Business Organization And Management Knowledge Test

55 Questions | By Anthzila | Last updated: Mar 21, 2022 | Total Attempts: 443

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This is the prelim exam of Management 1 - Business Organization and Management

Questions and Answers

1.

_____ is a general term, which includes all profit seeking activities of enterprises that provide goods and services necessary to an economic system.
- A.
  
  Business
- B.
  
  Profit
- C.
  
  Enterprise
- D.
  
  Entrepreneur
2.

_____ is the money that remains after a firm deducts its expenses related to producing and marketing goods and services
- A.
  
  Business
- B.
  
  Profit
- C.
  
  Capitalism
3.

What system that individuals are vested with the right to operate enterprise for private gain?
- A.
  
  Business
- B.
  
  Private Enterprise
- C.
  
  Entrepreneurship
- D.
  
  Capitalism
4.

_____ refers to that economic system in which the means of production, consisting of land and tangible goods are owned privately.
- A.
  
  Capitalism
- B.
  
  Communism
- C.
  
  Socialism
- D.
  
  Entrepreneurship
5.

Under ______, all economic resources are owned by the state.
- A.
  
  Socialism
- B.
  
  Capitalism
- C.
  
  Communism
- D.
  
  Entrepreneurship
6.

_____ is a type of system that the state only owns essential industries, but all other businesses are open for private persons.
- A.
  
  Communism
- B.
  
  Capitalism
- C.
  
  Entrepreneurship
- D.
  
  Socialism
7.

______ is a systematic process of planning, organizing, staffing and controlling of activities in an organization
- A.
  
  Management
- B.
  
  Organization
- C.
  
  Staffing
8.

This means that breaking the job down into specialized tasks to increase productivity.
- A.
  
  Authority
- B.
  
  Division of Labor
- C.
  
  Discipline
- D.
  
  Unity of command
9.

The right given to a person in position to give orders plus the power to exact obedience is refereed to as __________.
- A.
  
  Authority
- B.
  
  Division of Labor
- C.
  
  Discipline
- D.
  
  Unity of command
10.

This provides uniform application of behavior to certain activities the outcome of which is readily predicted.
- A.
  
  Authority
- B.
  
  Division of Labor
- C.
  
  Discipline
- D.
  
  Unity of command
11.

This means that each employee must have only one supervisor.
- A.
  
  Authority
- B.
  
  Division of Labor
- C.
  
  Discipline
- D.
  
  Unity of command
12.

This means that the efforts of everyone in the organization must be coordinated and focused in the same direction
- A.
  
  Unity of direction
- B.
  
  Remuneration
- C.
  
  Centralization
- D.
  
  Scalar chain
13.

Employees should be paid fairly in accordance with their contribution to the organizational effort
- A.
  
  Unity of direction
- B.
  
  Centralization
- C.
  
  Scalar chain
- D.
  
  Remuneration
14.

Power and authority must come from top to bottom.
- A.
  
  Unity of direction
- B.
  
  Centralization
- C.
  
  Scalar chain
- D.
  
  Remuneration
15.

This means that subordinates should observe chain of command unless authorized by their respective superiors to communicate with each other.
- A.
  
  Unity of direction
- B.
  
  Centralization
- C.
  
  Scalar chain
- D.
  
  Remuneration
16.

This means that human and non-human resources should be in their proper places.
- A.
  
  Order
- B.
  
  Equity
- C.
  
  Stability of tenure
- D.
  
  Initiative
17.

This is the result of kindliness and justice and is a principle to guide management-employee relations.
- A.
  
  Initiative
- B.
  
  Stability of tenure
- C.
  
  Equity
- D.
  
  Order
18.

Companies should have effective manpower planning and implementation to prevent high employee turnover.
- A.
  
  Order
- B.
  
  Equity
- C.
  
  Stability of tenure
- D.
  
  Initiative
19.

Management should encourage employees to act on their own wish when confronted with an opportunity to solve a problem.
- A.
  
  Initiative
- B.
  
  Equity
- C.
  
  Esprit de corps
- D.
  
  Order
20.

This means that managers should emphasize teamwork by building harmony and a sense of unity among employees.
- A.
  
  Initiative
- B.
  
  Equity
- C.
  
  Order
- D.
  
  Esprit de corps
21.

An entity comprising of group of people, established to accomplish certain goals is known as ______.
- A.
  
  Organization
- B.
  
  Enterprise
- C.
  
  Business
- D.
  
  Commerce
22.

When properly directed, persons working in coordination with others will produce better outputs than when they work independently.
- A.
  
  Coordination of effort
- B.
  
  Common goal or purpose
- C.
  
  Division of labor
- D.
  
  Hierarchy of authority
23.

In order for the employees work with proper direction, they must be provided with a common vision and mission.
- A.
  
  Division of labor
- B.
  
  Hierarchy of authority
- C.
  
  Coordination of effort
- D.
  
  Common goal or purpose
24.

A total job is divided into manageable parts, this characteristics is referred to as _________.
- A.
  
  Hierarchy of authority
- B.
  
  Coordination of effort
- C.
  
  Division of labor
- D.
  
  Common goal or purpose
25.

When individuals work collectively, someone must be provided with authority to make sure that assigned goals are achieved in the desired manner.
- A.
  
  Coordination of effort
- B.
  
  Hierarchy of authority
- C.
  
  Division of labor
- D.
  
  Common goal or purpose