GAT Subject (Management Sciences)

I ahangir
Success Series
Management
S len es
Multiple Choice Ouestions
r/ Sample Tests of Each Section
.,rr
,/ Glossary
Also Helpful For
All Public Service Commissions
University / Semester Exams
Entry Tests
Interviews
he( NLY Prep Guide from the Test Prep ttxP
ruly based on the current forrnat of GAtt A/1anagement Sciences NA/ith every type
rts
of question you rnay en ounter during the actual exarrlination justto ensure
that you understand the sub eCt matter and be best prepared forthe exarns.
Complied by:
Ahmed Ali Oureshi Muharnrnad lsrllail Sairlla Afzal
t shangir
Success Serier
anagement
s len es
comp:ied by:
Ahmed Ali OureshL Muhammad lSmaiL Saima Afzal
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or omissions or the rcsults obtained from the
inloirmation.
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We
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sug
authors t
PnnrEcn
prepared
who severely face the problem of getting
we have compiled the MCQs for the students
due to the
in particular for GAT subject. It is specifically
for different tests of management sciences,
for covering all
sciences dg not find any single resource
reason that the students of management
help the students of
The intention of writing this book is to
subjects in preparing for different tests.
preparation for
of lesource set in the form of MCQs for
management sciences, to give them a handful
are not
from different resources which include, but
different tests. we have compiled the MCes
solved
standard books, internet sites' discussions'
limited to different international and national
mentioned where
books and Others' The resources are
questions, different question papers' MCQs
changed the material
note that, in some instances' we have
ever it is considered necessary. Please
dulng compilation to fit in for MCQs'
TheseMCQsgivearelativelyeasierwayofgettingabird'seyeviewofthecompletesubjects.
semester exams for
interviews, preparation for university

This compilation is even herpful for subject
facultymembersaswellasforstudents,preparingforgeneralunderstandingofthesubjectmatier,
teaching and others.
who
we would like to dedicate this book to our families,
suffered family' time during the
cornpilation of the book.

the
Suggestions and improvement can reach
suggestions and improvements are requested'
incorporated in later versions of the book'
authors through publisher. The same can be
Ahmed Ali Qureshi

Saima Afzal
Muhammad Ismail
(
(
(
(
(
(
CONTENTS
Answers
17
O ANuvucAL QUESTIoNS"'-""""'4"-""'-""""'
ANl,lYrrcAL
SAMPLE
PlPnns
.r................ ..-.-.--.-.-..24
O
O
O
O
O
Busrnmss Srarrsrrcs................
64
"

00
00 0
Gloss,
Ell
Brnlro
Sample Test
102

:
1
::

107
111
:.. ....
112
Sample Test V.
116
..
..
AnswerS._
.
117
Sample Test VI.
1
...1
124
1 129
Answers. ..
:
Sample Test VI
-123
Ans ers.:.......
sample Test V .
Answers:.
I .
Sample Test
o,
1 1
:..
106
Answers.
97
Answers. .
Sample Test
II.
130
Answers.
Sample T st
IX,...
..
136
137
:.
143
144
0 Sample Test X.
149
Answer .
150
O Self Assesslnent Sheet.
Answers.1.
..
GLOSSARY. . "" "" " " """ " " "
Brnr,rocupnv &
151
RErERENCEs.............
"""""""190
enl
O
sh(
res
ab
lX
MCQS baSed t S
m j
iOm
)es on necd baSiS tO any
. Fi
Tl
organiZatiOn.
SinCC PhD is an important and One ofthc highest qualiCatiOns,studentS tO be enrolled in these prograrrls
a.
st
sp 1 p t tdu
_ C PhD sm
should go thrOugh a tOugh Crite
g Servi
fOr Ph.D p graFrlS.
Th"
abilities,sOl ing abilitieS,interprct and understanding o
hddC md
ELIGIttILITY FOR TIIE GAT SIIBJECT TEST
SubliCO
SGAT eSubieCt
Candidates fOrPhD ShOuld have adCast 18 ycars OfeduCatiOn tO be eligitole to Sitin the
The
:
llttitttl:
t
d m GAT Subi
::Tl
Minimum 60 mrks""q
:
t EttTttC

"in the CXanl fOr latest
:IIIppear
scores and eligibility.
GAT SUBJECT PAPERDISTRIBUTION/CURRICULA

TpsrFomr.q,t oF GAT SunJecr
o
o
.
Total Question (MCQs) = 100
(2 hours)
Total Test Time = 120 Minutes
TestTYPe: PaPerBased
Test
o General Section =3OVo of the Total Test
c Subject Section =lOVo of the Total
Anrl or GENERAL SEcrIoN
r English (Verbal) = l1Vo
ArlalYtical Reasoning = l51o
TEsr oF
Suslacrs DISTRrBurroN FoR

ScrnNcns
GAT SunJBct MaNacnuBut
FollowingisthesubjectdistributionfortheGATSubjectManagerrrcntSciences
MANAGEMENT SCIEN
COFe Are
___
GAT SunJrcr Scsrour,B

Sr.#
Test.Dates
2.
Dates
Sunday
February
8th January
2012
2012
3.
26thllst
2012
2012
ProvisiOnal
Queries wilE
List Of
Roll.No.
Result wi l be
Registration
Candidate
be
Slip
entertained
annOunced
on Website
Dispatch
till
Date
Tuesday
Website Date
31st January
Saturday 4m
February
MOnday 27
2012
2012
Febmary
2012
IR]),y
2012
2012
orrrrs
2012
2 :
2012
Pttl
2012
Sunday 18th
Novcmbcr
Late Date of
Subrnission of
F
Sunday 19th
2012
Advertisement
2012
'311]Icr
2012
2012
2012
2012

Ittt
2
on NTS
2012
20
cr
2012
2012
2012
Saturday 3rd
cr
2012
30 811:
2012
Novcmbcr
2012
PL
Al
3rdtlll: er
2012
londay 26th
Novcmbcr
2012
How To REGTsTER
."0,,111ff:iJ:iilil";:i:11Tl,T'*:ff'
l.
2.
3.
4.
5.
6'
7.
8.
or
GAr
subject as per dates announced iry
NrS through print
The process of registration is given

U"ioru
Announcement by NTS for registration

Download form from the webJte
Fiil th6 form

Submit the fee as per written in
the downloaded form.
The fee has to be submitted in
the prescribed banks only.
prescribed on the rorm arong
with the chauan forrn to be couriered
Documents to attached are as
il'ffiJ"#lfJi,llll"Ljf.::'n" "
follows
(a) 2 photographs (l x 1.5 inch) wirh

fuil
(b) Challan Form
(c) Others as per the requirement of
By hand submission is not allowed.
face exposure
NTS
NorB
Any query about provisional date

will be accepted within 04 days after
the name appears.in the
provisional list.
candidates ust will be uploaded

' :Hi[?,H
on rhe NTS website as per rhe receipts
,:lfll'"
of the
rr;;;Ji,
By hand submission of registration

forms are not accepted.
The roll number slip with
be dispatched to the candidates
Rbsulrs
rist.
at reast ten days prior to the test

date.
will be dispatched wirhin 07 days

after the test date.
.
o
o
Final list of eligible candidates

will be displayed with 02 days afrer
the provisional list. Roll No.
along with resr Center wirr be
t-h;'iinJ;ii;i#c'#aiaate
Sh
xi
TBsr Dav IusrnuctloNs

Prusn Folr.ow Tnaso lNsrnucuoNs Canprullv
ArrnNn.lNcB
No candidate will be admitted in the test centre after specified time.

Candidates will have to produce their Roll Number Slips at the entry point of the test centre.
Without the Roll Number Slip NO candidaie will be entertained for the test.
Reporting Time at test centre as specified on Roll No. Slip.
CorvrposrrloN oF TEsr
Question booklets will be in five different shuffles.

Each question booklet will be sealed and opened by the candidates at the Stdrt of test.
Do not break the seal titl the test starts.

No candidate will be allowed to leave the seat during the test except for an un-avoidat'le reason e.g.
toilet usage, that to in the escort of an invigilator.
All papers will be collected at the end of test and no candidate will be allowed to move frorrr the seat
till the final count after the collection of the paper.
Do not bring calculators, mobile phones and wrist watches with calculator in the test ,:enter.
Anout
Sn.q.olnc /
Fu,ltNc Tnn Cmclms
filling of two answers against single question is wrong. It will be tnarked reRO.
Over writing and cutting near answer circle or anywhere on answer sheet rvill distract the readability
and may be,marked reRO in the specific answer circle
Shading /
Only use Blue or Black Ball pen to shade / fill the circles
Do not bring any other stationary item including rough/extra sheets as two blank sheets for rough
work are placed inside the Question booklet
Use of any other material that is not provided by NTS will be illegal and subject to disciplinary
D.o not write anything on Question Booklet except your
NAME, ROI I. No. and SIGN on the front

title of Question Booklet before attempting the questions.
The questions booklet will be taken back after the test is over so do not attempt to tear or remove
ury pug" from question booklet. No one is allowed to keep any part of it.
Do not ask the invigilation staff about the content of questions. They are not allowed to explain or
correct any question in the paper. The checking system has the capability to determine the erroneous
questions and adjust accordingly.
Every carrdidate is required to sign the attendance sheet, brought to her/him by the invigilators. The
Roll No. Slips will also be collected by the same staff after the attendance is completed'
You are bound to NTS discipline rules till you leave the test center premises.
Any disturbance in any way caused by you will disqualify you from the test and NTS reserves the
righs to carry out legal action against such attempt'
The chief supervisor has complete authority to cancel any paper at any stage if the activities of the
candidate are found against the discipline.
llow ro FILL
THE ANSwER SHEET
(black
One page printed answer sheet is provided to answer the questions. Use only ball pen
allowed.)
are
not
materials
you,
erasing
shade/fill the cirites. (Bring pen / clip board with
blue) to
xii
Answer sheet contains five circles containiug five
options
of answer for
one question, containing

alphabets from A to E inside, against each question
number.^The candidate has to completely shade/fill
one
circle that sftre thinks is correct. For example the
canrlidate feels that the conect unr*"i
given
the
question
'A',
is
then sftre may shade/fill the circle .ontoinirg alphabet ,A,with
ball pen like this:
if
Correct Filing
000oo
.OOOoo
OOOo
OOoo
hnsoNar, IxronprarroN
oN ANswBn
Incorrect Filing
Ooo
o oo
O
o O
Snmr
The answer sheet contains personal data of

candidate on the top of the sheet. It has candidates,.
Name.
Father Name' Roll No' and
The candidate is requireJ to critically check
these
fields
-Photograph.
and
sigrr
in
ttre required space' If any field oI p"rsonul
information is iound in.correct the candidate must
inform the
invigilator present
around.
Tasr Crrms
First 08 cities are compulsory test cities. other
test cities mentioned in the list are optional
test cities,
subject to a minimum of 200 registeied candidares.
Tcst Cities
Sr.#
1.
Faisalabad
2.
Islamabad
3.
Karachi
Multan
4.
LahOre
6.
Peshawar
7.
Quetta
8.
Rawalpindi
9.
Bahawalpur
Gulranwala
10.
Dera3hazi l han
12.
Hyderabad
Sr
5.
11.
Test Cities
NTS CoNr,q,cr
For test and rcst center inquiries and queries
related to score reporting, and for
other purposes like
complaints or providing feedback, you
may
rn touch *lir, n-rs on the
s,,u
!.v rv'vw.r.'
llu'"
following con'acts
Eut*I1
rnfb@nts.org.pk
HplneuanrERs : (Isr,ervur.ln)
402, Street No. 34, sector I-B/2,
Isramabad, Ter: +92_5r_925g47g_7g,Fax:
+92-5r _g25g4go
Xlll
ABBoTTBAD OFFICE
UniVersity Road,Abbottabad
KARACH1 0FFICE
POF ComplCX 3rd Ro01,252 Sarwar Shahecd Road Saddar,Karachi,TCl:+92-21-35215013,
Fax:+92-21 3521516
LAHORE OFFICE
,DHA Colnlnercial Area,Lahorc Cantt,

Plaza No.170,2nd R00r,Y B10Ck,PhaSe
Tel:+92-42 99239022,+92-42-99239258
PESHAWAR OFFICE
B ,Rahat Abad Co10ny,Near PakiStan Forcst hStitu
Fax:+92-91-5704084
,PCshawar,TCL+92-91-9218233,
QUETTA OFFIC
HEC zOna1 0fflCe,QuCtta
SourCe:wWW. rg.
GENERAL ENGLiSH
_i
The
For English paper preparation list of antonyms and synonyms are compiled and are given below.
exams
in
the
best
the
perform
to
in
order
candidates are encourag"S to l"u* -uximum of them
LIsT OF ANTONYMS FOR
PREPARAT10N
Antonyms
Words
Antonyms
Words
best
better
worst
Big
slnall,little
bitter
blamc
SWCCt
worsc
absence
prcsencc
abundant
accept
scarce
bless
curse
refuse
blunt
sharp
accuratc
inaccurate
bold
tiIIlld,IIlle
adnut
deny
rctreat,retlre
borrow
bravery
lend
advance
advantage
disadvantage
bright
dull
agrce
disagree
broad
narrow
alive
dead
build
destroy, demolish
ally
cncmy
troubled
ncver
calm
always
capable
incapable
ancient
captivity
freedom,liberty
answer
modern
questlon,query
careful
rush, careless
approached
receded, departed
cellar
attic
approval
arrival
disapproval
cheap
dear, expensive
departure
aniicial
ascend
descend
asleeo
awake
clear
clever
clockwise
close
Yague, cloudy
natural
attack
defense
cold
attcntlon
combine
bad
inattention
repulsive
forward, onward
good
beautiful
ugly
beginning
below
ending
bend
bent
straighten
attractiVe
backward
above
pralsc
cowardice
stupid
anti-clockwise
ldiStant
hot
lSCp
go
comc
comfort
ldiscomfort
common
lrqg
conceal
reveal
correct
lincorrect
straight
VVbrds
Words
Antonyms
Antonyms
kind
fortunate
unfortunate
simple
clumsy
fotlnd
lost
frank
secretive
danger
dark
safety
fieedom
captiYity
decrease
increase
flcsh
stale
deep
shallow
fHcnd
cnemy
definite
indeflnite
full
demand
despair
supply
gather
gcnerous
empty
distribute
light
luent
hope
appear
gentle
seldom
mcan
disappear
liscourage
cncouragc
giant
disease
hcalth
dismal
cheerful
glad
gloomy
doctor
paticnt
granted
refused
dry
wet
great
nunute,snlall,little
dull
clear, bright
guardian
ward
dusk
dawn
guest
host
early
latc
guilty
innocent
soft
rough
dwarf, pygmy
sp
chccrftll
East
West
easy
difflcult
happy
hard
cbb
cconomlse
employer
ow
ha111lful
harmless
vast
hasten
dawdlc
hate
love
empty
full
loyee
sad, miserable
ill,
unhealthy,
liscourage
heavy
light
end
beginning
height
depth
entrancc
exit
here
there
excited
calrFl
hero
iowald
pand
expenslve
contract
hindcr
valley
aid, help
xpolt
inexpensive, cheap
lmpo
honest
dishonest
exterior
intedor
horizontal
external
intemal
hunablc
fail
succeed
hunger
vertical
proud
thirst
falsc
truc
lnutat10n
gcnulnc
famous
unknown
slow
lmmensc
tiny, minute
fast
Hllprlson
frcc
fat
thin
include
exclude
feeblc
sturdy, strong, powerful
lncreasc
decrease
fcw
many
inf'erior
supcnor
flnd
lose
inhabitcd
uninhabitcd
inhalc
exhale
fold
last
unfold
foolish
WiS()
forelegs
hincl legs
forget
remember
diseased
lnsldc
outside
intelligent
intentional
interesting
unintelligent, stupid
accidental
uninteresting, dull
healthy
encouragc
cruel
cunnlng
dainty
Words
Antonyms
Words
INorth
lSOuth
10bedient
l
interior
exterior, outside
intemal
external
101n
separate
16dd
Jun10r
senlor
10ffcr
JuStiCC
injustice
king
knowledge
SCa
lparC
landlord
tcnant
lpaSt
large
little,srnall
laugh
cry
hwful
unlawful
lawyer
laz
client
industrious, energetic
leader
follower
lecturer
student
left
ght
lender
borrower
lengthen
shorten
less
more
10ut
153
155]ite
__J
mpOrary
ldiSplCase
l
lWCalth
likely
unlikely
little
large, much, big
lofty
lowly
long
short
loss
find, win
loud
soft
low
loyal
high
mad
sanc
magnetize
demagnetize
[555
mastcr
scrvant
ISeCu
lllattlrc
immature
maxlmum
Irllnllnum
me
you
merry
mrrthless, sad
I
lquahied
ldOW
nq
____J
lp051
lWrong,lCft
ISatiSfactory
lnCW
lhSeCu
minonty
maJonty
spendthrift
misunderstand
understand
IS
narrow
near
wide
far, distant
lsOrOW
neat
untidy
ncw
night
old
[5
day
quiet
ISpeakCr
lsillgtllar
ldim
1 m
11)lllral
l
I
:_
nk __
d
bOy
lliStCncr
IHC
19 ,,1
lHq
__J
ltriVial
IShOpkCeper
lcustOIner
ldmplC
ICOmphCttcd
l
Iniscr
lunSatisfactory
l ebL,We
limpu
dark, heavy
lpublic
dislikc,unlikc
_1
limp01ite,rude
Vate
ht
lp6werful
I
lprescnt
lpOVerty
_J
hit
like
nolsy
Se
11
IF
lrefusc
IChH
lpemanem
lp
l
SObedent
l imist
lin
light
disloyal
land
13
A 1:nyms I
lCVen
lopen
subiect
lgnorancc
first
crooked
weak
straight
strong
Synonyms
Words
Antonyms
Words
to irritate, to bother
to reply
to an ov
to answer
to appcar
to arnve
to scem
to reach
sunny
failure
cloudy
take
glve
tarne
short
wild
teacher
pupil
thick
thin
tlght
slack, loose
backside
spinc
behind,bOttol
tOp
bottom
opaquc
bad (not good)
poor, naughlY
ballot
Ooll
truth
untruth,liC
fitting
up
down
becomine
believable
vacant
bcllv
stomach
bendy
flexible
valuable
occupied
valueless
victory
defeat
benefl ial
avourable
generous
virtuc
VlCC
visiblc
invisible
voluntary
vowel
wax
wisdom
within
compulsory
success
transparent
Words
about
abstract
almost
animated
backbone
plausible
beneficiant
bid
tender
bizane
weird
innocent
folly
branch
VVithout
brave
Antonyms
brow
Synonyms
approxlm
surnmary
nearly
lively
besides
apparcnt
obvious
relevant
considerable
11011
Words
blameless
bloodbath
bloodless
anvwav
aoplicable
appreciable
ardour
consonant
vane
LIsT OF SYNONYMS
Words
to guarantee
to assurc
bu
Inassacrc
cold
deoartment
lCOurag10us
lorehead
,(telcphonc)
ngaged
to bear on sth.
lo beat
to beein
to behave
to affect
Io bring sb. uP
to ralse
to b nL
sth.back
to bring sth. on
to defeat
.o start
to act
lto rcintroducc
tO causc
passlon
occur
candy
sweet
fragrant
crafty
organization
charter
chieflv
constitution
mainly
to chop
to cut
appealing
citation
quotation
awav
absent
lesson, course
awil
terrlblc
;lass
clever
to accomplish
to accumulate
to administer
to achieve
to build up
coiffure
to collect
hairstyle
to gather
to managc
COIIllC
comedian
to confess
complete
TotaI
to adrrllt
arisc
aromatic
anful
association
attractive
intelligent
Fatr:
lncord
harmony
destiny
ronfederate
accomplice
dcvil
satan
ronflict
clash
to differentiate
to lnlx up
disadvantaged
to disappear
to disclaim
discount
domesticate
dubious
daybreak
decontrol
to deduce
deliberate
Jelicate
[o denationalize to
to distinguish
deprived
to vanish
to deny
confuse
onsiderate
thoughtful
onstant
Fixed
interpretation
modern
onstruction 0it.)
lontemporary
rontrary
OppOsltc
oconvcv
to communicate
Right
llrrect
criminal
rook
E)icc
roller
9 Categonze to categonse to classify
BD
reduction
cultivate
loubtful
Cawn
deregulate
to infer
planned
fragile
to pnvatize
Cenationalise (BE)
to indicate, to represent
wicked,cvil
lo denote
horus
comy, tacky
picky
refrain
)clte
to quote
detached
indifferent
receptionist
dicy
Riskv
shut
.o break down
consolation
graduation
to dinlinish
[o decrease
disagreeable
disaster
unpleasant
catastrophe
to disclose
:o
totally
disgrace
dossier
dull (person)
Fllc
lcesy
;hoosy
LI
close
: collapse
.o
or ort
omrncnccmcnt
ompletely
l condemn
l confine
l
to scntencc
to restrict
to comply
conform
depraved
deserted
abandoned
reveal
shame
stupid
o conncct
to associate, to put
through (telephone)
onstancy
idelitv
3agcr
Keen
onstitution
l consult
stnicturc
3cocnorrllc
profitable
to refer to
to elevate
to raise, to promote
ontlnuous
onventlon
continual
to encounter
to COInc across
conference
to enqulre
.o
)copc
to managc
oarticularly
ouch
Sofa
'usade
campalgn
especially
to establish
gverlasting
lrativc
healing
stubborn
rssed
D
ash
eceptive
:dicated
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:ilberately
demostrate
3nllls
deprave
desert
sprint
misleading
committed
faultv
intentionally
to protcst
leans
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oxcept
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investigate
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eternal
apart from
to blow up
carth
Soll
C20CCntnC
selfish
to emphasise to
emphasize
to strcss
enollllous
[Iuge, immense
eouttv
faimess
essential
fundamental
to evaluate
to assess
xactly
precisely
to cXplre
to run out
cxtra
additional
to d ft
fo(lish
Sillv
to foretell
fortunate
to predict
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obby
French dressing
garbage
vinaigrette
rubbish
gay
homosexual
srab
gratis
incidentall
to selzc
gravestone
headstone
Intestine
famed, renowned
fantastic
cati bHlliant
fool
idiot
forehead
brow
oreviouslv
formerly
Ve
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gLlt
amous
to clarify; to light u
to suppose, to assume
lucky
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greedy
gratuity
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ucid
inflexible
madr
1.
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n the
intellectual
to intensi
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rashcan (AE)
mild
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sood-looking
fortunately
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to endanger
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ivid
trace, tip
homc
domestic
housebreaking
burglary
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o rush
to hand sth. out

hang-out
.o
Hard
Lo hawk
rder
distribute
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tough
to peddle
Hearsay
nlrnour
hishbrow
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intellectual
homicide
nungcr
hvpothesis
murder
Gap
starvatlon
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to cxarrllnc
[ealous
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lov
iclight
mindless
senseless
Lo rrllrror
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miserable
misread
Cenressins
mistrust
distrust
moderately
more and more
increasingly
movlc
ill
reflect
misinterpret
reasonablv
barc
valid,leea
naked
napkin
l narrative
Livcablc
habitable
to approach
oopy
crazy
nightfall
hckin2
Irllsslng
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serviette
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ncar
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dusk
to appoint
nominate
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insanity
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mddav
to notify
nugatory
to inform
worthless
magistrate
Justice of the Peace
to rnaintaln
to prese c
mannecluln
model
matters
things
nameless
to narate
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meeting
merciless
meanwhile
a natlve
a local
assembly
cruel
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essential
nobilitv
The Aristocracy
nudwav
halfway
mild
gentle
non-stop
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intellect
To plav down
To misunderstand
to nunllnlzc
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lo overlook
t00VCrscc
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memorize
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deadly
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portray
emigrate
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obicct
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opportunity
oractically
virtually
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oriority
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sul lmaF
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preceding
prompt
o provide
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passable
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to supply
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illusion
pOlsonous
post-mortem
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compliment
principle
DreSSing
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precedence
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to quake
quite
to tremble
fairly
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relisious
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chorus
devout
remark
COIIIment
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regret
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refrain
removable
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lo renouncc
Lo glve up
.o
respond
to reply
rubbish
nonsense
to ruc
to rcgrct
satisfied
scrumptious
to select
self-assured
convinced
delicious
to choose
significant
confident
meaningful
sincere
honcst
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stable
steady
stupid
siHv
suggest
propose
stinnsc
dawn
surroundings
to symbolize
environmenI
to reprcsent
indisputable
unlawful
unfaithful
nerally, normall
uncooked
raw
valn
useless
understandable
comprehensible
to vanquish
to conquer
unfortunate
lnlucky
vast
huge
uniniured
[o visualize
untimely
unhurt
single
premature
to imagine
unusual
strange
uprising
rcbcllion
unmarried
W
Warranty
well timed
V
vacancy
vaguc
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valueless
lo rcslst
well mannered
Polite
Winery
Vineyard
indistinct
o vary
worthless
to differ
virtuc
advantage
to vacuum
to hoover
rimely
to withstand
zeni
Z
PCak
10
ENcr,rsn MCQs
1. A_isagroup
of words that
(a) Clause
(c) Complement
Z.
is a sentence that has subject and a
(a)- Clause
(c) Complement
In a
Sentence
Subject
sentence, person or
thing
about
At midnight, you heard the voice of several

people shouting 'fire". Which of the
11.
something is said is limown as

(a) Clause
(b)COmplel ent
(c)
4.
(a) Ensure where the fire had taken place
(b) Continue to sleep till you are called for

(c) Rush out of the room with buckets of water
subject.
(a)
(c)
5
Clause
Subject
(b)COmplelnent
(d)PrCdiCatc
(d)
sentence has one subject and one
(e)
predicate.
Simple
_ sentence has two or more clauses.
(b) Compound
(a)
6.
(a) Simple
(b) Compound
In these particular questions there are given some

by the conclusion which
statements, followed
12. Each of the following, if true, could help to
8.
While riding on a scooter, you find someone

has been hurt by your scooter. Which of the
following will be your responsibility?
(a) Pay compensation for the injury and try to
dispose the matter
(b) Try to run away from the spot immediately

(c) Take him to the Doctor and arrange for the
(d)
9.
account for this trend except

(a) More workers were needed to produce the
same unit of output
(b) The number of farm workers increased
You have been asked to appoint a personal

secretary. Which of the following quality
would you consider as most important?
(a) She must have good experience

(b) She must have an imposing personality
(c) She must be highly educated
(d) She must be an efficient stenographer
medical aid
Stop your vehicle and say sorry
Generally a patient of tuberculosis visits the

hill stations because
(a) They are advised by the Physicians to do so
(b) It is pleasure to enjoy the environment
(c) Atmospheric pressure decreases with the
(d)
height from the sea level

Cold weather is favorable for the patients of
tuberculosis
to extinguish the fire

Rush to the fire brigade station and inform
the officials about the fire
None of the above
From 1940 to 1970, the amount of food production

per worker and per hour increased two fold. From
1970 tfr 2fiX), food production per worker and per
hour increased one and a half times.
appeals you to be the most correct.
7.
and
to what extent
is what is said about the
In a sentencr
following you would do?
(d)PrCdiCate
Subject
None of the above
Ice floats on water because

(a) It is spongy
(b) It is trans parent
(c) It is an element which melts easily
(d) Its weight is less than the weight of water
of equal volume
(e) None of the above
Sentence
Subject
predicate.
3.
10.
complete sense.
(e)
makes
2`
24
25
26`
(c) The number of hours worked per unit of
'
output decreased
(d)
(e)
The use of chemical fertilizers decreased
27.
None of the above

28.
13. Unhurtis
(a)Unhalllled
(c)Grateful
14.
(b)Simplc
(d)Harlned
29
is also knolvn as modifier.
(a)AttectiVe
(b)Noun
(C)Verb
(d)COnJunctiOn
15. A _
for cornparison.
(b) Noun
(d) Conjunction
has three degrees
(a) Adjective
(c) Verb
16. Mr. Nusrat Fateh Ali Khan is more famous
30.
31.
32.
manv others.
(a) Than
(c) Farther
(b) Then
(d) Further
33.
many other cars in
'17. His car his better
(b)
(d)
(a) Then
(c) Best
(d)
(c)Rebcllio
' 19. This is the

_
Than
Cheap
35.
Simple
36.
building.
(b) Taller
(a)For
(b)Since
She has been
(a)
For
23. He said he _
(a) Owns
(c) Owned
24,
here
afternoon.
(b)
He will
the
of the law.
26. The synonynl of`6to vanquish"is

(a) To harm
(b) To conquer
(c) To vary
(d) To be ungrateful
are of a bad quality.
high.
32.
She is
(a) On
Winery- is to
42.
you rearrange the Ietters "IDIAN", you

(b)OCCan
(d)City
The synonym of Novice is:
(b) impressive
(d) public
The synonym close to naughty is:

(a) rope
(b) wicked
43,
44.
puzzled
The antonym of 'latest' is:

(a) Current fashion (b) Inl'lammation
(d)
Dress
The Synonym of latest is

(a) Current fashion (b) Inflammation
(d)
Nestle means:
(a) Water
Fashion
(b) Snuggle
(d) High Quality
Eatables
Choose the correctly spelled word
(b)C010ncl
(d)COmul
45.
The opposite to affection and care is:

(b) Inhumanity
( Lust
(d) Love
(c)Acting
46.
Blemish is closed to:
(a)
(c)
(b) Instrument
Foible
Constitution (d) telecommunication
A kid jumped
In
Into
She took
(a)
(c)
(b)In
48.
young.
(a)Up
(C)TO
the bed.
(b) Inside
(d) Only
cooking when she was YerY

Grateful
(d)
(a) Curnel
(c) Kernele
47.
Harmful
crooked
(c) Dress
(e) Old Fashion
this cottttee.
(a) Vineyard
(c) Busy
If
(b)Aunt
(d)SOn
(c) Old fashion

(e) Fashion
(b) From
33.
a very good background.
He comes
(a) Mother
(c) Father
(c)
(b) Is
Are
29. The police not corrupt.
(b) Is
(a) Are
happy today.
30. She is
(b) Too
(a) Very
(a) Of
(c) With
41.
Chairs
(a)
31.
Choose the odd one out.
(c)
(b) Give care

(d) Take care
28. Our wages _
(d)Walk
(c) Simple
40
(b)
(b)Stand
(a)Hard
his exarlls.
27. All his

(a) Chair
(a) Stay
(c) Hop
38. GOLF isto FLOG as 8526isto:

(a)2856
(b)6258
(c)5862
(d)5682
39.
(b)Eycs
(d)B00kS
(a)Givc
(C)Take
Shout is to whisper as run is to
(a) Country
(c) State
(b) Own
He is not criminal in
(d)Virtual worker
would have the name of a/an:
a house.
(a)Eye
(C)B00k
25
Since
37.
the
(b) iddleclass
(C)Intemediary
Tallest
(d) Smaller
Tall
n. She said that she was not happy.
(a) Farther
(b) Further
(c) Either
(d) Neither
21. We have not gone there _
a long time
(a)
(c)
Middleman is closed to which of

fo1lowing word?
(a)COmlllussioner
town.
18. Unprising is closest to

(a)Untruthful
(b) Cheap
22.
34
On
Over
(c)Applaud
(d)Out
(C)Up
54.
Current fashion
( InnamrrlatiOn
(b)01d fashiOn
( thC
(b) a
(d)Dress
(C)VOguc
Tea'
give
me
51. Will You Please
Stack means
(a) friend
(c) to pile
(b)
(d)
55. The antonYmofaPProve

(a)
(c)
(d)any
-
(C)SOme
(a)StiCky
(b)On
(a)Off
50
CoheslVe rneans
53.
I can put______ with d Cult people.
49.
Changc
Void
together
to combine
is
(b) de apProve
(d) applaud
disapProve
unapprove
52. It costs a lot to have both

(a) to fill
(b)fill
(c) separated
(d)tO SCParate
ANSWERS
2
8
15
22
29
10
16
23
17
b
b
30
36
37
43
50
44
51
b
C
24
31
38
45
52
b
b
C
4
11
5
12
19
7
14
21
26
33
13
20
27
34
28
35
41
42
40
47
48
49
54
55
18
25
32
39
46
53
a
C
a
a
d
b
13
GrxBnar, ENcr,rsrr
TEST
In a sentence,
the subject.
(a)
(c)
2.
8.
iS What is said about
Clause
Subject

(a) Ensure where the fire had taken place and
(b)COmplerncnt
to what extent
(d)Predicatc

predicate.
3.
(b) Compound
Simple
A_
sentence has two or more clauses.
(a)
(d) Rush to the fire brigade sration and inform
(a) Simple
(e)
(b) Compound
In these particular questions there are given some

statements, followed by the conclusion which
appeals you to be the most correct.
4.
secretaryo Which of the fOnowing quahty
9.
(C)She FnuSt be highly educatcd
(d)ShC must be an encicnt stenographcr
While riding on a sc00ter,you rlnd someOne
(d) The use of chemical fertilizers decreased

fo1lowing will be your respollsibihty?
(a)Pay compensation for the ittury and try to
10. Unhurt
(d)StOp your vehicle and say sorry
Genera y a patient of tuberculosis visits the

(a)ThCy are advised by thc Physicians to do so
(b)Noun
(C)Verb
(d)COttunctiOn
A_
for comparison.
(b) Noun
(d) Conjunction
has three degrees
(c)Atmosphe c pressutt decreascs with the
(c) .Verb
(e)None ofthe abovc

lce floats on water because
(a)ItiS Spongy
13. Mr. Nusrat

(a)
(c)
Ali Khan is more famous

(b) Then
(d) Further
Than
Farther
14. His car his better
(b)It iS trans parent
(C)ItiS an clement which mclts casily

(d)ItS weight is less than thc weight of watcr
(a)
(c)
(e)None ofthc above
]Fateh
many others.
town.
of equal volume
is also known as modifier.
(b)ItiS plcasure to c oy the cn ronment

hcight frorFl the Sca lcvcl
Simple
Harmed
(a)AttcctiVe
(a) Adjective
(d)C01d wcathcr is favorable for thc patients of

tubcrculosis
7.
12.
(a) Unharmed
(c) Grateful
(b)Try to run away from thc spotinu diately

(C)Takc him to the Doctor and arrangc for the
medical aid
is
dispose the lnatter
Each of the following, if true, could help to

same unit of output
output decreased
has been hurt by your scootero Which of the

None of the above
From 1940 to 1970, the amount of food production

per worker and per hour increased two fold. From
1970 to 2000, food production per worker and per
hour increased one and a half times.
would you consider is lnOst important?

(a)ShC Inust haVe good cxpenencc
(b)She must,ave an impOsing pcrsonality
At midnight, you heard the voice of severat

people shouting .fire'r. Which of the
Then
Best
15. Unprising is closest

(a) Untruthful
(c) Rebellion
many other cars in

(b) Than
(d)Cheap
to
(b)ChCap
(d)Simple
14
13. It costs a lot to have both_.

(a) to fill
(b)ill
ANSWERS
2.
5.
6.
7.
9.
10.
13.
14.
4.
8.
12.
14.
Cohesive means
(a) Sticky
(c) Applaud
15.
Stack means
(a) friend
(c)
The synonyIIl close to naughty is:
(a) rope
(c) crooked
2.
3.
Fashion
6.
1.
(b)Inhumanity
(C)COnstit tion
(d)telecOrrlmunication
14.
15
8.
7.
12.
III
Simple
Harmed
(a)In
(b)InSidC
e)Into
(d)Only
cooking when she was very
(b) on
(d) Over
4.
(C)Up
(d)Out
5.
(d)COttunc10n
has three degrees for comparison.
(b) Noun
(d) Conjunction
Mr. Nusrat Fateh Ali Khan is more famous

Further
better
many other cars in
Then
Best
Than
Cheap
Unprising is closest to
(a) Untruthful
(b)ChCap
(c) Rebellion
(d)Simplc
7.
This is the
10
building.
(a)Tallest
(b)TallCr
(C)Tan
(d)Smalier
She said
(a) Farlher
(c) Either
that she was not happy.
(b) Further
(d) Neither
a long time
We have not gone there
(a)For
Tea.
Then
6.
Dress
His car his

town.
(a)
(c)
Old fashion
12. Will you please give me _

(a) the
(b)a
(c) some
(d)any
(b)Noun
(C)VCrb
(a) Than
(c) Farther
I can put______ with difrlcult people.
(b)On
(a)Attcct C
(a) Adjective
(c) Verb
the bed.
(a)Off
A kid jumped___
(C)VOguc
11.
many others.
(b)InStrumcnt
(a)Inflarlmation
b
b
3. A-
(d)Lovc
(a)Foiblc
Current fashion
10.
Unhurtis
2.
Blenish is closed to:
Up
To
6.
TEST
The opposite to affection and care is:
(a)
(c)
10.
Snuggle

(a) Curnel
(b)C010nel
(c) Kernele
(d)COmul
She took
young.
9.
13.
4.
8.
9.
High Quality
Eatables
(a)Lust
(c)Acting
7.
3.
2.
(a)Unhallllcd
(c)Gratcful
5.
Fashion
Nestle means:
(a) Water
(c)
1.
4.
together
to combine
ANSWERS
The Synohym of latest is

(a) Current fashion (b) lnflammation
(d) Fashion
(c) Dress
(e) Old
Change
Void
(b)
(d)
to pile
(b)WiCkCd
(d)puZZICd
The antonym of 'latest' is:

(a) Current fashion (b) Inflammation
(c) Old fashion (d) Dress
(e)
(d)tO SCparatc
separated
15
TEST
l.
(c)
b
d
1.
(b)Since
She has bOen here_4afternoon.
(b)Since
(a)For
- 1
15
11. He said he______a house.
(a)OWns
(C)OWned

(b)OWn

12. He is not Crillunalin the_of the law
(b)Eyes
(d)B00kS
(a)Eye
(C)B00k

weather is favorable for the patients of
(d) Cold
13. He will______his exaIIIs
14.
tuberculosis
(b) Give care

(d) Take care
(a)G c
(C)T C
t'to vanquish" is
The synonym of
(b) To conquer
(a) To harm
(c) To vary
6.
(a)
(b)
(c)
(d)
15
All his_are of a bad quality.
(a)Chair
(b)ChairS
ANSWERS
b
13.
2.
3.
4.
6.
7.
10
11.
12.
14.
15
TEST
1.
7.
b
b
following You would do?

(a) Ensulre where the fire had taken place and
to what extent
(b) Continue to sleep till you are called fbr

ici nu.n out of the room with buckets of water
- IV
(b) ComPound
i"l- Simple
sentence has two or more clauses'
2,
-' A(a)_-SimPle
(b) ComPound
given some
In these particular questions there are
followed by the conclusion which
appeals You to be the most correct'
3.
4.

(a) She must have good exPerience

(c) She must be highlY educated
While riding on a scooter' you find someone
of the
has been hurt by your scooter' Which
following will be your responsibility?
disPose the matter

(d)
medical aid
StoP Your vehicle and saY sorrY
the
people shouting
(d) Rush to the fire brigade station and inftrrm

predicate.
rlte-u"t",
'tire"' Which of
It is spongy
It is trans parent
It is an element which melts easily
Its weight is less than the weight of water
of equal volume

From 1940 tn 1y70, the amount of food production
per worker and per hour increased twg fold' From
per
iEzO to 2000, food production per worker and
hour increased one and a half times'
8. Each of the following, if true, could help to
account for this trend excePt
same unit of output

i") ff," number of hours worked per unit of
output decrqased
(d) Th; use of chemical fertilizers decreased

9.
Unhurt is --
(a) Unharmed
(b) SimPle
(c) Grateful
(d) Harmed
10.
'
is also known as
(a) Adjective
(b) Noun
(c) Verb
(d) Conjunction
modifier'
16
ll.
has three degrees for comparison.
(a)Attect C
(b) Noun
(C)Vcrb
-
(d),Conjunction
12. lr. Akralll is more famous
many
others.
(a)Than
(b)Thcn
(c)Farther
(d)Furthcr
6,
7.
town.
(b)Than
(d)Chcap
(C)Best
8.
10.
(c)RebelliOn
(d)Simplc
This is the_____building.
(a)Tallcst
(b)Tallcr
(C)Tall
(d)Smaller
12.
2.
b
d
10.
14.
4.
7.
12.
15.
2.
She said
(a)Farther
(c)Eithcr
3.
She has been
(a)
his exarns.
synonym of ,to vanquish',
his
the
of the law.
care
is
0)Chairs
2.
ANSWERS
Since
(b) Own
care
are of a bad quatity.
afternoon.
a house.
th
(b) Give
(d) Take
(a)Chair
Owned
(a)Eyc
(C)Book
15. All
Since
(b)
He is nof criminal in
(b)Eyes
(d)Books
2.
3.
6.
7.
10.
12.
14.
13.
_
Owns
He said he
(a)
(c)
here
a long time
of the law.
(a) To harm
(b) To conquer
(c) To vary
4.
For
.-
(b)
(b)Is
police not corrupt.

(a) Are
(b) Is
She is
happy today.
(a) Very
@) Too
He is not criminal in the
14. The
(b) Further
(d) Neither
For
Chairs
high.
(a)Give
(C)Takc
that she'was not happy.
(a)
(b)
The
13. He will
TEST_v
1.
3.
9.
13.
All his
(a) Chair
(a)Eyc
(C)Book
ANSWERS
5.
The synonym of ,,to vanquish, is

(a) To harm
(b) To conquer
(c) To vary
(d) To be ungrareful
15
(b) Give care

(d) Take care
Our wages _
(a)Are
(a)Untruthflll
(b)Cheap
his exams.
(a)G c
(C)Take
13. His car his better______Inany other cars in
(a)Then
will
He
15
4.
C
3.
(b)Eycs
(d)Books
4.
17
AnnlwtcAL QursrloNs
(c)
QursuoN 1-6
'
The manager of a radio program is going to

Perveen
feature six voialists - Mehreen, Nadia'
Rubia, and Sobia - on her hour radio show

feature one
during the course of one week' She will
through
Monday
from
,o.uilt on the show each day
vocalists
the
schedule
Saturday. The manger must
for the show according to the tbltowing conditions
Mehreen must be featured earlier in the week
than Rubia
(d)
i"i
e*"nu,
Perveen must be featured on Tuesday
Ameena must
be featuied on the day
than Sobia
6.
(b)
7.
Da d ran Seventh from the tOp and 28th

from the bottOm in a dass.HOW many students
are there lll the class?
(
Select the fouowing WhCh iS dtterent from
(a)Egg
(C)MOther
g,
TuesdaY
(b) TuesdaY
(a) MondaY
(c) WednesdaY (d) FridaY
(e) SaturdaY
can
be
(b)AInecna
(d)SObia
of the following is true?

(a) Mehreen must be featured on Wednesday
Nrai, must be featured on Saturday
(b)TrCat
(d)Table
(e)Laters
10.
Select
from the following which is different
from the others
5. If Sobia is to be featured on Thursday, which

ir)
from the following, which is different
(a)Grcat
(O TCars
the
is
latest day on which Mehreen can be features
of the following vocalists
Select
(b)Acnc
(d)Giddy
from the o erS
ThursdaY
3. If Ameena is to be featured on Thursday'
(a)Nadia
(c)Rubia
(d)33
Other with respectto alphabe
(b)
(a) Monday
(c) WednesdaY (d)
(e) SaturdaY
featured onMondaY?
(b)35
(e)None ofthc aboVe

8
must be feafured on
Which
36
(c)34
2. If Sobia is to be featured on Friday, Mehreen
4.
(b)2
(d)4
(c) 3
(e) 5
Tuesday
(d)Friday
Sobia is to be featured on Friday, what is the

total number of acceptable schedules available
to the manager?
If
(01
day on
immediately before or immediately after the
which Nadia is featured.
1. If Nadia is to be featured on Thursday' the
is
earliest day on which Rubia can be featured
(a) MondaY
(c) WednesdaY
(e) Saturday
Ameena must be featured exactly two days

after Rubia is featured
Rubia must be featured on Wednesday
nuUiu must be featured later in the week
(a) ReaP
(c) Tore
(e) Pear
Qr-nsttoN
(b)Rare
(d)TCar
ll-12
Answer these questions referring to the symbol'

alphabet or number sequence given below
PY4#AQ@KB 8D 5 * E%'25
F@6HM3W(X)
?9R
11. If alt the symbols are dropped from

sequence, then which element will be in
18
19.
is open for people every

Saturday but it is closed on
Sundays. The blstro gives out only lunch on
Mondays, Tuesdays as well as Thursdays,
center in the new sequence?
(a)5
(b)E
(c)2
11
?,WinthesalnewttasB,E
related to?
guidelines:
(a)S?
(C)W(X)
(b)6 l
(d)None ofthe abOve

13.- Clorida is taller than Ivory. Emily is taUer than
Lovely. Lovely is taller than Enamol. To
determinb who among them is ths +qllg5!

which of the following further information, if
any, is required?
(a) Clorida is taller than Enamol and I_ovely

(b) No further information is needed
(c) Emily is taller Ivory
(d) Clorida is raller than Lovely
(e) Enamol is taller rhan Ckrrida
14. Four of the following five are similar in
(C)Shirt
(e) Cap
If dinner is given out on a day that trees are

watered, which of the following sentence
(b) Trees are watered on Saturday
(c) Floors are cleaned on Wednesday
(d) Trees are watered on Tuesday
(e) Trees are watered on Wednesday
20. Joseph, Jackie and Ninda are the

mountaineers. Joseph
(d)Shoes
Jackie
are 2ti stcps in a Church. In the time

Sandy comes down two steps, plato goes one
If they start simultaneously and keep

their speed unifornr, then at which step from
bottom will they meeL
(e)
16.
(b) l2rh
(ai g'n
2'1..
None of the above
In certain code Language the
words
ROUTIhIE is writtcn as VMRGILI. How wil

the word CRUELTY be written in that code
language?
(a)VOCVZRL
(C)VPCVZRL
(b)WPCVZRL
(d)VPVCZRL
(e)Nonc ofthe above

QtIESTION 17 _18
1n each Of the following questiOns, groups Of
lctters havc bcen given,Out of which threc arc alikc.
Ch9ose the odd One Out.
17. ChOcDSe the Odd One Out
(a)Treat
(c)Ratcs
(b)Grcat
(d)Hcard
(a) Wear
(c) Cear
(b)
(d)
18. Ch00se the Odd One OuL
three
Jackie's brother,
Ninda,s brother. Ninda is not
sister.
(a) Should be True
(b) May be False
(c) Should be False
(d) Cannot be determined
step.
9*.
l3tr'
is
is
Josqph's brother. Therefore, Ninda is Josephrs
15. There
(c)
Trees are watered two days every week,

but not at all on repeated days anfl never
on the same day are the floors cleaned
Floors are cleaned three days every week,
but never on repeated days and never on
the same day are the trees watered.
should be true?
(a) Floors are cleaned on Thursday
definite way and so form a group. Which one

ofthem does not belong to the group?
(a) Umbrella
(b).Gloves
(a)
to
while it gives out only supper on Wednesdays,

Fridays, as well as Saturdays. On days that
Hotel is open for people, floors are cleaned and
trees are watered according to the following
(d)Thcrc is nO center clcment
12.tp
specialty hotel
Monday
'
In a furniture
store there are seven lamps.
Every lamp has either ceramic or wood base,

and every liamp comes with either a red,
brown, or yellow color.
o Lot of lamps has a

o
r
ceramic
base
compared to a wood base
AII red colored lamps are paired with
ceramic base
There is no lamp with a wood base has a
brown color
Which of the following sentence about the

seven lamps is not true?
(a) Five lamps have a ceramic base
(b) Five lamps have brown shades
(c) Five lamps have red shades
(d) Four lamps have green shades
(e) Four lamps have wood base
21
QuesuoN 22_ 31
In each of the following
56.
questions, groups of
letters have been given, out of which three are alike
in some way and one is different. Choose the odd
one out.
22.
(a) Curtain
(c) Shirt
In
1.970, the average child visited the dentist

once a year. By 1990 the number of visits
increased to two. Today, the average child
visits the dentist three times a year. Each of
the following, if true, could explain this trend
except.
(b)
(d)
'a)
Saree
Petticoat
35
23, Choose
(a)
(c)
U.
25
the odd one out.

(b) Class
Ground
(d) Student
Teacher
(a) Inhabit
(c) Reside
(b) Vacate
(d) Dwell
36
(b) Nylon
(d) Terylene
n.
(d) Toy
(a) Rule
(c) Law
(b) Common
(d) Custom
(a) Brother
(c) Uncle
29.
(b)
(d)
Father
Srudent
as famous
(b) Pigeon
(d) Kiwi
(b) Juggler
(d) Musician
(a) Attachment
(c) Hatred
(b) Love
(d) Affectirrn
QursuoN 32-36
All the question given below
which have definite relationship
32.
Degree: Angle
(a) area: square inch
(b)
(c)
(d)
(e)
milk:quart
civilization : classes
letter: alphabet
time: minutes
33. Confirmed:Ingrained
(a) awareness : theoretical
(b) financial :bankrupt
2fi)4'
f'Y--InsurveY
or
it orr.u ,n* "orilillomer
shy or over aggressive.
(a) Categorized (b)

(d)
(c) Intoned
(e) abstained
each other,
followed by five alphabets pairs of associated words.

Choose the alphabets pair of words.
the-
roll, 36 7o of the
(a) Insidiousness---repeated seriously

(b) Practice----inculcates
(c) Shine---presages
e lasr
(d) Technique----presages
rs
(e) Caginess----indicates
38. A child should not be---as being either very
has two words
to
tneanir".
whole.
37. The fact that
31. Choose the odd one out.
misplaced. Below ev.

specified as option. Sel,r.
blank that perfectly fits *re
as a
(a) Trickster
(c) Magician
blanks. Every blank rnce personnel are not always
(a) Parrot
(c) Spanow
the
Every senten.
?8.
30
Hate
^--,!tion
y:'1.'. defend themsclves againit
(a)
(d) runnert that past such legislation improved

(c) Danishtion does not mean that the present
do the same
ougsrtoN 37llto
new law is not as strong as the
' ?rt. Choose the odd one out.

(b).Love
(a) Joy
(c)
i";ofdental care
ljlDental care has become less painful
(e) ^lone of the above
of new anti terrorist legislation
dairn', author's strategy by arguing
(b) fish India's border partners have also
(c) fieigl similar legislation
Choose the odd olle out.
(a) Cotton
(c) Silk
Better home care of teeth has reduced thc

number ol'cavities
period
1) Oentist fee have declined over the
Parents
of
the
impoftance
are
more
aware
16
39.
Instructed
Unfocused
President Farhaad sheikh of Egrpt igroring

disapproval in the Arab world and in his
own administration, accepted Prime
Minister Zishan Ktran Invitation to visit Iraq
in order to address the Iraqi parliament.
(a)'Acrimoilious---formally
(b) Flawed---awkwardly
(c) Definite----earlier
(d) Spiteful---plainti vely
(e) Alluring----scrupulously
ll. If all
the symbols are dropped from

will be in
sequence, then which elemcnt

12.
(e) None of the
th
l1
(a)5
(b)E
(c)2
ay
(d)There is nO center elcmcnt
;We
47.
13.
14.
(e)
(d) Noneof t,
Lovely. Lovely is taller than F

determinb who among them i. are given
which of the following furtherrsions choose
my, h required?
(a) Clorida is taller than Enamc
(b) No further information i, n'-Be'' Nltrogen
-rore' oxygen is
(d) Clorida is taller than Lovr

(e) Enamol is taller than Clr,'.e . .
obu'ty
Four of the following fi,
definite way and so form
48.
49.
t*"
(b)
(d)
step.
for washing because
their
True
Probably true
(d) Rush to the fire brigade
srarion and inform

None of the above
50
advertising is powerful
It dissolves dirt in water more easily

The
perfume is pleasant
r/
1e) None of the above
Each of the following, if true, could help to

personal
secretary. Which of the following quality would
you consider as most impontant?
(b)
(c)
(d)
same unit of output

output decreased
She musr be highly educatid

Stre must be an efficient stenogrlpher
None of the above
dispose the matter

Try to run away from the spot immediately
Take him to the Doctor and arrange for the
medical aid
food
half times.
l,'' You have been asked to appoint a
While riding on a scooter, you find someone

following will be your resg)nsibility?
(e)
From 1940 to 1970, the amount of
production per worker and per hour increased

two fold. From 1970 to 2fi)0, food production
per worker and per hour increased one and a
1e
4.
At midnighg you heard the voice of several

people shouting 'tire". Which of the following
to what extent
botfs shape is convenient
(c)
(d)
(e)
of warer
'(b) Continue to sleep till you are called lirr

(c) Rush out of the room with buckers of water
TttCabovc
Ifd

(a) It is spongy
(d) Its weight is less than the weight
of equal volume
of them does not belong ' milk makes i! whiJe.

ir. Therefore, rice also
(a)Umbrclla
(C)Shirt
tuberculosis
None of the above
yorr would do?
-__
(e)Cap
the

weather is favorable for the patienrs of
G) 6M
Clorida is taller than Ivory. Emily is
of tuberculosis visits
(d) Cold
related to?
S?
W(X)
Generally a patient

#,8 is related to ?, W in the same way a,ru..
(a)
(c)
above
51.

Starting in 1985, all drivers had to wear
helmets if they have to drive a two wheeler.
From which of the following can this statement
be properly inferred?
(a) Some drivers may have worn helmets

before 1985, but all two wheeler drivers
were required to wear them beginning in
1985
(b) No drivers had to wear
helmetS before 1985
(c) Two wheelers drivers were the first to be

(d)
56.
required to wear helmets

Two wheelers drivers had to wear helmets
prior to 1985

52.
Snakes and hawks are the predators of mice in
immediate result?
(a) Increase in the number of snakes
(b) Decrease in the number of snakes and hawks
(c) Decrease in the number ol mice
(d) Decrease in the number of dogs
53.
Opposition of new anti terrorist legislation
None of the above
Average family income in the cities has

increased today as compared to the last few
years, as in most families these days' husbands
and wives are working. This sentences implies
all the following except
(a) Family income level was lower few years ago
".
earlier bill
defence personnel are not always
(d) That the

right
today as compared to last few years
(e)

58
nranagers.
Which of the following conclusion may not

be inferred from thc above information?
(a) All team sports have socialist tendencies
(b) All team sports are authoritarian
(c) Without employee subordination to
managerial authority, production for profit
None of the above
ln?m}
according to a news po[,36 7o of the

voters had leaning towards patty "Y". In 2004,
tlris figure ros: to 46?o. Bul in another survey
the percentage \tras down to 407o. Therefore,
the party "7]' k likely to win the next election.
Which of the following, if true, would seriously
weaken the above conclusion?
(a) People tend to switch their votes at the last
minute
(b) It
of the voters
party
"Y"
vote in an
belonging to the
election as compared to 50o/t, of the voters
belonging to party "Z"
(c) People vote fbr the best candidate, not fbr
would not be possible
(d) All team players are subordinate to their

coaches

If in your college hosiel mess, you find that the
vegetable curry being served for the last ten
days is having a lot of stones and you are fed
up with it. What will you do?
(a) Buy your own vegetables and cook it in
your room
(b) Irave consuming the vegetables altogether
(c) Speak with cook to change the vegetable
(d) Bring the matter to the notice of the mess in
charge and if nothing is done by him, then
inform the hostel administration
The fact that past such legislation improved

the situation does not mean that the present
bill will also do the same
(c) That the new law is not as strong as the
work earlier than today
55
the
passed similar legislation
(b)
(d) More husbands and wives are working
Team sports like cricket display socialist

tendencies in their requirements of individual
subordination to the authority of coaches and
could defend themsclves against
legislation's author's strategy by arguing

(a) That India's border partners have also
(b) Wives earn more than husbands today

(c) It was more prevalent for one spouse to
54.
L970, the average child visited the dentist

except.
(a) Better home care of teeth has reduced thc
number ol'cavities
(b) Dentist fee have declined over the period
(c) Parents are more aware of the importance
of dental care
(d) Dental care has become less painful
(c) None of the above
the field. Dogs which also feed on rnice are

bought on the scene. What will be the
(e)
In
has been shown that 857o
the party
(d) No one can predict how

59.
people
will vote
Inllation rose by 4.5Vo over the second quarter,

by 3.59o during the first quarter and higher
than 2.5Vo recorded during the same time last
year. However, the higher price index did not
seem to alarm National stock index, as stock
prices remained steady.
Which of the following, if true, could explain

the reaction of National stock Index?
(a) The Prime minister announced that he was
concemed about the rising inflation

Snakes and hawks are the predators of mice in
except.
the field. Dogs which also feed on rnice are

(a) Better home care of teeth has reduced
immediate result?
(b)
(c)
(d)
prior to 1985
52.
(a)
(b)
(c)
(d)
(e)
53.
Increase in the number of snakes

Decrease in the number of snakes and hawks
Decrease in the number of mice
Decrease in the number ol dogs
None of the above
(d)
(e)
57.
The fact that past such legislation improved

the situation does not mean that the present
bill will also do the same
(c) That the new law is not as strong as the

earlier bill
(d) That ,the del'ence personnel are not always
right
(e)
Team sports like crickef disptay socialist

tendencies in their requirements of individual
subordination to the authority of coaches and
58
nranagens.

be inferred from thc above information?
to

att team players are subordinare to rheir

If in your college hostel mess, you find that the
vegetable curry being served for the last ten
days is having a lot of stones and you are fed
up with it. What wil you do?
your room
None of the above
ln
?,002, according to a news poll, 36 Vo of the

voters had leaning towards party "Y". In 2004,
tlris figure rose to 46Vo.But in another survey
tlre percentage was down to 40Vo. Therefore,
the party "Z]' b likely to win the next election.
Which of the following, if true, would seriously
weaken the above conclusion?
(a) People tend to switch their votes at the last
minute
(b) It has been shown that 857o of the voters
belonging
coaches
55
the
passed similar legislation
(b)
(d)
Opposition of new anti terrorist legislation

legislation's author's strategy by arguing
(a) That India's border partners have also
(c) Without employee subordination
thc
number ol'cavities
Dentist fee have declined over the period
Parents are more aware of the importance
of dental care
Dental care has become less painful
None of the above
could defend themsclves against
Average famity income in the cities has

yeans, as in most families these days' husbands
and wives are working. This sentences implies
aII the following except
(a) Family income level was lower few years ago

54.
In
1970, the average child visited the dentist

56.

Two wheelers drivers had to wear helmets
(c)
to the party "Y" vote in
an
election as compared to 50oft, of the voters

belonging to party "2"
People vote fbr the best candidate, not tbr
the party
(d) No one can predict how people will

59
vote
Inflation rose by 4.5Vo over the second quarter,
by 3.5Vo during the first quafter and higher

thal,;r 2.57o reconded during the same time last
year. However, the higher price index did not
seem to alarm National stock index, as stock
prices remained steady.
Which of the following, if true, could explain

the reaction of National stock Index?
(a) The Prime rninister announced that he was
concerned about the rising inflation
(b) Stock prices were steady
of a fear
62, If Victory and Terror are screened the same
(c) Econoniist warned that inilation would
day, which of the following must be true about

the film festival schedule if it conforrrs to its
parameters?
because
that inflation would continue
continue
(d) Much of
(a) Quest to Hope and Wellfleet will
the quarterly increase in the price
level was due to a summer drought effect
(e)
(b)
(c)
on food pnce
None of the above
day
60. While returning from the night
cinema show,
you notice that some stupid people are chasing
two young and beautiful girls going in a Cab.
What will you do in such a situation?
(a) You will pass on your way quietly and take
no notice of thenr
(d) Exactly one day of the schedule will

(e)
63.
(b) You would ask the stupid people to
(c)
will
not
have ar least
AII of the following conform to the parameters
(a) Sarn and Wellfleet are both screened on

Friday
(b) Wellfleet and Terror are both screened
(c)
(d)
(e)
their nasty games

None of the above
61. During ?ft02, advertising expenditure on

readymade garments increased by Z|Vo wltie
have any film screening

Each day of the schedule
one film screening
of the schedule ItrXCEPT
run
away or to go through the consequences
You would seek the help of some passerby
so as to make the girls out of the stupid
people grip
(d) You would escorr girls up to market place

giving no chance to srupid people to play
(e)
be
screened the same day

Victory cannot be screened on Sunday
Sam and Rats will not be screened the same
64.
If
on
Thursday
Victory and Wellfleet are both screened on
Saturday
Quest to Hope is not screened on Friday
Rats is not screened on Saturday
Quest
scheduled
to Hope, Rats, and Terror are

for Wednesday, Thursday, and
Friday, respectively, and if the schedule

conforms to the parameters, thEn it must be
readymade garments rconsumption rose by
25Vo.
true that
Each of the following if true could help explain
the increase in garments consumption except
(a) Per capita consumption
of
unstitched
garments declined
Advertising effectiveness increased
Serving machine production doubled
(b)
(c)
(d) Readymade garments were available in
(e)
more shops
None of the above
QursrroN
(a)
(b)
(c)
(d)
(e)
62-64
Six films (Quest to Hope, Rats, Sam, Terror,

Victory, and Wellfleet) are scheduled to be screened
at a film festival. No more than two films may, be
screened during one day, but all of the films will,be
screened exactly once during the festival held
QuBsuoNS 65
be screened the same day. Quest to Hope
and
Wellfleet are both black-and-white films and should

not be screened the same day.
69
Five persons are sitting in a line. One of the two

persons, at the farthest ends, is sharp. the other one is
fair. An overweight person is sitting to the right of a
feeble person. A tall person is to the left of the fair
person and the feeble person is sitting between the

sharp and overweight persons.
65. TalI person is at which
place counting from
right?
(a) First
(b) Second
(c) Third
(d) Fourth
(e) Cannot be determined
Wednesday through Sunday. The screening schedule

adheres to these parameters:
The producers of Terror will not allow it to be

screened anytime prior to the screening of Victory.
Rats and Sam are complementary shofts and are to
Victory is screened on Wednesday

Victory is not screened on Friday
Wellfleet is screened on Friday
Wellfleet is screened on Wednesday
Victory is not screened on Saturday
ffi.
Which of the following depicts the person to

the left of feeble person?
(a)Sharp
(b)OVerWeight
(c)Fair
(d)Ta
(e)
Cannot be determined
V
(2
Q
RI
Of
el(
Q.
Rc
Q.
Re
Q.
Re
Jos
Q.
R
COII
cera
WOo
67.
Which of the following persons is sitting in
the ddle?
(a)Fair
(C)Sharp
(e) Overweight
68. To whose left
(b)feeble
(d)TaH
69. If the fair person and oyerweight person

swap their position, so also tall and feeble,
then who will be sitting to the left of the
feeble persOn?
is the overweight person
(b)Fair
(C)Overweight
(d)Sharp
(e)
sitting?
(a) Fair
(c) Tall
(e) Cannot
(a)Tall
(b)Sharp
(d)feeblc
be determined
ANSWERS
d
6.
12.
13.
25
26.
32.
33.
39.
40
46.
53.
60
67.
2.
3.
9.
10
15.
17.
18.
23.
24.
22.
16.
8.
29.
30.
36.
37.
38.
44.
45
51.
52.
57.
58.
59.
64.
66.
19.
7.
14.
27.
28.
d
d
34.
35
41.
42
47
48.
49.
54.
55
d
d
b
56
63.
68.
21.
2().
d
b
d
43.
50.
4.
11.
62.
69
`5.
Sour ExpuruaroRy
RrRsorus
Q.8: d
Q.222 d
BeaSCDn:Allthe other groups conmin thc alphabet E.
Reason: Except the word Curtain, all the others can be

wom.
Q.9: d
Reason:AH hc other groups cont n thc letter T E A Q

R.
24:d
Reason:Exccptthc wOrd Vacate,a11 0ther wOrds lncan
Q.11:d
ReascDn:PY4AQKB8D5E2S9RUF6HM3
to stay
Q
W.We can sce that numbcr of clelnentsis even nu ber
25:d
Reason:Only CottOn is Own in flelds.
26:d
(22),thcrC iS no ocnter elernent possible.
Reason:Exccpttoy,aH other wOrds dcsc
12:d
Reason:Number of elellllents between the second pair

Of Clernc,tS iS dOuble with respect to tte number of
elelncnts bctwcen the i t pa ofelclnents.
Q
28:d
in rclation.
18:d
29:d
Reason:Except Kwi,al1 0tller words are the namcs Of
20:d
bds.
Reason:From thc above stateEcntit clcar dlat Ninda is
30:d
Joseph's sister
Q.21:d
Reason:Itis said that sevcn lamps havc a cera

c base
comparcd tO a w00d basc at least fOur shOuld have a

ccrarrllc base. erefore,notlnorc thanree can havc a
wood basc.
bc emOtiOns.
Reason:Except hc wOrd studcnt,al other wOrds comc
Reason:Allthe words except eared

Q
27:d
ReascDn:All words except coFrlmC3n arc related tO Law.

