22509:Industrial Organization and Management IOM - MCQs
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CHAP 01: Overview of Business
1. Types of Business ____
a) Services
b) Manufacturing
c) Trade
d) All of above
Ans.: (d)
2. Service enterprise provides the
services that are called as _____
a) Intangible Goods
b) Manufacturing
c) All of above
d) None of above
Ans.: (a)
3. Trading enterprises may be found
operating in the form of _____
a) Wholesale
b) Investment trusts
c) (a) and (b)
d) None of above
Ans.: (c)
4. Industrial sector involves _____
a) Construction
b) Fisheries
c) Textile
d) All of above
Ans.: (d)
5. Engineering industrial sectors not involves
____
a) Civil
b) Mechanical
c) Chemical
d) Filament yard
Ans.: (d)
6. Textile industrial sectors involves
a) Petrochemical
b) Sericulture
c) Tabacco
d) Seeds
Ans.: (b)
7. Top agro industry in India is ____
a) Fabindia
b) Pidilite
c) DuPont India
d) None of above
Ans.: (c)
8. It sectors Involves ____
a) ITES
b) Telecommunication
c) (a) and (b)
d) None of above
Ans.: (c)
9. ITES stands for ____
a) IT Enabled Services
b) IT Enterprise Services
c) IT Enabled System
d) Industry Telecomm Enabled Services
Ans.: (a)
10. BPO Stands for _____
a) Business Procedure Outsourcing
b) Business Process Outsourcing
c) Business Process Organization
d) Business Procedure Organization
Ans.: (b)
11. KPO stands for _____
a) Knowledge Procedure Outsourcing
b) Knowledge process Outsourcing
c) Knowledge Process Organization
d) None of above
Ans.: (b)
12. LIPO stands for _____
a) Legal Process Outsourcing
b) Limited Process Outsourcing
c) Limited Procedure Outsourcing
d) Last Procedure Outsourcing
Ans.: (a)
13. RPO stand for _____
a) Research Procedure Outsourcing
b) Read Process Outsourcing
c) Research Process outsourcing
d) None of above
Ans.: (c)
14. _____ is backbone of Indian economy
a) IT
b) Textile
c) Banking
d) (a) and (c)
Ans.: (c)
15. Indian central bank is _____
a) Shamrao vital Co-operative Bank (SVC)
b) State Bank Of India (SBI)
c) Central Bank of India (CBI)
d) Reserve Bank of India (RBI)
Ans.: (d)
16. Insurance company categories _____
a) Life insurance
b) General Insurance
c) All of above
d) None of above
Ans.: (c)
17. Major functions of insurance company
_____
a) To provide certainty
b) To provide protection
c) Share risk
d) All of above
Ans.: (d)
18. FTA Stands for _____
a) Financial Transfer Arrival
b) Foreign Transfer Arrival
c) Foreign Tourist Arrival
d) Foreign Tourist Arrangement
Ans.: (c)
19. Hospitality industry categories
_____
a) Food and beverages
b) Accommodations
c) Travel and tourism
d) All of above
Ans.: (d)
20. ITDC stands for _____
a) Indian Tourist development
corporation
b) Indian Tourism Development
Corporation
c) Indian Tourism Development
Co-Operative
d) Indian Tourism Data Corporation
Ans.: (b)
21. India is awarded certification of
_____ free country
a) Cancer
b) Polio
c) Swine flu
d) AIDS
Ans.: (b)
22. India is awarded a certification
POLIO free country In _____
a) January 2011
b) January 2009
c) January 2014
d) June 2011
Ans.: (a)
23. India is awarded a certification of
POLIO free country by ____
a) Word Health Organization
b) Word Health Center
c) National Health Center
d) None of above
Ans.: (a)
24. LPG _____
a) Liberalization, privatization,
Globalization
b) Liberate, Private, Globalization
c) Liberate, Private, Global
d) None of above
Ans.: (a)
25. GATT stands for _____
a) Global Agreement on Tariffs and Teide
b) General Agreement on Tariffs and
Trade
c) General Agreement on Traffics and
Trade
d) General Agreement on Tariffs and
Trade
Ans.: (d)
26. GATT was created in _____
a) 1950
b) 1947
c) 1948
d) 1951
Ans.: (b)
27. ITO stands for ______
a) International Trance Organization
b) International Test Organization
c) Internal Trade Organization
d) International Trade Organization
Ans.: (d)
28. WTO stands for _____
a) World Trade Organization
b) World Test Organization
c) Work Test Organization
d) World Trade Organics
Ans.: (a)
29. Cipla is a _____
a) Textile industry
b) Process industry
c) Chemical Industry
d) IT industry
Ans.: (c)
30. Insurance companies are growing at
the annual compound rate of _____
a) 100%
b) 15%-20%
c) 30%
d) 30%-40%
Ans.: (b)
(OPTIONAL:
Unit 1)
1.
The
year 1991 is famous for
Ans.: c (Globalization Policy, Liberalization were accepted
by India)
2.
Following
business pattern is not coming under service industry
Ans.: d (textile mill)
3.
Service
industry is _____ sector in economy
Ans.: d (Tertiary)
4.
Annual
growth of approximate ____ % is recorded in last five years by service industry
Ans.: b (30%)
5.
Following
is the fastest growing sector in India now-a-days.
Ans.: c (Service)
6.
License
permit raj in India was in this period
Ans.: a (1965-1990)
7.
Manufacturing
sector contributes _____ % of India’s
GDP
Ans.: c (15%)
8.
_____
% of workforce in India is working in manufacturing sector
Ans.: d (12%)
9.
_____ is willing exchange of goods
Ans.: b (Trade)
10.
_____ is also called as commerce
Ans.: a (Trade)
11.
Mechanism
that allows trade is called as _____
Ans.: d (Market)
12.
Domestic
trade is also called as
Ans.: d (Internal trade)
13.
Following
is the main destination for capital inflows
Ans.: a (India)
14.
Following
is not among the top 5 countries in the list of our importers
Ans.: d (UK)
15.
All
exported and import activities are governed by
Ans.: a (Foreign Trade Policy)
16.
SEZ
means
Ans.: b (Special economic zones)
17.
Which
is the pioneering company with respect to iron and steel
Ans.: a (TISCO)
18.
_____ is the
apex authority of Government of India
Ans.: c (SAIL)
19.
In
_____ the first car was driven on the roads of India
Ans.: c (1898)
20.
India
is the largest market in the word for
Ans.: b (Three wheelers)
21.
Match
the pairs :
Ans.: c – 1-(b), 2-(c), 3-(d), 4-(a)
1. Ashok Leyland – Chennai
2. Suzuki – Gurgaon
3. Mahindra – Nashik
4. Kinetic – Pune
22.
Following
is ‘not’ the ‘challenge’ in front of automobile industry
Ans.: d (Investment)
23.
Per
capita consumption of paper in India is
Ans.: c (4 kg)
24.
Following
are the challenges in front of paper industry. Which one is wrong?
Ans.: a (Availability of labor)
25.
Per
capita consumption of cement in japan is 700kg. in India it is
Ans.: d (70 kg)
26.
Which
is not the challenge In front of cement industry?
Ans.: b (Less market size)
27.
Old
Indian textile industry was predominantly _____ based
Ans.: a (Cotton)
28.
Following
is not the strength of textile industry
Ans.: c (Import of raw material)
29.
Following
is not the textile industry.
Ans.: c (IBP)
30.
Following
is not the chemical industry
Ans.: d (Sugar)
31.
Following
is not the agro industry
Ans.: d (Paper)
32.
First
nationalisation of 14 banks happened in
Ans.: a (1969)
33.
Following
bank is working for agriculture field
Ans.: c (NABARD)
34.
Following
is not associated with insurance
Ans.: d (ICC)
35.
Which
organization is at a number one positioning in India in insurance
Ans.: c (LIC)
UNIT 02: Management Process
1.
School
of management are as follow :
a)
The
classical school
b)
The
behavior school
c)
The
quantitative or management science school
d)
All of the above
Ans.: (d)
2. _____ focuses on the ways to manage
work and organizing more efficiently
a) The classical school
b) The behavior school
c) The quantitative or management
science school
d) All of the above
Ans.: (a)
3.
The
area of classical school are :
a)
Scientific
Management
b)
Administrative
Management
c)
Bureaucratic
Management
d)
All of the Above
Ans.: (d)
4.
_____
mainly focused on the interactions and motivations of the individual within
organizations. This school studied the behavior of employees in an organization
a)
The
classical school
b)
The behavioral school
c)
The
quantitative or management science school
d)
All
of the above
Ans.: (b)
5.
The
great thought of motivating the workers or employees for better results have
come up from _____ of management.
a)
The
classical school
b)
The behavioral school
c)
The
Quantitative or management science school
d)
All
of the above
Ans.: (b)
6.
_____
school added increasing quality of managerial decision making with the help of
mathematics and statistics
a)
The
classical school
b)
The
behavioral school
c)
The quantitative or management science school
d)
All
of the above
Ans.: (c)
7.
The
main areas of quantitative or management science school are :
a)
Management
science
b)
Operations
management
c)
Management
information systems
d)
All of the above
Ans.: (d)
8.
____
proposed an idea of understanding the organization as a system that transforms
inputs into outputs while in constant interaction with its environment.
a)
The
classical school
b)
The
behavioral school
c)
The
quantitative or management science school
d)
The system school
Ans.: (d)
9.
The
center point of ____ is about applying management principles and processes as
per the unique characteristics of situation.
a)
The contingency school
b)
The
behavioral school
c)
The
quantitative or management science school
d)
The
system school
Ans.: (a)
10. ____ is an activity which defines the
steps of how and when work will be dene effectively and efficiently.
a) Planning
b) Organizing
c) Staffing
d) Controlling
Ans.: (a)
11. ____ is recruitment of right people
at right place in an organization.
a) Planning
b) Organizing
c) Staffing
d) Controlling
Ans.: (c)
12. ____ ensures that things fall within
the standards defined by an organization and should not divert from it.
a)
Planning
b)
Organizing
c)
Staffing
d)
Controlling
Ans.: (d)
13. Levels of management are :
a)
Strategical
level
b)
Tactical
level
c)
Operational
level
d)
All of the above
Ans.: (d)
14. The number of people working on lower
level are largest than ____
a)
Strategical
level
b)
Tactical level
c)
Operational
level
d)
All
of the above
Ans.: (b)
15. On ____ only few people work as
middle level managers
a) Strategical level
b) Tactical Level
c) Operational level
d) All of the above
Ans.: (b)
16. At ____ only few people are present
a)
Strategical level
b)
Tactical
level
c)
Operational
level
d)
All
of the above
Ans.: (a)
17. Top level includes people like :
a)
Managing
Directors (MD)
b)
Chairman
c)
Chief
Executive Officers (CEO)
d)
All of the above
Ans.: (d)
18. Top level in known as ____ because
all important decision related to whole organization is taken by top
management.
a)
Strategical level
b)
Tactical
level
c)
Operational
level
d)
All
of the above
Ans.: (a)
19. The functions of top level management
are :
a)
Defining
goal of an organization or business
b)
Defining
mission and vision
c)
Making
different long term policies for an organization
d)
All of the above
Ans.: (d)
20. Middle level of management includes
peoples who are designated as :
a)
Senior
managers
b)
Junior
managers
c)
Supervisors
d)
All of the above
Ans.: (d)
21. Middle level is known as ____ of
management
a)
Strategical
level
b)
Tactical level
c)
Operational
level
d)
All
of the above
Ans.: (b)
22. The managers working at middle level
____ manages the whole organization and reach to the goal defined by top
management
a)
Strategically
b)
Tactically
c)
Operationally
d)
All
of the above
Ans.: (b)
23. ____ middle level managers perform different
management functions to achieve the vision of organizations as follows :
a)
Planning
of their work
b)
Allocating
different resources as required
c)
Monitoring
the progress
d)
All of the above
Ans.: (d)
24. Lower level know as ____
a)
Strategical
level
b)
Tactical
level
c)
Operational level
d)
All
of the above
Ans.: (c)
25. Lower level includes people like :
a)
Clerks
b)
Supervisor
c)
Data
entry operators
d)
All of the above
Ans.: (d)
26. The lower level operations could be
day to day :
a)
Production
b)
Payment
c)
Purchase
d)
All of the above
Ans.: (d)
27. The lower level operations could be
day to day :
a)
sales
b)
receipts
c)
Stock
taking
d)
All of the above
Ans.: (d)
28. The functions done at lower level are
:
a)
Conduct
day to day activities
b)
Monitor
daily Progress
c)
Reporting
to middle level management
d)
All of the above
Ans.: (d)
29. Administrator functions or duties are
:
a)
Decision
making
b)
Policy
making
c)
Making
necessary adjustments
d)
All of the above
Ans.: (d)
30. ____ was main contributor in the
scientific school
a) Frank Gilbreth
b) Lillian G
c) Frederick W. Taylor
d) Henry Gantt
Ans.: (c)
31. Salient features of scientific
management :
a) Use of scientific methods to
accomplish each an every task in the best way.
