Super Sure MCQs On ManagementCommerce PART 16

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MANAGEMENT/COMMERCE
PART - 16
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Which among the following is the correct formula for testing a
sample by the Chi-square test?
Options:
A. Summation of (E-O)2/ E
B. Summation of (O-E)2/ O
C. Summation of (E-O)2/ O
D. Summation of (O-E)2/ E
Correct Option/Answer: (d) Summation of (O-E)2/ E
Explanation:
The formula to test a sample by the Chi-square test is as follows:
Summation of (O-E)2/ E
Where, O stands for observed frequency and E stands for expected
frequency. It is used in calculating the goodness of fit.
Statement I: The numbers of trials under binomial distribution are independent of
each other.
Statement II: The probability of success is determined by p, while the probability
of failure is determined by (1-p).
Options:
(a) Statement I is correct, but statement II is incorrect

(b) Statement II is correct, but statement I is incorrect
(c) Both statements are correct
(d) Both statements are incorrect
Correct Option/Answer: (c) Both statements are correct
Explanation: Both statements are correct as the numbers of trials

under binomial distribution are independent of each other. The
probability of success is determined by p, while the probability of
failure is determined by q = (1-p).
Which of the following comprises non-probability sampling?
1. Quota Sampling
2. Snowball Sampling
3. Cluster Sampling
4. Convenience Sampling
Options:
(a) 2 and 4
(b)1 and 4
(c) 1, 3 and 4
(d) 1, 2 and 4
Correct Option/Answer: (d) 1, 2 and 4
Explanation: The non-probability sampling technique comprises of the following:
1. Convenience Sampling
2. Judgement Sampling
3. Quota Sampling
4. Snowball Sampling
Probability sampling techniques consists of the following:
1. Simple Random Sampling
2. Stratified Sampling
3. Cluster Sampling
4. Systematic Sampling
5. Multistage Sampling
Which of the following modules of ERP handles the methods and
procedures of collecting raw material?
Options:
A. Sales and Marketing

B. Purchase
C. Human Resource
D. Inventory
Correct Option/Answer: (b) Purchase
Explanation: Under Enterprise Resource Planning, the purchase

module handles all the methods and procedures that are related to
the process of collecting raw materials or items in the organisation.
The ERP Modules include supply chain management, sales and
marketing, purchase, human resource, inventory and finance and
accounting.
Statement I: Under group layout, team attitude and job
enlargement tend to occur.
Statement II: Under process layout, specialised supervision is not
possible.
Options:
Correct Option/Answer: (b) Statement I is correct, but statement II
is incorrect
Explanation: Statement one is correct as under group layout, team

attitude and job enlargement tend to occur. Statement two is
incorrect as under process layout, specialised supervision is possible.
Assertion (A): SOT helps in delay delivery and the generation of cash.
Reason (R): Liquidity is maintained under SOT as cash might stick at jobs that are
long and do not generate cash.
Codes:
(a) (A) and (R) are correct and (R) is the correct explanation of (A)
(b) (A) and (R) are correct but (R) is not the correct explanation of (A)
(c) (A) is incorrect, but (R) is correct
(d) (A) is correct, but (R) is incorrect
Correct Option/Answer: (c) (A) is incorrect, but (R) is correct
Explanation: Assertion is incorrect as the Shortest Operation in Time

(SOT) helps in quick delivery and generation of cash as liquidity is
maintained under SOT considering the cash might stick at jobs that
are long and do not generate cash. Therefore, the reason is correct
but the assertion is incorrect.
Statement I: International business provides the potential for growth in foreign
countries that helps in attaining higher profits.
Statement II: International business helps in removing the constraints of the
domestic market.
Options:

Correct Option/Answer: (c) Both statements are correct
Explanation: Both statements are correct as an international

business provides the potential for growth in foreign countries,
which helps in attaining higher profits. International business helps
in removing the constraints of the domestic market.
Which among the following state(s) are the advantages of
international business?
Options:
(a) Benefit to consumers