Q
17:d
ReascDn:All othcr groups have the lctters T E A R

Q
W d
n he"uR Mttd
Reason:Except the word Hatred,all the other wOrds

signify7 Love.
24
ArvalYTrcAL Snnn PLE PAPERS
SavrprE Perrn
-I
David ranks seventh from the top and 28th

from the bottom in a class. How many
students are there in the class?
(a)6
(b)35
(c) 3a
2,
3.
determine who among them is the tallest.

which of the following further information, if
any, is required?
(a) Clorida is taller than Enamol and Lovely

(b) No further information is needed
(d) Enamol is taller than Clonda
(b)Acne
(d)Giddy
Select from the following, which is different

from the others
(a) Great
(b)TrCat
9.
from the others

Tore
(C)Shirt
10
(b)Rarc
(d)TCar
Reap
Pear
QursuoN
5.
KB8D5*E%2S?9RU$F@
If all the sy nbols are dropped from the
sequence,then which element will be in the
(c)
(d)
6.
will the word CRUELTY be written in that
(a)VOCVZRL
(C)VPCVZRL
(b)WPCVZRL
(d)VPVCZRL

as B,E
(a)S?
7.
(b)E
There is no center element
is related to?
There are 26 steps in a Church. In the time

Sandy comes down two steps, Plato goes one
step. If they start simultaneously and keep
code language?
#,8 is related to ?, W irt the same way
(d)ShOes
11. In certain code Language the words

ROUTINE is written as VMRGFLI. How
(a)5
their speed uniform, then at which step from

bottom will they meet.
(a) 9*
(b) l2't'
(c) 13ft
(d) 8*
Answer these questions refOrring to the symbol,

alphabet or number sequence given below
PY4#AQ
6HM3W(X)
Four of the following five are similar in

of them does not belong to the group?
(a)Umbrclla
(b)Glovcs
(c) Tears
(d)TablC
(e) Later
4. Select from the following, which is different
(a)
(c)
(e)
Clorida is taller than Ivory. Emily is taller

than Lovely. Lovely is taller than Enamol. To

from the others
(a) Eee
(c) Mother
Leave consuming the vegetables altogether

Speak with cook to change the vegetable
Bring the matter to the notice of the mess in
None of the above
6M
None of the above

(C)W(X)
If in your college hostel mess, you find that
the vegetable curry being served for the last
ten days is having a lot ofstones and you are

fed up with it. What will you do?
Quesuou 12-13
In each of the following
questions, five groups of

given,
have
out of which three are
Ietters
been
in
and
alike
some way
one is different. Choose the
odd one out.
12.

(a) Treat
(b)Great
(c)
Rates
(d)HCard
your room
27
An overweight person is sitting to the right of a

feeble person. A tall person is to the left of the fair
person and the feeble person is sitting between the
sharp and overweight persons.
12. Tall person is at which place counting from

right?
(b)SCCOnd
(a)First
Which of the fo1lowing deplctt the person to
13
the left of feeble person?
(a)Sharp
(b)OVerwcight
(c)Fair
(d)Tan
14
the niddle?
'IIIS
(C) Sharp
(e) Overweight
15. To
left is the overweight
whose
Person
sitting?
(a) Fair
(c) Tall
(e) Cannot
10
Every sentence given under has one or two
(d)feebic
2.
6.
10
14.
13
3.
4.
7.
8.
12.
15.
(a) Insidiousness----repeated
(b) Practice----inculcates
(c) Shine---presages
(d) Technique----presages
(e) Caginess----indicates
7.
:d on
r
,
are
and
redule
ust be
hc twO
r onC IS
(a) Categorized
(c) Intoned
(e) abstained
III
5
QuesrroN 1
All the questions given below have two words
which have definite relationship to each other,
followed by five alphabets pairs of associated
ry
Degree: Angle
2.
Confirmed : Ingrained
as being either
(b) Instructed
(d) Unfocused
President Farhaad sheikh of Egypt, ignoring

disapproval in the Arab world and in
accepted
Prime Minister Zishan Khan Invitation to

visit Iraq in order to address the lraqi
parliament.
(a) Acrimonious--fbrmally
(b) Flawed---awkwardly
(c) Definite----earlier
(d) Spiteful----plaintively
(e) Alluring----scrupulously
(a) area : square inch

(b) milk :quart
(c) civilization : classes
(d) letter: alphabet
(e) time: minutes
(a) awareness : theoretical
(b) financial: bankrupt
(c) undeveloped : immature
(d) believable : unbelievable
(e) wary; gruelling
be-
his dwn administration,
words. Choose the alphabets pair of words.
1.
A child should not
very shy or over aggressive.
:d on
Seupm Pnrrn -
of conflict is no
The fact that the
longer as famous as it once was
progress in race dealings.
be determined
5.
sentences as a whole.
ANSWERS
the
Dory: Van
(a) dairy :bufTalo (b) fish : bus
(c) fieighter : caisson (d) runners : bat
(e) Danish :Dutch
QwsrtoN
6.
(b)Sharp
least
T,oology: Animals
(a) ecology: pollution
(b) botany: trees
blanks. Every blank shows that something has

been misplaced. Below every sentence five words
are speciFred as option. Select one right word for
every blank that perfectly fits the meaning of the
(b)feeblc
(d)Tall
(a)Fair
bc
5.
Which of the fo1lowing persons is sitting in
Lullaby : Barcarole
(a) birth : marriage (b) night : sunrise
(c) cradle : gondola (d) song: verse
(e) song: sonneteer
(c) chemistry : molecule

(d) Past: public
(e) mathematics : arithmetic
(e)CannOt bc detcrrrllncd
rue
don
(d)Fourth
(C)Third
(e)
me
3.
9'
In his general----rnanner, he had covered

himself against this type of loss.
(a) thoughtful
(c) uncanng
(e) scathing
(b)
(d)
fortunate
circumspect
29
watered, which
of the following
should be true?
(a) Floors are cleaned on ThursdaY
(b) Trees are watered on SaturdaY

(c) Floors are cleaned on Wednesday
(d) Trees are watered on TuesdaY
(e) Trees are watered on WednesdaY
6.
ne
ne
ep
12.

(b)
(a) Joy
(d)
(c) Hate
13.
14.
Snakes and hawks are the predators of mice

in the freld. Dogs which also feed on mic:e are
bought on the scene. What will bt: the
sentence
Joseph, Jackie and Ninda are the three

mountaineers. Joseph is Jackie's brother'
Jackie is Ninda's brother. Ninda is not
Joseph's brother. Therefore, Ninda

(a) Should be True (b)
(c) Should be False
immediate result?
(b) Decrease in the number of snakes

(c) Decrease in the number of mice
(d) Decrease in the nurnber of dogs
is
MaY be False
a
a
colour.
Lot of lamps has a ceramic base compared

to a wood base
o All red coloured

o
lamps are paired with
ceramic base
There is no lamp with a wood base has
today as compared to last few Years
brown colour

7.
Which of the following sentence about the
ANSWERS
,seven lamps is not true?
(a) Five lamps have a ceramic base

(b) Five lamps have brown shades
(c) Five lamps have red shades
(d) Four lamps have green shades
(e) Four lamps have wood base
1.
5
9.
Choose the odd onc out.
10.
(a) Ground
(c) Teacher
(a) Inhabit
(c) Reside
11.
Saree
Petticoat
(b) Class
(d) Student
(b) Vacate
(d) Dwell
(a) Cotton
(c) Silk
(b) Nylon
(d) Terylene
6.
7.
8.
10
11.
12.
14.
15
ParEn
-V
We not at all thought that he would way out
to----in order to attain his aim; we always

considered him as a----man.
(a) Appeal----dishonest
(b) Necromancy----pietistic
(c) Reason----admirable
(d) Subterfuge----honest
QussrtoN 2-15
In these particular questions there are given
some statements, followed by the conclusion
which appeals you to be ttle most correct.
2.
Nitrogen gas is lighter than oxygen. Nitrogen

gas is lighter than Helium. Therefore, oxygen
is the heaviest ofthe three gases.
(b) True
(a) Can't say
1..
(b)
(d)
2.
Sauru
(a) Curtain
(c) Shirt
9.
13.
8-
f3
QuesuoN
In each of the following questions, four
groups of letters have been given, out of which
three are alike in some way and one is different.
8.
and hrawks
Average family income in the citiies tnas

increased today as cornpared to the llast ftew
yeors, as in most families these da5r5'
husbands and wives are working. Ttuis
sentences implies all the following except
(a) Family income leve[ was lower t'ew Years ago
(b) Wives earn more than husbands t<ilay
15
In a furniture store there are seven lamps. Every

larnp has either ceramic or wood base, and every
lamp comes with either a red, brown, or yellow
(h) Common
(d) Custom
(a) Rule
(c) Law
Joseph's sister.
,m
;. If dinner is given out on a day that trees are
30
3.
(c) False
(d) Probably true

The presence of calcium in milk makes it

white. Rice too is white in color. Therefore,
(d) Rush to the fire brigade station
rice also contains calcium.

(a) Can't say
(b) True
(e)
(c) False
(d) Probably true
4.
10.
(a) The advertising is powerful

(b) Its shape is convenient
(c) It dissolves dirt in water more easily
(d) The perfume is pleasant
You have beerfasked to appoint a personal

While riding on a scooter, you find somcone
(a)
1985
(b) No drivers had to wear helmets before 1985

(d) Two wheelers drivers had to wear lrelmets

12.
tuberculosis
At midnight, you heard thc voicc of several

people shouting ({ire". Which of the
to what extent
prior to 1985
None of the above
in the field. Dogs which also feed on mice are
immediate result?
(e)
of equal volume

Stdrting in 1985, all drivers had to wear
helmets if they have to drive a two wheeler.
From which of the following can this
(a) Some drivers may have wom helmets
were required to wear them beginnrng in
(d) Cold weather is favorable for the patients of
true, could help to
staternent be properly inferred?
medical aid
(a) It is spongy
if
output decreased
dispose the matter
8.
Each of the following,
account for this trend except (a) More

workers were needed to produce the same
unit of output
(c) 'The number of hours worked per unit of

7.
From 1940 to 1970, the amount of fbod

production per worker and per hour
increased one and a half times.
following will be your reslnnsibility?

(d) Stop your vehicle and say sorry

and inform

None of the above
increased two fold. From 1970 to 2fi)0, food

Soap is used for washing because
6.
13.
(b) Decrease in the number of snakes and hawks

(c) Decreasp in the number of mice
Average family income in the cities has
years, as in most families these days'
husbands and wives are working. This
senterlces implies all the following except
(a) Family income level was lower f'ew years

ago

15
31

14.

Team sports like cricket, display socialist
tendencies in their requirements of
individual subordination to the authority of
coaches and rnanagers.

be inferred frorn the above information?
(a) All teanl sports have socialist tendencies
(b) All teanl sports are authoritarian
l to
Dre
mc
(d)
to
managerial authodty, production for profit
All team players are subordinate to their
coaches
(e) None of tlre above
Of
15
lf in your college hostel mess, you find that
the vegetable curry being served for the last

ten days is having a lot of stones and you are
fed up with it. What will you do?
your ro()m

ANSWERS
tO
2.
3.
4.
6.
7.
8.
10
12.
14.
9.
13.
ks
1.
15.
34
29.
A market where new securities are bought and

sold for the first time is called_.
(a) Secondary market (b) Financial Market
(c)
30.
Money
market
(d) Primary
37.
(b) Indifference Curve

(c) Yield Curve
(d) Utility
market
A market for existing (used) securities rather

than new issue is
called
38.
(a) Secondary market (b) FinancialMarket

(c) Money market (d) Secondary market
31.
Financial institutions that accept money from

savens and use those funds to make loans and
other financial investments in their own name
are best come under the umbrella of
(a) Banks
(b) Financial intermediaries
(c) Government Organizations
(d) Investment Companies
32.
financial institution
(b) Govemment Organizations

(c) Investment Companies
(d) Mortgage Institute
33.
39. A
35
(a) Inflation
(c) Deflation
42.
called .
(a) Interest
(c) Deflation
(b) Inflation
(d) None of the Above
The value at some future time of a

amount of money, or a series of
evaluated at a given interest rate
called-
(c)
(d)
The ability to sell a significant volume of

securities in a short period of timc in the
secondary market without significant price
the principal amount of security becomes due
of
money, or a series of payments, evaluated at

given interest rate is called_.
(a) Annuity
(c) Future Value
44.
(a) Marketability or liquidity

(b) Maturity
(c) Yield Curve
(d) Successful
The life of security, the amourit of time before
(b) Present Value

Future value or terminal value
Growth value
43. The current value of a future amount
(b)Default
(a) Maturity
(b) Due date
(c) Interest Time
(d) Contract Termrnation Time
Money paid (earned) for the use of money is
cBlled_.
(a) Annuity
The failure to rneet the terms of a contract,

such as failure to make interest or principal
is called
(b) Interest
(d) Compounding
41. Interest paid or earned on only the original

arnount or principal borrowed or lent is
concession is called
36.
goods
(a) Compound Interest (b) Inflation

(c) Future Value (d) Simple interest
instf,tution that originates (buys)

mortgages primarily for resale is called
(a)Fault
rise in the average level of prices of
and services is called
called
A financial
payments when due on a loan is

(d) Utility Curve
(C)Utility
(a) Mortgage banker

(b) Govemment Organizations
(d) Investment banker
34.
(a)Yield curvc
underwrites
(purchases at a fixed price on a fixed date) new

securities for resale is called
(a) Investment banker
A graph of the relationship between yields and

term to maturity for particular securities is
called
40.
that
The relationship between yield and maturity

for securities differing only in the light of time
or term to maturity is called
(a) Term structure of interest rates
(b)
(d)
Present value
Interest
Irlterest earned or paid on any previous

intcrest eamd, as well as on the principal
borrowed or lent is called_.
(a) Compound interest
(b) Simple Interest
(c)
45
Annuity
(d)
Prcsent Value
Interest rate used to convert future values to
called_.
present value is
(a) Discount rate or capitalization rate
(b) Interest
(c) Inflation
(d) Perpetuity
33
13.
In a _
partnership
all partners
(c) Accel5,:rrated depreciation

(d) Declin ing balance depreciation
have
unlimited liability for the debts of ttre frrrn
(a) General Partnership

(b) Limited partner
(c) Public Listed
(d) Partnership
14.
21.
Methods ol'depreciation that write off the crcst

of a capital asset faster than under straright line
depreciationt is called
(a) Accelerated depreciation
(b) Double d,ecllining method
(c) Straight lini: depreciation
(d) Linear depn:ciation method
22.
Methods of depreciation calling for anr annual

charge, based rn a fxed percentage, of the
assets depreciatd book value at the be,ginning
of the year of urhich the depreciation charge
Member of a timited partnership not

personally liablc for the debts of the
parhrership is called
(a) Limited parrner (b)

(c) Sole proprietorship (d)
Parrnership
Public listed
of a
partnership with unlimited

liability for the debts of the parbnership is
1.5. Member
called-.
applies is
(a) General partnership

(b) Corporation
(c) Sole proprietorship
(d) Public unlisted
st
he
16.
(c) Straight line depreciation

(d) Linear depreciation method
business form legally separate from its

owners. Its distinguishing features include
limited liability, easy transfer of ownership,
23.
called_.
(a) Corporation (b) Limited company

(c) Public Company (d) Partnership
17.
24.
received by the shareholder is called
(a)
(b)
(c)
(d)
18.
25.
Depreciation
Accounting
Double Declining Method
Double taxation
26.
The systematic allocation of the cost of
capital asset over a period of time for financial

reporting purposed, tax purposes, or both is
_.
called
(a) Salvage
20.
27.
expnses evenly over the depreciable life of the

asset is
called_.
(a) Double Taxarion Method

(b) Straight line depreciation
The market for short term Qess than one year

original rnaturity) government and corporate
debt securities, it also includes government
The rrarket for relatively long term (greater

than one year original maturity) financial
instruments is calld
(a) Money Market (b) Capital marker

(c) Secondary market (d) Financial Marker
Value
(b) Interest
(c) Earnings afrer tax (d) Depreciation
A method of depreciation that allocatcs
(b) Primary Market

(d) Secondary Market
securities originally issued with maturities of

more than one year but that now have a year
or less until maturiff is called
(a) Primary Market (b) Money market
(c) Secondary market (d) Financial Market
(a) Partnership
(b) Sole proprietorship
(c) Limited liability company (LLC)
(d) Public Unlisted Company
19.
Bonus
Cash gain
All institutions and procedure for bringing

buyers and sellers of financial instrurnents
together is called
(a) Money Market
(c) Financial markets
A business form that provides it owners (caled

members) with corporate style limited personal
liability and the federal tax treatment of a
partnership is called
Cash gain
Bonus
The amount by which the proceeds from the

sale of a capital asset exceeds (is less than) the
asset's original cost is called _.
(a) Capital gain (loss) (b)

(c) Earnings after tax (d)
Taxation of the same income twice. A classic

example is taxation of income at the cortrrcrate
Ievel and again as dividend income when
Cash distribution of earnings to stockholders,

usually on a quarterly basis is called _.
(a) Cash dividend (b)

(c) Earnings after tax (d)
unlimitd life, and an ability to raise large sums

of capital is
called__.
(a) Declining bdlance depreciation

(b) Double declining method
28
_.
Bonds and stocks are examples of

(c) Money
(d) Capital marker
market
34
29.
A market where new securities are bought and

sold for the first time is cdled_.
(c)
30
Money
market
(d) Primary
37

(c) Yield Curve (d) Utility
market
A market for existing (used) securities rather

than new issue is called
38.
Financial institutions that accept money from

sayers and use those funds to make loans and
other financial investments in their own name
are best come under the runbrella of
(a) Banks
(c) Govemment Organizations
(d) Investment Companies
32.
financial institution
that
called
39.
_.
financial institution that originates (buys)
mortgages primarily for resale is called

(a) Mortgage banker
40.
The failure to meet the terms of a contract,

such as failure to make interest or principal
payments when due on a loan is called_.
(a)Fault
(b)Default
35

securities in a short period of- time in the
41.
iS
called
(a) Maturity
O) Due date
(c) Interest Time
(d) Coritract Termination Time
called_.
prices of goods
(b) Interest
(d) Compounding
Money paid (earned) for the use of money
called_.
is
(b)In atiOn
44
(d)None ofthe Above
Interest paid or earned on only the original

amount or principal borrowed or lent is
(a) Compound Interest (b) Inflation

(c) Future Value (d) Simple inrerest
A.
The value at some future time of a present

amount of money, or a series of payments,
evaluated at a given interest rate is
5(
called_.
(a) Annuity
(b) Present
(c) Future value or terminal value
(d) Growth value
Value
51
43. The current value of a fufure amount of

nxlney, or a series of payments, evaluated at a
given interest rate is
(a) Annuity
(c) Future Value
44.

(b) Maturity
(c) Yield Curve
(d) Successful
The life of security, the amourit of time before
the principal amount of security becomes due
A rise in the average level of
called_.
36.
(d)UJlity Curve
(a) Interest
(c) Deflation
(b) Government Organizations

(d) Investment banker
34.
(b)Indiffc nce Curve
(C)Utility
(a) Inflation
(c) Deflation
(b) Government Organizations

(d) Mortgage Institute
33.
(a)Yield curvc
and services is
underwrites
(purchases at a fxed price on a fixed date) new

securities for resale is called
(a) Investment banker
A graph of the relationship between yields and

term to maturify for particular securities is
(a) Secondary market (b) FinanciatMarket

(c) Money market (d) Secondary marker
31.
The relatiorship between yield and maturity

for securities differing only in the light of time
or term to maturity is called
called_.
(b)
(d)
Present value
Interest
Irlterest earned or paid on any previous

interest earnd, as well as on the principal
52
borrowed or lent is called_.

(b) Simple Interest
(c) Annuity
(d)
45
Present Value
53
Interest rate ursed to convert future values to
called-.
present value is
(a) Discount rate or capitalization rate
(b) Interest
(c) Inflation
(d) Perpetuity
541
35
6. A
series
of
equal
occurring over
periods-.
(a)
(c)
47.
An
payments or receipts
specified number of
(b) Future Value

(d) Annuity
ordinary annuity whose payments
Present Value
Interest
receipts continue forever is called

(b) Annuity
(a) Perpetuity
(d) Future Value
(c) Present Value
than nominal rate. Such a rate is called-.

(a) Compound Interest
(b) Effective annual interest
(c) Amortization
(d) Nominal (stated) interest
is
56.
rta
A tabte showing the repayment schedule of

interest and principal necessary to pay off a
loan by maturrty is cBlled-.
58.
'
The amount of rnoney that could be realized if

an asset or a group of assets is sold separately
from its operating organization is called-.
continuing operating business is cdled-.

(a) Market Value
(b) Going concern value
(c) Intrinsic Value (d) Face Value
53. The market price at which an asset trades is
54.
value
(a) Stock
(c) Consol
(b)
(d)
Debenture
None of the Above
A bond that never nutures is called-'
stock that promises (usually) fixed

dividend, but at the discretion of the board of
directors.
It has preference over comrnon stock

dividends and claims on
in the payment of
assets is
called
(a) Debenture
(c) Bond
zl
represent the ultimate

ownership and ristri position in a corporation
Securities
are
that
called-.
(a) Debenture
(c) Prefened Stock
62.
Face Value
(d) 'Bond
Annuity
Preferred stock
Common stock
Coupon
The expocted rate of return on a bond if

bought at its current rnarket price and held to
maturity is cdled-,
(a) Bond discount (b) Yield to maturity

(d) ExtraPolation
(c) Annuity
63.
Estimote
an unknown number that lies
sonrewhere between
two known numbers
is
called
(a) Extrapolate (b) InterPolate

(c) Curve Making (d) Simulation
-.
64.
The amount by which the face value of a bond

exceeds its current piice is
The price a security "ought to have" based on

all factors bearing on valuation is called .
(a) Market value O) Face Value
(c) Intrinsic
Coupon rate
Simple Interest
60. A $pe of
caIed
(a) Going Concem Valugr
(d)
(b)
(d)
(a) Preferred Stock (b) Debenture

(c) Zrro coupon bond (d) CouPon
value
52. The amount a firm could be sold for as a
(b) Market
-. value
(c) Intrinsic Value
(a) Interest Rate

(c) Annuity
59. A bond that pays no interest but sells at a deep

discount from its face valuel it provides
Interest Return
(a) Amortization (b) Liquidation

(c) Annual Interest Value
(d) Compounded Value
(d) True Value
of
Value
Intrinsic
51.
called-.
'
compensation to investors in the form of price

appreciation is called
called-.
(a) Amortization schedule

(b) Liquidation Schedule
(c) Rate of Retum (d)
by
The stated value of an asset is

(b) Market Value
(a) Face value
(c)
(a) Effective annual interest rate

(b) Compound Interest
(c) Amortization (d) Simple Interest
50.
issued
corporation or government is called

(b) Stocks
(a) Bond
(d) Contract
(c) Debenture
rate
The rate of intcret earned or paid after

adjusting the nominal rate for fac'tors such as
the number of compounding periods per year
49.
A long term debt instrument
57. The statcd rate of interest on a bond is best

described by
A rate of interest quotcd for a year that has not

been adjusted for frequency of compounding.
If interest is compounded more than once a
year, the effective interest rate will be higher
48
55
65
called-.
(a) Intrinsic Value (b) Bond discount

(c) Extrinsic Value (d) Yield
The amount by which the current price of
bond exceeds its face value is called-.
(a) Bond premium (b) Intrinsic Value
(c) Extrinsic Value (d) Yield
36
66.
The variation in the market price of security
by
caused
calld
in
interest rates
69. The ratio of the standard deviation of
rate
called_.
(b) Yield
(d) All of the above
(a) Parameter
(b) Coefficient of variation
(c) Interest rate
(d) Probability
Income on an investment plus any change in
market price, usually expressed
as
a
percentage of the beginning market price of the
70
68.
(b) Yield
(d) Return
The variability of returns from those that are
expected is
rate
called-.
A measure of relative risk
is
(a) Coefficient of Variation

(b) Interest rate
(c) Probability
(d) Standard Error mean
investment is called_.
(a) Interest
(c) Risk
distribution to the mean of that distribution is
is
(a) Interest
(c) Risk
67.
changed
71.
(a) Risk
(b) Probability
(c) Return
(d) Coefficient of variation
combination
-.
of two or more
assets is best described
by
(a) Parameter
(c) Portfolio
(b)
(d)
securities or
Program
Beta
ANSWERS
a
2.
6.
7.
9.
10
11.
b
b
5.
12.
13.
14.
15.
16
17.
18
19.
20
21.
25
26.
27.
28.
42.
49.
4.
22.
23.
24.
29.
30
31.
32.
33.
34.
37.
38
39.
40.
41.
b
b
b
d
d
b
47.
48.
54
55
d
d
61.
62.
68
69.
36
43.
44.
45
46.
50.
51.
52.
53.
57.
b
b
58.
59.
60.
64.
65.
66.
67.
71.
35
56.
b
b
63.
70
a
4.
5.
6.
7.
37
ACCOUNTING
)r
1.
2.
9.
Accounting is a means to a(n)
(a) End
(c) Mid
(b)
Start
The primhry distinction between financial

and other types of accounting information is
based on the
_.
An accounting system consists of the

used by an organization to develop
accounting infonnation and cornmunicate
(b) Procedures
Personnel
Records
To be cost effective, the benefit of

something must
(a)
Exceed
_
(a) Import
enterprise in
(a) Time
(c) Import
(a) Investors
(c) Botha&b
12; Potential
7.
Investors and creditors
are
13. In
(a)
(b)
accounting
8.
14, A
The terms financial reporting and financial
statements in
(b) Export
(d) Financial
times
the owner is personally liable for
Private limited company
is an unincorporated , business
organization with a single owner.
(a) Sole proprietorship

(b) Public unlisted company
(c) Financial statements
(d) Private limited company
15
Loaned
Invested or loaned respectively
statements do not mean the same thing.

(a) True
(b) False
(d)
ultimately
_invested.
investors use _
the debts of the business.

interested in receiving back the amount they

have
in one way or
(b) Export
(a) Import
(c) Financial
include
(a) Labor unions and general public

(b) Governmental agencies and suppliers
(c) Customers and trade associations
(b) Export
opportunities.
(b) Creditors
6. External users of finrincial
an
selecting among alternative investment
doing
financial
about
terms.
1-1. Every financial statement

another relates to
Precede
5.. The primary external users of

accounting information are _.
meens for
(c) Financial
cost of doing it.
(b)
is
communicating information
that information to decision makers.
(a)
(c)
(a) Certified Public Accountant

(b) Certified Private Accountani
(c) Certified Pupil Accountant
10. A financial statement
(a) Organization
(b) Users of the information
(c) Govemment
(d) General public
3.
CPA means
16.
Assets = liabilities +
(a) Owner's equity

(b) Outflow
(c) Inflow
(d) Human resource
' means that in the absence of evidence
to the contrary an enterprise is expected to
continue to operate in the foreseeable
future.
(a) Cost principle
(b) Going concern
38
(c)
Sole proprietorship
(d) Inflation
The collection of an account receivable will

in cash and a _..- in
cause a(n)
27.
is the term used to describe increasing
17.
account receivable.
prices.
(a) Sole proprietorshiP

(b) Inflation
(d)
(c) Deflation
is the term
18.
(a) Increase, increase (b)

(c) Decrease, increase
(d) Decrease, decrease
Cost PrinciPle
used
to
describe
is the most liquid of all assets'

(b) Human resource
Cash
28.
(a)
(c) Transport
(d) Machines
decreasing prices.
(a) Sole proPrietorshiP

(b) Inflation
(c) Deflation
(d) Cost principle
29.
(b) Negative
(a) Positive
(c) Stable
30.
(a)
(a) Balance sheet

(b) Income statement
(c) Statement of cash flows
31.
32.
(c) Window appearance

(d) False dressing
The relationship among balance sheet,

income statement and statement of cash
flows is known as articulation
(a) True
24.
25
False
The investment of cash in the bmsiness by the

in an asset and
owners will cause a(n)
-equitY.
owners'
in
in a(n)
(a)
(c)
Increase, increase
Decrease, increase
(b)
(d)
Increase, decrease
Decrease, decrease
The purchase of any asset on credit will

cause
a(n)
On a balance sheet, assets are tisted in the
in the asset and an _.--
Following are basic part(s) of an account
(a) Title and left side (debit side)

(b) Title and right side (credit side)
(c) Right side (credit side)
(d) A&c
33.
urrrorrt t" of debit and credit entries be made

for everY business transaction'
(b) Credit balance
(a)
(c)
Double
Credit cash
..--.
cash used in
(a) OPerating activities
(b) Financing activities
(c) Purchasing activities

(d) Investing activities
35. The two categories of stockholders' equity
usually found on the balance sheet of a
corporation are
(a) Contributed capital and long-term liabilities
(b) Increase, decrease

26. The cast paymernt of an account payable or
in th6 asset
note payable willl cause a ..-
--
--
34. On the statement of cash flows, a company

would report the purchase of machinery Bs
Increase, increase
Decrease, increase
in the liabilitY Paid'

cash and a
(a) Increase, increase (b) Increase, decrease
(c) Decrease, inciease (d) Decrease, decrease
system requires that equal dollar
The
in a liability.
(a)
(c)
@) PaYable
(b) Date of acquisition (earliest first)

(c) Ease of conversion to cash
(d) Importance to the operation of the business
on the
refers to enhancing the

The term
appearance of the enterprise's financial
statements by taking certain steps near the
end of the financial reporting period.
(a) Window dressing
(b) Dressing
(b)
Receivable
order of =.--.
(a) Dollar amount (largest first)
statements are all based

underlying transaction.
(b) Different
(a) Same
23.
Receivabie (b) PaYable

are assets that will shortly
Account
convert into cash.
21. Financial
22.
is a liabitity that requires
Accounts
(at
20. Financial stateIIlents include

.
dePartment
payment.
cash flows mean that cash increases'
19.
Increase, decrease
in)
(c)
(d)
36.
ContriUuted capital and property' plant' and'

equiPment
Retained eamings and notes payable
Contributed capital and retained earnings
-.
Most businesses earn revenues
(a) When they collect
accounts receivable
(b) Through sales of 'goods
or
services to
customers
(a)Truc
(c) By borrowing money from a bank

(d) By selling shares of stock to shareholders
37. Operating profitably causes

owners'equity.
(a) Decrease
.
38.
(b)
Increase
'
44. Not all cash payments

45
that
the
process of obtaining revenues.
(a) Profit
(c) Net incomb
(b) Retained earnings $30,000 and
Expenses
46.
(d) Net income
$170,000
(b)Expcnses
(d)Debit
appear on a statement of cash flows?

(a) Cash.flows from investing, ,financing,
service activities
(b) Cash flows from operating, production,
internal activities
(c) Cash flows from financing, production,
growth activities
(d) Cash flows from operating, investing,
financing activities
income statement is
(c) Retained earnings $70,000 and

(d) Retained eamings $80,000 and
47.
and
and
48.
49.
One of the disadvantages of
Balance sheet
a colporation
that
legal entity from the corporation
(c) The corporation and its
balance sheet
income statemenr
notes to the financial statements
headings to the financial statements
stockholders are
subject to double taxation
(d) The corporation must account
for
the
business's transactions separate and apart

from those of the owners
What financial statement would you look at
(d)
A validation
(b) The stockholders are treated as a separate
where would you look?
to determine the total expensies of a business?

(a) Income statement
(b) Statement of retained earnings
An audit
when compared to a parhrership is

(a) The stockholders have limited liability
If you wanted to lmow what accounting rules

a company follows related to its inventory,
The
The
The
The
(a) A certification
(c) A verification
(c) The amount'of rent used up (incurred) in
(a)
(b)
(c)
(d)
An examination of the financial statements of

a business to ensure that they conform with
generally accepted accounting principles is
called
end of the period
(b)FTC
(d)APB
(b),,The amount of cash paid for rent in the

current period less any unpaid rent at the
(d)
The government regulatory agency that has

the legal authority to prescribe financial
reporting requirements for corporations that
sell their securities in interstate commerce is
the
.
(a)FASB
(O SEC
current period
the current period to help generate revenue

An increase in net income
expenses
$110,000
and
the
expenses
$120,000
and
_.
expenses
$160,000
The amount of rent expense reported on the
(a) The amount of cash paid for rent in
50
to make an adjusting entry to

recognize accrued income taxes payable
Failure
would cause an.
(a) Understatement of expenses, liabilities

(b)
period(s)
(a) Matching principle

(b) Double enEy system
40. What are the categories of cash flows that
43.
in the
expenditure helps to produce revenue.
means the cost of the goods

39. The term
and services used up or consumed in the
42.
indicates that expenses should be
Aafaaq Corporation reported the following

amounts at the end of the first year of
operations, December 31, 2010: contributed
capital $50,000; sales revenue $2fi),Ofi); totat
assets $150,000; $10,fiX) dividends; and total
liabilities $80,000. Retained earnings and
total expenses would be
(a) Retained earnings $20,000 and expenses
(c)
'
recognized
in
represents the price of goods sbld and

of services rendered to customers during the
period.
(b) Revenue
(a) Profit
4l'.
The
represent expense.
(b)False
and
stockholders' equity
Overstatement of expenses an'd liabilities
40
(c)
Understatement
and an
of
expenses and liabilities

stockholders'
overstatement
equity
(d)
Understatement
of
57.
of
assets and stockholders'
equity
51.
59
have been made.
(b) Usually are recorded as of the last day of

the accounting period
(d)
at
income
statement account balance and one balance
sheet account balance.
b and c are correct.
possible as a result of,tranqaction analysis?
(a) Increase a liability and increase an asset

(b) Decrease stockholders' equity and increase
60.
(c) lnsurance expense, $0; prepaid

(d)
61.
Which group of accounts contains only those

that normally have a debit balance?
!t)
(c)
(d)
depreciation; Fees earned

lona investment; Cash; Contributed capital
Cash; Inventory; Cost of Goods Sold
Notes receivable; Wages payable;
Operating expenses
62.
69
Which Group of accounts contains only those

(a) Cash; Inventory; Prepaid Insurance

(b) Bond investment; Cash; Conrributed Capital
(c) Accounts Receivable; Dividends; Sales
Revenue
during the month. The ending balance was

$11200. How much did we pay our creditors
(d) Notes Receivable; Wages
70.
payable;
Operating Expense
duripg the lnonth?
None of the above amounts is correct
68.
(a) Accounts receivable; Accumulated
The accounts payable account has a

beginning balance of $2,000 and we
purchased $5,000 of inventory on credit
(d)
insurance
$1,800
Insurance expense, $450; prepaid insurance
$1,3s0
equation
(b)$3,800
prepaid
insurance g0
payable, the following are the effecL on the

equation.
(c)$800
67
insurance $450
be identified with the revenue recognized and

reported for the sanre perfiod is the
(a)$5,800
On April lr2013, the premium on a one-year

insurance policy on equipment was paid
amounting to $1,800. At the end of 2013
iend
of the accounting period), the financial
statements for 2013, would report
(a) Insurance expense, $i,:So; p."pulA
(b) Insurance expense, $1,g00;
54. 'Ihe principle which holds that all of the

extrenses incurrrcd in earning revenue should
the
66
Debits = Credits
an asset
56.
Assets = Liabilities + Stockholders,Equity.

(2) Debits = Credits
(d) Net Income = Revenues + Expenses. (2)
an asset
(a) Equipment increases by $60,000

(b) Liabilities increase by $40,000
(c) Total assets increase by $40,000
(d) All of the above effects occur on
6:
Expenses
(c)
(c) Increase an asset and decrease an asset

(d) Decrease stockholders, equity and decrease
(a) Revenue principle (b) Liability prirrcipte

(c) Timing principle (d) Matching principle
phen a company buys equipment for
$60,000 and pays for one third in cash and
the other two thirds is financed by a note
For each transaction recorded in an accounting

system, the two basic equalities that must be
maintained at all times are
(a) Assets = Liabilities + Stockholders'Equity.
(2) Net Income = Revenues + Expenses
(b) Cash Increase = Cash Inflows _ Cash

Outflows. (2) Net income = Revenues +
least one
53. Which of the following direct effects on the

fundamental accounting model is not
55.
bill, this would

(a) Decrease assers (b) Increase assets
(c) Decrease expenses (d) Increase liabilities
Retained eamings
Unearned revenue
52. Adjusting entries

(a) Are primarily used to change account
balances because of accounting errors that
(c) Always change
,rr.t,
58. If X Company paid $500 for the telephone
Which of the following is not a liability?
(a) Accounts payable (h)

(c) Notes payable (d)
Payment of a liability would

(a) Decrease stockholders, equity
(b) Decrease assets (c) Not iff".t
(d) Increase stockholders' equity
63.
The assumption that a business can continue to

remain in operation into the futurr is the
(a) Cost principle
41
(b) Continuityassumption
(c) Unit-of-measureassumption
(d) Separate-entity assumption '
64.
Which of the following events will
(c) The total amount of stockholders' equity

for a corporation
(d) The amount

cause
retained earnings to decrease?
(a) Dividends declared
by the board
that shareholders have invested

by purchasing a corporation's stock
71.
of
Directors
Which
of the
following would not
(a) Assets decreased

(b) Net income decreased
(c) Stockholders' equity decreased
(d) Liabilities increased
be
considered a current asset?

(a) Inventories
(b) Prepaid Expenses
(c) Equipment
(d) Accounts receivable
66.
The collection of an accormt receivable fmm

a customer would
(a) Increase total assets

(b) Decrease total assets
(c) Not affect total assets (one asset went
72.
be
Balance sheet is always prepared

(a) For the year ended
(b) As on a specified date
(c) None of these
74.
In
(a)
(b)
(C)
Selling stock to investors for cash

Repaying the pnnciple on a bank loan
68.
Financial accomting _.
(a) Provides information primarily for extemal
decision makers
entities
use
of managers of the company

(d) Has been practiced in this country for
approximately the last 15 years
69.
Which flmancial statement shows
the
financial position of a business as of a given
date?
70.
Separate for fire, a marine and accidents etc
Consolidated for fire, marine and accidents
Pakistan, partners can today be fixed at

number.
(a) 10
(025
76. When g00ds are given away as charity or

free samples,the purchases account should
be
(
Debited
(b)crcdited
(c)Recordcd in balance shect
77. The disco ltis a
(a)
(c)
Personal account
Asset account
78. All the direct
(c) Provides information primarily for the
loss
(b) Is required for corporations but probably

would not be done by other business
In
profit and
Buying inventory from a suptr ier on credit
75.
prepared_.
Purchasing equipment with cash
(b)
insurance, the following
accounts are
(a)
Depression
73.
up...one went down)
67. An example of an investing activity would
Depreciation in spirit is similar to

(a) Depletion
(b) Amonization
(c)
(d) Decrease stockholders' equity
(d)
Corporation incurred selling expenses

totaling $35,fi)0 which they agreed to pay
next month. Which of the following is NOT a
result of this transaction?
(b) Net income reported for the period

(c) Incurring an expense
(d) Both A and C decrease retained eamings
65.
Nominal account
Real account
xpenss are charged to
(a) Balance sheet

(b) Profit and loss account
(c) Trading account
79. The paynlent side of tlle cash b00k is under
(a) Statement of retained eamings

(d) Balance sheet
cost by Rs.400.lVhen overdraft,as per bank
Retained earnings refer to

(a) The amount reported as "the bottom line"
(d)Rs 4
80. Which one

considered
of the
accounting record _.
(a) Joumal trial balance
(b)
following
the permanent part
Balance sheet
will dcducted
distributed to srockholders' as dividends
(a)Rs 2CXl will be deducted

(b)Rs 2KXl will be added
(c)Rs 41Xl will be added
on the income statement
(b) The accumulated amou.nt of past eamings

of a corporation that has not been
statelnent,s the starting point
42
(c) Final accounrs (d) Trial
(c) The
balance
81. A working paper which is prepared by the

accountant
called_
(d)
for his own convenience is
(a) Work sheet

(b) Cash flows starement
(c) Balance sheet (d) Final accounrs
82. On a balance sheet, assets are listed in the
88. If you wanted to know what accounting rules

(a) The balance sheer

(b) The income statement
(c) The notes to the financial statements
(d) The headings to the financial statemenrs
order of
--.

(c) Ease ofconversion to cash
'
89. What financial
would report the purchase of machinery as
84.
The
(d)
_.
(a) Operating activities

categories
90.
of
-two
usually
found on the balance sheet of a
corporation are
_.
(a) Contributed capital and long-term liabilities

(b) Contributed capital and property, plant, and
$160,000
$120,000
(d)Rctaincd earnings $80,000

$110,C 0
to
customers
91.
E7. The amount of rent expeirse reported on the
_.
(a) The amount of cash paid for rent in
the
current period
(b) The amount of cash paid for rent in
the

end of the period
and expenses
The govemment regulatory agency that has
sell their securities in interstate commerce is
cash flows that

(a) Cash flows from investing, financing, and
service activities
(b) Cash flows from operating, production, and
internal activities
(c) Cash flows from financing, production, and
growth activities
(d) Cash flows from operating, investing, and
and expenses
(c) By borrowing money from a bank

(d) By selling shares of stock to shareholders
income statement is
Corporation reported the following

operations, December 31, 20032 contributed
capital $50,fi)0; sales revenue $200,0fi); total
assets 9150,000; 910,0ffi dividends; and total
liabilities S80,000. Retained earnings and
(a)Rctaincd camings $20,0 and expenses
)Retained eamings $70,000
Most businesses earn revenues
86. What are the categories of
$170,000
(c) Retained earnings and notes payable

(d) Contributed. capital and rerained earnings
(a) When they collect accounts receivable
(b) Through sales of goods or services
Balance sheer
(b)Rctained canings $30,000 and expenses
equipment
85.
statement would you look at
to determine the total expenses of a business?

(b) Statement of retained earnings
83. On the statement of cash flows, a company

cash used in
amount of rent used up (incurred) in

An increase in net income
the_______.
(a)FASB
(c)SEC
92.
(b)FTC
(d)APB
An examination of the financial statements of

called
93.
(a) a certification (b) an audit

(c) a verification (d) a validation
One of the disadvantages of a corporation
that_.
when compared to a partnership is

(a) The stockholders have limited liability
(b) The stockholders are treated as a separate

Iegal entity from the corporarion
(c) The corporation and its stockholders

are
43
)d)in
nuc

for the
business's transactions separate and
apart
Failure
(C)Total assets increase by$40,00o
(d)A11 0f the abOve cffects occur on the
to
make an adjusting entry to

recognize accrued income tax-es pajable
cquatiOn
yal
Sw:
purchased $5,000 0f inventory 6n credit
would cause an
during the month.The ending balance was

$1,200.HOw much did we pay our creditOrs
dur g the lnOnth?.
kat
ess?
(1)Unlcrs m
l
(a)$5,800
0)$3,800
(C)$800
and sbckhdde
Of asse
(d)Nonc Ofthe abOve amOunts is cOrrcct
equlty
101.Pattnent Of a hab
Ing
(c)NOt affect asscts

(d)Increase stOckh01dersi cquity
Of
lted
(d)Uneamcd revcnuc
tal
l,aA ting entries____.
)tal
tnd
SCs
ses
102.lifltillll:w paid $500 fOr the telephOne
(a)Are p ly used tO change accOunt

haVe becn lnade
y arc rec
1 0U
l
;es
(a)Decreasc assets
balances becausc Of accOunting crrOrs that
the aCCOuntingpc
J ttC htt day Of
l (c)Always/chang at least one incOme

SCS
ty wOuld____
(a)Decrease stockh lders'cquity

(b)Decrease assets
statcmcnt account balance and Onc balance
(b)Increasc assets
H:: : ittS
l".For each trans
m
Systen
the two basi`
:ittT
:
mlntained at alltimes are___.
shect accOunt balancc
(d)Only B and c are cOrrect
97. Which of the following direct

efTects
fundamental accounting moaei-- on the
is not
possible as a result of traniaction
analvsis?
(a) Increase a liability ,na in"rlu."
,rl..",
(b) Decrease stockh;lders, equity
andln"r"u."
Cash lnf10ws _ cash

Ou ows.(2)Net incOme=Rcvcnucs+
Expenses
(C)Assets=Liabilities+stockhOldersl Equity.
(2)Debits=crcdits
C)Net lncOrne=Rcvenues+ExPcnsCS.(2)
an asset
Debits=credits
(C) Incrcasc ah asset and decrease an asset
(d)Decrcasc stOckh01dersi equity and dccrcasc
an asset
98. The principle which h01ds that al1 0f the

expenses lncurred in earning revenue shOJd
be identirled with the revenue recOgnized

and reported fOr the same pe
e l:
d is the
il
113 1iIT
:11
payable,the fo owing are the efFects On the
equation
(a)Equipmcntincreases by$60,ocxl
(b)Liabilitics incrcase by$40,Ooo
(b),Surancc ex"nsc,$1,800; P
d
lnsurance$0
(C) lll: Ce eXpCnse, $o; Prcpaid insurancc
(d)
CC exPCnse,$45Q P p
d hsumnce
44
105. Which group of accounts contains only those

(a)
Accounts receivable;
111. An example of an investing activity would be
(a) Purchasing equipment with cash

(b) Buying inventory from a supplier on credir
(c) Selling stock to investors for cash
(d) Repaying the principle on a bank loan
Accumulated
depreciation; Fees eamed
(b) Bond investment; Cash; Contributed capital

'(c) Cash;Inventory; Cost of Goods Sold
(d) Notes receivable; Wages payable;
Operating expenses
106. Which Group of accounts contains only those
(a) Cash; Inventory; prepaid lnsurance
112. Financial accounting

(a) Provides informa=tion primarily for extemal
decision makers
(b) Is required for corporarions but probably

would not be done by other business
entities
(b) Bond investment; Cash; Contributed
(c)
Capital
(c) Accounts Receivable; Dividends;
Payable;
107. The assumption that a business can continue

to remain in operation into the future is the
(a) Cost principle
(b) Continuity assumption
(c) Unit-of-measure assumption
(d) Separate-entity assumption
of the
(a) Statement of retained eamings

(d) Balance sheet
by the board of
(b) The accumulated amount of past earnings

of a corporation that has not been
following would not
110. The collection of an account receivable

a customer would
(a) Increase total assets
(b) Decrease total assets
distributed to stockholders' as dividends

stockholders, equity
for a corporation
(d)
be
from
(c) Not affect total assets (one asset went

up...one went down)
Decrease stockholders' equiry
on the income statement
(c) The total amount of
considered a current asset?

(a) Inventories
(b) Prepaid Expenses
(c) Equipment
(d) Accounts receivable
(d)
date?
(a) The amount reported as ,'the bottom line"
Directors
Which
Which financial statement shows the
financial position of a business as of a given
114. Retained earnings refer to
(b) Net income reported for the period

(d) Both A and C decrease retained earnings
109.
113.
cause
this country for
The amount that shareholders have invested
by purchasing a corporationrs stock
Wages
Operating Expense
108.
in
approximately the last 15 years
(d) Has been practiced
Sales
Revenue
(d) Notes Receivable;
Provides information primarily for the use

of managers of the company
4o
ANSWERS
1
2.
3.
9.
10
16.
17.
4.
7.
12.
13.
14.
19.
20
21.
27.
31.
32.
33.
34.
d
b
d
35
38
39
40.
41.
42.
37.
44.
45
46.
47.
48
49.
50
51.
52.
53.
54.
55
b
d
57.
58.
59.
60
61.
62.
63.
64.
65
66.
67.
68.
69
70.
74.
75
76.
77.
b
d
1 15
23.
22.
36
b
b
43
29
30
24
18.
25
26.
28
56.
72.
73.
78.
79
80.
b
d
81.
82.
83.
84.
85
86.
87.
88.
89.
90
91.
92.
93.
95.
96.
97
98.
99.
100
94.
101.
108.
b
d
102.
104.
105
109.
103.
110.
111.
112.
71.
106.
113.
107.
114.
b
b
46
ManrETtNG
1.
The process by which companies create value

for customers and build strong customer
relationships in order to capture value form
customers in return is called
(a) Marketing
(b) Management
(c) Human resource
(d) Research
2.
management
8.
The art and science of choosing target markets

and building profitable relationships with them
is called
(a) Marketingmanagement
(b) Market offering
(c) Production concept
(d) Selling concept
9.
The idea that consumers will favor products

that are arnilable and highly affordable and
that the or q,anization should therefore focus
on improvirlg production and distribution
Demands
Wants
Human wants that are backed by buying

power is called
(a)
(c)
4.
Hunger
Demands
Some combination
(b) Wants
(d) Offer
of
products,
efliciency is r alled.
(a) Selling c:ncept
services,
information, or experiences offered to a market

to satisfy a need or want is called
(a) Market offering
(b) Market myopia
(c) Exchange
(d) Market segmentation
5,
6.
(b) Producti() I concept

(c) Market c )ncept
(d) Service concept
10.
The mistake of paying more attention to the

specific products a company offers than to
the benefits and experiences pfoduced by
these products is called
(a) Market offering
(b) Exchange
(c) Market myopia
(d) Product segmentation
The act of obtaining a desired object from
someone by offering something in return is
_.
Exchange
Concept
called
(a)
(c)
(b) Market
(d) Production
The set of all actual and potential buyers of a

product or service is called
(a) Market
(b) Market management
(c) Production
(d) Exchange
The form human needs take as shaped by

culture and individual personality is called
(a) Psychology (b)

(c) Hunger
(d)
3.
7.
The idea that consurfiers will favor products

that offer the most quality, performance,
and features and that the organization
should therefore devote
energy
to
is
(a) Selling boncept (b)

(c) Market concept (d)
11.
its
making continuous product improvement

called
Product concept
Service concept
The idea that consumers will not buy enough

of the firm's products unless it undertskes a
large scale selling and promotion effort is
called
(a) Selling concept (b)

(c) Market concept (d)
Product concept
Service concept
47
18.
Working closelY with Partners in

company dePartrnents and outside
. t ota. that achieving organizational

i' O.p.nat on knowing the needs and wants of
target market and delving t* aelire$
ccDmpanl to jointly brillg greater Value

customers is called
(a) Partner relationship management
(b) Joint venture
s:hcttlls better than COmpeJ10rs dO

called
'
_.-.
(b) Selling concept

(a) Research
(c) Marketing concept (d) Service concept
The idea that a company's marketing
(c) Alliance
(d) Customer
stream of purchases
make over a lifetime
would
customer
the
that
is
called
patronage
of
(a) Lifetime Patronage
O) Share of customer
decisions should consider consumers' wants'
company's requirements, - consumers'

intetet! and society's long run
long
",rn
interests is called
(a) Ethical marketing concept
(b) Societal marketing concept
(c) Customer relationship management
tl.
(d) Customer PercePtion

ttre overall prooess
satisfaction is called
(a) Customer relationship management
,tO
is
nt
(c)
15. The customer's evaluation of the difference

tretween all the benefits and all the costs of a
marketing offer relative to those of
(b) Customer-Perceived value
(c) ComPetition
(d) Customer generated value ,
16. The extent to which a product's perceived
performance matches a buyer's expectation
is called
(a)
(b)
(c) CustomercomPetition
(d) Customerevaluation
Customer satisfaction
Customer matching
17. Marketing messages' ads, and oiher brand
exchanges created by consumers themselves-
both invited and uninvited is called
(a) Branding
(b) Consumer generated marketing
(d) Consumer value
21.
Product
(d)
Customer equitY
The total combined customer lifetime value of

all of the company's customers is called
(a) Share of customer
(b) customer equity
(c) Profit
(d) Customer
relationshiP
The process of developing and maintaining a

strategic fit between the organization's- goals
and capabilities and its changing marketing
opportunities is called -- --=-.
.
Strategic planning
(a) Vision

(b) Customer PercePtion

(c) Customersatisfaction
(d) ComPetition
comPeting offers is called

(a) Customerevaluation
rtion
that a company gets in its product categories

is called
(a) Share of Qustomer (b) Profit
of building and
by delivering superior customer value and
them
Iucts
lnce,
(c) Customer relationshiP

(d) Customer lifetime value
20. The portion of the customer's purchasing
maintaining profrtabte customer relationships
arkets
sharing
19. The value of the entire
;h"
rs of a
that
, The marketing managemetrt philosophy goals
(c)
Objective
Mission
23. A statement of the organization's purpose J

what it wants to accomplish in the larger
environment is called
(b) Mission statement
(a) Vision
(c)
Objective
(d) Goal
24. The collection of businesses and products

that make uP the company is called
(a) Business portfolio (b) Program
(c)
Project
(d) Joint
venture
25. The process by which management evaluates
the products and businesses that make up the

company is called
(a) Portfolio descriPtion
(b) Portfolio analYsis
(c) Program management

(d) Vision evaluation
48
26, A portfolio-planning method that
evaluates a
company's strategic business units (SBLD in

terms of its market growth rate and relative
market share. SBUs are classified as stars,
cash cows, question marks, or dogs. The
method is called
(a) Growth-share matrix
(b) Product grid
(c) Market grid
(d) Customer growrh grid
n, A
portfolio-planning tool for identifying

company growth opportunities through
market penetration, market developmeit,
product development, or diversificaiion is
called
(a) Growth share matrix
(b) Product/market expansion grid
(c) Customer gowth grid

32. Reducing
33. The series of departments that carry out

value-creating activities to design, produce,
market, deliver, and ...ppo"i a firm,s
products is caUed
(a) Value chain

(b)
(c) Supply segmentation
(d) Downsizing
system is best described by

(a) Supply chain
(b) Supply strategy
(c) Supply penetrarion
of current products to current market

the product is
29'.
penetration
development
segmentation
grid
35. The marketing logic by which the busine5s

unit hopes to create customer value and
achieve profitable customer relationships is
called
company growth by
identifying and developing ,"rn market
segments for current company products is
penetration
devekrpmenr
segmentation
(a) Iv[arketing vision (b) Marketing

(c) Marketing vision
buyers who have differentrequire separate products
programs is called
stratery for company growth through

starting up or acquiring businesses outside
the company's current products and markets

is called
(a) Diversification (b) Vertical integration

(c) Horizontal integration
(d) Backward integration
or
(a) Marketing vision (b) Market

(c) Market segmentation
(d) Market product programs
modified or new products to current market

segments is called
needs,
characteristics, or behaviors, and who might
30. A strategy for company growth by offering
31.
srraregy
36, Dividing a marke( into distinct groups of
grid
(a) Market development

(b) Innovation
(c) Diversification
(d) Product development
_.
(d) Value delivery network
A strategy for
called
(a) Market
(b) Market
(c) Market
(d) Market
Supply chain
34. The network made up of the company,

suppliers, distributors, and, ultimately,
customers who partner with each other to
improve the .performance of the entire
segments without changing

called
(a) Market
(b) Market
(c) Market
(d) Market
business portfolio by
company,s overall strategy is called

(a) Firing
(bf Downsizing
(c) Diversification (d) Development
28. A strategy for company growth by increasing

sales
the
eliminating products of business units that

are not profitable or that no longer fit the
37.
marketing
behaviors
A group of consumers who respond in a

similar way to a given set of marketing
efforts is called
(a) Positioning (b) Market segmenr

(c) Differentiation (d) Diversity
3E. The process of evaluating each market
segment,s attractiveness and selecting one or

more segments to enter is called
(a) positioning G, M;;k"t t--set*;

(c) Marketsegmentation
(d) Differentiation
50
by
'
53. Natural
resources that are needed
marketers
or that are
marketing activities is called
u, irp..t"l
affected by
(a) External environment

(b) Internal environment
(c) Competitor environment
(d) Natural envir<lnments
54. Developing strategies and practices that
create a world economy that the planet can
'
56. Laws, government
'
63.
society are called

(a) Extemal environment
(b) Political environmenr
(c) lnternal environment
(d) Technological environment
society,s basic values,
preferences, and behaviors are

(c) Cultural environment
(d) Home environment
perceptions,
64.
".lt"a
(c)
59t
Customer
lloptu
.and
information
for
7:
Marketing research to better describe

marketing problems, situations or markets,
such_as the market potential for a product or
(b) Exploratory research

(c) Causal research
(d) Descriprire resJarch
i
65
called
(a) Marketing Information Systern (MIS)
(b) Enterprise Resource planning (ERp)
Marketing research to test hypothesis abouil
cause and effect relationships
called_-_-
(a) Descriptive research

(b) Causal rqnearch
(c) Secondar.l'research
(d) Explorakrry research
assessing
needs, developing the needed

information and hetping decision makers to
use the information to generate and validate
actionable r-rstomrers and market insights is
Marketing fpsearch to gather preliminary

information lhat wiil help definl problems
is called
(a) Secondary research
Frysh insight
Customer-rlatabase
procedures
the demographics and attitudes of consumers
information that become that basis f*

creating customer value and relationships is
(b)
insight (d)
sIITg
(b) Causal research

(c) Descriptiye research
(d) Secondary research
58. Fresh understandling of customers and the

marketplace derived from marketing
insight
and suggest hypothesis is called

(a) Exploratoryresearch
57. Institutions and other forces that alfect
called
(a) Market
(d)Advcrtising
ii
agencies, and pressure

groups that influence and limit various
organizations and individuals in a given
Si
8TC
Forces that create_new technologies, creating
called
(a) Technological environment
(b) Extemal envilonment
(c) Intemal environment
(d) Political environment
the mrkemg
new product and market opportunities
temtic cOIIec
(a) Green house effect

(b) Global warming
(c) Political environmenr
(d) Environmental sustainability
55.
SAP
Marketing intelligence
66.
Information that already exists somewhet

having been coilected for another purpose
ca ed
8:31
is
(h) Online marketing research

(b) Sampling
(c) Online research
(d) Focus group
alysis,
Secondary research
A form of
observational research ttrat

involves sending trained observers to watch
and interact with consumer in their natural
habitat is best described by _.
earch
a small group of people online

with a trained moderator to chat about a
75. Gathering
pnoduct, service, or organization and gain

qualitative insights about consumer attitudes
and behavior is called
(a) Segmented research

(b) Survey research
(c) Ethnographic research
(d) Research by trainers
(a) Online focus groups

(b) Sample
(c) Social class
(d) Opinion leader
Gathering primary data by asking people

questions about their knowledge, attitudes,
preferences, and buying behavior is called
cribe

(b) Experimental research
(c) Ethnographic research
(d) Survey research
'kets,
rct
or
mers
72.
Gathering primary data
(c) Experimentalresearch
(d) Focus group research
segment of the population selected for

marketing research to represent the
(a)
(c)
Sample
Data
(b)
(d)
Population
Statistic
77. Managing detailed information
by
selecting
matched groups of subjects giving them

different treatments, controlling related
factors, and checking for difference in group
responses is called
(b) Ethnographic research
76.
about
individurl customer and carefully managing

customer touch points in order to maximize
customer loyalty is called
(a) Customer relationship management (CRM)
(b) Managing Information System (MIS)
(c)
SAP
(d) ERP
(a) Primary research (b)

(c) Survey research
(d) Observational research
Gathering primary data
Collecting primary data online through

internet surveys, online focus groups, \ryeb
based experiments or tracking consumers'
74.
database
by observing
relevant people, actions and situations is best
described by
recific
tion is
about
(a) Paid data

(b) Ob"servational data
(c) False data
(d) Commercial online
for
(a) Online marketing research

(b) Segmented research
(c) Focus group interviewing
(d) Ethnographic research
_.
via the internet is best described by
important issues is called
Computerized collections of information

available from online commercial sources or
with.a trained interviewer to talk about a

productr, service, or organizations. T'he
intervie* focuses the group discussion on
data (b) Tertiary data

(c) Collected data (d) Primary data
at hand is called
(a) Secondary
Personal interviewing that involves inviting

six to ten people to gather for a t'ew hours
Information collected for the specific purpose
67,
ANSWERS
8.
9.
d
b
10
15
1`
17.
b
b
22.
23.
24.
29.
30.
b
d
36.
37.
38.
2.
3.
5.
6.
7.
11.
13.
14.
18.
12.
19.
a
a
34
b
d
21.
28.
26.
20.
27.
41.
42
48.
49.
56
63.
70
77.
4.
25
32.
b
b
39.
33.
47.
b
d
54.
62.
69.
b
d
76.
40
b
d
44.
45
46
50.
51.
52.
53.
b
d
57.
5&
59.
60
61.
64.
65
66.
67.
68.
b
d
71.
72.
73.
74.
75.
43.
55
35
2.
1
SI
el
Ci
([
(1
(C
G
al
tII
(a
(Ci
53
MaTaGEMENT
l.
with and through other

people by coordinating their work activities
in order to accomplish organizational goals is
Someone who works
(a) Efficiency
(c) Output
lrader
Worker
organization's products are called
(a)
(c)
9.
.(d) Worker
Managers between the first line level and the
top level of the organization who manage the
work of the first-line managers are
(a) Middle managers (b) First line --.
manager
manager (d) trader

Managers at or near the top level of the
organization who are responsible for making
organization wide decisions and establishing
the goals and plans that affect the entiie
organizations are called_.
(c) Top
4.
.
5.
(b) Organizing
(d) Controlling
Management function that involves the

process of determining what tasks are to bd
done, who is to do them, how the tasks are to
be grouped, who reports to whom, and were
decision are to be made is called
(a) Planning
(b) Irading
(c) Controlling
(d) Organizing
10. Management functions that involves
motivating subordinates, influencing

individuals or teams as they work, selecting
the most effective communication channels,
or dealing in any way with the employer
behavior issue is calldd
(a) Planning
(b) Controlling
(c) Irading
(d) Organizing
11.
Management frinction
that
involves
monitoring actual performance, comparing

actual to be standard, and taking action, if
necessary is called
(a) Controlling
(c) Organizing
12.
(a) Business process reengineering

(b) Management
(c) Psychology
(d) Principles
Getting the most output from the least
amount of inputs: referred to as "doing
things right" is called
(a) Efficiency
(b) Effectiveness
(c) Productivity - (d) Totaloutput
Planning
L.eading
6.
(a) Worker
(b) Top managers
(c) Middle manager (d) First line manager
The process of coordinating work activities
so that they are completed eflicienfly and
effectively with and through other people is
the
developing plans to integrate and coordinate

activities is called
the
(a) First line managers

(b) trader
(c) Manager
that involves
of defining goals, establishing

strategies for achieving those goals, and
proces$
managerial employees who are involved with
the production or creation of
(b) Effectiveness
(d) Productivity
Management functions
at the
lowest level of the

organization who manage the work of non
Managers
Completlng actlvitles so that organizatlonal

goals are attained: referred to as "doing the
right things" is called
(a) First line officer

(c) Manager
7.
Planning
lrading
The set of ongoing decisions and work

activities in which managers engages in the
plan, organization and lead and control is
called
(a) Decision making (b) kading
54
(c) Management
(d) Controlling
13.
22.
procoss
(a)
(c)
Specific categories of managerial behavior is

called
(a)
(c)
14.
Management roles
Controlling
(b) tradership
(d) Organizing
23.
Managerial roles that involve people and

other duties that are ceremonial and
(a) Interpersonal roles

(b) Management roles
(c) Interpersonal skills
(d) Informational roles
Managerial roles that involve receiving,
collecting, and disseminating information is
24.
(b) Irading roles

(c) Management roles (d) Interpersonal roles
Managerial roles that revolve around
17.
in
25
18.
19.
The ability to work well with other people

individually and in a group is called
(a) Technical skills
(b) Decision making skills
(c) Human skills
(d) Conceprualskills
The ability to think and to conceptualize
about abstract and complex situations is
called
(a) Technical skills
(b) Conceptualskills
(c) Decision making skills
(d) Human skills
20
set
26.
27.
(a) Open system (b) Closed system

(c) Process
(d) Operation
A deliberate arrangement of people to

accomplish sonle specific purposc is
The reality that management is needed in all
of organization, at all
organizational levels, in all organizational
areas and in organization ih all countries
around the slobe is called
(a) Universality of management
(b) General rnanagement
(c) Total managemen[
(d) System management
The breakdown of jobs into narrow
33
34`
and
The revolution which involves the advent of
machine power, mass production
and
efficient transportation is called
(a)
(b)
(c)
(d)
28.
Scientific revolution
Interdisciplinary revolution
Industrialrevolution
36t
Entropy
The use of the scientific method to determine

the "one best way" for a job to be done is
called
interrelated and interdependent

parts arranged in a manner that produce a
called a _.
An approach that says that organizations are

different and face different situations and
require different ways of managing is called
(c) Scientific management

(d) General management
(a) Scientific management

(b) Division of labor
(c) Systematic management
(d) Work break down
unified whole is called
21.
Process
repetitive tasks is called

(a) Work break down (b) Division of labor
of
(a) Open system (b) System

(c) Process
(d) Operation
Systems that are not influenced by or do
not interact with their environment is
Closed system
types and sizes
specialized field is called

(a) Technical skills (b) Interpersonal skills
(c) Conceptual skills (d) Contextual skills
(b)
(d)
(a) Organization (b) Leading

(c) Controliing (d) Delegating
making choices is called
(a) Informational roles

(b) Decisional roles
(c) Management roles
(d) Interpersonal roles
Knowledge of and proficiency
Open system
Operation
called-.
called
(a) Informational roles
16
that dynamically interact with their
(a) Anthropology
(b) Contingency perspectives
(c) System perspective
(d) Systematic perspective
symbolic in nature are called
15,
Systems
29
Writers who developed general theories

what mangers do and what constitutes
management practice are known as
(a) Principles of management
--.
(b) Administrative
(c) General
(d) Iraders
administrative theorists
good
30. Fundamental rules
heir
of
38. An internal organizational
management that
communication,
system that uses internet technolory and is
accessible only by organizational employecs
could be taught in schools and applied in all
(d) Principles of management

(b) Bureaucracy
(c) Administrations
(d) Workforce diversity
31.
(a) Internet
(c) Intranet
A form of organization characterized
39.
by
division of labor, a clearly defined hierarchy,
detailed rules and regulations

impersonal relationships is called_.
and
(a) Total quality managemenr

(b) Six sigma
(c) Knowled ge management
(d) Project management
to
improve decision making is called
(a) Quantitative approach

(b) Qualitative approach
(c)
lin
Research
'
40,
A series of studies during the 1920s and 1930s

that provided new insights in individual and
group behavior is called

(a) Hawthorne studies
Ib) Maslow hierarchy of needs
(d) Industrial revolution
and
bor
A worKorce that is more
heterogeneous in
terms of gender, race, ethnicity, age and
other characteristics that reflect differences
ent of
is called
and
(a) Workforce diversity

(b) Workfbrce unity
(c) Workforce spirituality
37.
The process whereby an individual or a

group of individuals uses organized efforts
and means to pursue opportunities to create
value and grow by fulfilling wants and needs
through innovation and uniqueness, ng

matter what resources are currently
controlled is called
(a) Entrepreneurship (b) Intra preneurship
(c) Management (d) kadership

A comprehensive term describing the way an
its work by using

electronics linkages with its key
constituencies in order to efliciently and
organization does
effectively achieve its goals is called
(a) E-business
(c) Intranet
(b) Intemet
(d) Fluid business
organization that has developed the

capacity to continuously learn, adapt, and
(a) Irarning organization
(b) Fluid organization
(c) Virtual organization
(d) Joint venture
(b) Organizational behavior

(d) Bureaucracy
(c) Research
An
change is called.
(d) Hawthorne studies
The field of study concerned with the actions

(behavior) of people at work is called
(a) Psychology
at
A philosophy of management that is driven

by customer needs arnd expectations and
focuses on continual improvement in wo$<
processes is called
(a) Bureaucracy (b) Nationalism

(c) Privac.v
(d) Hypocrlsy
The use of quantitative techniques
(b) Fluid organizations

Cultivating learning culture in which

organizational members systematically
gather knowledge and share it with others in
the organizations to achieve better
perf,ormance is called
(a) Knowledge management
(b) Irarning management

(c) Virtual management
(d) Organic organization
42.
A recognition of an inrrer life that nourishes

and is nourished by meaningful work that
takes place in the context of community is
called
(a) Workplace diversity
(b) Human resource planning
(c) Psychological contract
(d) Workplace spirituality
43, The view

responsible
that
managers
are
for an organization's
directly
success or
failure is called
(a) Workplace culture

(b) Omnipotent view of management
(c) lradership
(d) Symbolic view of management
44. The view that managers have only a limited

effect on substantive organizational
outcomes because of the large number of
factors outside their control is called
(a) Symbolic view of management

(c) Extemal management
(d) Environmental management
56
45.
A system of shared meaning within an

organization that determines, in large
53.
46.
(a)
(b)
(c)
(d)
(a) Organizational culture

(b) Psychological contract
(c) General environment
(d) Specific environment
Cultures in which the key values are intensely
54.
held and widely shared are called

(a) Positive culture (b) Negative culture
(c) Strong cultures (d) Weak culture
47.
is

(b) Intemal environment
(c) Specific environment
(d) General environment
55
organization's goals is called_.
an
(a) Internal environment

(b) Specific environment
(d) External environment
49
56.
51.
57.
External uncertainty
Environmental unceftainty
Internal certainty
Environmental certainty
The number of
components
58.
in
(b) Parochialism
(c) Environmental complexity
(d) Boundary spanning
Any constituency in the environment that is
affected by an organization's decisions and
policies
and that can influence the
(a) Stakeholders (b)

(c) Stockholders (d)
Consumers
Empkryees
company
that
maintains
significant
them from a base in the home country
an
called_.
(a) Multinational corporation (MNC)

(b) Transnational corporation (TNC)
(c) Borderless company
(d) Virtual company
organization's knowledge about its
organization is called
operations in multiple countries but manages
environmental components are called

(a) Environmental simplicity
52.
A world oriented view that focuses on using

the best approaches and people from around
(c) Geocentric attitude

organization's environment and the extent of
an
The view that the managers in the host country

know the best worh approaches arid practices
the globe is called_.

