Delegation of authority signifies the delegation of– (A) Authority (B) Responsibility (C) Both of the above (D) None of the above

Delegation of authority signifies the delegation of– (A) Authority (B) Responsibility (C) Both of the above (D) None of the above  
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Answer: Both of the above
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Maintenance of intended delegation requires that decisions lying within the individual managers’ authority should be made by them and not referred upwards in the organizational hierarchy. This is known as– (A) principle of unity of command (B) scalar principle (C) authority level principle (D) principle of absoluteness of responsibility

Description : Maintenance of intended delegation requires that decisions lying within the individual managers' authority should be made by them and not referred upwards in the organizational hierarchy. This is ... scalar principle (C) authority level principle (D) principle of absoluteness of responsibility

Last Answer : Answer: authority level principle

Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian

Description : Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian

Last Answer : Answer: thorough subordinate training scheme exists

Which one of the following correctly signifies the purpose of an Organization Chart ? (A) Office Décor (B) Indication of available Office services (C) Flow of Authority (D) High Morale

Description : Which one of the following correctly signifies the purpose of an Organization Chart ? (A) Office Décor (B) Indication of available Office services (C) Flow of Authority (D) High Morale

Last Answer : Answer: Flow of Authority

Legitimate power is the right to manage derived from delegation based on ownership or property rights. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Description : Legitimate power is the right to manage derived from delegation based on ownership or property rights. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Last Answer : Answer: Both 1 and 2

Principle of ‘Unity of Command’ means– (A) Unity of directions (B) To receive orders from one officer only (C) A fixed place for every person (D) Proper delegation to subordinates

Description : Principle of ‘Unity of Command’ means– (A) Unity of directions (B) To receive orders from one officer only (C) A fixed place for every person (D) Proper delegation to subordinates

Last Answer : Answer: To receive orders from one officer only

What is the basis of delegation of authority? a. Centralization b. Decentralization c. Both (a) and (b) d. Division of Labor

Description : What is the basis of delegation of authority? a. Centralization b. Decentralization c. Both (a) and (b) d. Division of Labor

Last Answer : d. Division of Labor

One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members

Description : One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members

Last Answer : Answer: there is possibility of disunity of command

Convening meetings of a company is the responsibility of the– (A) Chairman, Board of Directors (B) Managing Director (C) Company Secretary (D) General Manager

Description : Convening meetings of a company is the responsibility of the– (A) Chairman, Board of Directors (B) Managing Director (C) Company Secretary (D) General Manager

Last Answer : Answer: Company Secretary

What is a systematic evaluation of a company's activities in a given area of social interest such as environmental protection, workplace safety or community involvement, called ? (A) Social responsibility (B) Social accounting (C) Social audit (D) Social forecasting

Description : What is a systematic evaluation of a company's activities in a given area of social interest such as environmental protection, workplace safety or community involvement, called ? (A) Social responsibility (B) Social accounting (C) Social audit (D) Social forecasting

Last Answer : Answer: Social audit

What is the theory of social responsibility that focuses on how companies respond to issues, rather than trying to determine their ultimate social responsibility, called ? (A) Corporate social performance (B) Corporate social responsiveness (C) Stewardship principle (D) Enlightened self-interest

Description : What is the theory of social responsibility that focuses on how companies respond to issues, rather than trying to determine their ultimate social responsibility, called ? (A) Corporate social performance (B) Corporate social responsiveness (C) Stewardship principle (D) Enlightened self-interest

Last Answer : Answer: Corporate social performance

The organisation in which power of authority runs in straight line is called– (A) Line organization (B) Functional organisation (C) Committee organization (D) None of the above

Description : The organisation in which power of authority runs in straight line is called– (A) Line organization (B) Functional organisation (C) Committee organization (D) None of the above

Last Answer : Answer: Line organization

Which of the following is not a banking related term? (A) SME Finance (B) Equinox (C) Overdraft (D) Sanctioning Authority

Description : Which of the following is not a banking related term? (A) SME Finance (B) Equinox (C) Overdraft (D) Sanctioning Authority

Last Answer : Answer: Equinox

Purposeful group-learning in the class-room generally begins with Options: A) Intelligent trial and error activity B) Motives and a clarification of objectives C) Hypothesis and generalisations D) Delegation of responsibility to the members

Description : Purposeful group-learning in the class-room generally begins with Options: A) Intelligent trial and error activity B) Motives and a clarification of objectives C) Hypothesis and generalisations D) Delegation of responsibility to the members

Last Answer : B) Motives and a clarification of objectives 

What is delegation of authority?

Description : What is delegation of authority?

Last Answer : Sharing organizational authority to different levels and positions of an organization.

The main principle of an organisation, is (A) Unity of command (B) Effective control at all levels (C) Delegation of authority (D) All the above

Description : The main principle of an organisation, is (A) Unity of command (B) Effective control at all levels (C) Delegation of authority (D) All the above

Last Answer : (D) All the above

Which of the following qualities did the University of Michigan Institute for Social Research find in effective supervisors? (a) Participative problem solving. (b) Delegation of authority. (c) An interest and concern for subordinates. (d) All the above.

