CUET Business Study

Cuet (Common University Entrance Test) For Undergraduate Courses Business Studies (Code: 305)



Cuet (Common University Entrance Test) For Undergraduate Courses Business Studies (Code: 305) A.S. Siddiqui CMA from the Institute of Cost Accountants of India, MBA from Indian Institute of Management, Bangalore, B.Com. (Hons.) from Delhi University New Delhi   LAXMI PUBLICATIONS (P) LTD (An ISO 9001:2015 Company) BEngalURU  • Chennai • Guwahati • Hyderabad • Jalandhar Kochi  • Kolkata • lucknow • mumbai • Ranchi New Delhi

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Introduction National Testing Agency has been entrusted with the responsibility of conducting the Undergraduate entrance tests for all the Central Universities (CUs) for the academic session 2022–2023. CUET will provide a single window opportunity to students to seek admission in any of the Central Universities (CUs) across the country. The CUET (UG)–2022 will be conducted in Computer Based Test (CBT) Mode. Examination Structure for CUET (UG)–2022: CUET (UG)–2022 will consist of the following four sections:  Section IA – 13 Languages  Section IB – 19 Languages  Section II – 27 Domain Specific Subjects  Section III – General Test Choosing options from each section is not mandatory. Choices should match the requirements of the desired University. Broad features of CUET (UG)–2022: Some features of CUET (UG)–2022 are as follows: Section Subjects/Tests Questions to Question Type Duration be Attempted Section IA– There are 13* different 40 questions to Language to be tested through 45 minutes Languages languages. Any of these be attempted for each languages may be chosen. out of 50 in each Reading Comprehension language language (based on different types of passages–Factual, Literary and Narrative, [Literary Aptitude and Vocabulary] Section IB– There are 19** languages. Languages Any other language apart from those offered in Section I A may be chosen. Section II– There are 27*** Domain 40 questions to • Input text can be used for 45 minutes Domain specific subjects being be attempted for each offered under this section. out of 50 MCQ Based Questions Domain Section III– A candidate may choose specific General a maximum of Six (06) 60 questions to • MCQs based on NCERT subjects Test Domains as desired by be attempted the applicable University/ out of 75 Class XII syllabus only 60 minutes Universities. For any such under- • Input text can be used for graduate programme/ programmes being offered MCQ Based Questions by Universities where a General Test is being used • General Knowledge, Current for admission. Affairs, General Mental Ability, Numerical Ability, Quantitative Reasoning (Simple application of basic mathematical concepts arithmetic/algebra geometry/ mensuration/stat taught till Grade 8), Logical and Analytical Reasoning

* Languages (13): Tamil, Telugu, Kannada, Malayalam, Marathi, Gujarati, Odia, Bengali, Assamese, Punjabi, English, Hindi and Urdu ** Languages (19): French, Spanish, German, Nepali, Persian, Italian, Arabic, Sindhi, Kashmiri, Konkani, Bodo, Dogri, Maithili, Manipuri, Santhali, Tibetan, Japanese, Russian and Chinese. *** DomainSpecificSubjects(27):1.Accountancy/BookKeeping;2.Biology/BiologicalStudies/Biotechnology/ Biochemistry; 3. Business Studies; 4. Chemistry; 5. Computer Science/Informatics Practices; 6. Economics/ Business Economics; 7. Engineering Graphics; 8. Entrepreneurship; 9. Geography/Geology; 10. History; 11. Home Science; 12. Knowledge Tradition and Practices of India; 13. Legal Studies; 14. Environmental Science; 15. Mathematics; 16. Physical Education/NCC/Yoga; 17. Physics; 18. Political Science; 19. Psychology; 20. Sociology; 21. Teaching Aptitude; 22. Agriculture; 23. Mass Media/Mass Communication; 24. Anthropology; 25. Fine Arts/Visual Arts (Sculpture/Painting)/Commercial Arts; 26. Performing Arts– (i) Dance (Kathak/Bharatnatyam/Oddisi/Kathakali/Kuchipudi/Manipuri (ii) Drama-Theatre (iii) Music General (Hindustani/Carnatic/Rabindra Sangeet/Percussion/Non-Percussion); 27. Sanskrit [For all Shastri (Shastri 3 years/4 years Honours) Equivalent to B.A./B.A. Honours courses i.e. Shastri in Veda, Paurohitya (Karmakand), Dharamshastra, Prachin Vyakarana, Navya Vyakarana, Phalit Jyotish, Siddhant Jyotish, Vastushastra, Sahitya, Puranetihas, Prakrit Bhasha,Prachin Nyaya Vaisheshik, Sankhya Yoga, Jain Darshan, Mimansa, AdvaitaVedanta, Vishihstadvaita Vedanta, Sarva Darshan, a candidate may choose Sanskrit as the Domain]. • A candidate can choose a maximum of any 3 languages from Section IA and Section IB taken together. (One of the languages chosen needs to be in lieu of Domain specific subjects). • Section II offers 27 subjects, out of which a candidate may choose a maximum of 6 subjects. • Section III comprises General Test. • For choosing Languages (up to 3) from Section IA and IB and a maximum of 6 subjects from Section II and General Test under Section III, the candidate must refer to the requirements of his/her intended University. Level of questions for CUET (UG)–2022: All questions in various testing areas will be benchmarked at the level of Class XII only. Marking Scheme of Examination For Multiple Choice Questions: To answer a question, the candidates need to choose one option corresponding to the correct answer or the most appropriate answer. However, if any anomaly or discrepancy is found after the process of challenges of the key verification, it shall be addressed in the following manner: (i) Correct answer or the most appropriate answer: Five marks (+ 5) (ii) Any incorrect option marked will be given minus one mark (– 1). (iii) Unanswered/Marked for Review will be given no mark (0). (iv) If more than one option is found to be correct then Five marks (+ 5) will be awarded to only those who have marked any of the correct options. (v) If all options are found to be correct then Five marks (+ 5) will be awarded to all those who have attempted the question. (vi) If none of the options is found correct or a Question is found to be wrong or a Question is dropped then all candidates who have appeared will be given five marks (+ 5). Note: C andidates are advised to visit the NTA CUET (UG)–2022 official website https://cuet.samarth.ac.in/, for latest updates regarding the Examination.

Contents 1. Nature and Significance of Management ... 1 2. Principles of Management ... 5 3. Management and Business Environment ... 10 4. Planning ... 14 5. Organising ... 18 6. Staffing ... 22 7. Directing ... 26 8. Controlling ... 30 9. Financial Management ... 32 10. Financial Markets ... 36 11. Marketing Management ... 40 12. Consumer Protection ... 45 13. Entrepreneurship Development ... 48 Answers ... 50–54 Mock Test Papers ... M1–M22

Syllabus (Business Studies – 305) Note: T here will be one Question Paper which will have 50 questions out of which 40 questions need to be attempted. Principles and Functions of Management Unit I: Nature and Significance of Management •• Management – concept, objectives, importance. •• Nature of management; Management as Science, Art, Profession. •• Levels of management – top, middle supervisory (First level). •• Management functions – planning, organizing, staffing, directing, and controlling. •• Coordination – nature, and importance. Unit II: Principles of Management •• Principles of Management – meaning, nature and significance. •• Fayol’s principles of management. •• Taylor’s Scientific Management – Principles and Techniques. Unit III: Business Environment •• Business Environment – meaning and importance. •• Dimensions of Business Environment – Economic, Social, Technological, Political, and Legal. •• Economic Environment in India; Impact of Government policy changes on business and industry, with special reference to the adoption of the policies of liberalization privatization, and globalization. Unit IV: Planning •• Meaning, features, importance, limitations. •• Planning process. •• Types of Plans – Objectives, Strategy, Policy, Procedure, Method, Rule, Budget, Programme Unit V: Organising •• Meaning and importance. •• Steps in the process of organizing. •• Structure of organization – functional, and divisional. •• Formal and informal organization. •• Delegation: meaning elements and importance. •• Decentralization: meaning and importance. •• Difference between delegation and decentralization. (ix)

(x) Unit VI: Staffing •• Meaning, need, and importance of staffing. •• Staffing as a part of Human Resources Management. •• Steps in the staffing process. •• Recruitment – meaning and sources. •• Selection – meaning and process. •• Training and Development – meaning, need, methods – on the job and off the job methods of training. Unit VII: Directing •• Meaning, importance, and principles. •• Elements of Direction: –– Supervision – meaning and importance –– Motivation – meaning and importance, Maslow’s hierarchy of needs; Financial and non‑financial incentives. –– Leadership – meaning, importance; qualities of a good leader. –– Communication – meaning and importance, formal and informal communication; barriers to effective communication. Unit VIII: Controlling •• Meaning and importance. •• Relationship between planning and controlling. •• Steps in the process of control. •• Techniques of controlling. Business Finance and Marketing Unit IX: Business Finance •• Business finance – meaning, role, objectives of financial management. •• Financial planning – meaning and importance. •• Capital Structure – meaning and factors. •• Fixed and Working Capital – meaning and factors affecting their requirements. Unit X: Financial Markets •• Concept of Financial Market: Money Market – nature instruments; •• Capital market: nature and types – primary and secondary market. •• The distinction between capital market and money market. •• Stock Exchange – meaning, functions, NSEI, OCTEI, Trading Procedure. •• Securities and Exchange Board of India (SEBI) – Objectives, Functions. Unit XI: Marketing •• Marketing – meaning, functions, role. •• The distinction between marketing and selling.

