Business Management Principles Quiz
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Questions and Answers

What is considered as business management rule #1?

  • Individual control
  • Micro-management
  • Centralization
  • Delegation (correct)

    • Which of the following is NOT a part of management according to the text?

  • Planning
  • Organizing
  • Controlling
  • Budgeting (correct)

    • What does business administration involve?

  • Medical management
  • Financial speculation
  • Legal proceedings
  • Administration of a commercial enterprise (correct)

    • What does corporate finance provide a framework for?

    <p>Corporate funding</p> Signup and view all the answers

    What is the primary purpose of management according to the text?

    <p>Accomplishing goals efficiently and effectively</p> Signup and view all the answers

    What is the primary function of controlling in an organization?

    <p>Ensuring activities are performed as per plans</p> Signup and view all the answers

    Who needs to perform the controlling function in an organization?

    <p>Managers at all levels of management</p> Signup and view all the answers

    Where is controlling function considered important according to the text?

    <p>Educational institution, military, hospital, and business organization</p> Signup and view all the answers

    What does controlling ensure about an organization's resources?

    <p>Being used effectively &amp; efficiently for the achievement of predetermined goals</p> Signup and view all the answers

    What is the purpose of the controlling function?

    <p>To seek planned results from the subordinates</p> Signup and view all the answers

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