(b) Over specialisation
(c) Both (a) and (b)
(d) Can lead to starvation
Correct Option/Answer: (a) Benefit to consumers
Explanation: The advantages of international business include the

following:
1. Import of goods which the country is not able to produce
2. Maximum utilisation of resources
3. Benefit to consumers
4. Trade fluctuations are removed
5. International trade brings goodwill and peace among nations
6. Surplus produce is utilised
Who among the following developed the theory of factor
endowment?
Options:
(a) Raymond Vernon

(b) Heckscher-Ohlin
(c) David Ricardo
(d) Adam Smith
Correct Option/Answer: (b) Heckscher-Ohlin
Explanation: The international trade theory of factor endowment is

developed by Heckscher-Ohlin, the product life cycle theory was
developed by Raymond Vernon. The theory of comparative cost is
given by David Ricardo. The theory of absolute advantage is given by
Adam Smith.
Which among the following is/are the type(s) of foreign investment?
Options:
(a) FDI
(b) FPI
(c) FII
(d) All of the above
Correct Option/Answer: (d) All of the above
Explanation: The types of foreign investment are as follows:

1. Foreign Direct Investment (FDI)
2. Foreign Portfolio Investment (FPI)
3. Foreign Institutional Investment (FII)
What is meant by foreign direct investment FDI?
A foreign direct investment (FDI) is an investment made by a firm or individual in
one country into business interests located in another country.
Generally, FDI takes place when an investor establishes foreign business
operations or acquires foreign business assets in a foreign company.
A foreign direct investment is an investment in the form of a controlling ownership

in a business in one country by an entity based in another country. It is thus
distinguished from a foreign portfolio investment by a notion of direct control.
What is a foreign portfolio investment?
Foreign portfolio investment (FPI) consists of securities and other financial assets
held by investors in another country. It does not provide the investor with direct
ownership of a company's assets and is relatively liquid depending on the volatility
of the market.
A foreign portfolio investment is a grouping of assets such as stocks, bonds, and

cash equivalents. Portfolio investments are held directly by an investor or
managed by financial professionals.
What is FDI FII?
It can come in two forms: foreign direct investment (FDI) and foreign institutional
investment (FII). Foreign direct investment involves in direct production activities
and is also of a medium- to long-term nature. But foreign institutional investment
is a short-term investment, mostly in the financial markets.
A foreign institutional investor (FII) is an investor or investment fund investing in

a country outside of the one in which it is registered or headquartered. The term
foreign institutional investor is probably most commonly used in India, where it
refers to outside entities investing in the nation's financial markets.
Foreign Portfolio Investment (FPI) is similar to FDI in a way that this is also direct
investment but investment in only financial assets such as stocks, bonds etc. of a
company located in another country. ... Foreign Institutional Investor (FII) is an
investor of group of investors who bring FPIs.
Which among the following state(s) the feature(s) of MIS?
Options:
(a) Manages Data

(b) Operation Control
(c) Structural Decisions
Explanation: The features of Management Information System (MIS) are as

follows:
1. Summary Information
2. Operation Control
3. Focus on Internal Information
4. Manages Data
5. Structural Decision
Which among the following documents under import documentation is
prepared by the importer in the prescribed form under the Bill of Entry
Regulations, 1971?
Options:
(a) Certificate of Measurement

(b) Freight Declaration
(c) Transport Documentation
(d) Bill of Entry
Correct Option/Answer: (d) Bill of Entry
Explanation: Bill of entry is a document that is prepared by a clearing agent or an

importer in the form prescribed under the Bill of Entry Regulation, 1971. The
import duty is paid by the importer and such details are provided in the
document. Therefore, option (d) is correct.
Statement I: Export Promotion Capital Good (EPCG), Duty Entitlement Passbook
Scheme (DEPB), Market Development Assistance (MDA) are incentives and
schemes for exports.
Statement II: Companies that have exports up to Rs 40 crore are eligible for MDA
assistance.
Options:

