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This set of Business Management Multiple Choice Questions & Answers (MCQs) focuses on Business Management Set 14

Q1 | How an executive interprets facts and events in accordance with beliefs and assumptions is best described by his
  • Administrative acuman
  • Managerial philosphy
  • Executive profile
  • Leadership style
  • None of the above
Q2 | The shareholders have limited liability in case of a
  • cooperative
  • partnership firm
  • public limited company
  • All of the above
  • Rs. 17,50,500
Q3 | The term 'balance of trade' is associated with
  • imports and exports
  • taxation
  • gross profits of a company
  • budgeting
  • Rs. 17,50,500
Q4 | Motion study is not used for
  • Improving a work method by locating deficiencies
  • Improving a work method by assisting in adjusting the pattern of inter-relationships
  • Designing a work method through logical analysis and synthesis
  • Providing a schematic framework for organizing knowledge about the inter-relationships
  • Reducing inventory costs
Q5 | Process planning consists of
  • specifying product details
  • specifying quality standards
  • specifying details of work
  • none of the above
  • None of the above
Q6 | A bonus plan in which allowance is determined in terms of time for each unit of output instead of money is
  • hour-for-hour plan
  • group plan
  • Beedaux plan
  • none of the above
  • None of the above
Q7 | Public goods are different from private goods because
  • The government produces public goods, while private goods are produced by private persons
  • Public goods are preferred to private goods
  • The amount consumed by one does not affect the amount available for others
  • Private goods can be consumed only by private individuals while public goods can be consumed by government and private citizens
  • All of the above
Q8 | M.T.M. helps in
  • Establishing time standards
  • Estimating cost
  • Improving existing methods
  • Developing methods before the starting of production
  • All of the above
Q9 | Job enrichment means
  • Paying more for entry level jobs
  • providing further training in job skills
  • adding more tasks at the same level
  • adding some planning and control to a job
  • None of the above
Q10 | Barter system can work successfully when
  • people are fully educated
  • society is developed
  • wants are limited
  • demand is equal to supply
  • Rs. 17,50,500
Q11 | Standing orders act provides for penalties for
  • Failure of an employer to submit the draft standing orders for certification
  • Modifications of standing orders not in accordance with the prescribed procedure
  • Doing any act in contravention of the certified above
  • (A) and (B) above
  • (A), (B) and (C) above
Q12 | Safety guards on machines should be
  • always in position
  • Put in position while using machine
  • Used if operator desires
  • Never used
  • Used if time permits
Q13 | Statistics show that the vast majority of all accidents result from
  • Technical causes
  • Human causes
  • Environmental causes
  • A combination of human, technical and environmental causes
  • None of the above
Q14 | The best source of revenue for States in India is
  • Sales tax
  • Customs duty
  • Income from lotteries
  • Excise duty
  • Entertainment tax
Q15 | The price of diamonds is higher than the price of wheat because
  • Diamonds are much heavier than wheat
  • Diamonds are more useful than wheat
  • The total stock of diamonds is more useful than the total stock of wheat
  • Diamonds cannot be grown whereas wheat can be grown
  • Enough people have a higher subjective value of diamonds relative to wheat
Q16 | Which of the following is not a factor management which must weight when deciding to establish particular kind of employee benefit
  • Cost
  • Need
  • Productivity
  • Union power
  • Ability to pay
Q17 | Planning and control departments normally do not consist of
  • Planning cell
  • Control cell
  • Inventory section
  • Printing section
  • Quality section
Q18 | The disadvantage of process layout system is
  • The initial investment is high
  • Machine failures and job difficulties seriously disrupt production schedules
  • The scope of production facilities is limited
  • Production time is longer, requiring more goods in process
  • High initial investment is required
Q19 | If the electric supply is not available in a factory the workers will show it as
  • Delay
  • Deliberate delay
  • Avoidable delay
  • Unavoidable delay
  • None of the above
Q20 | A process layout is generally suggested for
  • Jobbing work
  • Batch production
  • Continuous type of production
  • Efficient machine utilization ratio
  • None of the above
Q21 | Indian Railways are a
  • joint sector undertaking
  • public sector undertaking
  • departmental operation
  • private sector undertaking
  • Rs. 17,50,500
Q22 | The financial position of a company is considered to be sound if
  • Sufficient funds are available under reserve and surplus
  • Company has declared good dividends in the past
  • Sales are increasing
  • Gross profit is reasonable
  • The company has no loans outstanding
Q23 | The sign of a country's development is
  • More and more industries
  • Higher standard of living
  • Higher per capita income
  • More means of transport
  • All of the above
Q24 | Which one is not a component of process?
  • Operation
  • Inspection
  • Storage
  • Disassemble
  • Quality section
Q25 | Capital expenditure means
  • Expenses incurred in capital
  • Main expenditure
  • Recurring expenditure
  • Expenditure on procurement of fixed assets
  • None of the above