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
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Min-Max Planning
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Re-order point planning
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Kanban Planning
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None of the above
C
Correct answer
Explanation
In Oracle Inventory, pull sequences define the source and replenishment chain for kanban locations, while generating and printing cards are standard kanban execution tasks. Min-Max and Re-order point planning do not use these kanban-specific steps, making Kanban Planning correct.
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Compliance
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Dispensation
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Monitoring and Reporting
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Budgetary Control
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Business Control
D
Correct answer
Explanation
Key architecture governance processes are Compliance (A), Dispensation (B), Monitoring and Reporting (C), and Business Control (E). Budgetary Control (D) is a financial management process, not an architecture governance process. Architecture governance focuses on technical and business alignment, not budget allocation.
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True
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False
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Both a & b
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None of the above
A
Correct answer
Explanation
Architecture principles serve as the foundation for decision-making (True) by providing rules and guidelines that dictate how an organization fulfills its mission through technology. They're not standalone documents - they actively guide choices. The statement correctly captures both the decision-making basis and mission-alignment functions of principles.
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Reduction of Costs
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Consolidation of services
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Ability to handle change
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A goal to have minimum of interim solutions
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All of the above
E
Correct answer
Explanation
All these are key business drivers that can influence implementation sequencing. Cost reduction often drives prioritization of quick-win projects, service consolidation dictates a specific sequence, ability to handle change affects implementation approach, and minimizing interim solutions influences project phasing. When multiple business drivers are present, they collectively shape the implementation roadmap.
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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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True
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False
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None
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Don't Know
B
Correct answer
Explanation
The Product Owner's presence is mandatory in Sprint planning because they clarify requirements, answer questions, and help the team understand what 'done' means for each item. Without the Product Owner, the team cannot make informed commitments about what they can deliver.
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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
B
Correct answer
Explanation
Management by exception is a policy where management focuses its attention only on areas that significantly deviate from expected results or require intervention, leaving routine operations to lower levels.