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Volume 03 Accounting MCQs PDF
Volume 03 Accounting MCQs PDF
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Volume 03
Accounting MCQs
Question No: 1 ( Marks: 1 ) - Please choose one
An
accounting system is used by a business to:
► Analyze transactions
► Handle routine book-keeping tasks
► Classify and summarize financial information
► All of the given options
Question No: 2 ( Marks: 1 ) - Please choose one
The
assets which have a limited useful life are termed as:
► Limited assets
► Depreciateable assets
► Unlimited assets
► None of the given options
► Book-keeping
► Accounting
► Auditing
► All of the given options
Which of the following account balance is shown on credit side of Trial Balance? (It is
assumed that all account balances are shown on normal balance)
► Cash account
► Furniture account
► Vehicle account
► Capital account
► Revenue expense
► Capital expense
► Administrative expense
► Operating expense
Balance
20 units @ 13 = 260
Eighty-five units were sold, what is the value of the ending inventory using the FIFO
method of inventory costing?
► Rs.260
► Rs.232
► Rs.284
► Rs.268
Cost/Unit Total
Date Item Quantity Rs. Rs.
Jan. 2 Beginning inventory 10 10 100
Mar. 4 Purchase 35 11 385
May 8 Purchase 40 12 480
Nov. 3 Purchase 20 13 260
De31 Merchandise available 105 1,225
10 @ 10
35 @ 11
35 @ 12
now remaining are
5 units @ 12 = 60
20 units@ 13 =260
closing stock = 25 units and value = 320
80 units were sold, Use the FIFO method of inventory costing and determine the cost of
goods sold.
► Rs. 1,225
► Rs. 1,015
► Rs. 965
► Rs. 905
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Question No: 12 ( Marks: 1 ) - Please choose one
If,
Cost of machine = Rs.400, 000
Useful life = 5 years
Residual value = Rs.25, 000
The depreciation of machine per year using straight line method is?
= 400,000-25000 / 5 = 75000
► Rs. 160,000
► Rs. 96,000
► Rs. 75,000
► Rs. 57,600
► Rs.25, 000
► Rs. 75,000
► Rs. 15,000
► Rs. 1, 00,000
► Cost price
► Market value
► Fair value
► Written down value (WDV)
What would be the value of 'cost of goods manufactured' if the total factory cost of the
month is Rs. 6,000, opening work in process is Rs. 2,000 and the closing work in
process is Rs. 2,500?
► Rs. 5,500
► Rs. 8,000
► Rs. 4,500
► Rs. 8,500
► Raw material
► Work in process
► Finished goods
► Merchandise inventory
Which of the following account balance will be shown on debit side of Trial Balance? (It
is assumed that all account balances are shown on normal balance)
► Cash account
► Furniture account
► Vehicle account
► All of the given options
► Customer’s account
► Sales return account
► Goods account
► Accounts receivable
Which of the following account will be credited in the books of ABC Co. Ltd., if furniture
is purchased on cash?
► Furniture account
► Cash account
► Business account
► Bank account
Which of the following account will be credited, If Mr. “A” started business with cash
Rs. 2, 00,000?
► Capital account
► Cash account
► Mr. A’s account
► Business account
Which of the following journal entry will be recorded, if the goods are sold on credit to
Mr. 'B'?
► Mr. “B” / Accounts Receivable account (Dr) and Sales account (Cr)
► Cash account (Dr) and sales account (Cr)
► Sales account (Dr) and Mr. B / Accounts Receivable account (Cr)
► Goods Sold account (Dr) and Mr. B / Accounts Receivable account (Cr)
► Accounts Receivable
► Accounts Payable
► Sales Revenue
► Marketable Securities
► Liquid assets
► Current assets
► Fixed assets
► Capital assets
Which of the following summarizes the cash movements during a specified period?
