MBA Drills & Vocab 3 Flashcards

1
Q

Which of these is an organisational barrier to communication?

A

Excessive authority layers

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2
Q

This communication is a free form of communication and does not follow any fixed pattern.

A

Informal

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3
Q

In communication, some certain rules and principles need to be followed while conveying a message.

A

Normal

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4
Q

communication involves the visual display of information through aids such as photos, signs, logos, codes, symbols and designs.

A

Visual

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5
Q

A process that involves transferring information from one party to another is called.

A

Information Sharing

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6
Q

Communication skills include all aspects of communication, that is, oral, written and listening skills.
True or Falls

A

TRUE

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7
Q

Effective business communication saves the time and cost incurred by preventing redoing of misunderstood tasks.
True or False

A

TRUE

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8
Q

How many Cs are involved in effective communication?

A

7

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9
Q

Communication helps in maintaining discipline and control in an organisation.
True or False

A

TRUE

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10
Q

Encoding is a process of deciphering the encoded message received from the sender and understanding its intended meaning.
True or False

A

FALSE

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11
Q

Communication between the production manager of an organisation and vendors regarding the quality of raw material is internal communication.
True or False

A

FALSE

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12
Q

Based on the____ , communication can be internal or external in the organisation.

A

Target audience

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13
Q

Which type of communication flows between employees working at the same level?

A

Horizontal communication

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14
Q

____is a type of perceptive bias where a particular perception of one’s personality trait influences the perception of the entire personality of that person.

A

Halo effect

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15
Q

Counseling employees for eliminating their fear of superiors can help them communicate effectively.
True or False

A

TRUE

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16
Q

Which of the following is the acknowledgement of receiving the message or a reply to the message?

A

Feedback

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17
Q

Which of these is not a benefit of business communication?

A

Threatening consumers

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18
Q

Communication is the process of passing information and understanding from one person to another.
True or False

A

TRUE

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19
Q

___refers to difficult or special words, which are specific to a group or profession.

A

Jargon

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20
Q

Which of the following is not a feature of Non-verbal Communication?

A

Infrequent

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21
Q

Verbal communication is faster than non-verbal communication.
True or False

A

FALSE

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22
Q

Non-verbal language has no particular grammar and syntax.

True or False

A

TRUE

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23
Q

Which of these is not an element of a good speech?

A

Uninteresting

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24
Q

Oral communication can help us save time by cutting down time spent on first writing and then reading a message.
True or False

A

TRUE

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25
Q

Which of the following factors act as barriers for oral messages?

A
  1. Noise
  2. Language
  3. Accent
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26
Q

Which of the following is a universal facial expression?

A

Sadness

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27
Q

Oral communication that adds a personal touch and develops better relationships is

A

Interpersonal

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28
Q

Glossophobia cannot be treated by which of the following:

A

Speaking in front of a large audience right away

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29
Q

Which of these is not a benefit of oral communication?

A

Good for lengthy messages

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30
Q

Oral communication cuts down money spent on paper.

True or False

A

TRUE

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31
Q

Both verbal and non-verbal communication include vocal and non-vocal elements,
True or False

A

TRUE

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32
Q

Public speakers should ideally open with a________.

A

Quotation

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33
Q

Which of the following is not an example of non-verbal communication?

A

Shouting as “I don’t know.”

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34
Q

Which of the following can be used to regulate the flow of a conversation?

A

Nodding of head

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35
Q

Which of the following is true of non-verbal communication?

A

It is continuous.

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36
Q

Non-verbal and verbal communication share the same evolutionary history.
True or False

A

FALSE

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37
Q

Which of the following is not good business etiquette?

A

Personal criticism

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38
Q

___is the extreme fear of public speaking.

A

Glossophobia

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39
Q

A skill in decoding non-verbal cues cannot be taught or learned.
True or False

A

FALSE

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40
Q

Which of the following represents actual use of communication skills?

A

Writing 9%; Reading 16%; Speaking 30%; and Listening 45%

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41
Q

The most desirable type of listening is______concentrating on the words being spoken.

A

Active listening

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42
Q

There are_______elements of reading.

A

5

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43
Q

________is defined as the process of decoding a series of written symbols and getting meaning from them.

A

Reading

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44
Q

In which type of listening, the listener is vulnerable to the speaker’s influence?

A

Emphatic listening

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45
Q

______is the process of speedy reading to gain the gist of a text.

A

Skimming

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46
Q

A reader is looking for some specific information only. Which technique would you suggest to him?

A

Scanning

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47
Q

________is the type of listening where the listener is just pretending to listen and is otherwise indifferent to what is being said.

A

Passive Listening

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48
Q

Which of the following is not one of the Ten Commandments for becoming an effective leader?

A

Show disinterest

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49
Q

______development is closely connected to comprehension.

A

Vocabulary

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50
Q

______are the smallest units of spoken language.

A

Phonemes

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51
Q

In which type of listening does the listener select the part that he is desirous of listening and ignores the rest?

A

Selective listening

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52
Q

For listening that leads to understanding, a listener should not______.

A

Interrupt and ask questions

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53
Q

______is the relationship between individual sounds (phonemes) in a spoken language and letters in that language.

A

Phonics

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54
Q

Which among the following could be a commandment of listening?

A

Empathise with the speaker

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55
Q

Which of these is not an element of reading?

A

Expression

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56
Q

According to Gough and Hillinger (1980), which of the following is not an innate skill?

A

Reading

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57
Q

In which type of phonics, the readers are taught to connect letters to their corresponding phonemes first and then use these together to create a word?

A

Synthetic phonics

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58
Q

Which of the following is not an advantage of written communication?

A

Time consuming

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59
Q

Consider the following template:

To: [Click here and type name]

CC: [Click here and type name]

From: [Click here and type name]

Date: 09/29/97

Re: [Click here and type subject]

This is a template of a/an .

A

Memo

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60
Q

In business world, the abbreviation “NB” stands for _________.

A

Please note

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61
Q

In case, the letter is addressed to a firm and no particular head is known; then, the name of the receiver should be prefixed with which of the following courtesy titles?

A

M/s

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62
Q

Which of the following informs people about the date, time, venue and reason of the meeting?

A

Notice

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63
Q

Which of these is not an essential feature of a report?

A

Ambiguity

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64
Q

Which of the following is not considered as an appropriate e-mail etiquette?

A

Writing in capitals

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65
Q

__________ proposals are requested by clients themselves, or submitted in response to an advertisement published by the client.

A

Solicited proposals

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66
Q

Which of the following communications provides a permanent record and is beneficial for future references?

A

Written

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67
Q

Nowadays,________ are fast replacing the use of memos in organisations.

A

Emails

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68
Q

___________is an important tool used in the decision-making process and can help the management to review and evaluate the performance of various departments in the organisation.

A

Report

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69
Q

Which of the following summaries accompanies a business proposal?