b) The workers should be scientifically
selected based on their skill sets, qualification and should be trained.
c) Genius cooperation between workers
and management is required
d) All of the above
Ans.: (d)
32. Scientific Management is essential
because of following reasons :
a)
It
uses scientific approach throughout the management activities
b)
Mathematical
models are used to bring an innovation and radical changes in an organization.
c)
Selection
and recruitment of the workers was strictly skill based
d)
All of the above
Ans.: (d)
33. ____ was one of the renowned
management thinkers. He was a French mining engineer
a)
Henry Fayol
b)
Lillian
G
c)
Frederick
W. Taylor
d)
Henry
Gantt
Ans.: (a)
34. ____ Major contribution to the management
theory is his 14 principle of management that are based on his thoughts and
experience.
a) Henry Fayol’s
b) Lillian Gilbreth’s
c) Frederick W. Taylor’s
d) Henry Gantt’s
Ans.: (a)
35. Principle proposed by ____ are very
useful for the contemporary manager to manage their work efficiently and
efficiently
a)
Henry Fayol
b)
Lilian
G
c)
Frederick
W. Taylor’s
d)
Henry
Gantt
Ans.: (a)
36. Principle proposed by Henry Fayol are
:
a)
Division
of work
b)
Authority
and responsibility
c)
Discipline
d)
All of the above
Ans.: (d)
37. Principle proposed by Henry Fayol are
_____
a)
Unity
of direction
b)
Remuneration
of personnel
c)
Centralization
d)
All of the above
Ans.: (d)
38. ____ is proved to be a smart
technique that allows everybody to do the job as per their skills and
specialization.
a) Division of work
b) Authority and responsibility
c) Discipline
d) All of the above
Ans.: (a)
39. ____ results into better output in
terms of work.
a)
Division of work
b)
Authority
and responsibility
c)
Discipline
d)
All
of the above
Ans.: (a)
40. If specialization or ____ is not
used, the work done cannot be satisfactory.
a)
Division of the work
b)
Authority
and responsibility
c)
Discipline
d)
All
of the above
Ans.: (a)
41. _____ Is a right for giving orders and the
power to ensure obedience
a)
Division
of work
b)
Authority and responsibility
c)
Discipline
d)
All
of the above
Ans.: (b)
42. ____ is given to a manager (supervisor) to
get the work done from his or her subordinates.
a)
Division
of work
b)
Authority
c)
Discipline
d)
All
of the above
Ans.: (b)
43. ____ ensures that once the work or
work related orders are given to the subordinates, they becomes responsible for
that work and also they need to obey all the instructions of authorize person.
a)
Division
of work
b)
Authority
c)
Discipline
d)
All
of the above
Ans.: (b)
44. ____ is important not only for the
individual but for an organization too.
a) Division of work
b) Authority
c) Discipline
d) All of the above
Ans.: (c)
45. ____ mainly focuses on the specific
authority that guides subordinates about what work has to be done and how it
has to be done.
a) Division of work
b) Authority
c) Discipline
d) Unity of commands
Ans.: (d)
46. ____ is about the unity of authority
and plan of action
a) Unity of direction
b) Authority
c) Discipline
d) Unity of commands
Ans.: (a)
47. Good ____ or salaries motivate people
to work efficiently and make them satisfied and eventually they become loyal to
the organization
a)
Unity
of direction
b)
Remuneration
c)
Discipline
d)
Unity
of commands
Ans.: (b)
48. ____ has got many positive aspects.
It helps in organizing things properly.
a)
Unity
of direction
b)
Centralization
c)
Discipline
d)
Unity
of commands
Ans.: (b)
49. ____ allows employees to get involved
in the process of decision making for better results.
a)
Unity
of direction
b)
Centralization
c)
Discipline
d)
Unity
of commands
Ans.: (b)
50. ____ Organization is generally a
hierarchical structure. There is always a chain of authority instead of a
single authority.
a)
Scalar chain
b)
Centralization
c)
Discipline
d)
Unity
of commands
Ans.: (a)
51. Generally ____ flow of chain or
direction of chain is from highest organizational authority to the lowest
ranks.
a)
Scalar chain
b)
Centralization
c)
Discipline
d)
Unity
of commands
Ans.: (a)
52. As per the need organization, _____
of authority can be reduced or authorities may get added to this chain.
a)
Scalar chain
b)
Centralization
c)
Discipline
d)
Unity
of commands
Ans.: (a)
53. ____ is concern with the systematic
arrangements made for men, machines and materials.
a)
Scalar
chain
b)
Order
c)
Discipline
d)
Unity
of commands
Ans.: (b)
54. _____ is an organization is a blend
of kindness and justice
a)
Scalar
chain
b)
Order
c)
Equity
d)
Unity
of commands
Ans.: (c)
55. _____ has to be maintained is an
organization while treating the employees.
a)
Scalar
chain
b)
Order
c)
Equity
d)
Unity
of commands
Ans.: (c)
56. ____ refers to the planning. Only
planning is not sufficient. It is to be ensured that work is done as per the
plan mode.
a)
Scalar
chain
b)
Order
c)
Equity
d)
Initiative
Ans.: (d)
57. Management functions or duties are
broadly classified into following categories
a)
Planning
b)
Organizing
c)
Directing
d)
All of the above
Ans.: (d)
58. _____ can be defined as the set of
steps to do the particular activity or activities in systematic manner.
a)
Planning
b)
Organizing
c)
Directing
d)
All
of the above
Ans.: (a)
59. The base of success of any project or
goal of an organization is its _____
a)
Planning
b)
Organizing
c)
Directing
d)
All
of the above
Ans.: (a)
60. ____ is very important because remaining
all functions of management are strictly dependent on the planning activity.
a) Planning
b) Organizing
c) Directing
d) All of the above
Ans.: (a)
61. Objectives of good plan at department/
organizational level are :
a)
To
achieve the departmental as well as organizational goal.
b)
To
create the feasible work schedule and complete work within time limit.
c)
To
utilize resources in proper way by minimizing wastage.
d)
All of the above
Ans.: (d)
62. Objectives of good plan at
departmental/Organizational level are
a)
For
budgeting for different projects or works.
b)
Proper
delegation of work
c)
Allocating
rights and responsibilities
d)
All of the above
Ans.: (d)
63. Advantages of Planning :
a)
A
complete guideline about how, when and what work has to be done
b)
Planning
helps in completing goals of organization
c)
Delays
in work can be avoided
d)
All of the above
Ans.: (d)
64. Advantages of planning are :
a)
Work
can be done efficiently
b)
Planning
minimize work pressure and deadline tensions
c)
Standardization
can be enforced through plans
d)
All of the above
Ans.: (d)
65. It is observed that planning
generally gets fail because of following reasons:
a)
Incomplete
knowledge of work
b)
Absence
of data analysis
c)
Unrealistic
nature of plan
d)
All of the above
Ans.: (d)
66. It is observed that planning
generally gets fail because of following reasons:
a)
Absence
of feedback of plan
b)
Involvement
of people in planning in who are not involved in actual work
c)
Not
considering risks and uncertainty
d)
All of the above
Ans.: (d)
67. the types of plans are :
a)
Operational
plans
b)
Tactical
plans
c)
Strategic
plan
d)
All of the above
Ans.: (d)
68. The ____ process transforms plans
into reality.
a)
Planning
b)
Organizing
c)
Directing
d)
All
of the above
Ans.: (b)
69. ____ can be defined as the process of
establishing the orderly use of resources by assigning and coordinating tasks.
a)
Planning
b)
organizing
c)
directing
d)
all
of the above
Ans.: (b)
70. ____ Activity works within the
framework organizational structure.
a)
Planning
b)
Organizing
c)
Directing
d)
All
of the above
Ans.: (b)
71. Steps for organizational process :
a)
Review
plans and objectives
b)
Determine
the work activities necessary to accomplish objectives
c)
Classify
and group the necessary work activities
d)
All of the above
Ans.: (d)
72. ____ is division of labor.
a)
Work specialization
b)
Chain
of command
c)
Authority
d)
Delegation
Ans.: (a)
73. _____ is an unbroken line of
authority that links all persons in an organization
a)
Work
specialization
b)
Chain of command
c)
Authority
d)
Delegation
Ans.: (b)
74. ____ is the formal and legitimate
right of manager to make decisions, issue oders and allocate resources to
complete organization’s goal.
a)
Work
specialization
b)
Chain
of command
c)
Authority
d)
Delegation
Ans.: (c)
75. _____ is the downward transfer of authority
from a manager to a subordinate.
a) Work specialization
b) Chain of command
c) Authority
d) Delegation
Ans.: (d)
76. _____ can be defined as the
management of interdependence in work situations.
a)
Controlling
b)
Motivating
c)
Coordinating
d)
Decision
making
Ans.: (c)
77. _____ Activity includes communication
among the different departments which are dependent on each other.
a) Controlling
b) Motivating
c) Coordinating
d) Decision making
Ans.: (c)
78. ____ plays very important role as it
ensures harmony among different departments.
a)
Controlling
b)
Motivating
c)
Coordinating
d)
Decision
making
Ans.: (c)
79. After plans have been made and the
organization has been established and staffed, the next step is _____
a)
Planning
b)
Organizing
c)
Directing
d)
Controlling
Ans.: (c)
80. _____ can be called as “leading”, “motivating”,
“actuating” and so on.
a)
Planning
b)
Organizing
c)
Directing
d)
Controlling
Ans.: (c)
81. _____ is the process of passing
information and understanding form one person to another. Effective
communication systems in the organization becomes backbone of coordination.
a) Communication
b) Leadership
c) Motivation
d) All of the above
Ans.: (a)
82. _____ can be defined as the process by
which a manager guide and influence the work of his subordinates.
a) Communication
b) Leadership
c) Motivation
d) All of the above
Ans.: (b)
83. _____ means arousing desire in the
minds of workers to give their best to the enterprise. It is the act of
stimulating or inspiring workers.
a)
Communication
b)
Leadership
c)
Motivation
d)
All
of the above
Ans.: (c)
84. The qualities of Leadership are :
a)
Honesty
b)
Forward-looking
c)
Competent
d)
All of the above
Ans.: (d)
85. When work diverts from the standards
then _____ is very much required.
a)
Planning
b)
Organizing
c)
Directing
d)
Controlling
Ans.: (d)
86. _____ is defined as the force that
causes an individual to behave in a specific way.
a) Communication
b) Leadership
c) Motivation
d) All of the above
Ans.: (c)
87. _____ produces best results in terms
of productivity.
a)
Communication
b)
Leadership
c)
Motivation
d)
All
of the above
Ans.: (c)
88. _____ can be done in several ways
like rewards, promotions, bonus, appreciations, hike in salaries, higher
designation, freedom for decision making for their own work etc.
a)
Communication
b)
Leadership
c)
Motivation
d)
All
of the above
Ans.: (c)
89. Rights of _______ let the business
grows and sustain in the market.
a) Decision making
b) Policy making
c) Making necessary adjustments
d) Controlling and ensure the discipline
Ans.: (a)
90. ______ is the process of solving the
problem or I finding out the new business opportunity.
a)
Decision making
b)
Policy
making
c)
Making
necessary adjustments
d)
Controlling
and ensure the discipline
Ans.: (a)
91. The example of _____ could be
launching of new product, minimizing material wastage while production,
recruiting people, stopping production of a particular product etc.
a)
Decision making
b)
Policy
making
c)
Making
necessary adjustments
d)
Controlling
and ensure the discipline
Ans.: (a)
92. There are three conditions or factors
that effects decision making as follows :
a)
Certainty
b)
Risk
c)
Uncertainty
d)
All of the above
Ans.: (d)
93. Under _____ when decisions are made,
then we can understand that manager has perfect knowledge of all the
information needed to make the decisions.
a)
Certainty
b)
Risk
c)
Uncertainty
d)
All
of the above
Ans.: (a)
94. In _____ type of environment, the
manager is not able to gather the complete information.
a)
Certainty
b)
Risk
c)
Uncertainty
d)
All
of the above
Ans.: (b)
95. There is one more condition or case
when information is very poor that managers cannot understand the probabilities
and outcomes of alternatives. This condition is known as _____
a)
Certainty
b)
Risk
c)
Uncertainty
d)
All
of the above
Ans.: (c)
96. Decision making under conditions of
_____ is like being a pioneer entering unexplored territory
a) Certainty
b) Risk
c) Uncertainty
d) All of the above
Ans.: (c)
97. In this condition of _____ managers
have to rely heavily on creativity for solving the problems.
a) Certainty
b) Risk
c) Uncertainty
d) All of the above
Ans.: (c)
98. Types of personal decision making
models are :
a) Rational/Logical
b) Intuitive
c) Predisposed
d) All of the above
Ans.: (d)
99. Decision taken by supervisor could be
:
a)
Change
in work schedule or rescheduling
b)
Increase
or decrease in production depending on current situation
c)
Decision
regarding rejection of raw material or finished products
d)
All of the above
Ans.: (d)
100.
