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

Planning is the

  1. first stage of establishing organisational goals only

  2. establishing firm's goals and deciding how to accomplish them

  3. establishing firm's basic purpose which makes it different

  4. establishing firm's basic purpose which makes it successful
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Planning is the foundational management function of defining goals and determining the best course of action to achieve them. It provides the roadmap for the organization.

Multiple choice

Basic 'Management Functions' are

  1. planning, organising, leading and motivating

  2. planning, sharing, motivating and controlling

  3. planning, organising, leading plus motivating and controlling

  4. planning, sharing, leading plus motivating and controlling
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The standard management functions are planning, organizing, leading, motivating, and controlling. Option C correctly lists these components.

Multiple choice

Business resources are

  1. material, human, financial and building resources

  2. material, human, financial and information resources

  3. material, capital, financial and Information resources

  4. raw material, human, financial and information resources
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Business resources are generally categorized into four types: material, human, financial, and information. These are the inputs required to produce goods or services.

Multiple choice

'Management' is the process of coordinating people and

  1. other resources to achieve the goals of an organisation

  2. managers to achieve the goals of an organisation

  3. human resources to achieve the goals of an organisation

  4. financial resources to achieve the goals of an organisation
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Management is defined as the process of coordinating people and other resources (material, financial, and information) to achieve organizational goals efficiently and effectively.

Multiple choice

Definition business plan

  1. Written document defining company's objectives

  2. Document describing how a company will achieve its goals

  3. Written roadmap from marketing, financial, operational POV

  4. Oral agreement between shareholders defining company's objectives
Reveal answer Fill a bubble to check yourself
A,B,C Correct answer
Multiple choice

Definition organisation

  1. Articulation of the different functions

  2. Goal is to optimize physical goods/ information flows

  3. Evolves depending on different factors

  4. Stays the same to keep the company's identity
Reveal answer Fill a bubble to check yourself
A,B,C Correct answer
Multiple choice

When contingency planning an ICT system at highest level, chosen solution should provide for

  1. minimal disruption for customers

  2. minimal disruption for office staff

  3. recovery of all financial data

  4. full business continuity
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Contingency planning at the highest level aims for business continuity, ensuring that the entire organization can continue to function despite a system failure. Other options are specific subsets of a broader continuity plan.

Multiple choice

Change control should be an integral part of any IT system alterations to

  1. ensure that all staff are consulted

  2. ensure that work is planned in a structured way

  3. facilitate disruption to existing practices

  4. maximise the benefits of IT upgrades
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Change control provides a structured framework for planning, testing, and implementing changes, which minimizes risks and ensures that alterations are managed systematically.

Multiple choice

Taking responsibility for the results achieved

  1. Unit of command

  2. Span of control

  3. Authority

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

Accountability is the obligation of an individual to report on their activities and take responsibility for the results achieved.

Multiple choice

Guidelines used in making consistent decisions

  1. Management

  2. Mission statement

  3. Policies

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

Policies are general guidelines established by management to ensure that decisions are made consistently across the organization.