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 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 trial balance develop the skill of preparing trial balance by balance method methods of preparing trial balance preparation of trial balance

Which of the following is not true for a Lease decision for the lessee?

  1. Helps in project selection

  2. Helps in project financing

  3. Helps in project location

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

Lease decisions are primarily about financing (choosing between leasing or buying). While they affect financial strategy, they do not inherently help in project selection or location, which are strategic business decisions.

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 book keeping and accountancy accounting equation meaning, objectives and need of adjustments need for adjustments accounting equations and transactions

Which of the following is not a part of inventory?

  1. Finished goods

  2. Raw material,components,consumables and supplies

  3. Spare parts of plants and machinery

  4. Work-in-progress
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Inventory typically includes assets held for sale (finished goods), in the process of production (WIP), or in the form of materials to be consumed (raw materials). Spare parts for machinery are generally classified as Property, Plant, and Equipment (PPE) or supplies, not as inventory for sale.

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.

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

Management includes ____________.

  1. administrative management

  2. operative management

  3. either (A) or (B)

  4. both (A) & (B)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Management is broadly categorized into administrative management (strategic) and operative management (execution), thus both are included.

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

Which of the following is NOT the objective of management?

  1. Not to waste the efforts of management

  2. To save the time efforts & money

  3. Management does not take care of the betterment of the society

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

Objectives of management include maximizing efficiency, not wasting efforts, saving resources, and societal betterment. Option C states management does NOT care about societal betterment, which is FALSE - therefore it is NOT an objective. This creates a logical confusion, but based on the marking, C is the answer.

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

Management can be defined as science because __________.

  1. new knowledge can always change the old established principles of management.

  2. new knowledge of science help the managers.

  3. because scientists are always making new things for the managers.

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

Management is considered a science because it involves a systematic body of knowledge, but it is a 'soft' science where principles evolve and change based on new findings and environmental shifts.

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

Which of the following is not a concept? Select correct option:

  1. Leadership

  2. Total quality management

  3. Human resource management

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

Leadership, TQM, and HRM are recognized management concepts. IQ (Intelligence Quotient) is a psychological metric, not a management concept.