► Trading account
► Profit & Loss account
► Receipts & Payments account
► Balance Sheet
► Balance Sheet
► Trading and Profit & Loss account
► Cash Flow Statement
► Statement of Retained Earnings
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Question No: 31 ( Marks: 1 ) - Please choose one
In
an account, if credit side < debit side then the balance is known as:
► Negative Balance
► Debit Balance
► Positive Balance
► Credit Balance
► Voucher
► General Journal
► General Ledger
► Trial balance
► Debit
► Credit
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► Revenue
► None of the given options
Economic resources owned by a business and expected to benefit for the future
operations are called:
► Expenses
► Assets
► Capital
► Liabilities
Assets total Rs.50, 000 and Liabilities total Rs.10, 000. What is the equity of the
business?
► Capital Expense
► Revenue Expense
► Deferred Expense
► Preliminary Expense
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Date Particulars
(Dr.)
Rs.
(Cr.)
Rs.
2008 jan1 Cash account 50,000
Capital account 50,000
(owner invested cash )
Prepare Cash and Capital Accounts with the help of given Journal entries.
MIDTERM EXAMINATION
Spring 2009
MGT101- Financial Accounting
Time: 60 min
Marks: 50
Student Info
StudentID:
Center:
ExamDate:
Marks
Q No. 9 10 11 12 13 14 15 16
Marks
Q No. 17 18 19 20 21 22 23 24
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Marks
Q No. 25 26 27 28 29 30 31 32
Marks
Q No. 33 34 35 36 37 38 39 40
Marks
Q No. 41
Marks
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Question No: 1 ( Marks: 1 ) - Please choose one
Net
Profit + Expenses= _________
► Liabilities
► Assets
► Capital
► Income
► Appreciation
► Depreciation
► Fluctuation
► None of the given options
► Voucher
► General Journal
► General Ledger
► Trial Balance
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Question No: 6 ( Marks: 1 ) - Please choose one
► A memorandum statement
► A ledger account
► A part of cash book
► A part of journal
► Rs.7, 500
► Rs.7, 978
► Rs.8, 000
► Rs.8, 400
► Rs.260
► Rs.232
► Rs.284
► Rs.320
► Rs. 205,000
► Rs. 215,000
► Rs. 220,000
► Rs. 225,000
► Machinery account
► Depreciation account
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► Cash account
► Capital account
► Rs.25, 000
► Rs. 75,000
► Rs. 15,000
► Rs. 1, 00,000
Which of the following organization converts raw material into finished goods?
► Trading concern
► Manufacturing concern
► Merchandising concern
► Service concern
► Interest expenses
► Wages and salaries
► Depreciation expenses
► Discount Allowed
Which of the following is an alternate term which can be used for “Capital”?
► Liability
► Owner’s net worth
► Working capital
► Asset
► Rs. 300
► Rs. 2,500
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► Rs. 2,800
► Rs.18, 800
Which of the following account balance will be shown on debit side of Trial Balance? (It is
assumed that all account balances are shown on normal balance).
► Capital account
► Sundry creditors account
► Accounts payable account
► Cash account
► Cash account
► Capital account
► Drawings account
► Proprietor account
Which of the following account will be credited, if business sold goods for Rs.10,000 on credit?
► Cash account
► Sales account
► Accounts receivable account
► Purchases account
Which of the following account will be credited, if business purchased a vehicle on cash?
► Vehicle account
► Cash account
► Business account
► Bank account
Which of the following journal entry will be recorded, if the goods are sold on credit to Mr. 'B'?
► Mr. “B” / Accounts Receivable account (Dr) and Sales account (Cr)
► Cash account (Dr) and sales account (Cr)
► Sales account (Dr) and Mr. B / Accounts Receivable account (Cr)
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► Goods Sold account (Dr) and Mr. B / Accounts Receivable account (Cr)
Which of the following shows summary of a company's financial position at a specific date?
► Selling Expenses
► General Expenses
► Financial Expenses
► All of the given options
► Income Statement
► Balance Sheet
► Trial Balance
► Cash Book
► Cash Book
► Purchase Return Book
► Purchase Book
► All of the given options
► Pass Book
► Cash Book
► Purchase Book
► Sales Book
According to the double entry system of accounting, an account that obtains benefit is:
► Debit
► Credit
► Income
► No need to show as accounting record
► Cash
► Credit
► Accrual based
► None of the given options
State with reasons whether the following items of expenditure are capital or revenue in
nature.
