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180 PMP Practice Questions (2021 Edition)

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Stay on Track for the PMP® Exam with 180 Practice Questions. This document may be freely printed, copied and distributed for private and commercial use, as long as the layout, contents and the copyright notes remain unchanged. Items (questions with answering options) from this document may be copied and discussed in public forums and Internet discussion groups as long as the source is correctly stated. In such case please inform the author to allow his contribution to the discussion, if necessary.

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BUSINESS STUDIES TOPIC BY TOPIC QUESTIONS AND ANSWERS

Business studies topic by topic questions and answers, you can download all the business studies questions and answers for all topics for form 1, form 2, form 3 and form 4., the list includes all questions with their answers. use  the links below. click on  a link to a specific material., warehousing q, warehousing ans, transport q, transport ans, the theory of the firm q, the theory of the firm ans, the office q, the office ans, the ledger q, the ledger ans, source documents and books of original entry q, source documents and books of original entry ans, satisfaction of human wants q, satisfaction of human wants ans, public finance q, public finance ans, production q, production ans, product promotion q, product promotion ans, product market q, population and employment q, population and employment ans, national income q, national income ans, money and banking ans, money and bankin q, managing a business q, managing a business ans, international trade q, international trade ans, insurance q, insurance ans, inroduction to business studies q, inroduction to business studies ans, inflation q, inflation ans, incomplete records q, incomplete records ans, home trade q, home trade ans, government and business q, government and business ans, forms of business units q, forms of business units ans, financial statements q, financial statements ans, enterpreneurship q, enterpreneurship ans, economic development and planning q, economic development and planning ans, determining the net worth of business q, determining the net worth of business ans, demand and supply q, demand and supply ans, communication q, communication ans, chain of distribution q, chain of distribution ans, cash book q, cash book ans, business and its environment q, business and its environment ans.

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BUSINESS STUDIES TOPIC BY TOPIC QUESTIONS AND ANSWERS COVERED INCLUDES;

• WAREHOUSING QUESTIONS
• WAREHOUSING ANSWERS
• TRANSPORT QUESTIONS
• TRANSPORT ANSWERS
• THE THEORY OF THE FIRM QUESTIONS
• THE THEORY OF THE FIRM ANSWERS
• THE OFFICE QUESTIONS
• THE OFFICE ANSWERS
• THE LEDGER QUESTIONS
• THE LEDGER ANSWERS
• SOURCE DOCUMENTS AND BOOKS OF ORIGINAL ENTRY QUESTIONS
• SOURCE DOCUMENTS AND BOOKS OF ORIGINAL ENTRY ANSWERS
• SATISFACTION OF HUMAN WANTS QUESTIONS
• SATISFACTION OF HUMAN WANTS ANSWERS
• PUBLIC FINANCE QUESTIONS
• PUBLIC FINANCE ANSWERS
• PRODUCTION QUESTIONS
• PRODUCTION ANSWERS
• PRODUCT PROMOTION QUESTIONS
• PRODUCT PROMOTION ANSWERS
• PRODUCT MARKET QUESTIONS
• POPULATION AND EMPLOYMENT QUESTIONS
• POPULATION AND EMPLOYMENT ANSWERS
• NATIONAL INCOME QUESTIONS
• NATIONAL INCOME ANSWERS
• MONEY AND BANKING ANSWERS
• MONEY AND BANKIN QUESTIONS
• MANAGING A BUSINESS QUESTIONS
• MANAGING A BUSINESS ANSWERS
• INTERNATIONAL TRADE QUESTIONS
• INTERNATIONAL TRADE ANSWERS
• INSURANCE QUESTIONS
• INSURANCE ANSWERS
• INRODUCTION TO BUSINESS STUDIES QUESTIONS
• INRODUCTION TO BUSINESS STUDIES ANSWERS
• INFLATION QUESTIONS
• INFLATION ANSWERS
• INCOMPLETE RECORDS QUESTIONS
• INCOMPLETE RECORDS ANSWERS
• HOME TRADE QUESTIONS
• HOME TRADE ANSWERS
• GOVERNMENT AND BUSINESS QUESTIONS
• GOVERNMENT AND BUSINESS ANSWERS
• FORMS OF BUSINESS UNITS QUESTIONS
• FORMS OF BUSINESS UNITS ANSWERS
• FINANCIAL STATEMENTS QUESTIONS
• FINANCIAL STATEMENTS ANSWERS
• ENTERPRENEURSHIP QUESTIONS
• ENTERPRENEURSHIP ANSWERS
• ECONOMIC DEVELOPMENT AND PLANNING QUESTIONS
• ECONOMIC DEVELOPMENT AND PLANNING ANSWERS
• DETERMINING THE NET WORTH OF BUSINESS QUESTIONS
• DETERMINING THE NET WORTH OF BUSINESS ANSWERS
• DEMAND AND SUPPLY QUESTIONS
• DEMAND AND SUPPLY ANSWERS
• COMMUNICATION QUESTIONS
• COMMUNICATION ANSWERS
• CHAIN OF DISTRIBUTION QUESTIONS
• CHAIN OF DISTRIBUTION ANSWERS
• CASH BOOK QUESTIONS
• CASH BOOK ANSWERS
• BUSINESS AND ITS ENVIRONMENT QUESTIONS
• BUSINESS AND ITS ENVIRONMENT ANSWERS

