grouping

  2. evaluating

  3. training

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

Directing is the management function that involves guiding, supervising, and motivating employees to achieve organizational goals. It is fundamentally about influencing human behavior.

Multiple choice

Controlling means

  1. evaluating

  2. forecasting

  3. training

  4. motivating
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Controlling is the process of monitoring performance, comparing it against established standards, and taking corrective action if necessary. It is essentially an evaluative process.

Multiple choice

Policy making is a part of

  1. coordinating

  2. planning

  3. organising

  4. all the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Planning involves defining objectives and determining the policies, procedures, and strategies required to achieve them. Therefore, policy making is a core component of the planning function.

Multiple choice

A strategy

  1. is the right combination of factors, both external and internal.

  2. is the relative combination of actions.

  3. may involve even contradictory action.

  4. all of these.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A strategy is a comprehensive plan that integrates various factors, actions, and decisions. It often requires flexibility and may involve contradictory or diverse actions to achieve a long-term goal.

Multiple choice

Directions: The question has a word, which is followed by its four formations. You are required to tick the correct formation of the word as per the requirement of the question.

Which of the following is the correct “adverb” form of “manage”?

  1. Management

  2. Managerial

  3. Manageably

  4. Manageable
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

(1) Management (art of managing) (Noun) (2) Managerial (concerning management) (Adjective) (3) Manageably (way of managing) (Adverb) (4) Manageable (Which can be managed) (Adjective) 

Multiple choice

Tactical decisions are called

  1. routine decisions

  2. strategic decisions

  3. programmed decisions

  4. non programmed decisions
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Tactical decisions are routine, short-term decisions made to implement strategic plans. They are often repetitive and follow established procedures.

Multiple choice

Management is a profession because

  1. it has a formal and specified body of knowledge

  2. it is based on heredity

  3. it is based on experience

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

Management is considered a profession because it involves a systematic body of knowledge, formal training, and professional standards, similar to other recognized professions.

Multiple choice

Management is confined to

  1. managing the business

  2. managing the government

  3. managing the family

  4. all of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Management is a universal process that is applicable to all types of organizations, including businesses, government entities, and even households, as it involves planning, organizing, and controlling resources.

Multiple choice

Which one of the following is Oliver Sheldon's popular book?

  1. Dynamic Administration

  2. Philosophy of Management

  3. Economic Management

  4. Functions of an executive
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Oliver Sheldon is best known for his book 'The Philosophy of Management', published in 1923, which bridged the gap between scientific management and social responsibility.