NTS GAT Subject (Business Administration) FLP 1 Free Quiz

1. What is accounting?

A. Recording, classifying, summarizing financial transactions B. Only recording C. Only classifying D. Only summarizing

2. What does a credit do to a liability account?

A. Increases assets B. Increases liabilities C. Decreases liabilities D. Decreases equity

3. When are expenses recognized under accrual basis?

A. Cash basis B. When paid C. When incurred (accrual basis) D. When invoiced

4. What are the three categories in the cash flow statement?

A. Operating, investing, financing B. Operating only C. Investing only D. Financing only

5. What is a current asset?

A. Fixed asset B. Current asset C. Intangible asset D. Long-term investment

6. What is a current liability?

A. Current liability B. Long-term liability C. Equity D. Deferred revenue

7. What is accounts receivable?

A. Accounts payable B. Notes payable C. Accrued expenses D. Accounts receivable

8. What inventory method assumes first in, first out?

A. LIFO B. Weighted average C. Specific identification D. FIFO

9. What inventory method assumes last in, first out?

A. FIFO B. LIFO C. Weighted average D. Specific identification

10. What is an audit?

A. Independent examination B. Review C. Compilation D. Tax return

11. What does price elasticity of demand measure?

A. Price elasticity B. Income elasticity C. Cross-price elasticity D. Supply elasticity

12. What does inelastic demand mean?

A. More B. Equal C. Less D. Zero

13. What does elastic demand mean?

A. Less B. Equal C. Zero D. More

14. What is a monopoly?

A. Perfect competition B. Monopoly C. Oligopoly D. Monopolistic competition

15. What is an oligopoly?

A. Perfect competition B. Monopoly C. Oligopoly D. Monopolistic competition

16. What is variable cost?

A. Variable cost B. Fixed cost C. Total cost D. Average cost

17. What is opportunity cost?

A. Accounting cost B. Economic cost C. Sunk cost D. Opportunity cost

18. What is GDP?

A. GDP B. GNP C. NNP D. NDP

19. What is inflation?

A. Deflation B. Disinflation C. Inflation D. Hyperinflation

20. What is unemployment?

A. Employment B. Underemployment C. Labor force participation D. Unemployment

21. What is a budget deficit?

A. Surplus B. Balanced C. Deficit D. Zero

22. What is a trade deficit?

A. Surplus B. Balanced C. Zero D. Deficit

23. What is absolute advantage?

A. Comparative advantage B. Competitive advantage C. Absolute advantage D. Strategic advantage

24. What is business research?

A. Systematic collection and analysis of information B. Only data collection C. Only analysis D. Only interpretation

25. What is secondary data?

A. Primary B. Original C. First-hand D. Secondary

26. What type of research uses numerical data?

A. Quantitative B. Qualitative C. Descriptive D. Exploratory

27. What is reliability?

A. Validity B. Reliability C. Precision D. Accuracy

28. What is the independent variable?

A. Dependent B. Independent C. Control D. Moderator

29. What does correlation measure?

A. Correlation B. Causation C. Covariance D. Regression

30. What test compares means between two groups?

A. ANOVA B. T-test C. Chi-square D. Regression

31. What is a confidence interval?

A. P-value B. Effect size C. Standard deviation D. Confidence interval

32. What is financial management?

A. Planning, organizing, controlling financial resources B. Only accounting C. Only budgeting D. Only investing

33. What does the time value of money state?

A. Inflation B. Risk C. Return D. Time value of money

34. What is NPV?

A. Net present value B. Internal rate of return C. Payback period D. Profitability index

35. What is the current ratio?

A. Profitability ratio B. Leverage ratio C. Current ratio D. Efficiency ratio

36. What does the debt-to-equity ratio measure?

A. Liquidity B. Profitability C. Efficiency D. Debt-to-equity

37. What does dividend policy determine?

A. Investment policy B. Financing policy C. Dividend policy D. Budgeting policy

38. What does financial risk refer to?

A. Financial risk B. Business risk C. Market risk D. Operational risk

39. What is a financial ratio?

A. Absolute value B. Percentage C. Ratio D. Trend

40. What does the Modigliani-Miller theorem suggest?

A. Capital structure irrelevance B. With taxes C. With bankruptcy D. With agency costs

41. What is a financial market?

A. Product market B. Labor market C. Financial market D. Service market

42. What is performance appraisal?

A. Performance appraisal B. Recruitment C. Training D. Compensation

43. What does training and development do?

A. Recruitment B. Selection C. Training and development D. Compensation

44. What does compensation include?

A. Only salary B. Only bonuses C. Only benefits D. Salary, wages, bonuses, benefits

45. What does a job specification list?

A. Job description B. Job design C. Job specification D. Job analysis

46. What is retention?

A. Turnover B. Attrition C. Retention D. Layoff

47. What is 360-degree feedback?

A. Self-assessment B. 360-degree feedback C. Peer review D. Supervisor assessment

48. What type of interview focuses on hypothetical scenarios?

A. Behavioral B. Structured C. Unstructured D. Situational

49. What is a career path?

A. Job analysis B. Job design C. Job description D. Career path

50. What is HR planning?

A. HR planning B. Recruitment C. Selection D. Training

51. What manages employee data?