Click on the items in the box on the top to download the business topical (topic by topic) questions and answers.

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25 Important Planning and Decision-Making Questions and Answers [With PDF]

The 3 rd chapter of our Management learning course is “Planning and Decision-making”. In this article, we’ll learn the 25 most important planning and decision-making questions and their answers.

It will help you understand the important planning and decision-making terms and their explanations quickly.

You can read the two chapters of our management learning course here if you missed them.

• 25 Important Introduction to Management Questions and Answers [With PDF]
• 25 Important Management Principles Questions and Answers [With PDF]

By reading this post, you may quickly prepare for management courses and for any competitive tests such as school and college exams, vivas, job interviews, and so on.

So let get started…

Planning and Decision-Making Questions and Answers

The 25 important Planning and decision-making questions and answers are as follows:

Question 01: What is planning?

Answer: Planning is a reflection of future activities that have been predetermined. The primary objective of planning is to determine what will be done in the future.

Question 02: What are the Features of Planning?

Answer: The important features of planning are as follows:

• The first and most important task of management is planning.
• The planning is concerned with contemplation.
• Planning always entails forecasting the future.
• The plan is always developed with a specific purpose or goal in mind.
• When developing a strategy, you must consider what has happened in the past.

Question 03: What Characteristics Characterize a Good Plan?

Answer: The following are the characteristics that a plan must possess in order to be considered a good plan:

• Specified goal
• Grounded in reality
• Acceptability
• Appropriate direction
• Coordination and interconnection
• Flexibility

Question 04: What are the Six Steps of Planning?

Answer: The six steps of planning are as follows:

• Evaluating future
• Setting a goal
• Identifying the alternatives
• Evaluation of alternatives
• Choosing the most suitable alternatives
• Making preparations for derivative plans

Question 05: Which factors should be considered when developing a plan?

Answer: The following factors must be considered when developing a plan:

• Objects of organization
• Subordinates’ qualities and working conditions
• The previous plan’s effectiveness
• The organization’s current problems and future prospects
• Competitor’s condition
• Organizational financial and other capabilities
• A country’s economic and political situation.

Question 06: What is the Importance of Planning?

Answer: The importance of planning is as follows:

• The accomplishment of organizational goals
• Development and expansion of business
• Minimization of cost and wastage
• Effective utilization of resources
• Following the proper course of action
• Execution of other managerial responsibilities

Question 07: What are the Limitations of Planning?

Answer: The important limitations of planning are as follows:

• Problems in premising
• Time-consuming
• Mental hazard
• Obstacle to initiative
• Problem in correction
• Inability to resolve external problems

Question 08: What are the Types of Plans?

Answer: The types of plans are as follows:

Based on Nature:

• Standing plan
• Single-use plan

Based on Time Period:

• Short term Plan
• Mid-term plan
• Long-term plan

Based on Organization Structure:

• Strategic plan
• Functional plan

Question 09: What is Planning Premises?

Answer: The condition through which the adopted plan will be implemented is called the planning premises.

Question 10: What is a Single-Use Plan?

Answer: A plan that is made for a single purpose or one use is called a single-use plan.

Question 11: What is Standing Plan?

Answer: A plan that is used repeatedly in an organization until a new situation arises is called a standing plan.

Question 12: What is an Objective?

Answer: Objective is the intended goal around which activities are conducted.

Question 13: What is Mission?

