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 organization of commerce and management principles and techniques of management henri fayol's principles of management principles of management management of business

According to Henry Fayol, "to manage is ________, to organize to command, to coordinate and to command".

  1. To forecast

  2. To plan

  3. To budget and to control

  4. To forecast and to plan
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Fayol defined the functions of management as planning, organizing, commanding, coordinating, and controlling. His full quote emphasizes that to manage is to forecast and to plan.

Multiple choice organization of commerce and management principles and techniques of management henri fayol's principles of management principles of management management of business

Fayol's functions of management include:

  1. Planning, designating, completing, cooperating

  2. Punishing, commanding, organising, coordinating, controlling

  3. Preparing, commanding, operating, consulting, controlling

  4. Planning, commanding, organising, coordinating, controlling
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Fayol's five elements of management are planning, organizing, commanding, coordinating, and controlling.

Multiple choice organization of commerce and management principles and techniques of management henri fayol's principles of management principles of management management of business

Fayol believed that every department of the organisation should be working on the same plan to achieve the organisation's objectives. He expressed this in which principle of management?

  1. Centralisation

  2. Unity of direction

  3. Authority

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

Unity of direction ensures that all departments work toward the same plan and objectives, preventing fragmented efforts.

Multiple choice organization of commerce and management principles and techniques of management henri fayol's principles of management principles of management management of business

As per Fayol a manager should have _________ qualities.

  1. Education

  2. Knowledge

  3. Experience

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

Fayol argued that effective managers need a combination of education (theoretical knowledge), knowledge (technical and general), experience (practical application), and personal qualities like leadership and judgment.

Multiple choice organization of commerce and management principles and techniques of management henri fayol's principles of management principles of management management of business

Which of the following is not one of the five elements of management?

  1. Planning

  2. Co-ordination

  3. Centralization

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

Fayol's five elements of management are planning, organizing, commanding, coordinating, and controlling. Centralization is a principle of management, not one of the five elements.

Multiple choice organization of commerce and management principles and techniques of management henri fayol's principles of management principles of management management of business

According to Henry Fayol,"to manage is ______, to organise to command, to coordinate and to command".

  1. to forecast

  2. to plan

  3. to budget to control

  4. to forecast and to plan
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Henry Fayol defined management through five elements: planning (or forecasting and planning), organizing, commanding, coordinating, and controlling. The quote specifically highlights the foundational role of forecasting and planning.

Multiple choice organization of commerce and management principles and techniques of management henri fayol's principles of management principles of management management of business

Who distinguished between 'principles' and 'elements' of management?

  1. Fredrick Taylor

  2. Newmann and Summer

  3. Henri Fayol

  4. Henry Lawrence Gantt
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Henri Fayol distinguished between the principles of management (the 14 rules) and the elements of management (the functions like planning, organizing, etc.).

Multiple choice organisation of commerce and management laws of returns - returns to a factor and returns to scale definition and functions of production department production or works department ideologies/concepts/views of marketing management

______ involves application of planning, organizing, directing and controlling the production process.

  1. Purchases Management

  2. Human Resource Management

  3. Corporate Management

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

Production management specifically focuses on the transformation process, which includes planning, organizing, directing, and controlling the resources involved in manufacturing or service delivery.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

In modern world, production management has to perform a variety of functions. Identify them.

  1. Design and development of production process.

  2. Production planning and control.

  3. Implementation of the plan and related activities to produce the desired output.

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

Modern production management encompasses the entire lifecycle of production, including design, planning, control, and implementation to ensure desired output is achieved efficiently.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

Statement containing details of items to be considered in a meeting is called ______________.

  1. Agenda

  2. Minutes

  3. Resolution

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

An agenda is a list of items to be discussed during a meeting. Minutes are the record of what happened, and a resolution is a formal decision made.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

Which of the following is not an administrative function?

  1. Administration of the department's human resource functions.

  2. Methods to create more effective plans.

  3. Conducting Board Meetings as required under Companies Act.

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

Conducting Board Meetings as required under the Companies Act is a statutory or legal compliance requirement, not an administrative function in the context of departmental management.

Multiple choice business organisation functions and qualities of a manager leadership in decision-making meaning, definition and characteristics of leadership intro & meaning & importance & principles of directing

Which of the following best expresses the difference between programmed and non-programmed decisions?

  1. Made by managers who prefer a thinking or technocratic style; made by managers who use judgement and follow intuition

  2. Have computer routines developed for them; are not computerized

  3. Handled with decision rules; decision rules cannot be developed

  4. Occur under certainly or risk; occur under uncertainty or ambiguity
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Programmed decisions are repetitive and routine, handled by established decision rules (policies/procedures), whereas non-programmed decisions are unique and require judgment.

Multiple choice business organisation functions and qualities of a manager leadership in decision-making meaning, definition and characteristics of leadership intro & meaning & importance & principles of directing

Which of the following is not example of group decision making?

  1. Decision of board meetings

  2. Decision of staff meetings

  3. Decision of managing director

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

A decision made by a single individual, such as a managing director, is an individual decision, not a group decision.

Multiple choice business organisation functions and qualities of a manager leadership in decision-making meaning, definition and characteristics of leadership intro & meaning & importance & principles of directing

___________ is concerned with the persons, or organizational groups making the decision, or with the analysis of the decision making process.

  1. Empirical Approach

  2. Group Behaviour Approach

  3. Interpersonal Behaviour Approach

  4. Decision Theory Approach
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Decision Theory Approach focuses on the decision-making process itself and the individuals or groups involved in making those decisions.

Multiple choice business organisation functions and qualities of a manager leadership in decision-making meaning, definition and characteristics of leadership intro & meaning & importance & principles of directing

To many, the word management suggests __________.

  1. dynamism

  2. risk-taking

  3. efficiency

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

Management is traditionally associated with maintaining order, consistency, and efficiency, whereas leadership is often associated with change and dynamism.