Managerial Economics - 27

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Managerial Economics



True/False
Question When a firm's average revenue (A.R) is less than its average
cost, it earns only normal profit.
Correct Answer False
Your Answer True


Multiple Choice Single Answer
Question The indivisible goods whose benefits cannot be priced are
called
Correct Answer Pure public goods
Your Answer Pure public goods


True/False
Question The opportunity cost of a product is the opportunity gained
of being able to produce some other product.
Correct Answer False
Your Answer True


Select The Blank
Question The indivisible goods to which the principle exclusion does
not apply are called ________ goods.
Correct Answer pure public
Your Answer private


True/False
Question Giffen goods are superior goods.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question Defects of market system:
Correct Answer Inequalities of income and wealth , Emergence of
monopolies , Failure to provide full employment
Your Answer Inequalities of income and wealth , Emergence of monopolies


Multiple Choice Single Answer
Question The number of sellers operating under monopolistic
competition as compare to oligopoly is
Correct Answer larger
Your Answer smaller


True/False
Question The distinction between fixed costs and variable costs is
relevant in the short period only.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The promoters of a company can get incorporated by filing
with the registrarof companies various documents such as
Correct Answer Memorandum of Association , Articles of Association
, Prospectus
Your Answer Memorandum of Association , Articles of Association ,
Prospectus


Multiple Choice Single Answer
Question The General Theory of Employment, Interest and Money in 1936
was published by
Correct Answer J.M. Keynes
Your Answer J.M. Keynes


Select The Blank
Question Modern economists treat social cost and benefits as ________
of private investment and production decisions.
Correct Answer externalities
Your Answer advantages


Multiple Choice Single Answer
Question The Risk Taking Theory was developed by Hawley, who was an
Correct Answer American Economist
Your Answer American Economist


Match The Following
Question Correct Answer Your Answer

Motor cars Tangible goods Alternative uses

Wants Insatiable Prescriptive in nature

Managerial Economics Prescriptive in nature Tangible goods

Resources Alternative uses The theory of distribution

Division of society's output of goods and services The theory of
distribution Insatiable

Multiple Choice Single Answer
Question When input and output increase in the same proportion, the
phase of returns are
Correct Answer constant
Your Answer increasing


True/False
Question Demand and desire are one and the same.
Correct Answer False
Your Answer False


True/False
Question The demand curve has a negative slope.
Correct Answer True
Your Answer False


Select The Blank
Question "Homeostatic Approach" as an alternative objective of firms
was suggested by ________.
Correct Answer Prof. Kenneth Boulding
Your Answer Prof. Kenneth Boulding


True/False
Question Price is the, only determinant of demand
Correct Answer False
Your Answer False


Select The Blank
Question Output rises in a lesser proportion to that of the increase
in input, under the case of ________.
Correct Answer decreasing returns to scale
Your Answer decreasing returns to scale


Multiple Choice Single Answer
Question Besides private sector, the other type of business
organization is
Correct Answer joint sector
Your Answer co-operative organizations


Multiple Choice Single Answer
Question Jevons' , the economists who defined the term 'market'
different from that of the traditional sense is an
Correct Answer English economists
Your Answer English economists


Multiple Choice Single Answer
Question If a person is habituated to the consumption of a commodity
and if he cannot easily give up its use, demand for it is generally
Correct Answer inelastic
Your Answer unitary elastic


Multiple Choice Multiple Answer
Question Features of an Industry are
Correct Answer All firms dealing in the same line of business , The
ownership and management of each firm is different , Is a group of firms
Your Answer All firms produce different goods , All firms dealing in the
same line of business


True/False
Question Measurement of profit becomes difficult because of the
difficulty involved in the calculation of depreciation.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Conditions of Price Discrimination are:
Correct Answer The two markets in which the product is sold should
be kept separate , The elasticity of demand in different markets should be
different , Market must be imperfect
Your Answer The elasticity of demand in different markets should be
different , Market must be imperfect


Match The Following
Question Correct Answer Your Answer

Depression Unemployment Increases purchasing power

Moral suasion Persuasive method Low purchasing power

Bank rate Quantitative credit control measure Persuasive method

Inflation Low purchasing power Unemployment

Multiple Choice Multiple Answer
Question Features of Pure Competition are
Correct Answer Large number of buyers and sellers , Homogeneous
products , Free entry and free exit of firms
Your Answer Transportation cost , Large number of buyers and sellers ,
Homogeneous products


Multiple Choice Single Answer
Question According to Prof. F.H. Knight, profit is a reward for
Correct Answer uncertainty bearing
Your Answer innovation


Select The Blank
Question The out of pocket costs are ________.
Correct Answer Explicit costs
Your Answer Explicit costs


Select The Blank
Question On the ________ level, the summation of maximum individual
welfare does not automatically lead to maximum social welfare.
Correct Answer macro
Your Answer micro


Multiple Choice Multiple Answer
Question Internal Economies involves
Correct Answer Advantages of large-scale production , Low cost of
production , It avails benefits of cheaper finance
Your Answer Advantages of large-scale production , Low cost of
production , It avails benefits of cheaper finance


Multiple Choice Multiple Answer
Question We say that a nation faces economic problems , under
following conditions
Correct Answer Man has unlimited wants or ends , The means or
resources to satisfy them are limited , These resources are not specific but
have alternative uses
Your Answer Man has unlimited wants or ends , The means or resources to
satisfy them are limited


Select The Blank
Question In the 3rd stage of operation of the law of variable
proportions, the marginal product becomes ________.
Correct Answer negative
Your Answer zero


Multiple Choice Multiple Answer
Question Main aims of the New Industrial Policy (1991) are
Correct Answer To unshackle the indian industrial economy from the
cobwebs of unnecessary bureaucratic control , To introduce liberalization
with a view to integrate the indian economy with the world economy , To
remove restrictions on direct foreign investment as also to free the
domestic entrepreneur from the restriction of MRTP act
Your Answer To unshackle the indian industrial economy from the cobwebs
of unnecessary bureaucratic control , To introduce liberalization with a
view to integrate the indian economy with the world economy


Multiple Choice Single Answer
Question The relation between variable input and ouput
Correct Answer is direct
Your Answer is direct


Multiple Choice Multiple Answer
Question Government intervention is needed in free market mechanism
to
Correct Answer To provide employment to all who willing to work at
prevailing wage rate , Factors of production are optimally allocated between
the various industries , All will get sufficient income to meet their basic
needs
Your Answer To provide employment to all who willing to work at
prevailing wage rate , Factors of production are optimally allocated between
the various industries


Select The Blank
Question The index numbers which measure the changes in the general
price level of a country refers to ________
Correct Answer Wholesale prices index
Your Answer Customer price indices


True/False
Question The rise in prices is basically because of shortages of
basic goods & services and a rapid growth of money supply.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The sole proprietorship type of organization is found in
Correct Answer Agriculture, , Retail trade, , Hotel,
Your Answer Agriculture, , Retail trade,


Multiple Choice Multiple Answer
Question According to Keynes there are three motives for holding cash
for liquidity preference
Correct Answer the transactions motive , the precautionary motive ,
the speculative motive
Your Answer the transactions motive , the precautionary motive , the
speculative motive


Select The Blank
Question Cost-benefit analysis refers to the analysis undertaken to
judge any projects ________ whether government or private and find out its
worth.
Correct Answer investments
Your Answer profits