(xi) •• Marketing mix – concept and elements: –– Product – nature, classification, branding, labeling, and packaging –– Physical distribution: meaning, role; Channels of distribution, – meaning, types, factors, determining the choice of channels. –– Promotion – meaning and role, promotion mix, Role of Advertising and personal selling; objections to Advertising. –– Price: factors influencing pricing. Unit XII: Consumer Protection •• Importance of consumer protection. •• Consumer rights. •• Consumer responsibilities. •• Ways and means of consumer protection – Consumer awareness and legal redressal with special reference to the Consumer Protection Act. •• Role of consumer organizations and NGOs. Unit XIII: Entrepreneurship Development •• Concept, Functions, and Need. •• Entrepreneurship Characteristics and Competencies. •• Process of Entrepreneurship Development. •• Entrepreneurial Values, Attitudes, and Motivation – Meaning and Concept.

1. Nature and Significance of Management MULTIPLE CHOICE QUESTIONS Point out the correct alternative answer: 10. Who is responsible for the welfare and survival of an organization? 1. Which is not a function of management of the following? (a) Middle level (a) Planning (b) Staffing (b) Top level managers (c) Cooperating (d) Controlling (c) Operational management 2. Management is: (d) None of these (a) an Art (b) a Science 11. Which of the following is not included in top level management? (c) both Art and Science (d) none of these (a) Managing director 3. The following is not an objective of (b) Chief executive management. (c) Accountant (a) Earning Profits (d) Board of directors (b) Growth of the Organisation 12. Mainly, planning is concerned with (c) Providing Employment ........................ . (d) Policy Making (a) Formulation of policies and strategies 4. Policy formulation is the function of: (b) Manpower planning (a) Top level managers (c) Management in action (b) middle level managers (d) None of these (c) operational management 13. ........................ aims to help each other. (d) all of these (a) Staffing (b) Planning 5. Coordination is: (c) Cooperation (d) Coordination (a) function of management 14. Marketing and personnel managers are part of ........................ . (b) the essence of management (c) an objective of management (a) top level management (d) none of these (b) operational level management 6. A good manager synchronises all the activities (c) middle level management of different departments through: (d) none of these (a) Planning (b) Staffing 15. The work performed by top level management (c) Coordination (d) Supervision is ........................ . 7. Under what function of management, policies (a) complex and stressful and strategies are formulated? (b) easy (a) Directing (b) Organising (c) not considered (c) Planning (d) Controlling (d) concerned with control of operative 8. Efficiency is concerned with: employees (a) Completion of task 16. Name the process of designing and maintaining an environment in which individuals, working (b) Cooperation together in groups, efficiently accomplish selected aims. (c) Right man at right job (d) Utilisation of minimum resources (a) Coordination (b) Cooperation 9. Middle level management consists of: (c) Management (d) Planning (a) President (b) Chairman (c) Supervisor (d) Finance manager 1

2 BUSINESS STUDIES 17. The activities involved in managing an 23. Management is concerned as: enterprise are common to all organisations whether economic social or political. Which (a) Art (b) Science characteristic of management is discussed in the given statement? (c) Both art and science (d) None of these (a) Management is a goal oriented process 24. ‘Management helps people adapt to environmental changes so that the organisation (b) Management is all pervasive is able to maintain its competitive edge’. Which (c) Management is dynamic feature of management is mentioned here? (d) Management is an intangible force (a) Management creates a dynamic organisation 18. ‘Management has to adapt itself to the changing environment.’ Which characteristic (b) Management helps in achieving personal of management is mentioned in the given objectives statement?` (c) Management helps in the development of (a) Management is multidimensional society (b) Management is a group activity (d) Management increases efficiency (c) Management is a dynamic function 25. Which one of the following is not the function of management? (d) Management is a continuous process 19. ‘An organisation is a collection of diverse (a) Planning (b) Organising individuals with different needs’. Which characteristic of management is discussed (c) Coordinating (d) Directing here? 26. Which one of the following is the primary function of management? (a) Management is a group activity (a) Planning (b) Organising (b) Management is a continuous process (c) Directing (d) Controlling (c) Management is an intangible force 27. Which one of the following is an evaluative function of management? (d) Management is all pervasive 20. ‘Management is consumed with management (a) Planning (b) Controlling of people, management of work and management of operations’. Which (c) Organising (d) Directing characteristic of management is discussed in the given statement? 28. Which of the following levels of management is responsible for welfare and survival of the organisation? (a) Management is all pervasive (a) Top management (b) Management is a group activity (b) Middle management (c) Management is a continuous process (c) Supervisory management (d) Management is multi-dimensional (d) None of these 21. Which one of the following is not an 29. Deeraj is working as a supervisor in a factory. organisational objective of management? At which level of management is he working? (a) Survival (b) Growth (a) Top management (c) Profit (b) Middle management (d) Employment generation (c) Operations management 22. ‘Management aims at reducing costs and (d) None of these increasing the productivity through better planning, organising, directing, staffing and 30. Which of the following managerial functions controlling the activities of the organisation.’ helps in finding right people for the right job? Which importance of management is mentioned in the given statement? (a) Planning (b) Organising (c) Staffing (d) Directing (a) Management helps in achieving group 31. Name the process which ensures the orderly goals arrangement of individual and group efforts to ensure unity of action in the realisation of (b) Management increases efficiency common objectives. (c) Management helps in achieving personal (a) Planning (b) Organising objectives (c) Coordination (d) Cooperation (d) Management creates a dynamic organisation

Nature and Significance of Management 3 32. Coordination is: 36. Match the function of management in (a) a function of management Column I with their respective definition (b) the essence of management in Column II. (c) an objective of management (d) a characteristic of management Column I Column II 33. ‘Coordination is the responsibility of (A) Planning (i) It is the function of all managers’. Which characteristic of determining in advance coordination is discussed here? what is to be done and who (a) Coordination is a deliberates Function is to do it. (b) Coordination is the responsibility of all (B) Organising (ii) It is the function of finding managers the right people for the right (c) Coordination is a continuous process job. (d) Coordination integrates group efforts 34. ‘The purpose of coordination is to secure (C) Staffing (iii) It is the function of assigning duties and grouping of unity of action in the realisation of a common tasks. purpose’. Which characteristic of coordination is mentioned in the above statement? Choose the correct alternative: (a) Coordination integrates group efforts (b) Coordination ensures unity of action (a) A–(iii), B–(ii), C–(i) (b) A–(i), B–(iii), C–(ii) (c) Coordination is a continuous process (d) Coordination is an all pervasive function (c) A–(ii), B–(i), C–(iii) (d) A–(i), B–(ii), C–(iii) 35. ‘Coordination unifies unrelated or diverse interests into purposeful work activity’. Name 37. Match the characteristic of management the characteristic of coordination reflected by mentioned in Column I with their the above statement. respective explanation in Column II. (a) Coordination integrates group efforts (b) Coordination ensures unity of action Column I Column II (c) Coordination is a continuous process (d) Coordination is a deliberate function (A) Pervasive (i) Management is concerned with management of work, management of people and management of operations. (B) Multi- (ii) Managerial activities dimensional are common in all types of organisations. (C) Group activity (iii) An organisation is a collection of diverse individuals with different needs. Choose the correct alternative: (a) A–(ii), B–(i), C–(iii) (b) A–(i), B–(ii), C–(iii) (c) A–(iii), B–(i), C–(ii) (d) A–(ii), B–(iii), C–(i) CASE BASED QUESTIONS PASSAGE I that in order to be successful, an organisation must change itself and its goals according to the needs of Read the passage given below and answer the the environment. following questions: 1. At which level of management, Avinash is Avinash is the managing director of a Garment working? Manufacturing Company. He has been on this post for last 10 years and under his guidance and leadership (a) Top level (b) Middle level the company has been performing well. As a manager he aims at reducing costs and increase productivity (c) Lower level (d) Operational level through improved performance of various managerial functions. He always sets goals in advance and 2. Which managerial function is discussed in the develops a way of achieving them efficiently and above para? effectively. As an experienced manager he believes (a) Planning (b) Organising (c) Directing (d) Controlling

