Management MCQs

In which of the following methods Jobs can be arranged according to the relative difficulty in performing them.

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A. Ranking method
B. Point method
C. Factor comparison method
D. Classification method
✅ The correct answer is option A.
In Ranking method Jobs can be arranged according to the relative difficulty in performing them. Ranking method is one of the simplest performance evaluation methods. In this method, employees are ranked from best to worst in a group. The simplicity of this method is overshadowed by the negative impact of assigning a ‘worst’ and a ‘best’ rating to an employee.

Doing things right and doing the right things are also known as?

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A. Efficiency and effectiveness
B. Strategic competency and congruence
C. Strategic competency and strategy creation
D. Corporate strategy and synergy
✅ The correct answer is option A.
Doing things right and doing the right things are also known as Efficiency and effectiveness. Strategic management decisions that promote efficiency tend to be aimed at reducing the use of resources through maximizing return. Any action taken to reduce inventory waste, for example, would be a strategic management decision aimed at greater efficiency. Management effectiveness can be measured by results. Goals such as increasing market share, improving customer satisfaction ratings and achieving desired revenue levels come under the heading of management effectiveness.

____________ is a plastic card with a built-in microprocessor, used typically to perform financial transactions.

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A. Smart cards
B. Tokens
C. Firewalls
D. Biometrics
✅ The correct answer is option A.
Smart cards is a plastic card with a built-in microprocessor, used typically to perform financial transactions. A smart card is a special type of card like device which contains an integrated circuit chip embedded on it.

Consideration of decreased operating income relative to budgeted amount in static budget is classified as

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A. revenue variance
B. cost variance
C. favourable variance
D. unfavourable variance
✅ The correct answer is option D.
Consideration of decreased operating income relative to budgeted amount in static budget is classified as unfavourable variance. ‘Unfavorable variance’ is an accounting term that describes instances where actual costs are greater than the standard or expected costs.

Which of the following level of managers develop short and medium range plans, schedules, and budgets and specify the policies, procedures, and business objectives for their sub units of the company?

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A. Strategic
B. Tactical
C. Operational
D. Front Line
✅ The correct answer is option B.
Tactical level of managers develop short and medium range plans, schedules, and budgets and specify the policies, procedures, and business objectives for their sub units of the company. A tactic is a method intended to fulfill a specific objective in the context of an overall plan.

In zero coupon bonds, impact of lower duration on maturity is that

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A. maturity will be higher
B. maturity will be lower
C. maturity will be zero
D. maturity will be elastic
✅ The correct answer is option A.
In zero coupon bonds, impact of lower duration on maturity is that maturity will be higher. A zero-coupon bond is a debt security instrument that does not pay interest. Zero-coupon bonds trade at deep discounts, offering full face value (par) profits at maturity. The difference between the purchase price of a zero-coupon bond and the par value, indicates the investor’s return.