(a) Polycentric attitude
(b) Ethnocentric attitude
The degree of change and complexity in an

organization's enyironment is called
(a)
(b)
(c)
(d)
The parochialistic belief that the best work

approaches and practices are those of the
home country is called
(a) Geocentric attitude

(b) Parochialism
(c) Ethnocentric attitude
(d) Polycentric attitude
Broad external conditions that may affect the

(a)'General environment

(c) Internal environment
50
A narrow view of the world; an inability to

recognize dffierences between people is
(a) Egocentric attitude

(b) Polycentric attitude
(d) Geocentric attitude
The part of th,e environment that is directly
relevant to the achievement of
Boundary spanning
Call center
Intemet
Intranet
(a) Parochialism
called_.
48.
specific \ilays with various
called_.
Outside institutions or forces that potentially
affect an organization's performance
in
external stakeholders to gather and disseminate
degree, how errnployees act is called
Interacting
59.
company
that
maintains
significanl,
operations in more than one country

decentralized management to the local
country is called
(a) Multinational Corporation (MNC)

(d) Virtual company
56
45.
46.
system of shared meaning within an

organization that determines, in large
53.
degree, how employees act is called
important information is called
(a)
(b)
(c)
(d)
(a) Boundary spanning

(b) Call center
(c) Internet
(d) Intranet
Organizational culture
Psychological contract
Generalenvironment
Specific environment
Cultures in which the key value.s are iniensely
54.
held and widely shared are called

47.
called_.
55
(a)
(b)
(c)
(d)
called_.
an
56.
Internal environment
Specific environment
Generalenvironment
External environment
50.
57.
External uncertainty
Environmental uncertainty
Intemal certainty
Environmental certainty
The number of
the globe is called_.

components

58
in
an
(b) Parochialism
policies
(a)
(c)
Stakeholders
Stockholders
(b)
(d)
Consumers
Empkryees
company
that maintains significant
operations in multiple countries but manages

them from a base in the home country
called

an organization's knowledge about its
environmental components are called
52.
A world oriented view that focuses on using

the best approaches and people from around
The degree of change and complexity in an

organization's environment is called
(a)
(b)
(c)
(d)
The view that the managers in the host country

know the best work approaches and practices
for running their business is called
(a) Geocentric attitude

(b) Parochialism
(d) Polycentric attitude

(a)'General environment

(d) Extemal environment


The part of the environment that is directly

organization's goals is
49
(a) Parochialism
(c) Psychological contracl
is

relevant to the achievement of
A narrow view of the world; an inability to

recognize differences between people is
called-.
affect an organization's performance
48.
in specific ways with various

external stakeholders to gather and disseminate
Interacting
(a) Multinational corporation (MNC)

(d) Virtual company
59.
company
that
maintains
significant
operations in more than one country

decentralized management to the
country is called_.
(a) Multinational Corporation (MNC)

(d) Virtual company
57
Yarious
`0.
ieminate
bility to
ople
is
A global type of organization in which

artificial geographical barriers are
eliminated is called-.
(a) Borderless organization
(b) Vinual company
(c) MNC
(d) TNC
An approach to going global that involves
making products at home and selling them
68. A cultural dimension that
describes when
people are supposed to look aftertheir own
interests and those of their immediate family
is
69.
62.
oYerseas is called
st work
r of the
70.
Exporting (b) Importing

Licensing (d) Franchising
An approach to going global
specifications is called
(a) Licensing
(b) Franchising
(d) Importing
(c) Exporting
lractices
64.
rn using
around
65
71.
An approach to going glbbal that
72.
involves
resources and knowledge
in
products or building production facilities is
73.
called_.
(a) Foreign subsidiary (b) Strategic alliance

(c) Franchising (d) Joint venture
nificant
nanages
lntry
is
66.
nificant
but
67.
try
e local
An approach to going global that involves a

direct investment in a foreign country by
setting up a separate and independent
production facility or office is called
(a) Foreign subsidiary (b) Franchising
(c) Strategic alliance (d) Joint venture
The values and attitudes shared by

individuals from a specific country that
shape their behavior and beliefs about that is
important is called
(a) National culture

(c) Individualism
(b) Collectivism
(d) Localculture
(a) Collectivism
(b) Uncertainty avoidance
(c) Power distance
(d) Individualisrn
A national culture attribute describing the
materialism is called
(a) Quality of life
in which both
share
developing new
(a) Individualism
(b) Power distance
(c) Collectivism
(d) Uncertainty avoidance
A cultural measure of the degree to which
people tolerate risk and unconventional
extent to wltrich societal values are

characterized by assertiveness and
partnerships between an organization and a
foreign company
(b) Individualism
(c) Collectivism (d) Quantity of lif'e
A national culture attribute that reflects the
emphasis placed upon relationship and
(a)
(c)
74.
Qualityoflife (b) Individualism

Collectivism (d) Quantity of lifb
The feelings of confusion, disorientation, and
by being
called_.
emotional upheaval caused

immersed in a new culture is
(a) Psychological culture
(b) Culture shock
(c) Socialization
75.
(d) Collectivism
The process thrat employees go through to
adapt to an organization's culture is called
(a) Mentorship
(b) Organizational socialization
(c) Decision making (d) Alliance
-t
called_.
(a) Collectivism (b) Individualism

(c) Power distance
A cultural measure of the extent to which a
society accepts the unequal distribution of
power in institutions and organizations is
behavior is called
An approach to going global by services

organizations the right to use your brand
name, technolory, or product specification is
called
(a) Importing
(b) Exporting
(d) Licensing
(c) Franchising
dimension that describes when

people expect to others in their group to look
called_.
by
involve
manufacturing organizations that

giving other organizations the right to use
your brand name, technology, or product
country
A cultural
are in trouble is
(a)
(c)
63.
(b) Individualism
(d) Local culture
after them and to protect them when they
overseas is called
(b) Exporting
(a) Importing
(c) Licensing
(d) Franchising
going
global that involves
An approach to
products
at home that are made
selling
called_.
(a) Collectivism
(c) National culture
58
76. A
cholce from two
or more alternatlves Is
called
(a) Option
(c) Alternative
77.
(b) Decision
(d) Problem
A set of eight steps including identifying a
problem, selecting an alternative and
evaluating the decisionns effectiveness is
(c) Joint venture

(d) Wrong decision
85
78.
79
86.
discrepancy between an existing and a

desired state of affairs is called_.
(a) Gap analysis (b) Problem

(c) Solution
(d) Mentorship
Criteria that define what's relevant
decision is called_.
(a) Solution
(b) Decision criteria
87.
in
80
88.
Conveying a decision to those affected and

getting their commitment to it is called
(a) Implementation (b) Feedback

(c) Rationality (d) Mentorship
81.
89.
constraints
(b) Bounded rationality

(d) Efficiency
.,good
individual's ability to process information is
called_.
Routine
Rule
A guideline that establishes
parameters for
called_.
(b)
(d)
Problems that are nevy
Routine
Program
or
unusual and for
which information is ambiguous
or
incomplete is called
(a) Poorly structured problems
(b) Structured problems

(c) Ambiguous problems
(d) Incomplete problems
92. A unique decision that requires
made solution is
called_.
(a) Programmed decision

(b) Non programmed decision
(c) Certain decision (d) Risk
(a) Acceptance
(b) Satisficing
(c) Escalation of decision
(d) Psychological contract
An
(b)
(d)
(a) Policy
(c) Rule
that is national within the

parameters of a simplified decision making
process, which is limited or bounded by an
84.
(a) Process
(b) Operation
(c) Procedure
(d) Program
An explicit statement that telts managers
making decision is
Behavior
that are
by
(a) Routine problem

(b) Procedure
(c) Programmed decision
(d) Operation
A series of interrelated sequential steps that
can be used to respond to a well structured
(a) Policy
(c) Program
90
(a) Implementation (b) Efficiency

(c) Rational decision making
(d) Productivity
Acceptance of solution
enough" is called_.
called_.
what they can or cannot do is called
and value maximizing within specified
83.
(a) Un structured problems

(b) Well structured problems
(c) Procedure
(d) Satisfying
A repetitive decision that can be handled
problem is called_.
describes choices that are consistent
(a) Satisficing
(c) Soldiering
Straight forward, familiar, and easily defined

problems is called
a routine approach is

(d) Un programmed decision
subconscious process of making decisions

on the basis of experience and accumulated
judgment is called_.

(b) Intuitive decision making
(c) Un programmed decision
(d) Procedure
called
(a) Programmeddecision
(b) Un programmed decision

(c) Decision making process
(d) kadership
93.
increased commitment to a previous

decision despite evidence that it may have
been wrong is called_.
(a) Escalation of commitment
(b) Contract
A situation in which a nranager
can
accurate decisions because all outcomes

known is called_.
(a) Rule
(c) Uncertainty
--._.:-._---.,.,. __
(b) Risk
(d) Cenainty
,rwEir;r
efined
style
decision making style characterized by a

high tolerance for ambiguity and a rational
way of thinking is called-.
(a) Directive style (b) Analytic style
(c)
Behaviciral
style
(d)
Conceptual style

high tolerance for ambiguity and an intuitive
wav of thinkins is called
(a) Directive style (b) Behavioral style
(c) Analytic style (d) Conceptual style
98.
99.

low tolerance for arnbiguity and an intuitive
wav of thinkins is called
(a) Conceptual style (b) Behavioral style

(c) Analytic style (d) Directive style
(d) Conceptual style
ANSWERS
7.
11.
12
13.
14
18.
19.
20.
21.
25.
26
27.
28.
31.
32.
33.
b
b
35
38.
39.
40
34.
41.
42.
46.
47.
48.
49.
b
b
17.
23.
24.
29
30
36.
37.
2.
9.
16.
4.
44.
50.
b
b
51.
52.
53.
54.
55
56.
,57.
58.
59
60
61.
62.
63.
b
d
b
b
d
66.
67.
70
74.
b
b
69
73.
68.
75.
77.
80.
81.
82.
87.
88.
89.
b
d
b
b
43.
64.
stom
85
or
6.
10.
78
I for
d,
22.
s for
5.
15.
agers
3.
r that
tured
92.
99.
65
b
b
72.
79.
b
b
b
86.
93.
45
94.
95.
96.
76
83.
90.
97.
84.
91.
98.
(c) Directive
by,
ed
97.
Those conditions in which the decision

maker is able to estimate the likelihood of
certain outcomes is called
(a) Uncertainty (b) Certainty
(d) Rule
(c) Risk
A situation in which a decision maker has
neither certainty nor reasonable probability
estimate available is called-.
(b) Risk
(a) Certainty
(d) Uncertainty
(c) Rule
A decision making style characterized by low
tolerance for ambiguity and a rational way of
thinking is called-.
(a) Analytic style (b) Behavioral style
60
BustNEss MarnEMATrcs
1.
Assume a
firm has 240 hours of skilled labor
what is the cost,
available each week to produce two pnoducts.
units?
hours of skilled labor. A unit of second

product y requires 4 hours. The firm,s labor
constraint in terms of an equation can be
(c) 1820
(a)1620
Each unit of the first product x requires 3

8.
What is the cost, if the
9.
For depreciation of a veiricle, a firm
(a)460
(c)660
uses
- 80fi)x equation, where y is current

value of the vehicle and x is number of years.
The value of vehicle after two years will
3.
44000
54000
what is the initial value of the vehicle
(a)68000
(c)8000
4.
(a)48000
(c)5400
(b)69000
(d) 8000
The value of vehicle after three years will
5.
44000
54000
from
the
(a)460
(c)660
(b) s60
(d) 760
11. x/4-x/5=6,the value of x is_?
(a)100
(b)110
(c) 120
12.
xl6
- 5 =xl9
(a)108
(C) 110
13.
(d) 130
+ 1, the value of x is
(b)109
(d)120
Consider the equation 56x + 7y = 91, what
is
the slope in the given equation.
(a)8
(c)7
14. The
value of the intercept in the equation in
(a) 13
(c) 15
QueStion 13 is
15
(b)-8
(d)-7
(c) 1820
uni ?
assumed
What is the cOst, if the rlrm produces 10o
(a)1460
produces no
equatiOn?
The salvage value after 8 years will be
(a)1000
(b)2000
(c)3000
(d)4000
FoR QllESTIoNS 6-1(D
A firm which has fixed cost of Rs. 650 and
marginal cost of Rs. 9, which is the expense
incurred for each additional unit of output x. The
total cost C, can be expressed by the equation
C=9x+560.
6
firm
(b) 560
(d) 760
VVhat rlxed cost, can be
10
be
(a)4400
(c)5400
795
995
units?
y = 68000
be
(b)1720
(d)1920
2.
150
units?
(a)695
(c)895
(b)4x+3y=240
(d)3x+4y=24
the firm produces
what is the cOst, if the rlrm prbduccs 15
written as
(a)3x+4y=240
(c)2x+16y=240
FoR QUEST10NS 2-5
if
Consider the equation 16y = 176. The

of the given equation is _
(a)11
(c) 13
slope
(b)12
(d)14
1720
1920
: i]

=
61
16.
Consider the equation 16y
intercept in the give;r equation
o)I
(a)0
(c)2
(d)
= 176. The x
is_
25. A
vegetable orchard charges Rs. 25 to enter

and Rs. 60 a kilo for whatever is picked. The
cost C as a function of the numbei of pounds
x of apples picked can be written as
Does nor exist
(a)C(x)=0.60x+o25
(b)C(x)=60x+25
(C)C(x)=6x+2.5
(d)C(x)=60x_25
17. For the equation x - y, the x and y intercepts
(d)
(b)
(C) 1,0
--
are
(a)NOnc
11: rm has a rlxed cost Of Rs.7000 and
26
variable cOst Of 6tXl fOr each unit

pllllCtoWhatisth tOtalcOstOfprOduct15
(a)1400o
s 150
(o 160oo
1 1: in
,
::
output will be______.
(a)Y=2500+85X (b)Y=2500+85X
(c)Y=2500=85X
(d)Y=25000+85X
(b)15000
(d)17000
19. A fFlrm has a rlxed cost Of Rs. 7000 and
variable cOst Of Rs. 6oo fOr each u t

WhatisthetOta1lostOfproduct30
cs 15
i ICt
(a)17500
(C) 19500
es no
27.
20
(c)30
28.
(b)8000
(d) 10000
value y Of a cOmputer aFter x yearso What

wili be the value of the cOmputer after 3
years?
(c)85000o
rat is
23.
::in]llllicF7'
(a)60
(c)80
bL
30.
:
31.
p = 52 _ S + 7,
where S=units sold and p
= profit. What
profit the organization will get for 5 units of
Consider the profit function,
(a) 10
(C) 12
24.
slope
(b)11
(d)13
Value V ofthe machines as a functiOn f years

t can be expressed as______.
(a)V(t)=1200-1500t(b)V(t).=12000_150t
(C)V(t)=1200-150t (d)V(t)=12000_1500t
(b)70
(d)90
Prorlt=
+cm
1:tu
nw
(a)Profit=50x
(b)PrOfit=20
(C)Profit 50-2000x(d)PrOfit=50x_2000
32.
111 i : :litl:::ltlill}n31
An Ofrlce machine
WOrth Rs. 12000
depreciates in value by Rs. 1500 a year.
Using linear or straight line depreciatiOn,the
the.equilibrium demand
8 :: it O R
(d)95000o
(b)70
(d)90
29.
sales?
Dn in
(d)40
FOr Question 27, the equ ibrium supply
(a)60
(c)80
(b)1750000
(d)1950000
22.
quantity will be
21. If y=30000oO_450000x,fOr tax purpOse the
(c) 1850000
A rlrm has a total cOst Of Rs. 7000 and
' variable cOst Of Rs. 6000 fOr each unit
(a)1650000
11
Demand:Q=230_8P
S eequmbHut, ?
producto What is the rlxed cost?
n the
e:
Supply: Q=_50+6P
(b)18500
(d)20500
(a)1000
(C)9000
l:
accordingly,
(c) 50
33.
above,the
(d)60
Consider Revenue, R(x) - -3x2 + 4gx and

C(x) = 6x + l2O, then the profit function will
be
(a) Profit = -3x? + 42x + I2O

(b) Profit = -3x2 + 54x + l2O
(c) Profit = -3x2 + 4Zx - t}o
(d) Profit = -3x2 + 54x - t2O
62
34. For the equations in Question
35
(d)Profit= 4x2_56x 180
33 above, the
breakeven level of output is _

(a)4o 10
(b)5 or10
(c)4 or ll
(d)5o 11
44. For the equations in QuestiOn 43 above,the

breakeven level of output is'
Consider the supply function and demand

function respectively as follows and answer
accordingly,
(a)5,8
45
Consider Revenue, R(x) = -5x2 + 750 and

C(x) - 100x + 20000, then the profit function
will be
(a) Profit = -5xr + 650x - 2000
(b) Profit = -5x2 + 650x + 20000
(c) Profit = -5x2 + 650x - 20000
(d) Profit = -5x2 + 650x - 2000
46.
For the equations in Question 33 above, the

breakeven level of output is _
(a)50,80
(b)5 or 10
Supply: P=3Q+10
Demand:P=-ll2Q+80
What is the equilibrium price?
(a)60
(c)80
36.
(c)30
(a) 10
the equilibrium supply
quantity will be
37.
(b)70
(d)90
For Question 35,
20
40
For Question 35, the equitibrium
(c)4 orll
demand
47.
equations are preferably written with the
(a)20
48
What is the equilibrium price?

(a)200
(b)400
(c)600
(d)790
For QueStiOn 39, the equi brium supply
hnear
prograrllming,
In
lt
is
(b)n+1
(d)n+3
51. Every minimization problem in linear

programming has a corresponding
maximization problem and eyery
maximization problem has a corresponding
minimization problem.
(a) True
43. For Revenue, R(x) = -4xz + 72, total cost,

C(x) = 16x + 180, then the profit equation
will be_
(a) Profit = 50x
(b) Profit =-4x2 + 56x -180
(c) Profit = -4x2 + 56x +180
pr
linear programming, Pivoting is the

n equation for
(a) n
(c) n+2
demand
the
process of solving
variables.
the equilibrium quantity
(a)800
(c)400
will be
For QueStion 39,
50.
42
In
ma nzed at the intersection of

twO
constralllts,caued the_pOints.
(a)Extremc Point (b)Lcast Point
(C)Break Even Point(d)Constraint Point
quantity will be
(a)710
(c)930
(b)
(d)
(a)
(9)
49.
Supply: P=r/aQ+200
Demand:P=-ll2Q+S00
41. For Question 39, the equilibrium
maxi jzatiOn prOblenls, the constraint

SIgn
accordingly,
(a)710
(c)830
equations are prefel ably written with th
demand
quantity will be
(b)
(d)
(a)
(C)
_ (c)40
39, Consider the supply function and
40
In n hi zation problems, the constraint
____SIgp.
38: For QueStion 35, the equilibrium quantity

will be
(d)5 or ll
(c)30
(a) 10
quantity will be
(b)5,9
(d)5,11
(c) 5,10
(b)False
52. In the context of Question 51, the original

problem is called
(a) The Dual

(c) Marginal Value
53.
(b)ThC PHmal
(d)ShadOw PAcing
In the context of
Question
51,
corresponding problem is called

(a)The Dual
(b)Thc PHmal
(c) Marginal
Value
(d)
Shadow Pricing
the
54.
(a)
(c)
55,
61, Relative minimum
If lim
,lim24=
.r-+5
(b)6
(d)24
23
,
56.
(a) 2r
(c) 23
63.
If liIII(x2+5x)=
(a)40
(c)60
(b)
64.
1 (d)
The derivative of the function

f(x)=x2 +2x+Sis-
(d)2x
The derivative of the function

f(x) = v3 + 3x +15 is
occurs,
if
(a)f''(X)>0
(b)f''(X)<0
(c) ' )=0
(d)Do not Exist
Taking the first derivative and setting it

equal to zero and solving for the critical
as
Taking the second derivative and evaluating

it at the critical point(s) and checking the
signs, this process is known as
(b)3x+3
(d)None
, m -25)/(x 5)=
(c)3x+15
6011
(d)Do not Exist
(a) First derivative test

(b) Second derivative test
(c) Inflection point
(d) None of the above
(b)2x+24
(a)2x+2
(c)2x+5
(a)3x
(C)f''(X)=0
(a) First derivative test

(b) Second derivative test
(c) Inflection point
59.
(b)f''(X)<0
point(s) is known
57. If lim,lim (x+2)(x 5)=
(a)0
(c)2
if
(a)f''(X)>0
62, Relative maximum
lim x2 =
If lim
:-r5
occurs,
(a)5
(c)25
10
Do not exists
ANSWERS
1
8
15
22
29
36
43
50
b
b
b
b
a
57
64
2
9
16
23
30
37
44
51
58
3
10
11
17
18
24
31
25
32
39
b
d
38
45
52
59
b
b
12
13
19
26
20
27
34
41
48
b
d
b
46
53
33
40
47
54
60
61
b
b
b
d
55
62
7
14
21
28
35
42
49
56
63
b
a
64
Buslrurss SrATrsncs
The sciences of collecting, describing and
interpreting data is called
(a) Sample
(c) Probability
2.
4.
(a)
(c)
(d)Rescarch
A collection or set of individuals or objects or

everrts whose properties are to be anaiyzed is
6.
7.
12. A qualitative variable that

describes,
(b) Variable
(d) population
Sample
Result
(b) Experiment
(d) Research
t
(c)
Parameter
(d)
or
names
population is called
element
of
an
categorizes or
element
of
(a) Random variable

(b) Nominal variable
(c) Numerical variable
(d) Qualitative variable
13. A qualitative
a variable that incorporates an

ordered position or ranking is called_.
(a) Random variable (b) Ordinal variable
(c)
(d)
Nominal variable
Qualitative variable
14. A quantitative variable that can assume

countable number of values is called
(a) Ordinal variable (b) Discrete ,o.irUt"

(c) Random variable (d) Nominal variable
A planned activity whose results yield a set of

data is called
(a)
(c)
8.
,,
categorizes an
(a) Quantitative variable

(b) Numerical variable
(c) All of the above
The set of values collected for the variable

from each of the elements belonging to the
Sample
or
The value of the variable associated with one

element of a population or sample. The value
may be a number, a word, or a symbol. Such
value is called.-,
(a) Data (singular) (b) Variable
(c) Sample
(d) population
(c)
describes
L1. A variable that quantilies an
called_.
sample is called
(a) Data (plural)
(b) Result
(d) Statistic
(a) Qualitative variable

(b) Atribute variable
(c) Categorical variable
(d) All of rhe above
(b)Sample
(d)Vanable
(a) Data
(b) Random variable
(c) Variable or response variable
(d) Sample
5,
called_.
Research
Parameter
10. A variable that
A subset of population is called

(a) Event
(b)Sample
(c) Probability
(d)Va able
A characteristics of interest about each
individual element of a population or sample
is
A numerical value summarizing the sample
data is
(b)Statistics
called
(a) Probability
(c) Population
3.
9.
15. A quantitative variable that can assume an

uncountable number of values is called
Research
(a) Continuous variable

(b) Discrete variable
(c) Nominal vanable
(d) Random variable
16.
A sampling method that produces values which

systematically differ from the population being
24.
called_.
18.
random sampling technique is
belonging to the
population from which the sample will be
drawn is called_.
Population
Judgment
Samples
(a) Stratified sample

(b) Ordered sample
(c) Proportional sample
(d) Stratified sample
25
(b) Sampling frame

samples (d) Probability samples
called_.
frames (b) Probability
19.
(d) Biased
samples
Samples in which the elements to be selected
called_.
21.
22.
27.
A sample selected in such a way that very

element in the population has an equal
probability of being chosen is called
(a) Judgment sample
(b) Simple random sample
(c) Non random sample
(d) Sampling frame
Simple random samples are obtained either
by sampling with replacement from a
population or by sample without replacemenl
from a(n)
population.
(a) Finite, infinite (b) Infinite, finite
sample in which cvery krh item of the

sampling frame is selected, starting from a
randomly selected first element
called_.
is
(a) Judgmental sampling

(b) Systematic sampling
(c) Probabilitysampling
(d) Random sampling
23.
Random
diagram (d)
Sample diagram
Displays the data of a sample by representing

each piece of date with a dot positioned along
a scale is called__-.
(a) Paretc diagram (b) Dotplot display
(c)
29.
diagram (b) Pareto diagram

diagram (d) Dotplot diagram
The pattern of variability displayed by the

data of a variable. The distribution displays
the frequency of each value of the variable is
called
(a) Pareto diagram (b) Distribution
(c)
28
Ordered
Random
diagram (d) Clusrer diagram

The value of the data that occupies the
Sample
middle position when the data are ranked in

order according to size is called_.
(a) Mean
(c) Mode
30
(b) Median
(d) Standard deviation
is tl,e value that occurs niost

_
frequently in the data.
The
(a) Mean
(c) Mode
(b) Median
(d) Variance
31. The number exactly midway between
sample
lowest valued data and a highest valued data.

The number calculated is called
(a) Mean
(b) Midrange
(c) Variance
(d) Mode
32. The difference in value between the highest

value and the Iowest valued pieces of data is
called_.
(a) Mid range

(c) Mean
(b) Range
(d) Mode
A sample obtained by stratifying the

sampling frame and then selecting a fixed
number of times from each of the strata by
means of a simple random sampling
techniques is called
(a) Non stratified sample
(b) Random sample (c) Probability
(d) Stratified random sample
A bar graphs with the bars arranged from

ttne most numerous category to the least
numerous category is called_.
(a)
(c)
is
(a) Probability samples

(b) Judgment sampling
(c) Sampling frames
(d) Biased sampling
20
26.
sampling
are drawn on the basis of probability
called_.
(a) Random sample (b) Cluster sample

(c) Stratified sample (d) Ordered sample
that are selected on the basis of
Sample
Judgment samples
simple
called_.
A sample obtained by sampling some of but

not all of, the possible subdivisions within a
population is
being typical is
(a)
(c)
by stratifying the
from each strata by means of a
A list of the elements

(a)
(c)
sample obtained
sampling frame and then selecting a number

of items in proportion to the size of the strata
sampled is
(a) Sample
(b) Random sampling method
(c) Biased sampling method
(d) Un-biased sampling method
17.
33.
The mean of the absolute values of
the
deviations from the mean is called
(a) Mid range

(b) Mean absolute deviation
(c) Range
(d) Mode
44.The midrange of the data set 3,3,5,6,8i:

(a) 5
45
ranked data into quarters is called
(a) Mid range

(c) Quartiles
(b)
(d)
(a)BivaHate data
(C)Biased data
(a) Inter quarriles (b) Mid quartile_

(c) Percentile (d) Mid range
The difference between the first and third
48.
quartiles
(a)
(b)
(c)
50
Percentile
(d) euartiles
The mean of the data set which consists of
values 6, 8,3, 6,9 and 4 is--.
!tr3 lve
(a)4
40.
(F:medan of
(c)5
(b)6
(d) 10
(a)
(c)
51.
61514131210
(b)3
53.
(d)None
Correlation
Pareto
(b)
Regression
diagram (d) Cluster diagram
is
when
tends to
The correlation is
(a) Negative
(b) Positive
(c) Neither positive
(d) 0
is
eFer edatattTc l _.
(c)2
if x increases
-__
when y tends to
decrease with the increase in the vaiue of x.
(d)4.5
of linear correlation,
The correlation
(d)
52.
43
case
increase with the increase in the vaiue of x.

(a) Positive
(b) Negative
(c) Neither positive nor negative
(d)6
(a) 3.5
In
that there is .-.
41. The mOde of the data set o,o,0,3,4,2,3,2,5 is
(c)4
(b)Positive
and there is a shift in the values of y, it is said
edat 6,5,4,3,2
(a)0
(c)4
42. The median of the data set of
Scatter diagram
Random diagram
case of linear correlation, if x increases

and there is no definite corresponding shift
in the value of y, it is said ihat th"ere is
correlation.
Negadve
Standard score or z-score

Standard deviarion
(b)
(d)
In
No
called_-.
(c)8
diagram
Cluster diagram
The position a particular value of x has

relative to the mean, measured in standard
deviations is
39.
(c)
49.
(b)Random data
(d)Unbiascd data
ttti
(") P*.;"
quartiles is called
38.
(b)5
(d)7
variables Of
that
Obtained
fromdifFerent
the sanle
-COnSiSt
theare
values
of twO
pOpulation element.
The numerical value midway between the first
(a) Inter quartile range

(b) Quaniles
(c) Percentiles
(d)NIlid
(a)4
(c) 6
47.
(b) Quaniles
(d) tnter quartile
quartile and the third quartile is called
37.
(d)8
46.The range of the data set o,1,2,3,4,5,6 is
Mean
Percentiles
ranked data into 100 equal subsets is called
36.
(b)6
(c)7
35. Values of the variable that divide a set of

G) Rrrs"
(c) Percentiles
The range ofthe data set 3,3,5,6,8 is
(a)5
Values of the variables that divide the
34.
(b)5.5
(d)6.5
(c)6
nor negative
linear correlation occurs when all the

fall
exactly along a straight line.
rygi"tr
(a) Negative
(c) Negative
(b) perfect
(d) Imperfect
67
In a scatter diagram, if the data form a

i straight horizontal or vertical line, it is said
316
that there is
(a) No correlation (b) Positive correlation
(c) Negative correlation
(d) Perfect correlation
iS.
fn"
linear correlation coefficient
(a)0
(c)
64.
(b) Perfect zero correlation

(c) No correlation
(d) Perfect positive correlation
for linear correlation coefficient
of
an
Sample space
Regression
68. Two coins are tossed simultaneously,
the
probability that at most one head will occur
Strength
is
(a)
(C)
69. Two
(b)3/4
(d)1
coins are tossed silnultaneously, the
does not tell us about the mathematical

relationship between the two variables.
-(a) Linear correlation coefficient
probability that two tails wi1l occur iS

(a)1/4
(b)0
(b) Linear
(0 1
(d)3/4
regression
tells us about the mathematical

relationship between the two variables.
(a) Linear correlation coefficient
(b) Linear
70
random.The probability that a red ball Will

be picked is_____
The relative frequency with which that event

can be expected to occur is called
71.
(b)COefficicnt
(d)Strength
If
-.
(d)1
bucket contains 5 blue balls and 3 red

balts. A ball is picked from the bucket at
random. The probabitity that a blue ball will
be picked is
(a)
(c)
72.
5/8
7/8
G) 6/8
(d) I
-"
5 blue balls and 3 red
A bucket contains
balls. Red ball is picked from the bucket at

random without replacement. Then the
second ball was picked. The probability
that red ball wilt be picked second time as
(b)
(d)
(a)0
(c)2/7
well is____.
Strength
Regression
(b)2/8
(c) 3/8
(c)
(d)
(a)0
the number of times an experiment is

repeated is increased, the ratio of the
number of successful occurrences to the
number of trials will tend to approach the
theoretical'probability of the outcome of an
individual trial. This law is known as
(a) Probability
(b) Law of large numbers
A bucket contain S blue balls and 3 red

baus, A ba is picked fronl the bucket at
regression
(a) Correlation
(c) Probability
62.
outcomes
is(00
59.
Probability
(d)
Population
(d)'Regression
(c)2/4
Linear correlation coefticient r measures the

pf a linear relationship.
(a) Relationship (b) 0 and I
(c)
(b)
Any subset of the sample space is called

(a) Event
(b)POpulation
(c) Sample
(d)Strcngth
58.
of an outcome is called
67, Two coins are tossed simultaneously, the

probability that at least one head will occur
sisnifies a
(a) Perfect negative correlation

(b) No correlation
(c) Perfect zero correlation
(d) Perfect negative correlation
Research
-1.
(a) Event
(c) Population
an
Sample
of all possible
experiment is called
66.
(b)
(d)
(d)l and 2
result
Sample
Outcome
65. The set
Value'of +1'for linear correlation coeflicient

r sisnifies a
(a) Perfect negative correlation
Value of
Population
A particular
(a)
(c)
always
(b)-l and l
Any process that yields a result or

observation is called
(a) Experiment
and
has value between
(C)O and l
63.
68
73. A bucket contains S blue balls and 3
red
balls. Red ball is picked from the bucket at
random without replacement. Then the
second ball was picked. The probability that
black ball will be picked second time as well
(a)O and l
---
The set of all sample points in the sample

place that do not belong to event a. Such an
Sum of
a[
83.
(a)
(b)0
(d)1
(c)2
Two events x and y are _

events if and
only if the occurrence or non occurrences of
one does not affect the probability assigned
to the occurrences of the other
(a) Dependent events

(b) Independenr events
(c) Both a and b
A sample obtained in such a way that each

possible sample of fixed size n has an equal
probability of
called--.
80
(c)
84.
Events defined in such a way the occurrence

of one event excludes the occurrence of any
of the other events are called
(a) Union evenrs

(b) Intersection events
(c) Mutually exclusive events
(d) Superset events
79
l-cr
(b) Irvel of confidence
(a)-1
78:
The proportion of all interval estimates that

include the parameter being estimated is
called
the probabilities of each event in a
sample space equais
77.
A sample statistic whose sampling distribution

has a rhean value equal to thc value of the
population parameter being estimated. Such
as statistic is known as
(a) Point estimate

(b) Lêvel of confidence
(c) Unbiased statistic
(d) Standard error of mean
--.
(a) Complement of an event

(b) Union of event
(c) Intersection of event
(d) Subset of evenr
76.
82.
(d)-l and o
event is known as
single number designed to estimate a

quantitative parameter of a population'
usually the value of the corresponding
(b) Point estimate for a parameter

(c) Unbiased sample
(d) kvel of confidence
(b)O and l
(C) l and 2
sample statistic is called

(a) Standard error of mean
Probability of an event a is has the range

and
75.
74.
_.
is
81.
An interval estimate with a specified level of

confidence is called
(a) Irvel of confidence
(b) Point estimate
(c) Confidence interval
(d) Standard error of mean
85
The conditions that need to exist in order to
correctly apply
called
(a) Population
(c)
86. A
87.
statistical procedure is
(b) Sample
(d) Assumptions
Events
statement that something is true is called
(a) Assumptions
(c) Null hypothesis
process
between
being selected is
(b) Hypothesis
(d) Confidence
by which a decision is
two
made
opposing hypothesis
is
called
(a) Null process

(b) Standard error of mean
(c) Statistical hypothesis test
(a) Random sample (b) Ordered sample

(c) Bivariate sample (d) Union sampli
The standard deviation of the sampling
(a) Point estimate fbr a parameter
(b) Unbiased statistic
(c) Standard error of mean
(d) Bivariable sample
Both a and b
88.
The hypothesis that is to test is known as

(a) Positive hypothesis
(b) Negative hypothesis
(c) Null hypothesis
(d) Altemative hypothesis
_.
(
69
,statement about the same population

r that is used in the null hypothesis
is known
98. A parameter that identifies each different

distribution of the student,s t-distribution
as_.
(a) Nullhypothesis
(b) Altemative hypothesis
(c) Negative hypothesis
(a) Irvel of confidence

(b) Standard deviarion
(c) Variance
(d) Degree of freedom (df)
Positrve hypothesis
:The,probability of committing the Type
iS called
Assumptions
Irvel of significance (o)
99. Mrs. Smith is writing her daily observations

of a student and writes, without
interpretation, that the student is not
completing the class work and is constantly
speaking out of turn. Which of the following
Events
Distribution
objectives does she appear to be using?

(a) Prediction
(b) Description
(c) Explanation
(d) Exploration
random variable whose value is calculated

the sample data and is used in making
decision
'a)
im11.
d)
'd level
of'fail to reject,' or reject
is known as
Parameter
_.
the
100. Which of the following is a
form of research
typically conducted by teachers, counselors,
and other professionals to answer questions
they have and to specifically help them solve
Test statistic
kvel of confidence
Assumptions
local problems?
(a) Action research

(b) Basic research
(c) Predictive research
(d) Orientational research,
The probability that the test statistic could be

value it is or a more extreme value (in the
of
of the alternative hypothesis) when
'nirll hypothesis is true is
called_.
101. How much confidence should you place
Statistic value
Probability-,value or p-val ue
Assumptions
Hypothesis
)
(b)
(C)
(d)
single research study?
(a) You should completely trust
(O Rectify
'If
different researchers have found the same

findings
(b) Accept
(d) Fail to reject
(c) Neither
102.
the p-value is greater than the level of
significance, the decision must be

Fail to reject
(b) Accept
(c) Rectify
(d) tmprove
The set of values
for the test statistic that will
103.
lf the test statistic faus within the critical
97.
be
h"
to.".i".t
f&,gssume
tb)
n'ail
If the test statistic is not in the critical region,

then the decision must be _
lrn
(a) Fail to accept (b) Accept
(c) Fail to reject
(d) Assume
The development of a solid foundation of

reliable knowledge typically is built from
research
Which form of reasoning is the process of

drawing a specific conclusion from a set of
premises?
(a) Rationalism
(b) Deductive reasoning
(c) Inductive reasoning
(d) Probabilistic
)91tiCalregi9n (d)RttectiOn region
Accept
Reject
(d)Both a and b
(a) Basic research (b) Action

(c) Evaluation research
(d) Orientational research
region,
then the decision must
a nor b
which type of research?
h0
iCauS,ustO r ect the nu hypothesis is called

K ILV 1 0f cOnidence
10). Ceptance reg10n
(a)
(c)
single
(b) You should trust research findings after
is less than or equal to the level

of significance, the decision must be
ho
(a)Re cct
in a
research study.
: If the p-value
edu,
is
called
104.
The idea that when selecting between two

different theories with equal explanatory
value, one should select the theory that is the
most simple, concise, and succinct is known
as
_.
(a) Criterion of falsifiability

(b) Critical theory
70
(c) Guide of simplicity

(d) Rule of parsimony
(b) It is possible to distinguish between
(c)
105. Research that is done to examine the findings
of
someone else using
the "sarne variables
but different people" is which of
following?
(a) Exploration
(c)
106.
Replication
(d) Science is best at solving value conflicts,
the
(b) Hypothesis
(d) Empiricism
such as whether abortion is immoral

112. What general type
of research is focused on
collecting information to help a researcher
advance an ideological or political position?
(a) Evaluation research
is the idea that knowledge comes from

experience.
(a) Rationalism
(b) Deductive reasoning
(c) Logic
(d) Empiricism
(b) Basic research

(c) Action research
(d) Orientational research
113.
107. A-ccording to your text, what are the five

key
objectives of science?
(a) Prediption, sumnury, conclusion,
explanation, description
(b) Influence, prediction,
(c)
(d)
questions,
(3) theory?
114. Rene Descartes
exploration, answers
Exploration, descnption, explanation,
prediction, influence
Questions, answers, prediction,
children learn spelling words. In this
of the following is not a
assumption of science?
(a) Science cannot provide answers

questions
knowledge
(a) Deductive method

(b) Inductive method
(c) Hypothesis merhod
(d) Pattem method
116.
basic
to
all
(a) Empiricism (b) Rarionalism

(c) Expert opinion (d) None of the abovb
Which scientific method is a top-down or
confirmatory approach?
Which scientific method is a bottom-up or
generative approach to research?

(a) Deductive method
of churches in the U.S. where
110. Which of the following is not a characteristic

of a good theory or explanation?
(a) It is parsimonious
(b) It is tesrable
(c) It is general enough to apply to more than
one place, situation, or person
(d) All of the above are characteristics of good
theories
Which
115.
case,
part of the service involves snake handling.

The researcher wants to find out why the
people attending these churches do this and
how they feel and think about it. In this case,
the primary purpose of the study is:
(a) Exploration (b) Description
(c) Influence
(d) prediciion
111.
is associated with which of
generation?
researcher designs an experiment to test

how variables interact to influence how well
109. There is a set
(b) Deductive
(d) Top down
the following approached to
the main purpose of the study was:

(a) Explanation
(b) Description
(c) Influence
(d) Prediction
Which "scientific method,' follows these

steps: (1) observation/data, (2) patterns,
(a) Inductive
(c) Inductive
explanation, summary
108.
more
and less plausible claims
Researchers should follow certain agreed
upon norns and practices
(c)
(d)
117.
Hyporhesis method
Pattern merhod
Which scientific method focuses on testing

hypotheses developed from theories?
(a) Deductive merhod
(c) Hypothesis method
(d)
118.
Partern merhod
Which scientffic method often focuses on

generating new hypotheses and theories?
(a) Deductive merhod

(c) Hypothesis method
(d) Pattern merhod
119. Which of the following statements is true of a
theory?
(a) It most simply means "explanation"

(b) It answers the "how" and "why" questions
71
(c) It can be a well developed explanatory

(d) All of the above are correct
120.
Which research paradigm is based on the

pragmatic view of reality?
(a) Quantitative research
(b) Qualitative research
(c) Mixed research (d) None of the above
121.
127.
Which
of the
(a) And-effecr relationships?

(b) Nonexperimental Research
(c) Experimental Research
128.
describes
(a) Extraneous variables are never present

(b) A positive correlation usually exists
(c) A negative correlation usually exists
(d) Manipulation of the independent variable
l29.ln _,
(c)
(d)
123.
'
data
researcher's
hypotheses
Research that is exploratory
Research that attempts to generate a new
theory
A condition or characteristic that can take on

different values or categories is called
(a) A constant
(b) A variabte
(c) A cause-and-effect relationship
(d) A descriptive relationship
lU. A variable that is presumed to cause a

change in another variable is called a(n):
'
(a) Categorical variable

(b) Dependent variable
(c) IndependentVariable
(d) Intervening variable
of experimental research except:
(b)
(c)
(d)
It
relies primarily on the collection of
numerical data
It can produce important knowledge about
cause and effect
It uses the deductive scientific method
It rarely is conducted in a controlled setting
or environment
126. Qualitative research is often exploratory and
has
all of the following characteristics
except:
(a) It is typically used when a grear deal
is
already known about the topic of interest
(b) It relies on the collection of nonnumerical

data such as words and pictures
(c)
a
It is
used to generaie hypotheses and

develop theory about phenomena in the
world
(d) It uses the inductive scientific method
(b) Basic research

(c) Quantitative research
(d) Causal-comparative and correlational
research
130.
What is the defining characteristic of

experimental research?
(a) Resistance to manipulation

(b) Manipulation of the independenr variable
(c) The use ofopen-ended questions
(d) Focuses only on local problems
131. A positive correlation is present when
(a) Two variables move in opposite directions
(b) Two variables move in the same direction
(c) One variable goes up and one goes down
(d) Several variables never change
in which the researcher uses the

qualitative paradigm for one phase and the
quantitative paradigm for another phase is
known as _.
(a) Action research (b) Basic research
132. Research
125. AU of the following are common characteristics
(a)
random assignment to groups is
never possible and the researcher

(a) Manipulate the independent variable
quantitative research?
(a) The collection of nonnumerical

(b) An attempt to confirm the
What is the key defining characteristic o[

experimental research?
None of the above
following best
Which type of research provides the

strongest evidence about the existence of
cause
Which research paradigm is lcast concerned

about generalizing its findings?
(a) Quantitative research

(b) Qualitative research
(c) Mixed research (d)
122.
system
(c) Quantitative research

(d) Mixed merhod research
(e) Mixed model research
in which the researcher uses both
qualitative and quantitative research within
a stage or across two of the stages in the
research process is known as _.
133. Research
(a) Basic research

(b) Quantitative research
(c) Mixed method research
(d) Mixed model research
134. Research that is done to understand an ev6nt

from the past is known as
(a) Experimental research

(b) Historical research
_?
(c) Replication
(d) Archival research
135.
impact on children by increasing their

motivation to do school work. Thus, in her
model, greater parent involvernent leads to
higher student motivation, which in turn
creates higher student achievement. Student
motivation is what kind of variable in this
research occurs when the researcher

manipulates the independent variable.
(a)
- Causal-comparative research
(c) Ethnography
(d) Correlational research
136. Which
study?
(a) Manipulated variable
(b) Extraneous variable

(c) Confounding variable
(d) Mediating or intervening
of the following includes examples of
quantitative variables?
(a) Age, temperature, income, height

(b) Grade point average, anxiety level, reading
(c)
(d)
(a)
145.
(a) Variable
(c) Constant
147
(b) Method
(d) Control group
interpreting a correlation coeflicient

expressing the relationship between two
variables, it is very important to avoid
141. When
(a) Checking rhe strengrh of relationship

(b) Jumping to the conclusion of causality
(c) Checking the direction of the relationship
(d) Expressing a relationship with a correlation
coefficient
142.
researcher studies achieyement by
in poorly funded elementary

schools. She develops a model that posits
parent involvement as an important variabte.
She believes that parent involvement has an
children
test
Negative
146. A good qualitative problem statement:

(a) Defines the independent and dependent
variables
(b) Conveys a sense of emerging design
(c) Specifies a research hypotheiis to-be resred
(d) Specifies the relationship between variables
that the researcher expects to find
In research, something that does not "yary"
is called
The correlation between intelligence
. The'tool,, function pf theory is to:

(a) Summarize existirig knowledge
(b) Summarize existing hypotheses
(c) Suggest new relationships and make new
predictions
(d)
Suggest new theories
148. The statement of purpose in a research study
should:
(a) Identify the design of the study
(b) Identify rhe inrent or objective of the study
(c) Specify the type of peopte to be used in the
(d)
149.
study
Describe the study
Why is the statement ..What are the effects

of extracurricular activities on cognitive
development of school age children', not a
good statement of a quantitative research
question?
(a) Because there
is no connection berween
extracurricular activities and cognitive
development
income
average
(b) -.et
(d)-1.00
(a) Positive
(b)
(c) Perfect
(d) They are not correlated
(d) Religion
140.
(b) Causal-comparative
(d) Ethnography
scores and grades is:
is
139. Which of the following can best be described

as a categorical variable?
(b) Annual
+.10
(C)+.90
(a) Causal-comparative research

(c) Qualitative research
(d) Mixed research
(a) Age
(c) Grade point
iesearch
144. Which correlation is the strongest?
of the following is the type of

nonexperimental research in which the
categorical?
The strongest evidence.for causality comes
methods?
(a) Experimental
(c) Conelational
Which
primary independent variable of interest
variable
from which of the following
performance
Gender, religion, ethnic group
Both a and b
137. What is the opposite of a variable?

(a) A constant
(b) An extraneous variable
(c) A dependent variable
(d) A data set
138.
143.
73
r
r
(b) Because there are not enough school age

children engaged in extracurricular
(b)
activities to conduct the study

Because the study would be too difficult to
(c)
(c)
do given all the different extracurricular
activities
(d) Because the statement was not
purpose, research question, hypothesis
(d) Research topic, hypothesis,
specific
variables being investigated

150. A qualitative research question:
l,52.lt is essential that you evaluate the quality of

internet resources because information
obtained via the internet ranges from very
poOr tO very g00d.
(a) Asks a question about some process, or

(b)
(c)
(d)
research
problem, research question, research purpose
enough to provide an understanding of the
Research topic, research purpose, research

problem, research question, hypothesis
Research topic, researph problem, research
phenomenon to be explored
Is generally an open-ended question
both a andb are correct
None of the above
(a)Truc
153. One step
(b)Falsc
that is not included in planning a
research study is:
(a) Identifying a researchable problem

(b) A review ofcurrent research
(c) Statement of the research question
(d) Conducting a meta-analysis of the research
151. According to the text, which of the following
orders is the recommended in the flowchart

of the development of a research idea?
(a) Research topic, research problem, research
purpose, research question, hypothesis
ANSWttRS
b
2.
3.
8.
9.
10
15
16.
22.
23.
30
36.
b
b
b
43.
50
51.
57.
58.
29
17.
b
d
b
18.
24
25
31.
32.
37.
38.
39
b
b
44.
45
46.
53.
54.
55.
60
61.
62.
52.
4.
12.
13.
19.
20
26.
33.
40.
47.
34.
35
41.
42.
48.
b
b
b
49
5`.
63.
77.
84
64.
65
66.
67.
68
69
72.
73.
74.
75.
76
79.
80.
81.
82.
83
86.
87.
88
89.
90
92.
93.
94.
95
96.
99.
97.
100.
101.
104.
107.
108.
102.
109.
106.
113.
120.
114
111.
115
116
135
b
d
d
142.
149
123.
130.
137.
144.
151.
b
d
b
122.
121.
128.
127.
134.
141.
148.
129
136.
143.
150.
a
C
139
145
146
152.
153.
118.
125.
132.
85
103.
110.
117.
124.
131.
138.
21.
70
78
28
71.
14.
27.
d
b
59.
7.
b
b
b
98
d
d
b
d
d
d
b
d
105
112.
119.
d
d
126
133.
140
147.
74
HRM
The design of formal
sys{ems
in
an
7.
use of human talent to
accomplish
(a) Formal System (b) Talent Hunt

(c) HRD
(d) HRM
practice whereby union or worker

representatives are given positions on a
company's board of directors is called
called_.
Deportee
Refugee
An employee working for a firm in an

operation who is a citizen of the country
where the operation is located, but where the
headquarters of the firm are in another
country is called_.
(a) Host Country National
(b) Resident
(c) Citizen
(d) Temporary Employee
A citizen of a country working in a second

country, and employed by an organization
headquartered in a third country is
(a) Determination (b) Co-determination

(c) Performance (d) None of the above
9.
(a) HR Manager (b) HR Director

(c) HR In charge (d) HR generalist
10.
person
with indepth
knowledge and
(a) HR specialist (b) Recruiter

(c) Manager
(d) Proprietor
11.
Organizational use of employees to gain or
keep a competitive advantage against

competitors is called
(a) Organizational HRM

(b) Strategic HRM
(c) Competition Gain Strategy
(d) Strategic Organization
Preparing and sending global employees to

their foreign assignments is called
(a) HR Export
(b) Expatriation
(d) Gkrbal
expertise in a limited area of HR is called
(a) Host Country Resident

(b) Citizen
(c) Third country national
(d) Resident
Repatriation
A person with responsibility for performing

a verity of HR activities is called
caIIed_.
(c)
cost
international
(c) Balance sheet approach

(d) Compensation Approach
An employee, working in an operation who is

not a citizen of the country is which the
operation is located but is a citizen of the
country of the headquarters organization is
(b)
(d)
that equalizes
assignments and those in the home country is

called
(a) Balance Approach
(b) Balance Assignment
organizational goals is called
(a) Emigrant
(c) Expatriate
Compensation package
differences between
organization to ensure effective and efficient
sending
Planning, training, and reassignment of

global employees to their home countries is
called
(a) Repartriation (b) Expatriation

(c) Global Training (d) Global Assignment
12.
A unique capability that creates high value

and that differentiates the organizations
from its competition is called_.
(a) Major Competency
(b) Unique Competency

(c) Required Competency
(d) Core Competency
75
13.
The shared values and beliefs of a workforce
21.
indirect labor is called
is called
(a)
(b)
(c)
(d)
14.
(a) I-abor Ratio

(c) Estimate Ratio
Organizational Beliefs
Organizational Culture
Workplace Culture
None of the above
22.
measure of the quantity and quality of

work done, consiricring the cost of the
(a) Productivity
(b) Quantity and Quality Survey
(c) Cost benefit analysis
(d) Resource Analysis
try
15.
is
16
23.
Salary
Average Unit Cost
24.
Process of analyzing and identifying the need
is called
ion
ove
(d) HR research
(a) Human Resource Planni.ng

(b) Need Based Planning
(c) Need Based Analysis
(d) Human Resource Analysis
:alled
17.
Means .used
25
to anticipate and manage
is called
(a) HR Planning (b) HR Resources

(c) Resource Planning (d) HR Strategies.
and
18.
in or
ainst
19.
26.
of studying the environment of the

organization to pinpoint opportunities and
threats is called
Process
(a) Environmental Studies

(b) SWOT Studies
(c) Environmental Scanning
(d) Pinpoint Opportunities
27.
value
tions
Forecasting
Fore sensing
20. The Ratios that calculate the
average
number of units production per employee is
called_.
(a) Productivity ratios

(b) Employee Unit Ratio
(c) Average Ratio
A firm's net operating profit after the cost of

capital is deducted is called
(a) Economic value

(b) Utility Analysis
(c) Profit
(d) Return
of
called_.
(b)
(d)
Calculatiqn showing the value of expenditures

for HR activities is called
(a) HR audit
(b) Return on Investment

(c) Capital Investment
(d) Profit or Loss
Use of information from the past and present

identity expected future conditions is
(a) Futuristic
(c) Predicting
Comparing specific measures of performance

against data on those measures in other "best
practice" organizations is called
(a) Auditing
(b) Gap Analysis
(c) Benchmarking
(d) Return on Investment
the
supply of and demand for human resources
ming
The analysis of data from HR records-to

determine the effectiveness of past and
present HR practices is called
(a) Research methodology
(b) HR audit
(c) Transactional audit
that the organization can meet its objectives
)na
A formal research effort that evaluates the

current state of HR management in an
(a) HR audit
(b) FormalAudit
(c) Research Audit (d) Evaluative Audit
for and availability of human resources so

rrker
Extra payment for employees whose jobs are

being eliminated, thereby motivating them to
remain with the organization for a period of
(a) Extra Payment

(b) Transition stay bonus
(c) Motivating Bonus
(d) Transactional Bonus
is computed by dividing the average

cost of workers by their average levels of
output.
(a) Wages
(b)
(c) Unit Labor Cost (d)
(b) Staffing ratios

(d) Employee Ratio
time is called
resources used is called
cost
.ional
The ratios which can be used to estimate
28.
added
in which economic or other

statistical models are built to identify the
costs and benefits associated with specific
HR activities is called_.
(a) Utility analysis
(b) Economic Analysis
Analysis
(c)
(d)
Statistical Analysis
Cost and Benefit Analysis
76
29. An integrated
system designed for- providing

information used in HR decision making is
36. In the context of Herzberg,s Motivation/

Hygiene Theory, motivators
called
A. Accounts for high levels of

satisfaction and motivation
B. Conducive Working Environment
(a) Integrated HR System

(b) Human Resource Information System
(c) Mrs
(d) HR Decision Making System
An organizational network that
30.
over the internet is called_.
C. Can cause dissatisfaction with work

D. Motivators and Hygiene factors
(e)
called_.
(a) Intranet
(b) Extemal Linked Internet
(c) Extranet
(d) Employees Access System
(a) A and B
(b) B and C
(c) CandO
(d) AandD
The desire within
a person causing
called_.
38.
called_.
(a) Equity
(c) Justice
that
C. SelfMotivation
D. IntrinsicMotivation
E. All of the Above

(a)A and B
(C)C and D
(b)B and c
(d)Only E
Maslow's Hierarchy of needs
A. Physiological needs
B. Safety and security needs
are_.
. C. Belonging and love needs

D.
Esteem needs
E. Self-actualization
F. All of the above
(a)A and B
(c)D and E
35
needs
(b)C and D
(d)only F
Herzberg_'s Motivation / Hygiene Theory

assumes following group of factors
(a) Motivators and Hygiene factors

(b) Motivator and High Salary
(c) High Salary and Conducive Working
Environment
(d) AII of rhe above
The perceived fairness of what the person

does compared with what the person receives
is
A. Internal Motivation
B. Motivation
34.
Hygiene Theory, hygiene factors

Accounts for high levels of job
satisfaction and motivation
B. Can cause dissatisfaction with work
C. Motivators and Hygiene factors
D. Can cause dissatisfaction with work
internet-linked network that allows

employees access to information provided by
person to act is
None of the above
A.
32. Individual performance factors are

(a) Ability, efTort, Supporr
(b) Effort, Support, Ability
(c) Support, Ability, Effort
(d) None of rhe above
33.
(b) B and C
37. In the context of Herzberg,s Motivation/
An
external entities is
'
(a)A and B
(c)A and C
operates
(a) Organizational Web

(b) Custom Made Web
(c) Web Network Connecrion
(d) Intranet
31.
job
(b) Equality
'(d) Fairness
39. Following theory that
states that individuals

their behaviors on their
expectations that one or another alternate
behavior is more tikely to lead to needed or
base decisions about
desired outcomes is called

(a) Expectancy theory
(b) Maslow Theory of Hierarchy of Needs
(c) Herzberg Theory (d) Equity Theory
41
40. Expectations which refer to employees,

beliefs that working harder will lead to
performance are
(a) Effort-performance expectations

(b) Expectancy linkage
(c) Performance-Reward linkage
41. _considers individuals, expectations that

high performance actually will lead to
rewards
(a) Performance-Reward linkage

(b) Effort-perfbrmance expectarions
(c) Expectancy linkage
(d) Psychological Contract
42. _refers
to how valuable the rewards are
to the employee
(a) Output of the organization
(b) Psychological Satisfaction
(c) Value of Rewards
4S
77

(d)
(c) "No fault"
Performance of the Employee
The unwritten expectations employees and

employers have about the nature of their
work relationships is called_.
(a) Psychological contract

(b) Prof'essional Relation
(c)
(d)
45.
called
(a) Firing
Expected Relation
(c)
(b) Turrrover
(d) Franchise
(b) Professional Relation

(c) Job Satisfaction
(d) Workplace Relation
Following are type of turnover

(a) Involuntary tumover
(b) Voluntary tumover
52.
Terminations for poor performance or work

rule violations are called
(a) Voluntary turnover (b) Absenteeism
(c) InvoluntaryTurnover
The degree to which employees believe in
(d) Uncontrollable turnover

53.
If Employee leaves by choice is called

(a) Voluntary turnover
(b) Involuntary turnover
(c) Uncontrollable turnover
(d) Absenteeism
54.
If lower performing or disruptive
Following are different types of absenteeism.
A. Voluntary Absenteeism
B. Unexpected Absenteeism
C.
D.
Ieave,
(a)
(b)
(c)
(d)
Involuntary Absenteeism
Expected Absenteeism
(b) B andC
A and B
(d) A and C
andD
C
(a)
(c)
(e) B andD
55
called_.
B. UnexpectedAbsenteeism
(a) AandB
(c) C and D
(e) B andD
(b) BandC
(d) A and C
C.
D.
Voluntary Absenteeism
Unexpected Absenteeism
(a) A and B
(c) CandD
(e) B andD
(b) B and C
(d) A andC
49. Which of the following approaches are used

as
controlling absenteeism approaches
(a) Disciplinary approach

(b) Pgsitive reinforcement
approach
employees
_.
Dysfunctional turnover
Voluntary tumover
Functionaltumover
Involuntary tumover
key individuals and high performers leave
56.
_.
Turnover which occurs for reasons outside

the impact of the employer is best described
by
Unavoidable absenteeism is called
A.
B.
If
it is best described by
at critical times, it is best described by

(a) Functional turnover
(b) Voluntary turnover
(c) Involuntary turnover
(d) Dysfunctional tumover
Avoidable absenteeism is
C.
D.
48.
Absenteeism
51.
positive emotional state resulting from

evaluating one's job experience is called
(a) Psychological Contract
(b) Organizational Commitment

(c) Organizational behaviour
(d) Organizational work ethics
47.
Paid Time-off
and accept organizational goals and desire to

remain with the organization is called-.
(a) Organizational loyalty
46.
&
50. Process in which employees leave the

organization and have to be replaced is

44.
absenteeism
programs
All of the above
&
Combination
(a) Uncontrollable turnover

(b)-.Controllable tumover
(c) Functional turnover
(d) Dysfunctional turnover
57. Turnover which occurs due to factors that

could be influenced by the employer is
called_.
(a)
(b)
(c)
(d)
Controllable turnover
Uncontrollable tumover
Functional tumover
Voluntary tumover
78
58. A survey that focuses on employees, feelings

and beliefs about their jobs and the
66.
protected-class members available to work in

the appropriate labor markets in given jobs
is best described by_.
organization is called_.
(a) Exit interview
(b) Research
(c) Attitude survey
(d) Feedback
(a) Availability analysis

