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Business and Commerce MCQ Questions and Solutions with Explanations | Commerce

Business and Commerce MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Business and Commerce MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-7 section-3

Each section contains 100 MCQs on Business and Commerce .
61
Shares issued to the existing share holders on a pre-emptive basis is __________.
Discuss
Answer & Solution
Answer: Option B
Solution:
Shares issued to the existing share holders on a pre-emptive basis is right issue. The pre-emptive right is also called subscription right or subscription privilege.
62
Overall and strategic planning is done by the ___________.
Discuss
Answer & Solution
Answer: Option A
Solution:
Overall and strategic planning is done by the Top management. Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization's direction in response to a changing environment.
63
The Era of Scientific management is __________.
Discuss
Answer & Solution
Answer: Option C
Solution:
The Era of Scientific management is 1880 - 1932.
64
If a general manager asks the sales manager to recruit some salesman on his behalf, it is an instance of ___________.
Discuss
Answer & Solution
Answer: Option C
Solution:
If a general manager asks the sales manager to recruit some salesman on his behalf, it is an instance of Delegation of authority. Delegation of authority can be defined as subdivision and sub-allocation of powers to the subordinates in order to achieve effective results.
65
Which function is regarded as the essence of management?
Discuss
Answer & Solution
Answer: Option D
Solution:
Co-ordination is regarded as the essence of management. In other words, Co-ordination affects Planning, Organising, Staffing, Directing, Communication, Leading, Motivating and Controlling.
66
A Piece Rate System written by ___________.
Discuss
Answer & Solution
Answer: Option B
Solution:
Taylor was one of the main champions of the piece rate system in the late 19th century. Taylor's Differential Piece-Rate System was introduced by F.W. Taylor, who believed that the workers should be paid on the basis of their degree of efficiencies.
67
Which is created for technological purpose?
Discuss
Answer & Solution
Answer: Option A
Solution:
Formal organization is created for technological purpose. The formal organization is basically goal-oriented entity that exist to accurate the efforts of individuals and it refers to the structure of jobs and positions with clearly defined functions, responsibilities and authorities.
68
While delegating, a superior delegates____________.
Discuss
Answer & Solution
Answer: Option A
Solution:
While delegating, a superior delegates only authority. Delegation occurs only when the person delegating the authority himself has that authority i.e. a manager must possess what he wants to delegate.
69
The authority is decentralized in which leadership style?
Discuss
Answer & Solution
Answer: Option D
Solution:
The authority is decentralized in democratic style. Decentralization also aims at an economic and political system that responds more closely to people's preferences and requirements.
70
The managerial grid consist of how many possible leadership styles?
Discuss
Answer & Solution
Answer: Option C
Solution:
The managerial grid consist of 81 possible leadership styles. Mouton, the Managerial Grid Model helps Managers to analyze their own leadership styles through a technique known as grid training. Also, Managers can identify how they with respect to their concern for production and people with Managerial Grid Model.