Business studies class XII Quiz-5

Business studies class XII Quiz-5

Quiz

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1. On the introduction of ‘Goods and Services Tax Act’, experts in the field of business started analysing and forecasting its impact on various sectors and industries. Vishal, an established businessman, attended a few seminars and conferences organized by such experts to familiarize himself with this information. He wanted to use these forecasts to reduce the uncertainty in making decisions for the future in his business. Name the step in the planning process that is being discussed in the above paragraph.
   1.   Follow up action
   2.   Developing premises
   3.   Setting objectives
   4.   Selection of alternative
2. Ganesh bought a packet of chips from a local shopkeeper and found that the ingredients given on the label were not legible. He complained about it to the company. The company sent a written apology stating that they will make sure that existing packets are withdrawn from the market and new packets with legible labels are soon made available. Which consumer right is being exercised by Ganesh?
   1.   Right to safety
   2.   Right to choose
   3.   Right to be heard
   4.   None of these
3. _______is the process of converting a message into communication symbols such as words, pictures, gestures etc. by the sender for transmission.
   1.   Decoding
   2.   Encoding
   3.   Media
   4.   Receiver
4. The forces relating to scientific improvements and innovations which provide new ways, methods and techniques of producing goods and services and operating a business is:
   1.   Internal environment
   2.   Social environment
   3.   Micro environment
   4.   Technological environment
5. Rashmi saw ‘Buy one get one free’ printed on the label of the package of a mosquito repellant. The function which labelling is performing here is:
   1.   Promotes the product
   2.   Describes the product and specifies its content
   3.   Gives information to consumer
   4.   All of these
6. GVS Garment Company suspected that their two employees were robbing it. It hired investigators who advised the firm to install a software program that could secretly log every single stroke of the suspects computer keys and send an encrypted e-mail report back to them. Investigators revealed that the two employees were deleting orders from the corporate books after processing them and pocketing the revenues. The programme picked up on their plans to steal a large shipment of goods late one night. When the suspects entered, they were arrested and charged with embezzlement. State the importance of the function of ‘Controlling’ highlighted in the above case.
   1.   Controlling judges accuracy of standards.
   2.   Controlling ensures order and discipline.
   3.   Controlling accomplishes organisational goals.
   4.   Controlling improves employees’ morale.
7. The term marketing refers to _______
   1.   Advertising, Sales Promotion, Publicity and Public Relational activities
   2.   A new product needs ideas, Developments, concepts and improvements.
   3.   Sales Planning, Strategy and Implementation
   4.   A philosophy that stresses customer value and satisfaction.
8. The requirement of working capital will be more for a business concern manufacturing:
   1.   Coolers
   2.   Bread
   3.   Neither (a) nor (b)
   4.   Both (a) and (b)
9. For the following two statements choose the correct option:
   Statement I: Accountability can be delegated.
   Statement II: Responsibility can be delegated completely.
   Choose the correct option from the options given below:
   1.   Both the statements are false
   2.   Statement II is true and I is false
   3.   Both the statements are true
   4.   Statement I is true and II is false
10. _____is a factor affecting the capital structure of a company.
    1.   Control consideration
    2.   Cash flow position
    3.   Flexibility
    4.   All of these
11. Identify the responsibility of consumers being highlighted in the picture given below.
    
    1.   Ask for a cash memo on purchase of goods or services.
    2.   Be aware about various goods and services available in the market so that an intelligent
       and wise choice can be made.
    3.   Learn about the risks associated with products and services, follow manufacturer’s
       instructions and use the products safely.
    4.   Buy only standardised goods as they provide quality assurance. Thus, look for ISI mark
       on electrical goods, FPO mark on food products, Hallmark on jewellery, etc.
12. Arrange the following steps in the process of controlling in the correct sequence:
    (i) Measurement of Actual Performance
    (ii) Analysing Deviations
    (iii) Comparing Actual Performance with Standards
    (iv) Setting Performance Standards
    Choose the correct option:
    1.   (iv), (i), (iii), (ii)
    2.   (i), (ii), (iv), (iii)
    3.   (ii), (iii), (i), (iv)
    4.   (iii), (ii), (i), (iv)
13. A manager applies the existing theoretical knowledge in his own unique manner. This reflects that management is:
    1.   An Art
    2.   A Science
    3.   Pervasive
    4.   Universally applicable
14. Which type of recruitment gives the management a wider choice while selecting the people for employment?
    1.   Internal recruitment
    2.   External recruitment
    3.   Recruitment through labour contractor
    4.   None of these
15. Which of the following is a factor affecting dividend decision?
    1.   Stability of earnings
    2.   Cash flow position
    3.   Contractual constraints
    4.   All of these
16. Choose the function of management responsible for motivating employees and giving instructing to them to perform the tasks assigned to them.
    1.   Staffing
    2.   Directing
    3.   Planning
    4.   Controlling
17. The functions of management complementary to each other are:
    1.   Directing and Controlling
    2.   Planning and Organising
    3.   Organising and Staffing
    4.   Controlling and Planning
18. A company dealing in apparels has decided to clear its stock. It has a huge pile of unsold stock in all its branches across the country. It has decided to give discount on its products. It even has decided to go for various fashion shows in different colleges. They also have decided to sponsor a few events. Identify the marketing management philosophy highlighted above.
    1.   Production concept
    2.   Product concept
    3.   Selling concept
    4.   Marketing concept
19. Which of the following is the primary aim of financial management?
    1.   Link present with future
    2.   Optimum utilisation of resources
    3.   Wealth maximisation
    4.   Ensures availability of funds wherever required
20. The managers at ______level of management are responsible for the welfare and survival of an organisation.
    1.   Middle
    2.   Top
    3.   Lower
    4.   All of these