Commerce Accountancy

Business and Project Management

1,444 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

Directions: The following passage has five blanks numbered 1 to 5. Choose the option from the alternatives (1), (2), (3), (4) and (5) to fill blank 5.

A serendipitous (1) __________ of Journey is that Nabisco now has the information it needs to create a 'full portfolio view' of new development projects. Senior managers quickly and easily see what they have in the pipeline and (2) __________ whether the company has the right product mix for the near and long terms. Putting together or (3) __________ a rolling eighteen-month aggregate plan used to be an enormous task that required someone to check with all project teams, track down numbers and (4) __________ information together manually, Journey does this automatically by generating a web-based report that lays out project (5) __________ along a timeline. In addition to this high-level view, managers get project-specific information by drilling down on a project.

  1. deadlines

  2. milestones

  3. benchmarks

  4. goals

  5. targets
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

‘Along a timeline’ would obviously mean ‘milestones’. Milestones means progress or development, i.e. how much is to be achieved within a given time frame.

Hence, option (2) is the correct answer.

Multiple choice

In what way performance appraisal is helpful to the management?

  1. To identify strengths & weaknesses

  2. To identify only weaknesses

  3. To identify only strengths

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

During performance appraisal the appraiser will provide a form to employee in which  their will be some questions related to his work knowledge. Based on the answers he will find out  the employee's strengths and weakness.

Multiple choice

"For Managing Tomorrow" is the baseline for

  1. Business World

  2. Business Today

  3. Business Standard

  4. Economic Times
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

For Managing Tomorrow is the well-known tagline for the business magazine Business Today. It reflects the magazine's focus on future business trends.

Multiple choice

Management is a

  1. behavioural science

  2. exact science

  3. physical science

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

Management is a behavioural science. The management has to deal  with people  at every stage and it is very difficult to predict accuratly the behaviour of people. Since it has to deal with the behaviour of human beings, it is behavioural science.

Multiple choice

Which is factor of organisation's Policy?

  1. Accounting Policy

  2. Production and Purchasing Policy

  3. Research and Development

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

An organization's policy covers various functional areas, including accounting, production, purchasing, and research and development. Therefore, all these are valid factors of organizational policy.

Multiple choice

All activities involving the hindrances in the process of exchange are included in commerce. Match the hindrances with the activities ||| |---|---| |Hindrances to business |Activities to remove the hindrances| |A. Person|1. Trade| |B. Place|2. Transport| |C. Risk|3. Insurance|

  1. A-1, B-2, C-3

  2. A-2, B-3, C-1

  3. A-3, B-1, C-2

  4. A-2, B-1, C-3

  5. A-1, B-3, C-2
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

This is the correct matching. The hindrance to the persons is removed by trade by making goods available to consumers. The hindrance to place is removed by transport by moving goods from places of production to markets. The hindrance to risk is removed by insurance against losses.

Multiple choice

Which of the following is not a step in the Organization planning?

i) Determine the Objectives ii) Analyse the existing oprganisation iii) Formulate long-range target organization iv) Determine the method of change v) Prepare the phase plans vi) Implement the plan

  1. Only (iii)

  2. Only (v)

  3. Both (iii) and (v)

  4. None of these

  5. All the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The steps listed (i through vi) are all standard components of organizational planning. Since none of these steps are incorrect, 'None of these' is the correct choice to indicate that all listed items are indeed steps.

Multiple choice

Which of the following is not true about strategic HRM?

  1. It focuses on result.

  2. It is a reactive approach.

  3. Its major function is development of both people and organisation.

  4. Responsibility is on both line managers and HR specialist.

  5. Significant ion formulation and implementation of Hr strategy.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

It is a proactive approach.