Correct Option/Answer: (a) Statement I is correct, but statement II is incorrect
Explanation: Statement one is correct as Export Promotion Capital Good (EPCG),

Duty Entitlement Passbook Scheme (DEPB), and Market Development Assistance
(MDA) are incentives and schemes for exports. Statement two is incorrect as
companies that have exports up to Rs 30 crore are eligible for MDA assistance.
Export Promotion Capital Goods (EPCG) scheme allows import of capital goods
including spares for pre production, production and post production at zero duty
subject to an export obligation of 6 times of duty saved on capital goods imported
under EPCG scheme, to be fulfilled in 6 years reckoned from Authorization issue.
DEPB (Duty Entitlement Pass Book ) is an export incentive scheme of Indian

Government provided to Exporters in India. Duty Entitlement Pass Book Scheme
(DEPB) is an export incentive scheme. The objective of DEPB is to neutralise the
incidence of Customs duty on the import content of the export product.
What is market development assistance scheme?
A Market Development Assistance Scheme is currently operated by the Ministry
of Commerce with a view to encourage exporters (including MSME exporters) to
access and develop overseas markets. The scheme offers funding for participation
in international fairs, study tours abroad, trade delegations, publicity, etc.
Assertion (A): IMF has an objective that it shorter the duration and controls the
disequilibrium in BOP.
Reason (R): The exchange stability is promoted and international monetary
cooperation is promoted.
Codes:
(c) Both (A) and (R) are incorrect
Correct Option/Answer:
Explanation: Both assertion and reason are correct but reason doesn’t explain the
assertion as the two statements given above are the objectives of IMF. IMF has
the objective that it shorter the duration and controls the disequilibrium in BOP.
The exchange stability is promoted and international monetary cooperation is
promoted.
Assertion (A): DSS enhances the procedure of making decisions at the enterprise
and managerial level.
Reason (R): Decisions are of two types, namely programmable and non-
programmable. The programmable decisions are computerised while the non-
programmable decisions are predetermined.
Codes:
Correct Option/Answer: (d) (A) is correct, but (R) is incorrect
Explanation: DSS enhances the procedure of making decisions at the enterprise

and managerial level. The decisions are of two types, namely programmable and
non-programmable. The programmable decisions are computerised while the
non-programmable decisions are not predetermined.
Therefore, option (d) is the correct answer.
Which of the following types of entrepreneurs are not open to change or
creativity?
Options:
(a) Drone entrepreneur

(b) Fabian entrepreneur
(c) Induced entrepreneur
(d) Cognitive entrepreneur
Correct Option/Answer: (a)Drone entrepreneur
Explanation: The word entrepreneur is derived from a French word that means “to
undertake.” Drone entrepreneurs are people who are not open to creativity or
change. Such people are not very successful as they continue following traditional
methods.
Assertion (A): The theory of model personality is developed byCocharn and is a
social theory of supply of entrepreneurs.
Reason (R): Emphasis is placed on role expectation, cultural values and social
sanctions.
Codes:
Correct Option/Answer: (a) (A) and (R) are correct and (R) is the correct
explanation of (A)
Explanation: The theory of model personality is developed by Cocharnand is a

social theory of supply of entrepreneurs. Emphasis is placed on role expectation,
cultural values and social sanctions.
Therefore, both assertion and reason are correct and the reason correctly explains
the assertion.
Assertion (A): The person that has a clear vision and is action-oriented is known
as an intrapreneur.
Reason (R): The intrapreneurial grid developed by Pinchot states that a person
with high action and low vision is an ideal generator but a person with high action
and high vision is intrapreneur.
Codes:
Correct Option/Answer: (d) (A) is correct, but (R) is
incorrect
Explanation: The assertion is correct because the person who is action- oriented
and has a high vision is known as an intrapreneur. The reason is incorrect as the
intrapreneurial grid developed by Pinchot states that a person with high action
and low vision is a valuable worker but a person with high action and high vision is
an intrapreneur. Therefore, option (d) is the correct answer.
Question: ___________ specifies the overall framework and the
specific procedures for collecting and analysing the data.
Options:
(a) Research methodologies

