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 organisation of commerce and management leadership leadership theories directing commerce

According to which of the following management approaches, does managerial practice depend on circumstances?

  1. Systems Approach

  2. Contingency Approach

  3. Empirical Approach

  4. Human Relations Approach
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

According contingency management approaches, does managerial practice depend on circumstances. The contingency approach of management can be defined as the style of management which states that there is no one universally applicable set of management principles to organization as management practices depends on situations. It is also known as situational approach of management.

Multiple choice organisation of commerce and management leadership leadership theories directing commerce

The Managerial Grid, propounded by Blake and Mouton, is based on a manager's concern for people and concern for production. The most effective management style as characterized by the Managerial Grid is ______________.

  1. High concern for people and low concern for production

  2. High concern for people and high concern for production

  3. Low concern for people and high concern for production

  4. Low concern for people and low concern for production
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Managerial Grid, propounded by Blake and Mouton, is based on a manager's concern for people and concern for production. The most effective management style as characterized by the Managerial Grid is high concern for people and high concern for production. This model is regarded as a leadership model. The model originally identified five different leadership styles based on the concern for people and concern for production.

Multiple choice

The three types of Control are Feedforward, __________ & Feedback

  1. Management

  2. Simultaneous

  3. Concurrent

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

The three primary types of control based on timing are feedforward control (before the activity begins), concurrent control (while the activity is in progress), and feedback control (after the activity is completed).

Multiple choice

The two main types of Decision Making are ___________ & _____________ decisons.

  1. Programmed, impulsive

  2. Programmed , Non-Programmed

  3. Impulse, Non-programmed

  4. Intuitive, Impulsive

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In management theory, decisions are broadly classified into programmed decisions (repetitive and routine decisions handled by a systematic procedure) and non-programmed decisions (novel, unstructured, and unique decisions).

Multiple choice

Whats the purpose of market research

  1. To reduce risks

  2. To advertise you product
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The primary purpose of conducting market research is to gather information that helps businesses make informed decisions, thereby reducing the risks associated with launching new products or entering new markets.

Multiple choice

Choose the best definition for issue

  1. income

  2. goal

  3. growth or change

  4. topic or problem
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An "issue" is an important subject, topic, or problem that people talk about or try to solve. This matches the definition "topic or problem." Other options, like "income" or "goal," refer to different concepts entirely.

Multiple choice

Choose the best definition for administration

  1. who/what runs a system

  2. owner

  3. set of work

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

The word 'administration' refers to the management or running of a business, organization, or system. While an 'owner' might be involved, the administration specifically represents the entity or process that runs the system.

Multiple choice

Which is NOT a cause of an assembly line?

  1. Cheaper prices

  2. More product

  3. Less Product

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

Assembly lines are designed to increase efficiency, leading to quicker production, more products, and lower costs for consumers. Therefore, producing less product is the opposite of what an assembly line achieves.

Multiple choice

A set of beliefs and ambitions which are typical of a group or company

  1. Vission

  2. Ethos

  3. Goals

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

"Ethos" refers to the guiding beliefs, character, or disposition of a community, group, or organization. While "vision" (misspelled as "vission" in the options) and "goals" represent future targets, "ethos" describes the underlying spirit and values that characterize them.

Multiple choice

A document giving details of a company's expected sales, costs and future financial planning

  1. Business plan

  2. Block booking

  3. Bookkeeping

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

A business plan is a formal document outlining a company's goals, target market, and financial forecasts, including expected sales and costs. A balance sheet (misspelled as balance shet) shows a company's assets, liabilities, and equity at a specific point in time, rather than future planning.