Multiple Choice Questions (MCQs)

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1   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.
    (A)   Proprietorship
    (B)   Partnership
    (C)   Private Limited
    (D)   Public Limited

2   Flood, Earthquake, Tsunami are
    (A)   Accidents because of workers
    (B)   Accidents because of management
    (C)   Accidents due to layout or design of working place
    (D)   Accidents because of natural disasters

3   Which is the health provision
    (A)   Fencing of machinery
    (B)   Cleanliness
    (C)   Washing facilities
    (D)   None of the above

4   Which is an instrument of management used as aid in the planning, programming and control of business activity
    (A)   Finance
    (B)   Capital
    (C)   Budget
    (D)   VAT

5   A single unit of ownership in a corporation, mutual fund or any other type of organization is called
    (A)   Asset
    (B)   Liability
    (C)   Share
    (D)   Debenture

6   Indirect Tax examples
    (A)   Consumption Tax
    (B)   Sales Tax
    (C)   Wealth Tax
    (D)   All of above

7   Which includes expenses like commission to salesman, advertisement, discount given, carriage outward, bad debit, cost of service after sale, rent of go down, expenses related to delivery of material etc.
    (A)   Opening stock
    (B)   Purchases
    (C)   Sales
    (D)   Selling and distribution expenses

8   The role of purchase department is vital because
    (A)   Purchase department issues payment to the vendors
    (B)   running organization is purchased by the purchase department.
    (C)   The department which needs material sends material receipt note to purchase department
    (D)   All of these

9   ISO 9001:2000 is
    (A)   Quality circle standard
    (B)   Quality standard
    (C)   Quality management system standard
    (D)   Quality assurance standard

10   In textile industry fiber is converted into ……
    (A)   Fabric
    (B)   Cloth
    (C)   Yarn
    (D)   Fiber

11   The organized efforts by certain persons, to Supply the consumers with goods and services is called —–
    (A)   Trade
    (B)   organization
    (C)   Management
    (D)   Business

12   A…. is any achievement of the end point that is stated in quantitative term.
    (A)   Policy
    (B)   Goal
    (C)   Objective
    (D)   Mission

13   To set objectives and policies of the organization is function of……….
    (A)   R& D Manager
    (B)   Engineers
    (C)   General Managers
    (D)   None of these

14   Conceptual and human needs is related to………
    (A)   Administration
    (B)   Management
    (C)   Science
    (D)   Technic

15   Out of following which is not the principles of management
    (A)   Centralization of Authority
    (B)   Scalar Chain
    (C)   Order
    (D)   None of these

16   The process by which actual performance of subordinates is guided towards common goal of the enterprise is call ……
    (A)   Organization
    (B)   Unity of command
    (C)   Directing
    (D)   Planning

17   …………………is the process of operations, verify conformity with the predetermined plan and takes corrective action
    (A)   Coordinating
    (B)   Forecasting
    (C)   organizing
    (D)   Controlling

18   Identify which statement is correct related to organization Theory Organization theory may be defines as the study of 1. Functioning 2. Performance of organization 3. Structure 4. The behavior of Group
    (A)   Both 2 & 4
    (B)   Both 1 &3
    (C)   All the above
    (D)   None of these

19   Following diagram represents which organization?
    (A)   Line organization
    (B)   Line & staff organization
    (C)   Functional organization
    (D)   Project organization

20   It is the process which is used to group the activities of the enterprise into various division for the purpose of the efficient management.
    (A)   Organization
    (B)   Departmentation
    (C)   Administration
    (D)   Span of Control

21   Sahkari Bhandar is ……. Types of ownership
    (A)   Government
    (B)   Cooperative
    (C)   Joint stack
    (D)   Public limited

22   The accident which leads to death of a victim is called …….
    (A)   Fatal Accident
    (B)   Accident causing internal
    (C)   Minor Accident
    (D)   Major Accident

23   As per Worker’s Compensation act, dependent means:
    (A)   A widow
    (B)   A minor legitimate Son
    (C)   A widowed mother
    (D)   All the above

24   Which is not element of financial management
    (A)   Financial planning
    (B)   Financial Control
    (C)   Financial Decision -Making
    (D)   None of the above

25   Depreciation provision is which type Source of finance?
    (A)   Internal Source
    (B)   External Source
    (C)   Medium Term Source
    (D)   Short Term Source

26   ……– is a direct tax levied on the income earned by individuals, corporations or on other forms of business entities.
    (A)   Excise Duty
    (B)   Sale Tax
    (C)   Income Tax
    (D)   Service Tax

27   Anti-Dumping Duty is which type of Tax?
    (A)   Excise Duty
    (B)   Sales Tax
    (C)   Custom Duty
    (D)   Service Tax

