Business and Technology MCQ Quiz - Objective Question with Answer for Business and Technology - Download Free PDF
Last updated on Jun 14, 2025
Latest Business and Technology MCQ Objective Questions
Business and Technology Question 1:
Which combination of demand and supply curves would be appropriate for a firm attempting to increase its profits by increasing its market share?
Answer (Detailed Solution Below)
Elastic demand, elastic supply
Business and Technology Question 1 Detailed Solution
Correct Answer: B
Explanation:
To increase market share requires greater quantities of the firm’s products to be both demanded and supplied. To sell more, a firm needs to lower price. For this to be profitable, demand must be elastic. To produce more, supply must also be elastic.
Business and Technology Question 2:
Janet works for a toy company called K Co. She telephones Mary at P Co on a daily basis to order parts. Janet has no contact with customers but does deal with complaint letters from D Group, an organisation against slave labour. D Group believe that K Co use slave labour in the toy manufacturing factories.
Which of the following are internal stakeholders of K Co?
Answer (Detailed Solution Below)
Janet only
Business and Technology Question 2 Detailed Solution
Explanation:
Internal stakeholders include employees and management and so Janet is the only internal stakeholder. Customers and suppliers (like Mary at P Co) are connected stakeholders. Pressure groups such as D Group are external stakeholders.
Business and Technology Question 3:
The tasks of which body include: monitoring the chief executive officer; formulating strategy; and ensuring that there is effective communication of the strategic plan?
Answer (Detailed Solution Below)
The board of directors
Business and Technology Question 3 Detailed Solution
Correct Answer: C
Explanation:
These are some of the roles fulfilled by the board. The audit committee reviews financial statements, audit procedures, internal controls and risk management. The Public Oversight Board monitors and enforces legal and compliance standards. The nomination committee oversees the process for board appointments.
Business and Technology Question 4:
A large supermarket chain has purchased land for a new out-of-town shopping development in an area of recognised natural beauty.
The organisation is now preparing plans for infrastructure development (road access, parking, power) and construction.
Into which quadrant of the above power/interest matrix would the organisation place local nature appreciation groups, and what strategy does this indicate?
Answer (Detailed Solution Below)
Keep informed
Business and Technology Question 4 Detailed Solution
Correct Answer: B
Explanation:
Local nature appreciation groups would have high interest (due to potential environmental impacts) but relatively low power: because of their high interest, though, they might be able to band together or lobby to increase their power. So a ‘keep informed’ strategy is appropriate to segment B.
Business and Technology Question 5:
Which of the following is on area of an accountant or auditor’s work that is made more effective by automation?
Answer (Detailed Solution Below)
Downloading bank transactions into the accounting system
Business and Technology Question 5 Detailed Solution
Correct Answer: A
Explanation:
Automation allows certain routine procedures to be undertaken without the input of a human (such as the automatic download of bank transactions). The other options are all areas of work that require human input or artificial intelligence.
Top Business and Technology MCQ Objective Questions
Business and Technology Question 6:
Which of the following is a key characteristic of a partnership?
Answer (Detailed Solution Below)
Business and Technology Question 6 Detailed Solution
The correct option is option 3
Additional Information:
In a traditional partnership, partners share profits, control, and responsibility, including liability.
Business and Technology Question 7:
Which of the following statements is/are true?
(1) An informal organisation exists within every formal organisation
(2) Objectives of the informal organisation are broadly the same the formal organisation
(3) A strong, close-knit informal organisation is desirable within the formal organisation
Answer (Detailed Solution Below)
Statement (1) only
Business and Technology Question 7 Detailed Solution
Explanation:
Statement (2) is not true, because the informal organisation has its own agenda.
Statement (3) is not true, because a strong informal organisation with its own agenda can undermine the formal organisation: create damaging rumours, safety/quality shortcuts, distractions from task goals etc.
Business and Technology Question 8:
Which of the following is an advantage of a flat organisational structure?
Answer (Detailed Solution Below)
Business and Technology Question 8 Detailed Solution
The correct option is option 3
Additional Information:
- Flat structures simplify hierarchy, promoting faster communication.
- Fewer levels = quicker decisions and better teamwork.
Business and Technology Question 9:
Which of the following states the four cultural types identified by Handy?
Answer (Detailed Solution Below)
Business and Technology Question 9 Detailed Solution
Explanation:
Resource, individualism, uncertainty, dynamism and bureaucratic are not cultural types per Handy.
Business and Technology Question 10:
Machine learning is an example of which of the following?
Answer (Detailed Solution Below)
Business and Technology Question 10 Detailed Solution
Explanation:
Machine learning uses networks, statistics and operational research to identify insights in data without being programmed what to conclude and is an example of artificial intelligence.
Business and Technology Question 11:
Which of the following statements are true?
(1) With a shared service centre services are likely to be less tailored
(2) The IT function is commonly provided using shared service approach
(3) A shared service centre is not part of the organisation
Answer (Detailed Solution Below)
Statements (1) and (2) only
Business and Technology Question 11 Detailed Solution
Explanation:
The shared service centre is created within the organisation and is a part of it, although its relationship is similar to that of an external service provider.
Business and Technology Question 12:
An organisation would consider offshoring its manufacturing operation in order to lower costs and gain access to skilled production labour.
Is this statement true or false?
Answer (Detailed Solution Below)
Business and Technology Question 12 Detailed Solution
Correct answer: A.
Explanation:
This is a true statement. Offshoring is a viable alternative if an organisation is attempting to reduce costs and/or seeking skilled labour.
Business and Technology Question 13:
In order to discharge their duties ethically, finance directors must ensure that the information published by their organisations provides a complete and precise view of the
position of the business, without concealing negative aspects that may distort the reader’s perception of its position.
This duty describes which of the following ethical principles?
Answer (Detailed Solution Below)
Business and Technology Question 13 Detailed Solution
The correct option is option 4
Additional Information:
A professional accountant acting in accordance with fundamental ethical principles is demonstrating objectivity when they give a complete and precise view, which by implication means that negative aspects should not be concealed or positive aspects accentuated.
Business and Technology Question 14:
Penny has recently placed some of his earnings into a scheme which is designed to reduce the amount of tax he pays to the Government. The scheme is legal, but a Government minister has described it as ‘frustrating the intentions of Parliament’. The scheme is therefore an example of:
Answer (Detailed Solution Below)
Business and Technology Question 14 Detailed Solution
The correct option is option 3
Additional Information:
- Tax evasion is illegal. Tax avoidance is used to describe schemes that frustrate the intentions of Parliament, while tax mitigation describes schemes that do not frustrate the intentions of Parliament.
Business and Technology Question 15:
BZ Ness Ltd is an organisation with a strongly traditional outlook. It is structured and managed according to classical principles: specialisation, the scalar chain of command, unity of command and direction.
Personnel tend to focus on their own distinct tasks, which are strictly defined and directed. Communication is vertical, rather than lateral. Discipline is much prized and enshrined in the rule book of the company.
From the scenario, what sort of culture does BZ Ness Ltd have, using Harrison’s classifications?
Answer (Detailed Solution Below)
Role culture
Business and Technology Question 15 Detailed Solution
Explanation:
The role culture is a bureaucratic or mechanistic culture, as described in the scenario. Task culture is project-focused; existential culture is person-focused; and power culture is leader-focused.