1. Wages paid on the purchase of goods.
2. Carriage paid on goods purchased.
3. Transportation paid on purchase of machinery.
4. Octroi duty paid on machinery.
5. Octori duty paid on goods.
6. A second hand car was purchased for Rs. 7,000 and Rs, 5,000 were spent for its repair
and overhauling.
7. Office building was whitewashed at a cost of Rs. 3,000.
8. A new machinery was purchased for Rs. 80,000 and a sum of Rs. 1,000 was spent on its
installation and erection
9. Old furniture was repaired at a cost of Rs. 500.
10. Land was purchased for Rs. 1, 00,000 and Rs. 5,000 was paid for legal expenses.
MIDTERM EXAMINATION
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Spring 2009
MGT101- Financial Accounting (Session - 4)
Ref No: 564819
Time: 60 min
Marks: 50
Student Info
StudentID:
Center: OPKST
Marks
Q No. 9 10 11 12 13 14 15 16
Marks
Q No. 17 18 19 20 21 22 23 24
Marks
Q No. 25 26 27 28 29 30 31 32
Marks
Q No. 33 34 35 36 37 38 39 40
Marks
Q No. 41
Marks
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Question No: 1 ( Marks: 1 ) - Please choose one
► Revenue Expenditures
► Capital Expenditures
► Financial Expenditures
► Operating Expenditures
Which one of the following is NOT true for Profit & Loss Account?
► It shows whether a business has made a profit or loss over a financial year
► It shows the financial performance of a business for the period
► It shows revenues and expenses for the period
► It is used to calculate surplus/deficit for a particular period
► Rs. 2, 25,000
► Rs. 2, 50,000
► Rs. 2, 75,000
► Rs. 75,000
► Limited assets
► Depreciate able assets
► Unlimited assets
► None of the given options
Which of the following particular is NOT included in the specimen of a Journal Voucher?
► Name of organization
► Bank receipt
► Debit amount
► Credit amount
When the process of production is completed, all the costs must be charged to:
While adjusting the cash balance of cash book, which of the following is NOT taken into
account.
► Revenue expense
► Capital expense
► Capital receipt
► Revenue receipt
► Revenue expense
► Capital expense
► Administrative expense
► Operating expense
► Rs. 205,000
► Rs. 215,000
► Rs. 220,000
► Rs. 225,000
► Rs. 160,000
► Rs. 96,000
► Rs. 75,000
► Rs. 57,600
► Rs. 20,000
► Rs.40, 000
► Rs.90, 000
► Rs.160, 000
Which of the following account will be credited, when the goods are purchased on
cash?
► Stock account
► Cash account
► Supplier account
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► Work in process account
► Raw material
► Work in process
► Finished goods
► Merchandise inventory
Which of the following particulars are included in the specimen of a cash receipt
voucher?
1) Name of the organization
2) Cash code
3) Date of transaction
Which of the following financial statement DO NOT show the financial health of a
business at a specific date?
► Rs.15,000
► Rs. 35,000
► Rs. 55,000
► Rs. 60,000
Which of the following account will be credited, if the goods are sold on credit to Mr.
Mahmood?
► Cash account
► Mr. Mahood account
► Sales account
► Purchases account
“Electricity bill for the month is paid by Mr. Imran Rs. 325”. What is the journal entry to
record this transaction?
► Cash a/c Rs. 325 (Dr.) , Utilities Expense a/c Rs. 325 (Cr.)
► Utilities Expense a/c Rs. 325 (Dr.), Cash a/c Rs. 325 (Cr.)
► Accounts Receivable a/c Rs. 325 (Dr.), Utilities Expense a/c Rs. 325 (Cr.)
► Utilities Expense a/c Rs. 325 (Dr.), Accounts Receivable a/c Rs. 325 (Cr.)