Multiple Choice Single Answer
Question In the law of variable proportion, a stage is reached when
marginal product is
Correct Answer zero
Your Answer zero


True/False
Question Profit should be large enough for a plough - back for
business expansion.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Average propensity to consume is characterized as follows
Correct Answer the ratio of consumption expenditure to any
particular level of income , It is found by dividing consumption expenditure
by income , It is expressed as the percentage of income consumed
Your Answer the ratio of consumption expenditure to any particular level
of income , It is found by dividing consumption expenditure by income


Multiple Choice Single Answer
Question Market mechanism is characterized by
Correct Answer instability
Your Answer stability


Select The Blank
Question Supply is predominantly determined by ________.
Correct Answer stock
Your Answer demand


Select The Blank
Question The externality which causes an economic gain or an economic
loss to other economic units is also referred to as ________ externality.
Correct Answer Pecuniary
Your Answer Financial

Read more »

Posted in: Managerial Economics (Set IX)

Organizational Behaviour - 20

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Multiple Choice Multiple Answer
Question Situation where individual differences are unimportant
Correct Answer Earthquake , Drought , Flood
Your Answer Earthquake , Drought , Flood


True/False
Question The super ego acts as a censor on the individual.
Correct Answer True
Your Answer False


True/False
Question Values and attitudes are acquired and learned from
experience with people and objects.
Correct Answer True
Your Answer True


True/False
Question Some of the attitudes are developed through imitation.
Correct Answer True
Your Answer True


True/False
Question Organizational commitment by employees does not lead to
loyalty.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question Perception is
Correct Answer It is a Process
Your Answer It is human behaviour


Multiple Choice Single Answer
Question Needs are the result of
Correct Answer imbalance
Your Answer wants


Multiple Choice Single Answer
Question Physical surrounding affects
Correct Answer Production
Your Answer Production


Multiple Choice Single Answer
Question Conflict the result of
Correct Answer In compatible goals
Your Answer In compatible goals


True/False
Question There are five primary levels of conflicts.
Correct Answer False
Your Answer False


True/False
Question If organizations' interests suffer, it does not impact
employees interest
Correct Answer False
Your Answer False


Match The Following
Question Correct Answer Your Answer

Organization help people achieve their own personal objectives At the same
time people help organizations achieve its objectives At the same time
people help organizations achieve its objectives

Performance results are minimum In autocratic model of organization In
autocratic model of organization

Managers do not bother to motivate, guide, develop employees organization
In custodial model of organization In custodial model of organization

HR manager comes late frequently He is reluctant to talk on time
management He is reluctant to talk on time management

Employees who are regular and punctual To be rewarded by organization in
order to encourage desired behavior To be rewarded by organization in
order to encourage desired behavior

True/False
Question Change takes place in all part of organization.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question Human beings are
Correct Answer Susceptible to stress
Your Answer Susceptible to stress


Multiple Choice Single Answer
Question Stress is non specific response of the body to
Correct Answer Stimulations
Your Answer Work


True/False
Question Ego i.e attachment to self temptations envy or hate, or the
,main organizational stressors
Correct Answer False
Your Answer True


Match The Following
Question Correct Answer Your Answer

Organization culture Employee behaviours Employee behaviours

Procedures and policies Shapes organization culture Shapes organization
culture

Reward system and measurement Affect organization culture Affect
organization culture

Bureaucratic culture Values rules and regulation Values rules and
regulation

Tradition, loyalty Attributes of clan culture Attributes of clan
culture

Multiple Choice Single Answer
Question Extra - organizational activities influence human behaviour
act
Correct Answer Work
Your Answer Work


Multiple Choice Single Answer
Question Free rein leaders avoid power and
Correct Answer Responsibility
Your Answer Responsibility


True/False
Question The authoritarian leader encourages group discussion and
decision- making
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question Organization shows
Correct Answer Hierarchy of authority
Your Answer Hierarchy of authority


Select The Blank
Question Perhaps the most ________ factor that contributes to
________ is the physical stature of an individual
Correct Answer outstanding
Your Answer outstanding
Correct Answer personality
Your Answer personality


Select The Blank
Question 1) Organizations are the grand strategies created to bring
________ to a concerted effort for the achievement of certain ________ .
Correct Answer order
Your Answer disciplines
Correct Answer objectives
Your Answer objectives


Select The Blank
Question Manager is not the ________ but a leader in ________ model
of organization.
Correct Answer boss
Your Answer boss
Correct Answer supportive
Your Answer supportive


Select The Blank
Question ________ can be high in spite of morale being low because of
________ systems and controls imposed by management
Correct Answer Productivity
Your Answer Productivity
Correct Answer rigid
Your Answer rigid


Select The Blank
Question ________ means the ________ of employees and group towards
their work environment
Correct Answer Morale
Your Answer ethics
Correct Answer attitude
Your Answer attitude


Multiple Choice Single Answer
Question Procedures and policies provide foundation for developing
Correct Answer A good work culture in the organization
Your Answer A good work culture in the organization


Select The Blank
Question Organizational ________ is still a relatively new,________
and little understood management concept
Correct Answer culture
Your Answer culture
Correct Answer controversial
Your Answer controversial


Select The Blank
Question Finding the most ________ sub ________ in the organization
and using it as an example from which employee can learn.
Correct Answer effective
Your Answer effective
Correct Answer culture
Your Answer process


Select The Blank
Question Pressure for ________ are created both outside and ________
the organization
Correct Answer change
Your Answer change
Correct Answer inside
Your Answer inside


Select The Blank
Question Management of ________ is incomple without proper ________
Correct Answer change
Your Answer change
Correct Answer follow up.
Your Answer follow up.


Multiple Choice Single Answer
Question Effective group has
Correct Answer Shared goals
Your Answer Shared goals


Multiple Choice Single Answer
Question Organizational communication is of different
Correct Answer types and forms
Your Answer types and forms


True/False
Question A purpose, expressed as a message to be conveyed, passes
between a source ( the sender ) and a receiver
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Hawthorne studies are of utmost significance as they form an
honest and concerted attempt to understand
Correct Answer The human factor , Recognize the employee attitude ,
Workers social situation on the job
Your Answer The human factor , Recognize the employee attitude


Multiple Choice Multiple Answer
Question The cost of tensions and worries created by wrong kind of
personalities are enormous in terms of.
Correct Answer Employee-employer relation. , Supervisor-subordinate
relation. , Peers relations.
Your Answer Employee-employer relation. , Supervisor-subordinate
relation. , Peers relations. , Group relations


Multiple Choice Multiple Answer
Question According to Frend the human mind is composed of
Correct Answer Preconscious mind , Conscious mind , Unconscious
mind
Your Answer Preconscious mind , Conscious mind , Subconscious mind


Multiple Choice Multiple Answer
Question Secondary motives
Correct Answer Power , Affiliation , Achievement
Your Answer Power , Affiliation


Multiple Choice Multiple Answer
Question The hygiene factors are like
Correct Answer Technical supervision , Salary , Personal life
Your Answer Personal life , Achievement


Multiple Choice Multiple Answer
Question Characteristic of group think
Correct Answer Collective rationalization , Stereotypical views ,
Direct pressure
Your Answer Collective rationalization , Stereotypical views , Direct
pressure


Multiple Choice Multiple Answer
Question Consultative leader
Correct Answer Shows confidence in subordinates , Retain control in
his hands , Retain decision making in his hands
Your Answer Shows confidence in subordinates , Retain control in his
hands


