Business Management Set 14 MCQs

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