Functional Areas of Business solved MCQs

1 of 9

1. _______________ is responsible for assessing customer wants and needs.

a. Marketing

B. Operation

c. Finance

d. Human resource

2. _____________is concerned with the design and delivery of advice and financialproducts.

a. Human resource planning

B. Financial services

c. Marketing mix

d. None of the above

3. _______________ provides a conceptual and analytical framework for financial decision making.

a. Human resource management

B. Financial management

c. Marketing management

d. Nine of the above

4. Which assets yield a return over a period of time in future

a. Short term assets

B. Long term assets

c. Fictitious assets

d. All of the above

5. Operation management provide desired utilities of

a. Form

B. Place

c. Possession

d. All of the above

6. _______________ is the management of systems that creates goods and services.

a. Operations

B. Finance

c. Marketing

d. All of the above

7. Human resource management consist of

a. Collective bargaining

B. Contract negotiation

c. Grievance handling

d. All of the above

8. _________________ is that part of management concerned with people at work.

a. Finance

B. Operation

c. Marketing

d. None of the above

9. _____________ concerned with the main business activities which obtains and convertsresources of the business into goods/services

a. Production management

B. Finance management

c. Marketing management

d. None of the above

10. Wealth maximization is the acceptable objective because it is

a. Value maximization

B. Based on cash flows

c. Maximizes the market price of shares

d. All of the above

11. Overseeing the provisions of services is a role of

a. Human resource management

B. Operations management

c. Marketing management

d. None of the above

12. What function of business is responsible for ensuring that products and services meet high quality standards?

a. Finance

B. Marketing

c. Operations

d. None of the above

13. The main responsibilities of financial management function is

a. Obtaining capital and resources for expansion or to pay for resources such as equipment and materials.

B. Support for software applications, electronic communications and electronic transactions

c. Maintaining legal rights and responsibilities of employer and employees

d. All of the above

14. Two businesses are not the same; the functions will vary because of-

a. The size and scale of business

B. The preferences of owner

c. The types of customers

d. All of the above

15. __________________ concerned with developing new goods/services and updating old ones

a. Sales

B. Consumers Services

c. Research and development

d. None of the above

16. The main functions of human resource management is-

a. To attain maximum individual development

B. To prepare and maintain statement of finance

c. Providing information to the customers

d. Identify links between functions

17. Which type of function may be performed by the finance manager for management of profitability?

a. Forecasting future profits

B. Pricing

c. Cost control

d. All of the above

18. Which of the following are covered under the scope of Human Resource Management? (Choose the appropriate code given below)
(i) Forecasting Human Resource need
(ii) Replacement planning
(iii) Human Resource Dynamics
(iv) Human Resource Development Planning
(v) Human Resource Audit
Codes:

a. (i) (iii) and (v)

B. (i) (ii) (iii) and (iv)

c. (iii) and (v)

d. (i) (ii) (iii) (iv) and (v)

19. Which of the following is not a function of management?

a. planning

B. staffing

c. co-operation

d. controlling

20. Modern Marketing consists

a. Marketing Strategy and Research

B. Marketing effectiveness

c. Brand Management

d. All of the above

21. “Marketing is a human activity directed at satisfying needs and wants through exchange processes” is the statement by

a. Philip Kotler

B. Hansi L.V.

c. Peter F. Drucker

d. D.S. Pauler

22. Which of the following activities is not a direct responsibility of operations management?

a. developing an operations strategy for the operation

B. planning and controlling the operations

c. determining the exact mix of products and services that customers will want

d. designing the operations products, services and process

23. The major responsibility of production management is

a. Passing information and understanding from one process to another

B. Transformation of inputs into specified outputs

c. Determining the rates of materials and search for supplier

d. Receives demand of materials from different departments of the organisation

24. One objectives of financial management is

a. Ensuring a fair rate of return to the suppliers of capital

B. Management of cash

c. Disposal of surplus

d. None of the above

25. The marketing department of an anorganisation

a. Ensures that there is proper utilisation of resources

B. Compensating the employees

c. Delivery of materials to the right person at the right time

d. Distribution of goods and services.

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