Business studies class XII Quiz-4

Business studies class XII Quiz-4

Quiz

 

1. Which of the following is not an assumption of Maslow’s Need Hierarchy Theory?
   1.   A satisfied need can no longer motivate.
   2.   People’s behaviour is based on their needs.
   3.   Self-actualisation is the highest order need.
   4.   A person moves to the next higher level of the hierarchy only when lower need is satisfied.
2. Mr. Patel bought four ceiling fans from a shop. He paid ` 4,000 for it by cheque. Since he bought these for his newly constructed house, so he asked the shopkeeper to get them installed at his residence. The shopkeeper told him that he will have to pay ` 100 to the person who will come to fix them up. Next day, the electrician came and fixed the fans to the ceiling. He asked Mr. Santosh to pay him ` 400 as the charges were ` 100 per fan and not ` 100 for four fans. Which consumer right was violated by the shopkeeper?
   1.   Right to be heard
   2.   Right to seek redressal
   3.   Right to be informed
   4.   Right to consumer education
3. GarmExpo Private Limited is engaged in the business of exports of garments. In the past, the performance of the company had been upto the expectations. In line with the latest technology, the company decided to upgrade its machinery. For this, the Finance Manager, Arvind estimated the amount of funds required and the timings. This will help the company in linking the investment and the financing decision on a continuous basis. Arvind began with the preparation of a sales forecast for the next two years. He also collected the relevant data about the project estimates in the coming years. By doing this, he wanted to be sure about the availability of funds from the internal sources of the business. For the remaining funds, he is trying to find, out alternative sources from outside. Identify the financial concept discussed in the above para.
   1.   Procurement of funds
   2.   Financial planning
   3.   Allocation of funds
   4.   All of these
4. Consider the follwoing image.
   
   1.   Economic Environment
   2.   Legal Environment
   3.   Technological Environment
   4.   Political Environment
5. Shikha purchased a bottle of tomato sauce from the local grocery shop. The information provided on the bottle was not clear. She fell sick on consuming it. She filed a case in the District forum under the Consumer Protection Act and got the relief. Identify the important aspect of marketing neglected by marketer in the above para.
   1.   Pricing
   2.   Branding
   3.   Labeling
   4.   None of these
6. Burger Raja ensured the food they send out to their customers has the same high standards of excellence and level of quality in every chain or franchise. Which technique of scientific management is reflected here?
   1.   Development of each and every person to his/her greatest efficiency and prosperity
   2.   Standardisation and simplification of work
   3.   Motion study
   4.   Time study
7. The principles of management are intended to be applied to all types and sizes of organisations. This statement reflects that the principles of management are
   1.   General guidelines
   2.   Flexible
   3.   Universally applicable
   4.   Mainly behavioural
8. One of Taylor’s technique overlook the principle of ‘Unity of Command’ advocated by Fayol is:
   1.   Fatigue study
   2.   Functional foremanship
   3.   Standardisation of work
   4.   Differential piece wage system
9. Lavanya is one of the most successful managers of her company Rose Private limited. She uses her creativity and initiative in handling challenging situations at work. The knowledge gained by her during her student days at a renowned management institute as well as through her observation and experience over the years is applied by Lavanya in a skillful manner in the context of the realities of a given situation. She often reads books and other literature in various fields of management to keep her knowledge updated. An aspect of the nature of management is being highlighted in the above description. Identify the aspect.
   1.   Management is a Profession
   2.   Management is an Art
   3.   Management is a Science
   4.   None of these
10. The process of staffing includes:
    1.   Medical examination
    2.   Selection decision
    3.   Employment interview
    4.   Estimating manpower requirement
11. Element of marketing mix which aims at making the goods and services available to customers at right place, right time and in right quantity is______.
    1.   Product mix
    2.   Place mix
    3.   Price mix
    4.   Promotion mix
12. Varsha bought a box of chocolate of a reputed brand from a local shopkeeper. On opening the box, she found small piece of stone in the chocolate. She reported the matter to the shopkeeper who forwarded her complaint to the concerned company. Within a week, the representative of the company visited Varsha’s residence with an apology and as a replacement offered her a new chocolate pack with four other varieties of chocolate as compensation for the inconvenience to her. State the consumer right which Suman exercised.
    1.   Right to be heard
    2.   Right to safety
    3.   Both (a) and
    4.   Right to seek redressal
13. Nitin said that his employer provides him with all types of retirement benefits like pension plans, provident funds, etc. because of which he is not worried about his future financial security.” Which type of incentive has been referred here by Nitin?
    1.   Non-financial incentive
    2.   Financial incentive
    3.   Neither (a) nor (b)
    4.   Both (a) and (b)
14. “Harvinder said that his organisation provides a very cordial working environment where the employees can discuss their problems with each other as a result he has made many good friends there too.”Which need of Mahesh, as per Maslow’s Need Hierarchy is fulfilled here?
    1.   Affiliation need
    2.   Esteem need
    3.   Self-actualisation need
    4.   All of these
15. As a result of major government initiatives, more and more people are going ‘green’. In order to keep in line with the trend, ‘Clap away’ a carpet cleaning company has advertised that they only use natural cleaners that come from renewable resources and that all their service vehicles are hybrid vehicles that use both gas and electricity. Identify one of the points related to the importance of business environment and its understanding by a manager which is being highlighted in the above case.
    1.   It helps in assisting in planning and policy formulation.
    2.   It helps in improving performance.
    3.   It helps in coping with rapid changes.
    4.   It enables the firm to identify opportunities and getting the first mover advantage.
16. Humands Private Limited has been founded in the belief that the first sign of success of a modern nation lies in the ability of its citizen to celebrate. India’s young working population and economic growth has led to rising incomes which combined with increasing global exposure, are empowering many latent wants to morph into demands. The company believes, if the quality of goods/services is superior then the customer can easily be attracted. Therefore, the company always direct their marketing efforts towards improving the quality of product. Identify the marketing management philosophy adopted by the Humands Private Limited.
    1.   Selling concept
    2.   Production concept
    3.   Product concept
    4.   Societal marketing concept
17. Arrange the steps involved in process of controlling in correct sequence:
    (i) Comparison of actual performance with standards
    (ii) Setting performance standards
    (iii) Taking corrective action
    (iv) Measurement of actual performance
    (v) Analysing deviations
    1.   (iii), (i), (iv), (ii), (v)
    2.   (ii), (iv), (i), (v), (iii)
    3.   (ii), (v), (iv), (iii), (ii)
    4.   (ii), (i), (v), (iii), (iv)
18. Loyola AgroTech Limited has started the business of dairy products. The company is initially marketed its products in Jaipur and Pune. Due to several complaints of adulteration of the products, the company decided to pack milk in a tetra pack sealed with hologram to ensure that the product is not tampered with. Identify the type of decision taken under one of the elements of marketing mix.
    1.   Sales promotion
    2.   Advertising decision
    3.   Packaging decision
    4.   None of there
19. For the following two statements choose the correct option:
    Statement I: Demat Account is the common name of Beneficiary Owner Account.
    Statement II: PAN Number is mandatory to be provided by the investor to the broker while filling a client registration form.
    Choose the correct option from the options given below:
    1.   Both the statements are true
    2.   Both the statements are false
    3.   Statement II is true and I is false
    4.   Statement I is true and II is false
20. Taking corrective action is the______ step in the process of controlling.
    1.   Last
    2.   Continuous
    3.   First
    4.   Both (a) and (b)