Description : Which of the following qualities did the University of Michigan Institute for Social Research find in effective supervisors? (a) Participative problem solving. (b) Delegation of authority. (c) An ... to display all of those qualities mentioned above, together with high standards of performance.] 

Last Answer : a

Which of the following is a factor that affects delegation of authority from the delegant‟s aspect? (a) Love for authority ; (b) Fear of exposure ; (c) Experiences of the superior ; (d) Fear of criticism

Description : Which of the following is a factor that affects delegation of authority from the delegant‟s aspect? (a) Love for authority ; (b) Fear of exposure ; (c) Experiences of the superior ; (d) Fear of criticism

Last Answer : (d) Fear of criticism

Judicial Review signifies that the Supreme Court – (1) has final authority in overall cases (2) can declare a state law as unconstitutional (3) can review cases whose decisions have been given by High Court (4) None of the above

Description : Judicial Review signifies that the Supreme Court – (1) has final authority in overall cases (2) can declare a state law as unconstitutional (3) can review cases whose decisions have been given by High Court (4) None of the above

Last Answer : (3) can review cases whose decisions have been given by High Court Explanation: Supreme Court can review cases whose decisions have been given by High Court.

An organizational system in which responsibility and authority are delegated to lower levels of sales management is called 1. decentralized organization 2. centralized organization 3. both 1 & 2 4. regional organization 5. none of these

Description : An organizational system in which responsibility and authority are delegated to lower levels of sales management is called 1. decentralized organization 2. centralized organization 3. both 1 & 2 4. regional organization 5. none of these

Last Answer : decentralized organization

The matrix management model is based on a matrix of values between 0 and 9 for two primary variables. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Description : The matrix management model is based on a matrix of values between 0 and 9 for two primary variables. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Last Answer : Answer: Both 1 and 2

Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Description : Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Last Answer : Answer: Both contractual and statutory

Government grants related to income as per the Accounting Standard (AS)-12 should be– (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset side of the balance sheet (C) Presented as a capital grant on the liability side of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet

Description : Government grants related to income as per the Accounting Standard (AS)-12 should be- (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset ... of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet

Last Answer : Answer: Presented both in the Profit and Loss statement and in the balance sheet

Closing stock appearing in the Trial Balance is shown in– (A) Balance Sheet only (B) Trading Account only (C) Trading Account and Balance Sheet both (D) None of the above

Description : Closing stock appearing in the Trial Balance is shown in– (A) Balance Sheet only (B) Trading Account only (C) Trading Account and Balance Sheet both (D) None of the above

Last Answer : Answer: Balance Sheet only

Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis of accounting only (B) Financial statements should be prepared according to the accrual basis of accounting only (C) Financial statements should be prepared according to either the cash basis or accrual basis of accounting (D) Financial statements should be prepared according to both the accrual and cash basis of accounting

Description : Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis ... Financial statements should be prepared according to both the accrual and cash basis of accounting

Last Answer : Answer: Financial statements should be prepared according to the accrual basis of accounting only

Receipts and Payments Account is an abbreviated form of– (A) Cash Book (B) Pass Book (C) Both Cash Book and Pass Book (D) None of the above

Description : Receipts and Payments Account is an abbreviated form of– (A) Cash Book (B) Pass Book (C) Both Cash Book and Pass Book (D) None of the above

Last Answer : Answer: Cash Book

The scheme allows the transfer of scrip once the export obligation is complete. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Description : The scheme allows the transfer of scrip once the export obligation is complete. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Last Answer : Answer: Both 1 and 2

Internal Audit is provided for in the– (A) Companies Act (B) Partnership Act (C) Both (A) and (B) (D) Neither (A) or (B)

Description : Internal Audit is provided for in the– (A) Companies Act (B) Partnership Act (C) Both (A) and (B) (D) Neither (A) or (B)

Last Answer : Answer: Neither (A) or (B)

What is an organization structure in which each employee reports to both a functional (or division) manager and to a project (or group) manager, known as ? (A) Strategic business unit (B) Departmentation by customer (C) Matrix structure (D) Departmentation by territory

Description : What is an organization structure in which each employee reports to both a functional (or division) manager and to a project (or group) manager, known as ? (A) Strategic business unit (B) Departmentation by customer (C) Matrix structure (D) Departmentation by territory

Last Answer : Answer: Matrix structure

The existence of a Partnership Firm is– (A) Separate from partners (B) Not separate from partners (C) Both (A) and (B) (D) None of the above

Description : The existence of a Partnership Firm is– (A) Separate from partners (B) Not separate from partners (C) Both (A) and (B) (D) None of the above

Last Answer : Answer: Not separate from partners

In ‘Life Insurance Contract’ the insurable interest is examined at the time of– (A) Entering the contract (B) Filing the claim (C) Both (A) and (B) (D) Never

Description : In ‘Life Insurance Contract’ the insurable interest is examined at the time of– (A) Entering the contract (B) Filing the claim (C) Both (A) and (B) (D) Never

Last Answer : Answer: Entering the contract

The National highways system is the responsibility of (a) State Governments (b) Central Government (c) A special Roads Authority (d) State and Central Government

Description : The National highways system is the responsibility of (a) State Governments (b) Central Government (c) A special Roads Authority (d) State and Central Government

Last Answer : Ans: (b)

____ have the principal responsibility of achieving the target goals of the firm and have the decision-making authority.

Description : ____ have the principal responsibility of achieving the target goals of the firm and have  the decision-making authority.

