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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