(b) Research design
(c) Research data
(d) Research type
Correct Option/Answer: (b) Research design
Explanation: Research design is a step in the research process that specifies the
overall framework and the specific procedures for collecting and analysing the
data. Research designs can be classified based on functions or methodologies
Question: Which of the following is not a mode of traditional
marketing?
Options:
(a) Personal selling

(b) Online marketing
(c) Brand management
(d) Both (a) and (b)
Correct Option/Answer: (d) Both (a) and (b)
Explanation: Traditional marketing is a marketing concept in which the internet

and modern technologies are not used for performing the marketing functions.
Traditional marketing can be of various types, such as personal selling, direct or
door-to-door marketing, fax, print media, etc.
Question: Which of the following is/are the objective/objectives of
the plant layout?
Options:
(a) To improve productivity

(b) To reduce health hazards
(c) To make easy supervision
Explanation: Plant layout has various objectives, such as improving productivity,

using available space, using the equipment and employees efficiently and
effectively, improving the flow of materials, improving production capacity,
providing volume flexibility, etc.
Question: Identify the factors of process design decision.
Options:
(a) Nature of product

(b) Level of product
(c) Nature of demand
Explanation: The factors of process designs may include the nature of the product,
nature of service, nature of demand, degree of vertical integration, level of
product, level of quality, degree of automation, volume flexibility, product fitness
and service quality.
Question:
Assertion (A): In regression analysis, the pattern of the relationship is studied
along with the closeness of the relationship, in absolute terms
Reason (R): The prominence is on determining whether the variables move in the
same or opposite direction and the extent of the relationship between the two
variables.
Options:
(a) (A) and (R) are true and (R) is the correct explanation of (A)
(b) (A) and (R) are true but (R) is not the correct explanation of (A)
(c) (A) is false, but (R) is true
(d) (A) is true, but (R) is false
Correct Option/Answer: (b) (A) and (R) are true but (R) is not the
correct explanation of (A)
Explanation: The first statement defines regression analysis, which explains that
the pattern of the relationship and the closeness of the relationship are studied in
absolute terms, whereas the second statement defines the correlation analysis.
Therefore, both statements are correct but the reason is not a correct explanation
of the assertion.
Question: Identify the elements of total quality management.
Options:
(a) Supplier quality

(b) Continuous improvement
(c) Supplier partnership
Explanation: Total quality management is the process that considers

all the aspects of production to ensure a quality improvement of the
products produced. It has various elements, such as supplier quality,
supplier partnership, continuous improvement, etc.
Question: Which of the following is used for the acceptance
sampling of attributes?
Options:
(a) Single sampling plan

(b) Double sampling plan
(c) Multiple sampling plans
Explanation: Acceptance sampling is a type of statistical quality control technique

that is classified as acceptance sampling for variables and acceptance sampling for
attributes. Acceptance sampling for attributes is of three types i.e. single sampling
plan, double sampling plan and multiple-sampling plans.
Question: Multiple sampling plans are also known as _______.
Options:
(a) sequential sampling plan

(b) continuous sampling plan
(c) random sampling plan
(d) None of the above
Correct Option/Answer: (d) None of the above
Explanation: In multiple sampling plans, several samples are taken until the
rejection or acceptance decision about the lot is reached. The multiple sampling
plan is also known as an m-stage sampling plan as is based on several samples.
Question: What is the purpose of ISO 14000?
Options:
(a) Quality management

(b) Quality assurance standards
(c) Environment-related aspects
Correct Option/Answer: (c) Environment related aspects
Explanation: ISO is an abbreviation used for International Organisation for

Standardisation, which is an organisation responsible for setting standards. ISO-
14000 is the family of standards that are related to the environmental aspects.
Question: Which of the following items are considered while computing the
EOQ?
Options:
(a) Variable and direct cost