28   Which of the following is not input to MRP?
    (A)   ERP
    (B)   BOM
    (C)   Inventory record file
    (D)   MPS

29   basis of customer’s preference, cost and profit is a function of…………………….
    (A)   Quality management
    (B)   Material Management
    (C)   Production Management
    (D)   Inventory Management

30   Work out product requirements in details and set product specifications on the basis of customer preference, cost and profit is a function of ………………
    (A)   Inventory management
    (B)   Quality management
    (C)   Production management
    (D)   Material Management

31   1. Customer Focus 2. Leadership 3. Continual improvement 4. System Approach to Management 5. Mutually beneficial Supplier relationship 6. Process approach7. Factual approach to decision making 8. People involvement It is principles of………………….
    (A)   5S
    (B)   ISO9001:2000
    (C)   Kaizen
    (D)   TQM

32   —– can be defined as an unsecured loan certificate issued by a company which is backed by general credit instead by specified assets.
    (A)   Asset
    (B)   Liability
    (C)   Share
    (D)   Debenture

33   —– is method of buying goods by making installment payments over the period of time.
    (A)   Bank loan
    (B)   Hire purchase
    (C)   Sale & lease back
    (D)   All of Above

34   —– includes the bad debt means amount that cannot be recovered from market. It is treated as a loss.
    (A)   Indirect income
    (B)   R.D.D account
    (C)   Sales
    (D)   Selling & distribution expenses

35   —– assists in taking decision correctly & also implementing it effectively &efficiently
    (A)   Direct Tax
    (B)   Indirect Tax
    (C)   Service Tax
    (D)   Income Tax

36   Which of the following is not included in the causes of accidents under natural disaster?
    (A)   floods
    (B)   heavy rains
    (C)   tsunami
    (D)   gas leakage

37   —– is a temporary in nature & the earning capacity is reduced due to
    (A)   Partial disablement
    (B)   Total disablement
    (C)   both (option I) & (option II)
    (D)   None of above

38   Taking care while working on machinery in motion is a —–
    (A)   Health provision
    (B)   Safety provision
    (C)   Welfare provision
    (D)   None of the above

39   First -aid appliance in industry comes under.
    (A)   Health provisions
    (B)   Safety provisions
    (C)   Welfare provisions
    (D)   precautions

40   Absence of —– in units will lead to failure in achieving organizational goal.
    (A)   Communication
    (B)   Balance
    (C)   Flexibility
    (D)   All of the above

41   —– is generally from lowest grade employee to the top executives
    (A)   Downward communication
    (B)   Upward communication
    (C)   horizontal communication
    (D)   Unofficial communication

42   —– act of simulating or inspiring workers
    (A)   Planning
    (B)   Controlling
    (C)   Directing
    (D)   Motivation

43   FTA stands for —–
    (A)   Financial Transfer Arrival
    (B)   Foreign Transfer Arrival
    (C)   Foreign Tourist Arrival
    (D)   Foreign Tourist

44   The rates at which the excise duty to be collected are specified in the Central Excise Tariff Act —–
    (A)   1944
    (B)   1948
    (C)   1985
    (D)   1946

45   —– can be defined as an integrated information system that serves all departments within an enterprise.
    (A)   MRP
    (B)   MPR
    (C)   ERP
    (D)   EPR

46   —– is an intelligent activity including decision making, selection of venders
    (A)   Purchasing
    (B)   Purchasing department
    (C)   Procurement
    (D)   Purchase order

47   Suggest appropriate Quantity (%) and purchase rate in the blank spaces provided in following ABC Classification
    (A)   50, intermediate purchase
    (B)   50, infrequent
    (C)   50, Frequent
    (D)   40, frequent

48   —– defined as a statistically based process improvement methodology or
    (A)   Sigma
    (B)   Six Sigma
    (C)   DMAIC
    (D)   Systemize

49   It aims to reduce defects to a rate of defects per defect opportunity by identifying & eliminating causes of variation in business processes
    (A)   3.1, billion
    (B)   3.4, million
    (C)   3.4, thousands
    (D)   3.4, hundreds

50   In India the novel economic model came with an intension of
    (A)   Liberalization, Privatization, Globalization
    (B)   Liberate, Private, Globalization
    (C)   Liberate, Private, Global
    (D)   None of above

51   The items are produced using material with the help of different engineering processes and technologies is
    (A)   Service
    (B)   Manufacturing
    (C)   Trade
    (D)   None of above

52   Globalization increases
    (A)   Employment Opportunity
    (B)   Foreign investment
    (C)   Competition
    (D)   All of above

53   India is awarded a certification of POLIO free country by
    (A)   World Health Organization
    (B)   World Heath Center
    (C)   National Health Center
    (D)   None of above