Last Answer : Ans. Line managers

What is the responsibility of area authority?

Description : What is the responsibility of area authority? 

Last Answer :  Responsibilities of area authority;- The area authority is responsible for validity a permit before work starts . He will do normally at the permit issue point for this area . Before validating a ... that another person taken over his responsibility is aware of the status of permit in his area.

The internal auditing department's responsibility for deterring fraud is to a. Exercise operating authority over fraud prevention activitiesb. Establish an effective internal control system. c. Maintain internal control. d. Examine and evaluate the system of internal contro.

Description : The internal auditing department's responsibility for deterring fraud is to a. Exercise operating authority over fraud prevention activities. b. Establish an effective internal control system. c. Maintain internal control. d. Examine and evaluate the system of internal contro

Last Answer : Examine and evaluate the system of internal contro

Who has the final responsibility of sentencing and accepting a weld on completion? a) The contractor’s inspector b) Site manager c) The welder d) The client’s inspector or certifying authority

Description : Who has the final responsibility of sentencing and accepting a weld on completion? a) The contractor’s inspector b) Site manager c) The welder d) The client’s inspector or certifying authority

Last Answer : d) The client’s inspector or certifying authority

__________ involves giving frontline employees the authority and responsibility to make marketing decisions without seeking the approval of a supervisor. A)Benchmarking B)Internal marketing C)Total quality management D)Empowerment

Description : __________ involves giving frontline employees the authority and responsibility to make marketing decisions without seeking the approval of a supervisor. A)Benchmarking B)Internal marketing C)Total quality management D)Empowerment

Last Answer : D)Empowerment

The responsibility of a certification authority for digital signature is to authenticate the a. hash function used b. private keys of subscribers c. public keys of subscribers d. key used in DES

Description : The responsibility of a certification authority for digital signature is to authenticate the a. hash function used b. private keys of subscribers c. public keys of subscribers d. key used in DES 

Last Answer : c. public keys of subscribers  

A ___________ refers to the authority and responsibility for achieving the major goals of the Organization. (a) Line position ; (b) Staff position ; (c) Line authority ; (d) None of the given options

Description : A ___________ refers to the authority and responsibility for achieving the major goals of the Organization. (a) Line position ; (b) Staff position ; (c) Line authority ; (d) None of the given options

Last Answer : (a) Line position ;

Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?

Description : Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?

Last Answer : I worked in a grocery store that was a Franchise and that company charges a fee to have the ideal placement on the shelves, or near the cash register , knowing that some people (or most) buy on impulse. That is why adverting of a product with colorful and eye catching themes becomes very important .

If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which one of the following represents the figure of gross profit for the year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Description : If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which ... year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Last Answer : Answer: Rs. 12,500

The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account

Description : The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account

Last Answer : Answer: profit & loss account

Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange

Description : Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange

Last Answer : Answer: National Stock Exchange

Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through rapos (C) The RBI manages longterm liquidity through Open Market Operations (D) Open Market Operations do not alter the total stock of govt. securities but change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Description : Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through ... change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Last Answer : Answer: The RBI manages longterm liquidity through rapos

The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management

Description : The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management

Last Answer : Answer: Liquidity management

Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To make Primary Dealer System an effective conduct of open market operations (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure

Description : Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To ... (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure

Last Answer : Answer: To strengthen the private equity infrastructure

The tool used by auditor to monitor and control the progress of audit work is– (A) Engagement diary (B) Audit programme (C) Audit working papers (D) Audit notes.

Description : The tool used by auditor to monitor and control the progress of audit work is– (A) Engagement diary (B) Audit programme (C) Audit working papers (D) Audit notes.

Last Answer : Answer: Audit programme

Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Description : Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Last Answer : Answer: Deferred shares

If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio

Description : If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio

Last Answer : Answer: Old profit sharing ratio

When an incoming partner purchases his share from any one of the existing partners, then– (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent of payment received from the new partner (C) total assets of the firm will be reduced to the extent of payment received from the new partner (D) change in total assets of the firm will depend upon the new profit sharing ratio of the partners

Description : When an incoming partner purchases his share from any one of the existing partners, then- (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent ... ) change in total assets of the firm will depend upon the new profit sharing ratio of the partners

Last Answer : Answer: total assets of the firm do not change

Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period ? (A) High Court, within 30 days (B) Supreme Court within 60 days (C) SEBI within 90 days (D) Department of Companies Affairs within 60 days

Description : Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period ? (A) High Court, within 30 days (B) ... Court within 60 days (C) SEBI within 90 days (D) Department of Companies Affairs within 60 days

Last Answer : Answer: Supreme Court within 60 days