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CBSE Questions for Class 9 Elements Of Business Fundamentals Areas Of Business Quiz 4 - MCQExams.com
CBSE
Class 9 Elements Of Business
Fundamentals Areas Of Business
Quiz 4
The statement which best describes the function of Human Resources Planning is:
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An integrated set of processes, programs and systems in an organization that focuses on maximizing employee contribution in order to achieve organisational success.
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The process of ensuring that people required for running the company are being used as effectively as possible especially in fulfilling developmental needs in order to accomplish the organization's goals.
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The formal process of familiarizing new employees with the organization, new job, work units and culture values, benefits and accepted behavior.
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The process of effectively and efficiently managing your assets.
Explanation
Human resource planning is the continuous process of planning for achieving the optimum use of organisation's human resources. Its objective is to make the best match between jobs and employees avoiding any shortages. The process identifies organisation's strengths and weaknesses with the current employees and the skills, qualifications and experience of the employees and determines if these balance with the goal of the organisation and then takes further decision of staff requirements.
Hence, option (B) is the correct answer.
The first step in the human resources planning process is ______.
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Preparing a job analysis
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Forecasting future human resource needs
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Assessing future demand
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Assessing future supply
Explanation
Human resource planning is the process of forecasting organisation's demand and supply of manpower need in the future. The first and foremost step is to determine the objective for the process to carried on. The objective should be defined precisely so that the right number of people for the right kind of job is selected. It varies across different departments of the organization depending on their role and function.
Hence, option (B) is the correct answer.
What does a high rate of labour turnover mean?
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Percentage of employees in a workforce that leave during a certain period of time
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Loss of output
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Increased selection cost
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Added over time
Which approach that seeks to the link strategy, business, performance and HRM policies and practices, assumes that there are a number of HRM practices that are suitable for all organizations?
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Best practice
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Best fit
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Resource-based view
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Life cycle models
Explanation
Best practice method of human resource management states that there are a number of HR activities that can e followed by every organisation for a competitive advantage irrespective of the organisational structure. It shows the relationship between good practices of HR and organisational performance in terms of employee commitment and satisfaction. It integrates all the requirements for effective HRM into one method without considering the strategies and policies.
The scope of human resource management includes:
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Production
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Marketing
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Inventory management
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Training & Development
Explanation
Human resource management deals with the most valuable resource of the organization. It is the effective management of employees and bringing out the best from them so that it helps the organisation as well the employee to compete in the market. It aims at evaluating performance of the employees and providing them with training and development to the employees for better results and greater contribution to productivity.
Hence, option (D) is the correct answer.
The present value of the future contributions of employees is one of the methods of_______________.
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Human Resource Accounting
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Inflation Accounting
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Social Accounting
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Responsibility Accounting
Explanation
Human resource accounting is providing the cost of acquiring, allocating and maintaining human resources, developing effective management practices. This is done for better human resource planning i.e., how the employees be trained, skills to be provided so that they contribute for the organisation and lead to growth in future. It is done to reduce labour turnover so that the self confidence and morale of the employees increases and they work harder.
Which one of the following contains the three elements of service marketing triangle?
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Management, Marketing Agency and Consumer.
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Marketing Agency, Government and Consumer.
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Management, Employees and Marketing Agency.
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Management, Employees and Consumer
Explanation
The service marketing triangle suggests that there are three types of marketing that must be successfully carried out for a service organisation to succeed, and that all of them revolve around making and keeping promises to customers.
The internal marketing efforts between the management and the employees.
The external marketing efforts between management and consumer to set the promise.
The interactive marketing efforts between employees and consumer to deliver what is promised.
In which stage of HR intranet site development are multiple sites linked together to create a seamless experience for the individual?
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Personalised
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Integrated
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Transactional
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Brochureware
Explanation
The integrated method of human resource management understands the need for HRM in the competitive world to go ahead of all. It recognizes the need for reaching high through skilled employees, distinct organizational structure, management systems and processes. It is a combination of rational and progressive approaches dependent on strategic reference and two important variables i.e., reliance on the labor market in addition to quantity, and quality of control over the labor process.
Hence, option (B) is the correct answer.
After conducting the business analysis for developing a new product, a company must do ________.
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idea generation
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product positioning
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product development and testing
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test marketing
Explanation
Product developing and testing refers to the process of developing the best suitable product to meet the target market's needs and testing whether the product developed by the company actually satisfies the target market's needs or not.
The human resources management functions aims at_____________.
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Ensuring that the human resources possess adequate capital, tool equipment and material to perform the job successfully.
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Helping the organization deal with its employees in different stages of employment.
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Improving an organization's creditworthiness among financial institutions.
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Ensuring financial & marketing stability.
Explanation
Human resource management is the effective management of people in the organisation so that it help organisation compete in the market. It is responsible for looking after employees' benefits, recruitment, training and development , performance appraisal and rewarding. Training and development professionals ensure that employees are trained and have continuous development.