A. Payroll B. Recruitment C. HRIS D. Performance

52. What links compensation to performance?

A. Performance-based pay B. Seniority-based pay C. Skill-based pay D. Flat-rate pay

53. Which stage involves decreasing sales?

A. Introduction B. Growth C. Maturity D. Decline

54. What are distribution channels?

A. Promotion B. Pricing C. Product D. Distribution channels

55. What type of distribution channel involves no intermediaries?

A. Indirect B. Direct C. Multi-level D. Networked

56. What does "marketing myopia" mean?

A. Marketing myopia B. Customer focus C. Competitor focus D. Pricing focus

57. What determines the production capacity needed to meet demand?

A. Inventory B. Quality C. Scheduling D. Capacity planning

58. What focuses on minimizing waste and maximizing value?

A. Lean production B. Mass production C. Batch production D. Job production

59. What is a methodology for process improvement?

A. JIT B. Six Sigma C. TQM D. Lean

60. What does the supply chain include?

A. All steps in delivering a product B. Production only C. Distribution only D. Procurement only

61. What uses statistical methods to monitor processes?

A. Statistical Process Control B. Quality control C. Quality assurance D. Inspection

62. What is the reorder point?

A. EOQ B. Safety stock C. Lead time D. Reorder point

63. What is safety stock?

A. EOQ B. Safety stock C. Reorder point D. Lead time

64. What is scheduling?

A. Inventory B. Quality C. Scheduling D. Capacity

65. What is the critical path?

A. Critical path B. Shortest path C. Average path D. Optional path

66. What produces items in groups?

A. Mass B. Job C. Batch D. Lean

67. What produces custom products?

A. Mass B. Batch C. Lean D. Job production

68. What is the highest level in Maslow's hierarchy?

A. Esteem B. Self-actualization C. Social D. Safety

69. What are hygiene factors?

A. Motivators B. Growth factors C. Hygiene factors D. Achievement factors

70. What theory assumes employees dislike work and need to be controlled?

A. Theory Y B. Theory X C. Theory Z D. McGregor

71. What theory assumes employees are motivated and seek responsibility?

A. Theory Y B. Theory X C. Theory Z D. McGregor

72. What type of leadership inspires and motivates followers?

A. Transactional B. Laissez-faire C. Autocratic D. Transformational

73. What type of leadership focuses on supervision and performance?

A. Transformational B. Transactional C. Charismatic D. Servant

74. What is organizational culture?

A. Shared values, beliefs, norms B. Structure C. Strategy D. Climate

75. What is expert power?

A. Referent B. Legitimate C. Expert D. Coercive

76. What is organizational commitment?

A. Satisfaction B. Engagement C. Loyalty D. Organizational commitment

77. What is the Hawthorne effect?

A. Hawthorne effect B. Placebo effect C. Pygmalion effect D. Halo effect

78. What is a team?

A. A group B. A team C. A committee D. A task force

79. How many conflict resolution strategies are there?

A. Two B. Three C. Five D. Six

80. What is the span of control?

A. Chain of command B. Organizational structure C. Span of control D. Authority

81. What is decentralization?

A. Centralization B. Formalization C. Standardization D. Decentralization

82. What does SWOT stand for?

A. Strengths, Weaknesses, Opportunities, Threats B. Strengths, Weaknesses, Options, Threats C. Strengths, Weaknesses, Opportunities, Tactics D. Strengths, Weaknesses, Objectives, Threats

83. What structure combines functional and divisional structures?

A. Simple B. Bureaucratic C. Flat D. Matrix

84. What is authority?

A. Responsibility B. Accountability C. Power D. Authority

85. What is accountability?

A. Accountability B. Authority C. Responsibility D. Delegation

86. What principle ensures a clear line of authority?

A. Unity of command B. Span of control C. Scalar chain D. Division of work

87. What school of management focuses on human behavior?

A. Scientific B. Administrative C. Bureaucratic D. Behavioral

88. What does the systems perspective view the organization as?

A. Interrelated parts B. Closed system C. Open system D. Fixed system

89. What is a policy?

A. Policy B. Rule C. Procedure D. Strategy

90. What is CSR?

A. Profit maximization B. Shareholder value C. Corporate social responsibility D. Market share

91. What is competitive advantage?

A. Cost advantage B. Differentiation C. Focus D. Competitive advantage

92. What matrix categorizes business units as Stars, Cash Cows, Question Marks, Dogs?

A. BCG matrix B. Porter C. SWOT D. PEST

93. What defines the organization's purpose?

A. Vision B. Strategy C. Mission D. Objective

94. What describes the desired future state?

A. Mission B. Strategy C. Objective D. Vision

95. What strategy aims to be the lowest-cost producer?

A. Cost leadership B. Differentiation C. Focus D. Diversification

96. What strategy enters new markets with existing products?

A. Penetration B. Product development C. Diversification D. Market development

97. Who is primarily responsible for strategic management?

A. CFO B. COO C. CEO D. HR manager

98. What is an acquisition?

A. Acquisition B. Merger C. Joint venture D. Alliance

99. What is CSR?

A. Profit B. Shareholders C. Employees D. Corporate social responsibility

100. What is a strategic plan?

A. A strategic plan B. A budget C. A forecast D. A report

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