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Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Commerce MCQ


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30 Questions MCQ Test Sample Papers for Class 12 Commerce - Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22)

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) for Commerce 2024 is part of Sample Papers for Class 12 Commerce preparation. The Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) questions and answers have been prepared according to the Commerce exam syllabus.The Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) below.
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Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 1

“The activities involved in managing an enterprise are common to all organisations whether economic, social or political.” Which characteristic of management is highlighted in the above statement?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 1

The activities involved in managing an enterprise are common to all organisations whether economic, social or political. A petrol pump needs to be managed as much as a hospital or a school. What managers do in India, the USA, Germany or Japan is the same. How they do it may be quite different. This difference is due to the differences in culture, tradition and history.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 2

Which of the following statements is false with respect to Planning?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 2

Planning is deciding in advance what to do and how to do. It is one of the basic managerial functions. Before doing something, the manager must formulate an idea of how to work on a particular task. Thus, planning is closely connected with creativity and innovation. But the manager would first have to set objectives, only then will a manager know where he has to go. Planning seeks to bridge the gap between where we are and where we want to go. Planning is what managers at all levels do. It requires taking decisions since it involves making a choice from alternative courses of action.

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Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 3

Which function of marketing is concerned with the cost and location of target market?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 3

Transportation involves physical movement of goods from one place to the other. As generally the users of products, particularly consumer products are wide spread and geographically separated from the place these are produced, it is necessary to move them to the place where it is needed for consumption or us. A marketing firm has to analyse its transportation needs after taking into consideration various factors such as nature of the product, cost and location of target market and take decisions in respect of mode of transportation to be chosen and other related aspects.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 4

Name the process of working with and through others to effectively achieve organizational objectives by efficiently using limited resources in a changing environment.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 4

Management is a process of getting things done with the aim of achieving goals effectively and efficiently. Management as a process means to carry out primary functions or activities that management performs to get things done. These functions are planning, organising, staffing, directing and controlling.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 5

Management principles are very _________ whereas pure science principles are rigid.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 5

The principles of management are not rigid prescriptions, which have to be followed absolutely. They are flexible and can be modified by the manager when the situation so demands. They give the manager enough discretion to do so. For example, the degree of concentration of authority (centralisation) or its dispersal (decentralisation) will depend upon the situations and circumstances of each enterprise.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 6

“A car manufacturer offers to sell a particular brand of car at a discount of ₹ 10,000 for a limited period”. Identify the sales promotion activity in the above example.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 6

Offering products at special prices, to clear off excess inventory is called rebate.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 7

Identify the nature of management which specifies that “A manager applies acquired knowledge in a personalised and skillful manner in the light of the realities of a given situation.”

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 7

Art is the skillful and personal application of existing knowledge to achieve desired results. It can be acquired through study, observation and experience. Since art is concerned with personal application of knowledge some kind of ingenuity and creativity is required to practice the basic principles learnt. Management is an art because it requires personal skill, creativity and practice to apply systematic and well-organised body of knowledge in the best possible way.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 8

That part of a brand which can be recognized but which is not utterable is called _______.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 8

That part of a brand which can be recognised but which is not utter able is called brand mark. It appears in the form of a symbol, design, distinct colour scheme or lettering. For example, the Gattu of Asian Paints or Devil of Onida or symbol of Yogkshma of LIC, or four fingers and a palm of Anacin are all brand marks.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 9

Delegation refers to the_______ transfer of authority.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 9

A manager, no matter how capable he is, cannot manage to do every task on his own. The volume of work makes it impractical for him to handle it all by himself. As a consequence, if he desires to meet the organisational goals, focus on objectives and ensure that all work is accomplished, he must delegate authority. Delegation refers to the downward transfer of authority from a superior to a subordinate. It is a pre-requisite to the efficient functioning of an organisation because it enables a manager to use his time on high priority activities. 