(b) Recruitment
(c) Hiring
(d) Utilization analysis
59. An interview in which individuals are asked

to identify reasons for leaving the
organization is best described by
_.
(a) Exit interview (b) Interview

(c) Research
(d)Fecdback
67.
61.
called_
68.
The differences among people is

(b) Humane
(a)Similanty
equal treatment
in all
employment-related
by_.
69
(a) Work force diversity

(b) Employer erhics
(c) Indifference employer
(d) Equal employmenr opportunities
63, Individuals within
group identified for
regulations
are included in class,
by_.
members is called
(a) Glass ceiling

(b) Ethics
(c) Work force diversity
(d) Affirmarive actions
73.
by--.
(a) Discrimination
(b) Reverse discrimination
(c) Forward discrimination
(d) Unethical
74.
78.
79.
80.
81.
Concurrent validity
Employee validity
Which among the following are dimensions

of diversity
(a) Age & Race/ethnicity
(b) Gender & Sexual orientation
(c) Disabilities & Marital and family srarus
Practice of allowing relatives to work for the
same employer is called
(a) Nepotism
(c) Glass ceiling
class individuals who may be less qualified is

best described
(a) Construct validity

(c) Predictivevalidity
72.
77.
Validity showing a relationship between an

abstract characteristics and job performance
is called
Process
65. When a person is denied an opportunity

- because of preferences given to protected-
measured when test results of
in which employers identify problem

areas, set goals, and take positive actions to
enhance opportunities for protected-class
64.
is
applicants are compared with subsequent job

performance
(a) Concurrent validity(b) Predictive validity
(c) Construct validity (d) Employee validity
best
(a) Glass ceiling

(b) Ethics
(c) Work force diversity
(d) Protected class
Candidare analysis
is measured when an employer tests

current employees and correlated the scores
with their performance ratings is called . .
(a) Equity
(b) Concurrent validity
(c) Justice
(d) Employee test
70.
protection under equal employment laws and

described
(a) Availability analyses

(b) Utilization analysis
(c) Employment test (d) Employee validity
An employment procedure used as the basis
for making an employment-related decision
(a) Utilization analysis (b)
(c) Employment "tesr"
(d) Employment validity
62. The phenomena that individuals should have

actions is best described
An analysis that identifies the number of
is called
(d) Diversity
(C) Indifference
76.
called
certain views about particular demographics

of people is called
(b) Stereotyping
(d) Attitude Problem
75.
protected-class members employed and the

types of jobs they hold in an organization is
60. An interview in which the interviewer has

(a) Feedback
(c) Hallo Effect
An analysis that identified the number of
(a)Ncpotism
(c)Ethnicity
83.
(b) Quid pro quo

(d) Ethnicity
Discriminatory practices that have prevented

women and other protected-class members
from advancing to executive-level jobs is
called
82.
(b) Quid pro quo

(d) Glass ceiling
84.
79
number o75. Sexual harassment in which employment

work ii
outcomes are linked to the individual
85
e to
18
_
called_.
(a) Autonomy
(c) Iradership
(b)Glass celling
(d)HOStile
(b)
(c) Qualityimprovement
(d) Task signrticance
(a) Feedback
nization
(c)
77.
decision
led
-----.
Job design
Job enlargement
88.
80.
'
Job enlargement
Job description
(b)
(d)
Job rotation
Job enrichment
,Inance
(b) Job rotation

(d) Job enlargement
of shifting a person from job to
Job enrichment
Job description
81. The process
job is called
(a) Job rotation
alidity
lidity
89.
(c)
(b)
(a) Skill variety

(c) Task variety
)r the
83.
(b)
(d)
results in a visible outcome is called

(a) Task identity (b) Job description
(d) Task significance
(c) Job variety
84.
The impact the job has on other people is
called_.
(a) Task significance (b)

(c) Task variety (d)
Job importance
Job significance
Focus group
Focus group
Special purpose team
be accomplished is
(a) Focus group
(c)
(d)
91.
called_.
(b) Matrix
team
Self-directed work team

Shamrock team
One composed
of a core of
members,
who join the team as
resource experts
appropriate, and part-time
temporary
members as needed are is called

(b) Shamrock team
(a) Focus group
(d) Self directed team
(c) Matrix team
Job diversity
Job significance
The extent to which the job includes d

'tvhole" identifiable unit of work that is
carried out form start to finish and that
(b)
Special purpose team

Shamrock team
cluster of tasks, duties, and responsibilities to
completion is called
us
called_.
90. One composed of individuals assigned
Job variety
description (d) Job enlargement

82. The extent to which the work tequires
several different activities for successful
Job
Shamrock team
Groupings of workers who produce entire

products or components is best described by
(a) Circle
(b) Production cells
(c)
(d)
controlling, and evaluating the job is called
(a)
(c)
'een an
(d)
Small group of employees who monitor

productivity and quality and suggest
(c)
(d)
Increasing the depth of a job by adding the

responsibility for planning, organizing,
alidity
team
solutions problems is
(a) Quality circle
performed is called
(a)
(c)
by_.
(a) Special-purpose
(b) Focus group
(c) Quality circle
ceiling
Job analysis
Organizational team formed to address

specific problems, improve work processes,
and enhance product and service is best
described
Succession planning
(d) Job design
Glass
(b) Job design

-.
(d) Job enrichment
79. Broadening the scope of a job by expanding
the number .of different tasks to be
(a)
(c)
5ults Of
Jons l
87.
Phased retirement
duties, and responsibilities

into a productive unit of work is called
esI
alidity
(d) Nepotism
78. Organizing tasks,
validity
entjOb
ceiling
Approach in which employees reduce their
(a)
(b)
(c)
the
le scores
Glass
workloads and pay is called
Validity
ryer tests
The amount of information received about

how well or how poorly one has performed is
called
number
:d and
analysis
(b) Management
(d) Task variety
_ _
86.
and
discretions the work and its scheduling is
t given jobJ granting sexual favors is called
I__
The extent of individual freedom
92.
Scheduling arrangement in which employees

work a set number of hours per day but vary
starting and ending times is called-.
(a) Telecommuting (b) Flextime

(c) Compressedtime (d) Off time
93.
One is which a frrll week's work is accomplished

in fewer than flrve days is called
(tr) Telecommuting
(a) Flextime
(c) Compressedworkweek
(d) Shamrock
80
94.
Process
of
going
to worr via
electronic
computing and telecommunications equipment
98. Obligations to perform certain tasks and

duties is best described
(a) Responsibilities
is called
(a) Virtualcommuting
(b) Fluid commuting
(c) Telephone conunuting
(d) Telecommuting
95
Systematic way to gather and analyze

information about the content, context, and
the human requirements of job is called
(a) Job analysis

(c) Process analysis
96.
(b)
(c)
(d)
(b) Job description

(d) Process description
A distinct, identifiable work

composed
of
Job srandard
Performance standards
Job description
99. Raising the importance and
significance of
jobs is called
(a) Job standard

(b) Performance standards
(c) Responsibilities
(d) Job inflation
100.
activity
motions is best described by
(a) Tasks
(c) Responsibility
by_.
Identification
of the
responsibilities of
(a)
(b)
(c)
(d)
(b)Sub tasks
(d)Duty
tasks,
job is called
duties,
Job description
Performance standards
Job inflation
Job standard
97. A larger work scgment conrposed of several

tasks that are performed by an individual is
called
(a) Tasks
(c) I{osponsibility
(b)Job
(d)Duty
ANSWERS
8.
d
b
2.
3.
9.
10
11.
12.
18.
19.
25.
26.
32.
39.
15
16.
17.
22.
23.
24
d
d
29.
30.
31.
36.
38.
4.
33
b
d
b
b
d
40.
6.
7.
13.
14.
20
21.
27.
28
34.
35.
41.
42
49.
43.
37.
44.
45
46.
47.
50.
48
51.
52.
53.
57
54.
55
58.
59.
60
61.
64.
62.
65
69
72.
b
d
68.
71.
73
74.
b
b
d
d
d
d
b
75
78.
77.
79.
80.
76.
81.
83
84.
90:
97.
91.
98.
67.
66
82.
85
86.
87.
88.
b
d
89.
92.
93.
94.
95
96.
99.
100.
56.
63.
70.
and
81
and
0 0f
Busr
and
ESs Cowr M uN rcATroN
Awo Rrponr WnrnNG

Organizations cannot function without
and effective
open
9.
(a) Communication (b) Time

(c) Office
(d) Fumiture
2.
Communication
(a) Message
(c) Email
to the people outside the
organization is known as _.
(a) Intemal communication

(b) External communication
3.
Communication
(a)
(c)
to the people inside the
is a major factor in
5. Poor
overall
12.
(a) Money
(c) Botha&b
6.
can cost
an
13.
(b) Time
(b) Receiver-decoder
Medium
Feedback (d) All of above
As _
one uses symbols that expresses his
message and create the desired response.
(a) Sender
(b) Sender-encoder
14.
is usually the dictionary definition
The _
is influenced by context and by his
or her mental filter.
(b) Anonyms
(d) Connotation
is an implication of a word or a
_
suggestion separate from the usual
Denotation
Definition
(b) Connotation
(d) Quotarion
When one selects some facts and omit others,

one ls
.
(tr) Abstracting
(a)Hiding facts
(C)BHeflng
(d) Writing his own views
L5.
(c) Receiver-decoder (d) Receiver
Receiver-decoder
Sender receiver
(a)
(c)
(a)
(c)
(a) Sender
(c) Receiver
Same
definition.
Following are the components of

communication along with context, sender-
8.
(b)
Gender difference
(a) Quotation
(c) Denotation
encoder, message.
7.
Different
of a word
(b) Sender
(d) Space
communication
(b)Silcncc
(d)SMS
are signs for things that exist.

(a) Synonyms (b) Antonyms
(c) Abbreviations (d) Symbols
communication costs.
(a) Receiver
(c) Time
written
symbols used.
(a) External communication

(b) Internal communication
4.
or a
10. Miscommunication occurs when the sender

and receiver have
meanings for the
organization is known as _.
Feedback can be an oral

message, an action or simply
16.
(a)
(c)
are conclusions drawn from evidence.

Research
Inferences
(b) Reference
(d) Opinion
A receiver's
toward a message can

determine whether it is accepted, rejected,
distorted or avoided.
(a) Opinion
(c) Values
(b)Attitudc
(d)A&b
82
17.
in the sender is important in
Credibility
a
response.
(a) Negative
(b) Favorable
30.
getting
18.
19.
general.
(a) Concretely
(c) Concisely
(b)NOnverbal
31.
The format, neatness, and language of a

written message sends a
message to the
reader.
(a) Verbal
(c) Negative
each
21.
(b)
-(c) Conectly
Message
33.
can hinder ones verbal message.
(a) Culture and message

(b) Eye contact and facial expression
(c) Conventions and eye contact
(d) Time and space
22.
Concepts of
27.
37.
(b)False
28, A
C qualities
39.
(b) W qualities
message is complete without being
29.
(b) False
True
The _
news message is one of the most
(b) Concrete
(d) Correct
means preparing every message with

the message receivers in mind.
(a) Concise
(b)ConsidcratiOn
(c) Concrete
(d)Corrcct
(b)
Bad
The most important positions in any business

message are the
paragraphs.
(a) Writing
(b) Opening
(c) Closing
(d) Opening and closing
wordy.
(a) Concise
(c) Clear
the
As an author, when one thinks that the

reader will probability reach unfavorably
to the request or information, one should
not' spring he main idea in the first
difficult to write.
(a) Good
to say in
the fewest possible words without sacrificing

the other
(a)
38.
40
Often the
determines whether the
reader continues reading, puts the message
aside for later study or discard.
(a) Opening
(b) Closing
Conciseness
(a)
what, when, where, and why.
46. 5
Concreteness
paragraph.
(b)5 Ws
Conciseness is saying what one has
(b)
(d)
reader will probability reach unfavorably to

the request or information, one can use the
approach.
(a) Direct
(b)Indirect
5 Ws are who,
(a)Trlle
Clearness
36. As an author, when one thinks that
25. One way to complete the rrlessage is to
26.
Correctness
the
reader will consider the message favorable or
neutral information, one can use the
approach.
(a) Direct
(b)Indircct
(b)Falsc
seven C's can appty to both oral and

written communication.
(a)Truc
(b)Falsc
(a)7 Cs
is proper grammar,
U. All
answer
(b) Courtesy
(d) Concisely
E-mail messages are short and often

(a) Inforlnal
(b)Formal
(a)
(c)
The 7 Cs are correctness, conciseness, clarity,

completeness, concreteness, consideration
and courtesy.
(a) True
43.
punctuation, and spelling.
expression
42.
(
(
23.
(b) Concretely
(d) Correctly
34. At the core of
are culture specific.
(a) Eye contact and facial

(b) 7Cs and 5Ws
(c) Time and space
(d)CIcarly
involves being aware not only of the

perspective of others, but also their feelings.
(d) Clarity
culture.
41.
(b)COrrectly
Getting the meaning from ones head into the

head of the reader/listener accurately is the
(a) Clarity
(c) Concisely
32.
(a) Culture
(c) Conventions
purpose of
(b) Nonverbal
of eye contact are specilic to
20
means being specific,
definite and vivid rather than vague and
message often contradicts the verbal.
(a) Negative
(c) Positive
Communicating
83
41.
Often the opening determines whether the
47. Most business letters have seven standard

parts which are heading, insidc adclress,
salutation, body, comfifimentary close,
reader
(a)
Continues reading
the message aside fbr later study
!b.l
llo
(c) Discard
42.
43.
44.
45
a(n)
lyoia
(a)
signature area, reference section.
(a)
48.
-..--_*
opening sentence.
Irritating
(b) pleasant
The
sentence is more likely to
motivate the reader to act as requested.
(a) Opening
(b) Closing
(a)
46.
49.
True
&)
(b) Country
(a)
(c)
Province
_.
(b) Country
Oversees
Telegrams, cablegrams
save_-.
(a) Money
--.
Cablegrams and radiograms can send a
message within a
50
person.
(b)Falsc
Telegrams can send a message within a
(a) Province
(c) Continent
The formal word for the word expect is
_.
(a) Anticipate
(b) Ascertain
(c) Contlagration (d) Deem
One agrees /o a plan and agrees with
Tnre
and
radiograms
(b) Time
(c) a&b
False
The medium used most often for written

to persons outside the firm is the
messages

(a) Business
(c) Pager
letter
(b)Email
(d)SMS
ANSWERS
8.
2.
3.
9.
10
4.
16
17.
22.
23.
24.
25.
30.
31.
32.
29.
36.
43.
50
b
b
b
37.
44.
38
45
18
39
46
5.
12.
15
6.
7.
13.
14.
b
b
19.
20
26.
27.
33.
40.
47.
28
35
34.
41.
42.
48.
49.
84
MiCRO EcoNOMICS
function expresses the relationship
The
between the total quantity demanded and the
price of the product.
1.
(a)
(c)
2.
.
3.
SLrpply
Demand
(b) Utility
(d) Market
Basket
A movement along u
function always
price
of the product
involves a change in the
in question and a change
- in the total quantity
demanded of that product.
(a)
(c)
Supply
Demand
8.
9.
The changes in the price and the quantity

the
supplied result in a movement
supply function.
(b) Below (a)Along
(c)Abovc
When the slope is positive, producers
increase the quantity supplied from Q1 to Q2
P1 to P2.
only if the price they receive
(b) Decreases
(a) Increases
10
(b)Utility
factor(s) changes.
(a) Price of a factor of product clranges
(b) The state oftechnology changes
(d)Markct Baskct
The law of
describes the inverse
relationship b,etwcen the quantity demanded

and the price of the product.
(b)
(d)
(a) Supply
(c) Market
4.
Complements
Demand
The_____function can shift if the price of
another
good
increases
and
considcr one good a substitt:Lt
(a) Supply
(c) Market
5
(a)
(c)
Demanded
Complements
(a)
7.
More
11.
12.
f theother,
(b)
13.
Demand
function (d) Excess supply-.
If
demand means need and supply means

production capacity, a shortage or a surplus
is inevitable because plays no role in
(b) Market
supply
(C)P Ce
14.
shift in the demand function

increases the equilibrium price and
equilibrium quantity when the supply
function'has a Positive sloPe.

(b)Rightward
(a)LftWard
(C)Up
The
(a) Complement (b)

(c) Supply
Supply
(a)Markct demand
--
function expresses the relationship

between the total quantity supplicd and the
price-received by suppliers.
The difference between the quantity supplied

and the quantity demanded is known as
(a) Equilibrium supply (b) Demand function
the analysis.
Supplied
(b) Less
exists when the quantity demanded

equals the quantitY suPPlied.
(a)- Market imbalance (b) Market equilibrium
(c)
(d)Dcmand
The demand f'unctions shifts to thc right and

than
the consumer prefer the product
before
(.-) Botha&b
(b)COmplcments
When the price of a product changes and the

demand function of a related product shifts
in the opposite direction, the two goods are
called_.
6.
consumer
The supply function shifts when following
15
(d)Down
Fixed and slowly adjusting prices do not

provide a complete exPlanation of
and
(a) Shortage, Surpluses
(b) Demand, Supply
85
(c) Equilibrium and Non Equilibrium

16. The price elasticity of _
measure the
26. If the value of price elasticity is equat to -1,

the demand has unitary elasticity and a price
change does not change.
(a) Demand
(b) Supply
(c) Total revenue
responsiveness of the quantity demanded to a
price change.
(a) Supply
(c) Shortage
17.
(b)
(d)
Demand
Excess
n. If the value of price
The price elasticity of
compares the
_
average per:centage change in quantity to the
average percentage change.in price.
Supply
(a)
(c)
(b) Demand
(d) Excess'
Shortage
revenue changes in the direction

opposite the price change, the demand is
(a) Price elastic
(b) Unitary elastic
(c)
the
19.
ucers
tO Q2
'O P2
DWing
Price inelastic
20.
brium
pplied
29.
elastic
Price
Price inelastic
(b) Unitary
elastic
(b) Unitary
30.
urplus
:ole in
v
rnction
and
supply
not
Price inelastic
(b) Unitary
32.
elastic
34.
Opposite
(b) paraltel
25. If the value of price elasticity is equal to

'
the demand has
(a) Price elastic

(c) Price inelastic
(b) Unitary
elastic
-1,
The
is negative and measure the
tradeoff between two goods that keeps the
utility-of the consurner constant.
(a) Marginal rate of subsriturion
(b) Price elasticiry (c) Unirary elasticity
Utility is heasured
called_.
(c) Indifference
35
Perpendicular
(b) Demand curve
curve
The
is the slope of the indifference
curve at any point on the indifference map.
(a)Bills
price change.
(a)
(c)
curve
(a) Marginal
rate of substitution
(b) Price elasticiry
(c) Unitary elasticiry
-1,
24. If the value of price elasticity is less than -1,

the demand is price elastic and the total
revenue changes in the direction ..the
represents a set of market baskets

where the well being of the consumer is the
(c) Indifference
the demand is
(c)
of different
33.
_.--.
(a) Price elasric
Supply
specifies the quantities
same.
(a) Supply
22. The _
is the average percentage change
in the quantity demanded divided by t[e
23. If the value of price elasticity is less than
(b)
(a)- Market basket (b) Supply funcrion

(c) Demand function
31.
21. The
elasticity is the ratio of two
magnitudes that resemble but are not exactly
equal to percentage changes.
(a) Arc price
(b) Price elasticity
(c) Unitary
change.
goods.
elastic
(c) Unitary
means
elasric
(b)Samc
Opposire
(a) Price
(c) Demand
is
Price
Price inelasric
(b) Unitary
The price elasticity of smpply measures the

responsiveness of the quantity supplied to a
elastic
If the total revenue change in the sanne

direction that the price changes, the demand
(a)
(c)
Price elastic
Price inelasric
and 0, the demand is price inelastic and total

revenue changes in the
direction as the
price clange.
(a)
average percentage change in price.

(a) Arc price
(b) price elasticity
tion
do
the total revenue does not change when the

prices changes, the demand has_.
-.
anded
(a)
(c)
If
(a)
(c)
-1
28. If the value of price elasticity is between -l
18. If the total

mtity
elasticity is between
and 0, the demand is
in suttect e units
(b)Utils
The slope of an indifference curve must be

(a)Negat e
(b)Positivc
(C)Ilat
36. Indifference
curves rnust
(b)Totich
(a)Not T6uch
86
37.
Consumers can afford only a subject of all

possible market baskets because each once
46. The _
measurcs the average percentage

change in the quantity of one good relative to
the average percentage change in the price of
faces a
(a) BLrdget constraints

(b) Indi l'f'erence curve
(c) Marginal rare ol'substitution
38.
The ----.-.^- shows which market baskets the

consunler can afford.
(a) Budget constraints

(b) Indittbrence curve
(c) Marginal rate of substitution
39.
.
40.
When nraximizing utility by purchasing both

goods, the consunrcr makcs the marginal rate
of substitution equal to the slopc of the

(b) Indiff'erence curve
(c) Marginal rare ol'substitution
42.
(a) Indifference
(c) Budget
is the lowest price at which the
(a) Indifference
(c) Budget
49.
U.
51.
Substitutes
Gross substitutes
Part of market baskets
51
6(
The
demand nleasures the avcrage
52.
62,
The _
effect measure the change in the
quantity demanded of X due to a change in
the relative price of

constant.
(a) Substitution effect
53.
61
X with utility
heldr
(b) EngelC'urve
63.
Change in quantity demandcd = change in

quantity demanded due to substitution cffect,
+ change in quantity demandcd duc to _'
effect.
(a) Income
(b) Buclget
(c) .Supply
(d) Denrand
A consumer demands
units at a lowerj
price if the good is a normal good.
:
j
54.
(a) More
55.
Demand function
(a) Negative
(c) Flat
(b) Irss
of the
consumer has
slope.
(b)
Positive
64.
(a)
(b)
(c)
good
percentage change in the quantity denranded

relative to the ayerage percentage change in
income.
(a) Indifference curve of
(b) Budget
(c) Arc income elasticity of
of Y
changes and the

quantity demanded of X changcs in the same
direction, with the price of X held constant,
X and Y are called
change in income, we call the good as

good.
(a) Normal
(b) Inl'crior
(c) Zero
45. When the price
When the quantity demAnded of
50. When the quantity demanded o[ a good

change in the opposite direction as the
Demand price
A reservation price is the lowest price at which

the consumer's quantity demanded is __.
(a) Maximum
(b) Mininrum
(b) Engel curve
change in the same direction as the changc in

income, we call the good as _
good.
(a) Normal
(b) Inl'erior
quantity demanded is zero.
(a) Reservation pnce (b)

(c) Supply price
effect.
(b) Income
curve shows the relationship between

the quantity demanded of X and the income
of the consumer with prices held constant.
_.
is
48. A _

(b) Inditference curve
(c) Marginalrate of substitution
(d) Market demand l'uncriorr
-consumer's
Cross arc clasticity of demand
47. The change in quantity denranded of a

commodity due to the change in money
The _
is a horizontal summation of all
individual consurner demand functions.
43: A
(b)
income is called the
The goal of the consumer is to maximize

utility while satisfying the
(b) Indiiference curve
(c) Marginal rate o1'substitution
41. A popular measurc ol brarrd loyalty

(a) Budget constraint
(b) Indifference curve
(c) Marker baskets
(d) Relative frequency ofpurchase
another.
(a) Arc elasticity
tage
,e
to
:e
of
good, the consumer

56. lf a good is a(n)
., may dcmand more or fewer units when the
price decrcases.
(a) Inferior
57.
fa
(b) Normal
58
is the
(c)
68
(b)
Engol Curve
difference between the

69.
Supply surplus
The marginal willingness to pay for the first

unit is the amount that keeps the ionsumer
on the same
(a)
(c)
61.
describes the evcntunl

product of thc
variable factors as the variablc l'actor
incrcases with other factors hcld constiurt.
(a) Diminishing retum (b) Production
decline
maximum amount the purchases would pay

to consumer a given quantity and the actual
amount paid.
(a) Consumer surplus (b) Demand surplus
(c)
_.
Indiff'erence curve
Demand curve
(b) Supply curve
A marginal willingness to pay function shows

the maximum amount the consumer is
willing to pay for _
units of good.
(a) Additional
(b) trsser
70
71.
function is thc same as the

_
marginal willingness to pay function when
63.
Demand
A_
represents the decrease in consumer
surplus that is not transferred to some other
group.
(a)
(c)
Consume surplus
Dead weight loss
72.
Expected income
Dead weight loss
(b) Slutsky equation
(b) Budger
(d) Expected utility
the utilities of the

outcomes.
(a)
(c)
Expected
total cost of producing a gii'cn

_
quantity occurs when the ratio of the
The
(b)
Highest
The long run total cost function shows tlrc

lowest total cost of producing each quantity
73. The short run total
is a probability weighted average of

consumer over all
65.
Buclgct
when all factors of production are

(a) Constant
(b) Variablc
cost function shows the

total cost of producing each quantity
when one factor is fixed.
(a) Highest
(b) Lowest
income over all outcomcs.
(a)
(c)
(d)
shows the differcnt combinations ol'

factors of production that can producc a
given quantity of output.
(a) Budget
(b) Isoquant
(c) Marginal rate of technical substiruritx
(d) Isocost
The _
shows how a firm can substitute
capital and labor for one another so that the
output is constant.
(a) Budget
(b) Isoquant
(c) Marginal rate of technical subsrirurion
(d) Utility
A firm
the total cost of producing a
given quantity by selecting a combination of
(a) Lowest
is a probability weighted average of
64.
Demand
marginal product to the last dollar spcnt on

the factor is equal for all lactors of
production.
there are no inconre effects.
(b)
in the marginal
factors where the slope of the isoquant cqual

the slope of the isocost line.
(a) Minimizes
(b) Maxrrniz-cs
62. The
(a) Suppty
(c) Indil'ference
(b) Utility
(d) SLrpply
67. The law of
simply says that the slope of the

_
demand function equal the sum of the
contributions bf the substitutions and income
rod
60
(a) Production
(c) Budget
The
effects.
(a) Slutsky equation
(c) Indiflerence curve
rin
certain state of technology.
The slope of the consumer demand function

of inferior good can be
(a) Positive
(b) Negative
(c) Positive or negative
ney
66. The
function dcscribes thc inaxinlunl
quantity that can be produced rvith cach
combination of factors of production given a
income (b) Expcuert utility

(d) Dead rvcight loss
74.
costs are payments tbr factors of

production, such as wages and rents alrd
purchases of goods and services.
(a) Demanded
(c) Opportunity
(b) Explicit
Budget
88
75.
costs represent the forgone earnings
80.
or income when a firm employs a resource
for a specific use.

(a) Demanded
(c)
In the
76
run
production
is fixed.
-__
at
(a) Short
(c) Fixed
77.
(b) t ong
(d) Variable
82.
83
The price elasticity of demand for
cost is a past expenditure or a

contracted expenditure that a firm cannot
A
(a) Sunk
(c) Explicit
(b) Opportunity
(d) Variable
A --product
exists when a single firm can

quantity at lowest total cost
(a) Natural monopoly (b) Natural competirion
A competitive firm acts as if the market price
is
of all the number of units sold by
the firm.
(a) Dependent
(b) Independent
81.
least one factor of
avoid.
78.
average cost of producing each

quantity.
(a) Lowest
(b) Highest
(b) Explicit
Opportunity
The long run average cost function shows the
a given
competitive firm
(a)
The short run total cost function shows the

84.
when at least one factor is

(a) Fixed
(b) Variable
(c) Irss
(d) More
Finitely
is
elastic.
(b) Infinitety
A competitive firm determines the quantity

produced where price equals short run_.
(a) Marginal cost (b) Variable cost
(c) Utility function (d) Isocost tunction
79. Minimunr total cost occurs when marginal

costs are
(a) Equal
at all plants.
(b) Different
ANSl ERS
1.
8.
2.
9.
15
16.
22.
23.
29.
30
36.
37.
3.
10.
17.
24.
a
4.
11
d
b
6.
7.
12.
13.
14.
18.
19.
20
21.
25
26
27.
28
34.
b
d
35.
41.
42.
31.
32.
33.
38
39.
40
44
45
46.
47.
48.
49.
51.
52.
53.
54.
55
56.
58.
57
59.
60.
61.
62.
64.
63.
65
66
67.
68.
69
70.
73.
74.
75.
76.
77.
80
82.
83.
84.
78.
72.
79
b
b
50.
43.
89
MACRO EcoNOMiCS
2.
The property r
ources are_
(a)Land
(C)Capital
.(b)Raw NIlate al
(d)All of the above
9.
The human resources are
(a)Land
(b)Labor and Ability
(c)Entrepreneu al Activity
10. There
(d)BOth b&C
are
fundarnental questions
which must be answered by every economic
10ney is a resource and is classirled as
system
(a)Land
(C)Capital
4.
(a) Two
(c) Four
(b)Raw MatcHJ
(d)BOth b&C
OnIy _
is necessary for full production.
(a) Allocation of Resources
(b) Efficiency
(c) Allocative Efficiency
(a)
(c)
Increasing
Stable
(b)
(d)
resources and the product markets.
(a)
(c)
Demand
Breakeven
(b)Supply
An economy is said to be efficient when it has
achieved
(a)
(b)
(c)
(d)
Full
Full
Full
Full
and _
Employment, Full Consumption
Employment, Full Production
Consumption, Full Production
Capital, Full Production
For two complementary goods, an increase in

the price of one will cause the _
in the
demand of other.
(a)
Increase
(b)
Decrease
for productive economic activity
(a)
Freedom allowed by the market system, the

incentives for productive economic activity
Efficiency use
resources, Freedom
allowed by the market system
of
12. A non
economic virtue is the personal
allowed by the market system
Decreasing
Continuous
6. In the context of circular flow model, the

household frnctions on the
side of the
of the system are
(a) Efficiency use of resources. the incentives
(c)
The marginal cost curve for a product rises

because of _
satisfaction from the
consumption.
(b)Threc
(d)Five
11. The economics virtues
(d) 'Resources
8.
For two substitute goods an increase in the

price of one will
(a) Decrease the demand for other
(b) Do nothing
(c) Remain stable
(d) Increase the demand for the other
(a) Use of resources (b)

(c) Confidence
(d)
13.
Use of capital
Freedom
Specialization and trade among

units are based on the principle of
(a)
(b)
(c)
(d)
econorllucs
Comparative advantage
Competitive advantage
Production advantage
Efficiency advantage
14. If
the exchange rate of Rupees (Rs.) increases

against Dollar ($), it is known as _
in the
value of Dollar ($)
(a) Appreciation
(b) Depreciation
15. If the exchange rate of Rupees
(Rs.) increases
in the
value of Rupees (Rs.)
(a) Appreciation (b) Depreciation
90
16.
the exchange rate of

T
decreases
against Dollar ($),
in tlre value of R.upees (Rs.)
(a)
18
26.
Unemployment always has a _
(a) Economic cost (b) Econom[ profit

(c) Economic stability
(d) Economic advantage
27.
Increase in the general level of prices in the
economy is called as
in the value of Dollar (Rs.)
(a) Inflation
Appreciation (b) Depreciation
For Double counting problenr, GDp includes
(a)
(c)
19.
as
Appreciation (b) Depreciation

I-f tlre exchange rate 'of Rupees (Rs.)
decreases against Dollar ($), it is known as
(a)
17.
Rupees (Rs.)
it is known
28.
Decrease
Spmi
Finished
GDP stands for
(b) Raw Material

(d) tnventory.
30.
means alternatfurg periods of
31.
prosperity and depression.
(a)
(c)
22.
Cycle
Business
Product Life Cycle
32.
Recession, trough; peak, recovery

Peak, recession, trough, r""ou".y
(c-) Trough, peak, rcession, r".ou"iy
(d) Recovery, trough, recession, peak
33.
demand in the economy.

(a) Frictional unemployment
(b) Structural unemployment
(c) Cyclical unemployment
24.
is the result of changes in technology.
full-employment unemployment rate is also
called as
(a) Natural
(b) Natural
(c) Natural
(d) Natural
rate of unemployment
rate of employment
rate of cyclical unemployment
rate o[ structural ,ln"rlpioy,r,"nt
(b)
Fu-ndamental objective
Decrease
of any monetary
Money can best be defined

(a) Store of value
(b) Unit of accounr
as
(c) Medium of exchange

34.

25
per unit production costs.
Increase
Keep stable
(a) Employment with inflation

(b) Employmenr without inf'lation
(c) Employment with deflation
(d) Employment without deflation
(a)
(b)
is the result of insufficient aggregate
Cost push is mosfly the result of factors that
policy is
-.-
pattern.
23.
Demand Push Inflation

Demand Push Deflation
Cost push is also known as
(a)
(c)
(b) Busihess Loop

(d) product Life Loop
Typical busincss cycle has the following
aggregate
(a) Supply side inflation

(b) Supply side deflarion
(c) Demand side inflation
(d) Demand side deflation
(a) Great National Production

(b) Gross National Product
(c) Gross National price
(d) Great National Price
21.
exccss
demand in the cconomy

(a) Demand Pull Inflation
(b) Demand Pull Deflarion
(c)
(d)
the
(b) deflation
is the result of
29.
GNP stands for
in the general level of prices in
(a) Inflation
(a) Great Do-"rti"F.i*

(b) Gross Dominant price
(c) Gross Domestic product
(d) Gross Domesric price
20
(b) deflation
economy is called as _
goods and services
Final
=-
of other real variables.
(a) Steady state value, utility

(b) Utility, steady state value
35
revenue collected because of issue
by government is known
as
of money
(a) Causeof inflation (b) Hyp".influti,,,

(c) Seingniorage
ANSWERS
16.
17.
23.
24.
30
29.
10
4.
12.
19.
25
2`.
32.
33.
18.
7.
13.
14.
20.
27.
34.
15.
22.
d
d
2.
d
b
1.
28.
35.
92
SaUPLE Tesrs
SnUPLE
A quantitative variable that can assume a
Trsr 7.

(a) Ordinal variable (b) Discrete variable
(c)
2.
Random
(a) Psychology
(c) Hunger
3.
to
called_.
is
(b) Demands
(d) Wants
(c)
sampling method that produces values
10.
Off'er
Customer perception
The overall process of building
and
by delivering superior customer valuc and

(b) Customer perception

(c) Customer satisfaction
(d) Competition
11.
The customer's evaluation of the difference

between all the benefits and all the costs of a
competing offers is called
(a) Customerevaluation
(b) Customer-perceived value
)
(
maintaining profitable customer relationships
(a) Sample
(b) Random sampling meth<ld
(c) Biased sampling method
(d) Un-biased sampling method
Wants
(b) Selling conccpr

(d) Service concepr
company's marketing
interests is called
(b) Societal marketing concepr
population being sarnpled is called
(a) Hunger
(c) Demands
is
long run interest, and society's long run
the
that are backed by buying
Marketing concept
The idea that a
(d)
which systematically differ from
wants
goals
decisions should consider consumers' wants,

the company's requirements, consumers,
(b) Exchange
(c) Market myopia
(d) Product segmentation
power is called
The marketing management philosophy that
called_.
(a) Research
9
6. Human
or want is
satisfactions better than competitors do
The mistake of paying more attention to the

specific products a company offers than to
the benefits and experiences produced by
these products is called
(a) Market offering
need
depends on knowing the needs and wants of

target market and delving the desired

(c) Nominal variable
(d) Random variable
5.
holds that achieving organizational
A quantitative variable that can assume an

uncountable number of values is
called_.
4:
satisfy
(a) Market off'ering

(b) Market myopia
(c) Exchange
The form human needs take as shaped by
called--.
Some combination of products, services,

information, or experiences offered to a
market
vanable (d) Nominal variable
culture and individual personality
93
12.
(c) Competition
(d) Customer generated value
The act of obtaining a desired object from
someone by offering something in return is
_
Exchange
Concept
20
customers is called
(b) Joint venture
called
(a)
(c)
13.
D a
lS
(b) Market
(d) Production

that offer the most quality, performance, and
features and that the organization should
therefore devote its energy to making
continuous product improvement is called
14.

of the firm's products unless it undertakes a
large scale selling and promotion effort is
called_.
(b) Product concept

(d) Service concept
(a) Selling concept

(c) Market concept
that
DalS
S Of
(c)
(a) Selling concept (b) Product concept

(c) Market concept (d) Service concept
lces,
21.
is
22.
Customer
Customer
Customer
Customer
Fon QursrroNs
(a)68000
(c)8000
17. The value of vehicle
be
(a)4400
(c)5400
Question 23 is
(a)91/56
(c)91/7
26.
vehicle
(d}
27.
after three years will
(b)44000
(d)54000
salvage value after 8 years will be

(a) 1000
(b)2000
Marketing messages, ads, and other brand

exchanges created by consumers themselvesboth invited and uninvitetl is called
(a) Branding
(d) Consumer value
(b)56/91
(d)8
176. The sloPe
(b)12
(d)14
of choosing target
markets and building profitable
relationships with them is called_.
The art and science
Marketing management
Market offering
Production concept
Selling concept

that are available and highly affordable and
that the organization should therefore focus
on improving produition and distribution
efficiency is called_.
(a) Selling concept (b) Production concept

(c) Market concept (d) Service concept
28
x/4-x/5=6,the value of x is
(a)100
(c) 120
29. Planning, training,
global employees to
(b)110
(d)130
19.
(d)4000
in
_.
Consider the equation l6Y

of the given equation is
(a)
(b)
(c)
(d)
18. The
(c)3000
(b)-8
(d)-7
(c) 13
of the
the
_..
24. The value of the intercept in the equation
For depreciation of a vehicle, a firm uses

y = 68000 - 8000x equation, where y is current value'
of the vehicle and x is number of years.
is-.
Exchange
xl6 - 5 =xl9 + 1, the value of x is

(a)108
(b)109
(C) 110
(d)120
(a)11
18
16. What is the initial value
The set of aII actual and potential buyers of a

product or service is called.
(a)8
(c)7
matching
competition
evaluation
L6-
Customer sharing
slope in the given equation is
25
satisfaction
(d)
23. Consider the equation 56x + 7y = 91,
called_.
(a)
(b)
(c)
(d)
)is
Alliance
(a) Market
(b) Market management
(c) Production
(d)
15. The extent to which a product's perceived

red
Working closely with partners in other

company departments and outside the
company to jointly bring greater valuc to
reassignment of
home countries is
called
(a)RepartHation
(c)Global Training
(b) Expatrration
(d) GlobalAssignment
94
l'on QursrroNs J0
A firm which has-33
fixed cost of Rs. 650
36.
communication costs.
and
(a) Receiver
(c) Time
marginal cost of Rs. 9, which is the expense

incurred
fbr each additional unil of output x. th^t: total
cost C,
can be expressed by the equatiirn C 9x +
560.
=
30
49.
(a)1620
(c) Botha&b
(b)1720
(d)1920
what is the cOst,
encoder, message_.
(a)NIledium
(b) Recciver-decoder
(b)795
(d)995
(c)Feedback
: r mettrm FOd
e
(a)460
(c)660
33. What fixccl
(b)560
(d)760
equation?
560
760
34. Compensation package that
equalizes cost
and those in the home country is

(a) Balance Approach
(b) Balance Assignment
(c) Balance sheet approach
(d) Compensation Approach
called_.
35. A measure of the quantity and quality of

work done, considering ihe .ori of the
As =one uses symbols that cxpresses

his message and creatc tlre dcsircd
response---.
(a) Sender
G)
(c) ll.eceiver-decoder (d)
42.
Sencler-cncoder
Recciver
52.
The-- is influenced by context ancl by his

or her mental filter
-_ (b)
(d)
Receiver-decoder
Sencler receirer-
43. Fecdback can be an ora1 0r a writton
53.
message,an actiOn Or simply_______
(a)NIessagc
(c)Email
(b)silcllce
(d)SMS
54.
44. IiscOllununicatiOn Occurs when the sender

and recelver have
nleanings fOr the
synll 01s
used.
55.
(a)Differcnt
(b)Sanlc
(C)Gendcr dif rencc
keep
(b)
colnpetitive
advantage
against
56.
colnpetitOrs is called_
(a)Organiza10nal HRM
average cost of
workers by their ayerage lcvek ofoutput
is
(c) Unit Labor
above
45. organizatiOnal use of elnp10yces tO gain Or

Survey
36. Computed by dividing the
called_--.
(a) Wages
(d) ettof
(a) Sender
(c) Receiver
differences between irnternational assignments
(a) Productivity
(b) Quantity and euality
(c) Cost benefit analysis
(d) Resource Analysis
41.
cost, can be assumed from the
(a)460
(c)660
(b)Tilnc
are the components of

communication along with contcxt, sender_
if the rlrnl produces 15
(a)695
(c)895
an
40. Following
units?
37;
(b)Sender
(d)Space
what is the cOst, if thc rlrm produce 150
(C) 1820
"
48.
overall
Poor communication can cost

organization
and
(a) Money --
39.
unl ?
31
is a major factor in
Process- of analyzing and
Unit Cost
identifying
the need
-..r]or."".
human
,o
that the organization can meet its ob.iectives
for and availability of

is called
(a) Human Resource planning

(b) Need Based planning
(c) Need Based Analysii
(d) Human Resource Analysis
(C)CompetitiOn Gain Stratcgy

(d)Strategi organizatiOn
46. A unique capability that croates high vallle
Salary
Cost (d) Average
(b)Strategic HRNI
and that differentiates the OrganizatiOns

from its cOmpetitiOn is called_
(a)Maor competency
(b)Uniquc conlpetcncy
'
[ : 1:Fncy
.
47. A practice whereby uniOn Or wOrker l
113 8:
representatives are given positiOns On a l
company's
caned_.
board
:; F l] :l:
Of
{:
57.
directors
:
[i
is I
:ni :[
11
58.
in
95
A person rvith responsibility for performing

a verity of IIR rtctivities is called
(a) HR Manager
(b)HR Director
(c) HR In charge (d) HR generalist
49. A percon with in-depth knowledge and
expertise in a linrited area of IIR is called
(a) HR specialist
(b) Recruiter
(d) Proprietor
(c) Manager
50. If the total reYenuc change in the
59.
increase the quantity supplied fronr Q1 to Q1

only if the price they reccivc
P1 to P2.
(a)
(c)
60.
(a)
(c)
Price elastic
Price inelastic
(b)
same
(c)
61.
Unitary clastic
(b) Below
Organizational Beliefs
Organizational Culture
Workplace Culture
None ol the above
are signs for things that exist.

(a) Synonyms (b) Antonynrs
(c) Abbreviations (d) Syrnbols
62.
The difference between the quantity supplied

and the quantity demanded is known as _.
(a) Equilibrium supply (b) Demand function
63.
(c)
64.
lrftward
Up
(b) Rightward
(d) Down
Fixed and slowly adjusting prices do not provide

and
a complete explanation of
(a) Shortage, Surpluses
(b) Demand, Supply
(c) Equilibrium and Non Equilibrium
1.
I{iding facts
Abstracting
Briefing
Writing his own views
elasticity is thc ratio of two

_
equal to perccntage changes
(a) Arc price
(c) Unitary
65
The
66.
The

demanded divided by the
(a) Arc price
(b) Price elasiicity
in the quantity
(c) Unitary
(a)
(c)
(b) Conntttation
(d) Quotation
When one selects some facts and omit othcrs,
(a)
(b)
(c)
(d)
(b) Market supply
function has a positive slope.'
Denotation
Definition
one is
Price
shift in the demand f'unction

increases the cquilibrium price and
equilibrium quantity when the supply
is usually the dictionary delinition
Quotation (b) Anonynrs

Denotation (d) Connotation
is an implication ol' a word or a
A ._
suggestion separate fronr thc usual
(a)
(c)
If
the analysis.
(a) Market demand
Demand
Exccss
definition.
function (d) Excess supply
demand means need and supply means

production capacity, a shortage or a surplus
is inevitable because plays no role in
(b)
(d)
(a)
(c)
exists when the quantity demanded

_
gquals the quantity supplied.
(a) Market imbalance (b) Market equilibrium
Supply
The price elasticity of _

measure the
responsiveness of the quantity demanded to a
of a word.
-A
(c)
The supply function shifLs rvhcn fbllowing
(a) Supply
(c) Shortage
Above
is called
53.
Decreases
price change
52. The shared values and beliefs of a workforce
(a)
(b)
(c)
(d)
(b)
Remain constant
(c) Botha&b
51. The changes in the price and the quantity

the
. supplied result in a rnoYemcnt _
supply function
(a) Akrng
Increases
factor(s) changes.
(a) Price of a factor of product changcs
(b) The state of technology clranges
direction that thc price changes, the demand

is
When the slope is positive, . producers
67.
If the value of price elasticity
is lcss than -1,
the demand is
(a)
(c)
Price elastic
Price inelastic
(b) Unitary elastic
comparcs the
_
average percentage change in quantity to the
68. The price elasticity of

(a)
(c)
Supply
Shortage
(b)
(d)
Denrand
Exccss
96
69
If the total revenue changes in the direction

opposite the price change, the demand is
(a)
(c)
Price elastic
Price inelast.ic
(b) Unitary
70, If the total revenue
does not change when the

prices changes, the demand has
(a)
(c)
clastic
(b) Unitary elasric
Price elasric
Price inelastic
ANSWERS
I
2.
8.
9.
d
b
3.
4.
6.
7.
12.
13.
14.
19.
20.
15.
16.
18.
b
d
22.
23.
24
25
26.
30
31.
32
33.
10
17.
29.
36.
37
38.
43.
44.
45
50
51.
52.
57.
b
b
58.
59.
66.
64.
65.
27.
47.
53.
d
d
60
61.
b
d
b
b
b
67.
68.
39,
46.
40.
54.
21.
34.
28.
35.
b
d
42.
48.
55
56.
62.
63.
70
41.
69
49
2.
3.
97
lge When
clastic
SnuPLE
The system
by which
munug"d'and controlled,
ielationshiPs
corporations are
it
A samPle statistic whose
7.
comPanY's
ihareholders, board of directors and senior

management is best described bY
(a) Rules and Regulations
(b)' CorPorate govsmance
(a) Point estimate (b) Irvel of confidence

(c) Unbiased statistic
A business form legally separate from its
owners. It s distinguishing features include
unlimited life, and an ability to raise large
8.
(c) Standard Operating Procedures

(a) goara of Governance
2,
Member of a partnershiP with unlimited

liability for the debts of the PartnershiP is
r, called."' (a) General PartnershiP

i (b) Corporation
3.
to the occurrences of the other'
,
4,
sums of capital is
9.
(c) Sole Proprietorship

(d) Public unlisted
if and
Two events x and y are
of
occurrences
non
or
occurrence
the
only if
assigned
probability
the
affect
not
on. does
-events
(a) DePendent events
(b) Independent events
(c) Both a and b
A sample obtained in such a way that each
possible sample of fixed size n has an equal
example is taxation of income at the corporate

level and again as dividend income when
received by the shareholder is called
(a) Depreciation
(b) Accounting
(c) Double Declining Method
(d) Double taxation
it owners
limited
style
(called members) with corporate
10. A
of the sampling
distribution of sample means is called

(a) Point estimate for a Parameter
single numtrer designed

quantitative parameter of
usually the value of the
and the fcderal
tax
(a) PartnershiP
(b) Sole proprietorship
(c) Limited liabilitv company (LLC)
(d) Public Unlisted ComPanY
11. The systematic allocation of the cost of a

capital asset over a period of time for
financial reporting purposed, tax purposcs,
or both is called-.
(a) Salvage Value (b) Interest

(c) Earnings after tax (d) Depreciation
to
cstimate a
population'
corresponding
sample statistic is called.-'

(a) Standard error of mean
(b) Point estimate for a Parameter
(c) Unbiased samPle

form that providcs
treatment of a partnership is called
(b) Unbiased statistic

(c) Standard error ofmean
(d) Bivariable samPle
6. A
business
personal liability
Random sample (b) Ordered sample

(c) Bivariate sample (d) Union sample
standard deviation
called-.

(c) Public Company (d) Partnership
Taxation of the same income twice' A classic
of being selected is called-'

probability
^(a)
5. The
samPling
distritrution has a rnean value equal to the

value of the population parameter being
estimated. Such as statistic is known as
encompasses the
among a
- ll
Trsr
12.
depreciation that allocatcs

expenses evenly over the depreciable lifc of
method
of
the asset is called-.

(a) Double Taxation Method
(b) Straight line dePreciation
(c)
Accelerated dePreciation
balance deprrciation
(d) Declining
98
13. A
14.
firm
the total cost of producing a

given quantity by selecting a combination of
factors where the slope of the isoquant equal
the slope of the isocost line.
(a)Minimizes
(b)Maximttes
Thc _
total cost of producing a given
quantity occurs when the ratio
23.
A competitive firm acts as if the nrarket prlce

is
of all the number of units sold by
the firm.
(a)
the factor is equal for all factors of
competitive firm
(a)
15.
business form fbr which there is one

owner. This single .owner has unlimited
liability for all debts of the firm. Such type of
business is called
(a) Sole proprierorship
(b) Partnership
(c) Privatc Limited
(d) Public Untisted
16.
17.
18.
27.
(b) partnership
(d) public Iisted
21.
(a)
22.
Lowest
of
32.
producing
single

the
(a) Arc price
If the value of price elasticity is less than ,1,
_.
elastic
firm
can
--- a given quantity at lowest total cost.

product
(a) Naturul monopoly (b) Natural compbtition
Price
Price inelasric
(b) Unitary
elastic
If the value of price elasticity is lcss than -1,

the demand is price elastic and the total
revenue changes in the direction
the
price change
each
(a)
(c)
(b) Highest
exists when
(b)Lon3
(d)Vanablc
fh"----in
the quantity demanded divided by
(a)
(c)
The long run averagc cost function shows the
average cost
run at least one factor of
the demand is
(d)Mo
Minimum total cost occurs when marginal

costs are
at all plants.
(a) Equal
(b)Dlltrcnt
quantity.
In the
(c) Unitary
31.
(b)VaHablc
(b) Explicit
production is fixed
(a)Short
(c)Fixed

when at least one factor is
costs represent the forgone earnings or

income when a firm employs a resourcc for a
(a) Demanded
(c) Opportunity
30.
(b) Oppor.tunity
(d) Variable
(b) Explicir
specific use.
cost is a past expenditure or a

contracted expenditure that a firm cannot
(a)Fixcd
(c)Lcss
20
28.
29.
avoid.
19
costs are payments for factors o[

production, such as wages and rents and
(a) Demanded
(c) Opportunity
(a)-Sunk
(c) Explicit
(b) Lowesr
purchases of goods and seryices.
Member of a limited partne rship not

personally liable for the debts of the
Sole proprierorship
(b) Infinitety

_ total cost of producing each quantity
when one factor is fixed.
(a) Highest
partnership'all partners have

unlimited liability for the debts of the firm.
(a) General
-_ Partnership(b) Limited partner
(c) Public Listed (d) partnership
(c)
elastic.
26.
In a
(a) Limited parrner
Finitely
is
The long run total cost function shows the

when all factors of production are _
(a) Constant
(b)Va able
(b) Highest
Indcpendent
25
production.
(a) Lowest
(b)
The price elasticity of demand for
24.
of
the
marginal product to the last dollar spent on
Dependent
33.
If
Opposite
Perpendicular
(b)Parilllel
the value of price etasticity is cqual to
the demand has
(a)
(c)
I'>rice elastic
Price inelastic
--
(b) Unirary
elusric
99
34.
If the value of price elasticity is equal to -1,
44

change does not change_.
(a) Demand
(c) Total revenue
(a)
(c)
45
Price elastic
Price inelastic
(b) Unitary
elastic
-_.
- 45fi)00x , for tax purpose

the value y of a computer after x years. What
will be the value of the computer after 3
37,
38
47.
competitive
firm
49.
43.
(a) Implementation
(c) Rationality
51.
Demand
(b) Unitary
Mentorship
describes choices that are consistent

specified
constraints
Excess
(a) Implementation (b) Efficiency

(c) Rational decision making
(d) Productivity
the total revenue changes in the direction

opposite the price change, the demand is _.
Price elastic
Price inelastic
Feedback
and value maximizing within
If
(a)
(c)
in a

(d) Un programmed decision
Conveying a decision to those affected and
getting their commitment to it is called
42.
(b)
(d)
called_.
(a) Supply
(c) Shortage
50
compares the
average percentage change in quantity to the
analysis
(b) Problem
(d) Mentorship
(C)S01utiOn
Criteria that define what's relevant
Gap
decision is called_.
(b) Decision criteria
(a)S01utiOn
determines the quantity
The price elasticity of
discrepancy between an existing and a
(a)
(c) V(0 = 1200-150t (d) V(0 = 12000-1500t
produced where price equsls short run_.

(a) Marginal cost (b) Variable cost
(c) Utility function (d) Isocost function
desired state of affairs is
An oflice machine worth Rs. 12000

depreciates in value by Rs. 1500 a year.
(b) C(x) = 60x + 25

(c) C(x) = 6x + 2.5 (d) C(x) = 60x - 25
A set of eight steps including identifying a
problem, selecting an alternative and
evaluating the decision's effectiveness is
(b) Un programmed decision
(c) Decision making process
(d) kadership
48
Using linear or straight line depreciation, the

value V of the machines as a function f years
t can be expressed as _.
(a) V(t) = 1200-1500t (b) V(t) = 12000-150t
40.
two
called_.
Consider the profit function, P = 52 - S + 7,

where S = units sold and P = profit. What
39.
of

(a) C(x) = 0.60x + 0.25
For the equation in Question 36 above, what

is the salvage value after 5 years.
(a)650000
(b)750000
(c)850000
(d)950000
(a) 10
(c) 12
elasticity is the ratio

cost C as a function of the number of pounds
(b)1750000
(d)1950000
sales?
46. An vegetable orchard charges Rs.25 to enter
years?
(c) 1850000
The
(b) Unitary elastic
(c) Unitary
36. If y = 3000000
(a)1650000
Price elastic
Price inelastic

equal to percentage changes.
(a) Arc price
(a)
(c)
the total revenue change in the same

direction that the price changes, the demand
is-
(b)Supply
35. If the value of price elasticity is between -1
If
elastic
If the total revenue does not change when the

'prices changes, the demand has_.
(a) Price elastic
(b) Unitary elastic
(c) Price inelastic
52.
Behavior
that is rational within
the
parameters of a simplified decision making

process, which is limited or bounded by an
individual's ability to process information

called
(a)Satisicing
(C)Soldiering
is
(b) Bounded rationality

(d) Efficiency
100
contains 5 blue balls and 3 red balls.

Red ball is picked from the bucket at randorrl
53. A bucket
without replacement. Then the second ball

was picked. The probability that red ball will
be picked second time as well ls

(a)0
(b) 1/7
(c) 2/7
(d)3/7
54.
A bucket cOntains 5 blue baus and 3 red
concern for others is called

(a) Quality of life
(b) Individualism
(c) Collectivism (d) Quantity of lile
`2.
baliso Red ball is plcked froln the bucket at
ltr ll:Ittll
(a)0
(c)6/7
55
The feelings of confusion, disorientation, and

emotional upheaval cased by being immersed
in a new culture is called__.
(a) Psychological culture

(b) Culture shock
(c) Socialization
(d)Collect ism
randOm withOut replacemento Then the
lS________.

63.
The process that employees go through to

to an organization,s culture is
adapt
(b)5/7
(d)1
called_.
(a) Mentorship
(b) Organizational socializarion
(c) Decision making
(d) Alliance
A rlrm has a rlxed cost Of Rs. 25000 and

variable cOsts per item manuFactured is Rs
rhe rlrnl,s total ccDSt aS a functiOn of
output will bc__ _.
85
(a)Y=2500+85X
64.
(b)Y=25CICl+85X
choice from two
or more alternatives
(a) Option
(b) Decision
(c) Alternative (d) Probtem
(c)Y=2500_85X
(d)Y=25000+85X
yal
r
:ls
65
Probability of an event a is has the rdnge

and
accOrdingly,
(a)O and l
Supply: Q=_50+6P
(b)O and l
(C) l and 2
(d) l and o
Domand:Q=230_8P
66.
TStteequ ;
(c)30
b
58. For Question 56, the equilibrium
59
68.
Revenue + Cost
60. A nationql culture attribute describing the

extent to which societal values are
characterized by assertiveness and
(a) Quality of life
(b) tndividualism
(c) Collectivism (d) euantity of life
Events defined in such a way the occurrence

of one event excludes the occurrence of any
of the other events are called
(a) Union events (b) Intersection evenrs
(c) Mutually exclusive events
Prorlt=
(a) Revenue - Cost (b)

(c) Break even point
(b)0
(d)1
(c) 2
(c)80
(b)
(d)
Sum of all the probabilities of each event in a

sample space equals _
(a) 1
demand
quantity will be
(a)60
67.
(a)60
(c)80
the equi brium supply
quantity will be
The set of all sample points in the sample

place that do not belong to event a. Such an
event is known as _.
(a) Complement of an event

(b) Union of event
(c) Intersection ofevent(d) Subset of event
(d)40
57. For Question 56,
is
called
(d)
69
In
Superset events
the owner is personally liable for
the debts of the business.

(c) Financial statemenrs
101
70.
is an
unincoiporated business
organization with a single owner.

(b) -Public unlisted company
ANSWERS

)le
lln
9
16
3
10
8
15
17
22
24
31
36
43
50
23
30
37
44
29
51
38
45
52
57
58
65
64
59
66
C
a
4
11
18
25
32
39
46
53
60
67
12
19
26
13
14
20
21
b
b
27
28
34
41
47
49
54
48
55
b
b
35
42
61
b
b
b
68
d
a
b
d
b
33
40
62
69
d
b
a
56
63
70
102
1.
Samples
that are selected on
being typical is called
(a) Sample frames

(c) Judgment samples
2.
LS
(a) Interest rare

(c) Risk
(b) yield
(d) Return
The variability of returns from those

that are
expected is
called_
(a) Risk
(b) probability
(c) Rerurn
(d) Coefficienr of variarion
A firm which has fixed cost of Rs. 650 and

marginal cost of k. 9, which is the expense
incurred for each additional unit of ,"tp;;.
Thetotal cost C, can be expressed by the equation
C=9x+560.
10
(a)695
is
(c) 895
the
units are produced units?

(b) Systematic sampling
is
795
995
12. What is the cost, if

population or by sample without replacement
form a(n)
population.
(a) Finite, infinite (b) tnfinite, finite
A sample in which every kth item of the
randomly selected first eterient
(b)1720
(d)1920
units?
(a)460
(c)660
firnr produces no
23
(b)560
(d)760
13. what rlxed cost, can be assunled frOm the

equatiOn?
(a)460
(c)660
Conventions
. called_.
what is the cOst, if the rlrnl prOduces 150
11. What is the cost, if the rlrnl prOduces 15
6.. --:.- of eye contact are specific to each

culture.
(a) Culture
(b) Messagc
(c)
2(
units?
(a) Probability samples

(b) Judgment sampling
(c) Sampling flrames
(d) Biased sampling
8.
(b) Random sample

(c) Probability sample
Samplcs in which the elements to be selected
called--.
by stratifying the
of a simple random sampling
(a) 1620
(c) 1820
7.
means
'
5.
of
sample obtained
techniques is called
(a) Non stratilied sample
Income on an investment plus any change

in
percentage of the beginning market

price
the investment is cdled_-_.
Probability sampling
Random sampling
sampling frame and then sclecting a fixed

number of times from each of the
-"strata by
(b) yield
(d) All ot,rhe Above
market price, usually - expressed as
4.
9. A
The variation in thc market price of

security
caused by changed in inicrcst rates
is
called_.--.
(a) Inrerest rate
(c) Rist
3.
of
the basis
H:: :
Sauple Tesr - ill
14.
(b)560
(d)760
in such a way that very

in _the population has an equal
"l"T"T1-.
probability
sample selected
of being chosen is called
(b) Simple random sample

(d) Sampling frame
15
A combination'of two or more securities or

assets is best described
(a)
(c)
Parameter
Portfolio
by._.-.
(b) program
(d) Beta
24
103
1`.
Consider the equation

(c) 13
19.
x/4-x/_5=6,the valuc of x i _______?

(a) 100
(b)110
(c) 120
(d)130
27.
28.
(c)
29.
22.
(b)
(d)
23.
30.
The amount by which the current price of a

bond exceeds its face value is called_.
The customer's evaluation of the difference

between all the benefits and all the costs of a
competing offers is called
31.
Making
(d) Simulation
(d) 7
The value of the entire stream of purchascs

that the customer would make over a lifetinre
Bond discount
Yield
The portion of the customer's purchasing

that a company gets in f,ts product categories
called_.

of the firm's products unless it undertakes a
large scale sclling and promotion effort is
(a)Selling concept
(C)Market cOnccpt
32.
Extra payment for empnoyees whose jobs are

being eliminated, thereby motivating them to
remain with the organization for a period of
time is called_.
(a)
(b)
(c)
(d)
33.
(b) Product concept

(d) Service concepr
Extra Payment
Transition stay bonus
Motivating Bonus
Transactional Bonus
A formal research effort that evaluates the

current state of HR management in an
(a) HR audit
(c) Research Audit
The amount by which the face value of a

bond exceeds its current price is called
(a) Intrinsic Value

(c) Extrinsic Value
(b)-8
25
Extrapolate ' (b) Interpolate

Curve
(b)109
(d)120
called_________.
called
(c)
the value of x is
(a) Share of customer

(b) Profit
(c) Product
(d) Customer equity
Estimating an unknown number that lies

somewhere between two known numbers is
(a)
l,
Consider the equation 56x + 7y = 91, wlrat is

is
160
(a) Customer evaluatiorr

(b) Customer-perceived value
(c) Competition
(d) Customer generated value
24.
5 = xl9 +
(a) Lifetime patronage

(b) Share of customer
(c) Customer relationship
(d) Customer lifetime value
140
(a) Bond premium (b) Intrinsic Value

(c) Extrinsic Value (d) yieta
10
of patronage is called
(c) Probability
Interest rate
Standard Error mean
560
150
xl6
(a)8
(c)7
The value of the intercept in the equation in

Question 10 is
(a)
Customer sharing
(C) 110
A measure of rclative risk is

(a) Coefficient of Variation
(b)
(d)
(d)
(a)108
(b) Coefflcient'of variation

(c) Interest rate
(d) Probability
20
other
customers is called
(b) Joint venture
(c) Alliance
The ratio of the standard deviation of a

distribution to the -""n oi that distribution
is called
(a) Parameter
in
company departments and orrtside the

company to jointly bring greater value to
The expected rate of return on a bond if

bought at its current market price and held
to maturity is called_.
(a) Bond discount (b) Yield to rnaturity
(c) Annuity
(d) Extrapolation
18
26. Working closely with partners
(b)12
(d)14
(a)11
17.
l6y = 176. The slope
Formal Audit
Evaluative Audit
104
34. The analysis of data from IIR records to

determine the effectiveness of past and
41,
(b) HR audit
(c) Transactionalaudit
(d) HR research
(c)
(d)
decisions should consider consumers' wants,
42.
the company's requirements, consumers'

long run interest, and society's long run
Customer perception
The overall
process
43.
of building
and
maintaining profitable customer relationships
by delivering super.ior customer value and
(b) Customer perception

(c) Customer satisfaction
(d) Competition
37.
38.
44.
Return
goals
(c)
39.
Marketing concept
(b) Selling concept

(d) Service concept
called_.
40.
both invited and unimvited is called

(a) Branding
(d)
Consumer value
54.
(b)
(d)
55.
Forecasting
Fore sensing
Comparing specific measures of performance

against data on those measures in other .,best
practice" organizations is called_.
(a) Auditing
(b) Gap Analysis
57.
Calculation showing the value of expenditures
for [tR activities is called

(a) HR audit

(c) Capitallnvestment
(d) Profit or Loss
Marketing messeges, ads, and other brand

exchanges created by consumers themselves
53
Use of information from the past and present
(c) Benchmarking
(d) Retum on Investment
47.
(a) Customer satisfaction

(b) Customer matching
(c) Customer competition
(d) Customer evaluation
52
56.
46.
The extent to which a product's perceived

is
of studying the environment of the

organization to pinpoint opportunities apd
threats is called
51
Process
(a) Futuristic
(c) Predicting

target market and delving the desired
called_.
(a) Research

(b) Human Resource Information System
(c) MIS
(d) HR Decision Making Sysrem
The total combined customer lifetime value
of all of the company's customers is called
of identity expected future conditions is

called_.
The marketing management philosophy that
satisfactions better than competitors do is
An integrated system designed for- providing

(a) Environmental Studies

(b) SWOT Studies
(c) Environmental Scanning
(d) Pinpoint Opportunities
45.
holds that achieving organizational
50
Statistical Analysis
(a) Share ofcustomer (b) Customerequity

(c) Profit
(d) Customer relationship

(a) Economic value added
(b) Utility Analysis
(c) Profit
(d)
45
called
interests is called
(b) Societal marketing concept
3`
other
The idea that a company's marketing
(d)
in which economic or
statistical models are built to identify the

costs and benefits associated with specific
HR activities is called
present HR practices is called_.

