78. _________ means that each section has its own workers to perform activities within the department.

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A. Centralisation
B. Departmentation
C. Decentralisation
D. Delegation
✅ The correct answer is option C.
Decentralisation means that each section has its own workers to perform activities within the department. Decentralisation can be understood as the orderly assignment of authority, throughout the levels of management, in an organisation. It describes the way in which power to take decisions is allocated among various levels in the organisational hierarchy.

1086. The means by which long term objectives will be achieved are

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A. mission statements
B. strategies
C. vision statements
D. long term goals
✅ The correct answer is option B.
The means by which long term objectives will be achieved are strategies. Strategy determines the direction and scope of an organization over the long term, and they say that it should determine how resources should be configured to meet the needs of markets and stakeholders.

1082. What is monopoly power?

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A. When an organization has absolute power in its chosen marketplace
B. When an organization has power over its immediate rivals in its chosen marketplace
C. When an organization has limited power in its chosen marketplace
D. When an organization buys out another organization and assumes power of its share of the marketplace
✅ The correct answer is option A.
When an organization has absolute power in its chosen marketplace is monopoly power. Monopoly power (also called market power) refers to a firm’s ability to charge a price higher than its marginal cost. Monopoly power typically exists where the there is low elasticity of demand and significant barriers to entry.

The following is the permanent records for business

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A. Business letters
B. Ledgers
C. Production reports
D. All of the above
✅ The correct answer is option A.
The following is the permanent records for business letters. A letter written for business purpose is a business letter. Inquiry letter, offer letter, order letter, cover letter, notices, termination of employment are some of the business letters. Suppose a person wants to write any of these business letters.

1117. Rupee amount for required return of investment is subtracted from income to calculate

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A. net income
B. after tax income
C. residual income
D. operating income
✅ The correct answer is option C.
Rupee amount for required return of investment is subtracted from income to calculate residual income. Residual income is excess income generated more than the minimum rate of return. Residual income is a measurement of internal corporate performance, whereby a company’s management team evaluates the income generated relative to the company’s minimum required return.

1114. If actual performance exceeds the expected performance of the product, then customer is _____________.

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A. Satisfied
B. Dissatisfied
C. Delighted
D. Neutral
✅ The correct answer is option C.
If actual performance exceeds the expected performance of the product, then customer is delighted. This can lead to satisfaction among customers. If actual performance exceeds the target performance (positive disconfirmation), it can lead to a particularly large degree of satisfaction among customers (enthusiasm).

Non-competitive bidding of treasury bills also allows participation of

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A. secured investors
B. federal investors
C. small investors
D. large investors
✅ The correct answer is option C.
Non-competitive bidding of treasury bills also allows participation of small investors. Non-competitive bidding means the bidder would be able to participate in the auctions of dated government securities without having to quote the yield or price in the bid.

1105. One traditional depiction of marketing activities is in terms of the marketing mix or four Ps. The four Ps are characterized as being ________.

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A. Product, positioning, place, and price
B. Product, production, price, and place
C. Promotion, place, positioning, and price
D. Place, promotion, production, and positioning
✅ The correct answer is option E.
The four Ps are the product (the good or service), the price (what the consumer pays), the place (the location where a product is marketed), and promotion (the advertising).