Multiple Choice Multiple Answer
Question Theories of leadership
Correct Answer Trait theory , Fiedler's theory , Life cycle theory
Your Answer Trait theory , Fiedler's theory , Life cycle theory


Multiple Choice Multiple Answer
Question Kurt lewin suggested three phase process for change in
people
Correct Answer Unfreezing , Changing , Refreezing
Your Answer Unfreezing , Changing , Refreezing


Multiple Choice Multiple Answer
Question Constantly changing external environment forces an
organization to address
Correct Answer Mission , Long term goals , strategy
Your Answer Mission , Long term goals , Production practices


Multiple Choice Multiple Answer
Question Cultural diversity brings with it
Correct Answer Intra organizational conflicts , Communication
difficulties , turnovers
Your Answer Communication difficulties , turnovers


Multiple Choice Multiple Answer
Question Improving communication at the individual level include
Correct Answer sending , choosing channels , receiving
Your Answer sending , choosing channels , receiving


Select The Blank
Question Working requires greater ________ and interaction ________
workers
Correct Answer co-ordination
Your Answer co-ordination
Correct Answer among
Your Answer among

Read more »

Posted in: Organizational Behaviour (SET VI)

Organizational Behaviour - 19

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Multiple Choice Single Answer
Question The stage which relates to development of decision making
abilities, interpersonal and technical competencies is known as :
Correct Answer Storming
Your Answer Storming


True/False
Question Feeling of insecurity usually makes a man under-productive.
Correct Answer True
Your Answer True


Match The Following
Question Correct Answer Your Answer

Ideal self Roger Roger

Per sonare to sound through to sound through

Ego Frend Frend

Traits All port All port

Physical structuring Sheldon Sheldon

Select The Blank
Question Individual initiative, flexibility and freedom are
encouraged in________culture.
Correct Answer entrepreneurial
Your Answer entrepreneurial


True/False
Question OB is mainly concerned with the study of human behavior at
work.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question The great depression contributed to the rise of:
Correct Answer Human relations movement
Your Answer Human relations movement


Multiple Choice Multiple Answer
Question Resistance to Cultural Change is directly depends on:
Correct Answer Magnitude of change , Strength of the prevailing
culture
Your Answer Magnitude of change , Strength of the prevailing culture


Match The Following
Question Correct Answer Your Answer

Wagner Act Labour movement Labour movement

Scientific Management movement Wage payment plans Wage payment plans

Hawthorne Experiments Human relations Human relations

Hugo Munsteberg Psychology and industrial efficiency Psychology and
industrial efficiency

Multiple Choice Single Answer
Question Hawthorne studies point out that:
Correct Answer The need for recognition and security exert greater
impact on productivity than the physical working conditions.
Your Answer The need for recognition and security exert greater impact
on productivity than the physical working conditions.


True/False
Question Maximum adaptation occurs during the stage of resistance.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The blue print of human behaviour at work is represented by
Correct Answer Procedures , Rules , Regulations
Your Answer Rules , Regulations , Procedures


Multiple Choice Multiple Answer
Question To be efficient every manager must try to
Correct Answer Understand human behaviour , Predict human behaviour
, Control human behaviour
Your Answer Understand human behaviour , Predict human behaviour ,
Control human behaviour


True/False
Question If the stress persists, or the defensive reaction proves
ineffective, the organism develops itself for the fight mechanism.
Correct Answer False
Your Answer False


Select The Blank
Question A ________ person has a cause and an ideology to fight for
achieving the set goal.
Correct Answer Self-actualized
Your Answer Self-actualized


Select The Blank
Question The first stage of alarm reaction includes an initial
________ phase, in which the resistance is lowered.
Correct Answer Shock
Your Answer Shock


True/False
Question Repetitive tasks give rise to the same degree of boredom in
all persons.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question The philosophy that guides an organization's policies
towards its employees and customers is an important part of
Correct Answer Organizational culture
Your Answer Organizational culture


Select The Blank
Question The ________ leadership style is an expression of the
leader's trust in the abilities of his subordinates.
Correct Answer Participative
Your Answer Participative


Select The Blank
Question ________ in one form of dominance, in which the followers
more or less willingly accept direction and control by another person.
Correct Answer Leadership
Your Answer Leadership


Multiple Choice Multiple Answer
Question Basic Organizational Behaviour concepts take into
consideration
Correct Answer Nature of people , Nature of organization
Your Answer Nature of people , Nature of technology , Nature of
organization


True/False
Question A manager can be effective by just having a sound knowledge
of his area of work
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question During which phase it is seen that the adaptation energy is
exhausted and the resistance level begins to decline in an irreversible
manner?
Correct Answer State of exhaustion
Your Answer State of exhaustion


Select The Blank
Question According to Vroom's theory, ________ is the result of
multiplication of valence and expectancy.
Correct Answer Motivation
Your Answer Motivation


Multiple Choice Multiple Answer
Question Name the groups of core needs identified by Alderfer
Correct Answer Existence , Relatedness , Growth
Your Answer Existence , Relatedness , Growth


Multiple Choice Multiple Answer
Question The storming stage relating to development of a team is
characterised by which of the following aspects?
Correct Answer Emergence of conflicts , Seeking task related
guidance from the leader , Deciding the responsibilities of each team member

Your Answer Emergence of conflicts , Seeking task related guidance from
the leader , Deciding the responsibilities of each team member


Multiple Choice Single Answer
Question Which theory assumes that the manager's role is to coerce
and control employees?
Correct Answer Theory X
Your Answer Theory X


Multiple Choice Multiple Answer
Question What are the principles of job enlargement?
Correct Answer Rotating the assignments , Challenging the employees
by increasing the expected production , Adding other tasks to the job
Your Answer Challenging the employees by increasing the expected
production , Adding other tasks to the job , Rotating the assignments


True/False
Question Rest pauses provide an opportunity to talk and think only
about job-related activities
Correct Answer False
Your Answer False


Select The Blank
Question The multinationals which come on the Indian scene enjoy
superior resources in terms of________technology as well as market network.
Correct Answer money
Your Answer money


Multiple Choice Multiple Answer
Question The major contributors to the development of Organizational
Behaviour are:
Correct Answer Industrial psychology , Scientific management
movement , Human relations movement
Your Answer Industrial psychology , Scientific management movement ,
Human relations movement


Select The Blank
Question The ________ motivator includes introducing new and more
difficult tasks to an employee, who will be doing them for the first time.
Correct Answer Growth and learning
Your Answer Growth and learning


Multiple Choice Single Answer
Question In Organizational Behaviour, 'caused behaviour' means
Correct Answer By his own behaviour, a manager can affect how an
employee behaves.
Your Answer By his own behaviour, a manager can affect how an employee
behaves.


