NABTEB 2021 BUSINESS /MANAGEMENT CONSTRUCTION VERIFIED ANSWERS

(1)
span of control refers to the number of subordinates under a manager’s direct control.

(2)
[Pick any four]
(a) Advertisement in Newspapers:
(b) Employment Exchanges:
(C) Field Trips:
(d) Educational Institutions:
(e) Labour Contractors:
(f) Employee Referrals:
Telecasting:

(3)
Motivation is the process that initiates, guides, and maintains goal-oriented behaviors.

(4)
[Pick any two]
(a) Void contract :
– It involves illegal activity
– It is against public policy
– It is impossible to perform
– It involves a party who is not legally competent

(b) Voidable contract:
[Pick any two]
– Fraud or misrepresentation
– Terms are unconscionable
– Duress or undue influence
– Mutual mistake

(5)
[Pick any two]
(a) Setting Objectives
(b) Planning
(c) Execution
(d) Measurement
(e) Control

(6)
[Tabulate]

(a) Marginal Cost:
– It is the extra cost incurred for the manufacture of one extra unit of goods or services.

– Marginal cost is calculated to check if it is beneficial to manufacture an extra unit of goods/services or not.

– Marginal cost considered all costs it cannot separate between Variable cost and Fixed cost. Fixed cost remains constant up to a certain level of production.

– MC = Change TC Divided by change in the Total number of units manufactured

– With the help of Marginal cost, an organization can take a decision to increase profit at the production level.

(b) Average Cost :
– It is per unit cost of goods or services manufactured.

– The average cost is calculated to evaluate the effect on total unit cost due to the change in the output unit.

– The average cost is separated between Fixed cost and Variable cost.

– AC = TC (FC+VC) Divided by the Total number of units manufactured.

– With the help of Average cost, an organization can take the decision to reduce cost at a production level

(7)
An annuity is a contract between you and an insurance company in which you make a lump-sum payment or series of payments and, in return, receive regular disbursements, beginning either immediately or at some point in the future.

(8)
Lead time in inventory management is the lapse in time between when an order is placed to replenish inventory and when the order is received.

(9)
[Pick any four]
(a) Have A Goal
(b) Listen
(c) Adjust To Your Medium
(d) Stay Organized
(e) Be Persuasive
(f) Be Clear.
(g) Visuals Are Important.
(h) Use Stories.

(10)
a building, or collection of buildings, appropriated to the manufacture of goods;