Management MCQs

Which component of a mission statement addresses the firms distinctive competence or major competitive advantage?

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A. Technology
B. Philosophy
C. Concern for public image
D. Self-concept
✅ The correct answer is option D.
Self-concept component of a mission statement addresses the firms distinctive competence or major competitive advantage. A mission statement is a short statement of why an organization exists, what its overall goal is, identifying the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation.

Difference between actual variable overhead cost and flexible budget variable overhead amount is termed as

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A. overhead flexible budget variance
B. overhead fixed budget variance
C. overhead flexible cost variance
D. overhead flexible price variance
✅ The correct answer is option A.
Difference between actual variable overhead cost and flexible budget variable overhead amount is termed as overhead flexible budget variance. A flexible budget is a budget that shows differing levels of revenue and expense, based on the amount of sales activity that actually occurs.

__________ is not one of the 7 Cs of communication:

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A. conciseness
B. correctness
C. clarity
D. character
✅ The correct answer is option D.
Character is not one of the 7 Cs of communication. The 7 C’s of Communication is a checklist that helps to improve the professional communication skills and increases the chance that the message will be understood in exactly the same way as it was intended.

Greater exposure bigger the

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A. Investment
B. Spot rate
C. Forward rate
D. Risk
✅ The correct answer is option D.
Greater exposure bigger the risk. Gross exposure is a measure that indicates total exposure to financial markets, thus providing an insight into the amount at risk that investors are taking on. The higher the gross exposure, the bigger the potential loss (or gain).

Cost of particular cost object which cannot be traced in economically plausible way is termed as

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A. indirect cost
B. partial cost
C. benchmark cost
D. direct cost
✅ The correct answer is option A.
Cost of particular cost object which cannot be traced in economically plausible way is termed as indirect cost. Indirect costs are costs used by multiple activities, and which cannot therefore be assigned to specific cost objects.

Selling of products outward home country referred to

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A. imports
B. currency Devaluation
C. exports
D. loans
✅ The correct answer is option C.
Selling of products outward home country referred to exports. Exports are a function of international trade whereby goods produced in one country are shipped to another country for future sale or trade. Exports are a crucial component of a country’s economy, as the sale of such goods adds to the producing nation’s gross output.

Goals help us to ________

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A. Communicate
B. Success
C. Work
D. Motivate
✅ The correct answer is option A.
Goals help us to communicate. Communication is also a tool that helps us achieve certain goals. Therefore, it is important to allow ideas and information to flow clearly and quickly among team members. But the process of transmitting those ideas in the way they don’t lose value defines communication as goal-oriented.

The focus of marketing today is _______.

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A. Value and Satisfaction
B. Quality and Long Term Relationships
C. All of the Above
D. None of the Above
✅ The correct answer is option C.
The focus of marketing today is Value and Satisfaction and Quality and Long Term Relationships. Customer focused marketing is the process of determining customer needs and wants in order to drive the working force behind the company’s products or services.