True/False
Question Career development of employees facilitates development of
whole person concept.
Correct Answer True
Your Answer True


True/False
Question Illumination Experiment is a part of Hawthorne experiments.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The features of team empowerment are as follows:
Correct Answer Potency , Autonomy , Impact
Your Answer Potency , Autonomy , Impact


Multiple Choice Multiple Answer
Question Fiedler has described situational favorableness in terms of
three empirically derived dimensions, viz:
Correct Answer The leader member relationship , The degree of task
structure , The leader's positional power
Your Answer The leader member relationship , The degree of task
structure , The leader's positional power


Multiple Choice Single Answer
Question High competitiveness and profit orientation is a
characteristic of which type of organizational culture?
Correct Answer Market
Your Answer Market


Multiple Choice Single Answer
Question A communication media is said to rich when which of the
given parameters are satisfied?
Correct Answer It facilitates rapid feedback
Your Answer It facilitates rapid feedback


Multiple Choice Single Answer
Question Anand is the new CEO of ABC Ltd. Whatever suggestions or
recommendations are given by his subordinate managers, all are rejected by
Anand. What sort of role is being portrayed by Anand?
Correct Answer Negativist
Your Answer Negativist


Select The Blank
Question The communication process can be improved by ________.
Correct Answer Reducing status barriers
Your Answer Reducing status barriers


Select The Blank
Question ________ is caused because of the modern life and anxiety to
cope with them.
Correct Answer Distress
Your Answer Distress


Multiple Choice Multiple Answer
Question According to Likert, few variables characterize the
leadership style. Select these variables.
Correct Answer Casual , Intervening , End-result
Your Answer Casual , Intervening , End-result


True/False
Question Effective communication can be seen as the foundation of
modern organizations.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Select the needs which are discussed by the need hierarch
theory.
Correct Answer Physiological needs , Security needs , Self
realization needs
Your Answer Physiological needs , Security needs , Self realization
needs


Multiple Choice Single Answer
Question Contribution of Walter Dill Scot towards industrial
psychology is:
Correct Answer He showed how psychology can be applied to
advertising and selling.
Your Answer He showed how psychology can be applied to advertising and
selling.


Multiple Choice Single Answer
Question In the discipline Organizational Behaviour the fundamental
concept is:
Correct Answer Based on the nature of people and organization
Your Answer Based on the nature of people and organization


Select The Blank
Question The communication between managers and workers located in
different functional divisions is known as ________ communication.
Correct Answer Diagonal
Your Answer Diagonal

Read more »

Posted in: Organizational Behaviour (SET VI)

Organizational Behaviour - 18

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Multiple Choice Multiple Answer
Question The cost of tensions and worries created by wrong kind of
personalities are enormous in terms of.
Correct Answer Employee-employer relation. , Supervisor-subordinate
relation. , Peers relations.
Your Answer Employee-employer relation. , Supervisor-subordinate
relation.


Multiple Choice Multiple Answer
Question Commanlities and differences suggest in certain respects,
every person is like
Correct Answer All other people , Some other people , No other
person
Your Answer All other people , Some other people , No other person


Multiple Choice Multiple Answer
Question Major determinants of personality
Correct Answer Biological , Situation
Your Answer Biological , Cultural , Situation


Multiple Choice Multiple Answer
Question Identify the process influence personality development.
Correct Answer Socialization process , Identification process
Your Answer Socialization process , Identification process


Multiple Choice Single Answer
Question 'I' refers to the personal self and 'me' refers to the
social self in the theory of
Correct Answer Roger
Your Answer Roger


Multiple Choice Single Answer
Question Fundamental force motivating the human organism is
Correct Answer Self actualization
Your Answer Fulfillment of basic need


Multiple Choice Multiple Answer
Question Indicate the developmental stages that the teams are
required to go through.
Correct Answer Forming , Storming , Norming
Your Answer Forming , Storming , Norming


Multiple Choice Multiple Answer
Question The storming stage relating to development of a team is
characterised by which of the following aspects?
Correct Answer Emergence of conflicts , Seeking task related
guidance from the leader , Deciding the responsibilities of each team member

Your Answer Understanding the team goals , Seeking task related guidance
from the leader , Deciding the responsibilities of each team member


Multiple Choice Multiple Answer
Question The features of team empowerment are as follows:
Correct Answer Potency , Autonomy , Impact
Your Answer Potency , Autonomy , Impact


Select The Blank
Question The ________ teams are concerned with rotating tasks and
assignments amongst its members.
Correct Answer Self-managed
Your Answer Cross-functional


True/False
Question The self-managed teams usually consist of employees whose
work is related to manufacturing an entire product.
Correct Answer True
Your Answer False


True/False
Question Norms are often more liberally defined.
Correct Answer False
Your Answer True


Multiple Choice Multiple Answer
Question Identify the situations which reflect upward communication.
Correct Answer Performance reports of workers, to be reviewed by
the supervisor , Suggestion boxes kept in the worker's canteen , Employee
attitude surveys
Your Answer Performance reports of workers, to be reviewed by the
supervisor , Suggestion boxes kept in the worker's canteen , Employee
attitude surveys


Multiple Choice Multiple Answer
Question Identify the steps involved in achieving improvement in
communication within the organization.
Correct Answer Simple messages , Use of multiple channels ,
Promoting inter-group communication
Your Answer Simple messages , Use of multiple channels , Promoting
inter-group communication


Multiple Choice Single Answer
Question Face-to-face conversation is often regarded as the richest
communication media, because:
Correct Answer Handles multiple cues simultaneously
Your Answer It encourages people to communicate


True/False
Question The more successful the organization is, the less effective
is its internal communication.
Correct Answer False
Your Answer False


True/False
Question Research has found that all communication channels are equal
in their capacity to convey information.
Correct Answer False
Your Answer False


Select The Blank
Question A non-specific response of the body to a situation is known
as ________.
Correct Answer Stress
Your Answer Perception


Select The Blank
Question The concept of organizational stress was first evolved in
the classic work of ________.
Correct Answer Kahn et al
Your Answer James Carter


Select The Blank
Question Decrease in productivity and increase in interpersonal
conflicts are some of the ________ symptoms of stress.
Correct Answer Behavioral
Your Answer Behavioral


Select The Blank
Question It is observed that ________has an adverse impact on
executive efficiency in the organizations.
Correct Answer Distress
Your Answer Distress


Select The Blank
Question Sidha Samadhi Yog is one of the modern therapies of
________.
Correct Answer Meditation
Your Answer Perception


True/False
Question Eustress is very harmful to the person suffering from it.
Correct Answer False
Your Answer True


Select The Blank
Question The ________ studies were the first to emphasize the
importance of task and human dimensions in assessing leadership.
Correct Answer Ohio State
Your Answer Ohio State


Match The Following
Question Correct Answer Your Answer

Katz and Kahn Advocated varied meanings of leadership Advocated varied
meanings of leadership

Keith Davis Defined leadership as human factor that binds people
together Series of motivation and leadership studies

Ronald Lippitt and Ralph K. Series of pioneering leadership studies
Series of pioneering leadership studies

Kurt Lewin Father of group dynamics Defined leadership as human
factor that binds people together

Select The Blank
Question Organizational Behaviour studies human behavior as well as
group________.
Correct Answer dynamics
Your Answer dynamics


Multiple Choice Multiple Answer
Question The results of bank wiring room study done under the
Hawthorne experiments were:
Correct Answer Small group of people emerge as a team , The group
is indifferent towards financial incentives , The group norms are more
important for the members
Your Answer Small group of people emerge as a team , The group is
indifferent towards financial incentives , The group norms are more
important for the members


Multiple Choice Multiple Answer
Question The major contributors to the development of Organizational
Behaviour are:
Correct Answer Industrial psychology , Scientific management
movement , Human relations movement
Your Answer Industrial psychology , Human relations movement


Multiple Choice Multiple Answer
Question The blue print of human behaviour at work is represented by
Correct Answer Rules , Regulations , Procedures
Your Answer Status