Henry
Fayol proposed _____ number of principle of management
a)
10
b)
20
c)
14
d)
30
Ans.: (c)
OPTIONAL:
UNIT 02: Management Process
1. Getting the things down from other is
called as :
Ans.: a (management)
2. What is management
Ans.: d (both (a) an (b) are correct)
a. It is service
b. It is an art
c. Both (a) and (b) are wrong
d. Both (a) and (b) are correct
3. Out of mentioned below, which is not
the input of management
Ans.: c (Growth)
4. Out of mentioned below, which is not
the output of management
Ans.: c (Technology)
5. Following are mentioned few duties
which is not the duty of management
Ans.: d (To do manufacturing)
6. When there is no management, then
what will not happen?
Ans.: d (Mature work culture)
7. Management is there from
Ans.: d (Historical period)
8. Match the pairs :
Ans.: a - 1-(b),
2-(d), 3-(a), 4-(c)
1. Adam Smith – economics
2. F.W. Taylor – Scientific Management
3. Maslow – Need Hierarchy
4. Henry Fayol – Principle of Management
9. Mc Gregor has given his contribution
in
Ans.: c (Theory X and Theory Y)
10.
F.W
Taylor has given his highest contribution in
Ans.: d (Scientific Management)
11.Principles of management Is the
contribution of
Ans.: b (Henry Fayol)
12.
What
is the correct chronological order for following evolution phases in descending
order (older to latest)?
Ans.: a (1-4-3-5-2)
1. Scientific management theory
2. Administrative Management Theory
3. Behavioral Management Theory
4. Management Science Theory
5. Organization Environment Theory
13.
Below
are mentioned ‘stages’ of evolution in management – which is not correct?
Ans.: b (The war management concept)
14.
“Management
is getting the things done by others” – is said by
Ans.: c (Mery Parker)
15.
Management
is not
Ans.: d (All are wrong)
1. an economic resource
2. social science
3. team activity
4. all are wrong
16.
management
is
Ans.: d (All are correct)
1. an economic resource
2. social science
3. team activity
4. all are correct
17.
Henry
Fayol has given _____ principle of management
Ans.: a (14)
18.
Following
is not the principle of management
Ans.: c (Staffing)
a. Initiative
b. Scalar chain
c. Staffing
d. Responsibility
19.
Following
is not the principle of management
Ans.: b (Organizing)
a. Team work
b. Organizing
c. Division of work
d. Remuneration
20.
Following
is not the principle of management
Ans.: c (Decentralization)
a. Centralization
b. Authority
c. Decentralization
d. Esprit de corps
21.
Following
is not the principle of management
Ans.: d (Planning)
[Not principle of management:
C (Staffing)
B (Organizing)
C (Decentralization)
D (Planning)]
22.
Position,
designation, seniority defines
Ans.: c (Authority)
23.
Meaning
of ____ is right to command
Ans.: b (Authority)
24.
Which
statement is wrong?
Ans.: a (Authority cannot be delegated)
a. Authority cannot be delegated
b. Authority is the power to act
c. Higher the post, higher is the
authority
d. Authority is right to command
25.
What
is the second side of coin of authority
Ans.: c (Responsibility)
26.
Discipline
starts from
Ans.: a (Top to Bottom)
27.
Which
is statement is wrong?
Ans.: c (Discipline starts from bottom to top)
a. Discipline has to excuses
b. Organization needs discipline
c. Discipline starts from bottom to top
d. Lack in discipline leads to loss of
control
28.
When
many functions are controlled by a central authority, it is called as
Ans.: d (Centralization)
29.
_____ gives
power in the hands of center:
Ans.: b (Centralization)
30.
Which
statement is wrong?
Ans.: d (Centralization
consider local issues always)
a. Controls are concentrated at the
center
b. Many functions are controlled by a
central authority
c. Centralization gives power in the
hands of center
d. Centralization consider local level
issues always
31.
Out
of following which is not the correct advantages of “Division of Work”?
Ans.: c (Quality of
work gets reduced)
a. Extra pressure of work on very few is
reduced
b. Monopoly in skills by few is reduced
c. Quality of work gets reduced
d. Work gets completed in less time.
32.
To
start with enthusiasm is called as
Ans.: a (initiative)
33.
Which
statement is wrong?
Ans.: b (Support by others is not expected after anybody’s
initiative)
a. Initiative leads into new horizons of
work
b. Support by -------
c. Initiative may solve difficult
problems
d. Someone should take initiative
34.
Remuneration
is not based on
Ans.: c (Emotions)
35.
Recruitment
of remuneration is not
Ans.: d (Based on reference and contacts)
36.
Which
statement is wrong?
Ans.: b (Talent of each member cannot be used)
a. In team work, there is more
contribution from many
b. Talent of each member -----
c. Teamwork creates good work culture
d. Big task is easier due to teamwork
37.
Due
to unity of direction
Ans.: a (Deviation from the defined path is prevented)
38.
Concertation
in work is possible by
Ans.: c (Stability)
39.
Equity
is seen by few ways, which is not the correct from following?
Ans.: d (Chair and cabin)
40.
Which
statement is wrong?
Ans.: a (Equity means equal wages)
a. Equity means -----
b. Equity gives dignity
c. Equity means no bias
d. Equity gives good work culture
41.
What
is Esprit de corps?
Ans.: b (It is principle of management)
42.
Out
of following which is not the function of management?
Ans.: c (Discipline)
43.
Out
of following which is not the function of management?
Ans.: b (Remuneration)
44.
Deciding
in advance what to do, how to do and when to do is
Ans.: a (Planning)
45.
Which
is not correct type of plan?
Ans.: c (Operational plan)
46.
Why
plan fails?
Ans.: d (all are correct)
a. Lack of knowledge
b. Insufficient data
c. Over confidence
d. All are correct
47.
Which
statement is wrong?
Ans.: c (Conspiracy from enemy and bad luck)
a. No feedback system
b. Less devotion to work
c. Conspiracy from enemy ------
d. Incorrect person to do plan
48.
Out
of following which is not the objective of good plan?
Ans.: d (To get money)
49.
Which
statement is wrong?
Ans.: b (Planning is sometimes essential)
a. Planning effects performance
b. Planning is sometimes essential
c. Planning puts focus on objective
d. Planning is necessary to facilitate
control
50.
Which
statement is wrong?
Ans.: c (Planning is thinking after failures)
a. Proper planning helps in motivating
b. Planning reduces risk
c. Planning is thinking after failures
d. Planning improves the process
51.
First
step in planning is:
Ans.: a (Establish goals)
52.
Which
is the next function after planning?
Ans.: b (Organizing)
53.
The
assignment of each grouping to a manager with the authority necessary to
supervise it, is called as
Ans.: b (Organizing)
54.
Out
of following, which is the first activity in organizing?
Ans.: d (Identifying the activities)
55.
Providing
correct way of working is
Ans.: c (Directing)
56.
Which
statement is wrong?
Ans.: a (directing is one time activity)
a. Directing is one time activity
b. Directing should not be autocratic
c. Directing needs good vision in
leadership
d. Directing needs communication and
motivation as supportive functions
57.
_____ is like a brake system in automobiles
Ans.: c (Controlling)
58.
Work
on correct track with correct speed Is possible by
Ans.: d (Controlling)
59.
Out
of following which is not the characteristics of controlling?
Ans.: a (It is a starting function)
60.
Techniques
not used for control function are
Ans.: d (Budget)
61.
Control
system having feedback is
Ans.: d (Closed loop system)
62.
First
step in decision-making is
Ans.: a (Recognize the problem)
63.
Which
of the following is the advantages of effective decision-making
Ans.: d (all are correct)
a. No delays
b. Quick actions
c. No confusion
d. All are correct
64.
Which is not the technique for effective
decision-making in Core Company?
Ans.: c (Outsourcing)
65.
Need
– want – satisfaction chain is invented by
Ans.: d (Maslow)
66.
Which
is the first need in Maslow’s need hierarchy?
Ans.: a (Physiological)
67.
Food,
water, shelter, are _____ needs.
Ans.: a (Physiological)
68.
How
many need are mentioned in Maslow’s need hierarchy?
Ans.: c (5)
69.
Do
the proper ascending sequence (down to up) of Maslow’s needs
Ans.: a (1-2-3-4-5)
1. Physiological
2. Security need
3. Love/affection needs
4. Social needs
5. Self-actualization needs
70.
‘They
expect less but contribute more” –This happened in which phase?
Ans.: b (Self-actualization needs)
71.
Which
is the last need (higher) in Maslow’s need hierarchy?
Ans.: c (Physiological needs)
72.
Employees
get energized due to
Ans.: c (Motivation)
3. Organizational management
1.
The
main components of the organization are:
(a) Clearly defined objectives
(b) Well organized and coordinated group of people
(c) Suitable division of work and labour
(d) All of the above
Ans: d
2.
The
main components of the organization are:
(a) Predefined and clear policies and procedures.
(b) Right division of authority and responsibility
(c) Effective communication system
(d) All of the above
Ans: d
3.
Organization
has following characteristics:
(a) Small or large group of people
(b) Group is leaded by executive leader
(c) Important tool of management is organization
(d) All of the above
Ans: d
4.
Organization
has following characteristics:
(a) Allocates
duties and responsibilities to employees
(b) Organization
establishes a relationship between authority and responsibility.
(c) Organization
controls the efforts of the group
(d) All of the
above
Ans: d
5.
Elements
of organization are:
(a) Set of defined
objectives.
(b) Well organized
and coordinated group of people
(c) Proper division
of work and labour
(d) All of the
above
Ans: d
6.
Elements
of organization are:
(a) Set of defined
objectives.
(b) Well organized
and coordinated group of people
(c) Proper division
of work and labour
(d) All of the
above
Ans: d
7.
Organization
can be defined as _______
(a) The process of identifying and grouping the work to be
performed
(b) Defining and
delegating responsibility and authority
(c) Establishing
relationships for the purpose of enabling people to work most effectively
together in accomplishing objectives
(d) All of the
above
Ans: d
8.
The
principles of organization are:
(a) Understanding
and formulating of objectives
(b) Association and
relation of basic components of organization
(c) Responsibility
and authority
(d) All of the
above
Ans: d
9.
The
principles of organization are:
(a) Span of control
(b) Division and
grouping of work
(c) Proper
delegation of work
(d) All of the
above
Ans: d
10.
Which factors decide the type of organization:
(a) Size of the
organization
(b) Nature of the
product being manufactured
(c) Complexity of
the problems being faced
(d) All of the
above
Ans: d
11.
Commonly
known forms (types) of organization structures:
(a) Line, military
or scalar organization
(b) Line and staff
organization
(c) Functional
organization
(d) All of the
above
Ans: d
12.
_______ is one of the simplest types of
organization
Ans: Line organization
13.
Line organization is also called as _______ or
scalar organization
Ans: Military organization
14.
Application of Line organization:
a.
Small
businesses
b.
Military
c.
Automated
industries like textile
d.
All
of the above
Ans: d
15.
Advantages of line organization are:
a.
Simple
and easy
b.
Flexible
structure and easy to expand or contract
c.
Easy
addition and removal of members
d.
All
of the above
Ans: d
16.
Advantages of line organization are:
Ans: High degree of discipline
17.
Disadvantages of line organization are:
a.
Neglect’s
area of specialization of employees
b.
May
overload employees
c.
Highly
skilled and qualified people are required
d.
All
of the above
Ans: d
18.
The line organization is developed step by
step to shape as the _______.
a.
Line
organization
b.
Line
and staff organization
c.
Functional
organization
d.
All
of the above
Ans: b
19.