A

Executive summary

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70
Q

Which of the following is not an essential feature of a report?

A

Elaborate

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71
Q

Which of the following is the most detailed type of document used in case of applying for jobs?

A

Curriculum Vitae

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72
Q

Which is the longest part of the letter?

A

Main paragraph

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73
Q

Which of the following is not an advantage of e-mails?

A

Can contain viruses

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74
Q

Which of the following is an important principle to follow while drafting a report?

A

A report should be organised

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75
Q

Which section or part of a business proposal is created with an intent to stimulate interest of the prospective buyer in the proposal?

A

Cover letter

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76
Q

Which of the following is not required for good written communication skills?

A

Knowledge of English

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77
Q

In a letter, complimentary close is also known as

A

Subscription

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78
Q

‘Bottle up feelings that explode’ are the traits of a/an:

A

Aggressive person

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79
Q

In one’s professional life, the ability to be assertive can put one on the fast track to a ____________ role.

A

Leadership

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80
Q

‘Using dramatic words and being hostile’ are the features of a/an:

A

Aggressive person

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81
Q

When one is aggressive, the power he/she uses is and may come across as pushy or even bullying.

A

Selfish

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82
Q

__________ is communicating and expressing one’s thoughts, feelings and opinions in a manner that makes one’s views and needs clearly understood by others without putting down their thoughts, feelings or opinions.

A

Assertiveness

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83
Q

Managing assertively helps managers to work effectively by sharpening their ___________ skills.

A

People

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84
Q

An _________ always considers his own best interest without regard for the rights, needs, feelings or desires of others.

A

Aggressive individual

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85
Q

Calm thinking and respectful negotiation are the features of a/an:

A

Assertive person

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86
Q

Which of the following is not a trait of empathetic employees?

A

Do not provide constructive feedback

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87
Q

Which of the following describes the attributes of emotional intelligence?

A

Ability to understand others’ points of view

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88
Q

Who coined the term ‘Emotional Intelligence’?

A

John Mayer and Peter Salovey

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89
Q

Which of the following is not a key element of emotional intelligence?

A

Courtesy

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90
Q

As per Goleman, what percentage of success at work can be attributed to ordinary intelligence (IQ)?

A

20%

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91
Q

Which of the following researchers introduced the most extensively used model of emotional intelligence?

A

Daniel Goleman

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92
Q

What kind of relationship has been observed between emotional intelligence and job stress?

A

Inverse

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93
Q

Which of the following is not a trait of self-regulated employees?

A

Do not abide by their values

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94
Q

Match the following lists:

List I. List II
A. Self-awareness i. Ability to sense other’s feelings
B. Self-management. ii. Understanding one’s own emotions
C. Empathy iii. Handling one’s emotions and completing tasks at hand

A

A – ii; B – iii; C – i

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95
Q

‘A person who is aware and conscious about himself is always aware of how they feel and how their emotions and/or actions can affect people around them.’ Which element of emotional intelligence is described in this statement?

A

Self-awareness

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96
Q

Which of the following is not one of the key managerial skills?

A

Managing change

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97
Q

Leaders focus on ___________ .

A

Achievements

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98
Q

Which of the following is not a characteristic of leadership?

A

Leadership is a position

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99
Q

Which of the following factors are not responsible for creating and sustaining an organisational culture as per Stephen Robbins?

A

Monetary rewards

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100
Q

_________ stage of socialisation entails all the learning that occurs before a new employee joins the organisation.

A

Pre-arrival stage

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101
Q

Assertion: Leadership cannot be considered as a position or

Reason: Leadership is a relationship between people in which one person is the leader and other people are followers who have trust in their leader.

Choose the correct answer:

A

Both the assertion and the reason are correct

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102
Q

Choose the odd one out.

A

Tacit networks

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103
Q

Which among the following is the ability to manage, motivate and influence workers to work with confidence and enthusiasm?

A

Leadership

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104
Q

Consider the following statements and choose the correct

Statement I: Effective leadership helps in influencing the behaviour of people

Statement II: Effective leadership helps in the training and development of the subordinates

A

Statement I – True; Statement II – True

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105
Q

___________ refers to the set of norms, values, beliefs, assumptions, perceptions and attitudes that exist within an organisation and are held by its employees.

A

Organisational culture

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106
Q

Which of the following is not a function of organisational culture?

A

Predicts human behaviour

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107
Q

Which of the following is not a characteristic of leadership?

A

Annual process

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108
Q

In _________ stage of socialisation, long-lasting changes take place as the new employee excels in the skills required for his or her new roles.

A

Metamorphosis stage

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109
Q

Which of the following is not a characteristic of a transformational leader?

A

Intense

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110
Q

Avinash, the manager of AXZ Corporation, seeks the opinion of his group members before taking the final decision on most of the important matters concerning the organisation. What kind of a manager (leader) is he?

A

Democratic

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111
Q

Which leadership style is also known as the free-rein style of leadership?

A

Laissez-faire style

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112
Q

Which of the following is not one of the top six leadership challenges?

A

Guiding projects

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113
Q

In an organisation, a manager has given his employees the entire authority to make decisions on their own. What kind of a leader can the manager be called?

A

Laissez-Faire

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114
Q

In which leadership style, leaders include other employees in the decision-making process?

A

Democratic style

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115
Q

In a negotiation process, there is set of rules and procedures to resolve a conflict.

A

No predetermined

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116
Q

A ____________ is a dynamic individual who focusses on the teamwork along with leading the team to produce effective results.

A

Leader

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117
Q

The minimum number of parties required in a negotiation process is _________ .

A

Two

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118
Q

Leaders should have excellent ___________ skills that make them communicate with others without a problem.

A

Interpersonal

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119
Q

In a negotiation process, parties involved in negotiations try to reach a ____________ agreement.

A

mutual

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120
Q

Leaders should be able to __________ their teams and guide them with passion, inspiration and sincerity.

A

Motivate

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121
Q

Which of the following theories is also called great man theory?

A

Charismatic leadership theory

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122
Q

Democratic leadership style is also known as

A

Participative style

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123
Q

Which type of leadership style was demonstrated by Jack Stahl, the former President of Coca-Cola?

A

Situational style

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124
Q

Actions of closed posture include:

A

Crossed legs

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125
Q

An example of open posture includes which of these actions?

A

Upright and firm head

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126
Q

Touching the face, playing with jewellery, running hands through the hair, etc., come under:

A

Fidgeting

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127
Q

Which of these visual aids is/are used to show geographic areas or other locations?

A

Maps

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128
Q

Resisting or avoiding eye contact is often considered to be signs of ____________ , inattentiveness or lack of confidence by most people.

A

Rudeness

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129
Q

Which of the following is not an advantage of visual aids?

A

Visual aids make the audience lose their attention span.