Multiple Choice Single Answer
Question The great depression contributed to the rise of:
Correct Answer Human relations movement
Your Answer Trade unionism


True/False
Question Fred Luthans is known as the father of "Scientific
Management".
Correct Answer False
Your Answer True


Match The Following
Question Correct Answer Your Answer

Scientific Management movement Wage payment plans Wage payment plans

Hawthorne Experiments Human relations Human relations

Hugo Munsteberg Psychology and industrial efficiency Psychology and
industrial efficiency

Wagner Act Labour movement Labour movement

Multiple Choice Multiple Answer
Question The four different models of organizational behaviour
denote:
Correct Answer The responses of the employees to the various
orientations of the managers , The general behavioural climate prevailing in
the manager-employee relationship , The evolution of the thinking and
behaviour of the management and the managers alike
Your Answer The general behavioural climate prevailing in the
manager-employee relationship , The evolution of the thinking and behaviour
of the management and the managers alike , The many roles that employees
perform have affect on the behaviours of each other


Multiple Choice Multiple Answer
Question In which organization models, managers did not bother to
create an atmosphere which was conducive to the development of the
employees?
Correct Answer Autocratic , Custodial
Your Answer Autocratic


Multiple Choice Multiple Answer
Question Select the needs which are discussed by the need hierarch
theory.
Correct Answer Physiological needs , Security needs , Self
realization needs
Your Answer Physiological needs , Security needs , Self realization
needs


Select The Blank
Question The ________ job loading is also known as job enlargement.
Correct Answer Horizontal
Your Answer Vertical


Multiple Choice Single Answer
Question Which of the given factors are also known as dissatisfiers?
Correct Answer Hygiene factors
Your Answer Social factors


Multiple Choice Single Answer
Question What is the other name for vertical job loading?
Correct Answer Job enrichment
Your Answer Job enrichment


Multiple Choice Single Answer
Question State the drawback of Vroom's theory.
Correct Answer Does not provide specific solution to the
motivational problems
Your Answer Does not provide specific solution to the motivational
problems


Multiple Choice Single Answer
Question Which theory assumes that the manager's role is to coerce
and control employees?
Correct Answer Theory X
Your Answer Theory X


True/False
Question While physiological need have a reference to the future, the
safety needs take care of the present.
Correct Answer False
Your Answer True


True/False
Question The social needs are so strong that even the cruelest
criminals dread the punishment of solitary confinement.
Correct Answer True
Your Answer True


True/False
Question According to Herzberg's factor, hygiene factor for one
employee is the hygiene factor for all the employees within the
organization.
Correct Answer False
Your Answer True


Select The Blank
Question Organizational________represents a complex pattern of
beliefs, expectations, ideas, values and attitudes shared by the members of
the organization.
Correct Answer culture
Your Answer culture


Multiple Choice Single Answer
Question Internal integration involves addressing the issue of:
Correct Answer Determining rules related to power and status
Your Answer Determining rules related to power and status


True/False
Question Organization culture and performance is directly related.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question An important factor in implementing rest pauses lies in its-
Correct Answer placement
Your Answer placement

Read more »

Posted in: Organizational Behaviour (SET VI)

Materials Management - 13

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


True/False
Question Small parcels, Samples, gifts which are received from other
countries provisions of import policy & customs not applied on them.
Correct Answer False
Your Answer False


Match The Following
Question Correct Answer Your Answer

Delivery time As specified in contract Warranties

Essential stipulations Conditions As per agreement

Collateral stipulations Warranties As specified in contract

Caveat emptor Fundamental principle of sale of goods Sale of goods act
option

Multiple Choice Single Answer
Question For the inspection of special Cutting tools which department
is responsible?
Correct Answer Planning department & inspection department
Your Answer Planning department & inspection department


True/False
Question Black listing may be for a limited period or for an
indefinite period.
Correct Answer True
Your Answer False


Select The Blank
Question Two-bin system supersedes ________.
Correct Answer Perpetual inventory
Your Answer Perpetual inventory


Multiple Choice Multiple Answer
Question Stores functions include :-
Correct Answer Receiving and issuing of materials , Keeping the
record , Taking precautions to avoid pilferage, theft
Your Answer Receiving and issuing of materials , Keeping the record ,
Taking precautions to avoid pilferage, theft


Multiple Choice Multiple Answer
Question Analysis of certification correctness of material is
required for :-
Correct Answer Bar stock , Castings
Your Answer High risk materials , Liquids


Select The Blank
Question ________ is followed in public sector organizations to
identify the lowest potential bidder.
Correct Answer Tender system
Your Answer Tender system


Select The Blank
Question Set-up cost for manufactured item in own plant is ________.
Correct Answer Very high
Your Answer Very less


Select The Blank
Question The ________ is raised by the receiving stores in receipt of
materials and after physical verification of the quantity and quality.
Correct Answer Goods Receipt Report
Your Answer Goods Receipt Report


True/False
Question Metals should be stored at least 15-20 cm above the ground.
Correct Answer True
Your Answer True


True/False
Question JIT purchasing is indirectly the activity of pushing
inventory on the suppliers.
Correct Answer True
Your Answer False


Multiple Choice Single Answer
Question Annual total cost is :-
Correct Answer Annual Material Cost + Annual Procurement Cost +
Annual ICC
Your Answer Annual Material Cost + Annual Procurement Cost + Annual ICC


True/False
Question No restrictions are on rail transport.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Advantages of forward buying are :-
Correct Answer Greater margin of profit on finished goods , Saving
in procurement expenses as purchases are usually consolidated. , Security
against shortages
Your Answer Greater margin of profit on finished goods , Saving in
procurement expenses as purchases are usually consolidated. , Security
against shortages


Multiple Choice Single Answer
Question The purchase of variety of items from single source is
called as :-
Correct Answer Blanket orders
Your Answer Blanket orders


True/False
Question Inventory control technique is suited for low value indirect
materials which are economical to procure them in certain pre fixed
quantities.
Correct Answer True
Your Answer False


Multiple Choice Single Answer
Question Contracts of A & B class items should have :-
Correct Answer Value engineering
Your Answer Value analysis


True/False
Question Reorder quantity in fixed order interval system equal
economic order quantity.
Correct Answer False
Your Answer True


Select The Blank
Question Indian railways carry almost ________ goods & passenger
traffic.
Correct Answer 0.75
Your Answer 0.75


Select The Blank
Question The purchasing of Weigh bridge is________
Correct Answer Capital purchasing
Your Answer Import purchasing


Multiple Choice Multiple Answer
Question Techniques of Simplification :-
Correct Answer Preferred numbers , Frequency analysis ,
Rationalized codification
Your Answer Classification , Frequency analysis , Rationalized
codification


Multiple Choice Multiple Answer
Question Correct issues must have :-
Correct Answer Written requisitions , Authorized requisitions
Your Answer Written requisitions , Authorized requisitions


Multiple Choice Multiple Answer
Question Rejection percentage to be allowed to the vendor depends on
the :-
Correct Answer Configuration of component , Number of operations
involved , Tolerances and surface finishes
Your Answer Number of operations involved , Tolerances and surface
finishes , Process


Select The Blank
Question One of the major pipe-line in India is ________.
Correct Answer Ankaleshwar - Baroda
Your Answer Barauni - Bajwa


Select The Blank
Question GRR are sent from ________.
Correct Answer Stores Dept.
Your Answer Stores Dept.