4 BUSINESS STUDIES 3. Identify the importance of management (a) Coordination is the responsibility of all discussed in the above para. managers (a) Management helps in achieving personal (b) Coordination is a continuous process goals (c) Coordination is a deliberate function (d) Coordination integrates group efforts (b) Management increases efficiency 4. Identify the importance of coordination (c) Management helps in achieving group discussed in the above para. goals (a) Essence of management (b) Growth in size (d) Management helps in the development of (c) Functional differentiation society (d) Specialisation 4. Identify the characteristic of management PASSAGE III discussed in the above para. Read the passage given below and answer the (a) Management is a group activity following questions: (b) Management is an intangible force Rakesh is a managing director in a Mobile Manufacturing Company. He is of the view that (c) Management is a dynamic function management cannot be seen but its presence can be felt in the way the organisation functions. He (d) Management is a continuous process believes that management has a systematised body of knowledge. It has its own theory and principles PASSAGE II that have developed over a period of time. Read the passage given below and answer the following questions: 1. At which level of management Rakesh is working? Sumit is the General Manager of a Pharmaceutical Company. As a manager his task is to give a common (a) Top level management direction to the individual effort in achieving the overall goal of the organisation. He believes that an (b) Middle level management organisation has a set of basic goals which are the basic reason for its existence. As a manager he unites (c) Lower level management the efforts of different individuals in the organisation towards achieving these goals. He is of the view that (d) None of these coordination is very important in any organisation as it unifies unrelated or diverse interests into 2. Which of the following functions will be purposeful work activity. As organisations grow performed by Rakesh as a Managing director? in size, the number of people employed by the organisation also increases. Hence it is important to (a) Coordinating the activities of different harmonise individual goals and organisational goals departments through coordination. (b) Assigning necessary duties and 1. Identify the importance of management responsibilities to the personnel mentioned in the above para. (c) Interacting with the workforce (a) Management helps in achieving personal objectives (d) Motivating the workforce to achieve the desired objectives (b) Management helps in achieving group goals 3. Which characteristic of management is discussed in the given para? (c) Management helps in the development of society (a) Management is a dynamic function (d) Management increases efficiency (b) Management is a group activity 2. Identify the characteristic of management (c) Management is an intangible force mentioned in the above para. (d) Management is multi-dimensional (a) Management is multidimensional 4. Identify the nature of management discussed (b) Management is all pervasive in the above para. (c) Management is a goal oriented process (a) Management as a profession (d) Management is a continuous process (b) Management as a science 3. Identify the characteristic of coordination (c) Management as a discipline mentioned in the above para. (d) Management as an art

3. Management and Business Environment MULTIPLE CHOICE QUESTIONS Point out the correct alternative answer: (a) Increase the profit 1. Which of the following does not characterise (b) Reduce the profit margin the business environment ? (c) Increase the cost of production (a) Uncertainty (b) Employees (d) Increase the tax (c) Relativity (d) Complexity 8. Changes in fashions and tastes of consumers 2. Which of the following best indicates the will ....................... . importance of business environment ? (a) Increase the sale (a) Identification (b) Increase the profit (b) Improvement in performance (c) Increase the cost of production (c) Coping with rapid changes (d) Shift the market demand from existing (d) All of them 3. Which of the following is an example of social product to new ones 9. Which of the following creates fear in the environment? (a) Money supply in the economy minds of investors? (b) Consumer Protection Act (a) Technological improvements (b) New innovations (c) Political uncertainty (c) The constitution of the country (d) None of these (d) Composition of family 10. Technological improvements and innovations result in ....................... . 4. Liberalisation means: (a) Integration among economies (a) Rendering existing products obsolete (b) Reduced government controls and (b) Reduction in profit margins (c) Increase in tax restrictions (d) None of these (c) Policy of planned disinvestments 11. Increase or decrease in the value of Rupee is (d) None of them an example of ....................... . 5. Which of the following does not explain the (a) Political environment impact of Government policy changes on (b) Economic environment business and industry? (c) Social environment (d) None of these (a) More demanding customers 12. Advertisements of cigarettes carry the (b) Increasing competition statutory warning. This is because of ....................... . (c) Change in agricultural policy (d) Market orientation 6. What will be the effect of increase in tax by the (a) Social environment government? (b) Political environment (a) Increase in profit margin (c) Legal environment (b) Creates fear in the minds of investors (d) None of these (c) Increase in cost of production 13. Facebook, Twitter and Whatsapp are the result of ....................... . (d) None of these (a) Social environment 7. Increased competition in the market will ....................... . (b) Political environment (c) Technological environment (d) None of these 10

Management and Business Environment 11 14. For the protection of a consumers right, there 23. ‘Business environment differs from country to is ....................... . country and even from region to region‘. (a) Consumer Protection Act 1984 Which features of business environment is mentioned in the given statement? (b) Consumer Protection Act, 1986 (c) Consumer Protection Act, 1932 (a) Uncertainty (b) Complexity (d) Consumer Protection Act, 1956 (c) Dynamic (d) Relativity 15. Rise in GDP leads to rise in ....................... . 24. ‘Since environment is a source of both opportunities and threats for a business (a) cost of production enterprises, its understanding and analysis can be the basis for deciding the future course (b) increase in new taxes of action‘. (c) disposable income of people (d) none of these Identify the importance of environment discussed in the given statement. 16. The complete awareness and understanding of business environment is called ....................... . (a) It helps in coping with rapid changes (a) liberalisation (b) It helps in assesting in planning and policy formulation (b) technological advancement (c) environmental scanning (c) It helps in improving performance (d) privatisation (d) It helps in tapping useful resources 17. Through environmental scanning a business 25. Which of the following is a general force of firm can enjoy the ....................... . business environment? (a) benefit of taxes (a) Suppliers (b) Political conditions (b) competition (c) Investors (d) Customers (c) first mover advantage 26. ‘It is very difficult to predict future happeninges, especially when environmental changes are (d) last mover advantage taking place too frequently. Which of the following features of business environment is 18. External environment trends and changes will discussed in the given statement? provide ....................... . (a) less competition (b) profits (c) threats (d) goodwill (a) Dynamic nature (b) Complexity 19. Globalization aims at ....................... . (c) Uncertainty (d) Relativity (a) export promotion 27. The trend of online shopping and electronic payment mechanism has increased in the (b) import liberalisation recent past. Which dimension of business environment is responsible for such a scenario? (c) foreign exchange reforms (d) all of these (a) Political (b) Legal 20. Advance understanding of business (c) Social (d) Technological environment will help in ....................... . 28. As per the directions issued by the Supreme (a) developing new principles of management Court, the government passed an order to ban the sale of tobacco products within the area of (b) planning and policy formulation 200 meters of all educational institutions. (c) privatisation (d) nothing Which dimension of business environment is mentioned here? 21. Which of the following is an example of specific force of business environment? (a) Social (b) Legal (a) Competitors (c) Economic (d) Technological (b) Political conditions 29. Since customers can now afford to buy the products of foreign companies, hence the (c) Legal framework government has encouraged foreign companies to must in some sectors of retailing. (d) Political scenario 22. ‘Business environment keeps on changing Which two dimensions of business environment from time to time’ which feature of business is discussed in the given statement? environment is discussed here? (a) Complexity (b) Uncertainty (a) Economic and political (c) Dynamic nature (d) Relativity (b) Social and legal

12 BUSINESS STUDIES (c) Technological and political 37. Match the features of business environment mentioned in Column I with (d) Legal and social their respective explanation mentioned in Column II. 30. Which of the following economic reforms aims at reducing the roll of public sector in the Column I Column II economy? (A) Totality of (i) Business environment (a) Liberalisation (b) Privatisation external is the sum total of forces all things external to (c) Globalisation (d) None of the above business firms. (B) Dynamic 31. Withdrawal of currency from its present nature (ii) Business environment circulation is called differs from country to (C) Relativity country and even region (a) Demonetisation to region. (b) Privatisation (iii) Business environment keeps on changing from (c) Depreciation of currency time to time. (d) Appreciation of currency 32. Which of the following economic reforms aim Choose the correct alternative: at integrating the domestic economy with the (a) A–(i), B–(iii), C–(ii) (b) A–(ii), B–(i), C–(iii) various other economics? (c) A–(i), B–(ii), C–(iii) (d) A–(iii), B–(i), C–(ii) (a) Privatisation (b) Liberalisation (c) Globalisation (d) Disinvestment 33. Entry of multinational firms in domestic 38. Match the economic reforms mentioned economy is an example of: in Column I with their respective explanation mentioned in Column II. (a) General force (b) Specific force (c) Opportunity (d) Threat 34. Which one of the following does not characterise Column I Column II the business environment? (A) Liberalisation (i) Reducing the role of (a) Uncertainty (B) Privatisation public sector in the economy. (b) Relativity (C) Globalisation (ii) Removing unnecessary (c) Members of the organisation central and restrictions on business. (d) Complexity (iii) Integrating the 35. Which of the following dimensions of business domestic economy with environment is concerned with disposable the rest of the world. income of people? (a) Social (b) Economic (c) Legal (d) Political Choose the correct alternative: (a) A–(iii), B–(ii), C–(i) (b) A–(ii), B–(iii), C–(i) 36. Which of the following reforms is concerned (c) A–(i), B–(ii), C–(iii) (d) A–(ii), B–(i), C–(iii) with reduction of government controls and restriction? (a) Liberalisation (b) Privatisation (c) Globalisation (d) Disinvestment CASE BASED QUESTIONS PASSAGE I the future course of action or training guidelines for decision making. Read the passage given below and answer the following questions: 1. Identify the features of business environment discussed in the first line of the paragraph. Business environments is the sum total of all things external to business firms and, as such is aggregative (a) Specific and general forces in nature. It consists of numerous inter-related (b) Totality of general forces and dynamic conditions or forces which arise from (c) Inter-relatedness different sources. Understanding and analysing (d) Complexity business environment can be the basis for deciding