The _______ makes a combination of the line
organization with staff departments that helps and advice line departments.
Ans:
Line and staff organization
20.
Advantages of line and staff organization:
a.
Expert
advice is available from specialist staff executives
b.
Perfect
work division
c.
No
work overloading
d.
All
of the above
Ans: d
21.
Advantages of line and staff organization:
a.
Improved
product quality
b.
Duties
are clear to each person
c.
System
functions smoothly
d.
All
of the above
Ans: d
22.
Disadvantages of line and staff organization:
a.
Increase
in cost of product because of increase in staff
b.
More
people more confusions and breaking rules and regulation by line of executives
c.
Unclear
functions create confusions
d.
All
of the above
Ans: d
23.
The _____ mainly focuses on the specialized
are of the person and the person does the same job. This is also known as staff
organization type.
Ans:
Functional organization
24.
Merits of functional organization:
a.
Because
of specialization, responsibilities are fixed.
b.
Expert
advice can received
c.
Better
quality of products can be produced
d.
All
of the above
Ans: d
25.
Demerits or disadvantages of functional
organization:
a.
Coordination
is difficult as many people are working on the same level,
b.
Maintaining
discipline is difficult
c.
Assigning
of new job is difficult because of specialization
d.
All
of the above
Ans: d
26.
____ are internally formed
Ans: Project organization
27.
Features of project organization are:
a.
Organizations
are internally formed
b.
These
organizations are generally temporary
c.
Less
number of employees
d.
All
of the above
Ans: d
28.
Types of project organization
a.
Function
based
b.
Project
based
c.
Matrix
based
d.
All
of the above
Ans: d
29.
Advantages of project organization:
a.
The
scope of work is limited so efficiency is more.
b.
Teamwork
is not emphasized
c.
This
structure reduces communication and decision making
d.
All
of the above
Ans: d
30.
Disadvantages of project organization:
a.
Temporary
nature of organization
b.
Loose
bonding in groups
c.
Functions
are complicated
d.
All
of the above
Ans: d
31.
Advantages
of departmentation:
a.
Duties
and authority are precisely known so efficiency is more.
b.
Persons
can be made accountable for the results.
c.
Managers
are allowed to take initiative and learn new managerial skills
d.
All
of the above
Ans: d
32.
Departmentalization can be done on the basis
of following factors:
a.
Process
b.
Product
c.
Customers
are Markets
d.
All
of the above
Ans: d
33.
Advantages of departmentation by product:
a.
Every product or department can be made
accountable for profit or loss incurred by it.
b.
Evaluation of performance of every product
line can be done individually
c.
It is possible to find out profitable and
non-profitable product lines.
d.
All of the above.
Ans:
d
34.
Disadvantages of departmentation by product:
a.
Management cost is increased
b.
Services are duplicated or repeated
c.
Man power requirements are more
d.
All of the above
Ans:
d
35.
______ is accountability. It is an obligation
of a subordinates to his/her boss to do given work
Ans: Responsibility
36.
________ means right ( to command ) and power
to act
Ans: Authority
37.
_______ stands for granting of authority to
subordinates to accomplish or perform a particular assignment while operating
within pre-decided limits and standards established within pre-decided limits
and standards established.
a.
Delegation of authority
b.
Responsibility
c.
Effective Delegation
d.
All of the above
Ans:
a
38.
Principles of delegation of authority are:
a.
Parity (equality) between authority and
responsibility
b.
Responsibility
c.
Responsibility in terms of results
d.
All of the above
Ans:
d
39.
The
span of control depends on the factors like:
a.
Trained and experienced subordinates
b.
Type of work
c.
Capacity of executive or manager
d.
All of the above
Ans:
d
40.
Limitations of span of control:
a.
Wider span of control may not be manager
by executive.
b.
Inexperienced subordinate may create
problems.
c.
Ego problems may arise.
d.
All of the above
Ans:
d
41.
______ means giving right work to the right
person.
Ans: Effective Delegation
42.
__________ allows executive to give
opportunity to his subordinates to think, make work related decision, and get
developed.
Ans: Effective Delegation
43.
Absence of ________ in units will lead to
the failure in achieving organizational goal. So balancing is foremost.
Ans: Balance
44.
____ means adequate resources, man power and
necessary authority for smooth functioning of department.
Ans: Balanced
45.
__________ of organization means a capacity to
tolerate losses because of key persons leaving organization.
a.
Balance
b.
Stability
c.
Flexibility
d.
All
of the above
Ans: b
46.
__________ ensures that in absence of these
key persons organization do not make any losses and run smoothly towards its
growth.
Ans:
Stability
47.
To ensure _______ a long term planning related
to the required manpower and training and development for employees is required
Ans:
Stability
48.
Organizational ____ is mainly about adjusting
work assignment, man power, and facilities that are required when temporary
changes occur while working.
Ans:
Flexibility
49.
_______ allows bending and blending without
experiencing any grave setback or delay.
Ans:
Stability
50.
_______
can culminate into strikes or fights among employees and cause serious
consequences to the organization.
Ans:
Miscommunication
51.
A ____ assists in taking decisions correctly
and also implementing it effectively and efficiently
Ans
: Good communication
52.
___________ communication takes place from top
executive to lowest grade of the employee
Ans:
Downward
53.
_______
communication could be information or instruction.
Ans:
Downward
54.
_______ is from bottom to top.
Ans:
Upward communication
55.
_________ is generally from lowest grade
employee to the top executive.
Ans:
Upward communication
56.
_______
cloud be in the form of suggestions, complaints, feedback, orientation etc.
Ans:
Upward communication
57.
__________
takes place among employees who have same
level of authority
Ans: Horizontal communication
58.
_____ cloud be rumours or gossips. Sometimes
rumors could be a truth but it creates a wrong picture. Effective communication
system can help in improving official communication.
Ans:
Unofficial communication
59.
Forms
of the organization are dependent on:
a.
Type
of business
b.
Type
of product
c.
Both
(a) and (b)
d.
None
of above
Ans: c
60.
In
________ the owner of the organization is proprietor i.e single person.
Ans:
Single ownership (private undertaking)
61.
In
______ firm there could be two or even more than two partners are there who
share all profits and expenses.
Ans: Partnership
62.
A_____ society is group share holders
(individuals)
Ans:
Joint stock companies
63.
__________
are private and mainly created for providing the different services to the
individual as well as society.
Ans:
Cooperative organizations
64.
Government
sector means the companies which are public limited and having government
undertaking.
Ans:
Partnership
65.
________
can be defined as running business by the single owner
Ans:
Proprietorship
66.
In simple words the ________ can be defined as
the association of two or more people doing business together to share the
profit and expenses coming out of the business.
Ans:
Partnership
67.
In __________ capital is raised by partners.
So profit, losses and expense are shared
Ans:
Partnership
68.
A_________ contributes capital, shares profits
and loses of the firm
Ans:
Sleeping partner
69.
______
partner does not contribute in day to day activities or affairs of firm.
Ans:
Sleeping partner
70.
The _____ takes part in all day to day
activities or management.
Ans:
Active partner
71.
The
______ is also known as working partner.
Ans:
Active partner
72.
_____ cloud be manager, organizer adviser, or
controller.
Ans:
Active partner
73.
A partner who is not publicly known as a
partner but takes active part in the affairs of a business is
Ans:
Secret partner
74.
Nominal partner contribute in terms of their
goodwill and credit from the market
Ans:
Nominal partner
75.
Legally
___________- are not allowed but still they may exist with the consent of other
partners
Ans:
Minor partner
76.
The ______ continue partnership till the
mutual faith, trust and confidence exist among all partners
Ans:
Partner at will
77.
The ________ share only profit and not liable
for anything are partners in profit only
Ans:
Partners in profit only
78.
Types of partnership:
a.
General
partnership
b.
Limited
partnership
c.
Both
a and b
d.
None
Ans: c
79.
Advantages of partnership:
a.
Decision
making becomes easy and meaningful
b.
Capital
is shared
c.
Responsibilities
are shared
d.
All
of the above
Ans: d
80.
Disadvantages
of partnership firms:
a.
Because
a large scope, business may become complicated activity
b.
There
could be confusions because of involvement of many people
c.
Profits
are shared
d.
All
of the above
Ans: d
81.
Applications
of partnership could be
a.
Legal
firms
b.
Manufacturing
industries
c.
Software
development firms
d.
All
of the above
Ans: d
82.
Types of joint stock companies:
a.
Private
Limited joint stock company
b.
Public
Limited joint stock company
c.
Both
a and b
d.
None
Ans: c
83.
In ________ share holders are private people
not general public
Ans:
Joint stock private Limited stock company
84.
In _____ share holders are unlimited and
general people
Ans:
Joint stock public Limited company
85.
In ____ minimum members involved are 2 and
maximum are 50
Ans:
Joint stock private Limited stock company
86.
In __________ minimum members involved are 7
and maximum is not limit
Ans:
Joint stock public Limited company
87.
More than 20 persons are involved in
__________
Ans:
Joint stock
88.
Generally two or more people are involved
in______
Ans:
Partnership
89.
___________
are Biotechnology Information System, Network Department of Consumer Affairs,
and department of Education etc.
Ans: Government departments
90.
__________
are Balaji Telefimls, Bank of Maharashtra, Bata India Limited, Bharat
Fertilizers Ltd etc.
Ans:
Public companies
91.
___________
are Life Insurance corporation of India (LIC)
Ans:
Public corporations
92.
In ______ the capital is collected from the private
partners
Ans:
Private Limited companies
93.
In
_______ the capital is collected form the public by issuing shares having small
face value
Ans:
Public Limited companies
94.
Joint stock private Limited company_______
Ans:
Not managed by government
95.
Public undertaking company___
a.
Not
managed by government
b.
Managed
by government
c.
Both
a and b
d.
None
Ans: b
96.
In joint stock private Limited
company__________
Ans:
No limitation for business activities
97.
In
public undertaking company_______
Ans:
Government ensures control.
98.
In joint stock private Limited
company___________.
Ans:
Capital can be raised from general people
99.
In public undertaking company________
Ans:
Government provides capital
100.
___________
companies are established for large profit business.
Ans:
Government provides capital
[ Additional Questions 3. Organizational Management ]
1.
Which
is unimportant word in the definition of organisation?
a.
Group
of persons
b.
Profit
c.
Common
aim
d.
United
together
2.
Following
group is not an organization
a.
Group
of 15 people on bus stop
b.
Employees
doing discussion in work area
c.
Meeting
members in a company
d.
Labour
working on a site
3.
Which
are the aims of forming organization?
a.
Teamwork
b.
Combined
efforts
c.
Responsibility
on all
d.
All
are correct
4.
Which
statement is wrong?
a.
Organisation
is a group of working people
b.
It
has aims has no boundaries
c.
Organisation
has no boundaries
d.
Organisation
is a system
5.
Which
is the first step in organisation forming?
a.
Assignment
of duties
b.
Aims
are determined
c.
Identifying
activities
d.
Formulating
plans
6.
Structure
of organisation is represented by
a.
Organisation
chart
7.
The
structure of organisation is depends on
a.
Scope
of functions
b.
Span
of control
c.
Number
if employees
d.
All
of the above
8.
The
structure of organisation is not dependent on
Ans:
Profit margin
9.
Which
are the essential of organisation?
a.
Organisational
chart
b.
Delegation
c.
Integration
d.
All
10.
Which dimension factor in deciding structure
of organisation
a.
Departmentation
b.
Hierarchy
c.
Both
hierarchy and departmentation
d.
None
of the above
11.
Vertical dimension of organisation structure
defines
Ans:
Hierarchy
12.
Scalar organisation is also known as
Ans:
Line organisation
13.
Line organisation is also known as
Ans:
Vertical
14.
Military type organisation is seen in
Ans:
Line
15.
Decisions are very quick in
Ans:
Line organisation
16.
Which is not the correct advantage of ‘Line
organisation’?
Ans:
Specialised
17.
Which is not the correct disadvantage of ‘Line
organisation’?
Ans:
Nobody is overloaded
18.
At which place line organisation is not
possible?
Ans:
Government company
19.
Where line organisation is applicable?
a.
Workshops
b.
Small
firms
c.
Small
process industries with automation
d.
All
20.
Functional organisation is also called as
Ans:
Staff organisation
21.
Functional organisation is
Ans:
Horizontal
22.
Which is not the correct disadvantage of staff
organisation?
a.
Performance
better than line
b.
Standardisation
in process
c.
More
productivity than line
d.
All
23.
Which is not the correct disadvantage of staff
organisation?
Ans:
Lack of specialisations
24.
