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

Why do companies spend on research and development?

  1. To do business in a streamlined way

  2. It is a part of business

  3. Change is a crucial part of business

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

Research and development helps the company to know what exactly a customer needs and requires and which is the most profitable market to serve. It also informs the company about how the consumers perceive their product and collect feedback and reviews from the consumer, these feedback help the company to impove and redesign the product to design it best suitable for the target market.

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 concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

The idea of business ethics caught the attention of academics, media and business firms by the end of __________.

  1. First World War

  2. Second World War

  3. Cold war

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

The notion of ethics in business can be traced back to the earliest forms of bartering, based on the principle of equal exchange. Countless philosophers and economists have examined the topic, from Aristotle and his concept of justice to Karl Marx's attack on capitalism. But the modern concept of business ethics dates back to the rise of anti-big business protest groups in the United States in the $1970s$. The subject gradually became an academic field in its own right, with both philosophical and empirical branches. Eventually, ethics have been incorporated into businesses, reflected today in corporate social responsibility strategies and codes of conduct. Business ethics is now not only a firmly established academic field, it is something companies realize they need to manage and internalize.

Multiple choice concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

Pick the odd one. It is UNCOMMON for business to behave ethically because.

  1. It has to meet stock holder expectations

  2. It has to ignore their employees relations

  3. To build trust with shareholders

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

Ignoring employees relations are not ethical because employees are the most important resource of the company .

Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility corporate social responsibility social responsibility

A running company was selling defected machines by claiming them to be new such kind of practice is unethical is?

  1. Institutional level

  2. Government level

  3. Society level

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
  1. Taking shortcuts / shoddy work: 
  2. Lying to hide mistakes: 
  3. Badmouthing colleagues: 
  4. Passing the buck (when you don't get your work done): 
  5. Slacking off when no one is watching
  6. Lying to hide your colleagues’ mistakes: 
  7. Taking credit for other colleagues’ work: 
  8. Pulling a sickie: 
  9. Lying about skills and experience: 
  10. Taking low value items
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.

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.