Management and Business Environment 13 2. ‘It consists of numerous inter-related and and keeps on changing from time to time. According dynamic conditions or forces which arise from to him today’s business environment is getting different sources’. increasingly dynamic, hence managers have to cope with these changes by understanding and examining Which feature of Management is discussed in the environment. It helps managers in developing this statement? suitable courses of action. (a) Relativity 1. Which of the following is a specific force of business environment? (b) Inter-relatedness (c) Complexity (a) Investors (d) Dynamic nature (b) Technological conditions 3. Which importance of business environment is (c) Political conditions mentioned in the above case? (d) Economic conditions (a) It helps in tapping useful resources 2. Which of the following is a general force of (b) It helps in improving performance business environment? (c) It helps in coping with rapid changes (a) Customers (d) It helps in asserting in planning and policy (b) Competitors formulation (c) Suppliers 4. Which of the following is not a feature of business environment? (d) Economic conditions (a) Relativity (b) Complexity 3. Which features of business environment is discussed in the above para? (c) Contingent (d) Inter-relatedness (a) Dynamic nature (b) Inter-relatedness PASSAGE II (c) Uncertainty (d) Complexity Read the passage given below and answer the following questions: 4. Which importance of business environment is discussed in the above para? Mr. Vivek is a managing director in a company. He is of the view that it is very important to analyse (a) It helps in improving performance the business environment before taking any major business decision. According to him business (b) It helps in coping with rapid changes environment includes both specific and general forces. Business environment never remains static (c) It helps in asserting in planning and policy formulation (d) It helps in tapping useful resources

7. Directing MULTIPLE CHOICE QUESTIONS Point out the correct alternative answer: 9. The process of converting the message into communication symbols is known as 1. Which one of the following is not an element of direction? (a) Media (b) Encoding (a) Motivation (b) Communication (c) Feedback (d) Decoding (c) Delegation (d) Supervision 10. The communication network in which all subordinates under a supervisor communicate 2. The motivation theory which classifies needs through supervisor only is in hierarchical order is developed by: (a) Single chain (b) Inverted V (a) Fred Luthans (b) Scott (c) Wheel (d) Free flow (c) Abraham Maslow (d) Peter F. Drucker 11. Which of the following functions of 3. Which of the following is a financial incentive? management initiates action? (a) Promotion (b) Stock incentive (a) Planning (b) Organising (c) Job security (d) Employee participation (c) Directing (d) Controlling 12. Which one of the following is not an element of directing? 4. Which of the following is not an element of (a) Motivation (b) Leadership communication process? (c) Communication (d) Delegation (a) Decoding (b) Communication 13. Which element of directing is concerned with overseeing the subordinates while they are at (c) Channel (d) Receiver work? 5. Grapevine is (a) Formal communication (a) Supervision (b) Leadership (b) Barrier to communication (c) Motivation (d) Communication (c) Lateral communication 14. Which element of directing means incitement (d) Informal communication or inducement to act or move. 6. Status comes under the following type of (a) Leadership (b) Motivation barriers (c) Communication (d) Supervision (a) Semantic barrier 15. Name the process of stimulating people to (b) Organisational barrier action to accomplish desired goals. (c) Non-semantic barrier (d) Psychological barrier (a) Leadership (b) Motivation 7. The software company promoted by Narayana (c) Communication (d) Delegation Murthy is 16. Abraham Maslow was: (a) An engineer (a) Wipro (b) Infosys (b) A management theorist (c) Satyam (d) HCL (c) A psychologist 8. The highest level need in the need hierarchy of (d) A professor Abraham Maslow 17. Who introduced the need Hierarchy theory of (a) Safety need motivation? (b) Belongingness need (a) Peter Drucker (b) Philip Kotler (c) Self Actualisation need (c) Herzbert Sheldon (d) Abraham Maslow (d) Prestige need 26

Directing 27 18. Which one of the following is a financial 25. Which leadership style allows participation of incentive? workers in decision making? (a) Perquisite (a) Autocratic leadership (b) Transformational leadership (b) Status (c) Democratic leadership (d) None of the above (c) Job enrichment 26. Laxmi Private Ltd. assured their employees (d) Employee empowerment that inspite of recession no worker will be retrenched from the job. 19. Which of the following non-financial incentives Which of the following non-financial incentives is concerned with ranking of positions in the is offered to the employees by the company? organisation? (a) Job enrichment (b) Job security (a) Status (c) Employee participation (d) Status (b) Job enrichment 27. Technical Jargon comes under which category of communication barrier? (c) Employee participation (a) Semantic barrier (b) Organisational barrier (d) Employee empowerment (c) Personal barrier (d) Psychological barrier 20. Name the process of influencing the behaviour 28. Distrust comes under which type of barrier to of people by making them strive voluntarily effective communication? towards achievement of organisational goals. (a) Psychological barrier (b) Semantic barrier (a) Supervision (b) Motivation (c) Organisational barrier (d) Personal barrier (c) Communication (d) Leadership 29. Directing is concerned with the following elements ................... . 21. Involving employees in decision making of the (a) Supervision and motivation issues related to them is known as: (b) Communication (c) All of these (a) Employee participation (d) Leadership 30. Supervision means ................... . (b) Employee empowerment (a) Planning for the future (b) Starting a business (c) Job enrichment (c) Overseeing what is being done by the (d) Employee recognition subordinates (d) Fulfilment of legal formalities 22. The process of exchange of information for the 31. Leadership is the art or process of ................... . purpose of creating a common understanding (a) Supervision is called: (b) Influencing the behaviour of people (c) Making people responsible without (a) Leadership (b) Motivation providing them any authority (c) Centralisation (d) Communication (d) Delegating authority 23. Which of the following non-financial incentives is concerned with designing jobs that include greater variety of work content, requiring higher level of knowledge and skills? (a) Job security (b) Job enrichment (c) Career advancement opportunity (d) None of the above 24. Under which style of leadership, the leader gives orders and expects his subordinates to obey those orders. (a) Autocratic leadership (b) Democratic leadership (c) Free rein leadership (d) Transformational leadership

28 BUSINESS STUDIES 32. Bonus, promotion and recognition are the (a) Accounting (b) Ensuring performance of work example of ................... . (c) Staffing (d) Planning (a) Controlling (b) Planning 35. Safety/Security needs are concerned with (c) Staffing (d) Positive Motivation ................... . (a) Safety of property 33. Punishment and stopping increments, etc., (b) Protection from physical and emotional are the examples of ................... . harm (c) Protection against danger (a) Communication (d) All of these (b) Negative motivation (c) Supervision (d) Positive motivation 34. Which of the following is a function of supervisor? CASE BASED QUESTIONS PASSAGE I (a) Status Read the passage given below and answer the (b) Job security following questions: (c) Career Advancement Mr. Sunil Diali is a safety officer in a reputed PSU sector ECL. He supervises the workers towards the (d) Employee recognition predetermined goals of the organisation and directs how to eradicate unsafe practices of inundation, fire 4. Under Maslow’s hierarchy need theory which breakouts, existence of inflammable gases etc. need of Mr. Diali has been met through respect and recognition among other employees? On one such instances there was huge fire breakout in the underground mines and the workers (a) Self-actualization need morale was down and demotivated because of several risk hazards. Mr. Diali observed the whole situation (b) Safety and security needs and consulted with all his workers and constantly monitored, guided and inspired them to integrate (c) Esteem needs their efforts and accept the situation as a challenge and take adequate safety measures for fire extinguish (d) Physiological needs. and subsidizing its effects. Thereby, production turnover was outstanding and outper formed other PASSAGE II subsidiaries. Mr. Diali was recognised with Bravery Read the passage given below and answer the Award from CIL. following questions: 1. Mr. Diali worked towards predetermined goals Y limited is a bank functioning in India. It is planning of the organization. Which important function to diversify into insurance business. Lately, the of directing is addressed here? government of India has allowed the private sector to gain entry in the insurance business. Previously, (a) Means of motivation it was the prerogative of LIC and GIC to do insurance business. But now with liberalisation of the economy (b) Initiates action and to make the field competitive other companies have been given licenses to start insurance business (c) Facilitate change under the regulation of ‘Insurance Regulatory and Development Authority’. (d) Brings stability Y limited plans to recruit high quality employees 2. Mr. Diali consulted with all his workers, and agents and exercise effective direction to capture a he listened to their opinions. Which form of substantial part of life and non-life insurance business. leadership is identified here? 1. Identify how the company can supervise (a) Laissez-faire (b) Autocratic its employees and agents effectively. What benefits will the company derive from effective (c) Democratic (d) Free-rein supervision? 3. Bravery award is ...................... form of non- (a) Importance of supervision financial incentive. (b) Importance of labour

Directing 29 (c) Both (a) and (b) 4. Give a model of formal communication (d) None of these system that the company can follow. Identify 2. What financial and non-financial incentives the barriers in this model. How can they be removed? can the company use for employees and agents separately to motivate them? What benefits (a) Importance of direction will the company get from them? (b) Elements of decision (a) Financial incentives (c) Both (a) and (b) (b) Non-financial incentives (d) Advantages of formal communication and (c) Both (a) and (b) (d) None of these its barriers. 3. How can the company ensure that higher 5. How can informal communication help to order needs i.e., esteem and self-actualisation as specified by Abraham Maslow are met? supplement formal communication model (a) Financial incentives given by you in answer to question 5? (b) Non-financial incentives (a) Upward communication (c) Both (a) and (b) (b) Formal communication (d) None of these (c) Merits of informal communication (d) None of these

