Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. The final step of the strategic management process is ___________.
a. Doing an internal analysis
b. Formulating strategies
c. Implementing strategies
d. Evaluating results
Q. A/An ________ is a formal evaluation of an organization's financial statements, performed either by anoutside accounting firm or by an internal department.
a. Revenue operating budget
b. Incident log
c. Financial audit
d. Balance sheet budget
Q. In a PERT network, slack time is _____.
a. The end point that represents the completion of a major activity
b. The time or resources required to progress from one event to another
c. The amount of time an individual activity can be delayed without delaying the whole Project
d. The longest or most time-consuming sequence of events and activities
Q. Which type of decision making is carried out by lower level management and deals with specific dayto-day processes?
a. Programmed decision making
b. Operational decision making
c. Administrative decision making
d. Mid-level decision making
Q. ___________ involves allocating resources by detailing what activities haveto be done, the order inwhich they are to be completed, who is to do each,and when they are to be complete(d)
a. Benchmarking
b. Budgeting
c. Scheduling
d. Competitor intelligence
Q. A problem solver is a style of problem solving reflected by the manager
a. Who confronts the problem, reacts to it, and makes those changes necessary solve it.
b. Who notices a problem and does not react.
c. Who actively looks at situations, searching for problems or anticipating possible problems so that corrective action can be taken before the problem grows.
d. None of the above
Q. The process by which a sender transmits content is known as
a. Encoding
b. Decoding
c. Feedback
d. Receiver
Q. When a subordinate or lower level manager passes information or offers suggestions to higher levelmanagement, they're using which level of communication?
a. Upward communication
b. Downward communication
c. Lateral communication
d. Diagonal communication
Q. If a solution to a particular problem is not vital to the functioning of an organization and management is willing to overlook the causes of the conflict, managers may choose to use which type of conflict resolution?
a. Confrontation
b. Avoidance
c. Dominance
d. Compromise
Q. Which of the following statements would a Theory X manager consider to be true?
a. The average person can learn to accept and even seek responsibility
b. Employees will shirk responsibility
c. Employees will exercise self-direction if they are committed to the objectives
d. Employees view work as being as natural as play
Q. A short letter written to a potential employer with a resume attached is known as a
a. Introduction letter
b. Cover letter
c. Interview letter
d. Ice-breaker letter
Q. _________ is the process of getting results accomplished through others.
a. Ordering
b. Mandating
c. Delegating
d. Working
Q. What is the term used to define the number of subordinates directly controlled by a manager?
a. Division management
b. Departmentation
c. Investment span
d. Span of management
Q. Which management theorist is responsible for the motivation-hygiene theory?
a. Abraham Maslow
b. Dale Hawthorne
c. Peter Drucker
d. Frederick Herzberg
Q. What kind of organizational structure combines a vertical chain of command with horizontal reportingrequirements?
a. Line authority
b. Matrix
c. Functional
d. Line-and-staff