► Accounts Receivable
► Accounts Payable
► Sales Revenue
► Marketable Securities
► Franchise rights
► Goodwill
► Patents
► Land
► Income Statement
► Balance Sheet
► Trial Balance
► Cash Book
► Cash Book
► Purchase Return Book
► Purchase Book
► All of the given options
► Latin
► English
► French
► Chinese
We can define trail balance is a statement of all the open debit and credit items in
a double-entry ledger, made to test their equality whether it is correct or not.
As the definition indicate us we can easily removed error through trial balance
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MIDTERM EXAMINATION
Spring 2009
MGT101- Financial Accounting (Session - 6)
Ref No:
Time: 60 min
Marks: 50
Student Info
StudentID:
Center: OPKST
Marks
Q No. 9 10 11 12 13 14 15 16
Marks
Q No. 17 18 19 20 21 22 23 24
Marks
Q No. 25 26 27 28 29 30 31 32
Marks
Q No. 33 34 35 36 37 38 39 40
Marks
Q No. 41
Marks
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Question No: 1 ( Marks: 1 ) - Please choose one
Net
Profit + Expenses= _________
► Liabilities
► Assets
► Capital
► Income
Which of the following fixed asset is shown at cost rather than book value?
► Machinery
► Furniture
► Vehicles
► Land
While adjusting the cash balance of cash book, which of the following is NOT taken into
account.
Cost/Unit Total
Date Item Quantity Rs. Rs.
Jan. 2 Beginning inventory 10 10 100
Mar. 4 Purchase 35 11 385
May 8 Purchase 40 12 480
Nov. 3 Purchase 20 13 260
De31 Merchandise available 105 1,225
80 units were sold, Use the FIFO method of inventory costing and determine the cost of goods
sold.
► Rs. 1,225
► Rs. 1,015
► Rs. 965
► Rs. 905
► Raw material
► Work in process
► Finished goods
► Closing stock
Which of the following account will be credited, when the goods are purchased on cash?
► Stock account
► Cash account
► Supplier account
► Work in process account
Partially completed products that are not yet ready for sale are known as:
► Raw material
► Work in process
► Finished goods
► Closing stock
Which of the following particulars are included in the specimen of a cash receipt voucher?
4) Name of the organization
5) Cash code
6) Date of transaction
► Customer’s account
► Sales return account
► Goods account
► Accounts receivable
Which of the following account will be credited in the books of ABC Co. Ltd., if furniture is
purchased on cash?
► Furniture account
► Cash account
► Business account
► Bank account
Which of the following account will be credited in the books of XYZ Co. Ltd, if the business
purchased a vehicle though cheque?
► Vehicle account
► Cash account
► Business account
► Bank account
Which of the following item will appear on the Balance Sheet as current assets?
► Prepaid expenses
► Accrued expenses
► Furniture and Equipment
► Unearned revenue
Which of the following shows summary of a company's financial position at a specific date?
► Public libraries
► NGOs
► Labor unions
► All of the given options
► General Ledger
► Balance Sheet
► Profit and Loss Account
► Cash Flow Statement
Which of the following financial statement summarizes the profitability of an organization for a
particular period?
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► Balance Sheet
► Trading and Profit & Loss account
► Cash Flow Statement
► Statement of Retained Earnings
► Journalizing
► Posting
► Balancing
► Analyzing
► General Journal
► General Ledger
► Trial Balance
► Balance Sheet
► Intangible Asset
► Liquid Asset
► Current Asset
► Fixed Asset
► Debit
► Credit
► Revenue
► None of the given options
► Transaction
► Business
► Society
► Trust
State with reasons whether the following events are transactions to Mr. Afnan’s business
7) Mr. Afnan started business with Rs. 50,000.
8) Mr. Afnan bought furniture for Rs. 2,000 for business use.
9) Submitted a tender for goods worth Rs. 10,000.
10) Appointed a cashier on a salary of Rs. 2,000 per month.
11) Paid salary to cashier Rs. 2,000.
