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 business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

The skill that is not required by low level management is ____________.

  1. Human relation skill

  2. Technical skill

  3. Administrative skill

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

Low-level (supervisory) management primarily requires technical and human skills to oversee daily operations. Administrative skills are typically associated with top-level management.

Multiple choice business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

According to whom" to manage is to forecast, and to plan, to organize to command, to coordinate and to command"? 

  1. Haimann

  2. Koontz and O'Donnell

  3. Hick

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

This is Henri Fayol's famous definition of management from his administrative theory. While the option text shows 'to command' twice, this is clearly a transcription error - the original quote lists five functions: to forecast, to plan, to organize, to command, to coordinate, and to control.

Multiple choice business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

Management might plan ________________.

  1. For a short period

  2. For a long-run

  3. For a short period and also for long-run

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

Management might plan- for a short period and also for long period. The time period depends on the organizational objectives. Management helps to achieve group goals. It also helps to use available resources at an optimum level.

Multiple choice business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

which of the following consists in knowing the extent to which actions are in conformity with plans adopted and instructions issued so that errors and deviations are promptly reported and analyzed, and suitable corrective actions taken?

  1. Forecasting

  2. Planning

  3. Controlling

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

Controlling consists in knowing the extent to which actions are in conformity with plans adopted and instructions issued so that errors and deviations are promptly reported and analyzed, and suitable corrective actions taken.Controlling function of management can be defined as process of comparison between actual output and planned output to find out the reasons for derivation and taking corrective measures to stop such derivations in future. It helps to achieve organizational goal.

Multiple choice business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

Maintaining discipline and rewarding effective performance is part of _______ function of management. 

  1. Planning

  2. Directing

  3. Forecasting

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

Maintaining discipline and rewarding effective performance is part of directing function of management. Directing function of management is concerned with instructing, guiding, inspiring and motivating the employees in the organization so that their efforts result in achievement of organizational goal. Directing function also help them to get motivated to perform more efficiently.

Multiple choice business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

Control _________________________________________.

  1. is closely related to the planning job of the manager.

  2. should not be viewed merely as a postmortem of past achievements and performance.

  3. should suggest corrective measures so that negative deviations may not re-occur in future.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Control :-
a) is closely related to the planning job of the manager. 
b) should not be viewed merely as a postmortem of past achievements and performance.
c) should suggest corrective measures so that negative deviations may not re-occur in future.
Controlling function of management can be defined as process of comparison between actual output and planned output to find out the reasons for derivation and taking corrective measures to stop such derivations in future. It helps to achieve organizational goal.
Multiple choice business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

Planning and controlling are closely linked to each other.

  1. False

  2. Partly true

  3. True

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

Planning and controlling are closely linked to each other- this is a true statement. The base for comparison or the yardstick to check is given by planning to controlling function. The controlling function of management makes sure that everyone follows the plan strictly.

Multiple choice business organisation management - process or functions, managerial role and levels functional areas of management levels and functions of management management functions

Importance of management.

  1. It enables the organization to survive in changing environment

  2. It improves standard of living and increases the profit which is beneficial to business and society

  3. Management fills up various positions with right persons, having right skills, training and qualification

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Importance of management :-a) It enables the organization to survive in changing environment
b) It improves standard of living and increases the profit which is beneficial to business and society.
c) Management fills up various positions with right persons, having right skill, training and qualification.Management can be defined as a process of getting things done with the aim of achieving goals effectively and efficiently. In absence of management no organization can run successfully.
Multiple choice

A set of beliefs and ambitions which are typical of a group or company

  1. Vission

  2. Ethos

  3. Goals

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

Ethos refers to the characteristic values, beliefs, and guiding spirit that define a group, organization, or company. It represents the fundamental character and culture of a collective. Vision is about future goals, and goals are objectives, not the culture itself.

Multiple choice geography hazards hazards and types of hazards introduction to disaster natural disasters and hazards

What are the three phases of disaster management planning? 

  1. Preparation, Planning and Perception

  2. Preparation, Response and Recovery

  3. Planning, Evacuating and Recovery

  4. Evacuating, Rebuilding and Re-branding
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Disaster management planning is generally categorized into three main phases: preparation (before), response (during), and recovery (after).

Multiple choice commercial applications concept of market and marketer meaning, types, stages and role of marketing meaning and definition of marketer role of marketing

For any organization, operating in the global market environment in the 21st century requires various types of management competences. Which of the following is not one of the competences required?

  1. Analytic competence in assessing opportunities and selecting markets for entry.

  2. Strategic competence to ensure successful market entry and ongoing making management.

  3. Leadership competence to enforce regular downsizing and de-layering to maintain a high level of efficiency.

  4. Operational competence to manage and coordinate the global marketing effort.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Leadership competence in global marketing focuses on vision, cross-cultural management, and strategic alignment, not merely on enforcing downsizing or de-layering, which are specific administrative tasks.

Multiple choice elements of accounts accounts from incomplete records stakeholders and their information requirements ascertainment of profit and loss calculation of profit or loss under single entry system of accounting and statement of affairs accounts from incomplete records - single entry system

The objective of financial management is to ___________.

  1. generate the maximum net profit

  2. generate the maximum retained earnings

  3. generate the maximum wealth for its shareholders

  4. generate maximum funds for the firm at the least cost.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The primary objective of financial management in a corporate context is to maximize the wealth of shareholders, which is reflected in the market price of the company's shares.

Multiple choice political science local self-government-urban local self - government - urban local self government - urban local self government- urban

Which are the two types of functions of the Municipal Corporation?

  1. Mandatory and Executive

  2. Obligatory and Executive

  3. Obligatory and Discretionary

  4. Discretionary and Executive
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The functions of Municipal Corporation are of two types. (1) Obligatory and Discretionary. The obligatory function includes this function which must be performed by the Corporation the discretionary functions are those which are not compulsory but may be taken up depending upon its final resources. Obligatory functions include the supply of water and maintenance of waterworks, the supply of electricity, maintenance of roads. etc. Discretionary functions include construction of Public Houses, registration of marriages, construction of public parks and gardens.etc.