(b) Holding and indirect cost
(c) Ordering and direct cost
(d) Holding and ordering cost
Question: Identify the function for which the Kilbridge and Wester method of
balancing assembly lines is used.
Options:
(a) Production planning

(b) Financial planning
(c) Demand forecasting
(d) Inventory planning
Correct Option/Answer: (a) Production planning
Explanation: Kilbridge and Wester method of balancing assembly lines is the most
efficient method used in the production planning to develop the most efficient of
the capacities and flows of the production or assembly processes.
Question: Identify the types of probability distribution.
Options:
(a) Exponential
(b) Binomial distribution
(c) Poisson distribution
Explanation: Probability distribution is a model for the relative frequencies of a

finite number of observations of a variable. It can be of four types i.e. binomial
distribution, Poisson distribution, normal distribution and exponential.
Question: Which of the following is NOT a secondary data?
Options:
(a) Reports of IBRD

(b) Indirect Oral Investigation
(c) Published data
(d) Bank bulletin
Correct Option/Answer: (b) Indirect Oral Investigation
Explanation: There are two types of data collection methods on which statistical
techniques are applied i.e. primary data and secondary data. Primary data
collection refers to first-hand data, such as investigation, interviews,
questionnaires, etc. Secondary data are published data, such as reports from
governments, international publications and semi-government publications.
Question: Which of the following is NOT a non-probability
sampling method?
Options:
(a) Convenience sampling

(b) Quota sampling
(c) Cluster sampling
(d) Judgement sampling
Correct Option/Answer: (c) Cluster sampling
Explanation: Sampling is a process in which the sample is selected from a vast

population to conclude the results. Sampling can be of two types i.e. probability
sampling and non-probability sampling. Probability sampling includes cluster
sampling, random sampling, stratified sampling, multi-stage sampling.
Question: What does the graph depict?
(a) Perfect positive correlation

(b) Perfect negative correlation
(c) Limited correlation
(d) No correlation
Correct Option/Answer: (b) Perfect negative correlation
Explanation: Correlation analysis helps in determining the relationship between

two variables. A perfect negative correlation refers to the negative changes in two
variables. No correlation occurs when no effects are developed in one variable
due to changes in another variable.
Question: Which of the following is/are the utility/utilities of correlation
analysis?
Options:
(a) To know the economic behaviour

(b) To find the relationship between 2 variables
(c) It helps in research work
Explanation: Correlations analysis helps in determining the relationship between

two or more variables. Apart from this, the analysis of correlation also helps in
research work, in decision-making and in understanding the economic behaviour
of variables.
Question: Who was the first to apply the term “regression” to statistics?
Options:
(a) Francis Galton

(b) E.S Pearson
(c) Francis Gilbert
(d) Herbert A. Simon
Correct Option/Answer: (a) Francis Galton
Explanation: Regression analysis is a statistical method that depicts the

relationship between two variables in terms of original units. The purpose of
regression is to make predictions. The term was first used by Francis Galton in
statistics.
Question: __________ deals with developing, evaluation and application of facts
and figures leading to expert knowledge.
Options:
(a) Data knowledge

(b) Knowledge engineering
(c) Knowledge volatility
(d) Knowledge variant
Correct Option/Answer: (b) Knowledge engineering
Explanation: Knowledge engineering deals with the development of facts and

figures along with its evaluation or assessment, followed by the application of
such facts and figures that may lead to expert knowledge.
Question: What does the C2B model of e-business include?
Options:
(a) Credit card payment

(b) Cheque deposit
(c) Inquiry processing
Explanation: C2B is an acronym used for consumer to business model, in which

consumers offer goods and services to the e-businesses. It may include credit card
payment, cheque deposit, inquiry processing, seeing manuals, drawings, etc.
Question: Identify the incorrect statement.
Options:
(a) WTO was officially constituted on January 1st, 1992