Answer: Mission is the goal. The mission is the basic work that the organization will be conducted to perform.

Question 14: What is a Short-term Plan?

Answer: Plan generally accepted for a period of one year or less is called a short-term plan.

Question 15: What is a Mid-term Plan?

Answer: A plan adopted for a period of more than one year and a maximum of five years is called a mid-term plan.

Question 16: What is a Long-term Plan?

Answer: A plan adopted for any period of more than five years is called a long-term plan.

Question 17: What is Strategic Plan?

Answer: Strategic planning is the implementation of a long-term decision-making plan in order to achieve goals in a highly competitive market.

Question 18: What is a Functional Plan?

Answer: In terms of organizational strategic planning, the short-term implementation plan that is adopted at the middle and lower levels of the organization is referred to as a functional plan.

Question 19: What is a Master Plan?

Answer: An overall or master plan is a plan that combines the plans of all departments or regions of an organization.

Question 20: What is Decision Making?

Answer : Decision-making is the process of selecting the best option from a variety of alternatives to solve a problem or take action.

Question 21: What is the Process of Decision Making?

Answer: The process of decision making is as follows:

• Identifying and defining a plan
• Determination of priority
• Collection of data and information
• Generation of alternatives
• Choosing the best alternative

Question 22: What are the Associate Elements of Decision Making?

Answer: The associate elements of decision making are as follows:

• Judgment power and intuition
• Systematic thought
• Experience and skill
• Information
• Power and authority
• Organizational capacity
• Opportunity of participation

Question 23: Which Factors Should be considered in Decision Making?

Answer: The following factors should be considered in decision making:

• The Nature of the problem
• The Future condition
• Received information
• Decision goal
• Degree of cooperation
• Receivable time

Question 24: What are the Problems of taking Decisions and their Implementation?

Answer: The problems of taking decisions and their implementation are as follows:

• Inaccurate or incomplete information
• Incorrect identification of problems or alternatives
• The influence of emotion
• Inadequacy of input variables
• Lack of co-operation

Question 25: What are the Ways of Solving Problems in Taking Decisions and Its Implication?

Answer: The followings are the ways of solving problems in taking decisions and their implications:

• Gathering the necessary information
• Choosing appropriate alternatives
• Making timely decisions
• Consulting with concerned parties
• Informing decision-makers
• Providing necessary assistance.

I hope that by the end of this post, you have a good understanding of the “Planning and decision-making” chapter.

You will gain a better understanding of the “planning and decision-making” chapter if you read these 25 important planning and decision-making questions and answers on a regular basis.

You can also read:

• 30 Important Organizing Questions and Answers [With PDF]
• 25 Important Staffing Questions and Answers [With PDF]
• 20 Important Leadership Questions and Answers [With PDF]
• 20 Important Direction Questions and Answers [With PDF]

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TOP-50 Questions on Business Awareness for all Competitive Exams

Latest and Most Important Questions on Business Awareness to crack all Competitive Exams. Download the PDF and go through the video explanations of the most important questions on business Awareness and practice them by downloading the PDF provided below. Feel free to visit our website to get access to the free content.

Download Top-50 Business Awareness Questions PDF

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 Read this Post in Hindi

Question 1:  Kingfisher Airlines’ first international flight was connecting which two cities ______ ?

a) Bengaluru with London

b) Mumbai with New york

c) Delhi with Toronto

d) Chennai with Melbourne

e) None of these

Question 2:  Who provides assistance to small industries?

a) EXIM bank

b) National Housing Bank

d) None of the above

Question 3:  Other than the government, which company has the highest share in State Bank of India?

d) Procter and Gamble

Question 4:  Amul related to what ?

a) Green Revolution

b) Pink Revolution

c) White Revolution

Question 5:  Tata group joined which airlines?

a) Kingfisher Airlines

b) Jet Airways

c) Emirates Airlines

d) Air Asia

Question 6:  What was the amount of money(in crores) involved in deal between RIL & Network 18 ?

a) 1000 Crores

b) 4000 Crores

c) 2000 Crores

Question 7:  Amul set up a dairy worth 200 cr in which city?

a) Ahmedabad

b) Amritsar

d) Varanasi

Question 8:  FLIPKART is which kind of company?

a) E-Tailer

b) Investment Firm

c) Pharmaceutical

d) E-Commerce

Question 9:  Where is the headquarters of the Tea Board of India Situated?

a) Darjeeling

Question 10:  Which bank coined the term ‘BRICS’ as a short form for the five countries Brazil, Russia, India, China and South Africa?

a) HSBC Bank

b) Goldman Sachs

c) Merril Lynch

d) Barclays Capital

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Question 11:  Which country is the multi national company Samsung originally from?

a) South Korea

b) North Korea

Question 12:  In which year was SpiceJet Airlines started?