Line and staff organisation is
Ans:
Horizontal and Vertical
25.
Which organisation is temporary in nature?
Ans:
Project
26.
Project organisation has few forms. Which is
correct one?
a.
Balanced
matrix
b.
Project
matrix
c.
Functional
matrix
d.
All
27.
Which is the correct limitation of project
organisation?
a.
Heavy
pressures of work
b.
Complication
of functions
c.
Differences
of opinions
d.
All
28.
_______ is a process of dividing large
organisation into small and flexible administrative units
Ans:
Departmentation
29.
Which is the aim of departmentation?
a.
To
distribute work
b.
To
make people specialised
c.
To
give freedom for each function
d.
All
of the above
30.
Following is not the aim of departmentation
Ans:
To make the power centralised
31.
Which is not the type of departmentation?
Ans: By material pattern
32.
‘Car division’ in Tata Motors is example of
Ans:
Departmentation by product
33.
Which statement is wrong?
In
product type departmentation:
a.
Attention
is given to the product
b.
Product
may become brand name
c.
People
become expert in the work allotted to them
d.
No
duplication of work
34.
‘Sales Department’ in Nokia is the example of
Ans:
Departmentation by function
35.
‘Heat treatment’ shop in Kirloskar, is the
example of
Ans:
Departmentation by process
36.
Which is the principle of organisation?
a.
Authority
and responsibility
b.
Span
of control
c.
Delegation
d.
All
37.
‘Number of subordinated handled by one manager effectively’ is called as __________
Ans:
Span of control
38.
___________ check the result, ______ shows the
result
Ans:
Authority, responsibility
39.
Which is the pre-requisite of effective
delegation?
a.
Goals
establishment
b.
Decision-making
freedom
c.
Independent
subordinated
d.
All
of the above
40.
Which
is the first step in effective delegation?
Ans:
Goals establishment
41.
Which is not the advantage of delegation?
Ans:
Controls from centre increases
42.
Ability
to adjust, change bend is
Ans:
Flexibility
43.
Following is not the type of communication
Ans:
Clear
44.
‘Instructions’ is the_________ communication
Ans:
Downward
45.
‘Meeting’ is the _______ communication
Ans:
Formal
46.
‘Request’ is the ________ communication
Ans:
Upward
47.
Which is barrier in communication
a.
Language
problem
b.
Poor
knowledge
c.
Confused
information
d.
All
48.
Which is the factor responsible in the
selection of type of ownership?
a.
Capital
required
b.
Scope
of business
c.
Types
of business
d.
All
49.
Which statement is wrong?
a.
Has
single owner
b.
Owner
is supreme
c.
Has
limited liability
d.
Owner
is responsible for all
50.
Which is not the advantage of sole
proprietorship?
Ans:
Business grown is faster
51.
Which is not the limitation of sole
proprietorship?
Ans:
Corruption is more
52.
Following business is not coming under sole
proprietorship?
Ans:
Insurance corporation
53.
How may parents can be eligible for
partnership?
a.
2
b.
B.
2 to 5
c.
2
to 10
d.
All
are correct
54.
Which is incorrect type of partner?
Ans:
Perfect
55.
About ‘Sleeping Partner’ which statement is
wrong?
a.
Also
called as silent partner
b.
They
do investment
c.
Do
not active in daily work
d.
Do
not share profit/loss
56.
Which statement is correct about ‘Nominal
Partners’?
a.
Do
not activity involved
b.
Do
not invest
c.
Business
can use their names
d.
All
are correct
57.
Which is type of partnership?
a.
General
b.
Limited
c.
Private
d.
Both
a and b
58.
‘Achievement due to one, will be shared by all
others.’ This happens in
Ans: General partnership
59.
All partners have the same status in
Ans:
General partnership
60.
Which is included in the ‘Partnership Deed’?
a.
Name
of the firm
b.
Location
of work
c.
Names
of partners
d.
All
61.
Agreement between partners is called as
Ans:
Partnership Deed
62.
Highest business secrecy is in
Ans:
Sole proprietorship
63.
Unlimited liability is there in
a.
Proprietorship
b.
Partnership
c.
Both
a and b
d.
None
64.
Which statement is wrong about partnership?
Ans:
There is limited liability
65.
Which is not the type of joint stock company?
Ans:
Public Sector
66.
Maximum members in private limited company
are:
Ans:
20
67.
Minimum members is private limited company are
Ans:
2
68.
Minimum number of directors in Pubic Limited
company are
Ans: 3
69.
Maximum shareholder in public limited company
a. 7
b. 10
c. 50
d. No
limit
70.
Minimum shareholders in public limited company
Ans: 07
71.
Which is not the advantages of stock
company?
Ans: Easy to form
72.
Which is not the limitation of joint stock
company?
Ans: Political interference is
more
73.
Maximum
members in cooperative society are
a. 50
b. 100
c. 500
d. No
limit
74.
Which statement about cooperative society is
wrong?
Ans:
Ownership is in the hands of government
75.
Which is not the advantage of cooperative
society?
Ans:
Business growth is faster
76.
Which is not the limitation of cooperative
society?
Ans:
Government support is less
77.
Government sector is also called as
Ans:
Public sector
78.
The basic aim of the government sector is
Ans:
Providing service to society
79.
Which is the objective of public sector?
a.
Public
welfare
b.
Employment
opportunities
c.
Balanced
regional growth
d.
All
80.
Which is not the type of public sector
Ans:
Public Limited Company
81.
Highest control of government is there in
Ans:
Government Department
82.
Which is not the advantage of Public sector?
Ans:
Secrecy is more
83.
Which is not the limitation of Public Sector?
Ans:
Unlimited liability
84.
Documentation
is less in
Ans:
Sole proprietorship
85.
Maximum security of job in
Ans:
Public sector
86.
Secrecy is least in
Ans:
Public sector
4. Industrial
Safety and Legislative Acts
1.
Types
of accidents are:
a.
Minor
b.
Serious
c.
Fatal
d.
All
of the above
Ans: d
2.
Taking
shortcuts, Lack of adequate knowledge are _________
Ans: Accidents because of workers
3. Causes
of accidents are______
a. Accidents
because of workers
b. Accidents
because of management
c. Both
a and b
d. None
Ans:
c
4. Accidents
because of management are ________
a. Mental
distractions
b. Lack
of training to workers
c. Equipment
for safety are not provided
d. Both
b and c
Ans:
d
5. Accidents
due to layout or design of working place:
a. Earthquakes
b. Wrong
designs or layout of working place
c. Oily
or greasy floors
d. Both
b and c
Ans:
d
6. Floods,
Earthquakes, Tsunami are ________
Ans: Accidents because of natural
disasters
7. General
causes of accidents could be as follows:
a. Accidents
due to dangerous machines
b. Unsafe
physical condition
c. Moving
objects
d. All
of the above
Ans:
d
8. Which
factor does not cause accidents due to dangerous machines?
Ans: Unsafe clothing
9. Unsafe
physical conditions occurs because of following reason:
Ans: No proper ventilation
10.
In an industry these accidents are caused
because of ___________ or falling
objects.
Ans: Moving objects
11.
Accidents may cause because of partial or no
knowledge of processes or may be because of physical weakness of person working
is called as _______.
Ans: Personal factors
12.
____________ accidents are caused because of
not following safety procedures.
Ans: Unsafe acts
13.
Unsafe acts occurs because of following
reasons:
Ans: Working with unsafe speed
14.
Accidents because of electrical factors
includes following reason:
Ans:
Absence of proper protecting devices
15.
Accidents include injuries because of exposure
to:
a.
Harmful
substance
b.
Toxic
gases
c.
Dangerous
fumes
d.
All
of the above
Ans: d
16.
Industrial accidents have following types:
a.
Machinery
b.
Toxic
c.
Both
a and b
d.
None
of above
Ans: c
17.
________ accidents happen because of
insufficient safeguard of machines.
a.
Machinery
b.
Non-machinery
c.
Both
a and b
d.
None
of the above
Ans: a
18.
Reasons due to which non-machinery accidents
may occur
Ans:
Age of person
19.
Preventive measures that can be taken related
to working environment are __________
Ans:
Safe workplace and working conditions
20.
Good layout, reduction in noise level are
_________
Ans:
Atmospheric conditions
21.
__________ has to be kept at secured and
separate place which is not easily accessible
Ans:
Inflammable material
22.
Which of the following conditions is not
physical condition :
Ans:
Sufficient working space for movement
23.
House-keeping
to be good is the condition of _____.
Ans:
Good house-keeping
24.
Fire extinguishers should be kept at easily accessible places is the
condition of __________
Ans:
Personal protection devices
25.
Based on the past experiences, the danger zone
should be declared and proper precautions need to be taken in the condition of
____________
Ans:
Safe activities in the organization
26.
Good house-keeping includes following
conditions:
a.
Use
of machine that will reduce noise level
b.
Separate
place for machine that are producing noise
c.
Reducing
vibrations of machine with some technique
d.
None
of the above
Ans: d
27.
___________ is a person who has completed the
18 years.
Ans:
Adult
28.
____________ is a person who has completed his
15th year of age but not completed 18th year of age.
Ans:
Adolescent
29.
________
is a person who has not completed his 15th year of age
Ans:
Child
30.
Either a child or an adolescent is called as
________
Ans:
Young person
31.
___________ is electrical energy or any other
form of energy, which is not generated by human or animal agency.
Ans:
Power
32.
_____________ is any engine, motor or other
appliance, which generates or provides power
Ans:
Prime mover
33.
_______ is a person employed directly or
through any agency, whether for wages or not, in any manufacturing process or
in cleaning any part of the machinery or premises used manufacturing process or
in any other kind of work incidental, to or connected with, the manufacturing
process.
Ans:
Worker
34.
__________ of factory means the person who has
ultimate control over the affairs of the factory and where the said affairs are
entrusted to a managing agent, such agent shall be demand to be occupier of the
factory.
Ans:
Worker
35.
Following is the health provision:
Ans:
Cleanliness
36.
Taking care while working on machinery in
motion is a __________
Ans:
Safety provisions
37.
First – aid appliance is a ________
Ans:
Welfare provisions
38.
No adult worker shall be required or allowed
to work in a factory on
Ans:
Weekly holiday
39.
When
a worker works for _______ hours in a day or for more than 48 hours in any
week, he shall be entitled to wages at the rate of twice his ordinary rate of
wages
Ans:
More than 9
40.
This provision provides a further restriction
to female workers that no women shall be employed in any factory expect between
______-
Ans:
6 A.M and 7 P.M
41.
___________ is of temporary nature and the
earning capacity is reduced due to disablement is of permanent nature.
Ans:
Partial disablement
42.
__________ means such disablement whether if a
temporary or permanent nature, which incapacitates a workman, forms all work
which he was capable of performing at the time of accident resulting in such
disablement
Ans:
Partial disablement
43.
____________ includes any privilege or benefit
which is capable of being estimated in money other than a traveling allowance
or any other contributions paid towards pension etc
Ans:
Wages
44.
_____ means any person who is employed in any
such capacity specified
in
schedule II on monthly wages.
Ans:
Workman
45.
Meaning of _______ is a Window, a minor son ,
a widow mother
Ans:
Dependant
46.
_____ person whose age is below 18 years
Ans:
Minor
47.
Minimum wages need to be paid in the
____________
Ans:
Cash
[ Additional Questions 4. Industrial Safety and
Legislative Acts ]
1.
Accident
is
a.
Unfortunate
b.
Mishappening
c.
Sudden
d.
All
of the above
2.
Which
is not included in the cause of accident due to worker?
Ans:
Poor housekeeping
3.
Which
is not included in the cause of accident due to management?
Ans:
Bad habits of worker
4.
Who
can be responsible for accident
a.
Worker
b.
Management
c.
Working
conditions
d.
All
of the above
5.
Who
is responsible for “unguarded moving parts”?
Ans:
Management
6.
Which
is not included in the causes of accidents due to ‘Unsafe Working Conditions’?
Ans:
Quarrels of workers
7.
Which
is not included in the ‘causes of accidents’ due to nature?
Ans:
Gas leakage
8.
Who gets affected directly or indirectly due
to accidents?
a.
Worker
b.
Industry
c.
Family
of worker
d.
All
9.
Which
is not the ‘effect of accident on worker’
Ans:
Production stoppage
10.
If affected worker is recovered within 10
hours, then which type of accident is it?
Ans:
Minor
11.
What happens in fatal accident?
Ans:
Death
12.
Injury after accident disables the affected
worker forever is ____ accident
Ans:
Permanent
13.
