FOR MORE PAPERS, GO TO VUINSIDER.

COM

MGT211 Final Term

Which of the following is/are the component/s of business?

► Industry
► Commerce
► Both industry and commerce
► Trade and aids to trade
The notice calling the annual general meeting must be given to all its members
at least _______________ days before the date of the meeting.
► 21 days
► 30 days
► 45 days
► 51 days
Communicating information between sellers and potential buyers or others in
the channel to influence attitudes and behavior is called _________________.
► Advertising
► Promotion
► Publicity
► Marketing
A product can be:
► Tangible
► Intangible
► Something that is offered for sale
► All of the given options

Page 1 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

The portion of capital kept at the winding up of a company for the payment of
debts is known as:
► Reserve capital
► Issued capital
► Subscribed capital
► Authorized capital
Which of the following statements is false?
► Franchising is very common.
► A franchise enables one to use a larger company's trade name.
► A franchisee never has to pay the franchiser a percentage of sales
revenues.
► A franchise may constrain the franchisee's independence.
Business success can be attributed to:
► Luck.
► Hard work, drive and dedication.
► A high demand for the good or service produced.
► All of the given options

A concept that implies that the firm should consider issues such as protecting
the consumer, paying fair wages, maintaining fair hiring practices, supporting
education, and considering environmental issues is:
► Financial management
► Profit maximization

Page 2 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► Social responsibility
► Agency theory
The MBTI is a personality test that has been used to select candidates who will
more likely engage in organizational citizenship behaviors at work.
However, critics of this test suggest that the results can change over time as a
person's personality develops. Therefore the MBTI personality test may be:
► Legal but not valid
► Valid but not reliable
► Reliable but not valid
► Reliable but not legal
__________ is the process used by organizations to attract a qualified pool of
job applicants.
► Socialization
► Human resource planning
► Recruitment
► Affirmation action
Profit sharing, gain sharing and pay-for-knowledge plans are examples of:
► Individual incentives
► Company-wide incentives
► Cafeteria benefit plans
► Merit salary systems
Which of the following statements is NOT true about services?

Page 3 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► They are experienced, used or consumed.

► They are often sold first, then consumed.
► They are perishable.
► They are tangible.

Possession utility is provided when:

► A good or service is obtained and there is a right to use or consume it.
► A product is available where someone wants it.
► Someone performs a task for someone else
► Someone produces something tangible
___________ includes all of the activities managers engage in to forecast their
current and future human resource needs.
► Recruitment and selection
► job analysis and job design
► Selection and job design
► Human resource planning
Specifications of a product relate to the:
► Physical characteristics and level of quality
► Types of service that are provided along with the product
► Financing available with the product
► Types of competitors offering a similar product
Consumer goods are classified as convenience, shopping, and:
► Durable.

Page 4 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► Nondurable.
► Consumer.
► Specialty.
The stage of the Product life cycle where competitors appear is:
► Introduction
► Decline
► Maturity
► rowth
The financial statement which shows cash activity (receipts and disbursements)
during the accounting period is called a(n):
► Bank statement.
► Income statement.
► Statement of cash flows.
► Bank reconciliation.
Which of the following regarding AAP is true?
► AAP is the body of accounting knowledge followed by all countries in the
world.
► AAP is the abbreviation for generally accepted auditing procedures.
► Changes to AAP must be approved by the Senate Finance Commission.
► All of the given options.
The inventory cost flow assumption where the oldest cost of inventory items is
likely to remain on the balance sheet is______________

Page 5 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► All of the given options.

► FIFO
► LIFO
► Average
Which of the following would generally have unlimited liability?
► A limited partner in a partnership
► A shareholder in a corporation
► The owner of a sole proprietorship
► A member in a limited liability company (LLC)
Expectations that specify the role of price in a firm's marketing and strategic
plans are:
► Pricing considerations
► Pricing guidelines
► pricing objectives
► Pricing policies
Setting the highest initial price is called price:
► Penetration
► ouging
► Parity
► Skimming

Page 6 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

Which type of sales promotion is used when a manufacturer places one small
bottle of shampoo in a clear bag and hangs it from the door of each house in a
neighborhood?
► A sample
► A deal
► A premium
► An introductory offer

The activities and processes used in making both tangible and intangible
products is known as _____________.
► Operations.
► None of the given options
► Making
► Production.
Under which cost flow assumption is the ending inventory composed of the
earliest purchased merchandise?
► FIFO
► LIFO
► Average cost
► Specific identification
The preferred method for achieving total quality in process output is to:
► Rely on a team of highly trained and dedicated inspectors.
► Rely on operator self-inspection and self-correction.

Page 7 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► Build and install an error-proof process and maintain it.

