Correct the Underline Word and Rewrite the following Sentence (Weightage 5 Marks)
1. Principles of Management
1) Security in job always affects adversely on the efficiency of employees.
Ans: Insecurity in job always affects adversely on the efficiency of employees.
2) Esprit de corps means ‘union is strength’
Ans: Esprit de corps means ‘division is strength’.
3) Each member of organization should receive orders from only one subordinate.
Ans: Each member of organization should receive orders from only one Superior
4) Decentralization means concentration of power and authorities at a specific position.
Ans: Centralization means concentration of power and authorities at a specific position.
5) Management techniques are applied differently under different condition.
Ans: Management principles are applied differently under different condition.
2. Functions of Management
1) Factors of business environment are always fixed.
Aqns:- Factors of business environment are always changing.
2) Staffing is concerned with machines.
Ans:- Staffing is concerned with humans.
3) Directing is a function of comparing the actual performance with the predetermined performance.
Ans:- Controlling is a function of comparing the actual performance with the predetermined Performance.
4) Co-ordination helps to maximize the wastage of resources and controls the cost of work.
Ans:- Co-ordination helps to minimizes the wastage of resources and controls the cost of work.
5) Controlling measures are rigid to some extent.
Ans:- Controlling measures are flexible to some extent.
3. Entrepreneurship Development
1) The word ‘Entrepreneur’ comes from the German verb entreprendre, it means’ to undertake’
Ans: The word ‘Entrepreneur’ comes from the French verb entreprendre, it means’ to undertake’.
2) Entrepreneurs try to make home a better place where the needs of consumers can be satisfied.
Ans: Entrepreneurs try to make Market a better place where the needs of consumers can be satisfied.
3) The loan taken under the stand-up India scheme is repayable in ten years.
Ans: The loan taken under the stand-up India scheme is repayable in seven years.
4. Business Services
1) Overdraft facility is available for savings bank account holders.
Ans: Overdraft facility is available for Current bank account holder.
2) Services are tangible in nature.
Ans: Services are Intangible in nature.
3) Insurance helps to maximize the risks in the business.
Ans: Insurance helps to minimize the risks in the business.
4) The foreign bank is the apex financial institution in the banking industry in the country.
Ans : The central bank is the apex financial institution in the banking industry in the country.
5) RTGS stands for Reasonable Time Gross Settlement.
Ans: RTGS stands for real Time Gross Settlement.
5. Emerging Modes of Business
1) E-business is hard to start.
Ans: E-business is easy to start.
2) There are five stages of online transactions.
Ans: There are three stages of online transactions.
3) Registration is the Last step in online transactions.
Ans: Registration is the first step in online transactions.
4) Digital cash is a form of plastic currency.
Ans: Digital cash is a form of Electronic currency.
5) KPO includes less knowledge-based and specialized work.
Ans: KPO includes more knowledge-based and specialized work.
6. Social Responsibilities of Business
1) Social responsibility is a narrower term than legal responsibility of business.
Ans : Social responsibility is broader term than the legal responsibility of business.
2) All sorts of fair practices related to stock exchange should be avoided.
Ans :All sorts of unfair practices related to stock exchange should be avoided.
3) Management and union should agree strikes and lockouts protect the interest of both the parties.
Ans :Management and union should ban strikes and lockouts to protect the interest of both parties.
4) MRP (Maximum Retail Price) should not be printed on every packet.
Ans : MRP (Maximum Retail Price) should be printed on every packet.
5) Dishonest advertising can be appreciated by customers in the long run.
Ans : Honest advertising can be appreciated by customers in the long run.
6) Financial help should be provided by business organizations for anti-social activities.
Ans : Financial help should not be provided by business organizations for anti-social activities.
7) Business ethics is a compulsory term.
Ans : Business ethics is a voluntary term.
8) Business ethics is not a relative term.
Ans :Business ethics is a relative term.
9) Social values are based on perceptions of right or wrong.
Ans :Moral values are based on perceptions of right or wrong.
10) Moral values provide general guidelines for social conduct.
Ans :Social values provide general guidelines for social conduct.
7. Consumer Protection
1) An appeal can be filed against the order of the National Commission to the State forum.
Ans :An appeal can be filed against the order of the National Commission to the Supreme Court.
2) National Commission is established by the State Government.
Ans : National Commission is established by the Central Government.
3) District Commission is also referred to as People’s Court.
Ans : Lok Adalat is also referred to as People’s Court.
4) In India, sellers are widely dispersed and are not united.
Ans : In India, Consumers are widely dispersed and are not united.
5) National Commission entertains complaints where the value of the goods or services paid as consideration does not exceed Rs. one crore.
Ans : District Commission entertains complaints where the value of the goods or services paid as consideration does not exceed Rs. one crore.
8. Marketing
1. Commodity Market refers to the market for borrowing and lending long term capital required by the business.
Ans: Capital market refers to the market for borrowing and lending long term capital required by the business.
2. In a duopoly, there is a single seller.
Ans: In Monopoly there is a single seller.
3. Pricing bridges the time gap between the production and sale of goods.
Ans: Warehousing bridges the time gap between the production and sale of goods.
4. Branding is the process of classification of products according to similar characteristics and/ or quality.
Ans: Grading is the process of classification of products according to similar characteristics and/ or quality.
5. Grading helps in avoiding breakage, damage and destruction of the product.
Ans: Packaging helps in avoiding breakage, damage and destruction of the product.