QUIZ
Mark the correct answer
(1)_____ courses help managers gain a better understanding of motivation, leadership, trust,
employee selection, performance appraisals, and training techniques.
Psychology
Sociology
Political science
Anthropology
► In general, entrepreneurs are better able than managers in a traditional hierarchical
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organization to
lead.
organize.
respond to a changing environment.
respond to a static environment.
► A construction supervisor site who sees an impending thunderstorm, tells workers to go home, and
secures the site is demonstrating
authority.
delegation.
accountability.
responsibility
► _________ involves the delegation of decision-making and authority to lower levels in the
organization.
Decentralization
Departmentalization
Specialization
Centralization
(5)The belief that a firm's obligation goes beyond that required by law and economics, and
includes a pursuit of long-term goals that are good for society is known as
social responsiveness.
ethical responsibility.
social responsibility.
social obligation)
(7) The objective of TQM is to create an organization committed to continuous
_________
Improvement.
Development
Struggle
a&b
(8) The process of assigning authority and responsibility to one’s subordinates to manage a project
is called
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centralization.su
pervision.
delegation.
specialization.
Scientific management
Bureaucratic management
Classical management
Administrative management
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QUIZ
Choose the correct option.
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(5) Tactical goals and plans typically involve time periods of _________.
1 year.
1 to 3 years.
3 to 5 years.
More than 5 years.
(6) ______________are those targets or future end results set by lower management that
address specific, measurable outcomes required from the lower levels.
Strategic goals.
Tactical goals.
Operational goals.
None of given options.
(7) MBO was first described by _________.
Peter Drucker.
Henry Minzberg.
Henri Fayol.
Fredrick W. Taylor.
(8) A__________ is a prescribed series of related steps to be taken under certain recurring
circumstances.
Procedure.
Plans.
Policy.
Project.
(9) Tactical plans tend to be_________ specific and concrete than strategic plans.
More.
Less.
Lower.
None of given options
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Trust
Integrity
Consistency
► Women leaders tend to adopt a more ____________than men do.
Autocratic
Democratic
Directive
None of above mentioned
► __________leadership is described as going beyond charisma with the ability to
create and articulate a realistic, credible, attractive vision of the future for an
organization or organizational unit that grows out of and improves on the present.
Charismatic
Transformational
Visionary
None of above mentioned
► ___________studied three leadership styles: autocratic, democratic, and laissez-
faire.
Ohio State Studies
University of Michigan Studies
University of Iowa Studies
Hawthorne studies
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responsibility
span of control
authority
accountability
9. Power can be viewed as a three-dimensional concept. It includes functional and
hierarchical dimensions as well as a third dimension called:
influence.
legitimacy.
departmentalization.
centrality
10. An organization that groups activities according to women's footwear, men's
footwear, apparel, accessories, and leggings would use ___________
departmentalization.
functional
product
customer
geographic
11. One of the following is characteristic of Democratic Leaders:
Unilateral decisions
Involve group in decision making
Dictate work method
Participate only to answer question.
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QUIZ
1. Conceptual skills relate to a manager’s ability to:
Take a strategic view of how the part of the organization function.
Solve detailed problems in groups.
Correctly evaluate organizational problems.
Understand and interact effectively with others in the organization.
2. Which of the following statements about middle managers is not true?
Middle managers coordinate the work of supervisors.
Middle managers implement the objectives and plans of top management.
The number of middle managers in the most organizations is
increasing
Operatives can report directly to middle managers.
► When the CEO of a large retail store chain decided to sell off or close some of the
locations that were not profitable, he was performing the management function referred to
as _________.
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Leading
Planning
Controlling
Organizing
5. -------------- involves cultivating a learning culture where organizational members
systematically gather knowledge and share it with others to achieve better performance.
Knowledge management
Learning Organization
Entrepreneurship
None of the given options
6. Mr. A. is a manager in a manufacturing company, he attempts to establish a culture of
quality affecting the attitudes and actions of every employee and relies on a workforce that
wants to improve quality. He focuses on establishing:
Total Quality Management
Knowledge management
Operations Management
Management of Information System
7. Ali is working in XYZ Company, he desires to get himself secure from crimes, company lay
offs and other adverse impacts. We can say that he fulfils the ----------------
- need.