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130
Q

_________ cultures perceive direct eye contact as a sign of competitiveness.

A

Asian

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131
Q

__________ may include movement from any part of the body.

A

Gestures

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132
Q

“Smiling in between the topics and appearing optimistic will help in getting the audience’s attention.” Which of the following quality of the presenter is being talked about?

A

Facial expressions

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133
Q

“Careful dressing up is important as clothing may consciously/unconsciously send a negative message”. Which quality of the presenter is being talked about?

A

Dress code

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134
Q

Which element of a presentation should have a description set in a framework that the audience can comprehend the information easily, absorb data and make sense out of it?

A

New information

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135
Q

While delivering presentation, pausing in between _____________ is useful in creating impact.

A

Key information

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136
Q

Which of these should a presentation begin with?

A

Introduction

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137
Q

_________ are often composed in PowerPoint because users can create visually appealing instructions for distributors to flip through.

A

Brand style guides

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138
Q

_________ are suitable tools to stress on a point or to explain a topic when the real object is not physically present.

A

Photographs

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139
Q

The of a team is improved by exploiting the collective ideas, knowledge and skills of all the members of the team.

A

Overall performance

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140
Q

At the ___________ stage, there is a gradual elevation in group performance level as members learn to cooperate and initiate to emphasise on group goals.

A

Norming

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141
Q

At the __________ stage, the performance of the members of the group reaches its maximum limit.

A

Performing

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142
Q

Which of the following is the next stage after forming in group development?

A

Storming

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143
Q

Which teams are formed for a temporary period to achieve a critical task say, problem solving or new product development?

A

Virtual teams

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144
Q

Teams represent the hierarchical structure within an organisation in terms of authority, which is clearly defined on the:

A

Organisational chart

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145
Q

The concept of teams gained significance in the:

A

1970s

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146
Q

____________ indicates the willingness of a member to support the decisions on reaching a certain stage or point.

A

Consensus

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147
Q

In which of the following games each participant is given a single sheet of paper and told that they must construct the tallest free-standing structure in just five minutes using no other materials?

A

Paper Tower

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148
Q

Coin logo is a type of __________ .

A

Communication game

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149
Q

Which of the following team is also called an autonomous workgroup?

A

Self-managed teams

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150
Q

A task force or a project team comes under:

A

Cross-functional teams

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151
Q

Which of the following is not an aspect of developing a team of leaders?

A

Sneak peek

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152
Q

At which stage conflict and competition among group members may emerge?

A

Storming

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153
Q

Picture pieces game is a type of _________ game.

A

Problem solving

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154
Q

Eye contact is a game that is conducted for:

A

Trust building

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155
Q

At the __________ stage, the group is dissolved as the objective of the group is fulfilled.

A

Adjourning

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156
Q

“The work is distributed among the members of the group so that they can display their potential.” Which of the following feature of the team is referred here?

A

Delegation of work

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157
Q

____________ -level conflict refers to the conflict which occurs at any level of the organisation.

A

Organisational

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158
Q

When a manager demands too much output in a short period, it can lead to among employees.

A

Demotivation

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159
Q

Conflicts at the workplace create a sense of ___________ among employees and hamper their productivity.

A

Insecurity

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160
Q

Conflicts are helpful in ___________ of doubts or apprehension.

A

Clarification

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161
Q

____________ communication can lead to misunderstanding between employees.

A

Improper

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162
Q

The very first step in conflict resolution process is ____________ .

A

Define the source of the conflict

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163
Q

Which of the following types of conflict occurs within a single group or between the members of a group?

A

Intra-group conflict

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164
Q

___________ conflict occurs between two or more organisations.

A

Inter-organisational

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165
Q

________________ refers to a technique of conflict resolution in which both parties are required to give up their motives and think collectively to resolve a conflict.

A

Compromise

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166
Q

___________ may be referred to as a struggle or tussle between individuals with varied needs, ideas, beliefs, values or goals.

A

Conflict

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167
Q

A/An _____________ is a communication strategy that helps in redirecting a person’s argumentative energy rather than attempting to overcome it.

A

Agreement frame

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168
Q

Which of the following is a probable reason for conflict in an organisation?

A

Change of policies

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169
Q

The Mahabharata is classified as ___________ .

A

Smriti

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170
Q

Heard literature is known as ____________ .

A

Sruti

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171
Q

Which of the following is concerned with a worker’s loyalty and sense of belongingness to the organisation?

A

Work ethos

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172
Q

Business professionals and businesses can learn to form alliances from which of the scriptures?

A

Mahabharata

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173
Q

What is the meaning of dharma?

A

Righteousness

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174
Q

Which of the following important management lessons are not associated with Kautilya’s Arthasasthra?

A

Utilise resources optimally

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175
Q

As per Aristotle, a writer may persuade his audience by using three types of rhetorical appeals. Which of the following options is not a part of those three Aristotelian appeals?

A

Samos

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176
Q

________ refers to the beliefs of people which help in distinguishing between different cultures.

A

Ethos

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177
Q

Decision making in silence means ____________ .

A

Brain Stilling

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178
Q

Which of the following is not a characteristic of western management?

A

Focus on quantity

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179
Q

Which of the following is not a characteristic of Indian management?

A

Focus on individual initiatives

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180
Q

Which of the following behaviour is expressed by a passive person?

A
  1. Blames Others

2. Do not have rights.

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181
Q

Assertive behaviour includes:

A

All of these:

  1. Being open in expressing wishes, thoughts and feeling and encouraging others to do the same.
  2. Accepting responsibilities and being able to delegate to others.
  3. Listening to view of others and responding appropriately whether in agreement with those or not.
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182
Q

Which of the following is correct with respect to a manager giving feedback to employees?

A
  1. Provide specific and constructive feedback without demoting the employees.
  2. Ask for feedback.
  3. Provide feedback promptly without waiting.
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183
Q

Which of the following is true with respect to leaders?

A
  1. Leaders set a common direction and purpose for other people.
  2. Leaders can convince people.
  3. Leaders give motivation and enthusiasm to other people.
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184
Q

What is/are the main purpose of presentations?

A
  1. Motivate
  2. To celebrate
  3. To inform
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185
Q

Which of these are signs of nervousness in the presenter?

A
  1. Fidgeting

2. Pausing

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186
Q

Which of the following are the tips for making effective PowerPoint presentations?

A

If the slides are too text heavy, viewers will get distracted reading to long blocks of wording and stop listening to the speaker.

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187
Q

Which of the following are the advantages of presentation?

A
  1. Presentations are face to face.
  2. Presentations offer flexibility.
  3. Presentations engage audience engagement.
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188
Q

An effective presentation is based on:

A
  1. Voice Delivery
  2. The presenter.
  3. Content.
  4. All of these.
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189
Q

Which of the following is an important aspect of effective team management?

A
  1. Understand the needs and traits of all team members.
  2. Managers need to make the team members comfortable so that they can open up and work.
  3. Managers need to gel up with people involved to get work done.
190
Q

Which of the following is the reason for the formation of teams?

