MGT211 Midterm Past Paper Spring 2007 Session 4

MIDTERM EXAMINATION

SPRING 2007 MGT211 - INTRODUCTION TO BUSINESS (Session - 4 Marks: 40 Time: 90min

Student Name: Center Name/Code: Exam Date: Thursday, April 26, 2007

ƒ All questions are compulsory. ƒ There are ten Multiple Choice Questions (MCQs)- carrying 1 mark each; five Fill in the Blanks statements carrying 1 mark each; three Short Questions carrying 5 marks each and; one Descriptive Question carrying 10 marks. ƒ You should try to complete objective type questions in 10 – 15 minutes in order to give yourself enough time for descriptive and short questions. ƒ You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the test. ƒ For each MCQ, read the choices available and select the choice which you consider is the

Correct option: ƒ Remember not to spend too much time on any one MCQ. Since all MCQs carry equal marks, it is important to manage your time and response the test questions effectively. ƒ Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event.

Question Question Marks Question Marks

Q1. When entrepreneurs establish a business, they must first decide on the form of: (1 marks)

Partnership

Ownership

Expansion

Organization

Q2. Generally, in a limited partnership: (1 marks)

All partners have limited liability.

The partners exist for a limited time period.

The limited partners do not participate in management of the company.

Not more than 75 partners may invest in the company at one time.

Q3. The “leading” function of management should be conducted in a manner that is consistent with firm’s: (1 marks)

Competition

Strategic plan

Industry demand

1. Labor union

Q4. The skills managers use to understand the relationships among the various tasks of the firm are: (1 marks)

Interpersonal skills

Technical skills

Decision making skills

Conceptual skills

Q5. The four functions of management: (1 marks)

Must be enacted in the proper sequence

Must be integrated

Are stand alone, independent functions

Can not be performed by one individual

Q6. Social interaction and acceptance by others are examples of: (1 marks)

Physiological needs

Safety needs

Affiliation needs

Esteem needs