Self Actualization
Social need
Esteem
Safety
8. In -------------- theory management assumes that employees may be ambitious, self-
motivated, and anxious to accept greater responsibility, and exercise self-control, self-
direction, autonomy and empowerment.
Theory Y manager
Theory X manager
Theory Z manager
All of the above
9. ----------- involves the products, services, and other outcomes produced by the
organization.
Inputs
Transformation process
Outputs
Feed Back
10. ----------- is known as the father of scientific management.
Fredrick Winslow Taylor.
Max Weber
Peter Drucker
None of the given options
11. --------------- searches organization and its environment for opportunities and initiates
“improvement projects” to bring about changes.
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Disturbance handler
Liaison
Leader
Entrepreneur
12. Mr. A is a manager in Xyz Company. He gets his work done with and through other
people. He leads the employees motivates them and have a good interaction with
his employees, which of the following skills he has:
Technical Skills
Human Skills
Conceptual Skills
Decisional Skills
13. ---------------- is the final step in the decision-making process.
Implementing the decision
Evaluating the decision
Recognizing the decision
Evaluating the alternatives
14. A --------- is a series of interrelated sequential steps that can be used to respond to
a structural problem.
Policy
Rule
Well structured problems
Procedure
15. Mintzberg grouped the ten managerial roles into three primary headings. Which of
the following is not one of these headings?
interpersonal relationships
transfer of information
planning
decision making
16. Organizations that have a high potential of offering rival products or services are
called
Suppliers
Competitors
Clients
Customers
17. Mr. Zafar has undertaken a new business of leather bags investing
150,000; usually with some accountability of risk. We may call Mr. Zafar:
Manager
Leader
Competitor
Entrepreneur
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Break
evenBoth A and
B
19. Mr. X the HR manager of Star Mini Miners Club recruits labor with different skills for
different jobs. This approach is characteristic of
Equity
Impersonality
Division of labor
Discipline
20. In ABC Company, all the activities particularly those regarding decision-making, are
concentrated within a particular location and/or group. The company observes
Centralization
DecentralizationS
pan of control
Job Rotation
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QUIZ
1. Which of the following is not allowed in a brainstorming session?
Clear definition of the problem
Criticism of poor ideas
Large number of alternatives
Recording of all alternatives
2. Mr. A is the HR Manager of XYZ Company. He decided to terminate a group of employees
because their positions were no longer necessary in the organization. What will you say Mr. A
has decided for?
Restructuring
Turnover
Downsizing
Job Rotation
3. A job has high -------------- if workers are given substantial freedom, independence, and discretion
in scheduling the work and determining the procedures to be used in carrying it out.
Autonomy
Feed back
Skill Variety
Enlargement
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► A ------------- Structure is well suited to organizations which have a single or dominant core
product because each subunit becomes extremely adept at performing its particular portion of the
process.
Divisional
Functional
Matrix
Both A and B
► Which of the following has not contributed to the boundaryless organization?
Changes in technology
Complex and dynamic environments
Static environments
Increases in telecommunication
► Managers will often not choose the decision alternative that rational decision making indicates to
be best because they have a “vague feeling” that another alternative will be better. Which of the
behavioral factors that influence decision-making does this behavior reflect?
Bounded rationality
Escalation of commitment
Intuition
Satisficing
► ------------ means that the two merging companies became history and a new firm is established
Acquisition
Merger
Joint Venture
Both A and B
► ------------- means only one company became history which is the acquired company while the
acquiring company remain.
Joint Venture
Merger
Acquisition
Both A and B
► A ------------- takes as input an object or situation described by a set of properties, and outputs a
yes/no decision.
Decision Criteria
Decision Making Process
Decision Tree
None of the given options
► Maslow's hierarchy of needs proposes that an individual begins by satisfying ----------- needs.