A
  1. To encourage mutual decision making as a team
  2. To form an environment of sustenance and trust among team members.
  3. To provide voluntary support to all team members.
191
Q

Implementation of Vedic knowledge assures that it is possible to achieve best results using a positive and right approach by implementing social responsibilities related to _____________ .

A
  1. Corporate philanthropy.
  2. Community development programs.
  3. Family welfare programs.
192
Q

The fundamental principle of _________ is that in his whole conduct, man should be guided exclusively by considerations derived from the present life itself.

A

Secularism

193
Q

‘Lack of involvement in excisions’ and ‘role ambiguity’ are the types of _________ causes of stress.

A

Organisational

194
Q

Which of the following is not an extra organisational cause of stress?

A

Coping with daily life

195
Q

Who defined value as a belief that something is good and desirable?

A

M. Haralambos

196
Q

_________ not only help the organisation to recruit better quality employees but also help to attract staff, who are a better fit.

A

Core values

197
Q

Which of the following are group causes of stress?

A

Conflict

198
Q

According to _________ , an individual’s thoughts, words and actions have consequences.

A

The Great Law

199
Q

_________ focuses on taking ownership of one’s life.

A

The Law of Responsibility

200
Q

According to_________, Nirvana or enlightenment exists on the earth in impermanent moments.

A

The Law of Here and Now

201
Q

Which of the following does not come under organisational causes of stress?

A

Lack of social support

202
Q

_________ states that the people one meets and the places one inhabits are entirely one’s choice.

A

The Law of Growth

203
Q

Sources of stress or factors related to stress can be broadly divided into _________ parts.

A

Four

204
Q

Which of the following is not a feature of secular management?

A

Inclusion of ethical, spiritual, moral and human values

205
Q

The term value is derived from the _________ word ‘valere’ meaning ‘to be strong, to prevail or to be of worth.’

A

Latin

206
Q

_________ means desire less, while ‘Karma’ means action.

A

Nishkam

207
Q

Education set up under the chairmanship of Mr. S. B. Chavan, in its report to the Indian Parliament in February _________, has identified five core universal values.

A

1999

208
Q

The term spirituality has been derived from a Latin word SPIRITUS which refers to _________ .

A

Breath

209
Q

__________ practices in business are controlled with ethical standards which are beneficial for their employees.

A

Unfair

210
Q

Business ethics are __________ practices and should be followed by every business.

A

Voluntary

211
Q

Business ethics relate to different __________ groups connected with a business such as or consumers, stakeholders.

A

Social

212
Q

Business ethics is also associated with principles and__________ of moral duty and obligation.

A

Standards

213
Q

The decisions taken by the employees and the management are driven by ethics and __________ .

A

Values

214
Q

Business ethics is __________ and may vary across different countries and different types of businesses.

A

Relative

215
Q

Every business should follow certain basic principles and set up a __________.

A

Code of conduct

216
Q

There prevails a myth that business ethics has more to do with __________than management.

A

Religion

217
Q

Business ethics is the basic __________ which lays out the foundation for conducting business in a fair and ethical manner.

A

Framework

218
Q

__________ refers to a set of moral beliefs and principles that govern the behaviour and activities of a group or an individual in a society.

A

Ethics

219
Q

The word __________ means character, manner, culture and mindset.

A

Ethos

220
Q

__________relates to the code of conduct regarding what is right and what is wrong.

A

Business ethics

221
Q

With the changing __________, there are new regulations and newer threats and issues which need to be handled.

A

Technology

222
Q

The word ‘ethics’ is taken from the __________ word ethos.

A

Greek

223
Q

The final step in ethical decision-making and resolving business problems is __________ .

A

Implement the plan

224
Q

Ethical _______ is nothing but interpretation of the situation at hand.

A

Reasoning

225
Q

When there are two or more ethical principles which could lead to an equally good or equally bad outcome, it gives rise to the situation of an _______ .

A

Ethical dilemma

226
Q

The conceptual aspects of ethical dilemma are related to the complexity of decision making arising out of a _______ situation.

A

Moral

227
Q

An ethical dilemma is a _______ situation a person faces in which a decision must be taken about the adequate action to be taken.

A

Composite

228
Q

The codes of ethics and conduct are actually _______ .

A

Structured

229
Q

Due to which of the following, ethical dilemma may arise?

  1. Failure of an individual character
  2. Difference between personal values and social standards
  3. Conflict between personal values and Organisational values
  4. All of these
A
  1. All of these
230
Q

For managing the issue of ethical dilemmas, a business professional has to first outline the situation and identify the core _______ .

A

Values

231
Q

Which of the following amount to unethical practice?

  1. Insider trading
  2. Bribery
  3. Discrimination
  4. All of these
A
  1. All of these
232
Q

Ethical _______ leadership is the concept that leaders should be guided and motivated by their own and others’ values.

A

Values-based

233
Q

The tone set by demonstrating ethical _______ by managers determines how employees must respond to ethical challenges.

A

Leadership

234
Q

Which of the following is a characteristic of an ethical dilemma?

  1. Cannot be solved by can be resolved
  2. Indecisive outcomes
  3. Availability of limited resources to handle the confusing situations
  4. All of these
A
  1. All of these
235
Q

Organisations have witnessed colossal monetary costs in the form of fines or _______ settlements.

A

Legal

236
Q

Ethical culture in the organisation brings the benefits of promoting ethical conduct and greater levels of _______ .

A

Confluence

237
Q

Ethical culture in organisation helps in shaping the behaviour of _______ .

A

Employees

238
Q

An ethical dilemma is a _______ dilemma that results in a debatable decision-making process.

A

Moral

239
Q

A code of ethics and _______ offers an invaluable opportunity for a responsible organisation to further its positive public identity.

A

Conduct

240
Q

Costs to reputation have spanned from dissipating confidence in an organisation to downfall in _______ .

  1. Sheer market
  2. Stock market
  3. Urban market
  4. Grey market
A
  1. Stock market
241
Q

Ethical _______ is a set of principles that help in differentiating between what is morally right and what is morally wrong.

A

Culture

242
Q

An Essay on the Nature and Significance of Economic Science - 1932

A

Lionel Robbins

243
Q

Who coined the term ‘Emotional Intelligence

A

John Mayer and Peter Salovey

244
Q

Which of the following researchers introduced the most extensively used model of emotional intelligence?

A

Daniel Goleman

245
Q

hackman and oldham

A

job diagnostic survey

246
Q

From which measure of central tendency is the sum of the deviations (ignoring signs) minimum?

A

Median

247
Q

What do you call the two events which can not occur simultaneously?

A

Mutually exclusive

248
Q

Which of the following would fit the definition of “statistical independence” of events A and B?