10. Financial Markets MULTIPLE CHOICE QUESTIONS Point out the correct alternative answer: (c) Providing liquidity to financial assets 1. Primary and Secondary Markets: (d) Mobilisation of savings and channeling them into the most productive uses (a) Compete with each other 10. Which of the following money market (b) Complement each other instruments is an instrument of short term borrowing by the Government of India (c) Function independently maturing in less than one year? (d) Control each other (a) Call money (b) Commercial paper 2. The total number of stock exchange in India (c) Treasury bill (d) Commercial bill are: (a) 20 (b) 21 11. Which of the following is the most popular method of raising funds by public companies (c) 22 (d) 23 in the primary market? 3. The settlement cycle in NSE is: (a) Offer for sale (a) T + 5 (b) T + 3 (b) Offer through prospectus (c) T + 2 (d) T + 1 (c) Private placement 4. The National Stock Exchange of India was (d) e-IPOs recognised as stock exchange in the year: 12. Which of the following financial markets deal (a) 1992 (b) 1993 in long term funds? (c) 1994 (d) 1995 (a) Money market (b) Capital market 5. NSE commenced future trading in the year: (c) Neither (a) and (b) (d) Both (a) and (b) (a) 1999 (b) 2000 13. ............... is a bill of exchange used to finance the working capital requirements of business (c) 2001 (d) 2002 firms. 6. Clearing and settlement operations of NSE is (a) Certificate of deposit (b) Commercial bill carried out by: (a) NSDL (b) NSCCL (c) Treasury bill (d) Call money (c) SBI (d) CDSL 14. .............. refers to the allotment of securities by a company to institutional investors. 7. A treasury bill is basically: (a) An instrument to borrow short term funds (a) Private placement (b) Rights issue (b) An instrument to barrow long term funds (c) Offer for sale (d) e-IPOs (c) An instrument of capital market 15. In which year securities and Exchange Board of India was given a statutory status? (d) None of the above (a) 1991 (b) 1992 8. Which of the following financial markets is the market for short term funds? (c) 1993 (d) 1994 (a) Money market (b) Primary market 16. The settlement cycle in NSE is: (c) Secondary market (d) None of the above (a) T + 5 (b) T + 3 9. ‘A financial market facilitates the transfer of (c) T + 2 (d) T + 1 savings from savers to investors.’ 17. ‘The membership of a stock exchange is well Which function of financial market is discussed regulated and its dealings are well defined as here? per the existing legal framework.’ (a) Facilitating price discovery Which function of stock exchanges is mentioned here? (b) Reducing the cost of transactions 36

Financial Markets 37 (a) Pricing of securities 25. Instruments with a maturity period of less than one year are traded in .................... . (b) Contributes to economic growth (c) Spreading of equity cult (a) Capital market (b) NSEI (d) Safety of transaction (c) Stock exchange (d) Money market 18. ‘Stock exchange is a market which helps 26. Securities Exchange Board of India (SEBI) in channelising savings into their most was established in .................... . productive investment answers’. (a) 1984 (b) 2001 Which function of stock exchange is mentioned (c) 1956 (d) 1988 here? 27. .................... is not a participant in money (a) Safety of transaction market. (b) Contributes to economic growth (a) Mutual funds (b) RBI (c) Spreading of equity cult (c) NBFCs (d) SEBI (d) Pricing of securities 28. Capital market deals in .................... . 19. In which year SEBI was established: (a) Medium and long-term securities (a) 1982 (b) 1984 (b) Very short-term securities (c) 1988 (d) 1990 (c) Short-term securities 20. Which of the following money market (d) None of these instruments is used for inter-bank transactions? 29. Which of the following is not a part of capital market? (a) Call money (a) RBI (b) Commercial paper (b) Financial institutions (c) Treasury bill (c) Stock exchanges (d) Certificate of deposit (d) Banks 21. Under which of the following methods of 30. Instruments traded in the capital market are floatation, a privilege is given to existing .................... . shareholders to subscribe to a new issue of shares according to the terms and conditions (a) Equity shares and preference shares of the company? (b) Debentures (a) Offer through prospectus (c) Bonds (b) Offer for sale (d) All of these (c) Private placement 31. What types of instruments are traded in a money market? (d) Rights issue (a) Commercial bills (b) Treasury bills 22. ‘Financial Markets facilitate easy purchase and sale of financial assets.’ (c) Call money (d) All of these Which function of financial market is described 32. .................... instruments enjoy higher degrees here? of liquidity. (a) Providing liquidity to financial assets. (a) Capital market (b) Reducing the cost of transactions (b) Both money and capital market (c) Facilitating price discovery (c) Money market (d) Equity unit (d) None of these 23. OTCEI was started on the lines of: 33. The expected rate of return of the money market is .................... . (a) NASAQ (b) NSE (a) Less (b) More (c) NYSE (d) NASDAQ (c) Very high (d) Zero 24. To be listed on OTCEI, the minimum capital requirement for a company is: 34. A treasury bill is an instrument of .................... . (a) ` 5 crore (b) ` 3 crore (a) Interest (b) Long-term debt (c) ` 10 crore (d) ` 25 crore (c) Dividend (d) Short-term debt

38 BUSINESS STUDIES 35. Treasury bills are also known as .................... . 41. Which of the following is a method of flotation? (a) Flat rate bonds (a) Offer through prospectus (b) Zero coupon bonds (b) Private placement (c) Fixed interest bonds (c) Offer for sale (d) Low interest bonds (d) All of these 36. A commercial bill is used to .................... . 42. What is the meaning of right issue? (a) Meet the short-term debt (a) Securities are not issued to existing shareholders at all (b) Pay the interest (c) Finance the working capital requirements (b) Company sells the securities to some selected institutions (d) Meet the long-term debt 37. When a trade bill is accepted by a commercial (c) Company offers new shares to its existing bank, it is known as a .................. . shareholders (a) Call money (d) None of these (b) Certificate of deposit 43. Under Private Placement a company sells securities to some selected institutions. (c) Commercial bill (d) None of these From the following identify such institution. 38. A capital market is ideal when: (a) LIC (b) UTI (a) Finance is available at a reasonable cost (c) GIC (d) All of these (b) Capital is most productively allocated 44. What is meant by Demat Account? (c) Financial institutions are sufficiently (a) Demand depository account developed (d) All of these (b) Development market account 39. Money market deals in .................... . (c) Dematerialisation of securities (a) Long-term securities (d) Depository participant account (b) Short-term securities 45. At present, only two depositories are registered with SEBI. Those are .................... . (c) Medium term securities (d) None of these (a) NSDL and ABSL 40. Only institutional investors can participate in (b) NSDL and CDSL .................... . (c) NSDL and HDFC (a) Capital market (b) Money market (d) NEFT and TDS (c) Loan market (d) Foreign market CASE BASED QUESTIONS PASSAGE the other hand, deals in the sale and purchase of the existing securities. That is, it deals in the trading Read the passage given below and answer the of those securities that were initially issued in the following questions: primary market. A capital market refers to the market that deals in The history of capital market in the form of the trading of medium and long-term securities. That stock exchange dates back to the eighteenth century. is, it deals in those securities that have a maturity The Government of India introduced the Companies period of greater than or equal to one year. Capital Act in 1850 with the aim of generating investor market comprises instruments such as equity and interest in corporate securities. The first stock preference shares, debentures, bonds, mutual funds, exchange was set up in India in the year 1875 as public deposits, etc. A capital market can be divided “The Native Share and Stock Brokers Association” into two parts, viz., primary market and secondary in Bombay. Later it was renamed as ‘Bombay Stock market. Primary market deals with issue of new Exchange’ (BSE). In the subsequent years stock securities. Issue of new securities in the primary exchanges were developed in Ahmedabad, Calcutta market directs funds towards those entrepreneurs and Madras. that either want to start a new enterprise or wish to expand the existing one. Secondary market, on

Financial Markets 39 In 1990s, the Indian secondary market only (b) Capital market, particularly stock consisted of regional stock exchanges wherein, first exchange is referred to as barometer of was the BSE. However, after the reforms of 1991, the economy. Indian Stock Market acquired a three-tier system. This consisted of Regional Stock Exchanges, National (c) The market for short-term money and Stock Exchange and Over the Counter Exchange of financial assets as close substitute for India (OTCEI). money is known as money market. 1. Which of the following financial markets (d) None of these deal in the trading of medium and long term securities? 3. Capital market comprises instruments such as: (a) Capital market (b) Money market (a) Debentures (b) Bonds (c) Both (a) and (b) (d) None of these (c) Public deposits (d) All of these 2. Which of the following statement is false? 4. Which of the following was set up in order to (a) OTCEI aims at providing the small establish a nationwide platform for trading in companies an easy access to the capital all types of securities? market. (a) Regional stock exchange (b) NSE (c) OTCEI (d) None of these