Multiple Choice Multiple Answer
Question Continuous Stock-taking is effective due to :-
Correct Answer Planned/scheduled activity , Discrepancies are
noticed & corrected in short spell
Your Answer Planned/scheduled activity , Discrepancies are noticed &
corrected in short spell , Eliminates material losses


Multiple Choice Single Answer
Question Limited competition is associated with higher price while
wider competition enables buying at competitive rates is known as :-
Correct Answer Extent of competition
Your Answer Demand and supply condition


Select The Blank
Question ________ is an addition of unnecessary cost to product
Correct Answer Poor design
Your Answer Poor design


Multiple Choice Multiple Answer
Question The alpha numerical system operates as under :-
Correct Answer Each item is identified and is given a proper
description. , Identical items are classified into groups and each group is
provided a suitable heading. , Codes are assigned to the next group, which
are usually the alphabets.
Your Answer Each item is identified and is given a proper description. ,
Identical items are classified into groups and each group is provided a
suitable heading. , Codes are assigned to the next group, which are usually
the alphabets.


Multiple Choice Single Answer
Question How much saving in material cost can give benefit equivalent
to eight to nine % rise in sales volume?
Correct Answer 0.01
Your Answer 0.01


Multiple Choice Single Answer
Question The purchasing made under contract , usually formal, of
needed materials, the delivery of which is frequently spread over a period
of time is known as :-
Correct Answer Contract buying
Your Answer Contract buying


Multiple Choice Single Answer
Question Which type of tendering is adopted when the requirements are
urgent?
Correct Answer Limited tender
Your Answer Limited tender


True/False
Question Continuous stock-taking tends to dislocate the working of
store.
Correct Answer False
Your Answer False


True/False
Question PO gives full and complete details of the materials to be
supplied thereby avoiding ambiguities.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question External lead time is :-
Correct Answer Supplier's lead time
Your Answer Supplier's lead time


Match The Following
Question Correct Answer Your Answer

Supplies Abrasive materials Chemicals

Perishable materials Vegetables Vegetables

Packing materials Carton Carton

Empties Metal containers Metal containers

Multiple Choice Multiple Answer
Question Primary duties to be performed by purchase department are :-
Correct Answer Receipts, sorting of purchase indents and
determination of method of buying , Performance evaluation and feedback ,
Search for suppliers
Your Answer Receipts, sorting of purchase indents and determination of
method of buying , Performance evaluation and feedback , Search for
suppliers


Multiple Choice Multiple Answer
Question In F.O.R. contract seller is responsible for :-
Correct Answer Arranging for movement of goods to the transporter's
godown , Safe loading on into the vehicle , Keeping the material in
deliverable state
Your Answer Arranging for movement of goods to the transporter's godown
, Safe loading on into the vehicle , Keeping the material in deliverable
state


Multiple Choice Single Answer
Question Primary function means :-
Correct Answer Basics required to make product worth
Your Answer Basics required to make product worth


Multiple Choice Single Answer
Question Who act as a link between company's financial department and
supplier's for timely payment?
Correct Answer Purchase division
Your Answer Purchase division


Select The Blank
Question Review system-optional replenishment is a modification of
________.
Correct Answer Fixed-order interval system
Your Answer Fixed-order interval system


Multiple Choice Single Answer
Question Value analysis job plan contains :-
Correct Answer 9 steps
Your Answer 9 steps


Multiple Choice Multiple Answer
Question Functions of Traffic division :-
Correct Answer Tracing missing consignments , Selecting the right
kind of shipping service , Scrutinizing freight bills for payment.
Your Answer Selecting the right kind of shipping service , Scrutinizing
freight bills for payment.


Select The Blank
Question ________Inspects the goods & issues a surveyor report
certificate.
Correct Answer Surveyor
Your Answer Surveyor


Multiple Choice Multiple Answer
Question Objectives of material research are :-
Correct Answer To improve capability of purchase department to
visualize problems which may be encountered in future. , To make optimum
utilization of available resources , To provide the enterprise a competitive
edge.
Your Answer To improve capability of purchase department to visualize
problems which may be encountered in future. , To make optimum utilization
of available resources , To provide the enterprise a competitive edge.


True/False
Question Two bin system is better as compared to perpetual inventory
system.
Correct Answer False
Your Answer True

Read more »

Posted in: Materials Management(Set-4)

Materials Management - 12

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
 

 
 True/False
  Question  
Bulky items impervious to weather is kept at very safe place inside store.
  Correct Answer  
False
  Your Answer  
False

 
 Select The Blank
  Question  
Petroleum product imports are channealised through________.
  Correct Answer  
Indian oil corporation
  Your Answer  
Indian oil corporation

 
 Multiple Choice Single Answer
  Question  
Procurement by more than one firm by pooling their requirements is :-
  Correct Answer  
Cooperative buying
  Your Answer  
Cooperative buying

 
 Multiple Choice Single Answer
  Question  
For the inspection of special Cutting tools which department is responsible?
  Correct Answer  
Planning department & inspection department
  Your Answer  
Maintenance department

 
 Match The Following
Question
Correct Answer
Your Answer

Vendor rating
Right source
Right source

Replenishment method
Right time
Right time

Competitive bidding
Right price
Right price

EOQ
Right quantity
Right quantity

 
 Multiple Choice Single Answer
  Question  
The cost incurred in providing adequate insurance cover to the materials in
transit and in storage is
  Correct Answer  
Insurance cost
  Your Answer  
Insurance cost

 
 Multiple Choice Multiple Answer
  Question  
Import transactions are subject to following additional laws compared to
procurement from sources within the country as :-
  Correct Answer  
Import trade control act ®ulation , Custom act , Central excise Rules 2002
  Your Answer  
Import trade control act ®ulation , Custom act , Trade policy act 2000

 
 True/False
  Question  
Projects are usually subjected to uncertainty & often delay takes place in
completion of projects which results in cost over runs.
  Correct Answer  
True
  Your Answer  
True

 
 True/False
  Question  
Contract whose object is not lawful are not void.
  Correct Answer  
False
  Your Answer  
False

 
 True/False
  Question  
Shortage chasing is intended to remind the supplier of the due date and
obtain advance information of expected delays.
  Correct Answer  
False
  Your Answer  
False

 
 Multiple Choice Multiple Answer
  Question  
Optimal purchase quantity comprises :-
  Correct Answer  
Annual inventory carrying cost , Annual procurement cost
  Your Answer  
Annual inventory carrying cost , Annual procurement cost , Set-up cost

 
 Multiple Choice Multiple Answer
  Question  
Steel almirahs are used for storage of :-
  Correct Answer  
Expensive items , Scarce items
  Your Answer  
Expensive items , Scarce items , High risk materials

 
 Multiple Choice Multiple Answer
  Question  
Some of the benefits if materials are supplied by the buyer are :-
  Correct Answer  
The supplies of goods are guaranteed especially during the periods of
shortages. , The frequent requests for the price revisions are avoided , The
buyer is sure of the quality of materials.
  Your Answer  
The buyer is sure of the quality of materials. , The frequent requests for
the price revisions are avoided , The unnecessary profit on materials are
added by the suppliers.

