ABM-INTERMEDIATE ROUND

1. What is the primary purpose of financial accounting?

•   a) To manage human resources

•   b) To analyze market trends

•    c) To record and report financial information

•    d) To develop marketing strategies

2. Which of the following is an example of a fixed cost in a business?

•    a) Raw materials

•    b) Utility bills

•    c) Direct labor

• d) Advertising expenses

3. What is the role of a budget in business management?

•   a) To track employee attendance

•   b) To manage customer relationships

•    c) To control costs and allocate resources

•    d) To create marketing campaigns

4. What is the purpose of market research in business?

•   a) To develop financial statements

•  b) To forecast future sales

•  c) To manage supply chain operations

• d) To hire and train employees

5. What does the acronym SWOT stand for in business analysis?

•    a) Strengths, Weaknesses, Opportunities, Threats

•    b) Sales, Workforce, Operations, Technology

•    c) Supply, Warehousing, Ordering, Transportation

•    d) Strategy, Workflow, Objectives, Targets

6. What is the purpose of a business plan?

•    a) To analyze competitor strategies

•    b) To secure funding for a business venture

•    c) To develop pricing strategies

•    d) To manage customer complaints

7. What is the role of ethics in business management?

•   a) To maximize profits at any cost

•    b) To ensure compliance with legal regulations

•    c) To exploit customers for financial gain

•    d) To promote fair and responsible business practices

8. What is the primary function of human resource management?

•    a) To prepare financial statements

•    b) To manage employee recruitment and development

•   c) To forecast market demand

•    d) To negotiate contracts with suppliers

9. What is the purpose of a balance sheet in accounting?

•    a) To track sales revenue

•   b) To record daily transactions

•    c) To analyze market trends

•    d) To provide a snapshot of a company's financial position

10. What is the role of marketing in business management?

•  a) To manage payroll and employee benefits

•   b) To track inventory levels

•    c) To create customer awareness and generate sales

•   d) To analyze financial statements