Self-actualization
Esteem
Physiological
Safety
► Which element of structure refers to the continuous line of authority that extends from the highest
organizational levels to the lowest and clarifies who reports to whom?
Work specialization
Span of control
Centralization
Unity of command
► For a manager to control or direct the work of an employee, the manager must have _____.
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Line authority
Responsibility
Referent power
Staff authority
14. Organizations that have developed the capacity to continuously adapt and change because their
members take an active role in identifying and resolving work-related issues are called _____
organizations.
Learning
Visionary
Community
Interdependent
15. Master Sofa Makers recently bought an upholstery firm, Fabulous Fabrics, in an effort to control
its inputs by becoming its own supplier. This is an example of -------------.
Concentration
Vertical integration
Horizontal integration
Diversification
15. When an organization is in several different businesses, these single businesses that
are
independent and formulate their own strategies are often called _____.
Strategic business units
Monopolistic advantages
Quality controllers
Stars
17. Organizations using Porter's _____ strategy select a market segment in an industry and attempt
to exploit it rather than serve the broad market.
Cost leadership
Differentiation
Stuck in the middle
Focus
18. ----------- involves increasing----------.
Job enrichment; job variety
Job enlargement; job depth
Job enlargement; job scope
Job enrichment; job feedback
19. ---------- are an organization's objectives, and --------- are the documented ways that organizations
intend to meet those objectives.
Goals; plans
Stated goals; real goals
Standing plans; single-use plans
Specific plans; directional plans
20. Which of the following is NOT one of the characteristics of well-designed goals?
Goals should be written in terms of actions rather than outcomes.
Goals should be measurable and quantifiable.
Goals should be challenging but attainable.
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Goals should be communicated to all organizational members who need to know about
them.
► Work specialization, departmentalization, chain of command, and span of control are ----------- f
an organization that managers may be able to change.
technologies
human resources
strategies
structural components
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QUIZ
(1) When we classify managers according by their level in the organization they are
described as _______.
.Functional, staff and line managers
Top managers, middle managers and supervisors
High level and lower level managers
General Managers and administrative managers
(2) All of the following are primary management functions except _______.
Setting goals
Hiring employees
Monitoring activities
Motivating employees
(3) A manager is someone who
Actually performs the service or produces the product.
Works anonymously behind the scenes.
Sets the goals of the organization.
Who supervises the work of others.
(4) A manager who has a reputation for being open and honest and understands how to motivate
employees and customers is said to have good ________ skills.
Sales
Political
Interpersonal
Technical
(5) Which of the following is not the branch of quantitative management?
Operations Research
Project Management
Management Information System
Operations management
(6) The ____________ performs symbolic legal or social duties.
Figurehead
Monitor
Liaison
Leader
(7) The concept of organizational performance was analyzed by ___________
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Henry Mintzberg
.Peter Drucker
Adam Smith
Max Weber
(9)___________ Plans specify the details on how overall objectives are to be achieved.
Tactical
Strategic
Long term
Operational
(11) Vertical thinking is ___________ but only in one direction
Logical
Rational
Illogical
None of the above
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QUIZ
Choose the most appropriate option.
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► An ________________is the purchase of all or part of one organization by another.
merger
Concentration
Acquisition
Joint venture
► A _____________is a mean whereby an organization that is unable to pay its debts can seek court
protection from creditors and from certain contract obligations while it attempts to regain financial stability.
Bankruptcy
Divestiture
Harvest
Liquidation
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QUIZ
1) The person most closely associated with bureaucratic management is
Adam Smith
Frederick Taylor
Frank Gilbreth
Max Weber
2) Which of the following characteristics is NOT related to bureaucratic management?
Bureaucratic
Contingency
Administrative
Scientific
4) For his fast-food restaurant, Bob Stevens recruits labor with different skills for different
jobs. This approach is characteristic of
rationality
impersonality
division of labor
hierarchical structure
5) The divine right of kings is characteristic of what type of authority?