 
 Multiple Choice Multiple Answer
  Question  
The buyers are asked to adopt the following method for follow up :-
  Correct Answer  
Telephone , Letters , E-mail, telegram
  Your Answer  
Telephone , Letters , E-mail, telegram

 
 True/False
  Question  
Stores is the "Safe Custody" for keeping materials
  Correct Answer  
True
  Your Answer  
True

 
 Multiple Choice Single Answer
  Question  
Prices of certain commodity may be fixed by the government and thereby
putting a restriction on both buyer and seller is :-
  Correct Answer  
Government restrictions
  Your Answer  
Government restrictions

 
 Multiple Choice Multiple Answer
  Question  
A contract terminates under following condition :-
  Correct Answer  
Discharge by performance , Discharge by Release , Discharge by novation
  Your Answer  
Discharge by performance , Discharge by Release , Discharge by novation

 
 Select The Blank
  Question  
________ is followed in public sector organizations to identify the lowest
potential bidder.
  Correct Answer  
Tender system
  Your Answer  
Tender system

 
 True/False
  Question  
The performance of an equipment can not be verified on the spot if the
equipment is not in operation.
  Correct Answer  
False
  Your Answer  
True

 
 Match The Following
Question
Correct Answer
Your Answer

Speculative buying
Bulk purchasing
Non perishable items

Capital purchasing
Plant and machinery
Plant and machinery

Group purchasing
Hardware materials
Bulk purchasing

Service contract
Typewriters
Hardware materials

 
 True/False
  Question  
Metals should be stored at least 15-20 cm above the ground.
  Correct Answer  
True
  Your Answer  
True

 
 Multiple Choice Multiple Answer
  Question  
Costs involved in materials management are
  Correct Answer  
Basic cost of materials , Government tax and levies , Ordering cost
  Your Answer  
Basic cost of materials , Ordering cost , Overhead

 
 Select The Blank
  Question  
________ of the department refers to the placement of the department in the
structure of the company.
  Correct Answer  
Status
  Your Answer  
Location

 
 True/False
  Question  
Value analysis is the cost reduction technique.
  Correct Answer  
True
  Your Answer  
True

 
 Multiple Choice Multiple Answer
  Question  
For large engineering firms main store could be sub divided into :-
  Correct Answer  
Finished part store , Raw material store , Semi finished item store
  Your Answer  
Raw material store , Semi finished item store , Finished part store

 
 Multiple Choice Single Answer
  Question  
In project procurement what work is covered in detailed engineering stage?
  Correct Answer  
Cross verification of technical specifications & finalisation of commercial
terms
  Your Answer  
Cross verification of technical specifications & finalisation of commercial
terms

 
 Select The Blank
  Question  
Sub contracting decisions must be based on outcome of ________ analysis.
  Correct Answer  
Cost benefit
  Your Answer  
Cost benefit

 
 Multiple Choice Multiple Answer
  Question  
Disadvantages of forward buying are :-
  Correct Answer  
Such a buying may not serve entirely the needs of the production department
, Price expectations if not realised may result in major financial loss to
the firm. , Large scale obsolescence may result if design changes occur.
  Your Answer  
Price expectations if not realised may result in major financial loss to the
firm. , Large scale obsolescence may result if design changes occur.

 
 Multiple Choice Single Answer
  Question  
Who act as a link between company's financial department and supplier's for
timely payment?
  Correct Answer  
Purchase division
  Your Answer  
Purchase division

 
 Multiple Choice Single Answer
  Question  
What is the meaning of stores layout?
  Correct Answer  
Physical arrangement of space for storage material movement, office etc
which should provide for most efficient receipt storage & issue of material
  Your Answer  
Physical arrangement of space for storage material movement, office etc
which should provide for most efficient receipt storage & issue of material

 
 True/False
  Question  
If item is manufactured in small quantities, set-up cost is high.
  Correct Answer  
True
  Your Answer  
True

 
 Select The Blank
  Question  
________is suitable for procurement from non-profit making organization.
  Correct Answer  
Cost plus zero fee
  Your Answer  
Fixed price agreements with escalation.

 
 Select The Blank
  Question  
________ reduce problems of material planning.
  Correct Answer  
Reduction in lead time
  Your Answer  
Reduction in lead time

 
 Multiple Choice Single Answer
  Question  
JIT aims at :-
  Correct Answer  
Reduction in non-value added activities
  Your Answer  
Reduction in non-value added activities

 
 Multiple Choice Multiple Answer
  Question  
Complaints concerning should be made in such a way that negative reactions
are avoided such as :-
  Correct Answer  
Delivery failures , Rejection , Shortages
  Your Answer  
Delivery failures , Rejection , Shortages

 
 Multiple Choice Single Answer
  Question  
Internal factor influencing materials planning:-
  Correct Answer  
Procurement lead times
  Your Answer  
Procurement lead times

 
 Multiple Choice Single Answer
  Question  
The cost incurred in movement of materials from suppliers works to buyer's
works is
  Correct Answer  
Freight cost
  Your Answer  
Freight cost

 
 True/False
  Question  
Supplier's delivery ratings should be communicated on periodical basis.
  Correct Answer  
True
  Your Answer  
True

 
 Select The Blank
  Question  
When the costs are balanced, total cost is ________.
  Correct Answer  
Minimum
  Your Answer  
Fixed

 
 Multiple Choice Single Answer
  Question  
The process of procurement of raw material, wip, finished goods, jigs,
fixtures and other tools and equipments which are required for the operation
and maintenance of a manufacturing plant is known as
  Correct Answer  
Purchasing
  Your Answer  
Store keeping

 
 Multiple Choice Single Answer
  Question  
Mechanical tests are performed to :-
  Correct Answer  
Ascertain the strength of materials
  Your Answer  
Ascertain the strength of materials

 
 Multiple Choice Single Answer
  Question  
Set-up cost means :-
  Correct Answer  
Cost incurred to replenish the stock of item manufactured at home plant
  Your Answer  
Cost incurred to replenish the stock of item manufactured at home plant

 
 Multiple Choice Single Answer
  Question  
The main responsibility of inventory control division is :-
  Correct Answer  
Fixing inventory levels
  Your Answer  
Fixing inventory levels

 
 Multiple Choice Multiple Answer
  Question  
Special stores are created where :-
  Correct Answer  
Material need to be held under the control of the bank , Material need to be
held for perishable items , Material need to be held for explosive &
inflammable items
  Your Answer  
Material need to be held under the control of the bank , Material need to be
held for perishable items , Material need to be held for explosive &
inflammable items

 
 Select The Blank
  Question  
________ is a fundamental form of economical value.
  Correct Answer  
Esteem value
  Your Answer  
Cost value

 
 Select The Blank
  Question  
Discrepancies arising out of theft are tends to ________.
  Correct Answer  
Profit & Loss a/c
  Your Answer  
Profit & Loss a/c

 
 Multiple Choice Single Answer
  Question  
What is Earnest money?
  Correct Answer  
Fixed amount collected along with Tender
  Your Answer  
Fixed amount collected along with Tender

Read more »

Posted in: Materials Management(Set-4)

Materials Management - 11

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


True/False
Question EOQ model is based on the assumption that unit price is
fixed.
Correct Answer True
Your Answer False


Multiple Choice Multiple Answer
Question Obsolescence cost is :-
Correct Answer Due stock on hand , Part No. / Name
Your Answer Due stock on hand , Part No. / Name


Multiple Choice Multiple Answer
Question Set-up cost comprises of :-
Correct Answer Work-order cost , Idle time cost
Your Answer Work-order cost , Idle time cost


