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Explanation

• Civil society is included in New Public Governance (NPG).
• NPG emphasizes cooperation among the government, private sector, and civil society.
• It focuses on networks, partnerships, participation, and collaboration.

Last verified on 13-08-2026

Explanation

• Market power exists when a firm can set price above marginal cost.
• It means the firm has the ability to influence the market price.
• Under perfect competition, firms generally cannot set price above marginal cost.
• Market power is commonly associated with monopoly and imperfect competition.

Last verified on 13-08-2026

Explanation

• Internal Management Accounts are NOT normally presented at an Annual General Meeting (AGM).
• Annual Financial Statements are presented to shareholders at the AGM.
• The Auditor’s Report is also presented as part of the annual reporting process.
• The Director’s Report provides information about the company’s performance and affairs.
• Internal management accounts are mainly prepared for internal decision-making and management use.

Last verified on 13-08-2026

Explanation

• Leasing is a Financing decision.
• A method of acquiring assets through rental payments rather than purchase.
• Avoids a large upfront cash outlay.
• An alternative to debt or equity for funding assets.

Additional information 

• Lessor: The legal owner who provides the asset
• Lessee: The user who pays to use the asset without owning it.

Last updated on 25-08-2026

Explanation

• A P/E ratio of 50 generally indicates a high valuation.
• The P/E (Price-to-Earnings) ratio compares a company's share price with its earnings per share.
• A P/E of 50 means investors are paying Rs. 50 for every Rs. 1 of current earnings.
• A high P/E may indicate high growth expectations or that the stock is relatively expensive.

Last verified on 13-08-2026

Explanation

• Decision-making which is too simplistic means choosing among alternatives without full analysis.
• It involves making a decision without carefully examining all relevant information.
• Such decisions may overlook risks, consequences, and better alternatives.
• Effective decision-making generally requires evaluating available information and alternatives.

Last verified on 13-08-2026

Explanation

• Market power: influencing price above the competitive level
• Firm has some ability to affect its product's market price
• Usually linked to limited competition
• Enables charging above the competitive price

Last updated on 25-08-2026 by NS

Explanation

• The organizing function is related to assigning duties, allocating resources, and structuring the organization.
• It determines who will do what and how tasks will be coordinated.
• It involves arranging people, authority, responsibilities, and resources.

Last verified on 13-08-2026

Explanation

• The concept of Politics-Administration Dichotomy was given by Woodrow Wilson.
• Woodrow Wilson introduced the idea in his famous 1887 essay, “The Study of Administration.”
• He argued that politics and administration should be treated as separate spheres.
• Politics focuses on policy-making, while administration focuses on policy implementation.

Last verified on 13-08-2026

Explanation

• The Behavioral Approach was a reaction against the Classical Approach, Policy-Administration Dichotomy, and Scientific Management.
• It developed strongly during the 1930s–1950s as scholars focused more on human behavior.
• The approach emphasized human relations, motivation, group behavior, and decision-making.
• It challenged the rigid and mechanical view of traditional administration.

Last verified on 13-08-2026