(a) Research methodology
35
Analysis
48.
(a)
(b)
(c)
(d)
can hinder ones verbal message_.

Culture and message
Eye contact and facial expression
Conventions and eye contact
Time and space
58.
105
49i
Concepts of
(a)
(b)
(c)
(d)
50
59. The ratios which can be used to

(c)
60

in the asset and an
cause a(n)

51.
52.
decrease
Decrease, increase
(d)
61
Decrease, decrease

in cash and a
in
the
lnd
53.
Increase, increase
Decrease, increase
is the most
(a)CaSh
(c)
(d)
54.

liquid of all assets.

(b) Human resource
62.
55.
56.
Receivable
(b)
64.
57.
(a)
(b)
(c)
(d)
58
(a)
(b)
(c)
(d)
`5
average
called_.
(a) Productivity rati<ls

(b) Employee Unit Ratio
(c) Average Ratio (d)
None of the
Sample
Random sampling merhod
Biased sampling merhod
Un-biased sampling merhod
A
is an implication of a word or a
suggestion separate from the usual
When one selects some facts and omits

others, one is
number of units production per employee is
aboql
the
(a)- Denotation (b) Connotation

(c) Definition
(d) Quotation
Right side (credit side)
A&c
The Ratios that calculate the
called_.
definition.
66.
Title and left side (debit side)

Title and right side (credit side)
sampling method that produces values
population being sampled is
Following are basic part(s) of an
account
which systematicalllr differ from
in the

(d) Imponance to the operation of the business
variable (d) Nominal variable

(c) Nominal variable
(d) Random variable
Payable
On a balance sheet, assets are listed

order of _.
Random
called_.
convert into cash.
(a)
is
63. A quantitative variable that can assume an

uncountable number of values is
is a liability that.requires
Receivable (b) Payable

Account
are assets that wiII shortly
ranking
(a) Random variable (b) Ordinal variable

(c) Nominal variable (d) Qualitative variable
A quantitative variable that can assume a
(c)
payment.
(a)
A qualitative a variable that incorporates an

(a) Ordinal variable (b) Discrete variable
Transport department
Machines
Accounts
equipment
Retained eamings and notes payable
Contributed capital and retained earnings
ordered position or
called_.
cause a(n)
account receivable.
(a)
(c)
The two categories of stockholders' equity

usuatly found on the balance sheet of a
(c)
(d)
The cast payment of an account payable or"

note payable will cause a _
in the asset
cash and a _
in the liability paid.
(c)
(d) Employee Ratio
(a) Contributed capital and long-rerm liabilities

(b) Contributed capital and property, plant, and
Increase, increase
Increase, decrease
Decrease, incrcase
Decrease,
Estimate Ratio
corporation are.
in a liability.
(a)
(b)
(c)
(d)
estimate
indirect labor is called

(a) Labor Ratio
(b) Staffing ratios

7Cs and 5Ws
Time and space
None of the above
_.
(a)
(b)
(c)
(d)
Hiding facts
(a)
(c)
Research
67.
Abstracting
Briefing
Writing his own views
are conclusions drawn from evidence.
(b)Rcfercncc
Inferences
(d)OpiniOn
106
68.
toward a message can

receiver's
determine whether it is accepted, rejected,
distorted or avoided.
-
70. A tist of the
to
population from which the sample will

drawn is called
(a)
(c)
(b) Attitude
(d) a&b
(a) Opinion
(c) Values
elemenLs belonging
Population
Judgment samples
(a)
response.
(b)
Negative
Favorable
15
b
c
22
29
36
43
30
37
44
51
50
57
64
58
65
d
b
a
C
'10
11
12
13
14
17
b
b
32
28
35
42
49
56
63
19
26
33
24
31
18
25
70
38
45
52
40
39
46
20
27
34
41
47
48
53
54
55
59
60
61
b
b
62
66
67
68
a
a
69
d
a
b
b
b
ANSWERS
2
9
16
23
be
(b) Sampling fiame

(d) Probability samples
69. Credibility in the sender is important in

getting a
the
b
b
c
L07
SnrvlPLE
represents a set of market baskets
where the well being of the consumer is the
10.
11.
(b) Price
- elasticity
(c) Unitary elasticrty
The slope of an indifference curve must be
4.
5.
Negative
(b)
(a) Not
12.
Consumers can afford only a subject of all

possible market baskets because each once
faces a
(c) Marginal rate ol'substitution
The
(d)
13.
7.
8.
The .-is
the slope of the in-difference
(a) Marginal rate of substiturion

(c) Unitary elasticity
and
(b) Interdisciplinary revolurion

(c) Industrial revolution
(d) Entropy
14. The use of the scientific method to determine
the 'bne best way,, for a job to be done is
called
(a) Scientific managemenr

(d) Work break down
15.
The use of quantitative techniqucs

(c) Research
(d) Hawthorne
A popular measure of brand loyalty is

16
to
studics
(behavior)
of
people
at work is
(a) Psychology
(b) Organizarional behavior
called
(a) Budget constraint

(c) Market baskets
(d) Relative frequency of purchase
The revolution which involves the advent of
efficient transportation is called

(a) Scientificrevolurion
shows which market baskets
The goal of the consumer is to maximize

utility while satisfying the
(a) Budget constraints (b) Indifference curye
General management
machine power, mass production
the consumer can afford

(b) Indifference
curve
The breakdown o[ jobs into narrow and

(a) Work break down
(b) Touch
Touch
The reality that management is needed in all

types .and sizes of organization, at all
organizational levels, in all organizational
areas and in organization in all countries
around the globe is called_.
(b) General management

(c) Total management
positive
Flat
Indifference curves must
deliberate arrangement of people

accomplish some specific purpose
(a) Organization (b) kacling

(c) Controlling (d) Delegaiing
Demand curve
The
is the slope of the in-difference
(a) Marginal rate of substitution
(a)
(c)
called--.
same.
(a) Supply curve (b)

(c) Inditference curve
- lV

Trsr
108
(c) Research
(d) Bureaucracy
17. A series ofstudies during thc 1920s and 1930s

that provided new insights in individual and
(c) Probability sample

25
group behavior is called---_.
18.
19.
belonging to the
population from which thc sample will be
drawn is called
(a) Population
(b) Sampling frame
(c) Judgment samples (d) Probability samples
that are selectetl on the basis of
being typical is called
20
called
(a)
(c)
27.
called
28
is
21:
22.
in
31.
by sample ,nitfrout
population.
(a) Finite, infinire -.(b)
tnfiniie, finite
A sample in which every kth item of the

randomly selected flrrst element is called

(b) Systemaric sampling
(c) Probability sampling
(d) Random sampling
32.
Random sample
in owners, equity.
The cast payment of an account payable or

note payable wiII cause a ,in ihe asset
33.

in cash and a
in
cause a(n)
account receivable.
sample obtained by stratifying the

sampling frame and then selecting a nxea
number of times from each of the itrata by
I".u": of. a simple random ,u*fii"g
(b)
a(n)
(a) Increase, increase (b) Inciease, decrease

(c) Decrease, increase (d) Decrease. decrease
cause a(n)
in the asset and an
in a liability.
(c) Decrease, increase (d) Decrease, decrease
cash and a
in the Iiability paid.
(c) Decrease, increase (d) Decrease, decrease
tcchniques is called
(a) Non stratified sample
Window appearance(d) False drissing
The investment of cash in the business by the

owners will cause a(n)
-.- in an assei and
replacement form an
24.
The term
refers to enhancing the
appearance of the enterprise,s financial
statements by taking certain steps near the
end of the financial reporting p".ira.
(a) Window dressing (b) Dieising
30
population or
23.
(b)Dif rent
fhu relationship among balance shedt,

income statement and statement of cash
flows is known as articulation.
(a)True
(b)Falsc

all based on the
29.
A sample selected in such a way that very

element in the population has an equal
probability of being chosen is called
(a) Judgment sample

(b) Simple random sarrple
(d) Sampling frame
(b) Distribution
(d) Sample diagram
Financial statements are
(c)
Biased sampling
is
underlying transaction.
1";'e.obubility samples
(b) Judgmenr sampling

(c) Sampling frames (d)
Pareto diagram
Random diagram
(a)Samc
Samples in which thre slsm.r,s to be selected
36
the frequency of each yalue of the varialle
(a) Sample frames (b) probability samples

(c) Judgment samples (d) Biased samplin!
called_.
(a) Ordered diagram (b) pareto diagrarn

(c) Random diagram (d) Dotplot diagram
26
A list of the elements
Samples

the rnost numerous category to ihe least
numerous category is
(a) Hawthorne srudies

(b) Maslow hierarchy of needs
35
(a) Increase, increase (b)

(c) Decrease, increase (d)
34.
Increase, decrease
Decrease, decrease
is the most liquid of all assets.
--:-Cash
(a)
(c) Transport
(d) Machines
(b) Human
department
resource
3,
109
Accounts
35
Receivable (b) Payable

Account
are assets that will shortly
36.
(a)
the
llays
rle is
Receivable
(b) Payable
On a balance sheet, assets are listed in the

order of
37.
47.
(a)
convert into cash.

n
is a liability that requires
payment.
(c)
(d)
48.
(c) Ease -.
of conversion to cash
39.
(a)
(b)
(c)
(d)
40.
Culture
(b)
Message
Conventions
49.
can hinder ones verbal message.

Culture and message
Conventions and eye contact
Time and space
Concepts of
41.
and courtesy.
(a)
SC
asc
will
Se
iSe
50.
True
(b) False
42. AII
seven C's can apply to both oral and

written communication.
(a) True
(b)
44.
7 Cs
(d)Nonc ofthe above

52.
45
(b)Falsc
(a)A and B
(C)C and d
Calculation showing the value of

(c) Capitallnvestment
(d) Profit or Loss
46.
A. Motivation
B. SelfMotivation
C. IntrinsicMotivation
D. Alt of the above
(b)5 Ws
expenditures for IIR activities is called_.

(a) HR audit
A firm's net operating profit.after the cost of

(a) Economic
value added
(b)UtiHty Analysis
(d) Return
(C)Proflt
a prson causing that

called_.
The desire within

person to act is
5 Ws are who, what, when, where, and why.
(a) True
called_.
51, Individual performance factors hre

(a)Ability,effolt,Support
(b)Effort,Support,Ability
(C)Support,Ability,Effolt
answer
(
internet-linked network that allows

(a) Intranet
(b) External Linked Intemet
(c) Extranet
False
43. One way to complete the message is to
Made Web
An
external entities is
The 7 Cs are correctness, conciseness, clarity,
completeness, concreteness, consideration
organizational network that operates
(a) Organizational Web (b) Custr\m

(c) Web Network Connection
(d) Intranet
and
An
over the internct is called
(a) Eye contact and facial expression

(b) 7Cs and 5Ws (c) Time and space
'the


(b) Human Resource Information Systerr
(c) MIS
(d) HR Decision Making System
culture.
(a)
(c)
StatisticalAnalysis
called_.
38.
the
Analysis in which economic or othcr

statistical modetrs are built to identify the
costs and benefits associated with specilic
HR activities is called_.
53.
(b)B and c
(d)Only E
Maslow's Hierarchy of needs are

A. Physiological Needs
B. Safety and security needs
C. Belonging and love needs
D. Esteem needs
E. All of the above
(a)A and B
(c)D and E
(b)C and D
(d)Only E
110
54. Herzberg's Motivation/ Hygiene Theory

assumes following group of factors
(a) Motivators and Hygiene faclors
(b) Motivator and High Sakiry
(c) High Salary and
Conducivc
Environment
breakeven level of output is
(a) 30
(c) 50
Working
55. In the contcxt of llerzberg's Motivation/

Hygiene Theory, motivators
(a) Accounts for high levels of job satisfaction
and motivation
(b) Conducive Working Environment
(c) Can cause dissatisfaction with work
(d) Motivators and Hygiene factors
56. An vegetable orchard
63. For the equations in euestion 3l
charges Rs.25 to enter

(a) C(x) = 0.60x + O.2S
(b) C(x) = 60x + 25
(c) C(x) = 6x + 2.5 (d) C(x) 6Ox - 25
=
57. A firm has a fixed cost of Rs. 25000
(a) Y=2500+85X (b) y=2500+85X

(c) Y=2500-85X (d) y=25000+85X
58. Consider the supply function and demand
C(x) = 6x + l?,0t"then the profit function will be
(a) profit = -3x, + 42x + I2O

(b) profit = -3xz + 54x + l2O
(c) profit = -3x2 + 42x _ I2O
(d) Profit = -3x7 + 54x - IZ0
65. Taxation of the same income twice. A
Ievel and again as dividend income when
re+eived by the shareholder is called
(a) Depreciation (b) Accounti.g

(c) Double Declining Method
(d) Double taxarion
66. A business form that provides it
owners
(called members) with coiporate style
limited
personal liability
What is the equilibrium price
(a) lo
(c) 3o
Gt
20
(d) 40
59. For Question 5E, the equilibrium supply
quantity will be
(a) 60
(b) 70
(c) 8o
(d) e0
60
For Question 58, the equilibrium demand
quantity will be
(a) 60
G) zo
(c) 8o
(d) 90
Profit = -.-
(a)
(c)
62.
Cost
Revenue Break even point
(b) Revenue + Cost
For Revenue, R(x) = 80x, total cost,

C!1)-= 30x + 2000, then thc profit equation
will be
(a) Profit = 50x
(b) profir 2000
(c) Proflt = 50-2000x (d) profir = 50x _ 2000
=
and the federal tax
(a) Partnership (b) Sole propiietgrship

(c) Limited liability company tr_i_Cj
(d) Public Unlisred Company

financial reportlng purposed, tax purposes,
or both is called_
(a)
(c)
68.
Supply: Q=-50+6p
Demand:Q=230-8p
classic
example is taxation of income at the corporate
accordingly,
above, the
(b) 40
(d) 60
64. Consider Revenue, R(x) = -3x2 + 4gx and
and
variable costs per item manufactured is Rs.

85. The firm,s totsl cost. as a function of
output will bc
_-
Value
Salvage
Earnings after
(b)
Interest
tax (d) Depreciation

method of depreciation that allocates
expenses evenly over the depreciable

the asset is called
(b) Straight line depreciation
life ot
(c) Accelerated depreciation

(d) Declining balance depreciation
69. Methods of depreciation that write off the
cost of a capital asset faster than under
straight line depreciation is called
(a) Accelerated depreciation

(b) Double declining merhod
70. Thc_ marketing management philosophy that

holds that achieving organizational -goals
desired
target market and delving the
satisfactions better than conrpetitors do is
called--.
(a) Research
(c)
Marketing concept
(b) Selling conccpr

(d) Service concepl
ANSWERS
C
8
15
22
29
36
43
50
57
64
2
9
16
23
3
10
17
a
a
24
31
25
30
37
44
51
38
45
52
58
65
59
66
14
6
13
20
26
33
28
34
35
41
48
d
b
40
47
54
61
d
b
68
55
62
69
42
49
56
63
70
11
b
b
d
12
19
18
32
39
46
53
60
67
b
a
15.
SnruPLE
The
is a horizontal summation of all
individual consumer demand functions.
Trsr - V
9. Cultivating learning culture in

(b) tndilference
curve
(d) Market demand function
2.

(b) kaming management
is the lowest price at which the

Demand price
A reservation price is the lowest price at which

the consumer's quantity demanded is _.
(a) Maximum
(b)Mi mum
When the price of Y changes and the

quantity demanded of X changcs in the same
direction, with the price of X hetd constant,
X and Y are called
(a)
(b)
(c)
5.
called_.
measures the average

in the quantity of one
percentage change
good relative
to the average percentage
change in the price of another.

(a) Arc elasticity
(b) Cross arc elasticity of demand
6
The change in quantity demanded of a

commodity due to the change in money
income is called the
(a)Indiffcrcncc
(c) Budget
7.
effect.
(b)InCome
The
demand measures the average

percentage change in the quantity demanded
relative to the average percentage change in
income.
(a) Indifference curve of
(b) Budget
(c) Arc income elasticity of
8.
The _
effect measure the change in the
quantity demanded of X due to a change in
the relative price of X with utility held
constant.
(a) Substitution effect
(b) EngelCurve
(a) Workplace diversiry

(d) Workplace spirituality
18.
in which the key values are

intensely held and widely shared are
called--.
19.
11. Cultures
Substitutes
Gross substitutes
Part of marker baskets
The
17.
10. A recognition of an inner life that nourishes

takes place in the context of community is
(c) Zero
4.
16
performance is called
consumer's quantity demanded is zero.
(a) Reservation price (b)

(c)-Supply price
which
organizational members systematically

gather knowledge and share it with others in
the organizations to achieve better
(a)
(c)
12.
culture (b) Negative culture

cultures (d) Weak culrure
Positive
Strong
affect an organizationrs performance

called
20.
is
(a) External enyironmenr

21`
13. Broad
external conditions that may affect the

(a) General environment

(b) Specific environmenr
(c) Intemal environment
14. The degree of
change and complexity
in
organization,s environment is called_.
(a) Extemal uncertainty

(b) Environmental uncertainty
(c) Internal certainty
(d) Environmental certainty
an
23
113
15
The number of
components
in
an
24.

an organization's knowledge about its
environmental components is called
(b) Parochialism
1`.
called_.
17.
18. The _
(b) Dotplot display

(d) Cluster diagram
is the value that occurs
27.
(b)
Incrcasc
(d) Net
Expenses
income
term
mans the cost of the goods
and services used yup or consume dint he
The
(a) Profit
(c) Net income
28.
(b) Median
(d) Variance
a
(b) Expenses
(d) Debit
What are the categories of cash flows that

(a) Cash flows from investing, tinancing, and
(b)
service activities
Cash flows from operating. production, and
(c)
Cash flows from financing. production, and
The difference in value between the highest

value and the lowest valued pieces of data is
(d) Cash flows from operating. investing,
internal activities
growth activities
29.
(b) Range
(d) Mode
(b) Credit
rhe

end of the period
(c) The amount of rent used up (incurrecl)

(d)
30.
in

An increase in net
income
As an author, when one thinks that the reader
will consider the
The _
amounts of debit and credit entries be made
for every business transaction.
(a) Double
(c) Credit cash
rhe
current period
(a) Inter quartile range

(b) Quartiles
(c) Percentile (d) Mid quartiles
side)
is_.
(a) The amount of cash paid fbr rent in
The difference between the rlrst and third
(c) Right side (credit

(d) A&c

income statement
Following are basic part(s) of an account_.

and
linancing activities
quartiles is called
23.
Decrease

(a) Mean
(b) Midrange
(d) Mode
(c) Variance
(a) Mid range

(c) Mean
22.
in
represents the price of goods sold and

period
(a) Profit
(b) Revenue
(c)
rnost
The number exactly midway between
called_.
21.
process of obtaining revenues.
20.
26.
(b) Median
(d) Standard deviation
(a) Mean
(c) Mode
Investing activities
Operating profitably causc

(a)

(a) Mean
(c) Mode
Purchasing activities
owners'equity.

order according to size is called_.
19.
(c)
(d)
25.

a scale is
(a) Pareto diagram
(c) Sample diagram
On the statement of cash flows, a company

cash used in
(a) Operating activities
balance
message favorable or neutral

information, one can use the
approach.
(a) Direct
(b) Indirect
the

the request or inl'ormation, one can use the
approach.
(a) Direct
(b) Indirect
114
As an author, when onc thinks that
32.
the
the request or information, one should not
spring he main idea in the first paragraph.
(a)
33.
True
The
(b)
- important
34. The most
message are the
C.
(a)A and B
(C)C and D
One agrees
fo
person.
(a) True
(e)B and D
(b)Bad
42.
C. InvoluntaryAbsenteeism
D. ExpectedAbsenteeism
(a)A and B
(C)C and D
(e) B andD
a plan and agrces with a

(b) Falsc
43.

is
called_.
(a) Equity
(c) Justicc
(b) Equality
(d) Faimess
44. The value of the intercept in the equation in
46.

beliefs that working harder will lead to
considers individuals' experctations that

high performance actually will tcad to rewards
are different types of absenteeism
B. Unexpected Absenteeisnr
C. Involuntary Absenteeism
D. Expected Absenteeism
(a) AandB
(c) C andD
(e) B and D
(b)B and c
(d)A and C
(a)11
(b)12
(d) 14
176. The slope
::lillie ::Itl;littn s176. The x

(c)2
(d)
Does nor exisr
47. For the equation a = y, the x and y intercepts

None
1,0
48.
(b)0,0
A firm has a rlxed cost Of Rs _7000 and
(a)14000
(c) 16000
49.
56.
(d)0,1
variable cOst Of Rs. 600 Or each unit

pllilCtoWhatisthetotalcOstOfproduct15
(b) EfTort-performance expecrations

(c) Expectancy linkage
(d) Psychological Contract
40, Following
(c) 13
39.
Consider the equation l6y.

of the given equation is _
performance are

45.
Question 13 is .-
(a) 13
(c) 15
desired outcomes
(b) Maslow Theory of Hierarchy of Needs
(c) Herzberg Theory (d) Equity Theory
(b)-8
(d) 7
base decisions about their behaviors on their

behavior is nrore likely to lead to needed or
(b)B and c
(d)A and C
Consider the equation 56x + 7y 91, what is

=
(a)8
(c)7
37. Following theory that states that individuals
'
Opening
36. The pcrceived fairrress of what the person
(b)B and c
(d)A and C
paragraphs.
(a) Writing
(b)
(c) Closing
(d) Opening and ckrsing
(d) Expected Absenteeism
Falsc
positions in any business
absenteeism is called
news message is one of the most
difficult to write.
(a) Good
35
41. Avoidable
57.
(b)15000
(d)17000
rm has a fixed cOst Of Rs. 7000 and

variable cOst Of R. 600 10r each unit
do What the btt cO"Of produd 30
(a)17500
(c) 19500
(b)18500
(d)20500
58
115
50
A lirm has a fixed .cost of Rs. ?000 and

variable cost of Rs. 600 for each unit
59.
product. What is the fixed cost?

(a)7000
(b)8000
(C)9000
(d) 10000
51. If y
at the beginning of each pcriod

called_.
3000000 - 450000x , for tax purpose

the value y of a computer after x years. What
(a)
(c)
years?
(a)1650000
(c) 1850000
52
53.
at is
(b) 1750000
(d) 1950000
60
54.
An
61.
(d) 13
olTice machine worth Rs. 12000

in value by .Rs. 1500 a year.
Using linear or straight line depreciation, the
interest rate
is
63.
64.
rnit
:30
Present Value
58. Interest rate used to convert future values to

(b)
Interest
(c)
Inf'lation
(d) Perpetuity
rare
The rate of interest earned or paid after
A table
showing the repaymcnt schedule of

interest and principal nccessary to pay olT a
Ioan by maturity is called__.
The amount of money that could be realizcd
(a) Amortization
(b) Liquidation value
65
The amount a firrn could be sold for as
continuing operating business is called_.
(a) Market Value

(c) Intrinsic Value
(d) Face Value
present value is ralled

(a) Discount rate or capitalization rlte
A rate of intercst quoted for a year that has

not been adjusted for frequency of
compounding. If interest is compoundcd
called_.
interest earned, as well as on the principal

borrowed or lent is called
nnd
FutLrr.e Valuc
separately from its operating organization is
or paid on any previous

(b) Simple Interest
(c) Annuity
(d)
('d)
if an asset or a group of assets is sold
Value
57. Interest earned
(b) Annuity
(a) Amortization sclredule

(c) Rate of Retum
(d) Interest Return
The current value of a future amount of

a given interest rate is called
(a) Annuity
(b) Present value
(c) Future
(d) Interest
Value
(b) Compound Interest

(c) Amcrtization (d) Simple Inrercsr
(a) Annuity
(b) Present Value
(c) Future value or terminal value
(d) Growth value
epts
rnit
r15
at a given
Perpetuity
Present
adjusting the nominal rate for factors such as

the number of compounding ;reriods per
year is called_
(a) Effective annual intercst rarc
The value at some futurc tirne of a present

called_.
and
62.
_.
evaluated
AnnLrity

(c) Amonization
(d) Nominal (stited) intercsr
(b)11
valu.e V of the machines as a funciion f years

t can be expressed as
(a) V(t) = 1200-1500t (b) V(r) = 12000-150t
(c) V(t) = 1200-150t (d) V(r) = 12000-1500t
5
Future Value
more than once a year, the effective interest

rate will be higher than nominal rate. Such a
rate is called_.
depreciates
lope
([)
(d)
An ordinary annuity whosc paymcnts or

(a)
(c)
sales?
ln in
Present Value
Interest
is
For the equation in Question 2l above, what

(a)650000
(b)750000
(c)850000
(d)950000
Consider thc. profit function, p = 52 - S + Z,
where S=units sold and p - profit. What
(a) 10
(c) 12
series of equal payments or rcceipts

occurring oyer a specified number of
periods. In an ordinary annuity, payments or

receipts occur at that end of cach period; in
an annuity due, payments or ,receipts occur
will be the value of the conrputer after
118
15.
All constituencies with a stake in the fortunes

of the company. They include shareholders'
creditors, customers, employees, suppliers
and Iocal and international communities in
'which
the firm operates is called
(a) Stakeholders
(b) Owners
(c) Consumers
(d) Government Agencies
16.
(a) Good
25
18. At the core
of
Correctness
27.
Clearness
28.
Concreteness
Conciseness
19. As an author, when 6ne thinhs that
the
neutral information, one can use the
approach
(a) Direct
(b) Indirect
-1
elastrc
(b) Unitary elastic
Price
Price inelastic
If
the value of price elasticity is between -1

and 0, the demand is price inelastic and total
revenue changes in the
direction as
the price change.
(b)
Opposite
Same

cause a(n)
in the asset and an
in a liability
(a) Increase, increase
29, The cast payment of an account
payable or
note payable will cause a _
in the asset
cash and a _
in the Iiability paid.
30. The collection of an account

cause
also
a(n)
account receivable
called as _
(a) natural
(b) natural
(c) natural
(d) natural
Supply

20. unemployment always has a

(a) economic cost
(b) economic profit
(c) economic stability
(d) economic advantage
21. full-employment unemployment rate is
(b)
the value of price elasticity is between
(a)
is proper grammar,
(b)
(d)
If
(a)
(c)
punctuation, and spelling
(a)
(c)
Bad
Governance
are short and often

(b) Formal
the
If the value of price elasticity is equal to -1.,

(a) Demand
(c) Total revenue
Sustainability
17. E-mail messages

(a) Informal
(b)
is one of

change does not change
26.
Meeting the needs of the present without

compromising the ability of future
generations to meet their own needs is called
(a) Soldiering
(b) Satisfying
(c)
(d)
24. The _
news message
most difficult to write
receivable will
in cash and a _
in

rate of unemployment
rate of employment
rate of cyclical unemployment
rate of structural unemployment
22. As an author, when bne thinks that
31.
is the most liquid of all assets

(a) Cash
(b) Human resource
(c) Transportdepaftment
(d) Machines
As an author, when one thinks that
32.
The process of measuring and evaluating the

results of marketing strategies and plans and
the
annroach
(a) Direct
(b) Indirect
23.
the
(a) True
(b)
False
taking corrective action
to
objectives are achieved is called

(a) Marketing rerum
(b) Marketing control
ensure that
119
(c)
(d)

33.
set of interrelated and interdependent

parts arranged in a manner that produce a
unified whole is called
Open system
Process
that
Open system
Process
Methods of depieciation that write off the

cost of a capital asset, faster than under
straight line depreciation is called
(a) Accelerated depreciittion

(b) System
(d) Operation
are not influenced by or d o not

environment is called a
their
interact with
Systems
(a)
(c)
35.
40
.(a)
(c)
34.
Market evaluation
Market correction
(b)
(d)
41.
assets depreciated book value at the beginning
Closed system
OPeration
of the year of which the depneciation charge

applies is called
(a) Declining balance depreciation
Systems that dynamically interact with their
(a) Open system (b)

(c) Operation '
(d) Process
1
al
lS
36.
Closed system
An approach that says that organizations are

different and face different situations and
require different ways of managing is called
(a) AnthropologY
(b) Contingency PersPectives
(c) System persPective
(d) Systematic persPective
37.
business
form that provides
42.
43.
et
(a)
(b)
(c)
(d)
ill
in
it
44.
PartnershiP
39. A method of depreciation that
and
that
tal
Declining balance depreciation
45
Bonus
All institutions and procedure for bringing

buyers and sellers of financial instruments
The market for short term (less than one year

original maturity) government and corporate
debt securities, it also includes government
securities originally issued with maturities of
more than one year but that now have a year
or less until maturitY is called
(a) Primary Market (b) Money market
(c)
46.
allocates
expenses evenly over the depreciable
the
The amount by which the proceeds form the

sale of a capital asset exceeds ( is less than )
(a) Money Market (b) Prirnary Mtirket

(c) Financial markets (d) Secondary Market
financial reporting pur1rcsed, tax purposes,

or both is called
(a) Salvage Value
(b) Interest
(c) Earnings after tax
(d) DePreciation
(c) AccelerateddePreciation
Cash gain
Bonus
together is called
SoleproPrietorshiP
Limited liability company (LLC)
Public Unlisted ComPanY
the asset is called

(b) Straight line dePreciation
(b)
tax (d)
(a) Capitalgain (loss) (b)

(c) Earning After Tax
(d) Cash gain
owners

dividend
Cash
Earnings after
the asset's original cost is called
and the federal tax
personal liability
Cash distribution of earnings to stockholders,

usually on a quarterly basis is called
(a)
(c)
(called members) with corporate style limited
3r
Methods of depreciation calling for an annual

charge based on a fixed percentage of the
life of
47.
Secondary market
Shout: WhisPer::
(d) FinancialMarket
Run:
(b) Stand
(a) Stay
(d) Walk
(c) Hop
Which one of the five mahes the best
is
comparison? Son is to mother as nephew
to:
(a)MOthCr
(c)Daughter
(b)Aunt
(d)Ncphcw
120
trf you rearrange the letters
48
"ANICH" you
59,
Often the opening determines whether
would have the name of a/an:
reader
(a) Country
(c) State
(a) Continues reading

(b) Puts the rnessage aside for
(c) Discard
(b)Ocean
(d)City
49. WoLF is10 FLOW as 8526istO:
(a)2856
(1))6258
(c)5862
(d)5682
50.
51.
Sensitive
Rope
The antonyrn of ,Vogue, is:

(a) Curent fashion (b) Inflammation
(c) Ola fashion (d) Dress
Fashion
Nestle means:
(a) Cold and hot
(b) Settle comfortably and warmly
affects
(a)
64.
True
(b)False

to persons outside the firm is the
(a)
(c)
Business letter
(b)Email
Pager
(d)Sms
65. The perceived fairness of what the person
72,
73`
(b) Equality
(d) Fairness
74
66. Following theory that
states that individuals

their behaviors on their
behavior is more likely to Iead to needed or
base decisions about
but
does
reyenue collected because of issue

by governnrent is known as
not affect
75
performance are
of
money
Often the
aside for later study or discard

68. _considers individuals, expectations that

high performance actually will lead to
rewards

(b) Effort-performance
"^p..tuiiom
inflarion (U) Hyp*r,flatlon
(b) Closing
desired outcomeb
(b) N{aslow Theory of Hierarchy of Needs
(c) Herzberg Theory
(d) Equiry Theory

beliefs that working harder will iead to
Seingniorage
(a) Opening
:`L a
person.
58.
One agrees /o a plan and agrees
(a) Equity
(c) Jusrice

(b) Utility, steady srate vhlue
Cause of
--
Deem

is called
i\{oney can best be defined as

(a) Store of value
(b) Unit of account
(a)
(c)
The formal word for the word expect is

(a) Anticipate
(b) Ascertain
messages
The Synonym of Vogue is
Money
63.
70
(b) Closing
(c) Conflagration (rI)
(d)Puzzling
57.
Pleasant
62.
Opening

56.
(b)
'fhe synonym of knotty is:

(a) Crossed
(b)Twisted
(c) Utiliry producrs

(d) Large quantity
(e) Feeling ofjoy
55.
opening sentence"
"
e.er attTi:t l

(a)
(a) Curent fashion (b) Inflammation

(c) Dress
(d) Fashion
(e) Old Fashion
54.
69
later study
(a) Strong
(b) hnpressive
(c) Arnusingly simple (d) private
(e) Insinceri:
(e)
53
(a)LTitating
The synonym of Naive is:
(c)
(e)
52.
60. Avoid a(n) --.-
the
121
79.
Expectahcy linkage
Psychological Contract
69.
refers to how valuable the rervards are

to the employee
(a) Output of the organization
(b) Psychological Satisfaction

(c) Value of Rewards
(d) Performance of the Employee
70
80. A firm has a fixed cost of Rs. 25000
work relationships is called
71.
(a) Y=2500+85X (b) Y=2500+85X

(c) Y=2500-85X (d) Y=25000+85X
81. Consider the supply function and
(c)Qualtilcs
(b)
(d)
accordingly,
Supply: Q=-50+6P
Demand:Q=230-8P
Mean
Percentiles
What is the equilibriurn price
(c)30
ranked data into 100 equal subsets is called
83.
75
The position a particular value of x has

relative to the mean, measured in standard
deviations is called
(a) Standard scorg or z-score

(b) Standard deviation
(c) Percentile (d) Quartiles
The mean of the data set which consists of
the five values 6,,813161 9 and 4 is
(b)6
(a)4
(d)10
(c)8
)S'
to
78
(b)4
(d)6
The mOde ofthe data set O,0,0,3,4,2,3,2,5 is
(a)0
(c)4
(b)2
(d)5
Revenue + Cost
The process whereby an individual or a

group of individuals uses organized efforts
and means to pursue opportunities to creatc
value and grow by fulfilling wants and needs
through innovation and uniqueness, no
matter what .resources are currently
controlled is called
(a) EntrepreneurshiP
(b) Intra preneurshiP
(c) Management
(d) kadership
77. The rnedian ofthe data Set 6,5,4,3,2 is
(a)3
(c)5
=_
(a) Revenue - Cost (b)

(c) Break even point
85
demand
lte
Profit
(a) Inter quartile range (b) Quartiles

(c) Percentiles (d) Mid quartiles
elr
For Question 81, the equilibrium

quantity will be
(a)60
(c)80
The difference between the first and third
(a)60
(c)80
quartiles is called
als
Or
quantity will be
74.
The numerical value midway between the

first quartile and the third quartile is called
(a) Inter quartiles (b) Mid quartile
(d) Mid range
(c) Percentile
82. For QueStiOn 81, the equilibriunl supply
yes
(b) Quartiles
(d) Inter quartile
73.
Percentiles
1011
Range
(b)20
(d)40
(a) 10
72. Values of the variable that divide a set of

(a)
(c)
demand
function respectively as follows and ansrver
Values of the variables that divide he ranked

data into quarters is called
(a)Iid rangc
and
variable costs per item manufactured is Rs.

85. The firm's total cost as a function of
output will be
The unwritten expectations employees and

employers have about the nature of their
(a) Psychological contract
(c) Expected Relation (d) Workplace Relation
An vegetable orchard charges Rs. 25 to enler

x of apples picked can be writtcn as
(a) C(x) = 0.60x + 0.25
(b) C(x) = 60x + 25
(c) C(x) = 6x + 2.5 (d) C(x) = 60x - 25
86.
A comprehensive term describing the way an

organization does 'its work by using
eleitronics linkages with its key constituencies
in order to efficiently and effectively achieve
its goals is called
(a) E-business
(c) Intranet
(b)Intel nct
(d)FILlid business
122
87.
An internal organizational comrnunication

system that uses internet technolory and is
accessible only by organizational employees
93. David ranks seventh lrorn the top and

from the bottom in a class. How
students are there in the class?
(a) Internet
(b) Fluid organizations
(c) Intranet
88
(a)36
(b)35
(c)34
A philosophy of management that is driven

by customer needs and expectations and
focuses on continual improvement
in work
processes is called
(a) Total quality managemenr
(b) Six sigma
(c) Knowledge management
(d) Project management
89.
Select the following rvhich is dift'ered fromr

other with respect to alphtrhets
(a)E8g
(C)Mothcr
95.
Cultivating learning culture in which

organizational members systematically gather
knowledge and share it with others in the
organizations to achieve better performance is
(a) Great
(c) Tear:s
(e) Later

A recognition of an inner life that nourishes

takes place in the context o[ community is
called
(a) Workplace diversiry
(c) Psychologicalcontract
(d) Wortplace spirituality

represents the price of goods sold and
period
(a) Profit
(b) Revenue
(c)
Expenses
(d) Net income
96.
(b) Tleat
(d) Table

from the others
(a) Reap
(c) Tore
(e) Pear
97.
(b)Rare
(d)Teal
(a)Attcct e
(C)V
98
(b)Acne
(d)Giddy

from the others
organization that has developed the

capacity to continuously learn, adapt, and
called
(b) I-earning management
92.
94.
An
change is called
(a) karning organization
(b) Fluid organization
(c) Virtual organization
(d) Joint venture
90
(d)CannOt be dctermincd
(e)Nonc ofthe abOve
(b) Noun
(d) Conjunction
A_____ haS three degrees fOr comparisOn.
(a) Adjective
(c) Verb
(b) Noun
(d) Conjunction
99. Mr. Nusrat
Fateh Ali Khan is more famous

many others.
(a)Than
(b)Thcn
(c)Farthcr
(d)Furthcr
100.IIis car his bettcr_____
in town.
(a)
(c)
Then
Best
many other cars
(b)Than
(d)Chcap
28th
ANSWERS
lany
1.
8.
15
22.
36
10.
16.
17.
23.
24.
30.
37.
12.
13.
14.
19.
20.
21.
25.
26
27.
28.
tl
31
32
34
35.
38.
39.
b
b
d
33.
42.
46
52.
53.
59
47.
54
b
b
48.
62.
55
49.
56.
63.
60
67.
68.
69.
70.
75
76.
77.
83.
84.
66.
73
74.
79.
80
81.
,82.
86
87.
88.
89
94.
40
`5.
72.
7.
45
100.
18.
6.
11.
93.
95
96
90.
C
97
5.
4.
99.
78.
92.
58.
57.
85
50
71
3.
44.
43.
64.
29.
b
d
2.
98.
d
a
124
15
SnUPLE Tesr
1.
The system by rvhich corporations are managed

and controlled, it encompasses the relationships
among a companyrs shareholders, board of
7.
bcst
8.
directors and senior management

dcscribed by
(a) Rules and Regulations
(b) Corporate governance
(c) Standard Operating procedures
(d) Board of Governance
2.
4.
(a) Inflation
Decrease in the general level of prices in the

(a) Inflation
measures the
responsiveness of the quantity supplied to a
Change
partnership all partners have unlimitecl

liability for the debts of the firm; in a limited
partnership one or more partners may have
limited liability is called
(a) Partnership
(b) Limited parrner
(c) Public Lisred
(d) General partnership
(c)Demand
An
)PHce
ll. A
12.
13.
the
quantities of
that
19.
None of the above
The desire within a person causing that
person to act is called
A. Internal Motivation
B. Motivation
C. SelfMotivation
D. IntrinsicMotivation
E. All of the Above
allows
(a) Intranet
(b) External Linked Inrernet
(c) Extranet
specifies
Individual performance factors are

(a) Ability, effort, Support
(b) Effort, Support, Ability
(c) Support, Abiliry, Effoft
(d)
System
Web
Connection
external entities is called
(a) Market basket

(b) Supply funcrion
(c) Demand function
organizational network that operates
internet-linked network
18.
_____
-
over thc internet is called

(a) OrganizationalWeb
An
(b) Supply
different goods
(b) Custom Made

(c) Web Network
(d) Intranet
17.

10. The price elasticity of supply
form in which two or rnore

individuals act as owners. In a general

excess aggregate
demand in the economy

(a) Deniand Pull Inflation
(b) Demand Pull Deflation
(c)
(d)
16.
(b)Dcnation
is the result of
9.
(b) partnership
(d) public Uniisted
(a) Integrated HR Sysrem

(b) Human Resource Information
(c) MIS
(d) HR Decision Making Sysrem
6.
(b)Deflation
Business
called
5.
Increase in the general level of prices in flre

A business form for which there is one

owner. This single owner has unlimited
liability for all debts of the firm. Such type of
business is called
(c) Private Lirnited
3.
is
- Vll
14.
(a)A and B
(b)B alld C
(C)C and d
(d)Only E
Member of a limited partnership not

personally liable for the debts of the
(a) Limitea parrner (b) partnership

(c) Sole propnetorship (d) public listed
20
15. The two
categories of stockholders, equity

usually found on the balance sheet of a
corporation are
(a) Contributed capital and long-term
(c) Supply penetration

(d) Value delivery network
22.
liabilities.
(b) Contributed capital
(c)
(d)
he
he
called
equipment.
Retained eamings and notes payable.
Contributed capital and retained earnings.
(a) Marketing vision (b) Markering

(c) Marketing vision
(d) Market segmentarion
23.
Market
Market
Market
Market
require separate products

programs is called
modified or new products to current market
18.
Of
Market development
Innovation
24.
'
Productdevelopment
strategy for company growth through

starting up or acquiring businesses outside
the company's current products and markets
(a)
(b)
(c)
(d)
25
business portfolio
26.
by
company's overall strategy is called

(a) Firing
(b) Downsizing
(c) Diversification (d) Development
'20. The series of departments

that carry out
value-creating activities to design, produce,
market, deliver, and support a firm,s
(a) Positioning (b) Marker segmenr

(c) Differentiation (d) Diversity
The process of evaluating each market
27.
Actually differentiating the market offering t

create superior custonrer value is called
(a) Integration
(c) Positioning
28
(b) Differentiation
(d) Market position
of controllable tactical marketing

product, price, place, and pronrotion that the firm blends to product the response it
wants in the targct markets is called
The set
tools
(a) Value chain

(b) Supply chain
(c) Supply segmenrarion
(d) Downsizing
,21. The network made up of the company,
suppliers, distributors, a4d, ultimately,
customers who partner with each other to
iniprove the 'performance of the entire
Arranging for a product to occupy a clear,

distinctive, and desirable place relativc to
competing products in the minds of target
(a) Positioning (b) Differenriarion

(c) Segmentation (d) Integration
products is called
system is best described by

(a) Supply chain
(b) Supply straregy
A group of consumers who respond in a

similar way to a given set of marketing
consumers is called
eliminating products of business units that

are not profitable or that no Ionger fit the
lat
behaviors
(d) Differentiation
Vertical inregrarion
Horizontal integration
Backward inregrarion
the
marketiug
segment's attractiveness and selecting one o

more segments to enter is called
(a) Positioning
(b) Market targeting
Diversification
19. Reducing
needs,
efforts is called
Diversification
si called
'
or
(a) Marketing vision (b) Market

(d) Market product programs
grid
segments is called
(a)
(b)
(c)
(d)
Dividing a market into distinct groups of

characteristics, or behaviors, and who might
penerrarion
development
segmentation
17, A strategy for company growth by offering
he
tA
straregy
buyers who have different
current company products is called
(a)
(b)
(c)
(d)
and
achieve profitable customer relationships is
and property, plant, and
16. A strategy for company growth by identifying

and developing new market segments for
The marketing logic by which flre business
unit hopes to create customer value
(a) Marketing mix (b) Ma*et control

(c) Market implementation
(d) Positioning
29.
The process that turns marketing strategies

and plans into marketing actions in order to
accomplish strategic marketing ob,iectives is
called
(a) Market inrplemenl.ation

(b) Market actions
39.
organizational levels, in all organi

areas and in organization in all
around the globe is called
called
(a) Generalparrnership
(b) Corporation
(c) Sole proprietorship (d) public unlisted
(c)
32.
Public
Company (d)
Accounts
payment
(a)
33.
(b)
Receivable
Account
34.
(b)
42.
Following are basic part(s) of an account_

(c) Right side (credit side)
37.
(b) Credit
balance
43.
38.
deliberate arrangement
(d) kaders
44.
of
people to
(a) Organization (b) Irading

(c) Controlling
(d) Delegating
49.
50
theorists
Fundamental rules of management that

could be taught in schools and applied in all
53.
organizational situations is called
(a) Principles of management

(b) Bureaucracy
(c) Adminisrrations
(d) Workforce diversity
45.
accomplish some specific purpose is called
Writers who developed general theories of

what mangers do and what constitutes good
management practice are known as
(a) Principles of managemenr
(b) Administrative
(c) General administrative
On the statement of cash flows, a company

cash used in
(a) Opemting activities
(b) Financing acriviries


(d) Work break down
The
-arnounts of debit and credit entries be made
for every business transaction.
(a) Double
(c) Credit cash
48.
The use of the scientirlc nlethOd tO deternine
the "one best way,, for a job to be done i
(d) A&c
3`.
The revolution which involyes flre advent

machine power, mass production and effici
transportation is called
called
(a) Scientific management

35.
(r
(a) Scientific revolution

(b) Interdisciplinary revolution
(c) Industrial revolution
(d) Entropy
payable
in the
narrow
41.
Payable
On a balance shect, assets are listed

order of
(a) Dollar amounr (largest first)
(r

(d) General management
,are assets that will shortly
Receivable
(r

(a) Work break down
convert into cash.
(a)
40. The breakdown of jobs into
partnership
is a liability that requires
at
(b) General management

(c) Total management
business form legally separate from its

owners. It s distinguishing features include
unlimited life, and an ability to raise large
sums of capital is called
The reality that managernent is needed in
types and sizcs of organization,
30. Member of a partnership with unlimited

liability for the debts of the partnership is
Market strategy
Marketing objectives
organization characterized by
{diyision
-f9.-ofoflabor,
a clearly defined hierarchy,
detailed rules and regulations and
impersonal relationships is called
(a) Bureaucracy (b) Nationalism

(c) Pnvacy
(d) Hypocrisy
54.
55
127
46
47.
48.
tof
The use of quantitative techniques
49.
57. If y= 3o00000-450000x ,for tax purpose

(behavior) of people at work is called
the value y of a cornputer after x years.Vhat
(a) Psychology
(b) Organizational behavior
(c) Research
(d) Bureaucracy
years?
will be the value of the computer after 3
58. For the equation in Question 57 above,
Hawthorne studies
Maslow hierarclty of needs
59
(a) Random sample (b) Cluster sample

(c) Stratified sample (d) Ordered sample
Consider the equation 56x + 7y =91, what is

60
(b)-8
(d) 7
(a)
(c)
61.
(d) 14
consider the equation 16y

intercept in the given equation
62.
are
63.
(a)
None
(b)0,0
(C)
1,0
(d)0,1
by
(b)15000
(d)17000
55. A firm has a'fixed cost of Rs. 7000 and
product. What is the total cost of product 30
64.
(a)14000
(c) 16000
and
units?
(c) 19500
(b)18500
(d)20500
(b) Dotplot display

(d) Cluster diagram
65
(d)Standard deviation
is the value that occurs most

The
(b) Median
(a) Mean
(d) Variance
(c) Mode
The number exactly midway between

(a) Mean
(c) Variance
(b) 4idrangc
(d)MOdC
(a)17500

(c) Mode
units?
chy,
diagram (d) Sample diagram

order according to size is called
(a) Mean
(b)Median
54. A firm has a fixed cost of Rs. 7000 and

product. What is the total cost of product 15
Random
a scale is called
(a) Pareto diagram
(c) Sample diagram
(b)1
(a)0
(d)Does not cxist
(c)2
y,
x
53. For the equation = the x and y intercepts
l all
diagram (b) Pareto diagram

diagram (d) Dotplot diagram

(c)
= 176' The x
is-
Ordered
Random
the frequcncy of cach value of the variable is

called
(a) Pareto diagram (b) Distribution
Consider the equation 16y = 1.76. The slope

(b)12

the most numerous category to the least
numerous category is called
(b)14
(d)16
(c) 13
A sample obtained by sampling some of but

not all of, the possible subdivisions within a
Industrial revolution
(a)11
(b)750000
(d)950000
(a)650000
(c)850000
Scientific management
(a) 13
(c) 15
what
of
studies during the L920s and

provided new insights in
that
1930s
individual and group behavior is called
series
(b)1750000
(d)1950000
(a) 1650000
(c) 1850000
QueStiOn 13 is
that
each unit
(b)8000
(d)10000
(a)7000
(C)9000
50. The value of the intercept in the equation in
52.
of Rs. 600. for
product. What is the fixed cost?
(a)8
(c)7
e ls
A firm has a fixed cost of Rs. 7000 and

variable cost

llne
56.

(c) Research
(d) Hawthome studies
(a)
(b)
(c)
(d)
ient
to
improve decision making is called
128
66. The difference in value between the highest
value aud the Iowest yalued pieces of data is
called
(a) Mid range

(c) Mean
(b)Range
80. The pOlice
68.
69.
(b)
(d)
Mean
Percentiles

(a) Economic value added

(b) Utility Analysis'
(c) Profit
(d) Return
70.
81.
84.
86
73.
She has becn
(a)
74.
75.
For
He said he
-(a) Owns
(c) Owned
76.
He
will
(a)Givc
(C)Takc
77.
here
a long,time
Since
(a)Chair
87.
(d)Simplc
This is the
_.--
88.
building.
(b)Taller
(d)Slllallcr
said
Farther
(b) Further
(d)Neither
Clorida is taller than Ivory. Ernily is taller
(a) Clorida is taller than Enarnol ancl Lovely

(b) No further infbrmation is neecterl
(c) Emily is raller Ivory
(d) Clorida is taller than Lrlvely
(e) Enamol is taller than Clorida
Four of the. following five are similar in
(a)
Umbrella
(b)
Gloves
(d)Sh()es
(C)Shirt
(e)Cap
There are 26 steps in a Churcho ln the tinle
Sandy cOmes dOwn twO steps,PlatO goes One
of the law.
step. If they start silnultaneOusly and keep

their speed uniform,then at which step from
(b)Eyes
(d)Books
bottOm will they nleet.
his exams.
(a)9
(b) Give care

(d) Take care

of them does not belong to the group?
89.
Chairs
She
96.
determine who among them is the tallest,

lvhich of the following further information, if
any, is required?
(b) Own
_-
95.
than Lovely. Lovely is taller than Enamol. To
a house.
(b)
(b)Chcap
(c)RebelliOn
(c)Either
Since
The synonym of ,,to vanquish,, is

(b) To conquer
(a)To harm
(C)To vary
(d) To be ungreatful
78. All his
(a)Untruthflll
(a)
afternoon.
(b)
He is not criminal in the
(a)Eyc
(C)Book
.-
(b)
94.
(C)Tall
(b) Further
(d) Neither
For
;l;Fes______avett,1
Unprising is c10sest tO
85.
(a)
93.
(b)Too
tliCkground.
(C)With
She is____thiS COn nlittee.
(a)On
(b)In
83.
(a) Utility analysis (b) Economic Analysis

(c) Statistical Analysis
(d) Cost and Benefit Analysis
72.
(b)Is
(a)Very
ItrR activities is called
(a) Farher
(c) Either
not corrupt.
She is_____ happy today.
(a)Tallest
Analysis l,.r which economic or other

statistical modcls are built to identify the
costs and henefits associated with specific
71. she said
--
82.
Values of the variables that divide he ranked

data into quarters is called
(a) Mid range

(c) Quartiles
tugh.
(b)IS
(a)Are
deviations from the mean is called
(a) Mid range

(b) Mean absolure deviation
(c) Range
(d)Mode
wages
(a)Arc
(d)NIIode
The mean of the absolute values of the
67.
79. Our
(b)121h
(c) 13dl
(d)8tll
(e)NOne Ofthc abovc
90
ln
certain
cOde
Language
the
wOrds
ROUTINE is written as vpIRGFLI.HOw

wili the wOrd cRUELTY be written in that
code languagel
(a)VOCVZRL
(C)VPCVZRL
(b) /PCVZRL
(d)vPVCZRL
(e)None ofthe abOve
97.
129
91.
.92.
(d) Stop your vehicle and say somy

We have not gone there _

a long time
(a) For
(b) Since
She has been
(a)
For
here
He said he
(a)
(c)
98. Generally a patient
afternoon.
(b)
of tuberculosis visits the

(a) They are advised by the Physicians to do
Since
a house.
sc)
(b) Own
Owns
Owned
(b) It is pleasure to enioy the environment

(c) Atmospheric pressure decreases with
94.
Eye
Book
He will
(a)
(c)
95.
st,
if
(e)
(b) Give care

(d) Take care
97.
(a)
(b)
(c)
(d)

100.
will be
(b)
(c)
to what extent
your
(c)
fbr the injury and try to

dispose the matter
Try to run away fionr the spot immediately
medical aid
(d) Rush to the fire brigade sration and inlorm

the otficials about tlre fire
(c) None of the above
10
11
22
29
36
43
50
57
16
23
30
18
25
32
b
b
12
19
26
33
37
44
38
40
13
20
27
34
41
45
52
59
66
48
47
54
61
68
75
82
89
96
58
64
71
78
85
92
99
65
72
79
86
93
100
17
24
b
b
73
a
b
a
80
87
94
39
46
53
60
b
b
67
74
88
95
b
b
b
d
b
b
C
14
21
28
35
42
d
d
a
49
56
63
70
55
62
b
a
69
76
83
90
97
77
a
84
I
8
15
rt
Rush out of the room with buckets ol:water

ANSWERS

people shouting "hre". Which of the
(b) Continue to sleep till yolr are callecl for
Pay compensation
ls
It is spongy
It is trans parenr
It is an element which tnelts easily
Its weight is less than'the weight of warer
of equal volume

responsibility?
(a)
patienrs
While riding on a scooter, you find

someone has been hurt by your scooter.
Which of . the following
for the
the
99. . Ice floats on water because

(b) She rnust have an imposing personality
(c) She must be highly edr:cated
(d) She must be an efticient stenographer
(e) None of tlre above
er
Io
(d)
his exams.
(a) Give
(c) Take
96.
(b) Eyes
(d) Books

Cold weather is favoiable
of tuberculosis
None of the above
98
C
1
130
17.
SavIPLE TEsT
l.
term
means the cost of the goods
and services used yup or consume dint he
(a) Profit
(b)Expcnses
(c) Net income
(d)Debit
What are the categories of cash flows that
(a) Cash flows from investing, financing,
service activities
(b) Cash flows from operating. production,
internal activities
(c) Cash f'lows from financing, production,
growth activities
(d) Cash flows from operating, investing,
3.
(d)
The
process of obtaining reyenues
8.
9,
10
12.
13.
balance sheet
income statement
notes to the financial statements
headings to the financial statements
What finanbial statement would you look at
(a)
7.
True
Foible is:
(a) A defect of characrer
(b) Musical instrument

(c) A review of constitution
(d)Dress
21.
Typical business cycle has the following,


15
22.
23.
16
24.

called as
(a) Natural
-- rate of
(b) Natural rate of
(c) Natural rate of
(d) Natural rate of
sheet
(b)False
(b)01d fashiOn
14.
to determine the total expenses of a business?

(b) Statement of retained eamings
Not all cash payments.represent expense
1la 9tput_Wth ndsy peOple.

(a)0
(b)On
(C)Up
(d)Out
(c) Cyclical unemploymenr
6.
20.
(d)OVer
(a) Recession, trough, peak, recovery

(b) Peak, recession, trough, recovery
(c) Trough, peak, recession, recovery
If you wanted to know what accounting rules

(d) Balance
(b)On
the
the
5.
smoking when he was quite
pattern.
(d) An increase in net income
The
The
The
The
(d)On
the
(c) The amount of rent used up (incurred) in
(a)
(b)
(c)
(d)
took
the river.
(b)Inside
(e)Fashion
end of the period
4.
He
llo Current fashion

(a)InflammatiOn
current period
current period less any unpaid rent at
(a)Up
(C)To
A man jumped
(C)Vogue
income statement is
(a) The amounr of cash paid for rent in
Speedy communicarion
young
and
and
18.
(a) In
(C) IntQ
and
and
- VIII
unemployment
employment
cyclical unemployment
structunrl unemployment
unemployment always has a _
(a) Economic cost (b) Economic profit

(c) Economic stability
(d) Economic advantage
25
26.
27.
17, Increase in the general level of
prices in the
28. Telegrarns, cablegrams and
save_
(a) Inflation
18.
19
(a) Money
(c) A&b
(b) Deflation

(a) Inflation
(b) Deflation
GNP stands for
(a) Great National
(b) Gross National
(c) Gross National
(d) Great National
evaluating one's job experience is called
(a) Psychological Contract

(c) Job Satisfaction
30.
(a)
(b)
(c)
(d)
21.
(b) Organizational Commitment

(c) Organizational behaviour
(d) Organizational work ethics
Business Cycle
Business Loop
Product Life Cycle
Product Life Loop
31.
Typical business cycle has the following

(a) Recession, trough, peak, recqvery
(a) AandB
(c) CandD
(e) B andD
is the result of lnsufficient aggregate

23.

messages to persops outside the firm is the
Business letter
Pager
(b)

within a
message
(b) Country
(a) AandB
(c) CandD
(e) B andD
34.
(b) B and C
(d) A and C
Which of the following approaches are used

controlling absenteeism approaches
(a) Disciplinary approach
(b) Positive reinforcement & Combination
as
False
26. Telegrams can send a message within

(a) Province
(b) Country
(c) Continent
(a) Province
(c) Oversees
33.
(b) B and C
(d) AandC
signature area, reference section
(a) AandB
(c) CandD
(e) B andD
(b) Email
(d) Sms
25. Most business letters have seven standard

parts which are heading, inside address,
salutation, body, complimentary close,
(a) True
Avoidable absenteeism is called
D. Expected Abscnteeism
is the result of changes in technologr.
(a)
(c)
n.
32.
(b) B andC
(d) A and C

(c) Cyclicalunemployment
24.
Following are different types of absenteeism

A. VoluntaryAbsenteeism
pattern.
22.
The degree to which employees believe in

and accept organizational goals and desire to
remain with the organization is called
(a) Organizational loyalty
means alternating periods of
20
(b) Time
29. A positive emotional state resulting from
Production
Product
Price
Price
radiograms
approach
(C)
"No fault" absenteeism & Paid Time-off

prograrns
(d)
All of the above
35.
Consider the supply functiOn and demand
The median of the data set of 6,5,4,3,2,0 is
36.
(a) 3.5
(b)3
(c)4
(d)4.5
functiOn respectively as f01lows and answer

accordingly,
Supply: P=3Q+10
(a)0
(c)2
37.
(b)1
(d)None
46. What is the equilibriunl price?
(a)60
(c)80
The midrange of the data set 3,3,5,6,8 is

(a)5
(b)5.5
(c)6
(d)6.5
(a)10
(c)30
(b)6
(d)8
(a)4
(c)6
quantity wiu be
(a)10
(c)30
40.
consist of the values of two different

variable that are obtained from the same
49. F
'
50
(a) Money Market (b) Capital market

(c) Secondary market (d) Financial Market
A market where new securities
43. For the equations in euestion 42 above, the

G)
(d)
53. A market for existing (used) securities

than new issue is called
40
60
(b)5 or 10
(c)4 or ll
(d)5 orll
(a)
(C)

(c) Money market (d) Secondary
54.
Financial institutions that accept

from savers and use those funds to
loans and other financial investments in
own name are best come under the
of
(a) Banks
(a) 4 or 10
Al
55
(c)
(d)
Investment
Companies
,'
financial institution that
unde
GovernmentOrganizations
(purchases at a fixed price on a fixed
(a)
(b)
Investment banker
Government Organizations
44. Consider Revenue, R(x) - -3x2 + 4gx and

C(x) = 6x + 120, then the profit function
will be
(a) Profit =-3x2 + 42x+ 120
(b) profit =-3xz + 54x+ 120
(c) profit = -3 x2 + 4Zx _ l2O
(d) Profit =-3xz + 54x- IZO
45. For the equations in euestion 44 above, the
are
and sold for the first time is called
(c) Money market (d) Primary market
52.
Bonds and stocks are example of

(c) Money market (d) Capital marker
51.
cost,
The market for relatively long term ( greater

than one year original maturity) financial
= 80x, total
11
instruments is called
diagram
C(x) - 30x + 2000, then the profit equation

will be
(a) Profit = 50x
(b) Profit = 2000
(c) Profit = 50 - 2000x
(d) profit 50x - 2000
{:}::
diagram (d) Random
42. For Revenue, R(x)
(a) 30
(c) so
1
1
n 46, the equilibrium quantil
l:}::
Random data
Unbiased data
data on a coordinate axis system is called

(a) Paretodiagram (b) Scarterdiagram
Cluster
(b)20
(d)40
(b)
(d)
41. A plot of all the ordered pairs of bivariate

(c)
:ueSti
population element.
(b)20
(d)40
48. Fo QueStiOn 46, the equilibrium demahol
(b)5
(d)7
(a) Bivariate dara

(c) Biased data
57.
quantity will be____.
The range Ofthe data set O,1,2,3,4,5,6 is
39
(b)70
(d)9o
47. For QueStiOn 46, the equilibrium supply
38. The range ofthe data set 3,3,5,6,8 is
(a)5
(c)7
56.
Demand:P-1/2Q+80
The mode of the data set 0,4,5,6,7,1.,3 is
133
lnd
er
56
ply
57.
tity
Investment Companies
Mortgage Institute
(c) Understatement of
and an
The
indicates that expenses should be

recognized in the period(s) that the
expenditure helps to produce revenue.
(a) Matching principle
equity
(d) Understatement of
62.
The net return from a marketing investment
divided
Aafaaq Corporation reported the foltowing

operations, Decemtrer 31, 2010: contributed
capital $50,000; sales revenue g200,000; total
assets $150,000; 910,000 dividends; and totat
liabilities $80,000. Retained earnings and
(a) Retained earnings $20,000 and cxpenses
investment is best described by

(a) Return on marketing investmenr
(b)
$170,000
Rctaincd carnings s30,000 and expenses
$160,00o :
(C)
Rctaincd cahings,70,000
(d)
63.
Retaincd camings $80,000 and expenses
64.

in interstate commerce is
(b) Microenvironmenr
(c) External environment
the
(b)FTC
(d)APB
(d) Internal environment
59. An examination of the financial statements of
65
forces is called
(a) Micro environment
(c) Extemal environment
(d) Macro environment
called
(b)An audit
(d)A validatiOn
One of the disadvantages of a corporation

when compared to a partnership is
(a)
G)
(c)
tliat
66.
The srockholders have limited liability
The stockholders are treated as a separate

legal entity from the corporation
The corporation and its stockholders are
for
the
business's transactions separate and apart

Failure
to
ites
make an adjusting entry to

recognizb accrued income tax-es payable
ate)
would cause an
(a) Understatement of expenses, liabilities and

(b)
Overstatement of expenses and Iiabilities
Firms that help the company to promote,

sell, and distribute its goods to finals buyers
are called
(a) Marketing intermediaries
(b) Distributors
(c) Whole sellers
(d) Public
The larger societal forces that affect the
microenvironment-demographic, economic,
natural, technological, political, and cultural

(a) A certification
(c) A verification
The actors close to the company that affect

customers - the
company,
suppliers,
marketing
intermediaries, customer
markets,
competitors, and publics is called
(a) Macro environment
its ability to serve its
The government regulatory agency that has
(a)FASB
(C)SEC
The actors and forces outside marheting hat

3ffgct marketing managements ability to
build and maintain successful relationships
with target customers is best described by

(b) Marketing environment
(c) Microenvironment
(d) Macroenvironment
and expenses
$110,000
by the costs of the marketing
(b) Profit
(c) Loss
(d) Demand
sell their securities
her
assets and stockholders,
equity
ght
of
(b) Double entry sysrem
$120,00o
58
expenses and liabilities

stockholders'
overstatement
67.
Any group that has an actual or potential

interest in or impact on an organizationrs
ability to achieye its objectives is called
(a) Distributors
(b) Public
(c) Whole sellers
134
68. The study of human populatlon ln terms of

size, density, locationr Bgr gender, race,

occupation, and other statistics is called
(a) Human measurement
(b) Human resource
76.
'that
managers
are
directly
responsible for an organization,s success or
failure is called
(c) Extemal management

(d) Environmental management
system
in which the key
74.
values are
81.
achievement
is
82.
Decrease
of any monetary
with inflation
without inflation
with deflation
lvithout deflation
88
Money can best be defined as

(a) Store of value
The number of
an
components
in
an
organization's knowledge about
its
environmental components is called

of
(b) Parochialism
an

(c) Generalenvironment
(a) General environment

organization's goals is called

(a) Intemalenvironment
75
excess aggregate
(b) Unit of account

The part of the environment that is directly
to the
(b)
83.

policies
(a) Stakeholders (b)

(c) Stockholders (d)
t
I

Increase
Keep stable
(a) Employment
(b) Employment
(c) Employment
(d) Employment
Outside institutions or'forces that potentially
relevant'
85.
supply side inflation

supply side deflation
demand side inflation
demand side deflation
policy is _
called
(c)' Specific environment

80. Fundamental objective
affect an organizationts performance
Cost push is rnostly the result of factors that
(a)
(c)
shared meaning within an

organization that determines, in large degree,
Cultures
,(
Cost push is also known as
(a)
(b)
(c)
(d)
of
intensely held and widely shared are called

73.
78.
79.
how employees act is called

(a) Organizational culture
(b) Psychological contract
(d) Spesific environment
72.
is the result of
(c)
(d)
The view that managers have only a timited

effect on substantive organizational outcomes
becarse of the large number of factors outside
their control is called
(a) Symbolic view of management
an

(a) Workplace culture

(c) Iradership
(d) Symbolic view of management
70
The degree of change and complexity in

organization's environment is called
77.
I
(
(a) External uncertainty

(b) Environmental uncertainty
(c) Internal certainty
(d) Environmental certainty
(c) Diversity
(d) Demography
69. The view
84.
Consumers
Employees
90
135
Interactlng ln speclfic ways with various

external stakeholders to gather and
mplexity
called
In l
91.
disseminate important information is called

(a) Boundary spanning
(b) Call center
(c)
Intemet
(d)
increased two fold. From 1970 to 2000, food
production
unit of output
called .'
(a) Parochialism


(d)
(e)
92.
(a) Some drivers may have worn helmets

were required to wear them beginning in
1985
(b) NO drivers had to wear helmets before 1985

(d) Two wheelers drivers had to wear helmets

prior to 1985

93.
abOut l
I
company
that
maintains

in the field. Dogs which also feed on mice are
immediate result?
(b) Decrease in the number of snakes' and
hawks

111
in 1985, all drivers had to wear

if they have to drive a two wheeler.
From which of the following can this
Starting
statement be properly inferred?
88. A world oriented view that focuses on using

,, ' he best approaches andI people from around
the globe is called
e extent
output decreased
The use of chemical fertilizers decreased
None of the above
helmets

87. The view that the managers in the host
, country know the best work approaches and
: practices for running their business is called
i (a) Geocentric attitude
i tUi Parochialism
(c) Ethnocenrric attitude
i, (d) Polycentric attitude
Se
hour
(a) Each of the following, if true, could help ro

Intraner

S.
per worker and per
increased one and a half times.
narrow view of the world; an inability to

Arecognize
differences between people is
i factOrs
From 1940 to 1970, the amount of food

(c) Decrease in the number of mice

sig cant
operatiOns in lnultiple countries but rnanages
l them from a base in the home country is

called
.(a)Multinational corporation(NINC)
(b)Transnational corpOration(TNC)
(C)Bordcrlcss company
l(d)Virtual cOmpany
94
Average family income
in the cities has
years, as in most families these dayr'

husbands and wives are working. Thls
sentences implles all the following except
(a) Family inconp level was lowgr few
years
8go
:A cOmpany that IIlalntainS sig cant
nini
1
l
G) Wives eam more than husbands today

lo61ntry is called
.
(a)Muldna ond Corporadon(NINC)
:.(b)Transnational corporadon(TNC)
(d) Virtual company
(e)
'

None of the above
136
95. Team sports like cricket, display socialist

tendencies in their requirements of
97.
individual suborclination to ihe authority

of
coaches and managers.

inferred from the above information?
ro
except.
(a) Better home care of teeth has reduced
the.
number of cavities
(b) Dentist fee have declined over the period
(c) Parents are more aware of the importance
of dental care
(d) Dental care has become less painful
be
(d) All team players are

subordinate to their
conches
96.
98.
in
l.f ,,,r. .ollegl hostel mess, you find that
the vcgetable curry being serveh for the
last
ten da1's is having a lot oi stones and you
are
t'ed up u ith it. What will you do?
(a) Btrr \our own veget;bles
and cook it in
yOUl"
-_- has three degrees for comparison.

