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Test: Controlling - 1 - B Com MCQ


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10 Questions MCQ Test - Test: Controlling - 1

Test: Controlling - 1 for B Com 2024 is part of B Com preparation. The Test: Controlling - 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Controlling - 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Controlling - 1 below.
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Test: Controlling - 1 - Question 1
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What is the first step in the process of controlling according to the text?

Detailed Solution for Test: Controlling - 1 - Question 1
The first step in the process of controlling, as per the text, is setting performance standards. Performance standards serve as benchmarks for measuring actual performance. These standards guide the efforts of the entire organization and can be expressed in quantitative and qualitative terms. They act as a lighthouse, directing the organization's actions toward its goals.
Test: Controlling - 1 - Question 2
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What is an example of a qualitative performance standard mentioned in the text?

Detailed Solution for Test: Controlling - 1 - Question 2
A qualitative performance standard, as explained in the text, is one that is expressed in non-numeric terms. Improving the motivation level of employees is an example of such a standard. It focuses on enhancing employee morale and engagement rather than specific numerical targets.
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Test: Controlling - 1 - Question 3
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Which control technique involves checking a sample of products for quality specifications in a large organization?

Detailed Solution for Test: Controlling - 1 - Question 3
In a large organization, the technique of sample checking is used to measure performance. This involves randomly checking a sample of products for quality specifications. It is a practical way to ensure that quality standards are being met without inspecting every single unit.
Test: Controlling - 1 - Question 4
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What principle suggests that an attempt to control everything results in controlling nothing?
Detailed Solution for Test: Controlling - 1 - Question 4
The principle of "Management by Exception" suggests that trying to control every detail and deviation can be overwhelming and counterproductive. Instead, it focuses on identifying and addressing important deviations that exceed prescribed limits, allowing managers to concentrate their efforts where they matter most.
Test: Controlling - 1 - Question 5
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What is the key requirement for an effective management control system, according to the text?
Detailed Solution for Test: Controlling - 1 - Question 5
According to the text, one of the key requirements for an effective management control system is flexibility. The system should be adaptable to changing circumstances and allow for adjustments in response to unforeseen events or deviations from plans.
Test: Controlling - 1 - Question 6
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What is the primary advantage of Critical Point Control and Management by Exception, as mentioned in the text?
Detailed Solution for Test: Controlling - 1 - Question 6
The primary advantage of Critical Point Control and Management by Exception, as highlighted in the text, is that they save time and efforts. By focusing on important deviations and critical areas, managers can efficiently allocate their resources and attention where they are needed most, rather than getting bogged down in minor issues.
Test: Controlling - 1 - Question 7
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What is the purpose of budget controls in an organization?
Detailed Solution for Test: Controlling - 1 - Question 7
Budget controls in an organization serve the purpose of tracking financial resources and activities. They help in monitoring how funds are allocated, spent, and whether they align with the organization's financial goals.
Test: Controlling - 1 - Question 8
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What does test marketing involve?
Detailed Solution for Test: Controlling - 1 - Question 8
Test marketing is the process of assessing customer acceptance on a small scale before a product or service is fully launched. It involves gathering feedback from a limited sample of potential customers to evaluate the product's viability in the market.
Test: Controlling - 1 - Question 9
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What is the primary purpose of human resource controls?
Detailed Solution for Test: Controlling - 1 - Question 9
The primary purpose of human resource controls, as mentioned in the text, is to monitor employee behavior within an organization. This includes regulating the quality of newly hired personnel and tracking the development and performance of current employees.
Test: Controlling - 1 - Question 10
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What is a limitation of using information technology for control purposes, as per the text?
Detailed Solution for Test: Controlling - 1 - Question 10
A limitation of using information technology for control purposes, as mentioned in the text, is that it may lead to information overload. Having access to vast amounts of data can overwhelm employees, cause stress, and slow down decision-making processes. It's essential to manage the quantity and quality of information effectively.
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