Tag: organisation of commerce and management

Questions Related to organisation of commerce and management

_________ is concerned with the withdrawal of State from an industry or sector, partially or fully.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. Liberalization

  2. Modernization

  3. Privatization

  4. Globalization

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Correct Option: C
Explanation:

Privatization refers to giving greater role to private sector and reducing the role of public sector through disinvestment of public sector and dilution of stake of the government. Privatization results in better economic development due to more resources from private sector, better management due high competition in private sector and encouragement of entrepreneurial skills into the individual.

Early identification of opportunities do not help an enterprise to exploit opportunities.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. False

  2. True

  3. Partly true

  4. None of above

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Correct Option: B
Explanation:

True. 

Early identification of business opportunities do not help these business to exploit them but an efficient plan where the strength of the business is perfectly utilized in order to exploit such opportunity. 

______ aims at integrating our national economy with that of the world.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. Globalization

  2. Liberalization

  3. Privatization

  4. Diverstment

Show answer
Correct Option: A
Explanation:

Globalization refers to the integration of various economies of the world by removing of strict policies in regard to the import and export of goods and services and foreign direct investments. Globalization involves greater interaction and interdependence among the various nations of the global economy which makes the market very vast. 

identification of possible treats helps in taking corrective and improving measures to survive the competition.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. False

  2. True

  3. Partly true

  4. None of above

Show answer
Correct Option: B
Explanation:

Identification of possible treats in the business helps the management to come up with a back up plan that possess taking corrective and improving measures in order to survive in the tough competition. 

______ which has become a universal trend,means transfer of ownership and/or management of an enterprise from the public sector to the private sector.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. Globalization

  2. Privatization

  3. Liberalization

  4. All of above

Show answer
Correct Option: B
Explanation:

Privatization refers to giving greater role to private sector and reducing the role of public sector through disinvestment of public sector and dilution of stake of the government. Privatization results in better economic development due to more resources from private sector, better management due high competition in private sector and encouragement of entrepreneurial skills into the individual.

The income of a profession is called ________.

organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

  1. wage

  2. salary

  3. fee

  4. profit

Show answer
Correct Option: C
Explanation:

Fee- a payment made to a professional person or to a professional or public body in exchange for advice or services

Capital rationing is applied in a situation where ________________________.

organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

  1. It is difficult to bring in required amount of capital

  2. Financial institutions are doubtful or not sure of the viability of the project

  3. A large number of investment proposals compete for limited funds

  4. The dividend is converted into capital for completion of a new project

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Correct Option: C

If stock turnover ratio is $4$ times and the collection period is $30$ days, the operating cycle would be _________.

organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

  1. 30 days

  2. 60 days

  3. 90 days

  4. 120 days

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Correct Option: A

The profession of a secretary is one of the oldest professions in the world.

organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

The profession of a secretary is one of the oldest profession in the world. In ancient times important persons like Kings, Emperors, Businessmen etc. appoint the secretary to carry out their routine work like letter writing and keeping records of important events, matters etc. In addition to this certain confidential duties also were assigned to him.

(i) The term secretary is derived from the Latin word `Secretarius' which means a confidential writer. 
(ii) In the old Roman empire a secretary was called `Scribae' which means professional letter writer. 
(iii) In ancient Indian literature and historical documents the words like 'Amatya!, `Sachiva' and 'Chitnis' were used for a secretary. 
(iv) In ancient times, important persons like kings, emperors, businessmen, etc. appointed Vazirs to carry out their routine work like letter writing and keeping records of important events, matters and confidential matters. 
(v) It is as old as the human civilization. 
(vi) Thus, the profession of a secretary is one of the oldest professions in the world. 

A __________ secretary is the oldest type of secretary.

organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

  1. Company

  2. Personal

  3. Government

  4. Private

Show answer
Correct Option: B
Explanation:

A personal secretary is the oldest type of secretary as old as human civilization