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

A recent function added to marketing is?

  1. Financing

  2. Risk-taking

  3. Standardisation

  4. Marketing information
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Marketing information (or marketing research) is a modern, essential function that provides the data necessary for informed decision-making in a dynamic market.

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

The intermediaries between producer and consumer is termed as.

  1. Market segment

  2. Marketing channel

  3. Market planning

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

Intermediaries that facilitate the flow of goods between the producer and the consumer are collectively referred to as the marketing channel.

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

Match the following.

$1$. Selective distribution a) The producer appoints a single dealer for a specified area or territory
$2$. Exclusive distribution b) Two or more companies develop a joint marketing strategy to exploit new opportunities
$3$. Consignment selling c) a manufacturer selects a limited number of wholesalers and retailers to deal with his product
$4$. Symbiotic marketing d) A practice of placing goods in the hands of middlemen with the title and control remaining in the hands of the seller
  1. $1$-a, $2$-c, $3$-d, $4$-b
  2. $1$-b, $2$-c, $3$-a, $4$-d
  3. $1$-c, $2$-a, $3$-d, $4$-b
  4. $1$-c, $2$-a, $3$-b, $4$-d
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Selective distribution (c) involves a limited number of outlets; Exclusive distribution (a) involves a single dealer; Consignment selling (d) involves retaining title; Symbiotic marketing (b) involves joint strategies.

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

Selling to wholesalers is referred to as the.

  1. Modern channel

  2. Marketing channel

  3. Market segment

  4. Traditional channel
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The traditional channel of distribution typically involves a multi-level approach where producers sell to wholesalers, who then sell to retailers, and finally to consumers.

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

Marketing planning means.

  1. Laying down certain policies to guide the selling operations of a business

  2. Fixing pricing policy

  3. Fixing producing policy

  4. Looking into the future
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Marketing planning involves establishing objectives and defining the policies and strategies necessary to guide selling and marketing operations to achieve those goals.

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

Which of the following is not an operational process of marketing planning?

  1. Developing marketing action

  2. Coordinating marketing action

  3. Evaluating all marketing programmes

  4. Assessing areas of marketing opportunities
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Assessing areas of marketing opportunities is typically part of the strategic analysis or environmental scanning phase, rather than the operational process of executing and coordinating plans.

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

Tactical Marketing planning is adopted for.

  1. New product

  2. Existing product

  3. Perishable products

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

Tactical marketing planning focuses on short-term actions and adjustments to existing products or services to meet immediate market needs, whereas strategic planning focuses on long-term goals.

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

Strategic marketing planning provides.

  1. Short-run direction

  2. Medium-run direction

  3. Long-run direction

  4. Very short-run direction
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Strategic marketing planning is concerned with the long-term direction and scope of an organization, ensuring it remains competitive over time.

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

Exchange concept of marketing deals with ________.

  1. Exchange of products between sellers and buyers covering distribution and price aspects

  2. Mere appendage to production

  3. Achieving marketing success through product attributes

  4. Aggressively promote and push the products
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

An exchange process is simply when an individual or an organisation decides to satisfy a need or want by offering goods or services in exchange of some monetary value. 

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

The goals of international marketing are to_____________.

  1. create and retain customers in global markets.

  2. eliminate competition in international markets.

  3. expand business activities abroad.

  4. gain market share and increase profit
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

International marketing aims to identify, create, and retain customers in global markets by adapting products and strategies to meet the needs of diverse international consumers.

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

A market must have commodity, buyers and sellers. What else should a market have?

  1. area and bargaining

  2. bargaining and cut the rate competition

  3. communication and area

  4. communication and travel
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A market requires not only the physical or virtual space (area) for exchange but also the means of communication between buyers and sellers to facilitate the transaction.

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

_________ shows the specifics of how the entrepreneur will market or attempt to sell his product or service.

  1. A marketing plan

  2. A financing plan

  3. A sales plan

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

A marketing plan specifically details how a business intends to reach its target audience, promote its products, and execute sales strategies. Other plans, such as financing or production, focus on different operational aspects.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Franchising is the practice of using another firms _________.

  1. workers

  2. property

  3. successful business model

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

Franchising is the practice of using another firms successful business model. a franchise is a business opportunity that allows the franchisee to start business by legally using someone else's  expertise, ideas, and processes.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Which of the following is/are the Method(s) of payment in international trade ________?

  1. Cash-in-Advance

  2. Letters of Credit

  3. Documentary Collections

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

International trade utilizes various payment methods to mitigate risk, including cash-in-advance, letters of credit, and documentary collections, depending on the trust level between parties.