(b) WTO is a temporary organisation
(c) WTO replaced GATT
Explanation: World Trade Organisation is a permanent organisation that was

officially constituted on 1st January 1995. It is an international organisation
responsible for the facilitation of world trade.
Question: Which of the following is/are the uses of MIS?
Options:
(a) PERT/CPM
(b) Risk analysis models
(c) Operations research models
Explanation: MIS is the abbreviation for management information system, which

refers to the information system that is inbuilt in an organisation to achieve
managerial objectives. MIS is used in controlling PERT/CPM, Risk analysis models
and operations research models.
Question: AMS stands for_________.
Options:
(a) Average Mark-up System

(b) Attendance Management System
(c) Attendance Mark-up System
(d) All Marketing System
Correct Option/Answer: (b) Attendance Management System
Explanation: AMS is the acronym used for attendance management system, which
is a system used for keeping records of employee’s working hours and their
attendance. This system is beneficial for determining the time that the employees
take as off from work.
Question: Match the items in list 1 with the items in list 2 and select the code of correct
matching.
List 1 List 2
Options: (A) All India Small Scale industries Board (i) 1955
(B) National Small Industries Corporation Ltd. (ii) 1956
(C) State Trading Corporation of India (iii) 1953
(D) Research and Development Corporation (iv) 1954
Codes:
A B C D
(a) iv iii ii i
(b) ii iv i iii
(c) iii i iv ii
(d) i ii iii iv
Correct Option/Answer: (a) iv iii ii i
Question: When did the SICA act come into force?
Options:
(a) 1983
(b) 1984
(c) 1985
(d) 1986
Correct Option/Answer: (c) 1985
Explanation: Sick Industrial Companies Act was introduced in the year 1985 to
serve the sick industries. The BIFR board was developed under SICA in 1985 to
help sick industries to rehabilitate.
Answer the questions from 86 to 90 on the basis of the following case study:
Organisation of the Petroleum Exporting Countries (OPEC) is an organisation that
was formed in Baghdad in the year 1960. The founding members of the
organisation were Iran, Iraq, Kuwait, Venezuela and Saudi Arabia. It aims to
control the prices and production of petroleum so that the interest of oil-
exporting countries can be protected. It also aims to earn maximum prices for the
oil from the importing countries. The country that can export oil can become a
member of OPEC. Ecuador withdrew its membership in 1992 then it rejoined in
October 2007. It has again decided to withdraw from OPED, which will be effective
from 1st January 2020.
Currently, the organisation has thirteen members since 2019, when Qatar
terminated its membership. Congo was the last member country to join OPEC in
2018.
Question: How many countries signed the agreement during the
OPEC foundation in 1960?
1. 5
2. 6
3. 4
4. 3
Correct Option/Answer: (a) 5
Explanation: The OPEC was founded in 1960 after signing an agreement. This
agreement was signed by its founding members, such as Iran, Iraq, Kuwait,
Venezuela and Saudi Arabia. They were 5 in number.
Question: Identify the purpose of OPEC.
1. To control the price and production of petroleum

2. To get maximum prices from oil importers
3. To maximise oil trade among the countries
4. Both (a) and (b)
Explanation: Organisation of the Petroleum Exporting Countries was formed to

control the production and prices of petroleum and also to get maximum prices
for their oil from importing countries.
Question: Which of the following countries withdrew its
membership in 1992?
Options:
(a) Ecuador
(b) Congo
(c) Qatar
(d) Kuwait
Correct Option/Answer: (a) Ecuador
Explanation: Ecuador withdrew its membership in 1992 but rejoined in October