Question 13:  In terms of nominal GDP, which Indian state is the leader (with twice as much GDP as the No. 2 state)?

a) Maharashtra

b) Rajasthan

e) Karnataka

Question 14:  The youngest CEO in India is a resident of which city?

a) Bangalore

e) Hyderabad

Question 15:  The phrase used by Adam Smith to define an economy’s ability to correct itself is?

a) ‘Self controlling prophecy’

b) ‘The Invisible Hand’

c) ‘Circle of Economy’

d) ‘Hand of God’

Question 16:  Who is the chairman of Reliance Industries Limited (RIL)?

a) Dhirubhai Ambani

b) Anil Ambani

c) Isha Ambani

d) Mukesh Ambani

Question 17:  The World Future Energy Summit was organised in

a) Abu Dhabi

b) New Delhi

Question 18:  Which is the tax that takes away a higher proportion of one’s income as the income rises?

a) Securities Transaction Tax

b) Progressive tax

c) Service tax

d) Customs tax

Question 19:  Corporate tax is also know as___?

a) Legal tax

c) Company tax

d) Industrial tax

Question 20:  Poverty line is also called the …

a) dollar-a-day line

b) euro-a-day line

c) pound-a-day line

d) rupee-a-day line

Question 21:  In which Indian state did the Japanese company Suzuki recently pledge to invest around Rs. 6000 crores?

b) Andhra Pradesh

c) Telangana

d) West Bengal

e) Tamil Nadu

Question 22:  Which famous car company has decided to shut down its Indian operations (by 2017 end) due to rising losses?

d) General Motors

Question 23:  Who is the highest tax payer of Jharkhand?

a) Priyanka Chopra

b) Yashwant Sinha

c) Amitabh Bachchan

d) Aishwarya Rai

e) MS Dhoni

Question 24:  What was the full form of WIPRO when it was incorporated?

a) World Intellectual Property Rights Organization

b) Working India Public Relations Organization

c) Western India Palm Refined Oil

d) Wide Indian Products and Railway Organization

e) World Internet Protocol Recruitment Organization

Question 25:  Which is the largest Indian Company based on market capitalization?

a) Reliance

Question 26:  Which Indian state has the highest percentage of people under poverty line?

d) Chattisgarh

Question 27:  What was the price at which Microsoft recently acquired Linkedin?

a) 19.8 billion dollars

b) 152 billion dollars

c) 7.8 billion dollars

d) 15.2 billion dollars

e) 26.2 billion dollars

Question 28:  India’s largest oil and gas exploration company, ONGC is classified as a …

a) Navratna

b) Miniratna Category 1

c) Miniratna Category 2

d) Maharatna

Question 29:  In which year was the World Bank formed?

Question 30:  How many quarters should a country’s GDP decline for it to be officially categorized as recession?

Question 31:  Lifebuoy is a brand of soap marketed by which of the following companies?

b) Procter & Gamble

d) Unilever

Question 32:  The contribution to the Indian GDP is the highest from which sector?

a)  Agriculture and allied

b) Industry

c) Services

d) Imports and Exports

Question 33:  To qualify for a “golden handshake”, the person must certainly be a/an ….

a) Businessmen

b) New Recruit

c) Senior Manager

d) Policeman

e) Ex-employee

Question 34:  What is the name of the Smart car launched by TATA motors?

Question 35:  Which is the largest Indian Company based on market capitalization?

Question 36:  India’s largest oil and gas exploration company, ONGC is classified as a …

Question 37:  “Making Tomorrow brighter” is the slogan of which of the following companies?

