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 elements of accounts using computerised accounting system grouping and codification of accounting steps in installation of cas accounting information system

______________ reports will be prepared upon the specifications of the management.

  1. Summary

  2. Demand

  3. Customer/Supplier

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

Customer/Supplier reports are often generated based on specific management specifications regarding which entities to analyze or what time periods to cover.

Multiple choice business organisation introduction to financial markets concept of financial market meaning and definition of financial market concepts and functions of financial markets

Which of the following is example of consumer's co-operative society?

  1. Haryana handloom

  2. Gujarat co-operative milk marketing federation

  3. Apna bazar

  4. Urban Cooperative banks
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Apna bazar is an example of consumer's co-operative society. A consumer cooperative can be defined as a cooperative business owned by its customers for their mutual benefit. This type of cooperative business is service oriented rather than pecuniary profit.

Multiple choice commerce business finance financial planning financing financial management

Financial planning helps in coordinating _________ business functions.

  1. one

  2. two

  3. various

  4. three
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
Financial planning is an important part of overall planning of any business enterprise. It aims at enabling the company to tackle the uncertainty in respect of the availability and timing of the funds and helps in smooth functioning of an organisation.
Multiple choice commerce business finance financial planning financing financial management

_________ plan of action prepared under financial planning reduces waste, duplication of efforts, and gaps in planning.

  1. Detailed

  2. Short

  3. General

  4. Basic
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans.
Therefore detailed plan of action is prepared under financial planning reduce waste, duplication of efforts, and gaps in planning.
Multiple choice commerce business finance financial planning financing financial management

 ______ means pre-estimating financial needs of an organization to ensure availability of adequate finance.

  1. Financial planning

  2. Material planning

  3. Value chain planning

  4. Capital structure decision
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Financial Planning is the process of estimating the capital required and determining it’s competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an enterprise.

Financial Planning has got many objectives to look forward to:
  • Determining capital requirements- This will depend upon factors like cost of current and fixed assets, promotional expenses and long- range planning. Capital requirements have to be looked with both aspects: short- term and long- term requirements.
  • Determining capital structure- The capital structure is the composition of capital, i.e., the relative kind and proportion of capital required in the business. This includes decisions of debt- equity ratio- both short-term and long- term.
  • Framing financial policies with regards to cash control, lending, borrowings, etc.
  • A finance manager ensures that the scarce financial resources are maximally utilized in the best possible manner at least cost in order to get maximum returns on investment.
Multiple choice commerce business finance financial planning financing financial management

____________ means pre-estimating financial needs of an organization to ensure availability of adequate finance.

  1. Financial planning

  2. Material planning

  3. Value chain planning

  4. Capital structure decision
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Financial Planning is the process of estimating the capital required and determining it’s competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an enterprise.

Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives.

Multiple choice installments banking business and commercial activities economics maths

The instalment scheme in which companies take $4$ or $5$ instalments in advance is called as:

  1. $25\%$ Finance
  2. $75\%$ Finance
  3. $100\%$ Finance
  4. $0\%$ Interest
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The installment scheme in which companies take $4$ or $5$ installment in advance is called as : $0\%$ Interest

For $0$ percent loans, you pay no interest. That means you're borrowing money from a bank but paying no fee for the privilege of doing so. Essentially, $0$ percent interest gives you the chance to pay the same amount of money as a cash buyer, even though you're spreading your payments over a longer term.
It is the total cost of the article paid as loan to the buyer.
The interest collect $3-5$ months installments in advance.

Multiple choice organisation of commerce and management multinational corporations global enterprises meaning and features of mncs public sector undertakings & global enterprises

Tick mark the correct answer.
M.B.O is a technique which requires that objectives of the enterprise.

  1. Be written and defined in broad terms

  2. Lay down the time period for achieving the results

  3. Induce a plan of action for achieving the desired results

  4. Be defined in terms of measurable results
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Management by Objectives (MBO) is a management model that aims to improve performance by clearly defining objectives that are agreed upon by both management and employees, specifically requiring them to be measurable.