A

P(A/B) = P(A)

249
Q

What do you call the data collected first hand by the researcher as?

A

Primary

250
Q

A sociologist focusing on popular culture and media believes that the average number of hours per week (hrs/week) spent using social media is greater for women than for men. Examining two independent simple random samples of 100 individuals each, the researcher calculates sample standard deviations of 2.3 hrs/week and 2.5 hrs/week for women and men respectively. If the average number of hrs/week spent using social media for the sample of women is 1 hour greater than that for the sample of men, what conclusion can be made from a hypothesis test where: { 0: − = 0 1: − > 0?

A

The observed difference in average number of hrs/week spent using social media is significant

251
Q

What do you refer the approach of drawing conclusions about the population from few units out of full population as?

A

Sampling

252
Q

Which of the following statements is true about the type one error?

A

Type one error means to reject a correct hypothesis

253
Q

What is plotted on Y axis when we draw an ogive?

A

Cumulative frequency

254
Q

What is the parameter of chi-square distribution?

A

Degrees of freedom

255
Q

Which of the following statements is true about the null hypothesis?

A

Any wrong decision related to the null hypothesis results in two types of errors

256
Q

What would be the value of Y if X is 20 and regression equation of Y on X is: Y = 5 + 0.5X?

A

15

257
Q

What is the degree of freedom for a 3 X 3 contingency table?

A

4

258
Q

What does the probability of all the events in a sample space add up to?

A

100%

259
Q

What do you call the statement that is accepted if the sample data provide sufficient evidence that the null hypothesis is false?

A

Alternate hypothesis

260
Q

What do you call a characteristic that varies in quality from one individual to another?

A

Attribute

261
Q

What type of correlation exists between the two variables, if the values of the two variables move in opposite direction?

A

Negative

262
Q

What is the mode of the following data of marks obtained by 10 students in a class test? 2,8,10,15,12,2,10,2,8,2

A

2

263
Q

What is the standard deviation of the following distribution of daily wages earned by a worker in 6 days of a week? 200, 200, 200, 200, 200, 200

A

0

264
Q

What is the formula for coefficient of average deviation from median?

A

A.D./Median

265
Q

Which of the following statements is true about the geometric mean of two regression coefficients?

A

It is equal to the correlation coefficient

266
Q

Which of the following best describes the general probability rule?

A

P(A or B) = P(A) + P(B) - P(A and B)

267
Q

What is the original hypothesis known as?

A

Null hypothesis

268
Q

In a college 50% of the students play cricket, 40% play badminton and 20% play both the sports. If a student is selected at random, what is the probability that he/she plays either cricket or badminton or both?

A

0.7

269
Q

If the ratio of change between the two variables is a constant then what type of correlation will be there?

A

Linear

270
Q

What do you name the test as, if the critical region is located equally in both sides of the sampling distribution of test-statistic?

A

Two tailed

271
Q

Which of following does analysis of variance compare for several populations?

A

Mean

272
Q

Which of the following techniques is an analysis of the relationship between two variables to help provide the prediction mechanism?

A

Regression

273
Q

What is the mean of the following sales data? 10,10,10,-10,-10,-10

A

0

274
Q

What is the median of the following data of age of 5 children in a study: 4,2,8,10,6?

A

6

275
Q

What would be the value of X if Y is 20 and regression equation of Y on X is: Y = 5 + 0.5X?

A

Can not predict X from this regression equation

276
Q

“A failing student is passed by an examiner”, is an example of which of the following?”

A

Type two error

277
Q

An advertising agency wants to test the hypothesis that the proportion of adults in India who read a Sunday Magazine is 25 percent. What would be the null hypothesis about the proportion reading the Sunday Magazine?

A

Ho = 25%

278
Q

If r = 0.4 and one of the regression coefficients is 0.2, what is the vale of the other regression coefficient?

A

0.8

279
Q

What is the purpose of goodness of fit test?

A

“To assess whether the central tendency, variability and distribution of sample is different from that of the population “

280
Q

On which of the following does the critical value for a chi-square statistic rely?

A

The degrees of freedom

281
Q

Which average is the best to use for averaging Speed?

A

Harmonic mean

282
Q

What would be the value of correlation coefficient(r) if there is a perfect positive correlation between the two variables?

A

r = +1

283
Q

What is the conditional probability of event A given event B has occurred?

A

P(A/B) = P(A∩B)/P(B)

284
Q

What do you call events A and B if the outcome of event A is not affected by event B?

A

Independent

285
Q

Chi-square test for independence assesses which of the following?

A

It assesses whether there is a relationship between two categorical variables

286
Q

What is the coefficient of quartile deviation if Q1 is 15 and Q3 is 45?

A

0.5

287
Q

What is the coefficient of variation if variance is 16 and mean is 80?

A

5%

288
Q

Which measure of variation cannot be computed for an open-ended distribution?

A

Range

289
Q

Which scale represents the highest level of measurement?

A

Ratio

290
Q

What category out of the following best fits the Bar diagram?

A

One dimensional

291
Q

In which dispersion we ignore Algebraic signs?

A

M.D

292
Q

Which is suitable when we measure average population growth in India?

A

G.M

293
Q

Which dispersion is also called as Inter Quartile range?

A

Quartile deviation

294
Q

When is direct personal investigation method is suitable?

A

Information is very confidential and complex

295
Q

What do we use for representing pictograms?

A

Pictures

296
Q

In Pie chart the components of a factor is represented by what?

A

Sectors

297
Q

What is the geometric mean of 4&5?

A

4.472

298
Q

With the help of ogive curves which central Tendency can be identified?

A

Median

299
Q

Which dispersion we use in day to day life?

A

Range

300
Q

When scope of enquiry is limited and the universe containing a unit having different characteristics make the Intensive study of each unit desirable. which method is more suitable?

A

Census

301
Q

If Q1=36, Q3=72 what is the quartile deviation?

A

18

302
Q

Which is the best measure of relative measures of dispersion?

A

Coefficient of variation

303
Q

What is the standard deviation of the following age distribution? 10,10,10,10,10

A

0

304
Q

If there are two groups with 75 and 65 as Arithmetic means and containing 15 and 13 observations, then what is the combined arithmetic mean?

A

70.35

305
Q

Which is not a measure of Central Tendency?

A

Range

306
Q

Which central tendency can be identified with the help of Histogram?

A

Mode

307
Q

Which of the drawbacks of the Direct Personal Investigation method?

A

It is very costly and time taking process

308
Q

What is the coefficient of variation if S.D=3 and mean =12 ?

A

25

309
Q

The values changing at a percentage rate have to be found, then which is most suitable average?

A

Geometric mean

310
Q

What is the mean of 5,5,5,5,5,5 ?

A

5

311
Q

The reciprocal of arithmetic mean of the reciprocal of observations is known as which central tendency?

A

Harmonic mean

312
Q

What is the value of the sum of the deviations taken from mean value?

