Question

Match List-I (Functional Areas) with List-II (Standards): [h] {|l|l|} List-I (Functional Areas) & List-II (Standards)
(A) Production & (I) Quantity
(B) Marketing & (III) Sales-person's performance
(C) Human Resource Management & (II) Labour absenteeism
(D) Finance and Accounting & (IV) Flow of capital

• A. (A)-(I), (B)-(II), (C)-(III), (D)-(IV)
• B. (A)-(I), (B)-(III), (C)-(II), (D)-(IV)
• C. (A)-(I), (B)-(II), (C)-(IV), (D)-(III)
• D. (A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Hint:

To solve matching questions quickly, find the most obvious pair first. Most students find "Production-Quantity" easiest. Checking the options, only (A), (B), and (C) start with A-I. Then, link "HRM-Absenteeism," which is a classic HR metric, to narrow it down to the correct answer.

Answer 1

The Correct Option is B

Concept: In the controlling process of management, setting performance standards is the first step. These standards are criteria against which actual performance is measured. Different functional areas of a business require specific, measurable standards.

Step 1: Matching Production (A).
The production department focuses on manufacturing goods. The most direct standard for production is the Quantity of output produced (e.g., units per day) or quality levels. \[ \text{(A)} \to \text{(I)} \]

Step 2: Matching Marketing (B).
Marketing is concerned with selling products and reaching customers. A key metric here is the Sales-person's performance, which tracks how effectively the sales team is meeting targets. \[ \text{(B)} \to \text{(III)} \]

Step 3: Matching Human Resource Management (C).
HRM deals with the workforce. A standard used to measure the health of the labor force and employee engagement is Labour absenteeism (the rate at which workers are absent). \[ \text{(C)} \to \text{(II)} \]

Step 4: Matching Finance and Accounting (D).
This area manages the company's money. A critical standard is monitoring the Flow of capital (liquidity, cash flow, and capital structure) to ensure the business remains solvent. \[ \text{(D)} \to \text{(IV)} \]