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

Certainly, risk and uncertainty are the three possible conditions of _______________.

  1. risk management

  2. decision making

  3. planning

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Decision making includes taking correct course of actions which help in getting desired results and choosing of the best alternatives. The three possible conditions of decision making includes certainty, uncertainty and risks which influence the extend of decision making.

Multiple choice functional area of management financial management nature and significance of management organisation of commerce and management business studies

_____is nothing but management of limited financial resources the organization has, to its utmost advantage.

  1. Material management

  2. Cash management

  3. Customer management

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

Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise.

Investment decisions includes investment in fixed assets (called as capital budgeting). Investment in current assets are also a part of investment decisions called as working capital decisions.
Financial decisions - They relate to the raising of finance from various resources which will depend upon decision on type of source, period of financing, cost of financing and the returns thereby.
Dividend decision - The finance manager has to take decision with regards to the net profit distribution. Net profits are generally divided into two:
Dividend for shareholders- Dividend and the rate of it has to be decided.
Retained profits- Amount of retained profits has to be finalized which will depend upon expansion and diversification plans of the enterprise.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

MIS is viewed and used by which of the following levels by management?

  1. Operational, Tactical, Static

  2. Operational, Factual, Strategic

  3. Operational, Tactical, Strategic

  4. Operational, Tactical, Sequencial
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

MIS is supportive of the institution's long-term strategic goals and objectives. MIS is viewed and used at many levels by management: Operational, Tactical and Strategic.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

The __________ is processed and organised to create information that is relevant and can be used for decision-making.

  1. data

  2. connectivity

  3. procedures

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

Data is the raw input that, when processed and organized, becomes information useful for decision-making.

Multiple choice economics sustainable development with equity liberalisation objectives of economic planning in india need for sustainable development introduction to social movements and its types social movements

ISO 14000 deals with quality standard for _________________.

  1. Environmental Management

  2. Technology Management

  3. Knowledge Management

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

ISO 14000 is a series of environmental management standards developed and published by the International Organisation for Standardisation ( ISO ) for organisations.
The ISO 14000 standards provide a guideline or framework for organisations that need to systematise and improve their environmental management efforts.

Multiple choice economics sustainable development with equity liberalisation objectives of economic planning in india need for sustainable development introduction to social movements and its types social movements

Environment Scanning is careful monitoring of an organization's _______ environments for detecting early signs of opportunities and threats that may influence its current and future plans. 

  1. internal and social

  2. external and business

  3. internal and external

  4. internal and business
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Environmental scanning involves analyzing both internal factors (strengths/weaknesses) and external factors (opportunities/threats) to inform strategic planning.

Multiple choice economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

'Programme Planning' means ___________.

  1. Giving a thrust to social welfare schemes

  2. Improving the conditions of the masses

  3. Setting objectives to complete various programmes

  4. Completing on-going projects
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Programme Planning is a process in which the decision is made about the direction and also the intensity of the development of education efforts. The purpose is to bring about the desirable changes among people and the community as a whole. It includes the setting of objectives for completion of various programmes.

Thus, the correct answer is C.

Multiple choice organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

______ refers to the process of eliminating unnecessary controls and restrictions on the smooth functioning of business enterprises.

  1. Globalization

  2. Privatization

  3. Liberalization

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

Liberalization refers to end of licence, quota and many more restrictions and control that were put on many industries. The term basically refers to opening of the economy to the world and providing freedom to the departmental and public sector undertakings to access capital market in order to achieve international competitiveness. 

Multiple choice elements of book keeping and accountancy methods of valuation of closing stock adjustment for closing stock only closing stock meaning, kinds and important terms relating to stock

Activities related to coordinating, controlling and planning flow of inventory are classified as ________________.

  1. decisional management

  2. throughput management

  3. inventory management

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

Inventory management is the systematic approach to sourcing, storing, and selling inventory, which includes planning, controlling, and coordinating the flow of goods.

Multiple choice elements of book keeping and accountancy methods of valuation of closing stock adjustment for closing stock only closing stock meaning, kinds and important terms relating to stock

The success of perpetual inventory system depends upon ______________.

  1. Placing order for materials at regular intervals

  2. Exercising control over the issue of materials

  3. Recording the receipt and issue of materials immediately after each transaction

  4. Recording the receipt of materials by storekeeper in the 'Bin Cards'
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The perpetual inventory system requires continuous recording of all receipts and issues of materials to maintain an up-to-date balance of inventory at all times.

Multiple choice commercial applications generally accepted accounting principles (gaap) acccounting cycle meaning, need and objectives of accounting accounting process

The final step in deliberations before acting is termed as ____________.

  1. Planning

  2. Controlling

  3. Decision making

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

Decision-making is regarded as the cognitive process resulting in the selection. Every decision-making process produces a final choice, which may or may not that are elicited during the deliberation of future consequences and that mark. This stage takes place prior to and during a moral dilemma.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Business managers also need statistics for planning as _______________.

  1. decisions can not be made on trial basis

  2. systematically organized data help in developing decision policies

  3. both A & B

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

Statistics carries out analysis of past data, which allows a trend line to be constructed, and thus the company has a higher chance of success as data regarding past performance is available. The data that is collated has to be accurate and systematically organized to help in the formation of developing decision policies. 

Multiple choice business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

"Management is the function of getting things done through people and directing the efforts of individuals towards a common objective". It was observed by ________.

  1. Haimann

  2. Kootz and O'Donnell

  3. Hick

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

Theo Haimann is widely credited with the definition of management as the function of getting things done through people and directing their efforts toward a common objective.