► Perform inspection at the next process.
What is data?
► All of the facts that are collected, stored, and processed by an information
system.
► All of the debit and credit information about each transaction.
► The same thing as information.
► All of the given options.
Which of the following is defined as large scale information system used for
organizing and managing a firm’s processes across product lines, departments
and geographic locations?
► Expert System
► Decision Support System
► Enterprise Resource Planning
► Electronic Data Interchange

The situation when a country imports more than its exports is:
► A trade surplus.
► A recession.
► A trade deficit.
► An expansion.

The marketing environment is BEST described as being Composed of

controllable
Page 8 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► variables.
► Composed of variables independent of one another.
► An indirect influence on marketing activity.
► Dynamic and changing.
Which one of the following statements by a company chairman best reflects the
marketing concept?
► We believe that the marketing department must organise to sell what we
produce.
► We try to produce only high quality, technically efficient products.
► We try to encourage company growth.
► We have organised our business to make certain that we satisfy customer
needs.
Which of the following statements is most suitable for Quality assurance?
► It refers to the prevention of product defects
► It is an auditing function that provides feedback to the project team and client
about the quality of output being produced
► It is the technical process that includes the construction of control charts
► None of the given options
Which of the following is considered as the pillar of quality?
► Quality is free
► Doing it right the first time
► Process improvement

Page 9 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► None of the given options

A person needs to buy a medicine in midnight and gets it from a pharmacy, the
availability of medicine in the midnight represents following
► Time utility
► Form utility
► Place utility
► None of the given options
When Nayer Carpets develops new carpets that are highly stain resistant and
durable, it must educate consumers about the product's benefits. This calls for
activity in which of the following marketing mix variables?
► Price
► Promotion
► Product
► Packaging
The three major categories of influences that are believed to influence the
consumer buying decision process are personal, psychological, and:
► Person-specific
► Social
► Demographic
► Situational
Nestle yoghurt represents which type of product for most consumers?
► Convenience

Page 10 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► Shopping
► Speciality
► Unsought

a metal cutting machine. What you have purchased can best be classified as a
processed
► component.
► a component part.
► raw material.
► an industrial product.
Physical distribution functions influence
► primarily pricing and product decisions.
► primarily promotion and pricing decisions.
► all elements of the marketing mix.
► primarily pricing decisions.
All elements of the marketing mix are influenced by physical distribution
functions. For this reason, it is important for marketers to remember that
► physical distribution decisions must be made prior to any other marketing
strategy consideration.
► physical distribution costs often rise as customer service requirements
decrease.
► over 75 percent of all marketing costs are associated with physical distribution
expenditures.

Page 11 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► no single distribution system is ideal for all situations and target markets.
A fruit and vegetable wholesaler buys a loaded truck of strawberries from a
local farmer and then divides them into 10 kg baskets to sell to grocery stores.
This sorting function is called:
► Allocation.
► assorting.
► accumulation.
► sorting out.
A product's ability that it cannot be used for various purposes in different
capacities and under different conditions is termed as_____
► Flexibility of a product
► Inflexibility of a product
► Availability of a product
► All of the given options

Flow of communication from top to bottom is known as_______

► Downward communication
► Upward communication
► Combination of Downward and upward communication
► None of the given options
Auditors who are working within the organization are known as_______
► Internal auditors
► External auditors

Page 12 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

► Both internal auditors and external auditors

► None of the given options

Assets which can not be physically touched are termed as___________

► Intangible assets
► Tangible assets
► ood will
► None of the given options
Profit and loss account is also termed as ___________
► Income statement
► Balance sheet
► Trial Balance
► None of the given options
Which of the following are included in a business plan? Financial information,
production plans,
 personal policies.
 Goals of the business and how they will be achieved.
 Market analysis
 All of the given options.

Which of the following is not a reason for a business failure?

 Managerial experience or inexperience

 Effective control systems

Page 13 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

 Insufficient control system

 None of the given options
In which of the following two or more organizations collaborate on a project for
mutual gain?
 Limited partnership
 Public corporation
 Strategic alliance
 None of the given options
The difference between a country's merchandise exports and its merchandise
imports is the:
 Current account
 Capital account
 Balance of trade
 Balance of payments
One of the best solutions to get rid of non-biodegradable wastes is:
 Dumping
 Recycling
A plan or an estimate for future expenses and revenues is termed as_________
► Budgeting
► Balance sheet
► Income statement
► None of the given options

Page 14 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

Which of the following must hold a statutory meeting?