The field of HRM was founded on the idea that the competitive advantage of the organization relies on the following source of capital:
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Cultural, human and system capital
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Social, cultural and human capital
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cultural, source capital and system capital
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Cultural, human and source capital
Explanation
Human resource management is the evaluation of the organization's human resources, performance, needs, grievances, etc. It aims at the overall development of the employees so that they contribute more to the company's growth and help it compete with the outside market. It relies on the idea of social, cultural, and human capital. Social capital is the customer's satisfaction and loyalty toward the organization which helps it win over the competitors. Cultural capital is the unique method followed by the organization or the unique ideas which provide it an edge over its competitors. Human capital increases the income of individuals by enhancing their technical skills and generating more job opportunities.
Hence, option (B) is the correct answer.
Strategic human resources management involves :
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Financing project marketing related programming
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Setting employment standards and policies
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Linking human resources with strategic objectives to improve performance
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Project planning
Explanation
Strategic human resource management is the connection between a company's human resources and its strategies, objectives, and goals. It aims at improving flexibility, develops a fit organizational structure and improves business performance. For better implementation of strategic human resource management, the strategies need to be planned according to the needs of the employees as the company's growth is directly linked with the human resources.
Hence, option (C) is the correct answer.
The following are some of the ways that human resources can benefit through electronic systems, except ______.
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Online recruiting can eliminate paperwork and speed up the hiring process
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Online learning can slash travel costs and make training available anytime anywhere
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Working online can reduce the resistance sometimes experienced from employees
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Online retirement planning can help employees map out their future while reducing questions and paperwork for HR
Explanation
Electronic system of work has benefited the organisation and reduced the burden on the employees of physical work. It eliminates tiring processes, expenses and is available anywhere, anytime.
One limitation of working through electronic systems is that the employees' resistance and grievances cannot be easily expressed. The gap between the employees and the managers widens with the electronic system. The managers cannot know what are the problems faced by the employee and correct them.
Hence, option (C) is the correct answer.
Indicate the correct statement_________.
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India has been a pioneer in social marketing
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Advertising Standards Council of India is a statutory body set up by government of India
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Both A and B are incorrect
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Both A and B are correct
If one were to think of HR as a business, which of the following product lines involve developing effective HR systems that help the organization meet its goals for attracting, keeping and developing people with the skills it needs?
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Administrative services
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Business partner services
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Strategic partner
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Product quality audit
Explanation
HR business partners work with the senior managers and develop strategies and plans to support the overall aim of the organisation. It helps in developing effective programs for the employee training and development, reward, increments, etc. It plays a key role in making the employees comfortable at work and communicating about the company's targets and strategies.
The critical role of the SHRM application tool is to:
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Outline techniques, frameworks, and six steps that must be followed to effectively implement change in an organization
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Develop a better strategic management process to deal with the dynamic changing environment of organisation
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Identify and access a narrow group of actions and plan how the organization can overcome resistance to change
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Identify if the organization has enough staff, if the staff need training, if the compensation practices are appropriate, and if jobs are designed correctly
Explanation
Strategic human resource planning (SHRM) is the examining the behaviour of the employees and take steps to retain them in the organisation for the benefit of employees as well as the organisation. It does not works alone for a single department, it interacts with all the departments and make strategies similar to their objectives and those of the organisation.
The most important role is to utilise the talent and opportunity of the employees to make the working of the organisation more effective and competitive. It has to make strategies and plans according to the changes happening in the business environment.
Human resources management is the formal part of an organization responsible for all of the following aspects of the management of human resources, except:
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System, processes, and procedures
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Policymaking, implementation, and enforcement
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Strategy development and analysis
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Management of the organization's finances
Explanation
Human resource management deals with the employees, looking after their work, training and development of the employees, looking after the manpower requirement and recruiting. It aims at increasing the productivity of the organization by optimizing the effectiveness of the employees.
It does not deal with the management of the organization's finances as it comes under finance management.
Hence, option (D) is the correct answer.
The offer curve shows
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the exchange ratio between two commodities in terms of opportunity costs
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the various quantities of its exportable commodity a country is willing to exchange for an importable commodity at various international prices
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factor price = Marginal product of the factor
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capital inflows
Explanation
The offer curve shows the different quantities of a particular commodity demanded by one country from the other at the different relative prices of their products. ...
How often is HR planning process implemented within an organisation?
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Continuously
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Annually
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Bi-annually
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Quarterly
Explanation
The human resource manager continuously evaluates and examines the performance of the employees and the skills in them as required by the job. Providing training to employees who require improvement, performance appraisal in the form of promotion and transfers. It has to comply with the organization's plans continuously. In case of expansion, the number of employees has to be increased through new recruits and finding the best candidate to fill the position.