A

0

313
Q

Which is true interms of pictograms?

A

Least accurate

314
Q

Which of the following is the difference between primary and secondary data?

A

Primary data is more reliable than secondary data

315
Q

What is the range for the following distribution? 5,5,5,5,5,5,5,5,5,5

A

0

316
Q

In quartile deviation we devide the data into how many equal parts?

A

4

317
Q

Which of the following is not the source of government publications?

A

Finance commission report

318
Q

What is the range of the following sales data? 10,12,14,16,18,20 ?

A

10

319
Q

Which of the following is True related to Histogram?

A

Class intervals are equal

320
Q

What is the suitable average when data is having extreme values?

A

Median

321
Q

Every transaction has to reported as ultimately related to money

A

Money Measurement Concept

322
Q

In Double Entry system of Book-keeping, every business transaction affects which of these options?

A

Two accounts

323
Q

Who are Creditors for supplying goods to the Company?

A

To whom the Company owes Money

324
Q

Which of the following is not the causes of depreciation?

A

Actual cost of the asset

325
Q

Amount of salary paid to Kamal should be debited to which account head?

A

Salary Account

326
Q

What is the nature of financial accounting?

A

Historical

327
Q

What does Money Measurement Concept as a convention of Financial Accounting refer to ?

A

Accounting only transactions which can be measured in money

328
Q

In which method of Depreciation does the the depreciation amount is the same every year?

A

Straight Line Method

329
Q

Metrpol acquired a machine for Rs. 5,40,000 on 1st April 2009. Depreciation was to be charged at 20%p.a. Calculate Depreciation if the accounting year ends on 31st March

A

1,08,000

330
Q

The amount brought in by the proprietor is called as what?

A

Capital

331
Q

A machine costing Rs. 120,000 has accumulated depreciation of Rs. 50,000. What is the book value of machine?

A

Rs. 70000

332
Q

ABC Pvt. Ltd company invests money in shares of another company, PQR Pvt. Ltd. Where is this investment recorded in?

A

Asset side of Balance Sheet

333
Q

What is the process of recording the transactions into a journal called as ?

A

Journalising

334
Q

Which term is used to denote the value of the asset at the end of its useful life?

A

Salvage value

335
Q

Copyrights, Patents and Trademarks are which type of assets?

A

Intangible assets

336
Q

Purchase of furniture will have what effect on total assets?

A

Increase

337
Q

Which of the following expenses is a non cash expense in business?

A

Depreciation

338
Q

Which of the following is not a Real Account?

A

Outstanding rent A/c

339
Q

Depreciation is necessary for which category of accounts?

A

Fixed Assets and Intangible Assets

340
Q

Capital is shown under liabilities of the balance sheet. Which principle is followed here?

A

Business Entity concept

341
Q

How to provide depreciation if the fixed asset is purchased in the middle of the year?

A

Provide for proportionate period of actual utilisation i.e from the day put to use

342
Q

Who issues Indian Accounting Principles?

A

IFRS

343
Q

What is the other name of Actual cost?

A

Historical cost

344
Q

Which account should be debited when a customer returns goods?

A

Sales return account

345
Q

The auditor noticed that the financial statements of Alpha Company were missing some footnotes important for users for decision making. This action of the management is a violation of which concept?

A

Full disclosure concept

346
Q

What is the system of recording based on dual aspect concept called?

A

Double entry system

347
Q

Which of the following assets do not come under “current asset”?

A

Car

348
Q

Which of the following would not be a basis for estimating the useful life of a piece of equipment?

A

Weight of the equipment

349
Q

Goods returned to supplier should be debited to which account?

A

Supplier’s account

350
Q

Which principle requires that the same accounting method should be used from one accounting period to the next?

A

Consistency

351
Q

Which of the following is not a current asset?

A

Furniture

352
Q

A trader purchased a small machinery for Rs. 10,000 in Apr 2015. Depreciation is charged @ 25% under diminishing balance method. At the end of third year, 31st March 2018, what shall be the closing Written Down Value of the machinery ?

A

Rs. 4219

353
Q

Which is the Indian Accounting body based in London, known as?

A

IASB

354
Q

How is Net Working Capital Arrived at?

A

Total Current Assets less Total Current Liabilities

355
Q

Cash Balance Rs. 15,000; Trade Receivables Rs. 35,000; Inventory Rs. 40,000; Machinery Rs. 25000, Trade Payables Rs. 24,000 and Bank Overdraft is Rs. 6,000; Loans Rs. 55000. What is the Current Ratio?

A

3:01

356
Q

Which one of these most appropriately describes the need for making depreciation adjustment while preparing final accounts?

A

Adjustment becomes necessary while drawing the financial statements in order to reflect proper operating results and financial position as depreciation involves reduction in value of assets and its productivity on account of use, wear and tear, etc.,

357
Q

When cheque is returned by bank due to insufficient fund, what is that cheque called as?

A

Dishonoured cheque

358
Q

Which accounting concept mentions that the owners are separate from the business?

A

Separate entity

359
Q

What does a high p/v ratio imply about the organisation?

A

Making huge profits

360
Q

If profit - 1,00,000; Contribution- Rs 5,00,000 then calculate fixed cost

A

4,00,000

361
Q

The amount paid out of the profits of the company to its shareholders is known as

A

Dividend

362
Q

Where are the initial business transactions recorded?

A

General Journal

363
Q

Which expense is an appropriation of profit?

A

Dividend

364
Q

Which of the following are not the causes of depreciation?

A

Actual cost of the asset

365
Q

Patents, Trademark, Copyrights are also ‘Assets’ to an organisation. Which of these is the most appropriate accounting classification?

A

Intangible assets

366
Q

Which one of these statement explains the causes of the difference between the cash/bank book (as per books) vis-a vis the bank statement

A

Bank Reconciliation Statement

367
Q

What is the ideal ratio of quick ratio ?

A

1:01

368
Q

The formula to calculate average collection period is

A

365/Average receivables turnover ratio

369
Q

A product is sold at Rs. 150 per unit and its variable cost is Rs. 70 per unit. The fixed expenses of the business are Rs. 8,000 per year. What is the Break-even point in terms of units?

A

100 units

370
Q

What does ‘Capital Employed’ mean?

A

Networth+ Long term liabilites

371
Q

The depreciation method used for natural assets like coal mines, oil wells etc. is:

A

Depletion method

372
Q

When goods are sold on credit to a party Mahesh, the account to be debited will be:

A

Mahesh account

373
Q

Which of the following amount will be deducted from balance as per cash book while preparing bank reconciliation statement?

A

Cheque deposited but not yet collected

374
Q

What is the process of recording transactions from the journal, cash book, etc to the ledger known as ?

A

Posting

375
Q

Which of the following amounts will be added to balance as per cash book while preparing bank reconciliation statement?