Internal accident means
Ans:
Injury without showing external signs
14.
Which preventive measure industry should take
to avoid accidents?
a.
Safety
provisions
b.
Training
for safe working
c.
Safety
devices
d.
All
of the above
15.
Industrial Acts are useful for
a.
Guarantee
of employee welfare
b.
Provision
of legal platform
c.
Removes
extortion of workers
d.
All
of the above
16.
Indian Factory Act is passed in
Ans:
1948
17.
Major amendments done in Factory Act in
Ans:
1976
18.
Adolescent is a person of the age between
Ans:
15-18 years
19.
Child is a person of the age
Ans:
less than 15 years
20.
Calendar year as per Factory Act is
Ans:
1st January to 31 December
21.
Day as per Factory Act is
a.
6
a.m to 6 p.m
b.
Period
of 12 hours
c.
Periods
between 2 midnights
d.
None
of the above
22.
Week as per Factory Act is periods between two
Ans:
Saturdays
23.
Factory using power as per Factory Act is a
premise of minimum
Ans:
10 workers
24.
A Labour Welfare Officer is appointed in the
factory as per Factory Act when there are minimum _______ workers
Ans:
500
25.
Rights of Labour Welfare Officer are given to
Ans:
State Government
26.
As per Factory Act painting should be done
Ans:
Once a year
27.
As per Factory Act, space required for a water
is _____ Cu feet
Ans:
500
28.
Drinking water must be away from latrine by
____ meters
Ans:
6
29.
As per Factory Act, one box of First Aid is
provided for _______ workers.
Ans:
150
30.
One ambulance room should be provided in a
factory employing more than ____
workers.
Ans:
300
31.
One canteen should be provided at least per
_____ workers in a factory
Ans:
250
32.
Creches should be provided at least per ____
workers in a factory
Ans:
30,6
33.
Workman’s Compensation Act is passed in
Ans:
1924
34.
Who is incorrect person in the definition of
Dependent?
Ans:
Friend
35.
Compensation is not extended to _______ under
Workman’s Compensation Act
a.
Workers
covered under ESI Act
b.
Casual
workers
c.
Wilful
disobedience
d.
All
the above
36.
Employer has to do compensation under which
case
a.
Injury
caused during employment
b.
Injury
caused by accident
c.
Any
disablement/death after accident
d.
All
the above
37.
Minimum wages act is passes in
Ans:
1948
38.
Which is not included in “Wage” under Minimum
Wgaes Act?
a.
Travelling
allowance
b.
PF
c.
Gratuity
d.
All
39.
“Advisory Board” concerned with ‘Minimum
Wages Act’ is appointed by
Ans:
Appropriate Government
40.
Minimum wages which are fixed are declared by
Government through
Ans:
Official gazette
5. Financial
management
Q1. ----- can be defined
as it that administrative area or set of administrative function in an
organization which relate with arrangement of
cash and credit ,so that organization matters their means to carry out
its objectives as satisfactorily as possible .
(a) Finance
(b) Capital
(c) Budget
(d) VAT
Q2. According to F.W Paich ----
can be defined as the provision
of money at the time it is wanted.
(a)Finance
(b)Capital
(c)Budget
(d)VAT
Q3. Financial activities
are -------
(a)Planning
(b)
budgeting
(c)
Raising
(d)
All of the above
Q4. objectives of
financial management:
(a) TO raise the funds
(b) To allocate funds
properly
(c) To reduce the
misuse of funds
(d) All of the above
Q5. objectives of
financial management:
(a) TO maximize the
profit in long run
(b) To maximize the
wealth of company
(c) To fulfill the
social responsibility
(d) All of the above
Q6. Function of financial
management :
(a) Understanding and
estimation of capital requirements
(b) Determination of
capital composition
(c) Choosing soursse
of funds
(d) All of the above
Q7. Function of financial
management
(a) Allocation of
funds
(b) Investment of
funds
(c) Disposal of
surplus
(d) All of the above
Q8. ----- is the
life-blood of a business enterprise it is a universal lubricant which keeps
enterprise dynamic.
(a) Finance
(b) Capital
(c) Budget
(d) VAT
Q9. ------ can be defined
as goods or cash used (invested) to generate income from business or property
(that can give income)
(a) Finance
(b) Capital
(c) Budget
(d) VAT
Q10. ------ develops
products, keeps workers and machines at work , encourage management to
make progress and create value
(a) Finance
(b) Capital
(c) Budget
(d) VAT
Q11. ------ can be defined as asset or capital
investment that is needed to start up and run the business
(a) Gross working
capital
(b) Net working
capital
(c) Permanent working
capital
(d) Fixed capital
Q12. Types of working
capital
(a) Gross working
capital
(b) Net working
capital
(c) Permanent working
capital
(d) All of the above
Q13. ------ is used for
all the current assets (possessions or property)
(a) Gross working
capital
(b) Net working
capital
(c) Permanent working
capital
(d) Temporary working
capital
Q14. ------ = Total current assets - Total current
liabilities
(a) Gross working
capital
(b) Net working
capital
(c) Permanent working
capital
(d) Temporary working
capital
Q15. ----- capital is
that amount of capital which must be in each or current assets for continuing
the activates of business
(a) Gross working
(b) Net working
(c) Permanent working
(d) Temporary working
Q16. ------ is required few times .
(a) Gross working
capital
(b) Net working
capital
(c) Permanent working
capital
(d) Temporary working
capital
Q17. internal sources are
:
(a) Ratined earnings
(b) Depreciation provisions
(c) Deferred taxation
(d) All of the above
Q18. ------ is the percentage of net earnings which is
not paid out as dividends , but retained or kept by the company for reinvesting
it for core business or to pay debt .
(a) Retained earning
(b) Depreciation
provisions
(c) Deferred taxation
(d) All of the above
Q19. Examples of retained
earnings are:
(a) Buying new machinery
(b) Doing research
(c) Development
(d) All of the above
Q20. The ----- is an accountings and a taxation term
(a) Retained Earnings
(b) Depreciation
provisions
(c) Deferred taxation
(d) All of the above
Q21. For big industries , the amount of ------- is very large
(a) Retained Earnings
(b) Depreciation
provisions
(c) Deferred taxation
(d) All of the above
Q22. There are investment earnings like interest ,
dividends or capital gain etc. which are
gathered tax free until the investor withdraws and takes possession of it .
these are known as -------
(a) Retained Earnings
(b) Depreciation
provisions
(c) Deferred taxation
(d) All of the above
Q23. ------- is one more source of capital where the
person uses his/her own funds from different
source like savings , investments in share market, mutual funds , fixed deposits
(a) Retained Earnings
(b) Depreciation
provisions
(c) Deferred taxation
(d) Personal funds saved or inherited
Q24. External source are -------
(a) Permanent or long
term sources of capital
(b) Medium - term
sources of capital
(c) Short- term source
capital
(d) All of the above
Q25. ------ plays important role in the company it
is capable of satisfying the capital requirements of a company
(a) Permanent or long
term sources of capital
(b) Medium - term
sources of capital
(c) Short- term source
capital
(d) All of the above
Q26. ------ are the
important source of the finance bank offers different types of loans to the
companies for the growth
(a) Bank loans
(b) Hire purchase
(c) Sale and lease
back
(d) All of the above
Q27. ----- is a method of
buying goods by making installments payments over the period of time
(a) Bank loans
(b) Hire purchase
(c) Sale and lease
back
(d) All of the above
Q28. ------ is an
arrangement in which one party sells its property to a buyer party and the
buyer immediately leases that property back to the sellers.
(a) Bank loans
(b) Hire purchase
(c) Sale and lease
back
(d) All of the above
Q29. The term ------ means a loan in which the lender buys and
owns equipment and then rents those equipment’s it to a business at some flat
monthly rate for particular period or certain numbers months
(a) Bank loans
(b) Hire purchase
(c) Equipment leasing
(d) All of the
above
Q30. when foreign
investors does huge sell of stocks back
to its own country it is referred as --------
(a) Bank loans
(b) Hire purchase
(c) Equipment leasing
(d) Profit flow back
Q31. Features of short
term sources of capital are as follow:
(a) They are short
term
(b) Mainly used for
working capital
(c) Can be used for
current assists like inventories
(d) All of the above
Q32. ---------- is an
agreement in which customer can purchase goods on account that is without
paying cash or paying the supplier at a
later date .
(a) Credit facilities
(b) Trade credit
(c) Shares
(d) Debentures
Q33. A ------- is an
instrument of management used as an aid inn the planning , programming and
control of business activity .
(a) Finance
(b) Capital
(c) Budget
(d) VAT
Q34. Types of budgets:
(a) Fixed budget
(b) Variable budget
(c) Functional budget
(d) All of the above
Q35. A -------- or static
budget shows one plan ,one volume of output or sales and the related fixed
costs .
(a) Fixed budget
(b) Variable budget
(c) Functional budget
(d) All of the above
Q36. the ------- depends
upon the ability to perfect income ,sales or shipments with at least a no
provision in made for any changes may
occurs during period .
(a) Fixed budget
(b) Variable budget
(c) Functional budget
(d) All of the above
Q37. -------- serves a
valuable purpose in the planning and
control a certain fixed types of expenditures ,e.g. ,a research project , hospitals schools and colleges etc.
.
(a) Fixed budget
(b) Variable budget
(c) Functional budget
(d) All of the above
Q38. A ------- or
flexible budget recognizes the unreliability of income or sales predictions and
makes provisions in advance for
variations inn productions and expenditures in accordance with variations in
sales .
(a) Fixed budget
(b) Variable budget
(c) Functional budget
(d) All of the above
Q39. ------- takes in account only those cost e.g.
direct labor and material which vary
with output and over which the department
has control
(a) Fixed budget
(b) Variable budget
(c) Functional budget
(d) All of the above
Q40. A --------- is one which relates to any of
the functions of an undertaking e.g. sales productions, cash etc.
(a) Fixed budget
(b) Variable budget
(c) Functional budget
(d) All of the above
Q41. The frequently used
functional budget are:
(a) Sales budget
(b) Production and
manufacturing budget
(c) Capital
expenditure budget
(d) All of the above
Q42. The frequently used
function budgets are:
(a) Material and
purchase budget
(b) Direct labor
budget
(c) Capital
expenditure budget
(d) All of the above
Q43. Production budget is based upon:
(a) Sales budget
(b) Factory capacity
(production and storage )
(c) Budgeted stock
requirements
(d) All of the above
Q44. Manufacturing budget
need the following basis budgets or estimates to meet the plan:
(a) Production budget
outlining the schedule of product units
to be manufactured
(b) Direct material
budget
(c) Plant (space) and
equipment budget.
(d) All of the above
Q45. Manufacturing budget need the following basis
budgets or estimates to meet the plan:
(a) Maintenance budget
(b) Manufacturing
expense budget (overhead)
(c) Labor budget
(d) All of the above
Q46. Labor requirement are determined as follows:
(a) Split the product
into operations
(b) Using work study
calculates the standard time for each operation
(c) From work study
calculate total number of hours required for production
(d) All of the above
Q47. ------- are the expense that incurs after
production of goods
(a) Indirect expenses
(b) Indirect income
(c) Profit
(d) Loss
Q48. These types of
expenses are
(a) Financial expenses
(b) Selling
(c) Distribution
expenses
(d) All of the above
Q49. ------ is referred
as income that is receives from other source and non trading income like
commission, discount received , interest received on investment and deposit,
rent etc.
(a) Indirect expenses
(b) Indirect income
(c) Profit
(d) Loss
Q50. important
terminologies related to profit and loss account :
(a) Opening stock
(b) Purchases
(c) Sales
(d) All of the above
Q51. important terminologies related to profit and
loss account :
(a) Office and administrative expenses
(b) Selling and
distribution expenses
(c) Financial expenses
(d) All of the above
Q52. important terminologies related to profit and
loss account :
(a) Depreciation and
maintenance charges
(b) Abnormal losses
(c) Indirect incomes
and gains
(d) All of the above
Q53. The stock of goods
in hand at the beginning of the year is called as ------
(a) Opening stock
(b) Purchases sales
(c) Office
(d) Administrative
expenses
Q54. ------- are the term used to indicate purchases made
during the year for the purpose of sale when goods purchased are returned is
referred as purchase return
(a) Opening stock
(b) Purchases
(c) Sales
(d) Office
administrative expenses
Q55. ---------- indicates
the total sales in the year, when goods sold are returned are referred as sales
return.
