Commerce Accountancy
Business and Project Management
1,146 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
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accepted accounting practices
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marketing strategies
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procurement policies
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architecture principles
D
Correct answer
Explanation
Architecture governance is fundamentally guided by architecture principles. These principles provide the foundation for decision-making, ensuring consistency across architectural choices. While accounting practices, marketing strategies, and procurement policies are important organizational considerations, they do not guide architectural governance directly.
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Business goals, Objectives, Organization structure and functions
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Business goals, Objectives, Architecture principles
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Business goals, Objectives, Strategic drivers
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None of the above
A
Correct answer
Explanation
Business Architecture requires a comprehensive description of the business including its goals and objectives (where it's going), organization structure (how it's organized), and functions (what it does). Option B misses organizational structure and functions. Option C misses organization and functions. Option A provides the most complete picture.
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Migration Plan
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Master plan
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Maintenance plan
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Mitigation Plan
D
Correct answer
Explanation
A Mitigation Plan (option D) is a strategy to reduce or eliminate the impact of identified risks. A Migration Plan focuses on data/system transitions. A Master plan is an overarching strategy. A Maintenance plan deals with ongoing system support.
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Tool Quality Management
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Test Quality Manager
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Total Quality Management
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Total Quality Manager
C
Correct answer
Explanation
TQM stands for Total Quality Management (option C), a comprehensive management approach focused on continuous improvement of processes, products, and services. It's not about tools or individual managers but an organizational philosophy.
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Contingency planning
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Change control management
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Business continuity planning
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System update management
B
Correct answer
Explanation
Patch management is formally governed by change control management because updates modify the production environment and must be planned, tested, and authorized. Contingency and business continuity planning focus on disaster recovery, while system update management is a task, not the parent framework.
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Functional Manager
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Senior Management
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The owner
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The user
C
Correct answer
Explanation
The information owner has primary responsibility for determining classification because they understand the business context and sensitivity of the data. Functional managers and senior management set overall policies but don't classify individual items, while users consume information based on its assigned level.
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Koontz and O'Donnel
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Henry Fayol
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F.W. Taylor
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Peter F. Drucker
B
Correct answer
Explanation
This is Henri Fayol's famous definition of management from his book 'General and Industrial Management' (1916). Fayol identified five functions of management: planning (forecast and plan), organizing, commanding (leading), coordinating, and controlling. This became one of the foundational frameworks of classical management theory.
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planning
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coordinating
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organising
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motivating
A
Correct answer
Explanation
Policy formulation is a core component of the planning function in management. Policies establish guidelines for decision-making and help organizational members align their actions with organizational goals. Planning precedes other functions like coordinating, organizing, and motivating.
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Planning and organisation
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Staffing and control
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Planning and control
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Planning and staffing
B
Correct answer
Explanation
Staffing involves placing the right people in the right positions, while control requires measuring performance and taking corrective action. Control depends on having properly staffed positions to execute plans effectively. While planning and control are also related, staffing and control have a more direct dependency since you can't control performance without qualified personnel.
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MBO
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Management by exception
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Unity of command
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Critical path method
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The rules governing the working of the council are being clearly laid.
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The rules governing the working of the council are clearly laid down.
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The rules governing the working of the council are laid clearly.
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The rules governing the working of the council have been laid clearly.
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The rules governing the working of the council are clearly laid.
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Surveying the area
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Mapping of the area
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Qualitative and quantitative estimation of resources
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Institutional set up for implementing resource development plans
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All of the above
D
Correct answer
Explanation
This is the correct answer. An institutional set up is organised at the time we evolve a plan for developing the available resources.
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control
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norm
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management
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business
C
Correct answer
Explanation
The word 'management' has its origin in the Greek word ‘nomos’, which means ‘management’.
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staffing
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coordination
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reporting
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budgeting
B
Correct answer
Explanation
Since coordination is all pervasive and permeates through every function of management, it is considered as the overall function or the essence of management.
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implementation
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controlling
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payments
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approval process
B
Correct answer
Explanation
Administration is a part of controlling.