A

Cheque issued but not yet presented for payment

376
Q

What is the formula to calculate contribution ?

A

Operating income plus fixed costs

377
Q

What is the amount of closing stock if opening stock is Rs.4500, cost of goods sold is Rs.54500, purchases are Rs.60000?

A

Rs. 10000

378
Q

A machinery with a cost of Rs. 9,00,000 and accumulated depreciation of Rs. 8,00,000 is sold for Rs. 80,000. What is the amount of the gain or loss on the disposal of the machinery?

A

Rs. 20000 loss

379
Q

In case of a Limited Company, which one of these is true in case of any change in method of depreciation ?

A

Permitted in all cases. However the change and the impact of the same on the financials needs to be informed separately under the Notes forming part of the Accounts in order to enable the users/readers of the financial statements be informed suitably.

380
Q

If sales amounts to Rs 2,40,000; Gross Profit is Rs 60,000; What would be the Gross Profit Ratio?

A

25%

381
Q

Which account is credited when the goods purchased are returned by the firm?

A

Purchase return

382
Q

Which ratios measure an organisations performance in generating earnings over related expenses over a specified time period?

A

Profitability ratios

383
Q

Which one of them is a statement or document that reflects in a single place the summary of respective debit and credit balances of all the ledgers forming part of the books of accounts?

A

Trial Balance

384
Q

Who prepares the Bank Reconciliation Statement?

A

Accountant

385
Q

What do we refer Trading and Profit and Loss Account and Balance Sheet, all together as?

A

Final Accounts

386
Q

The credit effect for prepaid rent will appear as

A

Deduction from rent paid

387
Q

What is the term used to describe when a cheque is issued to a creditor, but is not presented for payment?

A

Outstanding cheque

388
Q

The loyalty of workers being intangible cannot be quantified, and thus the same can find no place in the books of accounts. This is an example of which accounting principle?

A

Money Measurement Concept

389
Q

What to do we refer to those expenses, which have been incurred, but not paid?

A

Outstanding Expenses

390
Q

A product is sold at a price of Rs. 120 per unit and its variable cost is Rs. 80 per unit. The fixed expenses of the business are Rs. 8,000 per year. What is the Break-even point?

A

Rs. 24000

391
Q

Where the entity reaches a scenario where there is no profit and loss and the costs equals revenues, What is the strange situation referred to as ?

A

Break-even point/Indifference Point

392
Q

From the information, Find BEP : Variable cost per unit - Rs 12; Fixed expenses - Rs 60,000; Selling price per unit - Rs 18

A

10000 units

393
Q

Which ratios measure the ability of a company to meet its short term obligations?

A

Liquidity ratios

394
Q

The current account of a businessman shows Rs. 10000 as overdrawn. On examining the bank statement, it was observed that one of the customers has deposited Rs. 4000 directly into the account and that the bank charges were Rs. 200. What is the bank statement balance?

A

Rs. 6200

395
Q

In cash book, what does favourable balance indicates?

A

Debit balance

396
Q

Which of the following cost can be defined as the cost of next best alternative that is given up when consumers make a choice?

A

Opportunity Cost

397
Q

“Economics is the Science which studies Human behaviour as a Relationship between ends & scarce means which have alternative uses”. Identify which of the following viewpoint is defined here, choose the correct option.

A

Scarcity Viewpoint

398
Q

When the Producer earns maximum profit with optimal combination of factors which is represented by Isoquant and Iso cost, which type of the equilibrium is attained? Choose the correct answer

A

Producer’s Equilibrium

399
Q

The total quantity that all the consumers of a Product are willing to purchase at a given price over a specific period. What is the total quantity demanded termed as?

A

Market Demand

400
Q

Which of the following law states that as consumption increases, the utility that a consumer derives from additional units of a commodity diminishes constantly. Identify the law described here.

A

Law of Diminishing Marginal Utility

401
Q

There are few instances / situations where the Law of Demand does not apply. These instances are known as Exceptions to Law of Demand. Which of the following is NOT an exception?

A

Fruits & Vegetables

402
Q

“A table that shows the relationship between the price of a good and the quantity demanded is used in understanding the concept of Demand. Select the term used to describe this table from the following options.

A

Demand Schedule

403
Q

The Scarcity of resources also leads to the problem of the Choice of Technique for production. An organization will have to decide on best combination of inputs to produce Goods & Services. Which of the following problems is described here? Choose the correct answer.

A

How to Produce

404
Q

One of the classical perspective of Economics believes that Economics as a Subject is mainly concerned with the production & expansion of wealth. Identify which of the following viewpoint is described here, choose the correct option.

A

Wealth Viewpoint

405
Q

Which of the following theories helps managers to determine the factors that affect the buying decisions of consumers & their needs & requirements alongwith helping the firms decide the Price & the Level of Production?

A

Demand theory

406
Q

Change in total quantity produced by including one more worker. Which concept is explained by this statement?

A

Marginal product

407
Q

A curve that shows efficient combinations of labor and capital that can produce a single or equal level of output or Quantity. Identify the curve described here.

A

Iso Quant

408
Q

Which of the following concept shows the way in which a consumer’s purchase of any good changes as a result of change in his income?

A

Income Elasticity

409
Q

Demand is the Quantity of a commodity which a consumer wants to buy at a given price. The demand is driven by 3 main components, which of the following option is NOT a component of Demand?

A

Supplier’s attitude

410
Q

The Law of Supply states that Quantity supplied increases with the increase in the price of the commodity. What kind of relationship exists between Price & Quantity supplied?

A

Direct Relationship

411
Q

When Demand of a product is associated with demand of another product, which type of demands is defined here?

A

Derived Demand

412
Q

Which of the following cost is defined as- Cost or Expenditure which a firm incurs for producing or acquiring a good or service which are recorded in the books of accounts of a business unit. Identify the cost described here.

A

Actual Cost

413
Q

The application of Economic Concepts & Theories in the Process of Business decision making is done by managers in taking logical decisions in an Organization. Which branch of Economics is defined here?

A

Managerial Economics

414
Q

Which of the following functions defines relationship between Output & different levels & combination of Inputs?

A

Production Function

415
Q

Which Branch of Economics studies the Economy as a whole, analyses the aggregates of Individuals, Businesses, Prices & Output? Select the correct answer.

A

Macro Economics

416
Q

The root cause of all the Economic problems is the Scarcity of Resources, while the wants & needs are Unlimited; this creates central problems in a Economy, Which of the following is NOT a central problem created due to Scarcity?

A

Where to Produce

417
Q

In the long‐run, all factors of production are variable. What is the other term used to describe the long run cost curve? Choose the correct answer.

A

Envelope Curve

418
Q

What is the period in which a firm can change only few factors of production, and other factors are fixed is known as?

A

Short Run

419
Q

What are those factors whose Quantity can be changed during a specific period of production known as?