 Statutory companies
 Private limited companies
 Public limited companies
Chartered companies
Which of the following is NOT included in aids to trade?
 Insurance
 Warehousing
 Transportation
 Foreign trade
The portion of capital kept at the winding up of acompany for the payment of
debts is known as:
 Reserve capital
 Issued capital
 Subscribed capital
 Authorized capital
Which of the following business type can avail some concessions from the
government?
 Sole proprietorship
 Partnership
 Joint Stock company
 Cooperative society

Page 15 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

While making financial projections in a business plan, which of these would NOT
form part of the plan?
 Source of loan
 Audit
 Net income or profit
 Expected revenues
The MBTI is a personality test that has been used to select candidates who will
more likely engage in organizational citizenship behaviors at work. However,
critics of this test suggest that the results can change over time as a person's
personality develops.
Therefore the MBTI personality test may be:
 Legal but not valid
 Valid but not reliable
 Reliable but not valid
 Reliable but not legal
According to Maslow's hierarchy of needs, a person who buys a motion
detector/burglar alarm for her house is motivated to do so in an attempt to
fulfill the following need:
 Esteem
 Security
 Social
 Self-actualization

Page 16 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

What is potentially the biggest advantage of a small partnership over a sole

proprietorship?
 Unlimited liability
 Single tax filing
 Difficult ownership resale
 Raising capital
Which of the following is the oldest form of business organization?
 Sole proprietorship
 Partnership
 Company
 Cooperative society
Which of the following is an advantage of a corporation that is not an advantage
as a limited partner in a partnership?
 Limited liability
 Easy transfer of ownership position
 Double taxation
 All of the given options are advantages that the corporation has over
limited partner
Examples of constructive industries include:
 Canals
 Fishery
 Sugar mills

Page 17 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

 Plant nurseries

Douglas McGregor is associated with which of the following?

 Scientific management
 Motivational factors
 Theory X and theory Y
 The Hawthorne studies
Which step in Maslow's Hierarchy of Needs Theory deals with achieving one's
potential?
 Safety
 Self actualization
 Physiological
 Social
The term "Job Rotation": Is another term for employee empowerment?
 Involves allocating a wider range of similar tasks to individuals
 Involves giving employees work with a greater degree of responsibility and
autonomy
 Means that staff is moved periodically from task to task in order to increase
variety and interest.
Which of the following generic terms is not a management function?
 Leading
 Systemizing
 Planning

Page 18 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

 Organizing

Increases in the degree of responsibility a worker has over his or her job is
referred to as job:
 Empowerment
 Enlargement
 Enrichment
 Entitlement
ABC Company is currently hiring employees from different countries. ABC
Company is said to be implementing _____ strategy.
 Decentralization
 Downsizing
 Workforce diversity
 Retrenchment
Which of the following statement shows the Trade Deficit process?
 A process in which country imports are higher than the exports
 A process in which country exports are equal to the exports
 A process in which country imports are less than the country exports
 All of the given options
Name of the business should:
 Be simple
 Indicates the type of business
 Be familiar

Page 19 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

 All of the given options

Hormel Foods Corporation in the USA allows the Danish company Tulip
International to produce and market SPAM for the UK market under its own
name. What kind of market entry strategy is Hormel using?
 Licensing
 Joint venturing
 Contracting
 Franchising
Person needs to buy a medicine in midnight and gets it from a pharmacy, the
availability of medicine in the midnight represents following
 Time utility
 Form utility
 Place utility
 None of the given options
Flow of communication from top to bottom is known as_______
 Downward communication
 Upward communication
 Combination of Downward and upward communication
 None of the given options

Questions:

Page 20 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

 Explain the nature and general purpose of financial statements.

 What do you mean by the term “utility”? What are the different forms of
utility?
 Describe the steps involved in designing an advertising campaign.
 Quality costs are the costs associated with preventing, finding and
correcting defective work. Describe the various types of quality costs in
detail.
 Explain how companies find and develop new-product ideas
 Write a detailed note on the following:
1) Balance sheet
2) Income statement
 What is meant by the term ‘Just-in-Time’ Inventory system?
 Explain product life cycle in detail.
 Explain the terms “Brand Equity” and “Brand Awareness”.
 Define the term “Enterprise Resource Planning”.
 What is meant by the term ‘Just-in-Time’ Inventory system?
 Define liabilities and distinguish between current and long-term liabilities.
 What steps are involved in buying decision process?
 Define channel of communication, discuss different types of channels of
business communication.
 What is meant by “Physical Distribution”? What are the different
transportation modes used for physical distribution of products?

Page 21 of 22
For more papers, go to VUInsider.com
 FOR MORE PAPERS, GO TO VUINSIDER.COM

MGT211 Final Term

 Define sales promotion and describe its methods.

 Define information system and discuss the types of information systems
used in the organizations
 Consumer products can be categorized on the basis of shopping habits.
Explain this classification with examples.
 Differentiate between push and pull strategies for promotion.
 Define the term “Material Management”. What are the problems faced
by materials managers in today’s world?
 In order to offer more satisfactory services, many companies have
discovered criteria that customers use to judge service quality. What is
this criterion in perspective to company?
 Marketers operate in an increasingly connected world and environment
continues to change at a rapid pace. Identify the major trends in the
firm’s natural and technological environments.

Page 22 of 22
For more papers, go to VUInsider.com