Adjective (b) Noun
(C)Verb
(d) Conjunction
99, Mr. Nusrat Fateh Ali Khan is more famous

many others.
(a) Than
(c) Farther
altogether
Speak wilh cook to change the vegetible

Bring the matter to the notice of tf,e mess
in
and. if nothing is done by him, then
9h3r8e
(e)
(a)
t,r()m
kave consuming the vegetables
ln l970,the average child visited the dentist

once a year. By 1990 the number
of visits
increased to two. Today, the average
child
visits the dentist three times a year.
Each of
the following, if true, could explain this
trend
G)
100. His car his better
in town.
(a) Then
(c) Best
rntorm the hostel administration

None of the above
Then
(d) Further
------:(b)
(d)
many other cars
Than
Cheap
ANSWERS
b
2.
3.
9,
10
15.
22.
16.
23.
4.
18.
.E
24.
25
12
3.
19.
20
26
27.
33.
34.
40.
41.
d
b
b
31
32.
38.
39
45.
46.
47.
52.
53
_54
60
61
62.
69`
43
50.
44.
-51
57.
58.
59.
64.
65
66.
7L.
78.
67.
72.
68.
73.
74.
75.
80
82.
87.
81.
88.
89
94.
95.
96
85.
79.
86.
92.
93.
99.
100.
b
b
C
a
a
37.
28
35
42
49
56
30.
36
29.
7
14
21
17
I
8.
76.
83.
84
90.
9t
97.
98
!
a
137
Snnnplr Trsr
8.
securities in a short period of time in the

9.
The life of security the amount of time before
the principal amount
of
secuiity becomes
(a) Maturity
(b) Due date
(c) Interest Time
(d) Contract Termination Time
10
time or term to maturity is called

11.
12.
(d) Utility Curve
A rise in the average Ievel of prices of goods

and servicos is called
6.
Inflation
Deflation
(b) Interest
(d) Compounding
Money paid (earned) for the use of money is

called
(a)
(c)
7,
Interest
Deflation
(d)
Interest
Interest earned or paid on any previous

interest earned, as well as on the principal
borrowed or lent is called
Interest rate used to convert future values to

present value is called
rate or capitalization rate
(d) . Perpetuity
securities is called
(a) Yield curve
(a)
(c)
Value
(a) Discount
(b) Interest
(c) Inflation
A graph of the relationship between yields

and term to maturity for particular
Utility
Future

(b) Simple Interest
(c) Annuity
(d) Present Value
The relationship between yield and maturity
(c)
The current value of a future amount of

(c)
for securities dilfering only in the light of

(c) Yield Curve
(d) Utility
value
a given interest rate is called

(a) Annuity
(b) Present value
due is called
3.
The value at some future time of a present

evaluated at a given interest rate is called
(a) Annuity
(b) Present Value

(c) Future value or terminal
(d) Growth value
(b) Maturity
(c) Yield Curve
(d) Successful
2.
- lX
(b) Inflation
(d) None of the Above
Interest paid or earned on only the original

amount or principal borrowed or lent is
series of equal payments or receipts

occurring over a specified number of
.periods. In air ordinary annuity, payments or

receipts occur at that end of each period; in
an annuity due, payments or receipts occur
at the beginning of each period is called
(a)
(c)
Present
Interest
Value
(b) Future Value

(d) Annuity
13. An ordinary annuity whose payments or

(a)
(c)
14. A
Perpetuity
Present
Value
(b) Annuity
(d) Future Value
rate of interest quoted for a year that has
called
not been
(b) Inflation
(c) Future Value
(d) Simple interest
than once a year, the effective interest rate

will be higher than nominal rate. Such a rate
compounding.
adjusted
If interest
is called
for
frequency of
is compounded more
138

(c) Amortization
(d) Nominal (stated) inrerest rare
2r..
caIIed
15. The rate of interest earned or.paid

after
adjusting the nominal rate for factors
such as
the number of compounding periods per
(a) Technological environment

(b) External environment
(d) political environment
year is called
(a) Effective annual interest rate

(b) Compound lnterest
(c) Amortization
(d) Simple Interest
16. A tabte showing the repayment
22., Laws, government agencies,

and pressure
groups that inlluence and Iimit
various
organizations and individuals in
a given
schedule
society are called

(a) Extefnal environment
(b) Political environment
(d) Technological environment
of
interest and principal necessary

io p"y otT u
loan by maturity islalled
(a) Amortization schedule

(c) Rate of Return
(d) Interest Rerum
?3. Institutions and other forces that
society,s b*j:

(c) Culturalenvironment
(d) Home environment
and spending patterns is called

(a) Budget
(b) Economies of scale

(c) Utility analysis
(d) Economic environment
'
Differences noted over a century

ago by Ernst
in how peopte shift theirui*;?ing
across
-nnryt
food,
housing, transportatiixr, h;;th
care, and
other goods and.services categories
as family
income rises is called
(a) Iaw of difference
(b) ,Time value of money

(c) Rise in income effecr
(d) Engel's laws
19. Natural resources that are needed

as inputs
by marketers or that u"" lff."t.O
by
marketing activities is called
(a) Extem4l environment

(c) Competitor environment
(d) Natural environments
20. Developing strategies and practices

that
create a world economy that
ihe pfanet ci,"
support indefinitely is called
(a) Green house effect
(b) Global warming
(c) political environmenr
(d) Environmental sustainability
affect
perceptions,
- values,
preferences, and behaviors
is called
17. Factors that alfect consumer buying

power
18.
Forces that create new technologles,

creating
new product and market opportunities
is
24. Fresh understanding of customers and

the
marketplace derived from marketing
information that become that basis
for
creating customer value and relationships
is
called
(a) Market
insight
(b) Fresh insieht
(c) Customer insight (d) Customer?atabase

25. 'People and p_rocedures
for assessing
information needs, developing the
needed
information and helping aecisfn
makers to
sue the information to generate
u"a
actionable customers ana mart<et
"ufiJui"
insights
is
called
(a) Marketing information system (MIS)
(b) Enterprise resource ptanning (ERpt
(c) saP
(d) Marketing intelligence
26. Electronic collections of consumer
and
market information obtained from du;;
sources within the company
network is called
(a) Internal databases

(b) Extemal database
(c) eRP
(d) saP
27.
Which of the following is not a liabilitv?
(a) Accounts payable

1u) n",ri*a-"-rtirg,
(c) Notes payable (d) Uneamed
r"u"ru"
31
139
34.
ting
28
sis
Adjusting entries
(a) Decrease assets

(b) Increase assets
(c) Decrease expenses
(d) Increase liabilities
have been made
(b) Usually are recorded as of the last day of

the accounting Period
(d)
at
least one income

statement account balance and one balance
sheet account balance
B and C are correct
Which of the following direct effects on the

fundamental accounting model is not
possible as a result of transattion analysis?
(a) Increase a liability and increase an asset t
(b) Decrease, stockholders' equity and increase
29.
35
36.
(a)
(c)
37.
38.
33.
Exporting (b) Importing

Licensing (d) Franchising
An approach to going global
specifications is called
(a) Licensing
(c) Exporting
bY
(b) Franchising
(d) Importing
39. An approach to going global by services

organizations the right to sue your brand
name, technolory, or product specification is
the
The accounts payable account has a

beginning balance of $2,000 and we
purchased $5,000 of inventory on credit
during the month. The ending balance was
$1,200. How much did we pay our creditors
during the month?
(a) $5,800
(b) $3,800
(c) $8oo
(d) None of the above amounts is correct

selling products at home that are. made
manufacturing organizations that involve

giving other organizations the right to use
your brand name, technology, or product
called
(a) Importing
equation
32,
(b) Exporting
(d) Franchising
(a)
(c)
(a) Equipment increases bY $60,000

(b) Liabilities increase by $40,000
(c) Total assets increase by $40,000
(d) All of the above effects occur on
Importing
Licensinc
overseas is called
expenses incurred
company buys equipment for

pays for one third in cash and
and
$60,000
thirds is financed by a note
two
other
the
payable, the following are the effects on the
equation
involves
overseas is called
30. The principle which holds that all of the
31. When
An approach to going global that
making products at home and selling them
(c) Increase an asset dnd decrease an asset

(d) Decrease stockholders' equity and decrease
in earning revenue should

the revenue recognized
with
be identified
period is the
the'same
and reported for
(a) Revenue principle (b) Liability principle
(c) Timing principle (d) Matching principle
A global type of organization in which

artificial geographical barriers are
eliminated is called
(a) Borderless organization

(b) Virtual company
(d) rNC
(c) MNC
an asset
an asset
the telephone
bill, this would
(a) Are primarily used to change account

balances because of accounting errors that
(c) Always change
If X Company paid $500 for
(b) Exporting
(d) Licensing
(c) Franchising
40.

partnerships between an organization and a
foreig4 company
in which both share
in developing new
products or building production facilities is
resources and knowledge

called
(a) Foreign subsidiary
(c)
Franchising
(b) Strategic alliance

(d) Joint venture
41. An approach to going global that involves a
Payment of a liabititY would

(a) Decrease stockholders' equity
direct investment in a foreign country by

setting up a separate and independent
(b) Decrease assets

(c) Not affect assets
(d) Increase stockholders' equity
production facility or office is called

(a) Foreign subsidiary (b) Franchising
(c)
Strategic
alliance (d) Joint
venture
140
Consider the supply function and demand

42.
slt. In case ,of linear correlation, if x increases

and therre is a shift in the values of y, it is said
accordingly,
that ther,e is
Supply: P=7/aQ+200
Demand:P=-ll2Q+800
(a) Correrlation
(c) Parettt diagram
What is the equilibrium price
(a)
(c)
200
600
(b)
(d)
52. The corrrelation is
(b)800
(a)840
(d)
53.
54.
will be
(a)800
(c)400
46.
47.
For Revenue, R(x) = -4xz + 72, total cost,

C(x) = 16x + 180, then the profit equation
will be
(a) Profit = 50x
(b) Profit =-4xz +56x-lg0
(c) Profit =-4x2 + 56x +180
(d) Profit = -4x2 - 56x -1g0
For the equatiops in Question 46 above, the
(a)5,8
(b)5,9
(c) 5, 10
48.
(b)300
(d)500
55
56.
49.
(b)5 or 10
(d)5 or ll
57.
COrrelation
(a)No
(c)Negativc
(b)POsitivc
v,
alue betwee n
and
always
(b)-l and l
(d)l and 2
Value of +1 for lirrear correlation coefficient
rsignifi,esa-(a) Perrfe:ct negative, correlation

(b) Perfect zero corn:lation
(c) No co,rrelation
(d) Perfect positive correlation
58.
Value clf -I for linear ,correlation coefficient

signifies a -
(a) Per fect rnegative cor.relation

(b) No correlation
(c) Perfect zero correlati(on
(d) Per fect negative corre,lation
50. In
case of linear correlation, if x increases

and there is no definite corresponding shift
in the value of y, it is said that there is
The linear correlation coefficient

(C)Otand l
breakeven level of output is_______
(c)4 orll
In ar scatter diagram, if the data form a

strailght horiz,ontal or vertical line , we sdy
(a)0
For the equations in QuestiOn 48 above,the
(a)50,80
linea r correlation occurs when all the

poi.nts fall ex actly along a straight line
(a) Negative
(b)Perfect
(c) Negative
(d)Imperfect
has
will be
(a)PrOfit=-5x2+650x-2000
(b)PrOfit=-5x2+650x+20000
(C)PrOfit=-5x2+650x-20000
(d)PrOit=-5x2+650x-2000
Neither ,positive nor negative
thatt lthere is
(a) Irlo correlatiion
(b) Positive cor relation
(c) Negative corrrelation
(d) lPerfect corre:lation
(d)5,H
COnsider Revenue, R(x)= 5x2 + 750 and

C(X)=100X+20000,then the prolt function
The coruellation is_

when y tends to
decrease wiith the increase in the value of x.
(r:)
(d)
45. For QueStion 42, the equilibrium quantity
tends to
(,b) Positive
quantity will be
(c)930
t1a) Negativ e
44. For QueStiOn 42, the equilibrium delnand

(a) 710
when
increase vvith the increase in the value of x.

(a) Positirze
(b) Negative
(c) Neither positive nor negative
400
790
43. For Question 42, the equitibrium supply

quantity will be
(a)710
(c)830
(b) Regression
(d) Cluster diagram
59.
Linear correlation coeffi,cient
__of
(a)
(c)
measure the
a linear relatiornship
Reliati,onship (b) 0 and I
(d) lStrength
ProbaLrility
141
does not tell us about the mathematlcal

relationship between the two variables
69.
Gettlng the meanlng ftom ones head into the

head of the readerflistener accurately is the

(b) Linear regression
62.
(a) Clarity
(c) Concisely
70.
Process in which employees leave the

organization and have to be replaced is
71.
called
(a) Firing
(b) Turnover
'
(c) Absenteeism (d) Franchise
63.
`4.
66.
lower performing or disruptive employees

leave, it is best described by
Dysfunctional turnover
Voluntary turnover
Functional tumover
Involuntary turnover
74.
the
the
(b) Indirect
As an author, 'when one thinks that the
(a) Direct
75
As an author, when one thinks that
(a) True
76.
the
(b)
False
The _
news message is one fo the most
difficult to write
Good
(b)
Bad
The most important positions in any business

message are the
paragraphs
(a) Writing
(b) Opening
(c) Closing
(d) Opening and closing
78. Often the _

aside forlater study or diicard
(q) Opening
means being specific,
Correctly
Clearly
(b) Indirect

77.
definite and vivid rather than vague and
Concreteness
Conciseness
(a) Direct
key individuals and high performers leave
general.
(a) Concretely
(c) Concisely
(b)
(d)
anoroach
(a)
at critical times, it is best described by

(a) Functional tumover
Communicatiqg
Correctness
Clearness
neutral information, one can use
Ii
(c) Involuntaryturnover
68.
(a)
(c)
approach
If Employee leaves by choice is called

(b) Involuntary turnover
(c) Uncontrollabletumover
(d) Absenteeism
If
`7.
core of
is proper grammar,
punctuation, and spelling
Terminations for poor performance or work

rule violations are called
(a)
(b)
(c)
(d)
E-mail messages are short and often

(a) Informal
(b) Formal
(b) Absenteeism
(c) Involuntary Turnover
(d) Uncontrollable turnover
65
(b) Courtesy
(d) Concisely
72. At the
Following are type of turnover
(a) Involuntary turnover

Concretely
Correctly
involves being aware not only of the

perspective for others, but also their feelings
(a) Clarity
(c) Correctly
regression
(b) Linear
lells us about the mathematical

relationship between the two variables
purpose of
79.
(b) Closing
Speclallzation and trade among econollucs

units are based on the principle of
(a)
(b)
(c)
(d)
Comparative advantage
Competitive advantage
Production advantage
Efficiency advantage
80.
If
the exchange rate of Rupees (Rs.) increases

in
the value of Dollar ($)
'\\
(a) Appreciation
(b) Depreciation
81.
90
rate of Rupees (Rs.) increases

in
the value of Rupees (Rs.)
(c) Utility products

(d) Large quantity
(e) Feeling of joy
trf the exchange
91.

(a) Etiquete
(b)Etiquctte
(c) Atiquette
(d)Etiqucte
92.
The act of a person that is
(a) Appreciation
(b) Depreciation
82.
If the exchange rate of
Rupees {Rs.)
decreases against Dollar ($), it is knowir as
85
86.
Silnple
Th is the
(a)Tallcst
(C)Tall
'
bdding.
(b)TallCr
(d)SInaller
She said_thatShe was not happy.

(a) Farther
(b)Further
(c) Either
(d)Ncithcr
95
GDP stands fOr

(a) Great Domestic Price
(b) Gross Dominant Price
(c) Gross Domestic Product
(d) Gross Domestic Price
96. David ranks seventh from the top and

28fr from the bottom in a class. Itrorv many
stidents are there in the class?
(a)36
(b)35
(c)34
(d)
(e)
GNP stands for

Great National
Gross National
Gross National
Great National
Production
Product
97.
Pnce
Price
(b) twisted
(d) puzzling
98.
99
(c)
(e)
Fashion
100.
(d)Tablc
Selrt rrom the fo owing,whic d erent
froin the others

(q) Reap
The Synonyrn of fogue k

(a) Cunent fashion (b) Inflammation
(b)Acne
(d)Giddy
Select from the following, which is differenl

from the others
(a) Great
(b)TrCat
(c) Tears
(e) Later
Foshion
(d)
Select the following which is differed from

other with respect to alphabets
Egg
(C)Mother
The antonym of .Voguer ls:

(o) Cunent fashion (b) tnflammation
(d) Dress
(c)0:l fashlon
(c) Dress
(e) Old Fashion
None of the above
The synonym of knotty is:
(e)
89
94.
Cheap
goods and services

(b) Raw Material
(a)Final
(d) Inventory.
(C)Sctt Finished
(a) crossed
(c) sensitive
(e) rope
t8.
(a) Untruthful
(c) Rebellion
For Double counting problem, GDP includes
(a)
(b)
(c)
(d)
87.
If the
exchange rate of Rupees (Rs.)

decreases against Dollar ($), it is known as
in the value of Dollar (Rs.)
(a) Appreciation (b) Depreciation
(d)Ainity
Squeak act
84.
(c)
83.
opposite
affection and care is an act of:

(a) Love
(b)Inhumanity
in the value of Rupees (Rs.)

Appreciation
Depreciation
Nestle means:
(a) Cold and hot
(b) Settle comfortably and warmly
(a)
Tore
(b)Rare
(d)Tear
Pear
(C)Verb
for comparison.
(b) Noun
(d) Conjunction
has three degrees
Adjective
ANSWERS
a
11.
12.
18.
19.
d
d
1.
2.
8,
9.
10
4.
6.
13
7.
14.
21.
28.
15
16.
17.
22.
b
b
b
b
23.
24.
25.
26
27.
d
b
d
b
b
31.
32.
33.
34.
35
41.
42.
418.
49
55.
56
62.
63.
69
70
77.
84.
29.
36.
43.
30.
37.
44.
38.
39,
40
45
46.
47.
54.
b
b
b
b
50
51.
52.
53.
571
58
59.
60
61.
66
67.
68
20
64.
65
71.
72.
73.
74.
75
76.
78.
79.
80.
81.
82.
83.
88
89.
90.
95
96
b
d
85
86.
87
92.
93.
94.
99.
100.
97.
91
98
d
a
b
d
144
SeupLE Trsr
The amount of money that could be reallzed lf
an asset or a group of assets is sotd separately
from its operating organization is called-
9.
(a) Amortization
(b) Liquidation value
2.
The amount a firm could be sold for as a
(a)Bond
7.
(b) Causal research

(c) Descriptive research
(d) Secondary research
11. Marketing research
(a) Secondary research

(b) Exploratory research
(c) Causal research
(d) Descriptive research
(b) Stocks
(d) Contract
(a) Face value

(b)Market value
(c) Intrinsic Value (d) True Value
12. Marketing research to test hypothesis about

cause and effect relationships is called
(a) Descriptive research
(b) Causal rescarch (c) Secondary research
(d) Exploratory research

13. Informatlon that already exists somewhere,
having been collected for another purpose
ls
called
The stated rate of interest on a bond is best
:1
described by
8,
(b) Coupon rate

(d) Simpte Inrerest
14.
publlcity
avallabls lnformatlon about

consumers, competitors, and developments
in the marketing envlronment ls called
::
(b) Secondary data

(d) Online data
Informatlon collected from the
pUrpose a[ hand ls called
The systematic collectlon and analysis for
(a) Marketing research

(b) Marketing inrelligence
(c) Exploratory-research
(d) Advertising
describe
is called
The stated value of an asset is called
(a) Interest Rare

(c) Annuity
to better
marketing problems, situations or markets,

such as the market potential for a product or,
the demographics and attitudes of ^consumers
The price a security ,,ought to have,' based

on all factors bearing on valuation is called
(c)Debenturc
6,
10. Marketing research to gather preliminary

information that will help define problems
The marhet price at which an asset trades is
corporation or goyernment is called
research
and suggest hypothesis is called

(a) Exploratory research
called
(a) Going Concern Value
(b) Market value
(c) Intrinsic Value
(d) Face Value
(a) Market value (b) Face Value

(c) Intrinsic value (d) Bond
A long,term debt instrument issued by
The systematic design, collection, analysis,

and reporting of data relevant to a specific
marketing situation facing an organization is
(a) Advertising (b) Marketing
(c) Managing information sysrems
(d) Causal research
(a) Market Value

(c) Intrinsic Value
(d) Face Value
4.
16
called
continuing operating business is called
3.
-X
15
speclflc
(a) Secondary data (b) Tertiary data

(c) Collected data (d) primary data
For each tranmction recorded in an
accounting system, the two basic equalities
that must be maintained at all times a-re

(a) Assers = Liabilities + Stockholders,Equiry.
(2) Net Income Revenues + Expensei
=
(b) Cash Increase = Cash Inflows _ Cash

Outflows. (2) Net income Revenues +
=
Expenses
(c)
(d)
Assets = Liabilities + Stocl<holders'Equity.

(2) Debits = Credits
Net Income = Revenues -r Expenses. (2)
22.
On April 1,2013, the premium on a one-year

insurance policy on equipment was paid
amounting to $1,800. At the end of 2013 (end
of the accounting
period), the financial
23.
(a) Insurance expense, $1,350;
are in trouble is called
$1,800; Prepaid
(b)InSurance
cxpense,
lnsurance$0
(C)InSurancc cxpcnsd, $0: Prepaid insurance
$1,800
(d) Insurance expense, $450; Prepaid insurance
$1,3s0
(a)
(b)
(c)
(d)
24.
Which group of accoirnts contains only those

Accounts receivable;
depreciation; Fees earned
Which Group of accounts contains-only those

that normally have a debit balauce?
(a) Cash; Inventory; Prepaid Insurance
Dividends;
Sales
Revenue
(d) Notes Receivable;
Wages
26.
Payable;
The assumption that a business can continue

to remain in operation into the future is the
(a) Cost principle
(b) Continuity assumption
(c) Unirof-measure assumption
(d)
20
(c)
by the
board of
(b)
(d) Both A and C decrease
21.
28.
In
their behavior and beliefs about that is

important is called
(a) National culture (b) Collectivism
(d) Local culture
(c) Individualism
shape
minimization problems, the constraint

retained earnings
The values and attitudes shared by

individuals from a specific country that
(b) Individualism
(d) Quantity of life

concern for others is called
(a) Quality of life
(b) Individualism
(c) Collectivism (d) Quantity of life
cause
Directors
Net income reported for the period
Collectivism
assertiveness and
27.
by
(a) Quality of life
Separate-entity assumption
A national culture attribute describing the

extent to which societal values are
characterized
Operating Expense
19.
A cultural measure of the degree to which

people tolerate risk and unconventional
(b) Uncertainty avoidance
(c) Power distance (d) Individualism
Capital
Receivable;
A cultural measure of the extent to which a

society accepts the unequal distribution of
power in institutions and organizations is
behavior is called
(a) Collectivism
(b) Bond investment; Cash; Contributed
(c) Accounts
Power distance
Uncertainty avoidance
(b) Power distance

(c) Collectivism
25
Operating expenses
Collectivism
Individualism
called
(a) Individualism
Accumulated
(b) Bond investment; Cash; Contributed capital

(c) Cash; Inventory; Cost of Goods Sold
(d) Notes receivable; Wages payable;
18.
dimensions that describes when
after them and to protect them when they
Prepaid
insurance $450
(a)
A cultural
people expect to others in their group to look
statements for 201.3, would report
17.
culture dlmension that descrlbes when
people are supposed to look after their own

interests and those of their immediate family
is called
(a) Collectivism
(b) Individualism
(c) National culture (d) Local culture
Debits = Credits
16.
29.
sign.
(a)
(b)
(C)
(d)
In maxinization problelllls, the Constraint

Sign.
(a)
(C)
(b)
(d)
146
30.
In linear programming, the profit is

at the intersection of two
constraints, called the _
points.
(a) Extreme Point (b) Irast point
maximized
(c) BreakEven Point (d) Constrainr'point

31. In linear prograrnming, Pivoting is the
process of solving n equation for _
40. Any subset

(a) Event
(c)
41.
(b)n+1
(d)n+3
32. Every minimization problem
programming
has a
42.
linear
corresponding minimization
True
(b)Falsc
33. In the context of Question 5I, the original
43
ra
35.
The Dual
(d)ShadOw PHcing
51, the
Value
rvlarginal
37.
(d) Shadow pricing
(b)Coefficient
45
(d)Strength
Any process that yields a result or

(a)
38. A particular
(a)
(c)
39.
The set
of aU possible outcomes of
(a) Event
(c) Population
(b)
(d)
Sample space
Regression
for leaving the
Research
57.
(d)Fccdback
has
certain views about particular demographics

of people is called_
(b) Stereotyping
(a)Fcedback
(O Ha1lo Effect
47,
48.
(d)
Amitude Problem
(b)Hulnanc
(d)D crsity
The phenomena that individuals should have

equal treatment in all employment-related
actions is best described by
(a) Work force diversity
(b) Employer ethics

(c) Indifference employer
(d) Equal employment opportunities
an
49.
58
The differences among people is called

(a)Sirdla ty
(C)Indifferencc
(b) Population
(d) Regression
experiment is called
reasons
46. An interview in which the interviewer
result of an outcome is called
Sample
Outcome
56.
An interview in which individuals are asked
(c)
an
Experiment (D Sample
Population (d) Research
55
organization is best described by

(a) Exit interview (b) Interview
observation is called
(c)
54.
A survey that focuses on employees, feelings

and beliefs about their jobs and the'
to identify
If
the number of tirnes an experiment is

repeated is increased, the ratio of the
number of successful occurrences to the
number of trials will tend to approach the
theoretical probability of the outcome of ran
individual trial. This law is known as
(a) Probability
(b) Law of large numbers
(c) Strength
(d) Regression
Turnover which occurs due to factors that
(a) Exit interview (b) Research
(c) Attitude survey (d) Feedback
The relative frequency with which that event

can be expected to occur is called
(a)Correlation
(C)Probability
36.
44.
(b)The P Inal
52.
Turnover which occurs for reasons outside

the impact of the employer is best described
(a) Controllable turnover

(b) Uncontrollable turnover
(c) Functional turnover
(d) Voluntary tumover
(b)Thc P Inal
34. In the cOni

Of QutStion
corresponding pr! Jtrenn is called
(b) 3/t
(d) 1
could be influenced by the employer is called
problem is called
(a) The Dual

(c) Marginal V:rl,,e
2/a
51.
(a) Uncontrollable tumover

(b) Controllable turnover
(c) Functionalturnover
problern
(a)
50
Strength
by
corresponding
maximization problem and every nraxirnization
problem has
(d)
Two coins are tossed simultaneously, the

probability that atleast one head wiII occur is
(c)
in
Sample
(r) 0
variables.
(a) n
(c) n+2
of the sample space is called

(b) Population
Often the opening determines whether the

reader
(a)
(b)
Continues reading
Puts the message aside for later study
59.
60,
147
(c) Discard
50
51.

opening sentence.
Avoid a(n)
(a) Irritating
(b)
The
sentence
Pleasant
is
more likely
motivate the reader to act as requested.

(a)
Opening
(a) Fnctional unemployment
a plan and
(b)- Structural unemployment
is
(a) Anticipate (b) Ascertain

(c) Conflagration (d) Deem
One agrees /o
(c) Cyclicalunemployment
63.
54.
True
(b)
agrees
with
(a) natural
(b) natural
(c) natural(d) natural
False

messages to persons outside the firm is the
64
Most business letters have seven standard

parts which are heading, inside address,
salutation, body, complimentary close,
65
True
(b)
56. Telegrams can send a

(a) Province
(c) Continent
57.
False
within
(b) Country
(b) Country
Oversees
58. Telegrams, cablegrams and
save_
radiograms
68.
(c)A&b
means alternating periods of
59.
(a)
(c)
60.
Cycle
Business
Product Life Cycle
(b)
(d)
69.
pattern.
(a) Recession, trough, peak, recovery

(b)denatiOn

economv is called as
(b) deflation
(a) inflation
is the result of
excess aggregate
Foible is:
A man jumped
the river.
(b)InSide
(a) In
(c) Into
Business Loop
Product Life Loop
Typical business cycle has the following
Increase in the general level of prices in the
(a) A defect ofcharacter

(b) Musical instrument
(c) A review of constitution
(d) Speedy communication
(b)Time
(a)NIIOney

(c) Demand Push Inflation
(d) Demand Push Deflation

within a.
Province
unemployment always has a
67.
message
(a)
(c)
unemployment
employment
cyclical unemployment
structural unemployment
(a) inflation
66.
message
of
of
of
of
economv is called as
signature area, reference section
(a)
rate
rate
rate
rate
(a) economic cost

(b) ecooomic profit
(c) economic stability
(d) economic advantage
61 Burir.rs letter (b) Email

(d) SMS
(c) Pager
55

called as
person.
(a)
is the result of changes in technology.
62.
(b) Closing
52. The formal word for the word expect
53.
61.
,
70.
(d)On
SmOking
He took
when he was quite
young.
(a) up
(c) To
(b) On
(d) Over
71. I can ot put______ with noisy people.
(a)Off
(C)Up
"
(b) on
1d1 out
148
72. Current fashion
Could you please give me

CfFee.
(a)The
(b) A
(C)SoIIne
(d) ny
lt costs about
74.
85
Fill
To scparatc
Adhere means
(a)Adopt
(b)Stick
(c)Appreciate
(d)Avoid
86.
87.
77. The antOnyn1 0f adnfre is
78
88.
79
80.
Decrease
89
90.
92
of
money
by government is known as
(a) Cause of inflation 1U; Hyp".innution
function expresses the
the total
quantity
demanded and the price of the product.
(a) Supply
(b) Utiliry
(c)
Demand
the total
quantity
Mr. Nusrat Fateh Ali Khan is more famous
(d)NIlarket Basket
(b) Then
(d) Further
His car his better

town.
many other cars in
(b)
(d)
Than
Cheap
_
Untruthful (b) Cheap
Rebellion (d) Simple
This is the _
buildins.
Unprising is closest to
(a)
(c)
93.
Seingniorage
The
function expresses the
(a) Then
(c) Best
but does not affect
relationship between
(b) Irss
(a) Complement (b) Demand

(c) Supply
83.
More
The
many others.

(b) Utility, steady srare value
(c)
The demand functions shifts to the right and

the consumer prefer the product
than
before
supplied and the price received by suppliers
91.
revenue collected because of issue
(b) Supplied
Demanded
Complements
(a) Than
(c) Farther

82.
When the price of a product changes and the

demand function of a related product shifts
in the opposite direction, the two goods are
relationship between
Money can best be defined as

(a) Store of value
(b) Unit of account
affects
(b) Complements
(d) Demand
(a)
Fu.ndamental objective of 'any monetary

policy is .=(a) Employment with inflation
(b) Employment without inflation
(c) Employment with deflation
(d) Employmenr wirhour deflation
Money
The
function can shift if the price of
another good increases and
(a)
(c)
Cost push is mostly the result of factors that
(b)
(b) Complements
(d) Demand
called
(b)ExtOrt
(d)Applaud
(a) Increase
(c) Keep stable
Basket
The law of _
describes the inverse
relationship between the quantity demanded
and the price of the product
(a) Supply
(c) Market
(b) To gather
(d) To collect
(a) Disapprove
(c) Approve
function
consider one good a substitute of the"orrs,rm""

other.
Accumulate means
(a) Companion
(c) To pile
G) Uiitity
(d) Market
(a) Supply
(c) Market
(C)Separate
76.
(a) Suppty
(c) Demand
sixty dollars to have a both
(a)To fill
75
Dress
(d)
moyement along
always involves a change in the price of the

product in question and a change in the total
quantity demanded for that--product
(b) Old fashiOi F
(c) Vogue
(e) Fashion
73.
84
(a) Inflammation
94.
(a)Tallest
(b)Taller
(C)Tall
(d)Smaller
She
(a)
(c)
said
Farther
Either
(b) Further
(d) Neither
749

95
You hive been asked to appoint a personal

(a) She mgst have good experience

96

of equal volume
gg. At midnight, you heard the voice of several

people shouting' 'tire". Which of the
(a) Ensure where the fire had taken place
White riding on a scooter, you find someone
(b)
(c)
hurt by your scooter. Which of the

followlng will be your responsibility?
has been
(b)
(c)
(d)
(e)
e
S
97.
(d)
dispose the matter

Try to.run away from the spot immediately
medical aid
(e)
100.
None of the above
to
1970, the amount
of
(a) Each of the following, if true, could help to

unit of output

Cold weather is favorable for the patients of

tuberculosis
output decreased
(d) The use of chemical fertilizers

decreased
(a) It is spongy
(b) It is transparent
ANSWERS
2.
3.
4.
food
half times.

(a) They are advibedby the Physicians to do so
98.
From 1940
production per worker and per hour increased

two fold. From 190 to 2000, food production
per worker and per hour increased one and a
(d)
and
to rilhat extent
Continue to sleep till you are called for
Rush out of the room with buckets of water
Rush to the fire brigade statiort and inform
None of the above
7.
14.
b
d
20.
b
d
21.
27.
28.
12.
18.
19.
25.
26.
b
b
d
31.
32.
33.
34.
35.
38.
39
401
41.
45.
46
47.
48.
b
d
42.
44.
b
b
49
51.
52.
53.
54.
55
56.
d
b
63.
8.
9.
10.
15
16.
17.
22.
23.
24.
29
30.
36.
37.
43.
50.
`.
13.
57.
58
59.
60.
61.
62.
64.
65
66.
67.
68
69.
70
71.
72.
73.
74.
75
76.
77.
78
79.
80
81.
82.
83.
84.
85
86.
87
88
89.
90.
91.
94.
96.
97.
98.
b
d
92.
93.
99
100
95
150
SELF AssESSMENT SHEET

Test No.
SAMPLE
TnsT-
Correct Answers
Wrong Answers
%in Test
Saupm TBsr-II
SAMPLE TEST III
Saupln TEST-IV
Sauplrc
Tnsr-V
SAMPLE TEST_VI
SAMPLE TEST-
VII
Saupln Tnsr - VIII

SAMPLE
TnsT- IX
SAMPLE
Tnsr-X
F'onn,TuIa FoR THE PERCENTAGE
Correct answers I Totalquestions x I 00

rr your 5u answers are correct out of total
70 questions you will
50
_x100
70
follow the following:
151
GlossARY
A/P is the monies the company owes for goods or
services received, but not yet paid for.
AIR is the monies due to the company for goods sold

or services rendered for which payment has not
yet been received.
Absenteeism Policy:
policy about
attendance
requirements, scheduled and unscheduled time

ofi and measures for dealing with workplace
absenteeism. Repeated absenteeism can lead to
termination.
Absolute advantage: This is the simplest yardstick

of economic performance. If one ierson, firm or
country can produce more of something with the
of effort and resources, they have

an absolute advantage over other producers.
same amount
. Being the best at something does not mean that

doing that thing is the best way to use your
. scarce economic resources. The question of what
to specialize in--and how to maximize the
benefits from international trade--is best decided
according to comparative advantage. Both
'
absolute and comparative advantage rnay change

si gnificantly over time.
Access: Access to library materials and services, on

one dimension, is represented in the location of
physical facilities. Becduse libraries are traveled-
to outlets, marketing location theories can be

applied successfully to library sitting. (Wood
and Koontz)
Accountability: Libraries
like
private sector
businesses are increasingly called upon to make
all units accountable for results. Growing funds
are needed for technology as opposed to only
books. Funders often cut the library budget first,
in favor of other agencies such as police and fire
or other seemingly, more necessary agencies.

Libraries are developing better perfornance
measures
within the present day control systems
to offer
better accountability. (Wood
and
Koontz)
Accountability:
responsibility
(in
management science) The
of an organization to prbvide
evidence that its policies, prograrns, and projects

satisfy its interest groups.
Accounts Payable: (A/P) is the monies the company

owed for goods or services received, but not yet
paid for.
Accounts Receivable: (A/R) is the monies due to

the company for goods sold or services rendered
for which payment has not yet been received.
Acculturation: The process by which people in one

culture or subculture leam to understand and
adapt to the norms, values, life styles and
behaviors of people in another culture or
subcultures, Fcir example, acculturation is the
process by which a recent immigrant learns the
way of life of the new country. Library services
and materials facilitate this process.
Acquisition value; The users' perception of the

refative worth of a product or service to them.
Formally defined as the subjectively weighted
difference between the most a buyer would be
willing to pay for the product or service, less the
actual price of the item. Time user must spend to
'acquire' is often used as a surrogate for .relative
worth or price paid,' in library research. For
example, a user might be willing to expend drive
time and a brief time in the library to check out a
best seller, but not wait two weeks for a copy to
be returned.
Abtion team: (in planning) A group of people who

are responsible for implementing a specific
improvement goal.
Activities, Interests, and Opinions (AIO): A

measurable series of psychographic (as opposed
to demographic) variables involving thg interesrs
't
ls2
and beliefs of users. Note,
because
psychographics are usually expensive to gather,
yet offer a more precise profile of
users,
demographic variables are usually relied upon.
Activity-based costing (ABC) aims to provide a

dynamic and realistic means of calculating the
true cost of doing business. It precisely allocates
direct and indiiect costs to particular products or
customer segments.
Activity-Based Costing (ABC): aims to provide a

dynamic and realistic means of calculating'the
true cost of doing business. It precisely allocates
direct and indirect costs to particular products or
customer segments.
Adaptive expectations: A theory of how people

form their views about the future that assumes
they do so using past trends and the errors in
their own earlier predictions. Contrast with
rational expectations.
Administrative culture: The prevailing attitudes,

values, beliefs, and rules for acting within an
organization.
Administrative Services OnIy (ASO): The hiring of

a firm (usually a health care vendor) to handle
certain administrative tasks. The firm does not
assume any risk but merely carries out the
specialized functions that the employer cannot or
does not want to do. For example, an employer
funds its own dental insurance claim payments
but pays the ASO firm to process the claims.
Aflirmative action: Proactive policies aimed
at
increasing the employment opportunities of

certain groups (typically, minority men and"/or
women of all racial groups). Title 5, Section 503
of the Rehabilitation Act requires that
affirmative action be taken in employment of
persons with disabilities by Federal contractors.
Affirmative action was designed to rectify past
discrimination but has been controversial since
its inception.
Agent (Insurance): An employee who sells
the
products owned by the company, in contrast to a
broker, who sells the insurance products of

several companies. See Broker.
Alternate Dispute Resolution (ADR): An informal

process to resolve disputes. Involved parties
meet with a trained third party who assists in
resolving the problem by arbitration, mediation,
judicial settlement conferences, conciliation or
o.*"r methods. Though usually voluntary, ADR
is sometimes mandated by a judge as a first step

before going to court.
Americans with Disabilities Act (ADA): Title I of

the Americans with Disabilities Act of 1990 is
part of a federal law that prohibits discnmination
against someone with a disability, defined as ,.a
physical or mental impairment that substantially

limits a major life activity." Disability is decided
on a case-by-case basis and does not include

conditions such as substance abuse. This law
applies to the whole employment cycle, from
application through advancement
and
termination.
Application Service Provider (ASP): Other

common terms are SAAS (software as a
service), on-demand or Web-based services. A
business that provides computer-based services
to customers over a network, as opposed to
installing the software on a company servel

(hosted). This is a cost-effective solution for
small and medium-sized businesses, who may
find it hard to keep up with the increasing costs
of specialized software, distribdtion and
upgrades. Smaller, periodic payments ieplace
one-time lump sum pricing. The ASP can be
accessed from any location via the Internet.
Hrmarketer.cbm is an example.
Applicant Tnacking System (ATS):
software
application that,began as a way to electronically

handle recruitment needs but has since expanded
to the entire employment life cycle. On

boarding, training and .succession planning
capabilities now exist, for example. An ATS can
be implemented on an enterprise level or small
business level, depending on the size and needs
' of the company. Applicant Tracking Systems
may also be referred to as Talent Management

Systems. An ATS saves time and increases
efficiency and compliance for those tasked with
managing human capital.
Attrition: A gradual voluntary reduction
of
employees (through resignation and retirement)

who are not then replaced, decreasing the size of
the workforce.
Adopter categories: Persons or agencies that adopt

an innovation are often classified into five
groups according to the sequence of their
adoption of it. (To illi.rstrate' this think of
individual use of the Internet within the library,
and for an agency, libraries that offer Intemet
access to the general public. 1) Innovators (first
153
tep
of
)is
ion
t'a
.lly
led
rde
Law
'om
and
ther
la
.A
ices
to
:ver
for
nay
lsts
and
ace
be
net.
tale
illv
ded
On
ing
can
2-5Vo); 2) Early adoprers (tO-ll7o)' 3) Early

majority (next 35Vo); 4) Late majority (next
35Vo); 5) Laggards (final 5-10%o). This is
important when considering how long it may
take for the general public to 'adopt' a product
or service.
Adverse selection: When you do business with

people you would be better off avoiding. This is
one of two main sorts of market failure often
associated with insurance. The other is moral
hazard. Adverse selection can be a problem
when there is asymmetric information between
the seller of insurance and the buyer; in
particular, insurance will often not be profitable
when buyers have better information about their
risk of claiming than does the seller. Ideally,
insurance premiums should be set according to
the risk of a randomly' selected person in the
insured slice of the popglation (55-year-old male
smokers, say).
Adventlsing: Many firms advertise their goods or

services, but are they wasting economic
resources? Some economists reckon that
advertising merely rnanipulates consumer tastes
and creates desires that would not otherwise
exist. By increasing product differentiation and
encouraging brand loyalty advertising may make
consumers less price gensitive, moving the
market further from perfect competition towards
' imperfect competition and increasing the ability
of firms to charge more than marginal cost.
Heavy spending on advertising may also create a
barrier to entry, as a firm entering the market
would have to spend a lot on advertising too.
nall
Advertising: The placement and purchase of
eds
lent
announcements and persuasive messages in time

or space in any of the mass media by business
firms, nonprofit organizations. This has not been
ISES
a traditional method for libraries of informing
)ms
vith
of
:nt)
,o1
opt
ive
reir
of
lry'
xet
irst
the public, but rather public service
announcements, which are placed at no cost, are

the norm.
Agency costs: These can arise when somebody (the

principal) hires somebody else (the agent) to
carry out a task and the interests of the agent
conflict with the interests of the principal. An
example of such principal-agent problems comes
from the relationship between the shareholders
who own a public company and the managers
who run it. The owners would like managers to
run the firm in ways that maximize the value of
their shares, whereas the managers'priority may
be, say, to build a business empire through rapid
expansion and mergers and acquisitions, which
rnay not increase their firm's share price.
Aggregation: A concept of market segmentation thar

''assumes
that most consumers are alike.
Aglng: The length of.time merchandise has been in

stock. For
All-you-can-afford budgeting: An approach to the

advertising budget that establishes the amount to
be spent on advertising as the funds remaining

after all other necessary expenditures and
investments are covered. Libraries often relegate
all promotion related materials and services into
this category.-
Altruism:
It is
often alleged that altruism is

inconsistent with economic rationality, which
assumes that people behave selfishly. Certainly,
much economic analysis is concerned with how
individuals behave, and homo economicus

(economic man) is usually assumed to act in his
or her self-interest. However, self-interest does
not necessarily mean selfish. Some economic
models in the field of behavioral economics
assume that self-interested individuals behave
altruistically because they get some benefit, or
utility, from doing so. For instance, it may make
them feel better about themselves, or be a useful
insurance policy against social unrest, say. Some
economic models go further. and relax the

traditional assumption of fully rarional behavior
by simply assuming that people sometimes
behave altruistically, even if this may be against
their self-interest. Either way, there is much
economic literature about charity, international
aid, public spending and redistributive taxation.
Ambiance: An overall feeling or mood projected by

a storo through its aesthetic appeal to human
senses. A brightly colored children's room is
more appealing.to juveniles than an
area
sectioned off within the adult room which blends
in.
Amortization: The running down or payment of a

loan by installments. An example is a repayment
mortgage on a house, which is amortized b3r
making monthly payments that over a pre-agreed
period of time cover the value of the loan plus
interest. With loans that are not amortized, the
borrower pays only interest during the period of
the loan and then repays the sum borrowed in
full.
154
Analysis: In marketing and other social science

disciplines, a variety of statistical and non
statistical methods are used to analyze data,
instead of sheer intuition, or simple descriptive
statistics-- which have been the norm in the
library filed. (Wood and Koontz)
Animal spirits: The colorful name that Keynes gave

to one of the essentiai ingredients of economic
prosperity: confidence. According to Keynes,
animal spirits are a particular sort of confidence,
"naive optimism". He meant this in the sense
that, for entrepreneurs in particular, "the thought
of ultimate loss which often overtakes pioneers,
as experience undoubtedly tells us and them, is
put aside as a healthy man puts aside the
expectation of death". Where these animal spirits
come from is something of a mystery. Certainly,
attempts by politicians and others to talk up

confidence by making optimistic noises about
economic prospects have rarely done much

good.
Antitrust: government policy for dealing with

monopoly. Antitrust laws aim to stop abuses of
market power by big companies and, sometimes,
to prevent corporate mergers and acquisitions
that would create or strengthen a monopolist.

There have been big differences in antitrust
policies both among countries and within the
same country over time. This has reflected
different ideas about what constitutes a
monopoly and, where there is one, what sorts of
behavior are abusive.
Appreciation: A rise in the value of an asset and the

opposite of depreciation. When the value of a
currency rises relative to another, it appreciates.
Arbitrage pricing theory: This is one of two

influential economic theories of how assets are
priced in the financial markets. The other is the
capital asset pricing model. The arbitrage pricing
theory says that the price of a financial asset
reflects
a few key risk factors, such as the
expected rate of interest, and how the price of

the asset changes relative to.the price of a
portfolio of assets. If the price of an asset
happens to diverge from what the theory says it
should be, arbitrage by investors should bring it
back into line.
Arbitrage: Buying an asset in one market and

simultaneously selling an identical asset in
another market at a higher price. Sometimes
these will be identical assets in different
markets, for instance, shares in a company Iisted
on both the London Stock Exchange and New
York Stock Exchange. Often the issets being

arbitraged will be identical in a more
complicated way, for example, they will be
different sorts of financial securities that are
each exposed to identical risks.
Assets are all of a company's physical or intellectual

property that has financial value.
Assets: Things that have eaming power
or
some
other value to their owner.
Asymmetric information: When somebody knows

more than somebody else. Such asyrnmetric
information can make it difficult for the two
people to do business together, which is why
economists, especially those practicing game
theory, are interested in it. Transactions
involving asymmetric (or private) information
are everywhere. A government selling
broadcasting licenses does not know what
buyers are prepared to pay for them; a lender
does not know how likely a borrower is to repay;
a used-car seller knows.more about the quatiiy
of the car being sold than do potential buyers.
This kind of asymmetry can distort people's
incentives and result in significant inefficlencies.
Asymmetric shock: When something unexpected
happens that affects one economy (or part of an
economy) more than the rest. This can create big
problems for policymakers if they are trying to
set a macroeconomic policy that works for both
the area affected by the shock and the unaffected
area. For instance, some economic areas may be
oil exporters and tthus highly dependent on the
price of oil, but other areas are not. If the oil

price plunges, the oil-dependent area would
benefit from policies designed to boost demand
that might be unsuited to the needs of the rest of
the economy. This may be a constant problem
for those responsible for setting the interest rate

for the euro given the big differences--and
different potential exposures to shocks--among
the economies within the euro zone.
Atmospherics: The physical characteristics of the
library such as architecture, layout, signs. and
displays, color, lighting, temperature, access,
noise, assortment, prices, special events, etc,,
that serve as stimuli and attention attractors of
users to the library or information agency.
Attitudes: Enduring systems of positive or negarive

evaluations, emotional feelings, and action
155
New
reing
nore
lbe
are
:tual
ome
ows
Auctions: Going, going, gone. Holding an auction

can be an extremely efficient way for a seller to
set the price of its products, especially if it does
not have much information about how much
people may be willing to pay for thpm. Auctions
fascinate econothists, especially those who
specialize in game theory. They have long been
a feature of the sale of art and antiques in the
rooms of firms such as Sotheby's and Christie's.
But in recent years they have played a growing
role in other parts of the economy, ranging from
ame
ions
.tion
number of people that,attend a library program.
,ers.
Ian
big
Ito
roth
:ted
,be
the
oil
,uld
and
tof
Iem
:ate
lnd
)ng
ion
or hourly wage paid for a job, irrespective of
benefits, bonuses or overtime.
activities to the vision and strategy of the

organization, improve internal and extemal
communications, and monitor perFormance
against goals. Developed in the early 1990's by
Drs. Robert Kaplan and David Norton, the
balanced scorecard measure four areas of
business: internal business processes, financial
performance, customer knowledge, and learning
and growth.
Benchmark Job: A job commonly found in the

workforce for which pay and other relevant data
are readily available. Benchmark jobs are used to
make pay comparisons and job evaluations.
be self,Autarky: The idea that a country should
sufficient and not take part in international trade.

The experience of countries that have pursued
this Utopian ideal by substituting domestic

production for imports is an unhappy one. No
country has been able to produce the full range
of
goods demanded
by its
population
at
competitive prices. Indeed, those that have tried
to do so have condemned themselves
to
inefficiency and comparative poverty, compared

with countries that engage in international trade.
Average: A number that is calculated to summaries
a grcup of numbers. The most commonly used
average is the mean, the sum of the numbers
. divided by however many numbers there are in
the group. The median is the middle value in a
group of numbers ranked in order of size. The
in a
group
of
following
group of numbers' Take the
numbers: l, 2, 2, 9, 12, 13, l7
mode is the number that occurs most often
strategic planning and
management system that is used to tie business
process of reviewing the library's

strengths and weaknesses (internally), and
opportunities and threats (externally) to shed
light on the agency's performance'
Balanced Scorecard:
Audit: The
Background Screening
lVe
Base Wage Rate (or base rate): The monthly salary
persons
rle's
ies.
:ted
application.
Audience: The number and/or characteristics of the
pay;
pre-employment
requires that there must be a consent and

disclosure form separate from an employment
recently the sale of goods over the Intemet.
rder
employer outsources
screening, the federal Fair Credit Reporting Act
using competitive tendering, and even more
vhat
rlity
an
govemment-controlled
broadcasting bandwidth to the awarding of work
to subcontractors by governments and big firms
or households who are exposed to a

particular type of advertising media or media
vehicle. In a library this could be a certain
ling
of
or
'the allocation of
:tric
two
why
the functions required by the job. The screening

can involve criminal background checks,
verification of Social Security numbers, past
year
birth, corporate
addresses,' age
affiliations, bankruptcies, liens, drug screening,
skills assessment and behavioral assessments. If
tendencies with respect to an object. Consumer's

overall liking or preference for an object'
isted
A technique using specific

to make comparisons between
Benchmarking:
standards
different organizations or different segments of
the organizations, with the intent of improving a
product or seryice.
-
Benefits Administration: Software that helps

companies manage and track employee
participation in benefits programs such as
healthcare, flexible spending accounts, pension
plans, etc. This software helps automate and
streamline the complex and otherwise timeconsuming tasks of benefits administration.
Behavioral-based interview:
An
interview
technique used to determine whether a candidate

is qualified for a position based on their past
behavior. The interviewer asks the candidate for

specific examples from past work experience
when certain behaviors were exhibited'
Pre-employment
Behavioral competency: The behavior qualities and
Screening: Testing to ensure that employers are
character traits of a person' These act as markers

that can predict how successful a person will be
hiring qualified and honest employees and that

prospective employee
is capable of performing
156
1:lT
tlttint
:t
1lsis tt nRIttt :an:
possesses thenll
BI

LttT H
currcnt accOunt and the capital accOunt. The

current account includes:
BJ
1 1:[ l
a:
P%s
BJl
l: :LII
e
profitability of traditional bank lending and has

led many banks to enter new areas of business,
such as selling insurance policies and mutual
funds. Increasingly, too, traditional banks are
selling off parcels of their loans in the financial
gns
lng
to
lct.
lZZ
markets by. a process called securitization.
Bankruptcy: When a court judges that a debtor is

unable to make the payments owed to a creditor.
Horv bankrupts are treated can affect economic
gowth. If bankrupts are punished too severely,
would-be entrepreneurs may be discouraged
from taking the financial risks needed to make
the most of their ideas. However, letting off
defaulting debtors too readily may discourage
potential creditors because of moral hazard.
Barcode: An information technology application

that uniquely identifies various aspects of
product characteristics, increasing speed,
accuracy, and productivity of distribution
process. Most library materials are bar coded for
security.
' decisions people make in practice, especially

when these conflict with what conventional
economic theory predicts they
will
do.
Behaviorists try to augment or replace traditional
ideas of economic rationality (homo

economicr+s) with decision-making models
borrowed from psychology. According ro
psychologists,, people are disproportionately
influenced by a fear of feeling regret and will
often forgo benefits even to avoid only a small
risk of feeling they have failed. They are also
prone to cognitive dissonance, often holding on
to a belief plainly at odds with new evidence,
usually because the belief has been held and
cherished
for a long time. Then there is
4nchoring: people are often overly influenced by

outside suggestion. People apparently also suffer
from status quo bias: they are willing to take
bigger gambles to maintain the status quo than
they would be to acquire it in the first place.
Benchmarking: Benchmarking
is the process of
gathering information, about other companies in
Barriers to entry (or exit): How firms keep out

competition--an important source of incumbent
advantage. There are four main sorts of barriers.
our industry to compare your
performance
against and to use to set goals.
Benefit segmentation: The process of grouprng

users into market segments on the basis of the
Barriers to Entry: Barriers to entry are those things

that make it difficult for a new company to
)r
compete against companies already established
For example, the library market for children's
in the field.
books, may include children and parents who are

benefiting by developing the library and reading
habit, and or recent immigrants who benefit
from learning the language of the new country.
Each is receiving a benefit from the product or
)r
lt
d
y
r
S
l
l
'
Examples include such things
as
patents, trademarks, copyrighted technology, and

a dominant brand.
Barter: Paying for goods or services with other

goods or services, instead of with money. It is
often popular when the quality of money is low
or uncertain, perhaps because of high inflation or
counterfeiting, or when people are asset-rich but
cash-poor, or when taxation or extortion by
criminals is high. Little wonder, then, that barter
became popular in Russia during the late 1990s.
Basis point: One one-hundredth of a percentage

point. Small movements in the interest rate, the
exchange rate and bond yields are often
described in terms of basis points. If a bond
yield moves from 5.25Vo to 5.45Vo, it has risen
by 20 basis points.
Bear: An investor who thinks that the price of a

particular security or class of securities(shares,
say) is going to fall; the opposite of a buli.
Behavioral Economics: A branch of economics that
concentrates
on
explaining
the economic
desirable consequences sought from the product.
service.
Benefit-cost analysis: Relationship
of
projected
outcomes to projected costs, with both outcomes

and costs expressed in monetary terms.
Black economy: If you pay your cleaner or builder in

cash, or for some reason neglect to tell the
taxman that you were paid

rendered, you participate in
for a
service
the black
or
underground economy. Such transactions do not
normally show up in the figures for GDP, so the
black economy may mean that a country is much
richer than the official data suggest. In the

United States and the UK, the black economy
adds an estimated 5-l0%o to GDP; in Italy, it
may add 3OVo. As for Russia, in the late 1990s
estimates of the black economy ranged as high
as 50Vo of GDP.
The Black-Scholes
equation is used to determine the value or price
Black-Scholes Equation:
158
of a stock option. It is a comparatively simple

formula, with only a few common variables,
developed by Fisher Black and Myron Scholes
in 1973.It makes some simplifying assumptions
about free-market economics, but it has become
an industry standard.
Block group: (census) A subunit of a census tract or

block numbering area, typically having 1,000
residents.
Block numbering area: (census) Similar to.a census

tract; a term used by the Bureau of the census
for areas lacking census tracts.
Block: (census) These are the smallest of the census

geographic designations. They are roughly
equivalent to a city block and provided for areas
lacking census tracts.
Body language: The nonverbal signals

communicated in interactions through facial
expressions, arms, legs and hands--or nonverbal
communication. This can be positive

or negative Books on reserve.
( a smile)
Bottom Line: Bottom Line refers to the bottom line

of an Income Statement. The bottom line shows
the Net Income Available To Shareholders.

When a company talks about increasing the
bottom line, they moan doing things to either
increase the revenue or decrease expenses so the
company's income increases.
Bottom-up process (in planning): To transmit ideas

and recommeqdations from the bottom of an
organization to its higher levels
A theory of human decision

making that assumes that people behave
rationally, but only within the limits of the
Bounded rationality:
information available to them. Because their

information may be inadequate (bounded) they
make take decisions that appear to be irrational
according to traditional theories about homo
economicus (economic man).
Brainstorming: A structured method to address

problems by asking people to rapidly propose
ideas, while the group temporarily withholds its
comments and criticisms.
Brand: A name, term, design, symbol, or any other

feature that identifies one seller's good or
service as distinct from those of other sellers.
The legal term for brand is trademark. A brand
may identify one item, a family of items, or all
items of that seller. If used for the firm as a
whole, the preferred term is trade name. Ubrary

could be considered a trade name.
Break-Eyen Point: The break-even point is the

point at which income matches expenditures.
Typically, initial expenditures are high. It takes
time for the income to reach the same level. The
break-even point can apply to a product, an
investment, or the entire company's operations.
Broadcast television: A method of distributing

television signals by means of stations that
broadcast signals over channels assigned to
specific geographic areas.
Budget: The detailed financial component of the

strategic plan that guides the allocation of
resources and provides a mechanism for
identifying deviations of actual from desired
performance so corrective action can be taken. A
budget assigns a dollar figure to each revenue
and expense related activity. A budget is usually
prepared for a period of one year by each
component of an organization.. A budget
provides both a guide for action and a means of
assessing performance. A budget is a library's
post control system.
Bureaucratic organization: Official decision

making is circumscribed by laws, rules, and
regulations which often result in inflexibility,

"red tape" and slowness to act. A hierarchical
business structure, unlike business that operates
in a competitive environment that does not
reward slow decision making if it results in poor
sales or customer service. Library's are often
Burnout: Bumout is the term given to the physical

or psychological condition induced in workers
by overwork or overexposure to stress in the
workplace.
Cafeteria Plan: A plan in which an employer offers

employees a variety of different benefits. The
employee is able to choose which benefits would
fit their individual needs. Examples of benefits
offered in the cafeteria include group+erm life
insurance, dental insurance, disability and

accident insurance, and reimbursement of
healthcare expenses.
Balanced Scorecard: The balanced scorecard is a

strategic management and measurement system
that links strategic objectives to a comprehensive
range of key performance indicators, to provide a
balanced view.
C:
CI
159
ily
he
:CS
he
an
Can best compete in the markets it elects to serve.

The strategic plan is based upon the totality of
Cannibalize: Eating people is wrong. Eating your

own business may not be. Firm:s used to be
reluctant to launch new products and services
that competed with what they were already
'
ng
rat
to
superior new product destroys the market for

existing products. In this environment, the best
course of action for successful firms that want to
Coaching: A method of training an individual or

group in order to develop skills or overcome a
performance problem. Coaching can be between
feedback
or promotion) and sets clearly

defined opt-out standards. Any billing,
warranties, product updates or customer service

information is not included in this act. E-mail
newsletters
that are not
considered
per month. . This can be a risky strategy for.

vendors whose profitability is directly tied to
how much the services are or are not used (e.g.,

space.
More commonly used in reference.to health care.

Carriers (e.g., Met Life, Blue Cross, Aetna, etc.)
Sell their products through Brokers &

Consultants, but may also sell .to an employer
directly.
Carve-Out: The elimination
of
coverage
of
specific category of benefit services (e.g. Vision

care, mental health/psychological services, or
prescription drugs). The employer opts out of

certain services with one vendor and contracts
another to deliver them.
Change management: A deliberate approach for

transitioning individuals or organizations from
one state to another in order to manage and
are
to offer continued lrealth

insurance coverage to terminated employees and
their beneficiaries. The coverage may continue
for the
following cases: termination of

in working hours, change
employment, change
in dependent status or age limitation, separation,

divorce, or death.
Collective Bargaining: One or more unions meeting

with representatives from an organization to
negotiate labor contracts.
Compensation:
organization.
Pay structures within an

It can be linked to employee
appraisal. Compensation is effectively managed

if performance is measured adequately.
pay: Competency-based pay,

alternately known as skill-based and knowledgebased pay, determines compensation by the type,
breadth and depth of skills that employees gain
and use in their positions.
Competency-based
eaps).
Carrier: A vendor in the employee benefits
and
requires employers
Capitated Pricing: Vendors deliver
performance
COBRA: Consolidated Oumibus Budget

Reconciliation Act. 1985 Federal law that
.advertisements are also exempt.

contracted
services for a set amount of money per employee
accountability
on progress and
usually included.
Congressional legislation
advertisement
a subordinate or an outside
but close observation,
CAN-SPAM Act (Controtling the Assault of NonSolicited Pornography and Marketing Act):
that regulates
(i.e.
Commercial
emails
commercial
manager and
professional coach and one or more individuals.