Multiple Choice Single Answer
Question Quantity discounts reduces :-
Correct Answer Procurement cost
Your Answer Material cost


Multiple Choice Single Answer
Question The document which is prepared by the engineering department
is :-
Correct Answer Bill of material
Your Answer Bill of material


Multiple Choice Single Answer
Question Which of the following is not the external factor
influencing materials planning?
Correct Answer Corporate objective
Your Answer Corporate objective


Select The Blank
Question Down time means ________.
Correct Answer Time required by equipment to become OK
Your Answer Time required by equipment to become OK


Multiple Choice Single Answer
Question Security deposit means :-
Correct Answer Amount as reserve-part kept by scrap contractor for
final adjustment
Your Answer Amount paid by contractor to company


Multiple Choice Single Answer
Question Identifying technical, financial, managerial and quality
assurance capability of the vendors and thereby generate data to serve basis
for preliminary source selection is :-
Correct Answer Source investigation stage
Your Answer Source investigation stage


Select The Blank
Question ________specification are usually flexible and can be
altered during consultation with different manufacturers of the equipment.
Correct Answer Equipment
Your Answer Technical


Multiple Choice Single Answer
Question Issues to top up supply to pre-fixed levels of items are :-
Correct Answer Imprest issues
Your Answer Imprest issues


Multiple Choice Multiple Answer
Question Requests for price increase are received on account of the
following reasons :-
Correct Answer Increase in cost of raw materials and boughtout
parts , Changes in tax structure , Added work content
Your Answer Increase in cost of raw materials and boughtout parts ,
Changes in tax structure , Added work content


Select The Blank
Question Stock held by company represents ________.
Correct Answer Money
Your Answer Money


Select The Blank
Question Method suitable for items which are either of purely
seasonal is ________.
Correct Answer Seasonal buying
Your Answer Seasonal buying


Multiple Choice Single Answer
Question The buying which is received in staggered lots, each lot at
times may equal EOQ is :-
Correct Answer Contract buying
Your Answer Schedule buying


Multiple Choice Multiple Answer
Question Special advance license for deemed export is granted in
following cases :-
Correct Answer Supply of goods against advance license /Remission
scheme , Supply of goods to export oriented units , Supply of capital goods
to holders of licenses under EPCG Scheme
Your Answer Supply of goods against advance license /Remission scheme ,
Supply of goods to export oriented units , Supply of capital goods to
holders of licenses under EPCG Scheme


True/False
Question Supplier's request for price increase should be analysed
patiently by the buyer. A curt 'no' or 'negative' reply spoils
relationships.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Actions involved in sample validation are :-
Correct Answer Follow up with the supplier until sample submission
, Sample inspection , Feedback on defects and defect prevention
Your Answer Sample inspection , Feedback on defects and defect
prevention


Multiple Choice Multiple Answer
Question Special stores are created where :-
Correct Answer Material need to be held under the control of the
bank , Material need to be held for perishable items , Material need to be
held for explosive & inflammable items
Your Answer Material need to be held for explosive & inflammable items ,
Material need to be held for costly items


Select The Blank
Question ________ is suitable for procurement of prototypes,
fixtures, development items.
Correct Answer Cost plus percentage of cost.
Your Answer Fixed price agreements


Select The Blank
Question In instantaneous replenishment system, production rate is
________ .
Correct Answer Infinite
Your Answer Constant


Multiple Choice Single Answer
Question Organization decided to import when :-
Correct Answer Item is not available in the country
Your Answer Item is very critical functioning


Multiple Choice Single Answer
Question Operating systems process data for :-
Correct Answer Routine operations of the depts.
Your Answer Routine operations of the depts.


Select The Blank
Question In MRP-1, manufacturing cycle of finished product is
________.
Correct Answer Long
Your Answer Short


Match The Following
Question Correct Answer Your Answer

JIT Highly vulnerable to supply failures Purchasing time

TPM Removal of uncertainty Highly vulnerable to supply failures

Quality at source Elimination of incoming inspection Elimination
of incoming inspection

Lower unit cost JIT Quantity of production

True/False
Question Materials department is service department.
Correct Answer True
Your Answer False


Select The Blank
Question Malpractices are ________.
Correct Answer Manipulations by stores staff
Your Answer Manipulations by stores staff


True/False
Question Value analysis is necessary when company's profits soars.
Correct Answer False
Your Answer False


Match The Following
Question Correct Answer Your Answer

Fast moving items Very near to the issue counter Very near to the
issue counter

Antibiotics In a air conditioned store In a air conditioned store

Costly items like fuel injector In locked cupboard & away from entrance of
store. In locked cupboard & away from entrance of store.

Inflammable & hazardous items In a separate store In a separate store

Multiple Choice Multiple Answer
Question Discolourisation of soaps is due to :-
Correct Answer Exposure to light , Moisture
Your Answer Exposure to light , Moisture


Multiple Choice Multiple Answer
Question Following are benefits of scientific stoke management :-
Correct Answer Reduction in downtime by efficient issues ,
Inventory control , Very less time required to identify & issue material
Your Answer Reduction in downtime by efficient issues , Very less time
required to identify & issue material


Multiple Choice Multiple Answer
Question Following special schemes are announced by Indian Government
under which import can be permitted at zero duty or at less duty :-
Correct Answer Export promotion capital goods scheme , Diamond
&Jewellary promotion scheme , Import by 100% export oriented units
Your Answer Export promotion capital goods scheme , Import by 100%
export oriented units


True/False
Question Post parcel consignments are cleared through customs &
clearance is done through foreign post office.
Correct Answer True
Your Answer False


True/False
Question Number of free days allowed for air consignments is 15 days
from the flight date.
Correct Answer False
Your Answer False


True/False
Question The trade discount is not allowed as a percentage of
published price.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question Receiving inspector should have to :-
Correct Answer Segregate defectives , Maintain vendor wise quality
records
Your Answer Segregate defectives , Maintain vendor wise quality records


Multiple Choice Single Answer
Question Supplier may be asked to provide assistance for the first
few days of working so that production losses can be avoided is known as :-
Correct Answer Spare part and supply contracts
Your Answer Seller's technical assistance during start up.


Select The Blank
Question All incoming materials are insured against ________
Correct Answer Damage / loss
Your Answer Damage / loss


True/False
Question Make or buy decision are of common concern to both materials
and production department.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question Inflammable storage areas should be :-
Correct Answer Well insulated
Your Answer Well insulated


Multiple Choice Multiple Answer
Question The sub system of numerical system involves following :-
Correct Answer Sequential code , Decimal code , Block code system
Your Answer Sequential code , Decimal code , Block code system


Multiple Choice Single Answer
Question Stock-out is due to :-
Correct Answer Delay in deliveries
Your Answer Delay in deliveries


Select The Blank
Question ________is reimbursement of actual costs plus fixed fee.
Correct Answer Cost plus fixed fee
Your Answer Cost plus fixed fee


Select The Blank
Question ________ is essence of purchase order.
Correct Answer Delivery
Your Answer Delivery


Multiple Choice Multiple Answer
Question Performance of product requires :-
Correct Answer Functionality , Reliability
Your Answer Functionality , Reliability


True/False
Question Ex-works means sale is made on rail/truck at the station of
dispatch.
Correct Answer False
Your Answer False


True/False
Question The trade discount is not allowed as a percentage of
published price.
Correct Answer False
Your Answer False

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Posted in: Materials Management(Set-4)