It is a continuous process as the employees would not be satisfied and eventually the organization's goals will be suffered.
Hence, option (A) is the correct answer.
The best hiring occurs when the goals of which of the following should consistent to each other?
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HR managers, Finance Managers
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Head Office, Branch
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Organisation, Individual
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Lower Managers, Top Managers
Who propounded Mega marketing?
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Mc Aurthy
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Philip Kotler
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Sheth
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Peter F Drucker
Explanation
Mega marketing refers to marketing activities needed to manage the elements of the firm's external environment and which try to control the same. This environment consist of legal, political, social, technological factors.
Bull dogs bonds are ______________________.
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Dollar denominated foreign bonds raised in the UK domestic securities market
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Sterling denominated foreign bonds raised in the UK domestic securities market
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Sterling denominated foreign bonds raised in the Us domestic securities market
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Euro denominated foreign bonds raised in the UK domestic securities market
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None of the above
Explanation
Bulldog bonds are sterling denominated foreign bonds which are raised in the UK domestic securities market.
What is/are the operative function(s) of human resource management?
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Employment
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Development
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Procurement
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All of the above
Explanation
Human resource management deals with the effective management of the employees of the organization. It assesses the performance of the current employees and notes the manpower requirement of the organization. It procures new talents for the organization according to the requirement of the job. It provides training and development opportunities to the employees to develop their skills and contribute more.
It also employs and trains unskilled unemployed workers and increases the employment level.
Hence, option (D) is the correct answer.
Which of the following functions of HRM deals with 'Collective Bargaining'?
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Staffing
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Forecasting
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Employee-assistance management
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Employee relations management
Explanation
Employee relation management refers to managing the relationship between the various employees in the organization. Collective bargaining is the group process of negotiating work-related issues with the hope of coming to an agreement. It depends on mutual understanding and give and take principles between the employer and the employees. It helps the unskilled workers to voice their opinion and grievances to their superiors.
It helps in creating a friendly environment in the organization when the views of the subordinates are heard. It boosts the morale of the employees and they contribute more to the organization.
Hence, option (D) is the correct answer.
A product line strategy wherein a company adds a higher priced product to a line in order to attract a broader market which helps the sale of its existing lower priced products is called ________.
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trading up
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trading down
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life cycle extension
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product line extension
Explanation
Trading up is a type of selling in which the customer is persuaded to buy a more expensive item, or a larger quantity of the same item than originally intended in exchange for an attractive discount or some other incentive.
The Government of India introduced "The Workers' Participation in Management' Bill in Parliament in _______.
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1983
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1988
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1990
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1981
Explanation
The Government of India introduced "The Workers' Participation in Management" Bill in 1990.
Workers' participation in management is the involvement of the non-managerial employees in decision making process. It implies mental and emotional involvement of the employees in the works of the organisation. It focuses on democratic form of the organisation where employees express their opinions and contribute to the managerial decisions.
Although many authors experience difficulty in distinguishing between personnel management and HRM, it can be argued that HRM is the elevation of the personnel management to a more .....................level.
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Strategic
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Organizational
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Operational
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Centralized
Explanation
Personnel management is the traditional way of managing employees focusing on adherence to the policies and rules of the organisation and placing the right person at the right job.
Human resource management is the modern concept of managing focusing on correct placement, training and overall development and proper utilisation of human resources. HRM is a much wider concept as it allows flexibility and satisfaction of organisation and employees while personnel management is more rigid in context of communication and fulfillment of organisational goals.
Hence, Option (B) is the correct answer.
What is not an operative function of HRM?
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Procurement
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Development
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Organising
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Integrating
Explanation
Human resource management (HRM) deals with effective management of the employees, their working according to the requirement of the job and contribution towards the growth of the organisation.
It brings new employees with the required skill of the job provides training and development opportunities to the employees and integrates the objectives and requirements of the organisation as well as the employees.
Organising is the task of the managers to organise all the resources in the organisation required for performing a job. It is not a function of HRM.
Hence, Option (C) is the correct answer.
HRM is more _________whereas Personnel Management is slightly narrow.
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Complex
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Detailed
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Mechanical
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Growth-oriented
Explanation
Personnel management focuses on fulfilling the organizational goals with the help of the employees. It aims at removing the employees as there is a change in the technological environment and the employee do not have the required skills for the job.
Human resource management is a much wider concept. It aims at the satisfaction of the employee and the organization. It retains the employees in the organization for better contribution and performance, providing them development opportunities. It is more growth-oriented than personnel management.
Hence, option (D) is the correct answer.
Internal user is ________of the business entity.
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Bank
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Compititors
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Customer
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Management
Explanation
Management and cost accountants are good examples of
internal users
. They are
managers inside
the organization who have knowledge about the inner workings of the
company
and can
use
this knowledge to improve the
business
' performance.
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