13. Entrepreneurship Development MULTIPLE CHOICE QUESTIONS Point out the correct alternative answer: 8. An entrepreneur is said to be: (a) promotor of economic development 1. According to sociological approach, entre- preneurships is the (b) motivator of economic development (a) process of sensitivity (c) both of the (a) and (b) (b) process of role performance (d) none of the (a) and (b) (c) process of economic change 9. Which of the following statement is incorrect? (a) Entrepreneurship is a process of bringing (d) all of these together factors of production in order to 2. The function of entrepreneur is/are: produce a commodity or service with profit motive (a) imagine a business idea (b) Entrepreneur is a person who starts an (b) study project feasibility enterprise and converts the opportunities into success (c) setup enterprise (c) Entrepreneurs should have great deal of (d) all of these perseverance 3. Which of the following is not a characteristic of (d) None of these Entrepreneurship? 10. Which of the following statement is/are (a) Risk taking correct? (b) Innovation (a) Intrapreneurship is the act of behaving like an entrepreneur while working within (c) Creative activity the large organisation (d) Managerial training (b) Effective direction requires proper motivation of entrepreneurs 4. An entrepreneur can be (c) Values are beliefs that forms the criteria of (a) Born individual’s ideas and behaviour that are inseparable part of social integration (b) Made (d) All of these (c) Born and made both 11. Which of the following is not the (d) None of these Entrepreneurial function? 5. Entrepreneurship fails to lead: (a) Innovation (a) Partnership firm (b) Risk taking (b) New corporate division (c) Organisation building (c) New subsidiary venture (d) None of these (d) None of these 12. Which of the follow is not the process of Entrepreneurship? 6. Social and economic development of a nation is the result of ................... . (a) Self-discovery (a) Entrepreneur (b) Planning (b) Identifying opportunities (c) Operation (d) Government (c) Generating and evaluating idea 7. Entrepreneurial Development programme (d) None of these provides: 13. Which of the following is a myth of (a) Self employment Entrepreneurship? (b) Education & training (a) Debt cannot be raised (c) Skill increment (b) Commencing a business is simple (d) All of these 48

Entrepreneurship Development 49 (c) Entrepreneurs are very successful 17. Entrepreneurs undertake (a) calculated risks financially (b) high risks (c) low risks (d) All of these (d) moderate and calculated risks 18. In economics, which of the following is not a 14. Which of these is not the importance of entrepreneurship? function of the entrepreneur? (a) Risk taking (a) Innovation (b) More profits (b) Provision of capital and organisation of (c) National income (d) None of these production (c) Innovation 15. Which of the following is characteristics of an (d) Day to day conduct of business Entrepreneur? (a) Innovation (b) Leadership (c) Self-centred (d) Information seeking 16. Which of the following is not a type of Entrepreneur? (a) Innovative (b) Imitative (c) Fabian (d) None of these CASE BASED QUESTIONS PASSAGE Once an entrepreneur achieves success the next step is to determine for how long he can hold to Read the passage given below and answer the that success. Ethical conduct helps him in surviving following questions: for long. They should bring some ethical standards in their working and practices so that a good and healthy Ethics refer to standards and norms which guides a image can be built in the market. person to decide what is wrong and right. It is related to our beliefs and conduct. It guides the entrepreneur 1. Ethical entrepreneurship is concerned to act in the right manner and understands his obligations towards various interest groups. For (a) with earning maximum profit example, social obligation of business is part of ethics. It should provide standard quality of goods and (b) with working in the right manner towards services to customers at fair and reasonable prices. various interest group Similarly an entrepreneur should pay his taxes to the government as it is his obligation. Business (c) with the process of generating enthusiasm guide the entrepreneur to be fair with everyone he among competitors deals. He should never be involved in unfair and maltrade practices. He should understand that he is (d) none of these a member of the society and he has lot of obligation towards each and every aspect of the society. Paying 2. Which of the following ethical practices your dues on time, being honest and loyal etc. are all businesses try to follow? part of business ethics and ethical entrepreneurship. Hence ethics are considered as principles that govern a (a) Providing quality goods and services at fair person’s behaviour and his style of working. Corporate prices ethics came into common use in U.S.A in early 1970s. By the mid 1980s at least 500 courses in business (b) Not encouraging child labour ethics reached 40000 students. Even now firms and entrepreneurs try to promote their businesses on (c) Curtailing down the social cost by taking ethical grounds. into consideration the environmental issues Entrepreneurs today operate in a stressful environment where there is a cut throat competition. (d) All of these Hence they have limited time to focus on ethical issues. It is hard now a days to take care of fairness, 3. Entrepreneurs want to make their own commitments, promises etc. decisions. Which word best describes this characteristics? (a) Goal-oriented (b) Independent (c) Enthusiastic (d) Action oriented 4. A trait of entrepreneurs (a) Investment (b) Profile (c) Goal-oriented (d) Competition

ANSWERS 1. Nature and Significance of Management MULTIPLE CHOICE QUESTIONS 1. (c) 2. (c) 3. (c) 4. (a) 5. (b) 6. (c) 7. (c) 8. (d) 12. (a) 13. (c) 14. (c) 15. (a) 16. (c) 9. (d) 10. (b) 11. (c) 20. (d) 21. (d) 22. (b) 23. (c) 24. (a) 28. (a) 29. (c) 30. (c) 31. (c) 32. (b) 17. (b) 18. (c) 19. (a) 36. (b) 37. (a) 8. (d) 25. (c) 26. (a) 27. (b) 4. (c) 16. (d) 24. (c) 33. (b) 34. (b) 35. (a) 4. (b) 32. (c) CASE BASED QUESTIONS 4. (b) 8. (d) 16. (c) Passage I 24. (b) 32. (c) 1. (a) 2. (d) 3. (b) Passage II 1. (b) 2. (c) 3. (d) Passage III 1. (a) 2. (a) 3. (c) 2. Principles of Management MULTIPLE CHOICE QUESTIONS 1. (c) 2. (b) 3. (c) 4. (b) 5. (a) 6. (c) 7. (b) 12. (d) 13. (d) 14. (c) 15. (a) 9. (c) 10. (b) 11. (a) 20. (c) 21. (a) 22. (b) 23. (a) 28. (a) 29. (a) 30. (b) 31. (b) 17. (b) 18. (c) 19. (b) 36. (d) 25. (b) 26. (c) 27. (b) 33. (c) 34. (d) 35. (a) CASE BASED QUESTIONS Passage I 1. (d) 2. (a) 3. (a) 4. (b) Passage II 1. (d) 2. (c) 3. (c) 4. (a) Passage III 1. (b) 2. (a) 3. (b) 4. (c) 3. Management and Business Environment MULTIPLE CHOICE QUESTIONS 1. (b) 2. (d) 3. (d) 4. (b) 5. (c) 6. (c) 7. (b) 12. (c) 13. (c) 14. (b) 15. (c) 9. (c) 10. (a) 11. (b) 20. (b) 21. (a) 22. (c) 23. (d) 28. (b) 29. (a) 30. (b) 31. (a) 17. (c) 18. (c) 19. (d) 36. (a) 37. (a) 38. (d) 25. (b) 26. (c) 27. (d) 50 33. (d) 34. (c) 35. (b)

ANSWERS 51 CASE BASED QUESTIONS 8. (d) 16. (d) Passage I 24. (a) 32. (a) 1. (b) 2. (c) 3. (d) 4. (c) 8. (c) Passage II 16. (a) 24. (a) 1. (a) 2. (d) 3. (a) 4. (b) 32. (a) 4. Planning 8. (b) 16. (b) MULTIPLE CHOICE QUESTIONS 24. (a) 32. (d) 1. (a) 2. (b) 3. (c) 4. (b) 5. (d) 6. (c) 7. (c) 12. (a) 13. (b) 14. (b) 15. (c) 9. (b) 10. (d) 11. (a) 20. (d) 21. (b) 22. (c) 23. (a) 28. (c) 29. (d) 30. (b) 31. (c) 17. (d) 18. (c) 19. (c) 4. (c) 7. (c) 25. (c) 26. (c) 27. (b) 4. (b) 15. (a) 23. (b) 33. (d) 31. (b) CASE BASED QUESTIONS 7. (c) 15. (d) Passage I 23. (c) 31. (a) 1. (a) 2. (c) 3. (d) Passage II 1. (b) 2. (b) 3. (b) 5. Organising MULTIPLE CHOICE QUESTIONS 1. (d) 2. (b) 3. (d) 4. (a) 5. (a) 6. (a) 12. (b) 13. (d) 14. (a) 9. (b) 10. (c) 11. (d) 20. (c) 21. (b) 22. (b) 28. (d) 29. (c) 30. (b) 17. (c) 18. (c) 19. (b) 36. (a) 37. (d) 25. (c) 26. (d) 27. (c) 4. (b) 33. (b) 34. (b) 35. (d) CASE BASED QUESTIONS Passage 1. (c) 2. (b) 3. (c) 6. Staffing MULTIPLE CHOICE QUESTIONS 1. (c) 2. (a) 3. (c) 4. (b) 5. (a) 6. (d) 12. (a) 13. (b) 14. (c) 9. (b) 10. (a) 11. (c) 20. (a) 21. (c) 22. (b) 28. (d) 29. (a) 30. (b) 17. (a) 18. (c) 19. (d) 36. (b) 37. (d) 38. (c) 25. (b) 26. (c) 27. (a) 33. (a) 34. (c) 35. (b)

