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Test: Controlling - 3 - B Com MCQ


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10 Questions MCQ Test - Test: Controlling - 3

Test: Controlling - 3 for B Com 2024 is part of B Com preparation. The Test: Controlling - 3 questions and answers have been prepared according to the B Com exam syllabus.The Test: Controlling - 3 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Controlling - 3 below.
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Test: Controlling - 3 - Question 1
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Which of the following is NOT a benefit of regular equipment and building maintenance?

Detailed Solution for Test: Controlling - 3 - Question 1
Regular maintenance increases the lifespan of equipment and buildings, reduces the risk of breakdowns, and leads to cost savings. It also enhances workplace safety by addressing potential hazards.
Test: Controlling - 3 - Question 2
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What is one of the key advantages of implementing preventative maintenance in a business?

Detailed Solution for Test: Controlling - 3 - Question 2
Preventative maintenance helps minimize disruptions to operations by proactively identifying and addressing issues before they lead to breakdowns or downtime. This can result in smoother business operations and improved productivity.
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Test: Controlling - 3 - Question 3
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Why is return on investment (ROI) considered a crucial control measure in business?

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ROI is essential because it measures the effectiveness of capital utilization in a business. It evaluates how well a company utilizes its capital to generate returns, emphasizing the efficient use of assets.
Test: Controlling - 3 - Question 4
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In the context of return on investment (ROI), what does capital turnover refer to?
Detailed Solution for Test: Controlling - 3 - Question 4
Capital turnover in ROI calculation refers to total sales divided by total investment. It indicates how efficiently capital is used to generate sales revenue.
Test: Controlling - 3 - Question 5
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Why is financial control important for government organizations?
Detailed Solution for Test: Controlling - 3 - Question 5
Financial control in government organizations is crucial to ensure transparency and accountability in the use of public funds. It helps maintain trust and proper governance.
Test: Controlling - 3 - Question 6
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What is the primary purpose of a business's profit and loss (P&L) statement?
Detailed Solution for Test: Controlling - 3 - Question 6
The primary purpose of a P&L statement is to assess the financial performance of a business by summarizing its revenue, expenses, and net income or loss during a specific period.
Test: Controlling - 3 - Question 7
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What does the return-on-investment (ROI) approach emphasize in terms of business goals?
Detailed Solution for Test: Controlling - 3 - Question 7
The ROI approach emphasizes optimizing returns from the capital invested in the business, rather than solely maximizing profits. It aims to make the best use of assets.
Test: Controlling - 3 - Question 8
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Which factor is NOT considered an advantage of following a well-defined business strategy?
Detailed Solution for Test: Controlling - 3 - Question 8
Following a well-defined business strategy primarily focuses on factors like customer service, resource utilization, and ROI. It does not directly address the risk of equipment breakdowns.
Test: Controlling - 3 - Question 9
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How does preventative maintenance contribute to a safer working environment for employees?
Detailed Solution for Test: Controlling - 3 - Question 9
Preventative maintenance reduces the need for emergency repairs, which can lead to a safer working environment by preventing sudden equipment failures that may pose risks to employees.
Test: Controlling - 3 - Question 10
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What is the common denominator used for comparing divisions within a company in terms of their performance?
Detailed Solution for Test: Controlling - 3 - Question 10
Return on investment (ROI) is the common denominator used to compare divisions within a company's performance. It helps evaluate the effectiveness of capital utilization across different divisions.
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