(a) Opening stock
(b) Purchases
(c) Sales
(d) Office
administrative expenses
Q56. --------- indicates
maintenance of office administration and management of the company or organization
(a) Opening stock
(b) Purchases
(c) Sales
(d) Office
administrative expenses
Q57. Examples of office
and administrative expenses are
(a) Staff salary
(b) Stationery
(c) Printing
(d) All of the above
Q58. Examples of office
and administrative expenses are
(a) Telephone
(b) Telegram
(c) Postage
(d) All of the above
Q59. For promotion of
sales and its distributions ---------- are done
(a) Opening stock
(b) Purchases
(c) Sales
(d) Selling and
distribution expenses
Q60. -------- include
expenses like commission to salesmen , advertisement , discount given ,
carriage outward, bad debts , cost of service after sales ,rent of go down , expenses related to delivery of
material etc. .
(a) Opening stock
(b) Purchases
(c) Sales
(d) Selling and distribution expenses
Q61. -------- are expenses done for raising funds
for running business
(a) Financial expenses
(b) Purchases
(c) Sales
(d) Selling and
distribution expenses
Q62. Interest paid on loan,
interest on capital, discount on bills, bank charges, interest paid for bank OD
(over draft) are examples of ---------
(a) Financial expenses
(b) Purchases
(c) Sales
(d) Selling and
distribution expenses
Q63. -------- may occur because
of loss on sale of asset, fire or theft etc.
(a) Financial expenses
(b) Abnormal
losses
(c) Sales
(d) Selling and
distribution expenses
Q64. Incomes other than sales are called as
--------
(a) Indirect income
(b) Abnormal losses
(c) Sales
(d) Selling and
distribution expenses
Q65. --------- includes the bad debt means amount
that can not be recovered from the market it is treated as loss.
(a) Indirect incomes
(b) R.D.D account
(c) Sales
(d) Selling and
distribution expenses
Q66. The -------- can be
defined as a resource with specific economic value that an individual, corporation
or country owns or control
(a) Asset
(b) Liability
(c) Shares
(d) Debenture
Q67. -------- is defined
as a company’s legal debts or obligations which arise during the business operations
liabilities can be settled over the period of the by transferring money, goods
or services.
(a) Assets
(b) Liability
(c) Shares
(d) Debenture
Q68. A ------- Is defined
as a single unit of ownership in a corporation, mutual funds or any other types
of organization
(a) Assets
(b) Liability
(c) Shares
(d) Debenture
Q69. -------- can be
defined as an unsecured loan certificate issued by a company which is backed by
general credit instead by specified assets
(a) Assets
(b) Liability
(c) Shares
(d) Debenture
Q70. ------- is defined as an accounting
record where all business transactions
are origin -ally entered or recorded
(a) Assets
(b) Liability
(c) Shares
(d) Journal
Q71. ------- is defined
as an accounting book of final entry where transactions are listed in separate
or different accounts
(a) Assets
(b) Liability
(c) Shares
(d) Journal
Q72. Direct tax examples:
(a) Flat tax
(b) Income tax
(c) Excise tax
(d) All of the above
Q73. Indirect tax
examples:
(a) Consumption tax
(b) Sales tax
(c) Wealth tax
(d) All of the above
Q74. Types of excise duty
(a) Duties under
central excise act
(b) National calamity
contingent duty
(c) Additional duty on
goods of special importance
(d) All of the above
Q75. -------- is direct tax which is paid by
individual to the central government of India is known as income tax
(a) Direct tax
(b) Indirect tax
(c) Service tax
(d) Income tax
Q76. --------- is a form
of indirect tax imposed on specified service called “taxable services”
(a) Direct tax
(b) Indirect tax
(c) Service tax
(d) Income tax
Q77. --------- can be defined as a tax which
is paid directly by an individual or organization to the imposing entity
(a) Direct tax
(b) Indirect tax
(c) Service tax
(d) Income tax
Q78. A --------- can be
defined as the tax which increases the price of a good in such way that
consumers are actually paying the tax more for product they are buying
(a) Direct tax
(b) Indirect tax
(c) Service tax
(d) Income tax
Q79. Main heads of
incomes are:
(a) Salary
(b) House property
(c) Profit in business
/profession
(d) All of the above
Q80. ------- is a consumption
tax which is levied at each stage of production based on the value added to the
product at that stage
(a) Finance
(b) Capital
(c) Budget
(d) VAT
ADDITIONALS
5 FINANCIAL MANAGEMENT
Q1. Financial management
aims at:
ANS = (d) all of the
above (financial control, control of cash, management of earnings)
Q2 .what is the function
of financial management?
ANS = (d) all of the
above (record keeping, profit maximization, management of cash flow)
Q3. ------ is one of the
routine finance functions:
ANS = (a) safety of
document
Q4. What are the type of capitals?
ANS = (d) fixed and
working
Q5. Fixed capital is the
capital invested in assets over:
ANS = (d) none of the
above
Q6. The capital invested
in assets which can not be easily covered into money is called:
ANS = (a) Fixed capital
Q7. what is working
capital ?
ANS = (d) none of the
above
Q8 . Working capital is
required to ?
ANS = (b) pay wages
and salaries to employees
Q9. -------- is a factor influencing
requirement of fixed capital
ANS = (b) nature of business
Q10. The amount to be collected
by a company is divided in equal number of parts known as -------
ANS = (c) shares
Q11. Which one of the following
is not a type of share?
ANS = (b) fixed share
Q12. Which one of the following
is a type of preference shares?
ANS = (d) noncumulative shares
Q13. The sum that every
shareholder gets in known as:
ANS = (b) dividend
Q14. Term loans are
secured loans :
ANS = (a) true
Q15. Feature of term loan:
ANS = (d) the period
of term loans is within 3 to 10 years
Q16. What is an inter
company loan ?
ANS = (a) it is the
loan and investment between two companies.
Q17. ------- is a source of working capital
ANS = (a) loans from
commercial banks
Q18. -------- allows a
business to draw money against its sales
of goods before the customer has actually made the payment
ANS = (b) bill
discounting
Q19. ----- is a loan advance sanctioned by the bank
for a longer period
ANS = (c) clean
advance
Q20. the suppliers of goods and services to the
company provide various goods and
services with an expectation of payment in future is called ------
ANS = (a) trade credit
Q21. The utility of every
machine or equipment decreases because of wear and tear during use, the
reduction in value :
ANS = (d) deprecation
Q22. for purchasing
certain commodities , the customer has to make payment before be receives goods
is called :
ANS = (c) customer
advance
Q23. Which one of the
following is a feature of long term finance?
Ans = (a) these
financial are used for about 10 years
Q24. A plan for the
coordination of resource and expenditure:
ANS = (d) budget
Q25. In the process of
budget preparation firstly, the ------ budget is prepared
ANS = (d) master
Q26. ----- Budget
provides projections about sales of various kinds of products in different
regions
ANS = (a) sales
Q27. A sales budget is the
basis for preparation of a ------
ANS = (d) none of the
above
Q28. The production
budget provides information about product wise quantities to be produced in a
particular period these quantities helps to decide the:
ANS = (b) manpower
Q29. ------- Budget is
the projection of cash inflow and outflow for a particular time period in future.
ANS = (a) cash
Q30. Which one of the following
is not a major section in cash budget?
ANS = (d) capital
section
Q31. A planned capital investment
in the business without disrupting the normal working of the company:
ANS = (c) capital
expenditure budget
Q32. A budget which is designed to charge in
relation with the level of activity of the business
ANS = (b) variable
budget
Q33. A record of income
and expense:
ANS = (b) account
Q34. A ----- and a -----
are the two major books used to maintain accounts
ANS = (c) journal and
ledger
Q35. Every business
transaction is entered in a book known as a -------
ANS = (a) journal
Q36. Knowledge of -------
and ------- is sufficient to understand the size , scale and financial position
of a business
ANS = (a) total revenue,
not profit (loss)
Q37. A ------- Shows the
income and expenses of a business during a specific period of time
ANS = (b) profit and
loss account
Q38. Sales returned
represent value of goods returned by the -----
ANS = (b) customer
Q40. Excise duty is the amount
of duty paid on ------ of goods
ANS = ( c) excise
Q41. ------ refers to
sparing of the replacement cost of tangible assets like building, machinery
etc.
ANS = (a) deprecation
Q42. ------ refers to the
sparing of the replacement cost of intangible assets like patents
ANS = (b) amortization
Q43. The sum of all
expenses gives the:
ANS = (b) total
expenses
Q44. An example of extraordinary
item:
ANS = (b) loss due to
manmade disaster
Q45. Tax includes the current
tax as well as ------- tax
ANS = (d) deferred
Q46. in P and L net
profit is given by :
ANS = (d) none of the
above
Q47. the ratio of (net
profit - preferred dividend) to number of shares outstanding is
ANS = (a) earning per
share
Q48.the diluted EPS is
------ than the EPS
ANS = (b) smaller
Q49. The balance sheet
shows liabilities and assets of the ------
ANS = (b) company
Q50. ------- represent
what the company has to pay to others
ANS= (a) liabilities
Q51. According to which Act,
a business is required to prepare balance sheet?
ANS = (a) companies
act
Q52. Which one of the
following is not a current liabilities?
ANS = (d) long term
borrowings
Q53. The term reserves is
related to :
ANS = (d) balance
sheet
Q54. -------- are the resource
of a company
ANS = (d) assets
Q55. Which one of the
following is a current asset?
ANS = (b) trade
receivable
Q56. --------- is an involuntary
fee imposed by the government on a product, income or activity
ANS = (b) tax
Q57. what are the types
of taxes ?
ANS = (c ) direct and
indirect
Q58. ------ is a type of
tax
ANs = ( c) indirect
tax
Q59.the tax that is
charged on the personal or corporates income is :
ANS = (b) direct tax
Q60. Which one of the
these is not a tax charged by the central government ?
ANS = (d) stamp duty
Q61. Which one of the is not a tax charged by the
state government?
ANS = (a) income tax
Q62. Which one of the is
a tax collected by local bodies?
ANS = (a) tax on
market
Q63. An indirect tax
levied on all goods manufactured:
ANS = ( c) excise tax
Q64. -------- Tax is an
annual direct tax
ANS = (a) income
Q65. --------- Duty is a
tax levied on goods imported into the country as well as on goods exported out
of the country
ANS = (a) custom duty
Q66. Which one of the following is not a type of
custom duty?
ANS = (d) dumping duty
Q67. Service tax is applicable
to the whole of India except the state:
ANS = (c) Jammu and Kashmir
Q68. The current effective
service tax rate is:
ANS = (b) 12%
Q69. In which year the
value added tax was introduced?
ANS = (b) 2005
Q70.basic import duty in
the range of ------- to ------ is levied on all kinds of goods.
ANS = (c) 5-40%
Q71.protective duty is to
protect the interest of Indian ------
ANS = (a) industry
Q72. Costs which are
independent of volume of production
ANS = (b) fixed cost
Q73.Expenses on ------ is
not an example of overheads:
ANS = (d) salary
Q75. ------ is not an
objective of budgetary control?
ANS = (d) to finance
the business
Q76. Budget are prepared
for ------- period of time
ANS = (a) definite
Q77. When the company has
confirmed export order and is in need of finance, the banks provide short term credit.
It is known as:
ANS = (c) export
finance
6
Material Management
Q1. What function or
functions are involved in material management?
(a) Planning
(b) Warehousing
(c) Storage management
(d) All of the
above
Q2. --------- is a part
of materials management.
(a) Inventory
management
(b) Marketing
management
(c) Both (a) and (b)
(d) None
Q3. --------- can be
defined as an attempted to balance inventory needs and requirement with the
need to minimize costs resulting from obtaining and holding inventory
(a) Finance management
(b) Marketing
management
(c) Inventory
management
(d) None
Q4. Which is the function
of inventory ?
(a) Minimize the lead
time
(b) Up-to-date and
accurate record keeping
(c) Both (a) and (b)
(d) None
Q5. ----- include raw
material and semi finished products supplied by another firm and which are raw
item for the present industry
(a) Raw inventories
(b) In-process
inventories
(c) Finished
inventories
(d) Indirect
inventories
Q6. -------- involves
semi-finished goods at various stage of manufacturing cycle
(a) Raw inventories
(b) In-progress
inventories
(c) Finished
inventories
(d) Indirect
inventories
Q7. --------- are the
finished goods lying in stock rooms and waiting dispatch
(a) Raw inventories
(b) In-progress
inventories
(c) Finished
inventories
(d) Indirect
inventories
Q8. ---------- includes
lubricants and other items needed for proper operation
(a) Raw inventories
(b) In-progress
inventories
(c) Finished
inventories
(d) Indirect
inventories
Q9. ABC analysis plays a
vital role in ---------- management
(a) Finance
(b) Inventory
(c) Both (a) and (b)
correct
(d) Both (a) and (b)
wrong
Q10. ‘A’ type of item are
generally ----------- of all inventories
(a) 20%
(b) 30%
(c) 50%
(d) 80%
Q11.’C’ type of item of inventories
are generally ------- of all inventories
(a) 20%
(b) 30%
(c) 50%
(d) 80%
Q12. which is the first
step in doing ABC analysis ?