52 BUSINESS STUDIES CASE BASED QUESTIONS Passage I 1. (a) 2. (d) 3. (b) 4. (b) 4. (d) Passage II 4. (d) 1. (d) 2. (b) 3. (a) Passage III 1. (a) 2. (b) 3. (c) 7. Directing MULTIPLE CHOICE QUESTIONS 1. (c) 2. (c) 3. (b) 4. (b) 5. (d) 6. (b) 7. (b) 8. (c) 12. (d) 13. (a) 14. (b) 15. (b) 16. (c) 9. (b) 10. (c) 11. (c) 20. (d) 21. (a) 22. (d) 23. (b) 24. (a) 28. (a) 29. (c) 30. (c) 31. (b) 32. (d) 17. (d) 18. (a) 19. (a) 4. (c) 5. (c) 25. (d) 26. (b) 27. (a) 4. (d) 33. (b) 34. (b) 35. (d) CASE BASED QUESTIONS Passage I 1. (b) 2. (c) 3. (d) Passage II 1. (a) 2. (c) 3. (b) 8. Controlling MULTIPLE CHOICE QUESTIONS 1. (d) 2. (c) 3. (a) 4. (c) 5. (a) 6. (a) 7. (b) 8. (d) 12. (b) 13. (b) 14. (d) 15. (a) 16. (d) 9. (c) 10. (c) 11. (c) 20. (c) 21. (c) 22. (b) 17. (b) 18. (d) 19. (a) CASE BASED QUESTIONS Passage 1. (a) 2. (b) 3. (c) 9. Financial Management MULTIPLE CHOICE QUESTIONS 1. (d) 2. (c) 3. (a) 4. (a) 5. (b) 6. (c) 7. (a) 8. (b) 12. (c) 13. (a) 14. (d) 15. (c) 16. (d) 9. (c) 10. (d) 11. (a) 20. (b) 21. (c) 22. (c) 23. (c) 24. (b) 28. (c) 29. (b) 30. (b) 31. (d) 32. (a) 17. (d) 18. (b) 19. (b) 36. (c) 37. (d) 38. (d) 39. (d) 40. (b) 25. (d) 26. (c) 27. (a) 33. (d) 34. (d) 35. (d) 41. (a) 42. (c)

ANSWERS 53 CASE BASED QUESTIONS 8. (a) 16. (c) Passage I 24. (b) 32. (c) 1. (b) 2. (c) 3. (b) 4. (d) 40. (b) 4. (b) Passage II 8. (d) 16. (c) 1. (a) 2. (c) 3. (a) 24. (a) 32. (c) 10. Financial Markets 40. (d) 48. (c) MULTIPLE CHOICE QUESTIONS 8. (a) 1. (b) 2. (d) 3. (c) 4. (a) 5. (b) 6. (b) 7. (a) 16. (a) 12. (b) 13. (b) 14. (a) 15. (b) 24. (b) 9. (d) 10. (c) 11. (b) 20. (a) 21. (d) 22. (a) 23. (d) 28. (a) 29. (a) 30. (d) 31. (d) 17. (d) 18. (b) 19. (c) 36. (c) 37. (c) 38. (d) 39. (b) 44. (c) 45. (b) 25. (d) 26. (d) 27. (d) 7. (c) 4. (b) 15. (a) 33. (a) 34. (d) 35. (b) 23. (b) 31. (c) 41. (d) 42. (c) 43. (d) 39. (a) 47. (d) CASE BASED QUESTIONS 7. (c) Passage 15. (d) 23. (b) 1. (a) 2. (d) 3. (d) 11. Marketing Management MULTIPLE CHOICE QUESTIONS 1. (b) 2. (d) 3. (c) 4. (b) 5. (b) 6. (b) 12. (a) 13. (c) 14. (b) 9. (c) 10. (c) 11. (c) 20. (a) 21. (c) 22. (a) 28. (c) 29. (a) 30. (d) 17. (b) 18. (a) 19. (b) 36. (c) 37. (b) 38. (b) 44. (c) 45. (b) 46. (c) 25. (a) 26. (a) 27. (d) 52. (b) 53. (a) 33. (d) 34. (b) 35. (d) 4. (a) 41. (c) 42. (a) 43. (d) 4. (d) 49. (c) 50. (c) 51. (c) CASE BASED QUESTIONS Passage I 1. (b) 2. (a) 3. (c) Passage II 1. (b) 2. (a) 3. (d) 12. Consumer Protection MULTIPLE CHOICE QUESTIONS 1. (b) 2. (a) 3. (b) 4. (b) 5. (b) 6. (b) 12. (b) 13. (a) 14. (b) 9. (b) 10. (d) 11. (c) 20. (d) 21. (b) 22. (a) 28. (d) 29. (c) 30. (c) 17. (c) 18. (b) 19. (c) 4. (a) 25. (b) 26. (c) 27. (a) CASE BASED QUESTIONS Passage 1. (b) 2. (b) 3. (c)

54 BUSINESS STUDIES 13. Entrepreneurship Development MULTIPLE CHOICE QUESTIONS 1. (b) 2. (d) 3. (d) 4. (c) 5. (a) 6. (a) 7. (a) 8. (c) 12. (d) 13. (d) 14. (d) 15. (c) 16. (d) 9. (d) 10. (d) 11. (d) 4. (c) 17. (d) 18. (d) CASE BASED QUESTIONS Passage 1. (b) 2. (d) 3. (b)

Mock Test Paper–1 1. Which is not a function of management of the (a) Measurement of actual performance following? (b) Analysing deviations (a) Planning (b) Staffing (c) Taking corrective action (c) Cooperating (d) Controlling (d) Setting performance standards 2. How are principles of management formed? 9. Financial planning arrives at (a) In a laboratory (a) minimising the external borrowing by resorting to equity issues (b) By experiences of managers (c) By experiences of customers (b) entering that the film always have significantly more fund than required so (d) By propagation of social scientists that there is no paucity of funds 3. Which of the following is an example of social (c) ensuring that the firm paces neither a environment? shortage nor a glut of unusable funds (a) Money supply in the economy (b) Consumer Protection Act (d) doing only what is possible with the funds that the films has at its disposal. (c) The constitution of the country (d) Composition of family 10. Which of the following money market instruments is an instrument of short term 4. ‘Planning lays down the base for other borrowing by the Government of India functions of Management’ which feature of maturing in less than one year? planning is reflected in the given statement? (a) Planning focuses on objectives (a) Call money (b) Commercial paper (b) Planning is a primary function of (c) Treasury bill (d) Commercial bill management 11. Which of the following is not an element of (c) Planning is pervasive promotion? (d) Planning is continuous (a) Advertising (b) Personal selling 5. Centralisation refers to: (c) Stock clearing (d) Sales promotion (a) Retention of decision making authority 12. Which right to consumer allows him to get relief in case the good service falls short of his (b) Dispersal of decision making authority expectations? (c) Creating divisions as profit centres (d) Opening new centres or branches (a) Right to safety 6. Which source of external recruitment can (b) Right to choose provide the required number of unskilled workers at short notice? (c) Right to seek redressal (a) Campus recruitment (d) Right to be informed (b) Employment exchange 13. A good manager synchronises all the activities of different departments through: (c) Web publishing (a) Planning (b) Staffing (d) Labour contractors (c) Coordination (d) Supervision 7. The software company promoted by Narayana Murthy is 14. Which of the following is not a principle of management given by Taylor? (a) Wipro (b) Infosys (a) Science, not rule of the thumb (c) Satyam (d) HCL (b) Functional foremanship 8. Which is the first step in the process of (c) Maximum not restricted output controlling? (d) Harmony not discord 1

M-2 BUSINESS STUDIES 15. Changes in fashions and tastes of consumers (a) Personal selling will ....................... . (b) Sales promotion (a) Increase the sale (c) Advertising (b) Increase the profit (d) Public relations (c) Increase the cost of production 24. .................... a standardised mark is printed on jewellery. (d) Shift the market demand from existing product to new ones (a) Agmark (b) ISO 2009 16. ‘Following a pre-decided plan, when (c) Hallmark (d) ISI circumstances have changed, may not turn out to be in the organisation’s interest.’ 25. Which of the following is not included in top level management? Identify the limitation of planning discussed above. (a) Managing director (a) Planing is time consuming (b) Chief executive (b) Planning leads to rigidity (c) Accountant (c) Planning does not guarantee success (d) Board of directors (d) Planning involves huge cost 26. Science, not rule of thumb, this principle was given by ....................... 17. Grouping of activities on the basis of functions is a part of: (a) James Lundy (b) Henry Fayol (a) Decentralised organisation (c) Koontz (d) F.W. Taylor (b) Divisional organisation 27. Facebook, Twitter and Whatsapp are the result of ....................... . (c) Functional organisation (a) Social environment (d) Centralised organisation (b) Political environment (c) Technological environment 18. Which of the following selection tests aim at measuring the existing skills of the individual? (d) None of these (a) Interest test (b) Intelligence test 28. Name the type of plant that provides broad contours of an organisation’s business. (c) Trade test (d) Personality test 19. Which one of the following is not an element of (a) Policy (b) Strategy directing? (c) Programme (d) Budget (a) Motivation (b) Leadership 29. Centralisation refers to: (c) Communication (d) Delegation (a) Retention of decision making authority 20. Which of the following is not a technique of (b) Dispersal of decision making authority controlling? (c) Creating divisions as profit centers (a) Cash flow statement (d) Opening new centers or branches (b) Budget 30. Which of the following training methods aims (c) Managerial audit at introducing the selected fresh employee to the existing employees and familiarising him (d) Break-even analysis with the rules and policies of the organisation? 21. Which of the following is the primary objective (a) Apprenticeship training of financial management? (a) Availability of funds (b) Induction training (b) Profit (c) Vestibule training (c) Growth (d) Internship training (d) Maximisation of shareholder’s wealth 31. Who introduced the need Hierarchy theory of motivation? 22. In which year securities and Exchange Board of India was given a statutory status? (a) Peter Drucker (a) 1991 (b) 1992 (b) Philip Kotler (c) 1993 (d) 1994 (c) Herzbert Sheldon 23. Which of the following tools of promotion is in (d) Abraham Maslow a paid form and has a mass reach?