Multiple choice commercial applications generally accepted accounting principles (gaap) distinction between accounting and book-keeping distinction between book-keeping and accounting meaning and objectives of accounting

Book keeping is necessary only for organising with profit objective.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Book keeping is the recording, on day to day basis, of the financial transactions and informations pertaining to a business. Essentially, book keeping means recording and tracking the numbers involved in the financial side of the business in a organized way. It is essential for business, but it is also useful for individuals and  non-profit organizations. 

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Which of the following is not a fixed shop large retailer?

  1. General stores

  2. Chain Stores or Multiple Shops

  3. Departmental stores

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

A general merchant store (also known as general merchandise store, general dealer or village shop) is a rural or small town store that carries a general line of merchandise.

General goods are basic items, usually needed for everyday survival, including basic drinks, food, and some basic profession or trade skill tools. Vendors for these items can be found in just about every major city or village.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The departmental store caters to the needs of relatively_________________ of people.

  1. high income group

  2. low income group

  3. Both A and B

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

A high income economy is defined by the World Bank as a country with a gross national income per capita US$12,056 or more in 2017, calculated using the Atlas method. While the term "high income" is often used interchangeably with "First World" and "developed country", the technical definitions of these terms differ.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Goods are kept on racks with clearly labelled price and quality tags in such stores. This is a feature of which of the following store?

  1. Consumer Cooperative Store

  2. Super Markets

  3. Mail Order Houses

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

A supermarket is a self-service shop offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big box market.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Major disadvantage of large shop retailers are that they lack in providing personalized service to the customers.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Disadvantages of large-scale retail businesses

  • Less ability to offer personal service

A small retailer may know all his clients personally due to constant interaction with them. He would know the tastes and preferences of his clients to be able to offer them a better personalized service, catering for their unique needs. A large retailer would not be able to do this as its aim is to sell, sell and sell. Time is money is such a large business and the more rapidly it sells, the higher the profit. Special small orders from customers are rarely accepted, especially if these do not generate enough cash to generate the required rate of return for the business. The customer may be considered nothing more than a number in a large superstore, but he would be a treasured regular customer for the small retail store.

  • Labour problems

The fact that it is constrained by time, pressure is transferred to the large retail store’s staff, which is expected to do more in less time. Most of the work is repetitive and they can hardly engage in conversations with the client or with colleagues. This leads to lower morale on the place of work and more costs of recruitment and retraining if workers regularly resign from their work.

  • Less control over pilfering

With a huge surface area full of thousands of items, it is difficult to have eyes all over the place to control pilfering. Large retailers are faced with the problem of people stealing small amounts from the shelves while no one is looking.  The temptation to steal is higher in a large shop than it is in a smaller shop where it is easier to be spotted by someone. Thieves may also think that it is less likely for larger retailers to notice occasional pilfered items due to the large quantities of material. Shoplifters are regularly convicted by large retailers than they are by the smaller ones. The business is faced with a loss-loss situation where it either invests in security or else it suffers the loss of pilferage. 


Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

By selling directly to the consumers, the multiple-shop organisation is able to eliminate unnecessary middlemen in the sale of goods and services.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

It is an approach to operating a retail business in which you offer products to customers through multiple retail channels. Brick-and-mortar stores, catalogs and the Internet are three primary multiple channels used by many retailers, but other, smaller retail formats exist as well.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Which of the limitation talks about lack of initiative under the Chain store or Multiple shops retailer?

  1. Fluctuations in demand for the merchandise may lead to loss because of large stock.

  2. The personnel managing the multiple shops have to obey the instructions received from the head office which makes them habitual for directions.

  3. The multiple shops deal only in limited range of products.

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

It is an approach to operating a retail business in which you offer products to customers through multiple retail channels. Brick and mortar stores, catalogs and the Internet are three primary multiple channels used by many retailers, but other, smaller retail formats exist as well.