Fundamentals Areas of Business Test 25

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Fundamentals Areas of Business Test 25

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Weekly Quiz Competition

Question 1
1 / -0

The studies conducted at __________ revealed two kinds of styles viz, production centered and employee-centered, which are similar to 'initiating structure and consideration' leadership styles as researched by Ohio State University Studies.

A
University of Michigan

B
Oxford University

C
London University

D
Delhi University

Solution

Consideration and Initiating Structure are two dimensions of leader behavior identified in 1945 as a result of the Ohio State Leadership Studies.
According to the findings of these studies, leaders exhibit two types of behaviors to facilitate goal accomplishment: People-oriented (consideration).
Question 2
1 / -0

Which of the following is/are external users of accounting information's?

A
Shareholders/ Investors

B
Creditors

C
Government agencies

D
All of the above

Solution

External Users are those which are outside the affairs of the business.
Example: Shareholders, creditors, government etc.
Question 3
1 / -0

The basic objective of accounting is ________________.

A
To maintain systematic records of financial transactions

B
To ascertain financial performance

C
To ascertain financial position

D
All of Above

Solution

Basic objective of accounting is -
1. To record financial transactions and events.
2. To determine profit or loss.
3. To determine financial position.
4. Communicating accounting information to users.
Question 4
1 / -0

Human Resource Management as planning, organizing, directing, controlling of procurement, development, compensation, integration , maintenance and separation of human resources to the end that individual, organizational and social objectives are achieved. This definition is given by _______.

A
The National Institute of Personal Management

B
Edwin Flippo

C
Decenzo and Robbins

D
Robert Owen

Solution

Edwin Flippo defines- HRM as planning, organizing, directing, controlling of procurement, development, compensation, integration, maintenance and separation of human resources to the end that individual, organizational and social objectives are achieved.
HRM is defined as the process of managing employees in a company and it can involve hiring, firing, training and motivating employees.
An example of human resource management is the way in which a company hires new employees and trains those new workers.
Question 5
1 / -0

Areas of HRM oversight include _________.

A
employee recruitment, onboarding and retention

B
job role assignment

C
performance management

D
all of the above

Solution

Areas of HRM oversight include the following employee recruitment, on boarding and retention. talent management and workforce management performance management.
Therefore, their essential job responsibilities include: Developing and administering human resources plans and procedures that relate to company personnel. Planning, organizing, and controlling the activities and actions of the HR department.
Question 6
1 / -0

Which of the following is the example of external users of accounting information ______________.

A
Government

B
Owners

C
Management

D
Employee

Solution

Government is an external user of the accounting information as it is not part of the business.
There are two types of users of the financial statements
1. Internal Users: The examples of Internal users are owners, management and employee etc.
2. External Users: The example of External users are the government.
Question 7
1 / -0

Active Limited has launched a new range of air conditioners in order to add value to the usability of the product. The new range of air conditioners have an inbuilt air purifier and are available in attractive colors. Identify the type of marketing philosophy being described in the above lines.

A
Societal marketing concept

B
Marketing concept

C
Production concept

D
Product concept

Solution

With the increase in the supply of the products, customers start looking for products which are superior in quality, performance and features. The focus of business activity, here, is to bring continuous improvement in the quality, incorporating new features, etc. Thus, product improvement is the key to profit maximisation of a firm, under the concept of product orientation.
Hence, D is the correct option.
Question 8
1 / -0

To generate and facilitate any exchange intended to satisfy human needs or wants such that the satisfaction of these wants occur with minimal detrimental impact on the natural environment is known as_______.

A
Aggressive marketing

B
Operating marketing

C
Green marketing

D
All of the above

Solution

Green marketing refers to the process of selling products and/or services based on their environmental benefits. Such a product or services may be environment friendly in itself or produced in an environment friendly way. Green marketing is a part of new marketing approach.
Question 9
1 / -0

In India, the employment exchanges were established only after the ______.

A
first world war

B
great depression

C
second world war

D
independence
Question 10
1 / -0

Which of the following is not included in the model of the systems approach to human resource management?

A
Departmentation

B
Recruitment

C
Performance Appraisal

D
Promotion

Solution

Human resource management is the effective management of the employees in the organization. It assesses the performance of the employees in accordance with the requirement of the job, provides them training and development opportunities, and appreciates better results. It involves promotion, job rotation, increment and incentives, training, etc. for achieving the organizational goal with effective utilization of human resources. HRM does not include departmentation.
Departmentation is when the work of the organization is divided into departments. It deals with the management and grouping of work.
Hence, option (A) is the correct answer.

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Fundamentals Areas of Business Test 25

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Fundamentals Areas of Business Test 25

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SHARING IS CARING

Question 1

University of Michigan

Oxford University

London University

Delhi University

Solution

Question 2

Shareholders/ Investors

Creditors

Government agencies

All of the above

Solution

Question 3

To maintain systematic records of financial transactions

To ascertain financial performance

To ascertain financial position

All of Above

Solution

Question 4

The National Institute of Personal Management

Edwin Flippo

Decenzo and Robbins

Robert Owen

Solution

Question 5

employee recruitment, onboarding and retention

job role assignment

performance management

all of the above

Solution

Question 6

Government

Owners

Management

Employee

Solution

Question 7

Societal marketing concept

Marketing concept

Production concept

Product concept

Solution

Question 8

Aggressive marketing

Operating marketing

Green marketing

All of the above

Solution

Question 9

first world war

great depression

second world war

independence

Question 10

Departmentation

Recruitment

Performance Appraisal

Promotion

Solution

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