English-I and Principles of Management Quiz
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Questions and Answers

Which Government of India Act established the bicameral system of legislature at the Centre?

  • Government of India Act of 1900
  • Government of India Act of 1853
  • Government of India Act of 1935
  • Government of India Act of 1919 (correct)

    • The Legal Practitioner's Act of 1853 provided for the enrolment of Advocates, Vakils, and Attorneys.

    True

    What was the purpose of the Charter of 1874 in relation to the legal profession?

    To organize the legal profession.

    The Federal Assembly and the Council of States were part of the Government of India Act of ________.

    <p>1935</p> Signup and view all the answers

    Match the following legal terms with their definitions:

    <p>Advocate = A professional who pleads cases in court Vakil = A legal adviser or representative Attorney = A person appointed to act for another in legal matters Charter = A written document that establishes an organization or rights</p> Signup and view all the answers

    What is a distinguishing feature of a joint stock company?

    <p>Ownership divided among shareholders</p> Signup and view all the answers

    The purpose of article of association is to outline the rules and regulations of a company's internal affairs.

    <p>True</p> Signup and view all the answers

    What is the primary purpose of 'contingency planning'?

    <p>To prepare for unexpected events or emergencies.</p> Signup and view all the answers

    In _____, the ownership is held by a single individual who is solely responsible for the business.

    <p>sole proprietorship</p> Signup and view all the answers

    Match the following terms with their correct definitions:

    <p>Partnership = A business owned by two or more individuals with shared profits. Cooperative Society = An organization owned and operated by a group of individuals for their mutual benefit. Public Company = A company that offers its shares to the general public, usually through a stock exchange. Private Company = A company owned privately with smaller numbers of shareholders.</p> Signup and view all the answers

    Which of the following is NOT a type of sentence transformation discussed?

    <p>Imperative</p> Signup and view all the answers

    Management is solely considered an art and is not recognized as a science.

    <p>False</p> Signup and view all the answers

    Name one key contributor to management thought.

    <p>Fredrick Taylor or Henri Fayol.</p> Signup and view all the answers

    Which of the following is NOT a type of organizational structure?

    <p>Delegated Structure</p> Signup and view all the answers

    Decentralization refers to the concentration of decision-making authority at a single point in an organization.

    <p>False</p> Signup and view all the answers

    What is the primary difference between authority and power?

    <p>Authority is officially sanctioned power within an organization, while power can exist without formal recognition.</p> Signup and view all the answers

    Which type of inflation is caused by increased demand outpacing supply?

    <p>Demand-pull inflation</p> Signup and view all the answers

    A bank reconciliation statement is prepared to identify discrepancies between the cash book and the bank statement.

    <p>True</p> Signup and view all the answers

    According to Maslow's theory, the highest level of needs in the need hierarchy is __________.

    <p>self-actualization</p> Signup and view all the answers

    Match the following theories of leadership with their corresponding descriptions:

    <p>Trait Theory = Focuses on personality characteristics of successful leaders Behavioral Theory = Examines specific behaviors of leaders Contingency Theory = Suggests that the effectiveness of a leader depends on the situation Transformational Theory = Emphasizes inspiring and motivating followers to achieve higher levels</p> Signup and view all the answers

    What are the two branches of accounting?

    <p>Financial accounting and managerial accounting</p> Signup and view all the answers

    Which factor does NOT affect the demand for a product?

    <p>Number of suppliers</p> Signup and view all the answers

    The _____ curve illustrates the relationship between inflation and unemployment.

    <p>Phillips</p> Signup and view all the answers

    A demand curve typically slopes upward, indicating that higher prices lead to higher demand.

    <p>False</p> Signup and view all the answers

    Match the following terms with their definitions:

    <p>Fixed Costs = Costs that do not change with the level of output Variable Costs = Costs that vary with the level of output Revenue = Income generated from normal business operations Capital Expenditure = Funds used by a company to acquire or upgrade physical assets</p> Signup and view all the answers

    What is the law of diminishing returns?