2007. However, it has again decided to withdraw from OPED, which will be
effective from 1st January 2020.
Question: When was OPEC formed?
Options:
(a) 1960
(b) 1972
(c) 1992
(d) 1980
Correct Option/Answer: (a) 1960
Explanation: The Organisation of the Petroleum Exporting Countries was formed

in September 1960 in Baghdad, Iraq.
Question: Which of the following countries was the last member to
join OPEC till 2020?
Options:
(a) Venezuela
(b) Qatar
(c) Kuwait
(d) Congo
Correct Option/Answer: (d) Congo
Explanation: OPEC was founded in 1960, Ecuador was the first to join
it and Congo joined it in the year 2018, which is the latest till 2020.
Question:
Assertion (A): Corporate level strategies explain the decisions related to resource
allocation among different businesses, transfer of resources from one place to
another and managing the business portfolio.
Reason (R): It deals with the selection of a direction that a firm adopts to achieve
its objectives.
Codes:
(a) (A) and (R) are true and (R) is the correct explanation of (A)
(b) (A) and (R) are true but (R) is not the correct explanation of (A)
(c) (A) is false but (R) is true
(d) (A) is true but (R) is false
Correct Option/Answer: (a) (A) and (R) are true and (R) is the correct explanation
of (A)
Explanation: Both statements explain the corporate-level strategy. Corporate level

strategies explain the decisions related to resource allocation among different
businesses, transfer of resources from one place to another and managing the
business portfolio. It deals with the selection of a direction that a firm adopts to
achieve its objectives.
Question: Which of the following is a factor of entrepreneurship development?
Options:
(a) Procedure for identifying entrepreneurs

(b) Training and motivating system
(c) Economic and business environment
Explanation: Entrepreneurship development helps the entrepreneur in developing

their skills by providing them with training. Entrepreneurship development factors
may include mechanisms for identifying entrepreneurs, training and motivating
systems and economic and business environments.
Question: What type of factors may cause industrial sickness?
Options:
(a) Only external factors

(b) Only internal factors
(c) Both external and internal factors
(d) None of the above
Correct Option/Answer: (c) Both external and internal factors
Explanation: Small scale industries may become sick due to both internal and
external factors. Internal factors include poor management, lack of control, lack of
access to raw material, etc, whereas external factors include industry-specific
factors, government-related factors and other factors related to the external
business environment.
Question: ECGC stands for______.
Options:
(a) Export Credit Guarantee Corporation

(b) Extreme Credit Grant Corporation
(c) Extreme Credit Guarantee Council
(d) Export Credit Grant Corporation
Correct Option/Answer: (a) Export Credit Guarantee Corporation
Explanation: ECGC is the acronym used for Export Credit Guarantee

Corporation, which is an organisation that was founded in the year
1957 to provide export credit insurance to the Indian exporters. It is
regulated by the Ministry of Commerce.
Question: Which of the following is/are the essentials of business
ethics?
Options:
(a) Based on moral values

(b) Code of law of an organisation
(c) It is higher than the social interest
Explanation: Business ethics can be referred to as the right or wrong behaviour of

business in any business decision. Its essentials may include: it is a part of social
responsibility, it is the code of law in an organisation, business ethics are higher
than the social interest, it is based on moral and social-cultural values, etc.
Question: Identify the possible areas in which corporate social
objectives can be found, as per Brummet.
Options:
(a) Net income contribution

(b) Public contribution
(c) Human resource contribution
Explanation: Five possible areas were suggested by Brummet in which corporate

social objectives can be found, namely public contribution, net income
contribution, human resource contribution, environmental contribution and the
product and service contribution
Question: NABARD stands for __________.
Options:
(a) National Bank for Agricultural and Rural Development

(b) Net Banking for Agricultural and Rural Development
(c) Net Balance in Accounts and Reserves in District
(d) Net Banking of Amount and Reserves in Districts
Correct Option/Answer: (a) National Bank for Agricultural and Rural Development
Explanation: NABARD stands for National Bank for Agricultural and Rural
Development. It was found in 1982 and is situated in Mumbai. The purpose of the
bank is to provide development assistance and reduce the poverty level.
Question: Determine the phases of organisational change.
Options:
(a) Planning
(b) Monitoring
(c) Strategies
Explanation: Organisational change is the change that can be brought about in an

organisation’s activities and operations. It can be done in various ways; some of
them include planning, monitoring, strategies and processes.
Question: Identify the reason/s that may lead to entrepreneurship failure.
Options:
(a) Poor management