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 10

“By stating in advance how work is to be done planning provides direction for action.” is suggested by which of the following importance of planning:

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 10

By stating in advance how work is to be done planning provides direction for action. Planning ensures that the goals or objectives are clearly stated so that they act as a guide for deciding what action should be taken and in which direction. If goals are well defined, employees are aware of what the organisation has to do and what they must do to achieve those goals individuals in the organisation are able to work in coordination. If there was no planning, employees would be working in different directions and the organisation would not be able to achieve its desired goals.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 11

Which of the following is an advantage of divisional structure?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 11

Product specialization helps in the development of varied skills in a divisional head and this prepares him for higher positions. This is because he gains experience in all functions related to a particular product. Divisional heads are accountable for profits, as revenues and costs related to different departments can be easily identified and assigned to them. This provides a proper basis for performance measurement. It also helps in fixation of responsibility in cases of poor performance of the division and appropriate remedial action can be taken.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 12

“Top management undertakes planning for the organisation as a whole. Middle management does the departmental planning. At the lowest level, day-to-day operational planning is done by supervisors”.
Which of the following feature of planning is highlighted in the above text?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 12

Planning is required at all levels of management as well as in all departments of the organisation. It is not an exclusive function of top management nor of any particular department. But the scope of planning differs at different levels and among different departments. For example, the top management undertakes planning for the organisation as a whole. Middle management does the departmental planning. At the lowest level, day-today operational planning is done by supervisors.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 13

Which of the following statement is correct with respect to marketing management?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 13

Marketing management means management of the marketing function. In other words, marketing management refers to planning, organising, directing and control of the activities which facilitate exchange of goods and services between producers and consumers or users of products and services. Thus the focus of marketing management is on achieving desired exchange outcomes with the target markets.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 14

“The significance of political conditions in business success lies in the predictability of business activities under stable political conditions”, is a major element of which of the following components of the Business Environment?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 14

Political environment includes political conditions such as general stability and peace in the country and specific attitudes that elected government representatives hold towards business. The significance of political conditions in business success lies in the predictability of business activities under stable political conditions. On the other hand, there may be uncertainty of business activities due to political unrest and threats to law and order. Political stability, thus, builds up confidence among business people to invest in the long-term projects for the growth of the economy.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 15

Why packaging and labelling have become so important in modern day marketing?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 15

Packaging and labelling have become so important in modern day marketing that these are considered as the pillars of marketing. Packaging is important not only for protection of the products but also serves as a promotional tool. Sometimes, the quality of the product is assessed by the buyers form packaging.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 16

Which of the following is the first step in the process of planning?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 16

The first and foremost step is setting objectives. Every organisation must have certain objectives. Objectives may be set for the entire organisation and each department or unit within the organisation. Objectives or goals specify what the organisation wants to achieve. Objectives should be stated clearly for all departments, units and employees. They give direction to all departments. Departments/ units then need to set their own objectives within the broad framework of the organisation’s philosophy. Objectives have to percolate down to each unit and employees at all levels. At the same time, managers must contribute ideas and participate in the objective setting process.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 17

____ refers to producing goods of predetermined specifications, which helps in achieving uniformity and consistency in the output.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 17

Standardisation refers to producing goods of predetermined specifications, which helps in achieving uniformity and consistency in the output. Standardisation ensures the buyers that goods conform to the predetermined standards of quality, price and packaging and reduces the need for inspection, testing and evaluation of the products.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 18

Advertisements, including packets of cigarettes carry the statutory warning ‘Cigarette smoking is injurious to health’. Which dimension of the business environment is highlighted in the above statement?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 18

Legal environment includes various legislations passed by the Government administrative orders issued by government authorities, court judgments as well as the decisions rendered by various commissions and agencies at every level of the government— centre, state or local. Impact of legal environment can be illustrated with the help of government regulations to protect consumer’s interests. For example, the advertisement of alcoholic beverages is prohibited. Advertisements, including packets of cigarettes carry the statutory warning ‘Cigarette smoking is injurious to health’.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 19

Management principles are derived by______

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 19

The management principles are developed only after deep and thorough research work. They are not developed overnight or they are not the personal feelings of any person. Proper observations and experiments are conducted before developing them. These are the expressions of deep experiences of the leaders of management thoughts.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 20

Which of the following importance of organizing “reduces the workload as well as enhances productivity”?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 20

Organising leads to a systematic allocation of jobs amongst the work force. This reduces the workload as well as enhances productivity because of the specific workers performing a specific job on a regular basis. Repetitive performance of a particular task allows a worker to gain experience in that area and leads to specialisation.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 21

______ is referred to as the essence of marketing.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 21

The process of marketing facilitates exchange of products and services between the buyers and the sellers. The buyers, however, make buying decisions on their perceptions of the value of the product or service in satisfying their need, in relation to its cost. A product will be purchased only if it is perceived to be giving greatest benefit or value for the money. Goods are produced at different places and are distributed over a wide geographical area through various middlemen, involving exchanges at different levels of distribution. Exchange is, therefore, referred to as the essence of marketing.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 22