    <p>The law of diminishing returns states that as more of one input is added to a production process while keeping other inputs constant, the additional output produced will eventually decrease.</p> Signup and view all the answers

    Which of the following is NOT a type of subsidiary book in financial accounting?

    <p>Expense Report Book</p> Signup and view all the answers

    Capital profits are associated with regular business operations and are typically recorded in the profit and loss account.

    <p>False</p> Signup and view all the answers

    What is the main objective of financial accounting?

    <p>To provide financial information about a business to external users</p> Signup and view all the answers

    Which method of recording depreciation involves spreading the cost of an asset evenly over its useful life?

    <p>Straight line method</p> Signup and view all the answers

    The Regulating Act of 1773 established the Supreme Court at Calcutta.

    <p>True</p> Signup and view all the answers

    What is the primary purpose of providing depreciation for assets?

    <p>To allocate the cost of an asset over its useful life.</p> Signup and view all the answers

    The _____ method of depreciation calculates depreciation based on a fixed percentage of the asset's remaining book value.

    <p>Reducing balance</p> Signup and view all the answers

    Match the following acts with their significance:

    <p>Regulating Act of 1773 = Establishment of Supreme Court at Calcutta Indian High Courts Act, 1861 = Dual judicial system conflicts Indian Council Act, 1861 = Composition of Central Legislative Council Government of India Act, 1935 = Formation of High Courts under Indian Constitution</p> Signup and view all the answers

    What was one of the primary judicial reforms proposed by Warren Hastings in 1772?

    <p>Establishment of the Adalat system</p> Signup and view all the answers

    The Judicial Committee of the Privy Council was established to hear appeals from Indian courts until its jurisdiction was abolished.

    <p>True</p> Signup and view all the answers

    Name one cause of depreciation for assets.

    <p>Physical wear and tear.</p> Signup and view all the answers

    Study Notes

    Semester-I, Paper-I: English-I

    • Unit-I: Focuses on simple sentences (single clause), phrase structure, tense, noun modifiers, and transformations (passives, negatives, questions)
    • Unit-II: Explores complex and compound sentences (connectives), conditionals, reported speech, question tags, short responses, and common errors.
    • Unit-III: Covers vocabulary, focusing on legal terms and idiomatic expressions.
    • Unit-IV: Includes reading comprehension principles and practice, listening comprehension, paragraph writing, formal correspondence, and note-taking.
    • Suggested Readings: Provides a list of recommended textbooks: Wren and Martin, J.E. Eroforn, T.E. Bery, Ishtiaque Abidi, and Central Institute of English.

    Semester-I, Paper-II: Principles of Management

    • Unit-1: Covers business organization forms (sole proprietorship, partnership, cooperatives, joint stock companies), their characteristics, strengths, limitations, and distinctions. Also includes details on company formation (articles of association, memorandum of association), and differences between public and private companies.
    • Unit-II: Explores the meaning, nature, significance, art/science/profession aspects of management, management vs. administration, management levels, and process aspects. Mentions Fredrick Taylor and Henri Fayol's contributions, and the human relations school.
    • Unit-III: Focuses on planning, nature of planning, various planning types, planning premises, comprehensive and contingency planning, and limitations of planning. Also includes the Management by Objectives (MBO) process, and factors essential to MBO.
    • Unit-IV: Investigates organizational structure types, line and staff concepts, authority vs. power, power sources, delegation of authority, centralization vs. decentralization merits & demerits.
    • Unit-V: Covers motivation (definition, elements, process), need hierarchy theory, two-factor theory, Theory X and Theory Y concepts of leadership, leadership distinctions between leaders and managers, behavioral and contingency leadership styles, decision-making, the steps, types, and limitations of decision making, communication elements, types, barriers to communication.
    • Suggested Readings: Provides a list of textbooks, including Harold Koontz & Heinz Weihrich, Hellriegel, Jackson & Slocum, Parag Divan, Stoner, T. Ramaswamy, Robbins, Dr. Anand Pawar, and YK Bhushan.