There are many coaching methods and models,
destruction themselves.
d
I
basis.
avoid losing their market to a rival with an

innovation may be to carry out the creative
doing, as the new thing would eat into

(cannibalize) their existing business. In today's
innovative, technology-intensive economy,
however, a willingness to cannibalize is more
often seen as a good thing. This is because
innovation often takes the form of what
economists call creative destruction, in which a
monitor the change. Change management can be

conducted on a continuous basis, on a regular
schedule (such as an annual review), or when
deemed necessary on a program-by-program
A set of descriptions that

identify the skills, knowledge, and behaviors
Competency Modeling:
needed to effectively perform in an organization.

Competency models assist in clarifying job and
work expectations, maximizing productivity, and
aligning behavior with organizational strategy.
Competitive advantage: In the context of Human

Resources, competitive advantage refers to the
quality of the employees, as a competing
organization's systems and processes can be
copied but not its people. All other things being
equal among competing companies, it is the
company with better employees that has the
competitive advantage.
160
cOnrldentiality agreelllent:An agrcement bctwecn
an
cmp10yer and
cmp10yce
ila
F
in
which
should possess these qualities
thc
Cdav
advance business goals.
order
to
Cost-Benefit Analysis: The ability to measure the

costs associated with a specific program, project,
Constructive disn ssal: An cmployer's behavior
or benefit. The cost is then compared to the total

benefit or value derived.
rn:::1
in
r:cttittTttc ttLcfI:
t :
glVelenthioniF: C the
in
ght
tO
scek
Cost-Per-Hire: The costs linked to recruiting talent.
s
iil.
iI
These costs can include advertising, agency fees,

relocation costs, and training costs.
Capacity building: (in relation
to development
planning) The process of improving organizations,
human resources, and legal and regulatory
frameworks.
Capacity: The amount a company or an economy

can produce using its current equipmeni,
workers, capital and other resources at full tilt.
Contingent staff:Tcmporary staff that supplclncnts
ii : :
havc nuctuating seasonal staff dcmands or are in
V
: :
:
ltr
Contract fOr ser ces: An agrcclnent with a self

emp10yed person fOr a specificjob.
Judging how close an economy is to operating at
full
capacity
is an important
Cap
ingredient of
monetary policy, for if there is not enough spare

capacity to absorb an increase in demand, prices
are likely to rise instead. Measuring an
economy's output gap - how far current output is.

above or below what it would be at full capacity_'
is difficult, if not impossible, which is why even

the best-intentioned central bank can struggle to
keep down inflation. When there is too much

spare capacity, however, the result can be
deflation, as firms and employees cut their prices
and wage demands to compete for whatever

demand there may be.
Contract 9f Service: Another te.11l fOr employlnent
Capital adequacy ratio: The ratio
of a banks
CaI
the`relationship between visitOrs tO a wcb sitc

and actiOns cOnsidered tO be a`cOnversiOn',such
to be above a minimum (,.adequate',) level so

that there is little RISK of the bank going bust.
How high this minimum level is -may vary
Cal
as a sale or requcst tO receivc lnore infollllation.
according to how risky a bank's activities are.
agreement.
capital's to its total assets required by regulators
Conversion Rat : A cOnversiOn ratc is dcfined as
A 2006 study by web sidc stOry shOwed the

fo1lowing convOrsiOh stats for these mttOr scarch
c gines:AOL
Laffic 6.17%,MSN traffic 6.03%,
Yahoo traffic 4.o7%and Googie traffic 3.83%.

[
F
t
L 1:
r CVen hghe
Mal: l.mnge
:
Core competencies:The particular set of strcngths,
cxpeHencc,
knowledge
and
abilities
that
differentiate a cOmpany from its cOmpctitOrs and
provide
cOmpetitive
advantage.
EInploye
Capital asset pricing model: A method of valuing

assets and calculating the cost of capital (for an
alternative. The capital asset pricing model
(CAPIO has come to dominate modern finance.
Capital controls: govemment-imposed restrictions

on the ability of capital to move in or out of a
country. Examples include limits on foreign
investment in a country's financial markets, on
direct investment by foreigners in businesses or
property, and on domestic residents' investments
abroad. Until the 20th century capital controls
were unco[unon, but many countries
then
imposed them. Following the end of the second

world war only Switzerland, Canada and the
United States adopted open capital regimes.
Ca
161
C)ther Hch countries rrnintained strict controls
and many made theln tougher du ,g thC 1960s

and 1970s.This chang d in the 1980s and early
1990s,whcn most developco count es scrapped
their capital co,trols..
Capitalight:V en capital flows rapidly out of a

country, usually beca,Se solnething happens
which causes investors suddenly to lose
confidencc in its cconomy.(Strictly speaking,
the probleln is not so much the rnoney lcaving,
but rathcr that investorS in general suddenly

lowcr their valuation of all the assets of thc
country.)ThiS iS particularly worying whcn the
flight capital bclongsl to thC COuntry's own
citizcns.This is often ass iated with a sharp fall
ln the exchange rates of the abandoncd country's

currency.
Capital gains:The proit from the salc of a capital
asset,such as a share or a property.Capital gains
are suttcct tO taxation in most COuntrics.Somc

econorllllsts argue that lcapital g,ins ShOuld be
taxed lightly(if at all)comparcd with othcr

sources ofincolne.They argue thatthe less tax is
it did not matter whether a company financed its

activities by issuing debt, or equity, or a mixture
of the two. But, they said, this rule does nor
apply if one source of financing is treated more
favorably by the taxman than another. In the

United States, debt has long had tax advantages
over equity, so their theory implies
rhat
American firms should finance themselves with

debt. Companies also finance themselves by
using the profit they retain after
paying
dividends.
Capital: Money or assets put to economic use, the

life-blood of capitalism. Economists describe
capital as one of the four essential ingredients of
economic activity, the factors of production,
along with land, labor, and
enterprise.
capital
relative to labour are capital intensive; those that
Production processes that use a
lot of
use comparatively little capital are labour

intensive. Capital takes different forms. A firm's
assets are known ag its capital, which may
include fixed capital (machinery, buildings, and
so on) and working capital (stocks of
raw
materials and part-finished products, as well
up quickly in
as
levied on capit1l gains, lhe greater is thc
money, that are used
incendve to put capital to productive use. Put
production process). Financial capital includes

money, bonds and shares. Human capital is the
economic wealth or potential contained in a
person, some of it endowed at birth, the rest the
product of training and education, if only in the
another way,capital gains tax is effcctively a tax
on capitalisln. However, if capital gains are
iVen t00 fricndly a treatmcnt by the tax
autho dcs,accountants will no doubt invent an

s6rts of creative ways to disguisc othcr incolne
as capital gains.
Capital intensive:
that
the oppositc of labor intensive.
Capital llllarkets:Markcts in secu des such as
bonds and shares. Govcmlnents and companles

use them to raisc longcr tcll l capital from
investors, although few of e lLons of
Inarket transactions every day inv01ve the
issucr of the secu ty. NIIost tradcs are in the

secondary IIlarkets,between investors who have
bought the secu ties and other invcstors who

wantto buy them.Contrast with money nlarkets,
where short tellll capital is raised.
Capital strllcture:The COmposition of a company's

IIllXture Of debt and equity inancing. A fillll'3
debt cquity
of life. The invisible glue
of
relationships and institutions that holds
an
university
economy together is its social capital.
A production process
involves comparatively large amounts of capital;
capital
the
ratio is oftcn rcferred to as its
gea ng. Taking on more debt is known as

gca ng up,or increasing lever age.In the 1960s,
Franco Modigliani and Merton Mllcr(19232000)publiShed a seHes of articlcs arguing that
Capitalism: The winner, at least for now, of the

battle of economic 'isms'. Capitalism is a freemarket system built on private ownership, in
particular, the idea that owners of capital have
property rights that entitle them to eam a profit
as a reward for putting their capital at risk in
some form of economic activity. Opinion (arld
practice) differs considerably among capitalist
countries about what role the state should play in
the economy. But everyone agrees that, at the
very least, for capitalism to work the state must
be strong enough to guarantee property rights.
According to Karl marx, capitalism contains the
seeds of its own destruction, but so far this has
proved a more accurate description of Marx's
progeny, communism.
Cartel: An agreement among two or more firms in

the same industry to , co-operate in fixing
PRICES and"/or carving up the market and
restricting the amount of output they produce. It
162
is
particularly corlmon when there is an

oligofly. Ihe aim of such collusion is to increase
profit by reducing competition. Identifying and
breaking up cartels is an important part of the
competition policy overseen by antitrust
watchdogs in most countries, although proving
the existence of a cartel is rarely easy, as firms
are usually not so careless as to put agreements
Clustering: A statistical method of forming natural

groupings in which a number of important
characteristics of a large diverse group are
identified in order to define target markeh. For a
Iibrary such a cluster might include higher
education levels, and income. (Wood and
Koontz)
Community analysis: For a public library this is a

market research exercise reviewing library
to collude on paper. The desire to form cartels is

strong. As Adam smith put it, 'People of the
statistics, population served characteristics, users
same trade seldom meet together, even for

merriment and diversion, but the conversation
ends in a conspiracy against the public or in
and other
'characteristics
stakeholders in the library

to better profile the library's
market area. (Wood and Koontz)
some contrivance to raise prices.'
Collateral: An ASSET pledged by a borrower thar

may be seized by a lender to recover the value of
a loan if the borrower fails to meet the required
Catch-up effect: In any period, the economies of

, countries that start off poor generally grow faster
than the economies of countries that start off
rich. As a result, the national income of poor
countries usually catches up with the national
income of rich countries. New technology may
even allow developing countries to leap-frog
interest charges or repayments.
Collections are not, the library is differentiating the

video collection from the video store.
over industrialized countries with older

technology. This, at least, is the traditional
Command economy: When a government controls

all aspects of economic activity.
economic theory. In recent years, there has been

considerable debate about the extent and speed
of convergence in reality.
Commoditization: The process
Cause-and-effect analysis: (in planning) A method

to help a group examine underlying explanations
(causes) for what they observe (effects).
Census: A complete canvass of a population.
Central bank A guardian of the monetary system.

A central bank sets short-term interest rates and
oversees the health of the financial system,
including by acting as lender of last resort to
commercial banks that get into financial
difficulties. The Federal Reserve, the central
bank of the United States, was founded in 1913.
The Bank of England, known affectionately as
the 'OId Lady of Thread needle Street', was
established in 1694,26 years after the creation of
the world's first central bank in Sweden. With
the birth of the EURO in 1999, the monetary
policy powers of the central banks of 11
European countries were transferred to a new
European central bank, based in Frankfurt.
Closed economy: An economy that does not take
part in intemational trade; the opposite of an
open economy. at the turn of the century about
the only notable example left

economy is North Korea.
of a
closed
of
becoming
commodity. Microchips, for example, started out

as a specialized technical innovation, costing a
lot and eaming their makers a high profit on
each chip. Now chips are largely homogeneous:
the same chip can be used for many things. and
any manufacturer willing to invest in some fairly
standardized equipment can make them. As a
result, competition is fierce and prices and profit
margins are low. Some economists argue that in
today's economy the faster pace of innovation
will make the process of commoditization
increasingly corrrmon.
Communism: The enemy of capitalism and now

nearly extinct. Invented by Karl Marx, who
predicted that feudalism and capitalism would be
succeeded by the 'dictatorship of the proletariat',
during which the state would 'wither away' and
economic life would be organized to achieve
'from each according to his abilities, to
each
according to his needs'. The Soviet Union was the
'
-
most prominent attempt to put communism into

practice and the result was conspicuous failure,
although some modern followers of Marx reckon
that the Soviets rnissed the point.
Community relations: The library's interactions

with the locality in which it operates, with
emphasis on disseminating library-related
irrformation to foster trust in the library or
information organization's activities.
163
ral
ant
lre
ra
lCr
nd

Competition: The rivalry among sellers trying to

achieve such goals as increasing profits, market
share and sales volume by varying the elements
of the marketing mix: price, product, distribution
and promotion. The agency changes to better
meet.consumer wants and needs. For a library
competition may be bookstores, community
events, video stores or even other libraries, oi
other agencies vying for pubtic funds.
services usually deter marketingtype exit
interviews; 3) and little'research is conducted in

this area due to lack of expertise.
Consumer surplus: The difference between what a

consumer would be willing to pay for a good or
service and what that consumer actually has to
pay. Added to produces surplus, it provides a
measure of the total economic benefit of a sale.
you will also need to buy software. Computer
Consumer: The ultimate user of goods, ideas or

services. Also the buyer or decision maker, for
therefore
Contihgency planning: Developing plans to provide
Complementary goods: When you buy a computer,
hardware
and software are
complementary goods: two products, for which
fall) in demand for one leads to

an increase (fall) in demand for the other.
Complements are the opposite of substitute
goods. For instance, Microsoft Windows_based
personal computers and Apple Macs are
Of
rcd
the
ols
altemative plans to the main plan.
an increase (or
rlat
Continuous improvement:
ending process
in
the market place of
products and services. Library user behavior is
in library htlrature under
services are usually located within facility for
studies.
Consumer prices: What people are usually thinking

of when they worry about inflation. The pricei
paid by whoever finally consumes goods or
services, as opposed to prices paid by firms at
various stages of the production process.
Consumer satisfaction: The degree to which a

consumer's expectations are fulfilled or
surpassed by a product. User satisfaction with
library services and materials is often difficult to
determine because: 1) there is no clear ring of
the cash register at rhe end of the day; 2) privacy
ibsues concerning use of library materials and
A non probability sample of

individuals who just happen to be where the
study is being conducted when it is being
conducted. For example, a library. could
interview people exiting the library asking,
'Were you satisfied with the materials and
services, if not why?'
Convenience sample:
Coniumer characteristics: The
Consumer conlidence: How good consumers feel

about their economic prospects. Measures of
average consumer confidence can be a useful,
though not infallible, indicators of how much
consumers are likely to spend. Combined with
measures such as business confidence, it can
shed light on overall levels of economic activity.
easy and quick access.
use
demographic,
lifestyle and personality characteristics of the
consumer. For a library this would be the user.
choosing and adjusting
consumer good and/or

service (such as soap, candy bar, and shoe shine)
that is bought frequently, often on impulse, with
little time effort spent on the buying process. A
convenience product usually is low-priced and is
widely available. For.a public library this type of
material might be newspapers or magazines, or
perhaps a quick selection of other materials with
little browsing or research. These materials or
Consumer behavior: The behavior of the consumer
often captured
of
Convenience product:
Consensus: A feeling within a group that its

conclusion representsl a fair summary of the
conclusions reached by the individual members
of the group. Each individual accepts the group's
conclusion on the basis of logic and feasibility.
decision maker
the
missions, goals, objectives, and action strategies.
substitutes.
or
To raise
performance of an organization through a never-
Copyright: A copyright offers the owner of original

work that can be printed, recorded or ',fixed" in
any manner the sole right to reproduce and
distribute the work, to display or perform it and
to authorize other to do so., during the author's
lifetime and for fifty years thereafter.
Core product: The central benefit or purpose for
which a consumer buys a product or service. The
core product varies from purchaser to purchaser.
For a library user the core benefit of checking

out a book, may be for one user that there is no
charge, and to another the availability of a work
which can no longer be purchased.
Correlation analysis: A statistical technique used to

measure the closeness of the linear relationship
between two or more interval scaled variables. For
164
example public library use has a close linear

of higher education and
relationship with people

income.
be paid in the futurc.
Cost of capital: The amount a firm must pay the

owners of capital for the privilege of using it.
This includes interest payments on corporate
debt, as well as the dividends generated for
shareholders. In'deciding whether to proceed
with a project, FIRMS should calculate whether
the project is likely to generate sufficient
revenue to cover all the costs incurred, including
the cost of capital. Calculating the cost of equity
capital can be tricky.
Cost-benefit analysis: A method of reaching

economic decisions by comparing the costs of
doing something with its benefits. It sounds
simple and common-sensical, but, in practice, it
can easily become complicated and is much
abused. With careful selection of the
assumptions used in cost-benefit analysis it can
be made to support, or oppose, almost anything.
This is particularly so when the decision being

con templated involves some cost or benefit for
whieh there
is no market pRICE or
which,
fully reflected in
the market price. Typical examples would be a
project to build a hydroelectric dam in an area of
outstanding natural beauty or a law to require
factories to limit emissions of gases that may
cause ill-health.
because of an externality, is not
Credit: A loan extended or (sometimes) taken by,

for example, delayed payment of an invoice.
Credit creation: Making loans. Often the amount of

credit creation is subject to regulation. Icnders
may have limits on the amount of loans they can
make relative to the assets they have, so that
they run little risk of bankruptcy. A central bank
tries to keep the amount of credit creation below
the level at which it would increase the money
supply so much that inflation accelerates. This
was never easy to get right even when most
Iending was by BANKS, but it has become much
harder with the recent growth of non-bank
lending, such as by credit-card companies and
retailers. Missing text
Credit crunch: When banks suddenly stop lending,

or bond market liquidity evaporates, usually
because creditors have becomJ extrcmely risi<
averse.
CreditOr: A lender, whcther by making a loan,

buying a bond or a110wing money Owed nOw tO
CHtical
path
.Datab
an
de
methOd: (in
planning
and
prograIImng)A method ofscheduling to shOw a

logical and efficient Order of activities and
events,
an
lib
ca.
sol
mi
Crony capitalism:An aplrOach to business based

on looking after yourself by looking Out for y9ur
own.At least until the c sis Of thc late 1990s,
some Asian companies, and evcn govemments,

were notable for aWarding contracts only to
family and fdends.This was often a folll1 0f
Deadv
OD,
re(
inc
pa
WC
comption,resulting in econoIIllc inefficiency.
be
Cross Training:CrOss training is training someOnc

in anothcr activity that is related tO thcir curent
sul
ins
work. The nalne comes fronl the fact that yOu
pe(
are tralning thcm acrOss a broadcr spcctrum of
an.
the organizatiOnts wOrk.
Decenr
Crowding out:when the state docs s6mething it

may discOurage, Or crowd out, p vatc sector
of
ne)
attcmpts tO dO thc salnc thing.At limQs,
19!
cxcessive
wh
gOvemment
borrowiig
has
been
blamed fOr low pnvate sector bOrrowing and,
des
consequently,10w investttnt and oeCausc the
cer
cconorrllc rctums On public borrowing are
libr
typically 10wer than thosc on p vat dcbt,

especillly COrporate debt)s10Wer ecOnoIIllc
Decent
growth: This has becolne less of a concern in
rccent ycars as gOvemment indcbtedness has

declined and, bccause of globalizatiOn,
1 11ls
ma
go'
go'
have becolne morc able to raisc CAPrrAL
Decisio
outside their holne 9oun,y.9rOWding Out may
SYS
also colne from state spending on things that
col
mght be providedl lnorc cfficLntly by thc
sof
p vate se tor,
gat
such as he,lth care, or even
through cha ty,redistribution:
bus
Culture: The set of l amed valucs, norlns, and

behaviors that are sharcd by a socicty and arc
designed tO increaS the prObability of the

socicty's survival. Thesc include shared
bas
difl
int
anc
superstitions, mythl, folkways, InOres ànd
ull
behavior pattems that arC rewarded or punishea.
a8r
For libranes, the understanding pf differcit l

culturcs,as new iIIlmgrant groups FnOVe intO the l
markct arca is extreFnely impo ant tO takc into l
considcration,in 6rdcr tO pro dc the needcd l

mate als
and services.
'ifl
pay
the
def
rat
loar
SOn
oft
165

A compendium of information on current

and prospective users that usually includes
demographic data as well as use data, volume
Database
called "point-of-sale (use) data and is a rich

source of marketing data for library
management.
,d
s,
S,
:o
rf
Deadweight cosUloss: The extent to which the value

and impact of a tax, tax relief or SUBSIDY is
reduced because of its side-effects. For instance,
increasing the amount of tax levied on workers'
pay will lead some workers to stop working or
work less, so reducing the amount of extra tax to
be collected. However, cieating a tax relief or
subsidy
.
)
to
encourage people
to buy life
insurance would have a deadweight cost because

people who would have bought insurance
anyway would
benefit.
Decennial census kr the U.S. this is a complete count

of the population every ten years. For example the
next count is the year 2000, and previous years
1990, 1908, etc. There is also a sample census
which is taken for hundreds of other population
descriptive characteristics. For ttre library field
census data are identified that srongly indicate
library use through research.
Decentralization: The distribution of decision

rdaking and operations to lower levels of
,
I
government
(and
sometimes
non-
worth less than imports and transfer'outflows.
Defined Benefit Plap: A retircment plan that

participants a liimp-sum arhriunt that has
calculated using formulas that can include
earnings and length of service.
Defined Contribution: A pension plan that clearly

defines the amount of contributions, which is
usually a percentage of an employee's salary'
The benefits payable at retirement depend on
several factors including future investment

return and annuity rate at retirement.
Deregulation: The removal or revision of laws that

regulate the supply of goods and services.
Direct Marketing: Direct marketing is a sales

method by which advertisers approach buyers
directly with products or services. The most
cortmon forms of direct marketing are telephone
sales, emails and
print (e.g., catalogs,
brochures). Successful direct marketing also

involves renting or compiling / maintaining a
database of qualified buyers. According to the
Direct Marketing Association, average response
rates for print direct mail (flat mail) are 2.73Vo),
catalogs are 2.45Vo and E-mail is l.l27o'
Hrmarketer.com research shows emails that offer
a compelling "of[er" in the form of a free
governmentalorganizations).
Decision support'system (DSS)
,
,
to
and content. This is a privacy issue in American

libraries. The address data of library users Chn be
Deficit: In the red - wheh more rnoney goes out than

comes in. A budget deficit occurs when public
spending exceeds. government revenue. A
current account deficit occurs when exports and
inflows from private and official tranSfer are
A decision
support
systematic
system (marketing definition) is a

collection of data, techniques and supporting
software and hardware by which an organization
gathers and interprets relevant information from
business and the environment and turns it into a
basis for making management decisions. A DSS
differs from a management information system
in that it is designed to answer precise questions
and what/if questions.
befault:Failure to fulill thc terlns of a loan

. agreement. For example, a borrower is in default
if he or she does not make scheduled interest
payments on a loan or fails to pay off the loan at
the agreed time. Judging the likelihood of

default is a crucial part of pricing a loan. Interest
rates are set so that, on average , a portfolio of
loans will be profitable to the creditor , even if
some individual loans are loss-making as a result
of borrowers defaulting.
downloadable white paper or research report (on
a topic that resonates with your buyer) are

significantly more likely to generate a response
than promotional offers'
In all
industnes,
marketers are shifting their spending from brand
building tactics like print advertising to direct

response-oriented promotional channels such as
direct marketing and interactive marketing
(online advertising). The hrmarketer.com
research report Trends in I{R Marketing
(http //www.hrmarketer.com/tr ome/whitepaper-m
:
ain2.htm) verifies
this trend in the HR
marketplace
Disability: The inability to perform all or part of

one's occupational duties because of an accident
or illness. This can be due to a sickness, injury
or mental condition and does not necessarily
have to have been caused by the joti itself.
Disability Income Insurance: Health insurance that
is paid to a policyholder who experiences a loss
of income due to an injury or an illness'
Disability insurance plans pay a portion of the

salary of a disabled worker until his/her
retirement age.
Disciplinary procedure: A standardized process

that an organization commits to when dealing
with an employee who has breached the terms of
A graph showing the relati

between the price of a good and the amount
demand for it at different prices.
Demand curve:
Demand The number of units of a product sold

market over a period of time.
employment
in some way. If this procedure is

not standardized and fair, the organization may
Demarketing The process of reducing the

for a product--or decreasing consumption.
face discrimination or other legal charges.
Deming Cycle The Deming Cycle is a set

activities (Plan, Do, Check, Act) designed
drive continuous improvement. Initi
Discrimination: The favoring of one'group of

people, resulting in unfair treatment of other
implemented
groups.
Disease Management:
An
information-based
process involving the continuous improvement of

care (prevention, treatment and management)
throughout the delivery of health care. Effective

disease management can mean decreased health
care costs.
Distance Learning: Educational programs using

instruction via video or audio tapes, computers
etc. Instead of attending a class in one
centralized location.
Distributive bargaining:
negotiation between.
competing parties that involves the distribution
of resources. One party prevails, to the detriment
of the other.
Dual Labor Markets: a situation in an organization
where
smaller Core Labor Force and
Due diligence: In mergers and acquisitions, the

process of carefully investigating the details of
an investment or purchase to assess risk and
Delegation:
The transfer of planning and
management functions to organizations which

are funded by a central government, but which
do not come under its operational control.
(in
management science)
Organizational arrangements to provide program

services to the interest groups (activities,
information, materials, physical outputs, etc.).
Delphi technique - A frequently used method in

futures research to gain consensus opinion
'among experts about likely future events,
through a series of questionnaires.
Delphi: (in forecasting the future)
method of
obtaining forecasts from a panel of experts.
Demographics Objective
characteristics
consumers such as age, income, education,
or occupation (Assael.) For public libraries
the US, most relevant demographics
education and age.
Deposit insurance: Protection for your savings,

case your bank goes Bust. Arrangements
around the world, but in most countries
insurance is required by the government
for by banks (and, ultimately,

customers), which contribute a small slice
their assets to a central, usually governmentinsurance fund. If a bank defaults, this
guarantees its customers' deposits, at least up
paid
certain amount.
By
reassuring
ba
customers that their cash is protected,

insurance aims to prevent them fiom panicki
and causing a bank run, and thereby red

systematic risk. The United States i
in 1933, after a massive bank panic led
widespread 'bankruptcy,
deepening
depression.
Depreciation: A fall in the value of an asset
fro
a
pol
re8
for
be
Ec
rhi
ris
co
let
ha
wi
un
ot
currency; the opposite of appreciation.
A bad, depressingly
in economic activity. The te
definition of a recession is two
Depression:
recession
quarters of declining output. A slump is

output falls by at least lOVo; a depression is
even deeper and more prolonged slump.
Deregulation: Cutting red tape. The process

removing legal or quasi-legal restrictions on
amount of competition, the sorts of
done, or the prices charged within a part
industry. During the'last two decades of the
Delivery system:
Walter Shewhart, it is more commonly called

Deming cycle in Japan where it was populari
by Edwards Deming.
potential value and reward.
in manufacturing, it has
in business. First developed
Peripheral Labor Force co-exist.
applicability
166
165
t,
Database
.o
'
A compendium of information on current

and prospective users that usually includes
demographic data as well as use data, volume
'
and content. This is a privacy issue in American

libraries. The address data of library users cbn be
d
a
called "point-of-sale (use) data and is a rich

source of marketing data for library
rd
management.
Deadweight cost/loss: The extent to which the value

and impact of a tax, tax relief or SUBSIDY is
reduced because of its side-effects. For instance,
increasing the amount of tax levied on workers'
pay will lead some workers to stop working or
work less, so reducing the amount of extra tax to
be collected. However, cr'eating a tax relief or
subsidy
to
encourage people
to buy life
insurance would have a deadweight cost because

people who would have bought insurance
anyway would benefit.
,.
r
Decennial census kr the U.S. this is a complete count

of the population every ten years. For example the
next count is the year 2000, and previous years
1990, 1908, etc. There is also a sample census
which is taken for hundreds of other population
descriptive characteristics. For ttre library field
census data are identified that srongly indicate
ir
or
)s,
en
rd,
he
library use through research.
rre
Decentralization: The distribution of decision

' ntaking and operations to lower levels of
goveinment (and sometimes to non-
bt,
uc
in
ras
governmental organizations).
TIS
Decision support'system (DSS)
\L
.ay
system (marketing
rat
collection
A decision
support
definition) is a systematic
of data, techniques and
supporting
software and hardware by which an organization
gathers and interprets relevant information from
business and the environment and tums it into a
basis for making management decisions. A DSS
.he
'en
differs from a management information system

in that it is designed'to answer precise questions
and what/if questions.
: Failure to fulfill the terms of a loan

agreement. For example, a borrower is in default
if he or she does not make scheduled interest
payments on a loan or fails to pay off the loan at
'
the agreed time. Judging the likelihood of

default is a crucial part of pricing a loan. Interest
rates are set so that, on average , a portfolio of
loans will be profitable to the creditor , even if
some individual loans are loss-making as a result
of borrowers defaulting.
Deficit: In the red - wheh rnore rnoney goes out than

comes in. A budget deficit occurs when public
spending exceeds. government revenue. A
current account deficit occurs when exports and
inflows from private and official transfer are
worth less than imports .and transfer'outfl ows'
Defined Benefit. Plap: A retirement plan that pays

participants a liimp-sum arhount that has been
ialculated using formulas that can include age,
earnings and length of service.
Defined Contribution: A pension plan that clearly

defines the amount of contributions, which is
usually a percentage of an employee's salary'
The benefits payable at retirement depend on
several factors including future investment
retum and annuity rate at retirement.
Deregulation: The removal or revision of laws that

regulate the supply of goods and services.
Direct Marketing: Direct marketing is a sales

method by which advertisers approach buyers
directly with products or services' The most
corlmon forms of direct marketing are telephone
sales, emails and
print (e.g.,
catalogs,
brochures). Successful direct marketing also

involves renting or compiling / maintaining a
database of qualified buyers. According to the
Direct Marketing Association, average response
rates for print direct mail (flat mail) ate 2.73Vo),
catalogs are 2.45Vo and E-mail is l.l27o'
Hrmarketer.com research shows emails that offer
a compelling "offer" in the form of a free
downloadable white paper or research report (on
a topic that resonates with your buyer) are
significantly more likely to generate a response
than promotional offers.
In all
industries,
brand
from
their
spending
are
shifting
marketers
building tactics like print advertising to direct

response-oriented promotional channels such as
direct marketing and interactive marketing
(online advertising). The
hrmarketer.com
Marketing
(http ://www.hrmarketer.com/home/wh itepaper-m
ain2.htm) verifies this trend in the HR
research report Trends
in IIR
marketplace
Disability: The inability to perform all or part of

one's occupational duties because of an accident
or illness. This can be due to a sickness, injury
or mental condition and does not necessarily
have to have been caused by the jo6 itself.
Disability Income Insurance: Health insurance that
is paid to a policyholder who experiences a loss
of income due to an injury or an illness.
Disability insurance plans pay a portion of the

salary of a disabled worker until hisftrer
retirement age.
Disciplinary procedure: A standardized process

that an organization commits to when dealing
with an employee who has breached the terms of
graph showing the
between the price of a good and the amount

demand for it at different prices.
Demand The number of units of a product sold i

market over a period of time.
employment
in some way. If this procedure is

not standardized and fair, the organization may
Demarketing The process of reducing the de

for a product--or decreasing consumption.
face discrimination or other legal charges.
Deming Cycle The Deming Cycle is a set

activities (Plan, Do, Check, Act) designed
drive continuous improvement. Initi
Discrimination: The favoring of one'group of

people, resulting in unfair treatment of other
groups.
Disease Management:
An
information-based
process involving the continuous improvement of

care (prevention, treatment and management)
throughout the delivery of health care. Effective

disease management can mean decreased health
care costs.
Distance Learning: Educational programs using

instruction via video or audio tapes, computers
etc. Instead of attending a class in one
centralized location.
Distributive bargaining:
negotiation between.
competing pafties that involves the distribution

of resources. One party prevails, to the detriment
of the other.
Dual Labor Markets: a situation in an organization
where
smaller Core Labor Force and
Due diligence: In mergers and acquisitions, the

process of carefully investigating the details of
an investment or purchase to assess risk and
Delegation:
The transfer of planning and
management functions to organizations which

are funded by a central government, but which
do not come under its operational control.
science)
Organizational arrangements to provide program

services to the interest groups (activities,
information, materials, physical outputs, etc.).
Delphi technique - A frequently used method in

futures research to gain consensus opinion
'among experts about likely future events,
through a series of questionnaires.
Delphi: (in forecasting the future)
method of
obtaining forecasts from a panel of experts.
Walter Shewhart, it is more commonly called

Derrung cycle in Japan where it was populari
by Edwards Deming.
Demographics Objective
characteristics
consumers such as age, income, education,
or occupation (Assael.) For public libraries
the US, most relevant demographics
education and age.
Deposit insurance: Protection for your savings,

case your bank goes Bust. Arrangements
around the world, but in most countries
insurance is required by the government
paid for by banks (and,
ultimately,
customers), which contribute a small slice
their assets to a central, usually government
insurance fund. If a bank defaults, this
guarantees its customers' deposits, at least up
a certain amount. By
reassuring
customers that their cash is protected,

insurance aims to prevent them from panicki
and causing a bank run, and thereby

systematic risk. The United States introd
in 1933, after a massive bank panic led
widespread bankruptcy,
deepening
depression.
Depreciation: A fall in the value of an asset

currency; the opposite of appreciation.
Depression:
A bad,
in
depressingly
pol
re8
for
be
Ec
rhi
ris
co
let
ha
wi
un
ot
Pro
economic activity. The

definition of a recession is two
quarters of declining output. A slump is
output falls by at least IOVo; a depression
recession
fro
is
even deeper and more prolonged slump.
Deregulation: Cutting 'red tape. The process

removing legal or quasi-legal restrictions on
amount of competition, the sorts of busi
done, or the prices charged within a
industry. During the'last two decades of the
Delivery system: (in management
applicability
in manufacturing, it has
in business. First developed
potential value and reward.
implemented
Peripheral Labor Force co-exist.
Demand curve:
166
167
Developing countries: A euphemism for the world's

poor countries, also. known, often optimistically,
as emerging economies' Some four-fifths of the
world's 6 billion people already live in
.ry, many govemments committed to the

market pursued policies of liberalization
6i sttsttttial lmOunt
of dercgulation
L-hand with the privatization of industries
'
by the state. The aim was to decrease, the
o{
government
in the economy
and to
than one-fifth of total world GDP.
alive
me conrpetition. Even so, red tape is
Developing country Characteristics: 1) more than

33Vo of the population is engaged in agriculture,
less than 3O7o of population is urbanl 2) at least
5OVo of population is literate; and 3) highly
wgll.In the United StatoS,With solne 60
ral agencies issuing more than 1,800 rules a

, in lgq8 the Code of Federal Regulations
more than 130,000 pages thick' However'
all regulation is necessarily bad' Ac-cording^
bstirnites
developed industrial sectors and consumer

markets of significant per capita size'
Development economics: Spawned'by the end of
the colonial era in the 1950s and 1960s, a whole
branch of economic theory grew up around the
by the American Office of
an Budget,the annud cost O:

hies was$289 LilliOn,but the lnnual
wcrc$298 billion.
Financial assets that, 'derive' their value

other assets. For example, an option to buy
question
nts
S
nent
ly,
Sl
nent
his
ast
sI
Fttl
F
vttvtta
,risk-and bettei risk management' However' they
the
,''concede that when derivatives are misused
them can
'leverage that is often an integral part of
'have devastating consequences' So they come
if
you don't
ve research A research design in which the

major emphasis is on determining the frequency
wiitr wtrictr something occurs. For example, how
often users access the Internet in a given month'
merchandise A tYPe of merchandise

that motivates or triggers a trip to a specific
store. A library's.special collection on African
history is an example. This is also a 'specialty
good.
tex
rsecuti
iS
on ls
thc
sudden
fall in the value of
currency against other currencies' Strictly,

deduaiion refers only to sharp falls in a
currency within a fixed exchange rate system'
Also ii usually refers to a deliberate act of
govemment policy, although in recent years
ieluctant devaluers have blamed financial
speculation. Most studies of devaluation suggest
that its beneficial effects on competitiveness are
only temporary; over time they are eroded by

higher PRICES (see J-CURVE).
economic
development
economists argued, for instance, that the selfinterested, rational individual did not exist in
more precise pricin-g of financial
with an economists'health warning:

uriderstand it, don't use it'
promote
economic models. Some
sf 1 g
allowing
,thing,
of how to
development in poor countries' The proposition

on which development economics was built was
that poor countries were intrinsically different
from rich ones and so needed their own set of
T arc tt de Ved from tte share.SOT?

icians and others responsible for financial
Vln
developing countries, many of them in abject

poverty. Developing countries account for less
traditional tribal societies.'They claimed that

because many poor countries had large
agricultlrral populations and were often
dipendent on a few commodity exports for
foieign exchange earnings, economic policies
that iuited rich countries would not work for
them. With hindsight, much of this was
misguided, and policies based on it had
disastrous effects. Development economists
believed that the state had to play a big role in
fostering modernization. Instead, the result was
huge, inefficient bureaucracies riddled with
comrption, massive budget deficits and rampant
inflation. During the 1990s, most governments
of developing countries started to reverse these
policies and undo the damage they had done by
introducing policies based on similar economic
models
to
those that had worked
in
rich
countries. However, the sequencing of these new

policies seemed to make a big difference to how
well they worked. Doing the right things in the
right order is crucial'
Diffusion model A model representing the contagion

or spread of something through a population'
(Examples: spread of air conditioning in Florida
and subsequent population growth, and spread of
Library of Congress pre-printed cards to
American libraries.) Mathematical formulations
are available to predict spread/growth'
168
Diffusion of innovation The spread of innovation

with a market group in stages--innovators (257o), early adopters (I}-lSVo), early majority
(next 35Vo), late majority(next 35Vo), and
laggards (final S-lOVo,) Fair amount , of
disagreement about the percentages.
Diminishing returns: The more you have,
the
smaller is the extra benefit you get from having

even more; also known as diseconomies of scale.
For instance, when workers have a lot of capital
giving them a little more may not increase their
productivity anywhere near as much as would
giving the same amount
to
workers who
currently have little or no capital. This underpins
the catch up effect, whereby there is
(supposedly) convergence between the rates of

growth of developing countries and developed
ones. In the new economy, some economists
argue, capital may not suffer from diminishing
returns, or at least the amount of diminishing
will be much smaller. There may even be ever
increasing returns.
Direct marketing: Malketing efforts, in

directed toward a specific targeted
total
group-direct
selling direct mail, catalog or cable-for

soliciting a response from customer. A library
may mail a library registration card to every new

mother in the hospital.
Direct taxation: Taxes levied on the income or

wealth of an individual or company. Contrast
within direct TAXATION. In much of the world,
direct tax rates fell during the 1980s and 1990s,
partly because some economists argued that high
rates of tax on income discouraged people from
working, and.that high rates of tax on profit

encouraged companies to move to countries with
lower rates. Furthermore, high rates of income
tax were viewed as politically unpopular. Even
so, although rates were cut, because both
personal income and corporate profits grew
steadily throughout this period the total amount
collected via direct taxation continued to rise.
Fronomists often disagree about which of direct
taxes or indirect taxes are the least inefficient
method of taxation.
Directional and departmental signage A signage
system that helps guide the library user through
the library and locate specific 'departments of
interest.
Discount rate: The rate of interest charged by a

central bank when lending to other financial
institutions.
It
also refers
to a rate of
in
used when calculating discounted cash flow.
Discounted Cash Flow Discounted cash flow
sophisticated technique used
is
by
financi
analysts. Despite its complexity, discounted
flow analysis is based on a simple idea
cash today is worth more than cash promised

the future.
Discounted cash flow: How much less is a sum
money due in the future worth today?

answer is found by discounting the future
flow, using an interest rate that reflects the
that money in future is worth less than
now, because money now could be invested
eam interest, whereas future money
Firms use discounted cash flow to judge
an investment project is worthwhile. The in
rate is a means of reflecting the opportunity
of tying up money in the investment project. Ti

test whether an investment makes
sense the income must be discounted so that
can be measured against the costs.
value
of the
If
the
benefits exceeds the'costs,
investment is a good one.
Disequilibriirm: When supply and demand in

market dre -not in balance. Contrast wi
equilibrium.
Disinflation: A fan in thc ratc of inflation.
means a slower increase in prices but not a

in prices, which is known as deflation.
Disintermediation: Cutting out the middle

Disintermediation has become a buzz word
financial services in particular, as
and technological changes have done away wi
the need for established intermediaries. Ba

have seen much of their business slip away,
as lending to companies that now tap capi
market direct. New economy theorists a
that many retailers would be dis-intermedi
as the intemet enabled customers to tra
directly with producers without needing to visit
shop. But this has happened more slowly
they predicted.
Display A special exhibit of a product or service

the point of sale, generally over and
standard shelf stocking. Simply books place
display over specific subject areas.
Distribution The marketing and carrying of

to customers (bookmobiles, facilities,
loan.)
167
Developing countries: A euphemism for the world's

poor countries, also..known, often optimistically,
as emerging economies' Some four-fifths of the
ury, many governments committed to the

market pursued policies of liberalization
I su6stantial
lmounts Of dereguladon
.hand with the privatization of industries
the
d by the state. The aim was to decrease,
of
government
'
in the economy
3nd..to
Jonrpetition. Even so, red tape is alive
well. In-the United States, with some 60
,ral agencies issuing more than 1,800 rules a
-1998
the Code of Federal Regulations
', in
more than 130,000 pages thick' However'
all regulation is necessarily bad' According
,ase
estimites
' question of how to promote
Financial asSetS that lde Vei their valuc
hm other assets' For example, an option to buy
derivatives
igulation blame the growing use
and for
prices,
asset
in
il increasirg volatility
ly,
Sh
hent
his
ast
' VV17
)anlcki
rduced
led
rg
economic models. Some
v::1:aT
L sf 1 g
l
tttf
traditional tribal societies.'They claimed that

because many poor countries had large
the
'concede that when derivatives are misused
can
them
of
leverage that is often an integral Plrt
have levastating consequences' So they come

with an economists' health warning: if you don't
understand it, don't use it.
ve research A research design in which the

major emphasis is on detprmining the frequency
wiifr wnlctr something occurs. For example, how
often users access the Intemet in a given month'
merchandise A tYPe of merchandise

that motivates or triggers a trip to a specific
store. A library's special collection on African
good.
:A
sudden
fall in the value of
currency against other currencies' Strictly'

devqluation refers only to sharp falls in a
currency within a fixed exchange rate system'
Also ii usually refers to a deliberate act of
governinent policy, although in recent years
ieluctant devaluers have blamed financial
speculation. Most studies of devaluation suggest
)cess
iS On
bu
artl
the
that its beneficial effects on competitiveness are
only temporary; over time they are eroded by

higher PRICES (see J-CURVE).
development
economists argued, for instance, that the selfinterested, rational individual did not exist in
history is an example. This is also a 'specialty

sset Or
economic
development in poor countries. The proposition

on which development economics w-as built was
that poor countries were intrinsically different
from rich ones and so needed their own set of
niCtts cStthn
of
ncnt
in
developing countries, many of them in abject

poverty. Developing countries account for less
than one-fifth of total world GDP'
developed industrial sectors and consumer

markets of significant per capita size'
Development economics: Spawned'by the end of
the colonial era in the 1950s and 1960s, a whole
branch of economic theory $ew up around the
by the American Office of
its werc S298 billion.
nts
6 billion people already live
Developing country Characteristics: 1) more than

33% of the population is engaged in agriculture,
less than 3O7o of population is urbanl 2) at least
5O7o of population is literate; and 3) highly
ana Budget,the annual cost Of

rules was $289 billion, but the annual
Vl
world's
agricultural populations and were often

dipendent on a few commodity exports for
foreign exchange earnings, economic policies

that suited rich countries would not work for
them. With hindsight' much of this was
misguided, and policies based on it had
disastrous effects. Development economists
believed that the state had to play a big role in
fostering modernization. Instead, the result was
huge, inefficient bureaucracies riddled with
comrption, massive budget deficits and rampant
inflation. During the 1990s, most governments
of developing countries started to reverse these
policies and undo the damage they had done by
introducing policies based on similar economic
models
to
those that had worked
in
rich
countries. However, the sequencing of these new

policies seemed to make a big difference to how
well they worked. Doing the right things in the
right order is crucial'
Diffusion model A model representing the contagion

or spread of something through a population'
(Examples: spread of air conditioning in Florida
and subsequent population growth, and spread of
Library of Congress pre-printed cards to
American libraries.) Mathematical formulations
are available to predict spread/growth'
168
Diffusion of innovation The spread of innovation

with a market group in stages--innovators (25Vo), early adopters (lo-l1%o), early majority
(next 35Vo), late majority(next 35Vo), and
laggards (final S-lOVo.) Fair amount, of
Diminishing returns: The more you have,
the
smaller is the extra benefit you get from having

even more; also known as diseconomies of scale.
For instance, when workers have a lot of capital
giving them a little more may not increase their
productivity anywhere near as much as would
giving the same amount to workers who
currently have little or no capital. This underpins
the catch up effect, whereby there is
(supposedly) convergence between the rates of

growth of developing countries and developed
ones. In the new economy, some economists
argue, capital may not suffer from diminishing
retums, or at least the amount of diminishing
will be much smaller. There may even be ever
increasing retums.
directed toward a specific targeted
It
also refers
to a rate of
used when calculating discounted cash flow.
Discounted Cash Flow Discounted cash flow
sophisticated technique used
by
is
fi
analysts. Despite its complexity, discounted
disagreement about the percentages.
Direct marketing: Marketing efforts, in
institutions.
total
group-direct
selling direct mail, catalog or cable*for

soliciting a response from customer. A library
may mail a library registration card to every new
mother in the hospital.
Direct taxation: Taxes levied on the income or

wealth of an individual or company. Contrast
within direct TAXATION. In much of the world,
direct tax rates fell during the 1980s and 1990s,
partly because some economists argued that high
rates of tax on income discouraged people from
working, and that high rates of tax on profit

encouraged companies to move to countries with
lower rates. Furthermore, high rates of income
tax were viewed as politically unpopular. Even
so, although rates were cut, because both
personal income and corporate profits grew
steadily throughout this period the total amount
collected via direct taxation continued to rise.
Economists often disagree about which of direct
taxes or indirect taxes are the least inefficient
method of taxation.
Directional and departmental signage A signage

system that helps guide the library user through
the library and locate specific .departments of
interest.
Discount rate: The rate of interest charged by a

central bank when lending to other financial
flow analysis is based on a simple idea cash today is worth more than cash promised
the future.
Discounted cash flow: How much less is a sum
money due in the future worth today?

answer is found by discounting the future
flow, using an interest rate that reflects the
that money in future is worth less than
now, because money now could be invested
earn interest, whereas future money can
Firms use discounted cash flow to judge whe
an investment project is worthwhile. The i
rate is a means of reflecting the opportunity
of tying up money in the investment project. T
test whether an investment makes
sense the income must be discounted so that
'ian
be measured against the costs.
value
of the
If
the prese
benefits exceeds the costs,
investment is a good one.
Diseqrtili[pium: When supply and demand in

market are .not in balance. Contrast w
equilibrium.
Disinflation: A fan in thc ratc of inflation.
means a slower increase in prices but not a

in prices, which is known as deflation.
Disintermediation: Cutting out the midd

Disintermediation has become a btzz word it
financial services in particular, as competiti
and technological changes have done away wi
the need for established intermediaries.
have seen much of their business slip away,
as lending to companies that now tap capi
market direct. New economy theorists a

that many retailers would be dis-intermedi
as the intemet enabled customers to
directly with producers without needing to visit
shop. But tl'tis has happened more slowly
they predicted.
Display A special exhibit of a product or service

the point of sale, generally over and abo
standard sheif stocking. Simply books place
display over specific subject areas.
Distribution The marketing and carrying of

to customers (bookmobiles, facilities, li
loan.)
169
effects: The ways
in which Your
Dummy:
s ifttd
population.
in
Diversification (Wood) - Extends skills or experience

from current product or market activities rather
;r .than covering totally unfamiliar territory.
Customized' online searches by reference

librarians would extend their current research in
print skills.
Diversification: Not putting all your eggs in one

basket. Investors are encouraged to do this by
I modem pOrtfollo thebry, as holding sevcral
.' diff"r"nt ihares and othei assets helps to reduce
ly?
tlre
the
[. InergCrs have found ttat these oien hurt the
rlty
eCt
sharcholders of the acluiring 11..;by contra,t,
diversificd firrns that.have sold off non core
bus csses
havc typicany mad,
sharcholders much bettcr off.
that
PRICES in its market
Preliminary layout for an ad, or other print
Dumping: Selling something for less than the cost of

producing it. This may be used by a dominant to
strategy known to antitrust

predatory. Participants in
intemational trade are often accused of dumping
by domestic firms charging more than rival
imports. Countries can slap duties on. cheap
imports that they judge are being dumped in
their markets. Often this amounts to thinly
disguised protectionism against more efficient
a
authorities as
attack rivals,
foreign firms.
Dwell time The amount of time a customer/user

spends in time waiting in line. For a library user
this is a price expended.
Dwelting unit A single home or other unit in which

a cohesive set of individuals reside, and typically
many good s are purchased in common.
employee benefit that covers all

: 1 T[rld EAP:orAnpartEAPof isthe cost
for employees to receive
:: t1: counseling, referrals, and advice in dealing with
in their lives. These may include
stressful
bereavement, marital problems,
a :I:
T
cili

or general wellness
weight
I
: t Earnings Statement: An Earnings Statement is
an
n. Thi
)t a fii
petiti
issues
substance abuse,
issues,
l ::LtiFtClctt
lleman.
vord
eldblttWtR
llll1:L
ytt h a
E)ivision of libor:Pcopl are bctter off spccializing

than trying to be jacks of all trades and ending
ay w
Banks
y,
up masters of none.The logic of oividing the

workforce into differcnt crafts and prOfcssions is
capl
the same as that und rpinning the casO for frec
tradei cverybody bcncits fronl doing those

edi
r
things in which they have a comparative
visit
[y
advantagc and using incolne from doing so to

a
rneet their other needs.
than
DouarizatiOn: When a country's own moncy is
'vlce at
above
ace on
A firm with the ability to set
material.
jl
Dominant firm:
replaced as its citizen prefered currency by the
US dollar.This can be a dcliberatc govcmmcnt

policy or the rcsult of IIlany p vatc choices by
buycrs and sellers(for instance,at the first sign
of trouble, investors
across Latin Arnc ca
generally flec intO d01lars). hen it is
govcrnlnent policy,dolla zation is,in essence,a

bccfed up currcncy board.
issues.
standard financial document that summarizes a

company's revenue and expenses for a specific
period of time, usually one quarter of a fiscal

year and the entire fiscal year.
'An
employer-sponsored program that is

EAP:
designed to assist employees whose job
performance is being adversely affected by such
personal stresses as substance abuse, addictions,
marital problems, family troubles, and domestic
violence. For every dollar invested in an EAP,

employers save approximately $5 to $16. The
average annual cost for an EAP ranges from $12
to $20 per employee. Source: US Department of
Labor.
E-Recruitment: Web-based software that handles

the various processes included in recruiting and
on boarding job candidates. These may include
workforce. planning, requisitioning, candidate
acquisition, applicant tracking and reporting
(regulatory or company analytics).
170
E-Learning: E-learning is a method of education via

the Intemet or other computer related resources.
It presents just-in+ime information in a flexible
learning plan. E-learning can be combined with
' face-to-face
courses for a blended learning
ERISA '(Employment Retirement

Security Act): A federal law that
Emotional Intelligence: Based on the book of the

same name by Daniel Goleman, Emotional
Intelligence is the ability to recognize, assess
duty.
and manage their own and others' emotions.
Tests used to help

pre-hire situations to select
employers
in
ERP: Short for enterprise resource planning,
promote people into appropriate positions. Types

assessments include those
determine
personality, aptitude and skills.
communicating
with
employees, processing
Employee retention: Practices and policies designed
to
the growing popularity of
to
grievances/disputes, etc.
create
work environment that
makes
employees want to stay with the organization,

thus reducing tumover.
Employee Self-Service: A program that allows

employees to handle many job-related tasks
normally conducted by HR departments
including benefits enrollment, and updating
personal information. Employees can access the
information through the company's intranet,
kiosks, or other Web-based applications.
Employment Branding:
strategy designed to
make an organization appealing as a good place

to work. This targeted marketing effort utilizes
both print and Internet tactics and attempts to
shape the perceptions of potential employees,
current employees and the public / investment
community.
Empowerment: Giving employees the resources,

skills and authority necessary to share power
with management and make decisions.
Employees are then held accountable for their
decisions and rewarded if appropriate.
Enterprise Compensation Management (ECM):

The automation of the compensation process to
assist organizations in the acquisition,
management and optimization of its workforce.
EI
is
can provide employees with effective training,

assist managers in becoming more effective, and
Employee Relations: Developing, maintaining, and

improving the relationship between employer
and employee by effectively and proactively
business management system that integrates all

facets of the business, including manufacturing,
sales, marketing, finance and human resources.
This
slightly different than best-of-breed
HRIS applications and the industry continues to
debate the merits of one versus the other. With
candidates best suited for open positions. These

tests can sometimes be taken via the Intemet and
of
governs
pension and welfare employee benefit plans.

ERISA requires plans ro provide participanrs
with plan information including plan featurcs
and funding. It also requires that plans provide
fiduciary responsibilities for those who manage
and control assets. It gives participants the right
to sue for benefits and breaches of fiduciary
'approach.
Employee -Assessments:
Income
web-based
applications (ease of use, lower costs) ERp

seems to be losing out, especially in the midmarket.
E`
Equity theory: The idea that people desire to be

treated fairly and thus compare their own
contributions to the workplace-and resulting
rewards-against those of their coworkers, to
determine if they are being treated fairly.
Executive Coaching: Executive coaching is a
professional relationship between a Coach and
an Executive, or an Executive Team. Th6 goal is
to
assist executives
with positive leadirship

in one-on-one
development. It can be provided

sessions or via the Intemet.
Executive Search: An agency or organization used

by employers to assist them with the selection
and placement of :candidates for senior-level
managerial or professional positions.
Exempt Versus Non-Exempt Employees: The

difference between exempt and nonexempt
employees is who gets paid overtime and who
doesn't. The U.S. Department of Labor
specifically designates certain classes of workers
as exempt, including executives, administrative
personnel, outside salespeople, highly skilled
computer-related employees, doctors, lawyers,
engineers, etc. Managers who hire and fire

employees and who spend less than half their
time performing the same duties as
their
employees are typically also exempt employees.
In
general,
the more
responsibility
and
independence or discretion an employee has, the

more likely the employee is to be considered
exempt. Generally, any worker performing
169
effects: The ways
Dominant firm:
in which Your
low
i"rootc". (and benefits and costs) in the general
Dummy: Preliminary layout for an ad, or other print
population.
material.
(Wood) - Extends skills or experience

from current product or market activities rather
fl
rted
Dumping: Selling something for less than the cost of

producing it. This may be used by a dominant to
,than covering totally unfamiliar territory.
strategy known to antitrust

authorities as predatory. Participants in
international trade are often accused of dumping
by domestic firms charging more than rival
imports. Countries can slap duties on. cheap
imports that they judge are being dumped in
their markets. Often this amounts to thinly
disguised protectionism against more efficient
attack rivals,
Customized' online searches by reference

librarians would extend their current research in
print skills.
Not putting all Your eggs in one

to do this by
several
holding
as
thebry,
portfolio
modern
ly?
basket. Investors. are encouraged
Llre
the
different shares and othei assets helps to reduce

risk. At the sharp end of business, however,
diversification is somewhat out of' fashion.
sted
a company's profit distributed

shareholders. Unlike interest on debt, the
payment of a dividend is not automatic. It is
decided by the company's Inanagers' subject to
Dividend: The part of
to
the approval of the
company's owners
(shareholders). However, when a company cuts
its dividend, this usually triggers a sharp fall in
its share price more than would be appear to be
justified by the reduced dividend. Economists
11
is because a dividend cut

signals to shareholders that the company is in a
vord
bad way, with more bad news to follow.
theorize that this
petiti
Ban
y,s
argued
ediated
)VlSlt
ly th
'vlce
up masters of none. The logic of dividing the

workforce into different crafts and professions is
the same as that underpinning the case for free
trade: everybody benefits from doing those
things
in
which they have
comparative
advantage and using income from doing so to
meet their other needs.
Dollarization: When a country's own money
is
replaced as its citizens'preferred currency by the

at
above
ace on
US dollar. This can be a deliberate govemment

policy or the result of many private choices by
buyers and sellers (for instance, at the first sign
of trouble, investors across l,atin America
flee into dollars). When it
'oducts
generally
library
govemment policy, dollarization is, in essence,

beefed up culrency board.
Dwell time The amount of time a customer/user

spends in time waiting in line. For a library user
this is a price expended.
Dwelling unit A single home or other unit in which

a cohesive set of individuals reside, and typically
many good s are purchased in common.
EAP: An EAP is an employee benefit that covers all

or part of the cost for employees to receive
counseling, referrals, and advice in dealing with
stressful issues in their lives. These may include
substance abuse, bereavement, marital problems,
weight issues, or general wellness issues.
Earnings Statement: An Earnings Statement is a

standard financial document that summarizes a
period of time, usually one quarter of a fiscal
Division of labor: People are better off specializing

than trying to be jacks of all trades and ending
ay wl
foreign firms.
Economic studies of diversifying corporate

mergers have found that these often hurt the
shareholders of the acquiring firm; by contrast,
diversified firms that have sold off non-core
businesses have typically made their
shareholders much better off.
'
A firm with the ability to set
PRICES in its market
policies, prograrns, and projects redistribute
is
a
EAP:
'An
employer-sponsored program
designed
to
that
is
assist employees whose job
performance is being adversely affected by such

personal stresses as substance abuse, addictions,
marital problems, family troubles, and domestic
violence. For every dollar invested in an EAP,

employers save approximately $5 to $16. The
average annual cost for an EAP ranges from $12
to $20 per employee. Source: US Department of
Labor.
E-Recruitment: Web-based software that handles

the various processes included in recruiting and
on boarding job candidates. These may include
workforce. planning, requisitioning, candidate
acquisition, applicant tracking and reporting
(regulatory or company analytics).
770
E-Learning: EJearning is a method of education via

the Intemet or other computer related resources.
It presents just-in-time information in a flexible
' face-to-face
courses for a blended learning
ERISA '(Employment Retirement Income

Security Act): A federal law that governs
ERISA requires plans to provide participants
with plan information including plan features.
approach.

duty.
Employee Assessments: Tests used to help

employers in pre-hire situations to select
to
This
communicating With employees, processing

to
create
employees
work environment that makes

want to stay with the organization,
thus reducing tumover.


community.


is
slightly different than
best-of-breed
web-based
applications (ease of use, lower costs) ERp

seems to be Iosing out, especially in the midmarket.
E(

El

an Executive, or an Executive Team. Thb goal is
to
'
assist executives
with positive leadership

in one-on-one
E:
development. It can be provided

sessions or.via the Internet.

and placement of candidates for seniorJevel
managerial or professional positions.

as exempt, including executives. administrative
personnel, outside,salespeople, highly skilled

their
In
general,
the more
responsibility
and


determine


sales, marketing, finance and human resources.

ERP: Short for enterprise resource planning,

tests can sometimes be taken via the Internet and
of
Ex
171
itivb tasks is most likely nonexempt
work with,'
and
is the key to
better
business
performance.
be paid overtime.
: The final meeting between

, usually someone in the HR
Empowerment: To transfer authority and resources

to enable a person or organization to obtain a
greater amount of autonomy and control.
iiartment, and an employee leaving the

. Information on why the employee is
of
Environment, external
world of
external
in
the
social
stimuli
and
l Wb 11
age
ght
The complex set
physical
consumers.
ary
: An employee who is transferred to work

on a long-term job assignment.
Environmental analysis Gathering data regarding
: EBITDA is an abbreviation for Earnings
economic, legal, international and ecological

forces, identifying trends affecting agency.
political, cultural, social,
, a
all
Tax, Depreciation and

reports what the company
would have earned during the period if it did not
irhave to pay interest on its debt; didn't have to
i pay taxes; and had depreciated the full value of
,;,all assets at their acquisition. It is roughly
equivalent to the Operating Income line in the
before Interest,
ng,
l.!.lAmortization. It
es.
ced
to
/ith
sed
RP
Environmental impact assessment: Analysis of

how a particular policy, program, or project may
affect wat'er, soils, flora, fauna; and human
health and well-being.
Environmental monitoring Keeping track of.
environment Part
of the
macro
income,
environrnent encompassing wealth,

productivity, inflation, credit, employment, etc.
Which affect the agencyAibrary's markets and
opportunities.
Erratic demand A pattern of demand for a product

that is varied and. unpredictable, e.g., some best
sellers, or specific online databases randomly
assigned in curriculum by teachers.
Evoked set A set of alternatives that are activated
evaluations: (in management science)

Analyses of the costs (inputs) of programs in
relation to their benefits or effectiveness
directly from
Ex
(outputs).
j
EI: Emotional intelligence (Et) is one of the most

l, i*portunt ideas to hit the business world in
, recent years. It is based on the.notion that the
ability of managers to understand their own
emotions, and those of the people they work
staff, products or users generate a
books is the consumer.
Elasticity The degree that an economic variable

changes in response to a change in another
economic variable. For example, how much
library use changes according to how far an
individual must travel for library services.
Emotional Intelligence: Emotional intelligence @I)
is one of the most important ideas to hit the
business world in recent years. It is based on the
notion that the ability of managers to understand
their own emotions, and those of the people they
,.
All
activities associated with receiving

something frofn someone by giving something
voluntarily in return. This is the heart of the
marketing process. A library user gives time
instead of money to borrow materials, but it is
still an exchange.
Exchange
use analysis should be
conducted to determine what the cause is.
assessment) An
examination that looks back in time to see what

happened. While ex anteanalysis is anticipatory,
ex post analysis is historical.
Example, the parent selecting children's
Eighty-twenty principle The situation in which a

disproportionately small number (e.g., 20Vo) of
disproportionately large amount (e.g., 807o) of
memory--certain brands
considered during the buying process.
ante analysis: (e.g., in impact assessment) An
examination of likely or probable effects prior to
implementation of a policy, program, or project:
Ex post analysis: (e.g., in impact
with, is the key to better business performance.
firm's use/profits.
changes in the environment.
Income Statements.
dd
demographic,
Exhibit The gathering and displaying of products,

people, or information at a central location for
viewing by a diverse audience. Most libraries
have exhibits created by staff, community or
other stakeholders.
Expenses: Expenses are the costs of doing business
that result from generating revenue.

include parts, salaries, utilities, etc.
They
170
E-Learning: E-learning is a method of education via

the Internet or other computer related resources.
It presents just-in-time information in a flexible
face-to-face courses for a blended learning
ERISA '@mployment Retirement Income

Security Act): A federal law that governs,
ERISA requires plans to provide participants
with plan information including plan featurcs.
'approach.

employers
ERP: Short for enterprise resource planning, a

sales, marketing, finance and human resourceb.
This
slightly different than besr-of-breed

tests can sometimes be taken via the Intemet and
is

of

to
communicating
with
employees, processing
to
create
determine

work environment that
makes
lveb-based
applications (ease of use, lower costs) ERP

seerns to be losing out, especially in the midmarket.

employees want to stay with the organization,

thus reducing turnover.


an Executive, or an Executive Team. Thb goal is

to assist executives with positive leadership

community.