(a) Arranging the item
(b) Determine unit
price
(c) Preparing the list
of all item
(d) None
Q13. Advantage of ABC
analysis -----------
(a) Inventory analysis
(b) Record keeping
become easy
(c) Stock levels can
be maintained properly
(d) All of these
Q14.Disadvantage of ABC
analysis ---------
(a) ABC analysis has
to be done in a standard way otherwise it does not serve the purpose
(b) Moving and non
moving items can be easily identified
(c) Record keeping
becomes easy
(d) Both (a) and (b)
Q15. EQQ stands for
-----------
(a) Economic order
quantity
(b) Economic order
quality
(c) Economic orders
quality
(d) None
Q16. ---------- is one
which allows lowest cost per unit and is most advantageous
(a) Economic order
quality
(b) Economic order
quantity
(c) Economic order
quality
(d) None
Q17. what is an assumption
in EQQ ?
(a) Lead time is known
and is constant
(b) Total cost
(c) Primary cost
(d) All of these
Q18. -------- avoid
effect like price fluctuations and shortage of material in the market
(a) Buffer stock
(b) EQQ
(c) Both (a) and (b)
(d) None
Q19.
Advantages of EQQ ---------
(a) EQQ avoid running
cost of stock
(b) Inventory
maintenance cost is reduced
(c) If the cost of
product is reduced then EQQ is not applicable
(d) EQQ does not
support longer lead time
Q20. Disadvantage of EQQ
---------
(a) Unnecessary
storage of the raw material is avoided
(b) EQQ does not
support if interest rates go up
(c) EQQ does not
support longer lead time
(d) Both (a) and (b)
Q21. EQQ does not work
if -------- order quantity is compulsory
(a) Maximum
(b) Minimum
(c) Smaller
(d) None
Q22. ------- function
can be defined as procuring different
types of material for an organization from different source
(a) Purchasing
(b) Purchase order
(c) Purchase
department
(d) All of the above
Q23. the purchasing function plays the role of mediator between
--------- and ---------- for purchase of material
(a) Vendor, control
(b) Organization
,control
(c) Vendor,
organization
(d) Organization,
vendors
Q24. the role of purchase
department is vital because ---------
(a) Purchase
department issues payments to the vendors
(b) Material required
for running organization is purchased by the purchase department
(c) The department
which needs material sends material receipt to purchase department
(d) All of the above
Q25. which is the first
step in purchasing ?
(a) Maintenance of
record and files
(b) Issuing the
purchase order
(c) Making request for
quotations
(d) Analysis of
purchase requisition
Q26. the objectives of
the purchasing -----------
(a) To procure or
store right material
(b) To store material
from right and reliable supplier
(c) Preparation of
purchasing budget
(d) Both (a) and (b)
Q27. the important
functions/duties of purchasing department/ management are ---------
(a) Preparation of
purchasing budget
(b) Track pending
purchase order
(c) Issue and follow
up purchase order
(d) All of these
Q28.--------- is set of
activities that ensure right material at right quality and quantity in right
time
(a) Procurement
(b) Purchasing
(c) Purchasing
department
(d) None
Q29.procurement activity is -------- and takes
more time
(a) Simple
(b) Complicated
(c) Difficult
(d) None
Q30. ---------- is an
intelligent activity includes decision making , selection of vendors etc.
(a) Purchasing
(b) Purchasing
department
(c) Procurement
(d) Purchase order
Q31. -------- is just a transaction and is basic
activity
(a) Purchasing
(b) Purchasing
department
(c) Procurement
(d) Purchase order
Q32. MRP means
-----------
(a) Material
requirement process
(b) Material
requirement planning
(c) Material required
planning
(d) Material resource
planning
Q33. ERP means --------
(a) Enterprise
resource planning
(b) Enterprise
resource planning
(c) Enterprise
resource process
(d) None
Q34. the major purpose of
MRP ------
(a) Components and
required raw material are available in right quantities at right time
(b) Material resource
planning is all about management of resource required for production
(c) Both (a) and (b)
(d) None
Q35. the major advantage
of MRP is ---------
(a) Frequent material
shortage
(b) Conflicts among
employees
(c) Minimizing
unnecessary inventory investment
(d) High investment in
unnecessary inventory
Q36. For staffing ,
inventory, production etc. Company develops and design a plan called as
----------
(a) MPS
(b) MRP
(c) EPS
(d) ERP
Q37. the input to MRP are
---------
(a) The major
production schedule and order data
(b) The bill-of
material file
(c) The inventory
record file
(d) All of the above
Q38. -------- is a plan
that future production of end of product
(a) MRP
(b) MPS
(c) ERP
(d) None
Q39. ---------- is made
up of list the sub assemblies as well as components that makes up the end
product
(a) Master production
schedule
(b) Inventory record
file
(c) Bill-of- material
(d) Material resource
planning
Q40. inventory record
file also called as -------
(a) Item master file
(b) Inventory record
file
(c) Bill-of-material
file
(d) None
Q41. benefits of MRP
-----------
(a) Reduced
unnecessary inventory
(b) Avoids material
shortage
(c) Greater
productivity
(d) All of these
Q42. -------- can be
defined as an integrated information system that serves all department with in
an enterprise
(a) MRP
(b) MPR
(c) ERP
(d) EPR
Q43. application of ERP
are -----------
(a) SAP
(b) Tally ERP
(c) MRP
(d) Both (a) and (b)
Q44. Advantages of ERP
are ------------
(a) A unified and
single reporting system
(b) It is very complex
(c) ERP exports are
not easily available
(d) None
Q45. the SAP ERP product
is very popular for material management called as --------
(a) Material
requirement planning
(b) Enterprise
resource planning
(c) Material resource
planning
(d) Material
management module
Q46. Disadvantages of ERP
are ----------
(a) Centralized data
storage
(b) It is very complex
(c) A unified and
single reporting system
(d) ERP is modular
software
Q47. module in ERP are
----------
(a) Human resource
(b) Purchase
(c) Both (a) and (b)
(d) None
Q48. sales and marketing
is module of --------
(a) ERP
(b) MRP
(c) MPR
(d) None
Additional
Material management
Q1.what are the function
of materials management
ANS = (d) all of those
(material planning , purchasing , store management)
Q2. what are the various
costs involved in material management
ANS = (d) both (a) and
(b) (procurement cost, total cost )
Q3. a well coordinated
material management programmer may result into
ANS =(c) cost
reduction
Q4. material handling
cost means :
ANS = (d) cost of handling material
Q5. freight cost means
ANS = ( c) cost
required for movement of material
Q6. what is the basic
cost of material :
ANS = (a) cost to be
paid to supplier
Q7. inventory control
means timely available of all kind of material
ANS = (a) true
Q8 . market research is
necessary for
ANS = (b) information
about market condition and available of material
Q9. packaging cost means
ANS = (a) cost of
packaging of goods
Q10. what do you mean by insurance cost
ANS =(a) cost of
insurance of goods while they are in transit
Q11. material management
is used to maintain steady flow of material for uninterrupted production
ANS = (b) true
Q12. inventory control
means :
ANS = (d) all of the above ( timely available of
material , value analysis of costly material ,availability of material at low
cost )
Q13. store management refers
to conservation of material in stores
ANS = (a) true
Q14. evaluation and
development of reliable suppliers is a function of :
ANS = (a) material
management
Q15. material planning is
based on data from :
ANS = (a) sales
department
Q16. a detailed list of all kind of goods handled
by business :
ANS = (c) inventory
Q17. finished goods means
goods waiting for dispatch to :
ANS = (a) customer
Q18. raw material
includes
ANS = (d) all of these
(semi finished components , material an stores , sub assemblies )
Q19. what do you mean by
finished part ?
ANS = (a)
part which is ready to dispatch to customer
Q20. work in progress is
term used for all material at various machine on shop floor
ANS = (a) correct
Q21. inventory consist of
ANS = (d) all of these
(raw material , indirect material , work in progress )
Q22. excess lavatory may
lead to
ANS = (b) loss
Q23. excess inventory
needs
ANS = (a) more funds
Q24. tools lubricants
cutting fluids are :
ANS = (a) indirect
material
Q25. objectives of
inventory management includes
ANS = (d) all of these
( financial objectives , property protection objectives, operational objectives
)
Q26. ABC analysis helps
senior manager to control :
ANS = (a) inventory
cost
Q27. which one of the
following are an insignificant item :
ANS = (c ) C item
Q28. which are the most important items :
ANS = (a) A items
Q29. which one of the
following is incorrect about ‘A’ items
ANS = (d)
insignificant item
Q30. which statement is
correct for ‘C’ items
ANS = ( c) both (a) and (b) (value analysis is
not required , insignificant item )
Q31. correct statements
about ‘B’ items
ANS = (d) all of these
( less controlled inventory control system , important items, monthly
controlled items )
Q32. Advantages of ABC
analysis :
ANS = ( c) both (a)
and (b) (the system is easy to understand , provides tool to decide frequency
of purchasing )
Q33. ------- helps
managers to have selective control and focus attention only on important items
ANS = (a) ABC analysis
Q34. ABC provides a tool
to decide frequency of purchasing
ANS = (a ) true
Q35. Limitation of ABC
analysis seasonal variation of cost have no consideration in the analysis :
ANS = (a) true
Q36. what do you mean by
services to customer :
ANS = ( c) prompt
supply of finished parts to customer
Q37. too little inventory increases the risk of :
ANS = (a ) out of
stock condition
Q38. ‘A’ class of items
have ----- % of total consumption cost
ANS = (c ) 40 to 50 %
Q39. ‘C’ class of items
have ------- % of total consumption cost
ANS = (C )5 to15
Q40. annual ------- cost
= unit price x annual consumption volume
ANS = ( a) consumption
Q41. first step in
preparation of ABC analysis is :
ANS = (a) preparation of list of all items
Q42. ‘A’ class items are
------ % of the total number of items
ANS = (a) 10-20
Q43. ‘C’ class item
are ------ % of total number of items
ANS = ( C) 65-75
Q44. economic order
quantity provides the ------- number of units to order
ANS = (c ) optimum
Q45. EQQ means economic
order quantity
ANS = (a ) true
Q46. various costs
associated with ordering and receiving goods :
ANS = (a)
procurement cost
Q47. holdings cost is
also known as :
ANS = (b) carrying
cost
Q48. procurement cost is
obtained by plotting -------- against ordered quantity
ANS = (a) cost
Q49. purchasing is one of
the function of --------- management
ANS = (b) material
Q50. --------means
procuring goods and services
ANS = (a) purchasing
Q51. the long form of DOL
is
ANS = (b) direct on
line
Q52. the --------- provides the information about when
order and how much to order
ANS = (a) MRP
Q53. while on long tour which are the items that we take most
care of ? certainly , it is the jewelry and cash ? ….. this could be an analogy
to :
ANS = (b) ABC analysis
Q54. ------- is
relationship between demand for one item and demand dor higher level assembly
ANS = (a) dependent
demand
Q55. An example of an
item of independent demand :
ANS = (b) tools
Q56. one of the function
of MRP
ANS = (d) all of the
above (reducing waste , economy in buying)
Q57. an example of input
to MRP :
ANS = (d) all of the
above (production schedule, inventory control, bill of material )
Q58. the expenses on
travelling may be an element of ------- cost
ANS = (b) fixed
Q59.the list of
components that make up a final product
:
ANS = (a) bill of
material
Q60. master production
schedule is prepared from :
ANS = (d) none of the above
Q61. --------
department floats enquiries and
processes quantitation
ANs = (b) purchase
Q62. Which one of the
following is not a benefit of MRP
ANS = (d) all of the
above (save time , saves cost , gives production schedule )
Q63. Which one is
incorrect regarding to MRP :
ANS = (C) provides
standard
Q64. ERP stands for
ANS = (b) enterprise resource
planning
Q65. ------- is an integrated
system to manage business
ANS = (a) ERP
Q66. Which one of the
following can be an ERP module ?
ANS = (d) all of the
above (human resource , sales and marketing , finance )