NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc.: Commerce MCQs (Practice_Test 13 of 99)
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- Which one of the following functions does not relate to O & M Division?
- To enlarge the organization
- To improve organization
- To simplify methods
- To create and maintain an efficient administrative machinery
- Which one of the following statements explains the concept of unity of command?
- All the workers focus on a common goal
- All the workers receive instructions from one authority
- All the workers are accountable to one authority
- All the workers aim at One objective at a time
- An organizational manual is designed to promote
- better clientele for a company
- better relationship between the units in an industry
- better understanding of basic organizational structures
- better information about business of the company
- The psychologist A H Maslow has developed a widely acclaimed conceptual framework for understanding human motivation. Human needs, according to Maslow, tend to follow the classification of five categories of needs given as under
- Egoistic needs
- Safety needs
- Social needs
- Physiological needs
- Self-fulfillment needs
- These needs, according to Maslow, follow a basic hierarchical pattern from the most basic to the highest level needs as follows
- 1, 2,3, 4,5
- 4, 2,3, 1,5
- 5, 4,3, 2,1
- 1, 3,2, 4,5
- Douglas McGregor made five basic assumptions about people in his theory Y. First four assumptions are
- People are ambitious
- They seek responsibility
- They are dynamic
- They recognize and accept organizational goals
- The fifth assumption is
- people are always cooperative and cheerful at their work
- people are not self-centered
- people are by nature resistant to change
- people are intelligent and possess creative potential
- In case of retirement of a partner, the partner՚s loan account would be shown
- in his capital account
- in his wife՚s loan account
- in his loan account
- in the total amount due to him
- As per Garner vs Murray Rule, the loss resulting from a partner՚s. Insolvency, is borne by other partners in
- equal ratio
- their capital ratio
- their profit-sharing ratio
- 3: 1 ratio
- The movement of securities from one stock exchange to another with the object of reaping a profit from the disparity in share prices is called
- Averaging
- Arbitraging
- Backwardation
- Forward trading
- Consider the following statements
- Transfer and transmission of shares are the same thing
- ‘Stag’ is a speculative person who applies for shares in a new issue expected to be over-subscribed to make profit by selling such shares at a premium
- Stock is a bundle of fully paid shares put together for convenience
- Which of the above statements is/are correct?
- 1 and 2
- 2 and 3
- 3 only
- 2 only
- When a company exceeds the powers granted to it by its Memorandum of Association, it is called
- Intra vires
- Ultra vires
- Lien
- Mutatis mutandis
- Consider the following statements: Issue of bonus shares can be made out of the
- General Reserve Account
- Realized Capital Profits Account
- Revaluation Reserve Account
- Profit and Loss Account (Cr.)
- Which of these statements are correct?
- 1 and 4
- 2 and 3
- 1,2 and 4
- 2,3 and 4
- In case the partnership deed does not specify the rights and obligations, the provisions of the Partnership Act, 1932 lay down which of the following rights and duties of a partner?
- Every partner has a right to take part in the conduct and management of the firm՚s business
- Every partner has the right to receive interest on loans and advances made by him to the firm. The rate of interest should be 8% unless otherwise agreed to by the parties
- Every partner has the right to be indemnified for the expenses incurred and losses sustained by him in the firm՚s business
- Select the correct answer using the codesgiven below
- 1 and 3
- 2 only
- 1,2 and 3
- 2 and 3
- Which of the following is not the legal position of sole proprietorship?
- The proprietor and his business have separate personality
- Free from legal formalities in operation
- The liability is unlimited
- Not governed by any Special Act
- Kurt Lewins three phases of organizational change consist of
- unfreezing, changing, feedback
- Changing, refreezing. Feedback
- unfreezing, evaluation, refreezing
- unfreezing, changing, refreezing
- Which one of the following statements is not correct?
- Management by objectives is a philosophy of management
- Management by objectives is an approach of management
- Management by objectives is a process of participative management
- Management by objectives is a control technique