Traditional
Charismatic
Rational-legal
Neoclassical
6) An important emerging skill for future managers is
computer literacy
media management
international politics
human resources
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7) In what specific sequence do managers perform their functions to help achieve company
goals?
Controlling
Directing
Organizing
Planning
9) Which managerial role is the simplest and most basic?
Decisional
Figurehead
Stakeholder
Spokesperson
10) Which of the following sets of managerial roles classify Mintzberg's ten most common
roles of managers?
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QUIZ
► The greater the uncertainty, the more plans should be of the _____
variety.
long-term
short-term
intermediate in length
rigid
► What types of goals produce higher levels of output?
goals of moderate difficulty
generalized goals such as "do your best"
specific, hard goals
easy goals
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(8) When Gina Wright, Head of Plant Safety brought employees together to
discuss the fire safety procedures at the plant after the fire, she was
performing the following role:
Leader
Disturbance handler
Disseminator
Spokesperson
(10) Getting work done with a minimum effort, expense, or waste is the
definition of __________
management
planning
efficiency
effectiveness
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► A firm pursuing --------------- attempts to gain a competitive advantage primarily by reducing its
economic costs below its competitors.
Differential strategy
Focus Strategy
Stability Strategy
Cost Leadership Strategy
► Mr. Umar undertook a new business of providing internet fiber cables to corporations and homes
by investing Rs. 1000000 and assumes some accountability for the inherent risks. We can say
that Mr Umar is an
Entrepreneur
Intrapreneur
Innovator
Risk taker
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► ---------------is the downward transfer of formal authority from superior to subordinate. The
employee is empowered to act for the supervisor, while the supervisor remains
accountable for the outcome.
Accountability
Delegation
Authority
None of the given options
► ---------------is an environmental condition that offers significant prospects for
improving an organization’s situation relative to competitors.
Threat
Weakness
Strength
Opportunity
► All the organizations make --------------- that are also called large scale action plans for
interacting with the environment in order to achieve long-term goals.
Policies
Plans
Strategies
Rules
► Mr. Amir is the Chief Executive officer of ABC Company. All of his subordinates
coordinate with him in order to achieve organizational goals. The type of coordination
they have with one an other is called:
Vertical Coordination
Horizontal Coordination
Flat coordination
All of the given options
► In ABC Company, middle level managers are also given the authority
to give
their opinion in decision making process. It is called as:
Centralization
Decentralization
Span of control
Downsizing
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QUIZ
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commitment to the group instead of frequent personal exchange and
face-to-face meetings.
Virtual
Cross-functional
Transnational
Self-managed
► High-performing teams have members who possess both technical
and _____ skills.
Managerial
Technological
Interpersonal
Nonconformity skills
► A group that engages in collective work that requires joint effort
and generates a positive synergy is a ______.
Work group
Work team
Quality circle
Functional team
► _____________ is/are the combination of psychological traits that
characterize a person.
Perceptions
Norms
Personality
Values
5. After having a very bad experience waiting on line for 3 hours at the
Motor Vehicles Bureau, Gretchen tells her father, “In the future, I am
going to renew my license on the website and am never going back to
wait on that long line again.” This is an example of which component
of an attitude?
The cognitive component
The affective component
The behavioral component
The conceptual component
7. Which of the following essentially attempts to determine
which
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applicant, if hired, will be successful?
Selection process
Human resource inventory report
Recruitment
Strategic human resource planning
8. _________ involves the delegation of decision-making and
authority to lower levels in the organization.
Decentralization
Departmentalization
Specialization
Centralization
9. ____________ is a potential disadvantage of the matrix
structure.
Inefficient use of scarce resources
Lack of flexibility
Conflict between product and functional managers
Development of cross-functional skills by employees
10. __________ is the ability to influence the behavior of other
people because of one's capacity to offer rewards or other
desirable outcomes.
Legitimate power
Expert power
Coercive power
Reward power
11. Martin is the physician who heads the Critical Care Unit at
Mercy Hospital, the most important roles that he performs
probably
__________ roles.
Monitor
Decisional
Figurehead
Disseminator
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