Exit
I
(
1
development. It can !e provided

sessions or.via the Internet.
in
one-on-one

and placement of candidates for senior-level
managerial or plofessional positions.
Eigh

as exempt, including executives, administrative
personnel, outside salespeople, highly skilled

their
In
general,
the more
responsibility
to help
in pre-hire situations to select
used
duty.
Employee .Assessments: Tests
I
(
Elast
(
(
I
i
Emo
and

171
work with,'
is most likely nonexempt and
IIne
repetitive tasks
rns
must be paid overtime.
Interview: The finat meeting between

b*it
; management, usually someone in the HR
l depatt*"rt, and an employee leaving theis
i company. Information on why the employee
: l"uuing is gathered to gain insight into work
ins.
nts
rcs
idc
lge
ght
conditions and possible changes or solutions'
ary
is the key to
better
business
performance.
Empowerment: To transfer authority and resources

to enable a person or organization to obtain a
greater amount of autonomy and control.
Environment, external The complex set of physical

and social stimuli in the external world of
consumers.
Environmental analysis Gathering data regarding
political, cultural, social,
aH
ng,
CS.
,ed
ilW
to
ith
ied
l eq v ei b tte oporalng hCOrnc hne m
RP )
id
bc
IEcononic envirollment IPart of the maCro

i en ronlnent encOmpasSing wcalth, incom :
ng
to
health and well-being.
Environmental monitoring Keeping track
T
opportunities.
assigned in curriculum by teachers.
Evoked set A set of altematives that are activated
directly from
:
1:
WT ttT
I EI:Emotional intclligencc KED iS One Of thC rnost
ability of lnanagers to understand thcir own
)n
emotions, and thOsc of thc pcople they work
el
with,is the key to better business pcrformancc.
Ex
Dt
O
)r
:i
d
C
library use changcs according to hOw far an
tr
individual rnust travcl for library serviccS.
tr
Emotional lnteuigence:Emotional intclligencc OEI)

is one of thC moSt important idcas to hit thC
;.
d
C
business world in rcccnt ycars.It is basel on thc
notion that the ability of rnanagers to understand
their own cmotions,and thosC ofthe pcoplc thcy
brands
considered during the buying process'

ante analysis: (e.g., in impact assessment) An
examination of likely or probable effects prior to
implementation of a policy, program' or project:
Ex post analysis: (e.g., in impact
assessment) An
examination that looks back in time to see what

happened. While ex anteanalysis is anticipatory,
ex post analYsis is historical.
books is the consumer.
All activities associated with receiving

something frotn someone by giving something
Exchange
,,
conducted to detcrlmne Whatthc causc iS.
memory--certain
Example, the parent selecting children's
lJ
lC
Erratic demand A pattern of demand for a product

that is varied and. unpredictable, e.g., some best
sellers, or specific online databases randomly
(Outputs).
Dg
of
changes in the environment.
InCOInc statelnents.
1tW aTl :
Vn
demographic,
economic, legal, international and ecological

forces, identifying trends affecting agency'
Environmental impact assessment: Analysis of
how a particular policy, program, or project may
affect watbr, soils, flora, fauna, and human
voluntarily in return. This is the heart of the

marketing process. A library user gives time
instead of money to borrow materials, but it is
still an exchange.
Exhibit The gathering and displaying of
products,
people, or information at a central location for

viewing by a diverse audience. Most libraries
have exhibits created by staff, community or
other stakeholders.
Expenses: Expenses are the costs of doing business

that result from generating revenue' They
include parts, salaries, utilities, etc.
L72
Experience survey
series
of interviews
with
attention to a product, generally for a limited
people knowledgeable about the general subjfct

being investigated.
time.
Feedback: (in management
Period of
Exploratory research A research design in which

the major emphasis is on gaining ideas and
,t.
science)
Ther
information that returns to your organization.

about the consequences of your interventions.
The feedback is available for "learning', so that
insights.
behavior and decisions can be corrected to favor,

positive outcomes. See monitoring.
External data Data that originate outside the

organization for which research is being done.
I'
Fill rate An inventory's availability goal used whenl
Externalities: (in management science) Effects of a

policy, program, or project that impose costs on
(or give benefits to) people who are not in the
setting customer service objectives; for.example,

80 out of 100 reference questions were answeiedi
target population.
Financial Accounting Standards Board
Facilitator: (in planning teams) A group member

whose role is to help the group function more
effectively.
Factor analysis A body of statistical techniques

concerned with study of interrelationships
among a certain set of variables--none of which
is given the special status of a criterion variable.
Family A group of at least two people in a
household based on marriage, cohabitation,
blook relationships or adoption.
Family decision making The processes,

interactions, and roles of family members
involved in making decisions as a group.
Family life cycle
sociological concept that

describes changes in families across time,
emphasizing effects of marriage, divorce, births
and deaths on families and changes in income.
FASB FASB is the abbieviation for the Financial

Accounting Standards Board. It was created in
1973, replacing the Accounting principles Board
and the Committee on Accounting procedure of
the American Institute of Certified public
Accountants before it.
The FASB is a private body whose mission.
"establish and improve standa,rds cji
is to
financial accounting and reporting for the

guidance and education of the public, including
issuers, auditors and users of financial
information." The FASB publishes GAAP.
A type of publicity material that can

be used by the media at their convenience
bgcause it is not time-related. Library materials
Feature story
and services available are good candidates for

this type of story.
Feature The use of advertising, displays, or other

activity, generally by a retailer, to call special
The
Financial Accounting Standards Board w&s:

created in 1973, replacing the Accountingr
Principles Board and the Committee on
Accounting Procedure of the American Institute,
of Certified Public Accouutants before it.
The FASB is a private body whose mission
is to
"establish and improve standards ofr,

financial accounting and reporting for the
guidance and education of the public, including
issuers, auditors and users of financial
information." The FASB publishes GAAP.
Fiscal Year A twelve-month accounting period that

usually, but not necessarily, starts on January
l.
Fixed Assets Fixed Assets are the non-liquid assets

that are required for the company,s day-to-day
operations. They include facilities, equipment,
and real property.
Fixed Costs Fixed Costs are expenses that don't

change based on production or sales volumes,
They include salaries, rent, insurance, etc.
Fixed Term Employment: An employee agrees to

work for a fixed tefm-until a certain date, at the
completion of a project, etc.
Flexible Spending Accounts (FSA): FSA allows

employees to set aside a portion of their earnings
pre-tax basis into separate spending
accounts to fund allowable health .care and/or
dependent day care expenses. The funds must be
segregated as per IRS regulations.
' on a
Flexible Work Arrangements: Schedules that allow

employees to structure their work hours around
their personal responsibilities. Examples include
job sharing, telecommuting and a

compressed workweek. Home sourcing has
become a popular flexible work concept in
flextime,
t73
recent years. In this arrangement, employees
work full-time from thei(homes.
the FASB, and used to standardize financial
Forced Ranking: Also known as a vitality curve,

this is a system of work perforrnance evaluation
in which employees are compared against each
other instead of against fixed standards. Based
on the "2Ol8O Rule" idea, that 20 percent of
employees do 80 percent of the meaningful,
productive work, the top 20 percent of workers
are rewarded and, oftentimes, the bottom 10
Galley proof: A copy of the individual pages of an

ad, brochure, poster or other printed material
used for final proofreading of the text before
final negatives are made for the printing process.
limited
The
ization
ntions.
so that
r favor
I when
lample
;wered
The
was
unting
eon
stitute
percent are fired.
Freedom of association: The right of workers to

join a union andr to bargain collectively. This
right is protected by the Universal Declaration of
Human Rights and the Human Rights Act of
t993.
job analysis: Developed by the U.S.

Department of Labor, functional job analysis is a
method of gathering specific and detailed job
information. This information can be used to
tr'unctional
rission
Cs of
the
tuding
ancial
d that
:y 7.
o-day
ment,
don't
Imes.
)es to
at the
In a local department
store
organization/library system, the main or central

store/library when it is large or dominant in
relation to other comPany stores.
Focus group
aSSe[S
'
method
of
gathering quantitative
data on the preferences and beliefs of consumers

through group interaction and discussion usually
focused on a specific topic or product.
Force field analysis: A method , of identifying

favorable and hindenng factors relative to
achieving a particular goal.
Forecasting models In forecasting sales, or library

use, or other objectives, a variety of statistical
models are used and available, offering insights
otherwise difficult to obtain.
Ilows
nings
tding
Forecasting: (in planning) Views on what will

happen in an "unknown" future.
nd/or
Free, is competitive with local video stores

that charge, if video collections are comparable.
.st be
If
rllow
ound
:lude
rda
has
rt
in
Game Theory: Game theory is based on the premise

that no matter what the game, no matter what the
circumstances, there i.s a strategy that
will
enable
you to succeed.
Gatekeeper: Usually the individual who controls the
flow of information from the mass media to the
group or individual.
General Agents: General agents are middleman for

carriers and brokers and usually focus on the 250
employee market. Usually an individual

appointed by a life or health insurer to
administer its business in a given territory. Gas
are important for companies who sell to small
employers
or brokers e.9.,
benefits
administration software providers.
write j ob descriptions.
Flagship store
accounting of public companies.
the
FY FY is the abbreviation for fiscal year, a twelvemonth accounting period that usually, but not
necessarily, starts on January 1'
GAAP: GAAP is the abbreviation for Generally

Accepted Accounting Principles. It refers to a set
of widely accepted accounting standards, set by
Goal Setting: Assigning specific, attainable goals to

a person, team or organization. Goal setting is a
motivational technique, as workers often rise to
the challenges given them.,
A requirement of the
Employment Relations Act of 2000 that all
parties to a contract conduct negotiations with a
willingness to reach an agreement on new
Good faith bargaining:
contract terms.
Grievance: a complaint by an employee due to an

alleged violation of law or collective bargaining
or dissatisfaction with work conditions.
Gross misconduct: An action so serious that it calls
for the immediate dismissal of an employee.

Examples include fighting, 'drunkenness,
harassment of others and theft.
Group dynamics: The way that people interact

within a group that determines how it functions
and how effective the group is.
Generally Accepted Accounting
Principles
Generally Accepted Accounting Principles refers

to a set of widely accepted accounting standards,
set
by the FASB, and used to
standardize
financial accounting of public companies.
Geodemography The availability
of
demographic
consumer behavior and life style data by

arbitrary geographic boundaries that are
typically quite small. For example, a library-
!74
designated service area
(us).
of two
of needs: A theory created by

psychologist Abraham Maslow that stares
humans constantiy strive to meet a series of
needs, going from physical (food and shelter) all
Hierarchy
census tracts
Goals: A broad and lofty big picture approach to

what the organization wants to achieve. Goals
are not always quantifiable. For example, the
library's goal is to improve reference services,
its objectives include increasing fill rate by ZOVo
in two months.
the way to spiritual (self-actualization).
HR Audit: A
periodic measurement of human

resources effectiveness, conducted by intemal
staff or with the use of an HR audit system.
Goals: Goals are objective, measurable expectations

set to measuic pogress toward desired results.
Goals: (in plarning;
HR Generalist: An individual who is able

perform more than one diversified
resources function, rather then specializing in

one specific function.
iire
particular results that an

organization strives to produce in carrying out its
mission.
Human Capital: The collective skills, knowledge

and competencies of an organization,s p"op1"
A product that has tangible form in contrast

to services that are intangible. A book versus a
Goods:
that enables them to create economic value.
story read.
Gravity model:
Human Capital Management: The challenge of

recruiting and retaining qualified candidatei, and
helping new employees fit into an organization.
The goal is to keep employees contributing to
the organizations intellectual capital by offering
competitive salary, benefits and developmeni
opportunities.-The major functions of hu*an
theory about the structure of

market areas. The model states that the volume
of purchases by consumers/users the frequency
of trips to the outlets are a function of the size of
the stores/library and the distance between the
store and the origin of the shopping trip.
capital management include
Recruitment,
Compensation, Benefits and Training.
Gross Profit: Grosf'profit equals sales revenue

minus the cost of goods sold.
Human Resource Information System (HRJS):

Business software systems that assist in the
management of human resource data (e.g.
Gross Revenue: Gross Revenue is money generated
by all of a
company's operations, before
deductions for expenses
Payroll, job title, candidate contact information).

Some of the larger HRIS platforms include SAp
and People soft.
Growth state of product life cycle: Second stage

during which sales/use are increasing. For
examples, the second year of the library's
talking books program for the visuaily
Human Reiource Outsourcing (IIRO): A

contractual agreement between an employer and
an external third-party provider whereby
handicapped.
employer transfers responsibility
Habit: A learned response to a stirnulus that has
Halo effect: A problem that arises in data collection

when there is carry over from one judgment to
another. For example, estimation of reference
questions inferred from the previous week,s
provider.
High income tountries: Countries whose
personal interest results in increased

performance, according to the observations of
productivity researcher George Elton Mayo.
income
per capita are high compared to the rest of the

world.
Image The sum of beliefs, ideas and impressions that

a person has of an object or agency. (Assael).
count.
Hawthorne Effect: The theory that organizations

can motivate their employees as much or more
by expressing concern for problems as by
actually improving their work conditions. This
the
and
management for certain HR, benefit or training_

related functions or services to the external
become automaticind routine, requiring little or
no cognitive effort. It is often said that the

reading and library habit if not learned as a
child, will not be letrrned as an adult.
to
human
'
For example, the library holds an image of

prestige for some cammunities.
Impact assessment: (in
management science)
Evaluation of the extent to which a policy,
program, or project causes changes (e.g.,
economic, social, environmental) for a target
population.
175
Impact: The net effects of a policy, program, or

project. See impact assessment.
Incentive pay: Additional compensation used as a

motivational tool to exceed specified work goals.
Independent contractor: A self-employed person
who works for another person or organization on
a contract basis.
Individual employment agreement:
written
document that describes the legal relationship
Industrial relations: A field of study that examines
relationshi! between employer
employees, particularly groups
of
and
workers in
unions.
Industrialized country Characteristics: 1) degree of

urbanization increases; literacy levels are high,
exceeding 85Vo, population engaged in

agriculture drops substantially; 2) wage levels
rise sharply and ownership of durables; 3) need
for labor saving methods creates new industries.
performance.
Insider
is someone who has

to the important information about a
company insider
company that affects
its stock price or
standhrds, created
intemationally-accepted
International
by the
Organization for Standardization, for quality

management and quality assurance. These
standards apply uniformly across all industries
and company size. Companies can receive ISO
9000 certification for meeting these standards.
Job analysis: The process of gathering information

about the requirements and necessary skills of a
job in order to create ajob description.
Job Board: An online location that provides an upto-date listing of currentjob vacancies in various
industries. Applicants are able to apply for
employment through the job board itself. Many
job boards have a variety of additional services
to help job seekers manage their careers and
their ongoing job search processes.
Job Description: A written statement that explains

the responsibilities and qualifications of a given
job, based on a job analysis. The job description
usually includes specific required tasks as well
as an overyiew of the position and whom the
employee reports to.
Job evaluation: A comparison of one job with other

jobs in a company for the purpose of assessing
fair compensation.
Irrcome differential The difference in income levels
of various categories, such as
different jobs, geographic areas, age classes,

sexes, races and the like.
of the company may
be company insiders. Auditors, outside counsel,

brokers and analysts may
fit the definition.
Insider Trading Illegal Insider Trading is
the
trading in a security (buying or selling a stock)
based
on material information that is
nor
available to the general public. It is prohibited by
the US Secudties and Exchange Commission

(SEC) because it is unfair and would destroy the
securities markets by destroying investor
confidence.
Institutional development: To improve the laws,

regulations, and human resources affecting one
or more organizations.
Intellectual Property Intellectual Property (IP) is all

of a company's patents, trademarks, service
marks, trade names, trade secrets, and
copyrights. It is distinguished from capital
property.
Interest groups: (in relation to forests) Persons and

groups who claim rights and interests in the
ways that forests are protected and managed,
now and in the future
Intervention: (in management science) A planned

effort to produce favorable changes in a target
population.
IP Intellectual Property (IP) is all of a company's

patents, trademarks, service marks, trade names,
trade secrets, and copyrights. It is distinguished
from capital property.
Job Enlargement Job Enlargement is the honzontal
An Income Statement is
standard financial document that summarizes
Income Statement
might
infl uence investors decisions.

People who are not ernployees
ISO 9000: A set of
budget,
personnel time, and other resources that go inro

and support a planning process.
access
Intangible rewards:;A subjective benefit that has no

monetary value, such as praise for excellent
among people
Inputs (in planning): The information,
between an employer and employee.
the
penod of time, usually one quarter of a fiscal
of a job. It involves the addition of

tasks at the same level of skill and responsibility.
expansion
176
It is done to keep workers from getting bored.

is different than job enrichment.
It
Job Enrichment Job Enrichment is the addition to
job of
tasks that increase the amount of

employee control or responsibility. It is a
vertical expansion of the job as opjosed to the
horizontal expansion of a job, whicir is called job
enlargement.
Key Performance Indicators (KpIs): Tasks that

are
central to the success of a business and show,
when measured, .whether the business i;
advancing toward its strategic.goals.
KSAs: The Knowledge, Skills and Abilities an

employee needs to meet the requirements
of a
job.
Key Performance Indicators Key
performance
Indicators (KpI) are quantifiable measurements

agreed to beforehand, that reflect the critical
success factors (of the company, department,
projecr).
Key result, areas: (in planning): The tasks
and
activities that are most important in determining
individual
successful (e.g., in achieving a goal).
will
be
Key success factors: The factors that are a necessary

condition for success in a given market. Foi
example in a highly Hispanic market, a library
to
succeed would have Spanish language
materials.
Key Success Indicators: Key Success Indicators

are
quantifiable measurements, agreed to

beforehand, that reflect the critiJal success
factors (of the company, department, project).
Knowledge: Consumers, meanings or beliefs

about
products, brands, storesi that is stored in
memory.
ruI: {Pt are quantifiable measurements,

beforehand,
seeking work) and the nation,s total working_age
population.
Labor Market: A geographical region

national
or
inrernation;l)
in *1i"n
(local,
hbor
transactions occur___employers find workers

and
Leadership Development: Activities, whether

formal or informal, that enhances leadership
qualities
l:
LIF'O (Last In, First Out): A method of

determining
who should be laid off in which the
most recent hires are laid off first.
Lump sum payment: A single large payment

given
to an employee, usually instead of more and
smaller pay increases.
Leadership: Guidance
of a group of
accomplish one or more goals.
agrebd to
success
factors (of the company, department, project).
KSA: KSA is Human Resources (IIR) shorthand for

Knowledge, Skills and Abilities. These attributes
can be used to describe an individual, a position,
people to
Legal-service area (library) The geographic

area for
which a public library is eitat'ilsfred to
oifer
services and from which or on behalf
of wnictrj'
the library derives income, plus any
areas served
under contract
for which the library is
the
primary service provider.
Liabilities: Liabilities arb
ail of a
company,s
financial obligations that have a negative

value.
Pl
Life style: The
manner in which people conduct

their lives, incli,ctipg their activities, opinions,
uld'interests (AIO). This is more difficult

to
obtain and more expensive. For libraries

important to undersiand the lifestyl"'of
it
is
users,
betrer
into those
-ir^^grtf,"r"a
. ald how the library may

iit
liiestyles. Sometimes tfril a"i"
community media, or large .o_p*i",
in
community.
Uy
the
Literature search: A search of statistics,

trade
journal articles and other media for
clata or
insight into the problems ar hand. Special
libraries often provide customized searches
for
fee.
that reflect the critical
or both.
II
workers find work.
Kaizen (Quatity Circles) As much a social system

as an industrial process, kaizen is at the
heart of
the quality philosophy, and involves the use\of
quality circles - or small teams of workers _
to
analyze and make suggestions for improving
their own work tasks.
if an organization or
Labor force participation rate: The ratio berween

the labor force (all those currently employed
or
M
M
Long Term Assets: Long Term Assets are the

non_
liquid assets that are required for the company,s
day-to-day operations. They include facilities,
equipment, and real property.
Low income countries: Countries with the lowest

income per capita compared with.the rest
of the
world. The bottom quartile is often considered

low income.
I'
177
ii.
)Cn
Or
lge
al,
)Or
nd
ter
Macro environment: The conditions facing a

i; company/library including demographic
'
'
economic, natural, technological, political, and

cultural forces.
Managed Care: A health care system in which the

provider manages the care of the individual for a
',:: fixed fee. The opposite of this preventive
intervention (or, population-based) approach is
:
':
lC
,o
PR and Marketing PR is the use of a press

release. Traditional PR writes and distributes a
press release for the sole purpose of securing
media placements. Marketing PR does this as
well but also uses the press release to enhance
website SEO, increase web site traffic and
)r
d
C
generate qualified sales leads.
Matrix organization: Used primarily in
the
management of large projects, a horizontal

authority structure in which teams are created
from various departments and report to more
than one boss.
,Mediation Services: The use of a trained third party

to settle an employment dispute. The third party
has no legal authority and so must
use
Mentoring: An informal training process between a

more experienced person and a junior employee.
Minimum wage: The lowest amount an employer

can pay an hourly employee. This rate is set by
the federal government
'
an
organization's purpose: what it does, what

markets it serves and what direction it is going
in.
Motivational Theories: Psychological models that

attempt to explain what motivates people. These
theories can help employers design incentive

strategies.
is divided into four diqhotomies,

with 16 personality types possible. The system is
partly based on the theories of psychologist Carl
personality
Jung.
Market
The set 'of actual or potential
users/
customers. (Kotler)
geographical area containing the
of a particular firm/library for

specific goods or services. This would be
determined by geo-coding library users'
addresses and determining the boundaries of the
customers/users
primary geographic market.
Market demand The total volume of a product or

service bought/used by a specific group of
customers/users in a specified market area
during a specified period. For example, the
demand for best sellers during the fall.
Market'development Expanding the total market

served by 1) entering new segments, 2)
converting nonusers, 3) increasing use by
present users.
Market positioning: Positioning refers to the user's

perceptions of the place a ptoduct or brand
occupies in a market segment. Or how the
company/library' s offering is differentiated from
the competition's. For a library a competitor
may be another public agency competing for
public funds. What unique niche does the library
serve when competing against police for

same $$
Market profile A breakdown of a facility's market

area according to income, demography, and life
style (often.)
persuasion to settle the disPute'
Mission Statement: A description of
measure people' s psychological preferences. The
Market area
Marketing PR: Marketing PR is the combining of

what are traditionally two separate departments,
public relations and marketing, to one integrated
and PR activities
' front whereby all marketing
Marketing PR
directly.
buyers
reaching
on
focus
traditional
both
narketing and PR
incorporates
and
other Intemetmedia
social
with
tactics
'that
measurable
the
support
initiatives
based
web site
publicity,
increased
goals of online
(SEO)
lead
and,
traffic, search-optimization
)r
care
wellness and prevention.
ip
Of
fee-for-service. Managed
emphasizes
Myers-Briggs Type Indicator (MBTI): A wellknown personality type assessment designed to
Market research The systematic
gathering,
recording and analyzing of data with respect to
to
particular market, where market refers
specific user group in a specific geographic area.
Market segmentation The process of subdividing a

market into distinct subsets of users that behave
in the same way or have similar needs. Segments
for the library could be demographic (Asian);

geographic (branch-level); psychographics
(leisure-oriented); customer size (largest user
group area); benefits (have children in the home
learning to read.)
Market Share
percentage
company's market share
of any of its markets that it
is
the
holds.
178
Companies will often discount their products in

order to saturate the marketplace with them and
thereby gain a bigger market share.
Market share A proportion of the total sales/use in a

market obtained by a given facility or chain.
Branch Ahas 35Vo of the system's cirqulation.
Marketing channel A set of institutions necessary to
transfer the title to goodb and to move goods
from the point of consumptiora. (Vendors,
publishers, library facilities.)
Marketing mix The mix of controllable variables

that the firm/library uses to reach desired
use/sales level in target market, including price,
product, place and promotion- 4 p's. For a
library this would be embodied in price of user,s
time to access goods, a product would be a book
or story time, place is a branch or bookmobile,
and promotion is publicity, displays etc.
Marketing opportunity
- An attractive
arena of
in which a particular
organization is likely to enjoy a superior and
relevant marketing action
competitive advantage. The library is selected to
host the community heritage festival which is

funded by the city. (Kotlgr)
Marketing plan A document composed of an

analysis of the current marketing situation,
opportunities and threats, analysis, marketing
objectives, marketing strategy, action programs,
and projected income statement. This could be
very similar to a library's long range plan.

Maturity stage of product life cycle Initial
rapid growth is over and use/sales level off.
Marketing The process of planning and executing

the conception, pricing, promotion, and
distribution of ideas, goods, and services to
create exchanges that satisfy individual and
organizational goals.
Milestone: (in planning) The completion of an

important event or activity in a longer sequence
of events and activities (i.e., a measure of
progress).
Mission statement An expression of a company,s/
library's history, managerial preferences,

environmental concerns, resources, and
competencies. It is used to guide the company's
decision making process, answering rvhat is our

business, who do we serve, etc.
Mission: (in planning) The broad general purposes

for which an organization exists.
Model (in planning) A simplified
physical,
conceptual, or mathematical abstraction of the

real world to help understand relationships (such
as cause and effect).
Monitoring: Assessing the extent to which a policy,

program,-or project is implemented in ways that
NG
Mores The cultural norrns that specify behavior of

vital importance to society and enrbody its basic
moral values
Motivation The positive or negative needs, goals,

desires and forces that impel an individual
toward or away from certain actions, activities,
Nol
objects or conditions. The inner needs and wants

of an individual--what affects behavior.
Multiple purpose trip A key concept in
central
place theory that argues consumers prefer to visit
more than one store per trip, generating positive
externalities for neighboring stores. This view

has mixed reviews in the library field, yet is
usually the norm for rural areas.
NDA NDA is the abbreviation for non-disclosure

agreement. An NDA is a legal contract that
allows a company to share its IP with others,
whose input it needs, without unduly
Needs assessment: Systematic appraisal of the type,
depth, and scope of a problem.
Business metrics define the business'progress in

measurable terms.
Negotiation: Bargaining between two or more

parties with the goal of reaching consensus or
organization.
Nel
are consistent with its intention.
Metrics: Metrics are a set of measurements that

quantify results. Performance metrics quantify
the units performance. Project metrics tell you
whether the project is meeting its goals.
Microenvironment The set of forceS close to an

organization that have direct impact on its ability
to serve its customers, including channel
member organizations, competitors, user
markets, publics and the capabilities of the
Nel
NoI
NoF
Nol
jeopardizing that information.
resolving a problem.
Nepotism: Preferential hiring of relatives and

friends, even though others might be more
qualified for those positions.
"Non-lraditional" versus
"Traditional"
Employee Benefits: Traditional benefits include
life, retirement, health, and disability
benefits.
Nor
179
In of
Non-traditional benefits include various types of

Iife management benefits such as eaps, child and
elder care counseling and referral, etc. (see life
management benefits). According to the US
Chamber of Commerce, health insurance is the
most expensive single benefit cost, accounting
for about 2OVo of total benefits, or abont $2,666
per employee on average. (as per a 1999 study.)
seque
asure of
mpany's/
ferences,
s,
and
)mpany's
rat is our
purposes
is
that
others,
al scalc A rneasu Incnt sc e
h whch
l numbers are assigned to attributes of ottects Or
lcruy
11:lil:
br ttc PuttoSe Of
lNOn:disdosure Agreement: a legal contract that
anows a company to sharc its intcllcctual

l
prOperty cP)With Others,whose input it necds,

Withbut undulyjeopardizing that infollllation.
more
nsus or
like call centers and bill processing. Companies

can build its own work center abroad, establish a
foreign division, or create a subsidiary in remote
locations.
On boarding: The process of moving a new hire
underway, and orientation is completed.
perSOnal judgmcnt soFneWhere in thc clcmcnt

SeleCtiOn proccss.
Nonprorlt marketing: The nrkcting of a product

or service in which the offer itsclf is notintended
to make a monetary profit for the marketer.
Norms:The rulcs Of bchavior that are part of thc

ideology of the group.NollllS tCnd to reflect the
that are proper and thOsc that are inapprop
at ,
as wen as rewards for adhcrcnce and thc

punishment fOr cOnforlmty, No 11lS are
ilnpOrtant for libraHans to undcrstand whcn
se ing culturally divcrse llnarkets.

10
eCt e:A
business Oucct e is something the
tional"
l buShess is dming tOward or a stratc c pod On
include
l itiS WOrking to attain.Usually it is a step in thc

l Strategy.0 ectiVes are sin lar to goals,but
:nefits.
information technology and back-office services
from applicant to employee status ensuring that

paperwork is done, benefits administration is
values of thc group and specify thosc actions
'
Off shoring: The act of moving work to an overseas

location to take advantage of lower labor costs.
Off shoring usually involves manufacturing;
N9m probabilil sample:A sample that relies on
unduly
re type,
are
insight.
;closure
lct
A method of data collection in which

the situation of interest is watched and the
relevant facts, actions and behaviors are
requirements and skills by observing the

employee at work, followed by an interview
with the employee for further assessment and
view
yet
an action is to be accomplished.
Observation interview: A method of assessing job
: to visit
is
specific
actions.
actually doing in the library e.g., browsing, using

the computer, reading to a child, etc.
avior of
positive
be broken down into a number of
which is usually uncounted--what people
its basic
central
more specific than a goal, and one objective can
recorded. This is a important area of library use
a policy,
zays that
rd wants '
Objectives: The desired or needed result to be

achieved by a specific time. An objective is
Observation
the
dividual
:tivities,
than
l haVe been paid,the bottom linc.If Netlncome is

l pOSit C it is also callcd Nct Profit.A ncgativO
:ps (such
goals,,
rather
111 whars left of the rnonies received after all debts
physical,
;,
success/failure
Objectives: (in planning) Details about goals in

'terms of what, how much, when, and by whom
Net lncOme is total revcnuc minus total expcnse,
I Netlncomcis a Net Loss.
n of
often have
quantifiable metrics.
Organic Search Results: Search results returned by

search engines that are based purely on the
content of the pages and page popularity.

Organic search results are not categorized
directory results, or pay-per-click advertising
results. According to marketingsherpa.com, total
money spent on search engine optimization
represents only l2%o of what is spent on pay-forclick advertising (PPC). What makes this
statistic so startling is that it is that organic
search engine results (those that show up in
natural "free" listings) are better noticed, read,
and clicked on than the paid listings.
Organizational Culture: The values, attitudes,

beliefs and behaviors that characterize an
organization. It is the unwritten workplace ethos
that is picked up by new employees.
180
Organizational Development:
planned
organization-wide effort to improve and increase

the organizations effectiveness, productivity,
return on investment and overall employee job
satisfaction through planned interventions in the
organization's processes.
Orientation: Introducing new hires to

organization and its policies, benefits
Ordinal scale A measurement in which numbers

assigned to attributes of objects of classes
Organization Development Organizat

Development (OD) is an evolving field
consulting practice that is dedicated
understanding and positively impacting the
processes of human systems (formal and
informal groups, teams, organizations, and,
individual leaders) in order to increase their
the
and
culture. Training and familiarization with each

department are sometimes included.
OSIIA: The Occupation Safety and
death in the workplace.
practitioners leverage the best
Output evaluation An objective measure of
nlanufacturing, to save money and focus on what

the company does best.
OD Organization Development (OD) is an evolving

field of consulting practice that is dedicated to
understanding and positively impacting rhe
. processes of human systems (formal and
informal groups, tearns, organizations, and
individual leaders) in order to increase their
effectiveness, health and overall success. OD
practitioners leverage the best of a variety of
disciplines, including applied behavioral science.
OD focuses on achieving results through people.
Opinion A belief or emotionally neutral cognition

the individual holds about some aspect or object
in the environment.
Opportunities A company's opportunities are the

gains it has the potential to realize. It may have
the potential to gain market share, the ability to
raise cash by divesting of less-profitable units,
etc. Opportunities are also part of a SWOT
analysis, the abbreviation for strengths,
weaknesses, opportunities, and threats.
Oppprtunity cost: If you are following Plan A, then

you give up the opportunity of alternative Plans
B, C, etc. The value of what you give up (i.e.,
sacrifice or forego) is thebpportunity cost.
of
Pe
Pel
use,
performance, such as circulation per capita of a

library population, reference transactions per,
capita, etc.
Outputs: (in planning) The products that
emerge,
from a planning process in terms of information,
practice and career counseling.
Outsourcing: Contracting out non-core functions,

such as payroll, benefits administration or
of a variety
disciplines, including applied behavioral science.

OD focuses on achieving results through people.
Outplacement: A benefit offered by a downsizing

employer to assist former employees in re-
entering the job market. Assistance can include

job training, resume workshops, interview
Pet
effectiveness, health and overall success. OD
Health
Administration, an agency of the U.S.

Department of Labor. The agency's goal is to
promote health and reduce accidents, injury and
Pa5
objects to reflect the order.
actions, and other results.
Outsourcing, involves an orga.nization pdssing the

provision of a service or the execution of a task
previously undertaken in-house to a third party
to perform on its behalf.
Pe
Ownership: (in planning) To agree with and accept

a plan, especially because of having contributed
to its formulation.
Paradigm A par4digm is a pattern or example. In

business it is a ffamework of behaviors or set of
rules action governing people's actions and
assumptions.
Pareto chart:
A quality assurance tool that ranks
information, like reasons for certain problems, in

descending order. The goal is to identify the
most serious problems so improvements can be
made.
Pay-Per-Click (PPC): Online advertising payment

model in which payment is based on qualifying
click-through. A typical PPC agreement has the
. advertiser paying for clicks to the destination site
based on a prearranged per-click rate. Popular
PPC advdrtising options include search engines
(right sidebar on Google). Paying per click is
different than paying per impression which
generates lower-quality traffic/leads.
Pay-Per-Impression: Online advertising payment

mode in which payment is based on how often
the "publisher" (e.g., web site where you
purchase a banner ad) shows your banner ad on
Pr
181
ization
:ld of
:d to
g the
I and
, and
: their'
s. OD
ety of
:ience,
eople.
of use
taofa
rs per
)merge.
nation,
factors (e.g., 80 percent
explained by 20 percent of the causes).
Participatory planning: To invite people to express

their beliefs, preferences, and recommendations
during the course of a planning exercise,
especially when the participation extends to
people outside the organization that does the
Payroll: Documentation created and maintained by

the employer containing such information as
hours worked, salaries, wages, commissions,
bonuses, vacation/sick, pay, contributions to
qualified health and pension plans, net pay apd
planning.
deductions.
Patronage motives The motives that dnve an

individuaUuser toward selection of a particular
A performance assessment given by

an employee's peers lvho have observed the
Peer appraisal:
.
i
outlet, retailer, or supplier of services.
employee's job Performance'
Performance Appraisal: A periodic review and

' evaluation of an individual's job performance.
Patterns of behavior that differ from those of the

overall culture. These subcultures are important
A plan to improve an
performance
in which the
employee's
PDCA is a cycle of activities (Plan, Do, Check, Act)
:Pcrformance Improvement:
'
designed to drive continuous improvement.

Initially implemented in manufacturing, it has
broad applicability in business. First developed
by Walter Shewhart, it was popularized by
performance problem is identified, modified and

monitored.
Per{ormance Management: The process of

maintaining or improving employee job
performance through the use of performance
Edwards Deming.
Penetrated market: Actual set
ultimate goal
ng
the
a task
is to better
meet organizational
Performance Planning: An organization-wide plan

to manage employeos and their performance
are set for
wherein goals
ibuted
departments and the organization as a whole.
ple. In
'set of
and
ranks
lms, in
fy
the
:an be
lifying
ras the
on site
'opular
,ngines
lick
is
which
tyment
z often
you
ad on
Perception is the cognitive impression that is formed
employees,
"reality" which in tum influences the

individual's actions and behavior toward that
of
object.
measurement
Pareto principle: The concept that most of a given

set of results are due to a small number of causal
planning)
The
evidence that
Personal income: The current income received by

persons from all sources less contributions for
social insurance--e. g., Social Security (US).
agreement
between an employer and employee that the
employee will work for a set amount of time on
a trial or probationary period.
various tax information.
(in
or other type of
shows whether or not a goal is being achieved.
An
Professional Employer Organization (PEO): A

staffing service that is contracted to assume the
employers responsibilities and risk for hisftter
worKorce. Employees are legally co-employed
by the PEO. The PEO is responsible for such
actions as the preparation of accurate payroll
checks, the remittance of payroll taxes to federal
and state jurisdictions and the preparation of
Performance indicator:
involved.
'
ryment
persons in its population.
Plan,sponsor: An entity that has adopted and has

maintained an employee-benefit plan. The plan
sponsor is often an employer, but may be a
union or a professional association. The Plan
Sponsor is responsible for determining employee
participation and the amount of benefits
Probationary Arrangement:
users actually
Per capita income: A nation's or other geographic

market's total income divided by the number of
objectives.
accept
of
consuming the product/service. (Kotler)
assessment tools, coaching and counseling. The
I party
of the results can be
their web site (e.g., an 'limpression"). Typically,

prices are set per one thousand exposures.
Personal interview:
A direct, face-to face
conversation between a representative of the

research organization (the interviewer) and a
respondent or interviewee.
'
Personality: Consistent pattem of responses to the

stimuli from both internal and extemal sources.
Physical inventory: An inventory determined by
actual count and evidenced by a listing of
quantity, weight, or measure. Number of
volumes, periodicals, vides a library owns.
Place: In the channels of distribution, the physical
facilities point
branches, etc.)
of
location
(bookmobiles,
L82
PIan Do Check Act is a cycle of activities designed
to drive continuous
improvement. Initially
implemented in manufacturing, it has broad
applicability in business. First developed by
Walter Shewhart, it was populaizedby Edwards
Deming.
Planning: The process of looking into the future'and

defining strategies (actions, interventions) to
achieve goals.
Point-of-purchase: Promotional materials placed at

the contact sales point designed to attract user
interest or call attention to a special offer, e.g.,
'Sigrt up for Summer Reading Program.'
Point-of-sale (POS):
data collection system that
market are that users reside in.
Population at need: The elements of the population

who have or will develop a particular need,
want, or risk.
some designated specifications.
Potential market - Set of users who profess some

level of interest in a designed market offer.
Poverty level The poverty level is based solely on
money income and updated every year to reflect
changes in the consumer price index, used to
classify families as being above or below the
poverty level.
Price The formal ratio that indicates the quantities of

money. goods or services needed to acquire a
given quantity of goods or services. For a library
user price may come in the form of time the
library users must expend

materials or services.
to obtain library
to
use, questions
answered, story hours, online searching, etc.
Product life cycle The four stages products go

through from birth to death: introductory,
growth, maturity, and decline.
Product mix The full set of products offered by an

organization e.g., books, videos, story hours, etc.
Product positioning: The way,users/consumers

view competitive brands or types of products.
This can be manipulated by the;
organization/library. The library's video'
collection, available for
Profit and Loss Statement is a
standard financial
document that summarizes a company's revenue

and expenses for a specific period of time,
usually one quarter of a fiscal year and the ent
fiscal year.
mix
The various communication'

techniques such as advertising, personal selling;
Promotion
sales promotion, and public relations/ product'

publicity available to the marketer to achieve
specific goals. A library may use a combination,
of newspaper editorial, public service
announcements on radio and possible televisi
if no budget is available for advertising.
Psychographic analysis A technique

investigates how people live, what
them, what theyl like--also called life
analysis or AIO because it relies on a number
statements about a person's activities,
and opinions.
Psychographic segmentation Dividing markets i

segments on the basis of consumer life styles.
Public opinion The consensus view of a popu

on a topic.
Public policy"A coulse of action pursued by

government pertaining to people as a whole
which laws rest.
Public relations The form of

management that seeks to make use of publici
and other nonpaid forms of promotion
information to influence feelings, opinions,
beliefs about the agency/library and its o
Press conference A. convening of media by a person

or organization to explain, announce or expand
on a particular subject.
products include matenals
Pre industrialized country Characteristics: 1) low

literacy rates and high percentage of
employment in agriculture; 2) low population
density and low degree of urbanization; 3)
linguistic heterogeneity and a small percentage
of working age population; 4) industrial sectors
nonexistent and undeveloped; 5) heavy reliance
on foreign sources for all manufacturers and
principal engagement in agricultural endeavors.
benefits and uses capable of exchange, usually in

tangible or intangible forms. The library's
Population The totality of cases that conforms to
Product A bundle of attributes or features, functions,
electronically receives and stores bar code

information derived from a sales transaction.
This could the zip codes for library users,
facilitating the library in determining geographic
Private sector Activities outside the public sector

that are independent of government control,
usually, but not always carried on for a profit.
183
lic
con
rrofit.
uncttons
rsually in
libraryi
Recruitment: The process of finding and hiring the

best-qualified candidate for a position.
rarely used.
Recruitment Process Outsourcing (RPO): The

outsourcing of the recruiting process to a third
Public sector Those marketing activi.ties that are a

carried out by govemment agencies for public
service rather than for Profit.
..:
Public service announcement (PSA):
luest
An
' advertisement or commercial that is carried by

an advertising vehicle at no cost as a public
etc.
lucts
service to its readers, viewers, or listeners. While

the no cost aspect is appealing, a library or other
agency utilizing this media quickly realizes there
:d by
,urs, etc.
nsumers
,roducts.
This is a traditional form of communication for
r,ii,.l
li,'
library managernent, as paid advertising media is
the
video
inancial
revenue
,f time,
e entire
rication
selling,
rroduct
rchievg
ination
service
:vision,
rhat
Iterests
style
rber of
terests
is no control on the most effective time of

placement.
Publics The groups of people that have an actual or

possible interest in 9r impact on the company's
efforts to achieve its goals.
.Quality control An ongoing analysis of operations,

to verify goods or service meet specified
standards, or to better answer customer/user
complaints. Libraries have been criticized for not
employing more quality control standards on
library services.
Quality management: A system to make sure that a
product or service meets standards of excellence,
and that the process by which the product or
service is created is efficient and effective as
well. The three key components of this system
, are quality control, quality assurance and quality
improvement.
Quality of life Sometimes measured by income,

wealth, safety, recreation and education
facilities, education health, aesthetics, leisure
time and the like.
: Quantity discount: A reduction in price for volume

purchases.
ts into
document that is used to guide

what questions are to be asked respondents and
Questionnaire
es.
in what order, sometimes lists the alternative

responses that are acceptable. An excellent
rlation
research instrument
for
libraries
to
assess
customer satisfaction is exit interviews.
;ation
rlicity
and
ns or
rings,
R & D is the abbreviation for

Development. This refers
Research and
to the line on
an
income statement showing the amount of money

a company has re-invested during the period to
find and develop new products.
Random Testing: Employer-administered drug and

alcohol tests conducted at random intervals.
party.
Redundancy: Eliminating jobs or job categories as

they become unnecessary to the functioning of
an organization.
Replacement charts: A tool in succession planning

in which current and future job vacancies, as
well as the number of employees in currently
filled jobs, are visually summarized.
for proposal (RFP): It is a request sent by

to a vendor to submit a bid for a
company
a
product or service. The bid includes a timeline, a
,description of the good or service, the type of
Request
contract, cost and other specifics.
Restrictive covenant: Also known as a negative

covenant; a provision in a contract excluding key
employees from working for competitors in a
certain geographic area and for a certain length
of time.
Return on investment (ROI): The percentage of

profit on an investment compared to the cost of
that investment also called the rate of return or
yield. .
Right to manage: The "right" of management

conduct business without having to answer
to
to
internal or extemal forces for their decisions.
Risk Management: The use of insurance and other

strategies to mininuze an organization's
exposure to liability in the event of loss or
injury.
RSS (ReaI Simple Syndication): A commonly used
protocol for delivering web-based content such
as blogs. RSS is an XMl-based format that

allows webmasters to provide fresh web content
in a succinct manner. It is fast becoming an easy
and affordable way to spread content.
Range The maximum distance a consumer is

ordinarily willing to travel for a good or service;
as such it determines the outer limit of a
store/library's market area. Research in the
library field indicate there is an average two mile
limit for a library user to travel to a branch,
while for a central library with specialized good,
it
may widen to even 10 or 15 miles. This
research does not allow for the travel limrtations

imposed by culture, age, or physical handicap, or
topographicaI bamers.
184
Reach The number of people or households

exposed
to a
particular advertising media
schedule during a specified time.
or
media
Reference group A group that the individual tends

to use as the anc*ror point for evaluating hisArer
own beliefs and attitudes. Teenagers influence
their peers regarding library use.
Regression analysis: A statistical technique to

derive an equation that relates a iingle,
continuous criterion variable to one or more
continuous predictor variables.
Reilly's law A model used in trade area analysis to

define the relative ability of two cities to utt u"t
users from the area between them.
Relationship Marketing refers to the benefits

that
ongoing relationships with key customers can
bring to an organization.
Request for Proposal is a document issued when

an
organization
to
wants
buy something and
chooses to make-the specifiiations available
to
many other companies so they can submit
competitive bids.
for Quotation is a document issued when

an organization wants to buy something and
chooses to make the specifications available
to
many other companies so they can submit
Request
competitive bids.
Research and Development refers to the line

on an
income statement showing the amount of money
a company has re-invested during the period to
find and develop new products.
Respondent
A person who is asked for information

using either written or verbal questioning,
typically employing a questionnaire to guide thi
questioning.
Restricted Siock Units of stock with restrictions on

when they can be sold, usually issued as partial
compensation for employees and directqrs. The
restriction usually lifts in 3 to 5 years when the
stock vests.
Return on Assets (abbreviated ROA) is a measure

of 4 company's profitability. It is calculated as
earnings divided total average assets and is
expressed as a percentage.
Return on Investment (abbreviated ROf) is a

measure of a company,s ability to use its assets
to generate.additional value for shareholders. It
is calculated as Net profit divided by Net Worth,
and expressed as a percentage.
Revenue
is
money generated
by a
company,s
operations, before deductions for expenses.
RFP is the abbreviation for Requesi for proposal.

An
RFP is issued when an organization
something
and
chooses
*unt, to buy
th;
to make
specifications available to many other companies

so they can submit competitive bids.
RFQ is the abbreviation for Requesf for

euotation.
An RFQ is issued when an organization wants
to
buy something and chooses to make the
specifications available to many other companies
so they can submit competitive bids.
ROA is the abbreviation for Retum on Assets. It

is a
measure of a company's profitability and
is
calculated as earnings divided totui ,u.rug.
assets. ROA is expressed as a percentage.
ROI is the abbreviation for Return on Investment.

It
is a measure of a company's ability to use its
assets to generate additional value for
shareholders. It is calculated as Net profit
divided by Net Worth, and expressed as a
percentage.
RoIe playing: Individuals (e.g., in a planning

team)
are assigned to act out opinions and behavior
in
a given situation. This builds understanding of
different perspectives, and helps the ,,play-ers,,
anticipate real-world interactioni.
Roles The behavior that is expected

standard situations.
of people in
Root cause: The underlying reason for a symptom,

problem, or result,
Rural population
The, part
not classified as urban.
of the total population
Salary Compensation paid periodically to a person

independent of performance (in salis or levels
of
use stimulated.)
Sales Revenue is money generated by a company,s

sales operations, before deductionJ for expenses.
Sample survey A cross sectional study in which the

'is
sample
selected to be representative of the
target population and in which the emphasis is
on the generation of summary statistics such as
averages and percentages.
Sample The selection of a subset of elements from a

larger group of objects.
Scanner An electronic device that automatically

reads imprinted codes, as the product is pulled
across the scanner. The library field is
185
any's
t.
An
buy
the
rnies
ts to
networking into the recruiting process as
use counts.
means to attract and evaluate candidates.
Scenario Planning involves testing
business
futures.
alternative
of
a
series
against
strategies
Scenarlo:
An
account
happen (actions)
'
tion.
successfully using these for circulation and other
or story about what may
in a
particular
set
of
circumstances (possible environment).

stores
outside the central business district that serves a

large population within a section or part of a large
city.
isa
Self service The type of operation in which the

' customer/user i, , exposed to merchandise
(browsing and self-selection) without assistance,
:age
unless customer/user seeks assistance.

r. It
, its
Self-concept The ideas, attitudes, and perceptions
for
ofit
SA
Selling orientation (Wood):
people have about themselves'
A company-centered
rather than a client-centered approach to conduct
of
business. This' orientation tends
to
ignore
what the customer/user really wants and needs'

rm)
rin
of
)rS
"
in
rID,
on
Optimization): The
SEO
- (Search Engine
of optimizing a web site (e.g., identifying and
placing targeted keywords on web pages) to
ensure the site places well when queried on
search engines. It is important for corporate web
sites to optimize their visibility on search
process
'
engines.
Self-Funded (Self-Insured) Plan: A health care

insurance program in which employers (usually
larger companies) pay the specified health care
costs of their employees rather than insuring
them. Self-funded plans may be
on
of
y's
self-
or the employer may contract a

party administrator (TPA) for
administered,
third
administrative services only (ASO).
users to generate and exchange content and

interact with each other in a variety of ways.
he
Forums, podcasts, bookmarking, blogs and
he
social networking sites are types of social media.
is
These types
of
interaction can be used for
collaboration, communicat'ion and entertainment.
HR professionals use social media

a
to
source
candidates and create peerrnotworks.
:d
Social Networking: The building of online

communities of people who have common
interests. Linkedin, Facebook -.and myspace
is
facilitate these interconnected systems. HR
ly
method of finding, evaluating, and

establishing a working relationship with future
employees. They may be current employees or
Staffing:
future employees.
Strategic HRM: Aligning human
resource
management (HRM) with the strategic goals of
an organization.
Strategic Planning: The process of considenng an

organization's future, usually three to five years
. ahead, and then working backward to create
strategic plans and allot resources to realize this
desired future state. This includes a hiring
strategy.
Succession Planning: The process of identifying

long-range needs and cultivating a supply of
internal talent to meet those future needs. Used
to anticipate the future needs of the organization
and assist in finding, assessing and developing
the human capital necessary to the strategy of
the organization.
Summary dismissal: The immediate firing of an

employee, usually due to an act of gross
misconduct.
Suspension: An employee is sent home for a period

of time, usually without pay, as a disciplinary
measure.
Service(s) Products such as a bank loan or home

security or library loans, that are intangible or at
least substantially so.
Social Media: Internet sites and services that allows
)s.
AS
Sourcing: The developing of lists of potential

candidates. Also relates to the task of
requisitioning, or creating job descriptions,
approval workflows and actual job postings.
Most e-recruitment software providers include
modules for requisitioning.
Secondary shopping district: A cluster of
the
nies
lis
departments have" begun to,.incorporate social
Shewhart Cycle Named for Walter Shewhart who

discussed the concept in his 1939 book,
"Statistical Method From the Viewpoint of
Quality Control",
it is the
continuous
improvement cycle of Plan, Do, Check, Act.
Shopping good Goods and products can
be
classified as convenience, shopping or specialty.

A shopping good is one that more time is spent
selecting @rowsing) than a quick convenience
good. Example, a certain type of mystery book.
Situation analysis (SWOT) An examination of the

internal factors of a library to identify strengths
186
and weaknesses, and the

external environment
-^"
to
identify opportunitie,
Slogan: The verbal
,rd
or
til;;.
written portion of an
th" *rin
advertising message that

summa.riz"s
idea
SME: Small and Medium_sized

Enterprises or SMEs
are companies
whose headcount or turnover
falls
below certain Iimits.
Strategic Inllection point

occurs when a company,s
competitive position goes
throujh
a lransition. lt
is the point at whichihe
*grri?"r""
must alter
the path it is on adapting
itself to the new
-_
situation _ or risk
;r;;-o^""i,n". r, i,
concerned with how com-panies
,"-.o'gnir" una
rvwvi
adapt to "paradigm changes';"'-u
Social advertising The advertising
designed to
educarion or motivare
;*;"
r,iji"n"".
ro
underrake socially desirable
ac.tiorJ-*"
sdt
Social class
status hierarchy by which

groups and
individuals are classifiei

and prestige.
iliil ;;;iJif .rt"".
Social impact assessment:

Analysis of how
different elements of a populati",
g.i, or lose
of a policy,
,o::lr:"assessment program, or projecr. Social
lmpact
pays particular attention
to
the interests of the poor,
ethnic minorities, and
women.
Social indicator The data

and information that
facilitate
the evatuation of how
institution is doing.
*Lii?i'""i"ry..
Social indicator: Measurement

of a particular
indicator of social welfare
rn oiJ..iortrack rhe
course of a social issue
or proUt". ttrough time.
Sne!11-tf advertising The placement
of advertising
messages on a wide variety
of items of interest
to the target markets .u"n
ur-*i"rlJs,
cups, pens, hats, note paper,
rshirts, etc.
Specialty good
specialty good
is
users/consumers w].tf .p"na

rlor time
for, and rime travellirg
urJ
coffee
one
Steering cornmitteq
group
of advisors who
provide information ana

aavice
Ievel.
ttl:iiil:::]n;r'.1::' *
ro provide
avou
ail,
t or th e
"*".otir"
tore/ri brary
_#r#,""sa:::.,Jrri:1".
attractive display. Retail

store
f"y*r,
:"J;
is also
Strategic market
pfun"l1s The planning process
that yields deiisions in
h*ow , U,i*ir"r, uni,
Strategy is.the plan you
develop to help you achieve
your vision. It
organization,,,"In#il'o;i ;J;':ffi:
environmenrai f";;;;r, ^
and
competitors, that can impact

you.
:1,#:i
especially
Strategy: (in planning) A

broad course of action,
chosen from among atternativei
io* attempt to
achieve
a stated goai.
S,.""1^{h.
strengrhs are the things
{. c_omnany,s
' .does well.
it
It may have , d;;r;;; _i.t"t
,hr."
or have a low iurnover rate,
etc. Strengths are
atso part of a SWor
,r;rr;i.,;""J#reviation
for srengths, weaknerr;;i-;;;;uii,i"r,.
---"' vyyvrlurrll
una
threats.
strike_ price. is the price
at which the horder
stock option may purchase
the stock.
of
Subculture The segmenti

within a culture that share
"
distinguishing
r"r, ,rj'"
"uf
subliminal perception A psychorogicar
view that
suggests that attitudes urO U"f,-uuio.r'
U"
changed by stimuli tf,at
"un
a.e- nJt'lonr"lou.ty
meanings,
perceived.
Survey: Systematic collection

of information about a
defined population j often
by ;;;;i;rerviews
of a subsample of the popuirrionl"" "^ "
SWOT is the abbreviatiorr
for strengths, weaknesses,
'four
opportunities, and
Th-ese
that
iarching
pur'ird. for. A
specialty_good could be a
certain online
l,ÛJiV
servrce
or special collection of materials.
Stakeholder One of a group of publics

with which a
company must be concemed.
Key stakeholders
for a. library could be ur..r,

.rnitffir, uoura
members, vendors or other
who have a
relationship with the library.
factors
provide a framework_threats.
which an o.guniJurion
use to conduct a structured
analysis "un
operations.
of
its
Tactics arg th9 specific actions,

sequences of actions,
and schedules you use to
fulfiil youisirategy. tr
you have more th
strategy you wilr have
differenr racrics r":Hf
Talent Management: Also called

Human Capital
Management, the process of recruiting,
managing, assessing, aevetoping
maintaining employees.
and
187
rewards: Gifts
who
in
the form
ibrary
Administrator (TPA) : An organization

that is responsible for the adminisration of
r,'insurance for a self-insured group. It does not have
''any ,erpoosibiliry for payng claims. The self-
Store
and
OCESS
insured group is financially responsible. (See selfinsured group)
rieve
your
Remuneration: An employee's complete

fannual pay package, including benefit and
pension plans, bonuses, incentives, and
ernal
)t to
are
tion
and
"..
Theory Y: Douglas Mcgreagor's Theory Y states

that some people see work as natural will be
self-directing if they are committed to the
objectives. The manager's role with these people
is to help them
outcorne once training is completed.
of
employees
lost
and
income, demographic, and life style

characteristics of a market and 'census
infonnation for small areas to identify the most

favorable locations.
arget market The particular segment
VS
'
,
of a total
See
These are widely given out to libr.arians at

professional conferences from vendors' Libraries
may use these items as well, but afe usually sold
in library gift shops.
Threats: A company's threats are the dangers it

faces, either from within or from outside'
Threats can be things like a new low-cost
. competitor, possible new government

regulations, etc. Threats are also part of a SWOT
analysis, the abbreviation for strengths,
weaknesses, opportunitie's' and threats.
Thumbnail A rough sketch for a layout for a piece

of print advertising.
population on which the retailer focuses its

merchandising expertise to satisfy that sub
market in order to accomplish its profit
objectives. Or for the library, a target market
To recognize in library communities that

may serve a disproportionate number, whose
information needs may be nontraditional and
might be within the market area served, children

5-8 years old, for surnmer reading programs, to
increasejuvenile use and registration,
Top Line refers to the top line of an Income
,Target population: The persons, households,

organizations, and communities to be reached
-with your interventions (policies, programs,
projects).
,Ieam:
group
of people working
together
for
common purpose, e.g., a planning team.

1
achieve their potential'
Theory X for the oPPosite.
market identification The process of using
ta
IS
for the opposite.
gained over a given time Period.
are
tn
Theory X: Douglas Mcgreagor's Theory X states

that some people have an inherent dislike for
work and will avoid it whenever. These people
need to be controlled and coerced by their
managers to achieve production. See Theory Y
faining Needs Analysis: An assessment to

I, determine the training needs of a group of
, employees, taking into account the employees'
j; prior education and skills and the desiied
'fa
rS
The mode is 2
knowledge.
nover: The number
)S,
The median is 9,
and development: Providing information

that equips employees to better
instruction
and
perform specific tasks or affain a higher level of
tion,
lare
The mean is 56/7=8,
paychecks.
:ially
;s it
The marketing process.
of
certificates, etq. That can be

merchandise,
touched.
or
held
physically
gift
cutive
,Technolory The purposeful application of scientific

knowledge; an environmental force that consists
of inventions and innovations from applied
' scientific and engineering research, telephone
' interview A telephone conversation between a
representative of the research organization, the
interviewer, and a respondent or interviewee.
unique.
line shows the Total Sales

Revenue. When a company goal is to increase
Statement. The top
the top line,
it
means
to
coqcenfrate on
increasing grgss sales.
Top-down process:
(in
planning)
To
transmit
decisions and controls from the high levels of an

organization to its lower levels.
Transfer of functions: The handover of some

planning and management powers from
govemments to non-governmental organizations'
Transportation A marketing function thdt adds time

and place utility to the product by moving it
from where it is made to where it is purchased
188
and used. In includes all intermediate steps in the

process.
Underdeveloped country Characteristics: small

factories erected to supply batteries, tires,
footwear, clothing, building materials and
packaged foods; agricultural activity declines
and degree
of urbanization
increases; available
educational effort expands and literacy rises.
Underprivileged family A family in social class that

does not have enough money to purchase the
necessities,
i.e., shelter, clothing
and
transportation, appropriate for its class status.
Underwriter: A person or organization that ensures

money will be available to pay for losses that are
insured. An insurance company can be
considered an underwriter
Union: Workers who organize a united group,

usually related to the kind of work they do, to
collectively bargain for better work conditions,
pay or benefit incregses, etc.
Unjustifiable dismissal: Firing an employee in a

way that the courts do not find justifiable (i.e.
Unfairly or in violation of the employment
contract).
Unit control The control of stock in terms of
merchandise units rather than terms of dollar

value. This is representative of a the number of
books, magazines, etc of a library collection.
Urban population Persons living in places of 2,500

or more inhabitants incorporated as cities,
villages, boroughs, or areas designated as such
by the US Census, with some exceptions.
Utility The state or quality of being useful. What is

the utility of marketing practices to the library
field?
VALS (values and lifestyles) An acronym standing

for values and life styles. VALS is a
psychographic segmentation approach developed
at Stanford Research Institute International. This
data is useful to public and private sectoi.
Unfortunately, the data is still largely expensive,
therefore, libraries and other non-profits still

widely rely on demographics.
Value: The power of any good to command other

goods in peaceful and voluntary exchange.
Values: The beliefs about the important life goals
that consumers are trying to achieve. The
important enduring ideals or beliefs that guide
behavior within
a culture or for a
spec
person.
Variable Costs are expenses that vary

production volumes. They include
based
labor, production utilities, etc.
Variety: The number of different classifications

goods carried in a particular merchandising unifr
How many different children's authors
represented in the juvenile collection?
/ Vesting To give someone control over t

stock or stock options.
Vest
When employees are given stock
options
restricted stock, they often do not gain
over the stock or options for a period of ti

This period is known as the vesting period and
usually 3 to 5 years. During the vesting
the employee cannot sell or transfer the stock
options.
Vicarious learning The changes in an indiv

behavior brought about by observing the acti
of others and the consequences of those acti
Research indicates that immigrani adglts
m
Viral Marketing: Any marketing technique

induces people (or web sites) to pass on
marketing message to other people or si
creating a growth in the message's visibility
effect.
classic example
of this
concept
Hotmail whereby each email sent via Hot

included Hotmail's own advertisement in
footer.
Virtual HR: The use of various types of technology

to provide employees with self-serve optionsi
Voice response systems, employee kipsks
common methods.
Voluntary Benefits: Benefits that are paid for by

employee through payroll deductions.
employer pays for administration. Examples
these benefits include life insurance,
vision, disability income, auto insurance, lon
term care coverage, medical supplement plandr
and homeowners
insurance.
Vision A guiding therm that articulatcs the,ature Of
the business/library and its intentions for

future, based upon how management believes
the environment will unfold. A vision is
informed, share, competitive and enabling.
Vision Your organization Vidon is the over
pHnciple that guidcs the ottahiZation.It dein
189
what you want the organization to be' The vision
,.,, is often the dream of the founder or leader'
pay and
iVage drift: The difference between basic
factors
ofpossible
earnings, due to a variety
,i
, io,ut
,i *o"t
ications
iising
,:,.
as oiertime, bonuses, gender' age
and
performance.
tll blower:An cmp10yce whO publiCly revealS

te
10
In
c
ProtCtCd
Disc10sures
Act of
1 II6n by
Workroom A service department such as apparel

alterations, drapery manufacture, library
materials Processing.
XML and HR')OVIL: Extensible Markup Language'

' A common system used for defining data'
Unlike HTML, XML is not a fixed set of
elements. XML allows information creators to
apply descriptive markup (or "tags") around each
rthors
aisciete element of data. The HR-XML

Consortium strives to spare employers and
vendors the risk and expense of having to
negotiate and agree upon data interchange
mechanisms on an ad-hoc basis' By using XML'
the Consortium provides the means tbt' any
company to transact with other companies
without having to establish, engineer, and
2000.
ptlons
lln con
d of til
Hod and
ing pe
greatrinlmem atW
implement
d at holne.
many separate
interchange
mechanisms.
e stock
Z,IP code
geographical classification system
ndi id
developed Uy tfre U.S. government for mail

distibution, a nested numeric range of 5 to 9
hc act
numbers.
le actil
ults
it thi
lool.
lquc
ass on
or sl
bility a
cept was
Hotmail
rt
in
Wan The w hC nceds,cra ngs,demandS Or
chnology
options:
osks
desires of hulnan beings.
are
or by the
ns.
The
mples of
dental,
:e, long-
nt
plans
lature of
for
the
beiieves
sion
is
b'
:r-riding
defines
OpportuniticS,and thrCats.
ealth The aggregate of an possessions of

econoIIllC g00d Owned by a persOn.
:T l TrS
SerS m
1I
W
190
ErnrrocRAPIrY & RnnnRENCEs

www.nts.org.pk
http://www.cssforum'com.pk/off-topic-section/general-knowledge-quizzes-iq-tests/29535-analyticalreasoning-iq-questions. html
www.bestsamplequestions.com/gre.../analytical-reasoning-
0.html
Effective Business communication by Herta A Murphy and charles E peck

Source: http://www.englisch-hi lfen.delen/words/synonyms.htm
S
ource : http ://www.michigan-proficiency-exams.com/antonym-list.html
Accounting by Meigs Williams and Haka Bettner, 7th Edition.

Assael, Henry' Consumer Behavior and Marketing Action, Znd ed.Boston,
MA.: Kent publishing Co.,
t984.
Bennett, Peter D., ed. Dictionary of Marketing Terms,, 2nd ed. Pubtshed
American Marketing Association. chicago, IL.: NTC Business Books, 1995.
in conjunction with
the
Business Marh by Cheryl Cleaves and Margie Hobbs 4th Edition.
Effective business communication by Herta A Murphy, Herbert and Jane. SIE, 7th Edition.
Fundamentals of Financial Management by James
and John
M,
13th Edition.
http ://catalystcon sultin gpartners. com./glos s ary. html
http://ww w.economist.com/economi cs-a-to-z

http://www.fao.org/docrep/w896 lelw896 1 e0B.htm
http ://ww w. geolib. org/pdf/marketingterms.pdf
http ://www.hrmarketer.com/honp/trcm-glossary.php
Koontz, Christine. Florida State University, Tallahassee, EL 32306. Developed select library
definitions from fifteen years of work and reading in the marketing field. Taught ntnprofit marketing
to graduate library and information studies students utilizing a nonprofit btrsinels text.
Kotler, Philip. Marketing for Non-Profit Organizations, 5th ed. Englewood Cliffs, NJ: prenrice- Hall,
Inc., 1996.
Managerial Economics, by H. Craig and W. Chris
Irwis,
4th Edition.
Mathematical Methods for Business and Economics, Schaum Series by Edwared T. Dowling.
Wood, Elizabeth J. Strategic Marketing for Libraries: a Handbook. Westport, CT: Greenwood
Publishing, 1988
nalytical-
lishing Co.,
on with
ing.
re
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tahangir
Success Series
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