(b) High fixed cost
(c) Insufficient sales force
Explanation: An entrepreneur is a person who undertakes the whole business risk

to run the business. However, the efforts of the entrepreneur may lead to failure if
issues related to high fixed cost, poor management, raw material quality, and
insufficient sales force prevail.
Question: Which of the following criteria of small scale industries indicate that it is
an incipient to sickness or potential to sickness?
Options:
(a) Capacity utilisation is less than 50 percent during the preceding 5 years
(b) Capacity utilisation is not more than 10 percent during the preceding 5 years
(c) Capacity utilisation is more than 50 percent during the preceding 5 years
(d) Capacity utilisation is less than 70 percent during the preceding 5 years
Correct Option/Answer: (a) Capacity utilisation is less than 50 percent during the
preceding 5 years
Explanation: SICA is an abbreviation for Sick Industrial Companies Act, which was
established to rehabilitate the sick industries. The potential for sickness is
indicated if the capacity utilisation of a firm is less than 50 percent during the
preceding 5 years.
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(a) Statement I is correct, but statement II is incorrect

Explanation: Both statements are correct as the numbers of trials

A. Sales and Marketing

Explanation: Under Enterprise Resource Planning, the purchase

Explanation: Statement one is correct as under group layout, team

Explanation: Assertion is incorrect as the Shortest Operation in Time

(a) Statement I is correct, but statement II is incorrect

Explanation: Both statements are correct as an international

(a) Benefit to consumers

Explanation: The advantages of international business include the

(a) Raymond Vernon

Explanation: The international trade theory of factor endowment is

Explanation: The types of foreign investment are as follows:

A foreign direct investment is an investment in the form of a controlling ownership

A foreign portfolio investment is a grouping of assets such as stocks, bonds, and

A foreign institutional investor (FII) is an investor or investment fund investing in

(a) Manages Data

Explanation: The features of Management Information System (MIS) are as

(a) Certificate of Measurement

Explanation: Bill of entry is a document that is prepared by a clearing agent or an

(a) Statement I is correct, but statement II is incorrect

Explanation: Statement one is correct as Export Promotion Capital Good (EPCG),

DEPB (Duty Entitlement Pass Book ) is an export incentive scheme of Indian

Explanation: DSS enhances the procedure of making decisions at the enterprise

(a) Drone entrepreneur

Explanation: The theory of model personality is developed by Cocharnand is a

(a) Research methodologies

(a) Personal selling

Explanation: Traditional marketing is a marketing concept in which the internet

(a) To improve productivity

Explanation: Plant layout has various objectives, such as improving productivity,

(a) Nature of product

(a) Supplier quality

Explanation: Total quality management is the process that considers

(a) Single sampling plan

Explanation: Acceptance sampling is a type of statistical quality control technique

(a) sequential sampling plan

(a) Quality management

Explanation: ISO is an abbreviation used for International Organisation for

(a) Variable and direct cost

(a) Production planning

Explanation: Probability distribution is a model for the relative frequencies of a

(a) Reports of IBRD

(a) Convenience sampling

Explanation: Sampling is a process in which the sample is selected from a vast

(a) Perfect positive correlation

Explanation: Correlation analysis helps in determining the relationship between

(a) To know the economic behaviour

Explanation: Correlations analysis helps in determining the relationship between

(a) Francis Galton

Explanation: Regression analysis is a statistical method that depicts the

(a) Data knowledge

Explanation: Knowledge engineering deals with the development of facts and

(a) Credit card payment

Explanation: C2B is an acronym used for consumer to business model, in which

(a) WTO was officially constituted on January 1st, 1992

Explanation: World Trade Organisation is a permanent organisation that was

Explanation: MIS is the abbreviation for management information system, which

(a) Average Mark-up System