    Semester-I, Paper III: Business Economics

    • Unit-I: Introduces business concepts, precepts, economic rationale, optimization, nature and scope of business economics, basic problems of an economy, marginalism, and equimarginalism, opportunity cost, discounting, risk, uncertainty, efficiency, and externalities.
    • Unit-II: Explores demand theory, demand function, demand law, demand schedule (individual and market), exceptions to demand law, elasticity (price, income, cross), and demand forecasting.
    • Unit-III: Explores supply, supply elasticity, production function, isoquants, marginal rate of technical substitution, diminishing returns, variable proportions, returns to scale, cost of production, and prime/ supplementary costs, opportunity costs, total cost, average cost, and marginal cost.
    • Unit-IV: Discusses short-run and long-run price determination under perfect, monopoly, monopolistic, and oligopoly markets, pricing criteria, and pricing strategies.
    • Unit-V: Explores macroeconomics (national income, determination of national income, classical and keynesian approaches, types of inflation - demand-pull and cost-push, Phillips curve, stagflation), concepts of economic growth and development, and obstacles to development.
    • References: Lists textbooks on the subject including: Dominik Salvotore's "Management Economics," Dominic Salvotore's "Micro Economics," and Joseph G. Nellis and David Parket's "Principles of Business Economics.

    Semester-I, Paper-IV: Financial Accounting

    • Unit-I: Defines financial accounting – origin, meaning, objectives, users, and limitations. Discusses branches of accounting, classification of expenditure, and accounting terms/concepts. Describes the use of accounting equations, accounting concepts, and conventions.
    • Unit-II: Explores ledger, posting from journal to ledger, journal entries, preparation of two/three-column cash book, preparation of subsidiary books (purchases book, purchases return book, sales book, sales return book, bills receivable book, bills payable book), and preparation of trial balances.
    • Unit-III: Covers bank reconciliation statements, causes of difference in bank balance, techniques of preparing bank reconciliation statements, accounting errors (problems on overdraft).
    • Unit-IV: Explores capital profit vs. revenue profit, capital loss vs. revenue loss, provisions & reserves (secret reserves, general reserves), preparing final accounts, trading accounts, profit and loss accounts, and balance sheets for sole proprietors.
    • Unit-V: Discusses depreciation (definition, causes, methods - straight line, reducing balance, annuity), recording of depreciation, and depreciation methods (straight line, reducing balance, annuity, and depreciation fund).
    • References: Lists textbooks on the subject including P.C. Tulsain, S.P. Jain, K.L. Narang, T.P. Ghosh, S.N. Maheswari, and T.S. Grewal.
    • Unit-I: Covers administration of justice in presidency towns (1600-1773), development of courts and judicial institutions under the East India Company (Warren Hastings' Plan of 1772), and reforms made under the Act of 1773 and 1780, the Regulation Act of 1773, Supreme Court, functions, and failure, and measures of Cornwallis (1787, 1790, 1793).
    • Unit-II: Discusses the Indian High Courts Act of 1861, conflicts arising from the dual judicial system, tendency for amalgamation, the Indian High Courts Act of 1911, the Government of India Act of 1915 and 1935, high courts under the Indian Constitution, development of rule of law and separation of powers, independence of judiciary, and abolition of Privy Council jurisdiction.
    • Unit-III: Explores legislative evolution (legislative authority of the East India Company under Queen Elizabeth, changes under regulating act, and the Acts of 1781, 1813, and 1833).
    • Unit-IV: Addresses the Indian Council Act of 1861, establishment of legislature, bicameral system, powers and functions of assemblies.
    • Unit-V: Investigates the legal profession in pre-British India, ancient Indian legal system principles, and law practitioners, the organization of the legal profession, the charter of 1726 established courts, and provisions for enrollment of advocates, vakils, and attorneys under the legal practitioner's act of 1853.
    • Suggested Readings: Lists textbooks on the subject including Herbert Cowall's "History and Constitution of the Courts", M.Y. Pylee's "Constitutional History of India", M.P. Jain's and A.B. Keith's works, and Rama Jois.

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    Test your understanding of English-I concepts including sentence structures, vocabulary, and comprehension skills. Additionally, assess your knowledge of business organization forms covered in Principles of Management. This comprehensive quiz is perfect for Semester-I students.

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