Question 38:  When demand for a product decreases and the supply increases, the price of the product ….

a) increases

b) decreases

c) remains constant

d) initially increases and then decreases

Question 39:  Entertainment tax on movies is a tax collected by ..

a) Central Government

b) State Government

c) Local Bodies

d) (a), (b) or (c) depending the the location.

e) (a), (b) or (c) depending the the language of the movie

Question 40:  Where is the head office of The Hindu English daily news paper located ?

c) Hyderabad

d) Bangalore

Question 41:  In which city are the headquarters of International Monetary Fund?

a) Washinton DC

b) New York

Question 42:  Which cost is related to marginal cost?

a) Variable Cost

b) Implicit Cost

c) Prime Cost

d) Fixed Cost

Question 43:  Who is the present CEO (Chief Executive Officer) and president of the financial services company, Mastercard?

a) Indra Nooyi

b) Rajeev Suri

c) Ajaypal Singh Banga

d) Amar Bose

Question 44:  Tata Iron And Steel company (TISCO) was incorporated in:

Question 45:  Saffola is one of the leading brands that encourage you to live healthier. It has edible oils, oats, masala oats and salt. Saffola is owned by ________.

a) GlaxoSmithKline

b) Reckitt Benckiser

c) Hindustan Unilever

d) Procter & Gamble

Question 46:  Which company makes the fighter aircraft ‘Rafale’ ?

a) Dassault Aviation

b) Lockheed Martin

c) Northrop Grumman

d) Hawker Beechcraft

Question 47:  What does the letter ‘C’ denote in the term ‘CSR’ as seen frequently in financial newspapers?

b) Corporate

c) Confidence

d) Committee

Question 48:  Xiaomi tied up with Foxconn to establish its plant in which state?

a) Andhra Pradesh

b) Maharashtra

d) Tamil Nadu

Question 49:  Which company has sponsored for coins bearing Sachin Tendulkar ?

a) East India Company

b) Reliance

Question 50:  The product ‘Fair and Lovely’ is related to-

c) P&G;

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Answers & Solutions:

1) Answer (A)

2) Answer (C)

3) Answer (C)

LIC has 15% stake in SBI

4) Answer (C)

5) Answer (D)

6) Answer (B)

7) Answer (D)

8) Answer (D)

9) Answer (C)

10) Answer (B)

11) Answer (A)

12) Answer (C)

SpiceJet founded on May 2005. Its present CEO is Ajay Singh(as of September 2017).

13) Answer (A)

14) Answer (B)

15) Answer (B)

16) Answer (D)

17) Answer (A)

18) Answer (B)

A progressive tax is a tax in which the tax rate increases as the taxable amount increases. The term “progressive” refers to the way the tax rate progresses from low to high, with the result that a taxpayer’s average tax rate is less than the person’s marginal tax rate.

19) Answer (C)

20) Answer (A)

21) Answer (A)

Suzuki Motor Corporation is the Japanese parent of Maruti Suzuki India (MSI), country’s top automaker.

22) Answer (D)

General Motors Company, commonly known as GM, is an American multinational corporation headquartered in Detroit, Michigan, that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services.

23) Answer (E)

24) Answer (C)

25) Answer (B)

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26) Answer (D)

27) Answer (E)

28) Answer (D)

Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company headquartered in Dehradun, Uttarakhand, India.

29) Answer (D)

30) Answer (C)

31) Answer (D)

Lifebuoy is a brand of soap marketed by Unilever. Lifebuoy was originally, and for much of its history, a carbolic soap containing phenol (carbolic acid, a compound extracted from coal tar). The soaps manufactured today under the Lifebuoy brand do not contain phenol. Currently there are many variants of Lifebuoy.

32) Answer (C)

33) Answer (E)

A stipulation in an employment agreement which states that the employer will provide a significant severance package if the employee loses their job. A golden handshake is usually provided to top executives for loss of employment through layoffs, firing or even retirement. Payment can be made several ways, such as cash, or stock options.

34) Answer (A)

35) Answer (A)

36) Answer (D)

37) Answer (B)

38) Answer (B)

39) Answer (B)

40) Answer (E)

41) Answer (A)

42) Answer (A)

43) Answer (C)

44) Answer (B)

45) Answer (E)

Marico owns Saffola along with many brands Kaya Limited, Parachute, Saffola, Hair&Care, Nihar, Mediker, Revive, Manjal, Livon, Set Wet, Zatak, Fiancee, HairCode, Eclipse, X-Men, Hercules, Caivil, Code 10 and Black Chic.

46) Answer (A)

47) Answer (B)

48) Answer (A)

49) Answer (A)

50) Answer (D)

We hope this Important Business Awareness Questions for All Competitive  Exams will be highly useful for your preparation.

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