Mock Test Paper–1 M-3 32. What are the techniques of measurement of 40. Which of the following is not a feature of performance? planning? (a) Performance reports (a) Planning is futuristic (b) To achieve objectives (b) Sample checking (c) Planning is time consuming (d) Planning is pervasive (c) Personal observation 41. Grouping of activities on the basis of functions (d) All of these is a part of: (a) Decentralised organisation 33. Which financial decision is concerned with (b) Divisional organisation distribution of profits among the shareholders? (c) Functional organisation (d) Centralised organisation (a) Financing decision 42. According to sociological approach, entre- (b) Dividend decision preneurships is the (a) process of sensitivity (c) Investment decision (b) process of role performance (c) process of economic change (d) Working capital decision (d) all of these 34. Which of the following money market instruments is used for inter-bank transactions? (a) Call money (b) Commercial paper (c) Treasury bill (d) Certificate of deposit Read the following case/passage and answer the questions from 43 to 46: 35. The word ‘market’ has come from the Latin word ................... . Avinash is the managing director of a Garment Manufacturing Company. He has been on this post for (a) Matico (b) Marcatus last 10 years and under his guidance and leadership the company has been performing well. As a manager (c) Marketio (d) Marketo he aims at reducing costs and increase productivity through improved performance of various managerial 36. Consumers should use ISI marked electrical functions. He always sets goals in advance and appliance, is an example of: develops a way of achieving them efficiently and effectively. As an experienced manager he believes (a) Right to safety that in order to be successful, an organisation must change itself and its goals according to the needs of (b) Right to be heard the environment. (c) Right to choose (d) Right to be informed 37. Name the process of designing and maintaining 43. At which level of management, Avinash is an environment in which individuals, working working? together in groups, efficiently accomplish selected aims. (a) Coordination (b) Cooperation (a) Top level (b) Middle level (c) Management (c) Lower level (d) Operational level (d) Planning 44. Which managerial function is discussed in the above para? 38. The principles of management are intended to apply to all types of organisations. Which (a) Planning (b) Organising characteristic of management principles is mentioned in the given statement? (c) Directing (d) Controlling (a) General guidelines 45. Identify the importance of management discussed in the above para. (b) Universal applicability (a) Management helps in achieving personal (c) Flexible goals (d) Absolute (b) Management increases efficiency 39. External environment trends and changes will (c) Management helps in achieving group provide ....................... . goals (a) less competition (b) profits (d) Management helps in the development of society (c) threats (d) goodwill

M-4 BUSINESS STUDIES 46. Identify the characteristic of management 47. The purpose of the fourth test was too find out discussed in the above para. how much capability a person has to mix‑up with other persons, and whether he can (a) Management is a group activity influence other persons and get influenced by them. Which tests is indicated in this situation. (b) Management is an intangible force (a) Personality Test (b) Intelligent Tests (c) Management is a dynamic function (c) Aptitude Test (d) Trade Test (d) Management is a continuous process 48. At the beginning of the new year he anticipated Read the following case/passage and answer that the company will need 30 new additional the questions from 47 to 50: persons to fill up different vacancies. Identify the first step of staffing. Mr. Vikas Goel is an H.R. Manager of “Sanduja Furniture Private Limited.” At the beginning of (a) Placement and Orientation the new year he anticipated that the company will need 30 new additional persons to fill up different (b) Training and Development vacancies. He gave an advertisement in the newspaper inviting applications for filling up different vacant (c) Recruitment posts. As many as 120 applications were received. The same were scrutinized. Out of these, conditions (d) Estimating Manpower Requirement of 15 applicants were not acceptable to the company. Letters of regret, giving reasons, were sent to them. 49. From the given lines, ‘Out of these, conditions Remaining candidates were called for preliminary of 15 applicants were not acceptable to the interview. The candidates called for were asked to company.’ Letters of regret, giving reasons, fill up blank application forms. Thereafter, they were were sent to them. Which aspect of staffing is given four tests. highlighted in the statement? The objective of the first test was to find out (a) Recruitment (b) Selection how much interest the applicant takes in his work. (c) Training (d) Education The objective of the second test was to find out ‘specialization’ of the applicant in any particular area. 50. The applicants were given four tests like intelligent test to interest test after filling Third test aimed at making sure whether the up blank application form. Identify which applicant was capable of learning through training step of selection process was followed by the or not. management. The purpose of the fourth test was to find out (a) Selection Decision how much capability a person has to mix-up with other persons, and whether he can influence other persons (b) Selection Tests and get influenced by them. (c) Job Offer (d) Medical Examination

ANSWERS Mock Test Paper – 1 1. (c) 2. (b) 3. (d) 4. (b) 5. (a) 6. (d) 7. (b) 8. (d) 14. (b) 9. (c) 10. (c) 11. (c) 12. (b) 13. (c) 22. (b) 15. (d) 16. (b) 30. (b) 17. (c) 18. (c) 19. (d) 20. (b) 21. (d) 38. (b) 23. (c) 24. (c) 46. (c) 25. (c) 26. (d) 27. (c) 28. (b) 29. (a) 31. (d) 32. (d) 33. (b) 34. (a) 35. (c) 36. (a) 37. (c) 39. (c) 40. (c) 41. (c) 42. (b) 43. (a) 44. (d) 45. (b) 47. (a) 48. (d) 49. (b) 50. (b) Mock Test Paper – 2 1. (c) 2. (c) 3. (b) 4. (d) 5. (a) 6. (c) 7. (c) 8. (c) 14. (d) 9. (d) 10. (b) 11. (a) 12. (a) 13. (c) 22. (c) 15. (c) 16. (d) 30. (a) 17. (d) 18. (a) 19. (a) 20. (d) 21. (c) 38. (c) 23. (b) 24. (b) 46. (b) 25. (a) 26. (d) 27. (b) 28. (c) 29. (a) 31. (a) 32. (a) 33. (b) 34. (d) 35. (a) 36. (b) 37. (b) 39. (d) 40. (d) 41. (b) 42. (d) 43. (d) 44. (a) 45. (a) 47. (b) 48. (c) 49. (d) 50. (c) Mock Test Paper – 3 1. (c) 2. (b) 3. (c) 4. (c) 5. (c) 6. (b) 7. (b) 8. (c) 14. (c) 9. (a) 10. (b) 11. (c) 12. (b) 13. (d) 22. (d) 15. (a) 16. (a) 30. (c) 17. (b) 18. (b) 19. (b) 20. (a) 21. (d) 38. (b) 23. (a) 24. (c) 46. (c) 25. (c) 26. (c) 27. (c) 28. (d) 29. (c) 31. (a) 32. (c) 33. (c) 34. (a) 35. (b) 36. (b) 37. (c) 39. (b) 40. (b) 41. (b) 42. (d) 43. (b) 44. (c) 45. (d) 47. (b) 48. (a) 49. (b) 50. (c) 21

M-22 BUSINESS STUDIES Mock Test Paper – 4 1. (a) 2. (a) 3. (c) 4. (c) 5. (c) 6. (b) 7. (c) 8. (c) 14. (b) 9. (c) 10. (b) 11. (b) 12. (d) 13. (d) 22. (b) 15. (b) 16. (a) 30. (d) 17. (d) 18. (c) 19. (b) 20. (d) 21. (d) 38. (c) 23. (b) 24. (d) 46. (c) 25. (c) 26. (a) 27. (c) 28. (d) 29. (c) 31. (d) 32. (c) 33. (c) 34. (d) 35. (a) 36. (b) 37. (a) 39. (a) 40. (c) 41. (b) 42. (c) 43. (a) 44. (c) 45. (d) 47. (b) 48. (c) 49. (b) 50. (d) Mock Test Paper – 5 1. (b) 2. (c) 3. (b) 4. (d) 5. (b) 6. (a) 7. (c) 8. (b) 14. (a) 9. (a) 10. (a) 11. (a) 12. (a) 13. (b) 22. (c) 15. (c) 16. (b) 30. (a) 17. (a) 18. (d) 19. (c) 20. (b) 21. (b) 38. (a) 23. (a) 24. (b) 46. (b) 25. (a) 26. (d) 27. (c) 28. (c) 29. (b) 31. (a) 32. (b) 33. (c) 34. (b) 35. (a) 36. (c) 37. (d) 39. (c) 40. (a) 41. (a) 42. (a) 43. (c) 44. (b) 45. (c) 47. (b) 48. (b) 49. (c) 50. (a)