Business environment is a _________ phenomenon.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 22

Since business environment consists of numerous interrelated and dynamic conditions or forces which arise from different sources, it becomes difficult to comprehend at once what exactly constitutes a given environment. In other words, environment is a complex phenomenon that is relatively easier to understand in parts but difficult to grasp in its totality.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 23

A ________  structure is an organisational design that groups similar or related jobs together.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 23

Grouping of jobs of similar nature under functional and organising these major functions as separate departments creates a functional structure. All departments report to a coordinating head. For example, in a manufacturing concern division of work into key functions will include production, purchase, marketing, accounts and personnel. These departments may be further divided into sections. Thus, a functional structure is an organisational design that groups similar or related jobs together.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 24

According to Taylor, there should be an almost equal division of work and responsibility between workers and management. 
Identify the principle of Scientific management being discussed above.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 24

There should be complete cooperation between the labour and the management instead of individualism. Competition should be replaced by cooperation. Both should realise that they need each other. For this, management should not close its ears to any constructive suggestions made by the employees. They should be rewarded for their suggestions which results in substantial reduction in costs. They should be part of management and, if any important decisions are taken, workers should be taken into confidence. According to Taylor, there should be an almost equal division of work and responsibility between workers and management. All the day long the management should work almost side by side with the workers helping, encouraging and smoothing the way for them.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 25

Sana enterprises Ltd. manufactures dresses for women. Sana plans her dresses collection in the month of January itself. She has to then ensure that there is adequate workforce and continuously monitor whether production is proceeding according to plans. 
Identify the feature of coordination mentioned in the above the text?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 25

Coordination is not a onetime function but a continuous process. It begins at the planning stage and continues till controlling. It involves a continuous review of performance and is not a one-time exercise.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 26

____ principle of management is being violated if management does not fulfill its promise to increase wages of the workers after the mission is accomplished.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 26

Discipline is the obedience to organisational rules and employment agreement which are necessary for the working of the organisation. According to Fayol, discipline requires good superiors at all levels, clear and fair agreements and judicious application of penalties.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 27

For the following two statements choose the correct option:
Statement I: By deciding in advance the tasks to be performed, planning shows the way to deal with changes and uncertain events.
Statement II: Planning helps in avoiding confusion and misunderstanding.
Choose the correct option from the options given below:

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 27

Planning is an activity which enables a manager to look ahead and anticipate changes. By deciding in advance, the tasks to be performed, planning shows the way to deal with changes and uncertain events. Changes or events cannot be eliminated but they can be anticipated and managerial responses to them can be developed. Planning serves as the basis of coordinating the activities and efforts of different divisions, departments and individuals. It helps in avoiding confusion and misunderstanding.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 28

R-Ox Ltd. wants to increase their market share by 4.5% in next two years. It spent a lot of money to hire specialized people for framing their plans, collecting important facts about environment who took lot of time to frame plans for the company. The competition has started increasing, and it is not able to beat its competitors because it has already spent a huge amount. The plan failed and company suffered a huge loss. Identify the limitation of planning stated in the given case.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 28

Planning requires a lot of time to collect information, its analysis and interpretation. So, it is a timeconsuming process. When plans are drawn up huge costs are involved in their formulation. The environment in which a business survives is dynamic as it keeps on changing. The dynamic environment may sometimes lead to failure of plans.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 29

Which of the following statement is incorrect with respect to limitations of planning?

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 29

Planning does not guarantee success. The success of an enterprise is possible only when plans are properly drawn up and implemented. Any plan needs to be translated into action or it becomes meaningless. Managers have a tendency to rely on previously tried and tested successful plans. It is not always true that just because a plan has worked before it will work again. Besides, there are so many other unknown factors to be considered. This kind of complacency and false sense of security may actually lead to failure instead of success. Planning involves huge costs. When plans are drawn up huge costs are involved in their formulation. These may be in terms of time and money for example, checking accuracy of facts may involve lot of time.

Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 30

A _____ is a state of felt deprivation or feeling of being deprived of something.

Detailed Solution for Test: Class 12 Business Studies: CBSE Sample Question Papers- Term I (2021-22) - Question 30

A need is a state of felt deprivation or feeling of being deprived of something. If unsatisfied, it leaves a person unhappy and uncomfortable. For example, on getting hungry, we become uncomfortable and start looking for objects that are capable of satisfying our hunger. Needs are basic to human beings and do not pertain to a particular product.

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