A

Variable factors

420
Q

Microeconomics deals with the behaviour of Individuals, Commodities & Prices at the micro level. Select which of the following is NOT a theory of Microeconomics?

A

National Income Theory

421
Q

“The degree of responsiveness of quantity demanded towards changes in its determinants like Price, Income of Consumer & Price of related goods”, Which concept is defined here?

A

Demand Elasticity

422
Q

“Which of the following law states that as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will eventually declines?

A

The law of variable proportions

423
Q

Which of the following concept refers to the cost advantages due to the larger size of production, in other words, as the volume of production increases, the overhead cost will come down?

A

Economies of Scale

424
Q

The Quantity demanded for a particular commodity depends on various factors. Identify which of the following is NOT a factor that determines demand.

A

Income of the Supplier

425
Q

Macroeconomics theory deals with the issues related to General Business environment in which an Organization operates. Which of the following is NOT an objective of Macroeconomics?

A

Individual’s employment

426
Q

Which of these is not a quantitative instrument of Monetary Policy?

A

Moral Suasion

427
Q

When CRR is increased, how does it affect the money supply?

A

It decreases money supply

428
Q

Average cost or unit cost is equal to total cost divided by the number of units of a good produced. The average fixed cost at 5 units of output is Rs. 20. Average variable cost at 5 units of output is Rs. 40. What is the Average cost of producing 5 units?

A

Rs.60

429
Q

Which of the following guidelines by the RBI does not hamper the profitability of commercial banks in India?

A

Bank rate

430
Q

What does oligopoly market kinked demand curve explains?

A

Collusion among rival firm

431
Q

The long-run supply curve of a perfectly competitive firm means which from the given options?

A

Is equal to that portion of the long-run marginal cost curve that is above the relevant short-run average total cost curve

432
Q

When firms in the Oligopoly depend on each other for getting maximum benefit, which type of Oligopoly market will it constitute?

A

Syndicated oligopoly

433
Q

Which of these cannot be termed as a socio-economic problem in India?

A

High population

434
Q

The term “Capital” is used in many perspectives. In which perspective this term is used in economics?

A

Assets

435
Q

When group of firms forms their own association for price and output in Oligopoly, what is this condition called as?

A

Cartel

436
Q

What do we call the funds that the banks keep with RBI as a portion of their Net Demand and Time Liabilities?

A

Cash Reserve Ratio

437
Q

When can the Collusion in an oligopoly market be made easier?

A

When number of firms are less

438
Q

There are many models which describes the oligopoly market condition. Which of the following is NOT a model of classical Oligopoly?

A

Waltor’s Model

439
Q

A cartel can also give each member exclusive right to operate in a particular geographic area. What do you call such cartel as?

A

Market-sharing cartel

440
Q

When the dominant firm determines the price in oligopoly market, what do you call that firm as?

A

Price Leadership

441
Q

If a firm sells its output on a market that is characterized by many sellers and buyers, a homogeneous product, unlimited long-run resource mobility, and perfect knowledge, which type of market competition will it create?

A

Perfect competition

442
Q

What do we call the instruments of monetary policy which directly affect the quantity of money supply?

A

Quantitative instruments

443
Q

Isoquants represent the combination of two factors of production giving same level of output. What is the shape of Isoquant curves?

A

Downward sloping

444
Q

An underdeveloped economy has many characteristics. Which of the following is the most important characteristics of underdeveloped economy?

A

State of deprivation of large proportion of population

445
Q

Which of the following could not be considered a major economic system?

A

Quality of life index

446
Q

Which of the following explains the term Economic Growth?

A

Increase in real GDP

447
Q

Which concept explains the degree of responsiveness of quantity demanded towards changes in its determinants like Price, Income & Price of related goods and many others?

A

Elasticity of Demand

448
Q

Macroeconomics focuses on broader concepts unlike microeconomics. What are the parameters on which Macroeconomics is focused on?

A

Resource usage in the entire nation

449
Q

When you study the production theory from long run perspective, what advantage it has over the short run theory which helps in making rational production decisions?

A

All factors of production can be varied

450
Q

Managerial Economics can be defined in many ways. How can it be best defined from the given options?

A

A field that applies economic theory and the tools of decision science

451
Q

When 5 units of a goods are sold, total revenue is Rs. 100. When 6 units are sold, marginal revenue is Rs. 8. At what price are 6 units sold ?

A

Rs. 18 per unit

452
Q

The primary focus of microeconomics is the study of individuals and their behaviour. What are the two variables you associate this meaning with?

A

Individuals and their resource usage

453
Q

Unemployment in India is very high, but which sector creates biggest employment opportunity in India?

A

Service sector

454
Q

Marginal revenue is equal to price for which one of the following types of market structure?

A

perfect competition

455
Q

Law of Supply states that Quantity supplied increases with the increase in the price of the commodity. What kind of relationship exists between Price & Quantity supplied?

A

Direct Relationship

456
Q

What is the condition under perfectly competitive market that the firm makes a decision to shut down?

A

When the price is below the minimum of average variable cost

457
Q

Benefits like improved organization, division of labour and specialization, better supervision and control, etc. enjoyed by a firm when it expands production. What benefit that a firm can have through this?

A

Economies of scale

458
Q

Suppose the equilibrium price of good X is $10 and the equilibrium quantity is 60 units. If the price of good X is $4 which option from these would be relevant?

A

There will be an excess demand for good X.

459
Q

Economics is considered as a Social Science. Identify the reason for the same?

A

It is primarily concerned with how scarce resources are used

460
Q

Which of the following market types has the fewest number of firms?

A

Oligopoly

461
Q

Economic development is different from Economic growth. How do you define economic development as?

A

Increase in economic growth plus human capital

462
Q

When an increase in the general price level of goods and services is observed, what problem will it create in the economy?

A

Inflation

463
Q

There are few conditions in which Law of Demand does not apply. Which of the following is NOT an exception to Law of demand?

A

Fruits & Vegetables

464
Q

What do you call the Net Market Value of net output of final goods and services produced within an economy during a year after depreciation?

A

Net Domestic Product

465
Q

Which sector has grown the most over forty years?

A

Tertiary

466
Q

If the market demand curve for a commodity has a negative slope, which type of market structure will it form?

A

Market structure cannot be determined only from demand curve

467
Q

Which of the following concept describes the change in quantity demanded as a result of change in consumer income?

A

Income Elasticity

468
Q

The short-run supply curve of a perfectly competitive firm means which from the given options?

A

Is equal to that portion of the short-run marginal cost curve that is above the average variable cost curve

469
Q

The cost of bank credit is determined on the basis of base rate and all bank loans are given at a rate equal to or higher than the base rate. Of the following, who determines this base rate?

A

It is determined by the bank concerned

470
Q

A monopolistic competition is the perfect blend of two distinct market competitions. Identify the combination which creates monopolistic competition?

A

Perfect competition & Monopoly