Q. _____________is concerned with the design and delivery of advice and financial products.
✅ Correct Answer: (B)
Financial services
Functional Areas of Business MCQs and Notes
Q. _______________ is responsible for assessing customer wants and needs.
✅ Correct Answer: (A)
Marketing
Q. Which one of the following is not a factor affecting facility location planning?
✅ Correct Answer: (D)
Proximity to government offices
Q. ___________ refers to less variety in the design of products, that is, new products are designed such that there is no major variation from the existing products.
✅ Correct Answer: (D)
Standardization
Q. An inter-disciplinary activity requiring contributions from nearly all the functions of a firm such as marketing, design, manufacturing is
✅ Correct Answer: (A)
Product development
Q. Which one of the following phases (of the Product Planning and Control) tries to analyze the expedition of work-in-progress?
✅ Correct Answer: (C)
Control
Q. ________ is used to determine the time needed for the process, resources and machines to complete a certain step, activity or task.
✅ Correct Answer: (B)
Scheduling
Q. Operations management is applicable:
✅ Correct Answer: (C)
to manufacturing and service sector
Q. The duties and responsibilities of production managers witnessed in manufacturing organizations include:
✅ Correct Answer: (D)
All of the above
Q. The formulation, coordination and determination of activities in the manufacturing system is
✅ Correct Answer: (A)
Product planning and control