Fill in the blanks and choose the correct option on management principles and business environment.

1. The liability of the owner is unlimited in a sole proprietorship.
2. Memorandum of association is a legal function of management.
3. Planning is the process to decide the Standard Time.
4. Time Study is done to decide the Standard Time.
5. Use of a computer in place of a typewriter is an example of technological environment.
6. Reserve Bank is the Central Bank of India.
7. Debenture holders are not owners of the company.

Que 2: Choose the correct option from the following

1. Who formulated the Principles of Scientific Management - The correct option is (iii) F.W. Taylor. F.W. Taylor is widely recognized as the father of Scientific Management.

2. Which level of management is directly related to labours The correct option is (iii) Supervisory level. Supervisory level management (also known as operational or lower-level management) directly oversees the work of the labour force.