54   The main contributor in scientific school
    (A)   Henry Fayol
    (B)   F.W. Taylor
    (C)   Gilbreth
    (D)   Juran

55   The unity of authority and plan of action is about
    (A)   Unity of direction
    (B)   Authority
    (C)   Discipline
    (D)   Unity of commands

56   Directing can be called
    (A)   Lead
    (B)   Actuate
    (C)   None of above
    (D)   both (option I) & (option II)

57   Taking decisions and determine the objectives in company is the role of
    (A)   Management
    (B)   Administration
    (C)   Public
    (D)   Workers

58   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 above

59   Workmen’s compensation act for workers came in to existence in year
    (A)   1950
    (B)   1992
    (C)   1986
    (D)   1976

60   Identify the important health provisions in an industry
    (A)   Ventilation and temperature
    (B)   First aid appliance
    (C)   Sitting facilities
    (D)   None of above

61   Oily or greasy floors is the factor which contributes to accident due to:
    (A)   workers
    (B)   management
    (C)   faulty layout or design of working place
    (D)   natural disasters

62   —– is defined as an accounting book of final entry where transactions are listed is separate or different accounts.
    (A)   Assets
    (B)   Liability
    (C)   Ledger
    (D)   Journal

63   Capital invested in equipment, tools, furniture are termed as
    (A)   Floating capital
    (B)   Sinking capital
    (C)   Working capital
    (D)   Fixed capital

64   Inheritance tax and Endowment tax are falls under
    (A)   Direct tax
    (B)   Indirect tax
    (C)   Service tax
    (D)   All of above

65   Which of the following are the “Sources of working capital”?
    (A)   Trade credit
    (B)   Credit facilities
    (C)   Retained earnings
    (D)   both (A) and (B)

66   Buying new machinery, doing research and Development are the examples of
    (A)   Deferred taxation
    (B)   Retained earning
    (C)   Depreciation provisions
    (D)   All of above

67   An integrated information system that serves all department within an enterprise is called as
    (A)   MRP
    (B)   MPR
    (C)   ERP
    (D)   EPR

68   List the modules in ERP
    (A)   Human resource
    (B)   Purchase
    (C)   Finance and accounting
    (D)   All of above

69   Arrange the activities of ABC analysis in the sequential form i) Make the list of all item as per there value ii) Find out the percentage of high, medium, and low valued items. iii) Separate and count the number of costly, medium valued and low valued items iv) Find out and list all items used in industry
    (A)   iv, ii, i, iii
    (B)   iv, i, iii, ii
    (C)   ii, i, iv, iii
    (D)   iv, iii, ii, i

70   ii)Punctuality and continuous efforts iii) Customer service iv) Standardization of work
    (A)   Only i
    (B)   Only i and ii
    (C)   Only ii
    (D)   i, ii, iii, iv

71   Match the following, select proper option L) Structure i) Cleaning M) Systemize ii) Standardization N) Standardize iii) Neatness O) Sanitize iv) Organization
    (A)   L-ii, M-iv, N-i, O-iii
    (B)   L-i, M-iv, N-ii, O-iii
    (C)   L-iv, M-iii, N-ii, O-i
    (D)   L-iv, M-i, N-iii, O-ii

72   Which are the following two elements of TQM i) Quality of planning ii) Quality of design iii) Quality implementation iv) Quality of performance
    (A)   i and iii
    (B)   ii and iv
    (C)   ii and iii
    (D)   i and iv

73   Vidarbha Textiles is establishing company. In the first meeting some policies were determined which include determine company’s objective, formulate correct policies, prepare cost and performance standards for budget and prepare short range plans to evaluate achievements. Identify the function of management discussed in the said meeting.
    (A)   a) Planning
    (B)   b) Organizing
    (C)   c)Directing
    (D)   d)Coordinating

74   How many levels of management are there?
    (A)   a) Four
    (B)   b) Three
    (C)   c) As per situation
    (D)   d) Can’t say

75   Who had a main concern to achieve efficiency of Men and Material through application of Time and Motion Study?
    (A)   a) F.W. Taylor
    (B)   b) Robinson Boulton
    (C)   c)Gilbreth
    (D)   d)Mary Parker

76   Which is the first in planning?
    (A)   a) Establish tasks
    (B)   b) Identify resources
    (C)   c)Prioritize goals
    (D)   d) Establish goals

77   Management is in process since
    (A)   a) Historical period
    (B)   b) After 1800
    (C)   c) After 1900
    (D)   d) After 1700

78   Who said this,” Management is getting the things done by others “-?
    (A)   a) Henry Gantt
    (B)   b) Drucker
    (C)   c)Mary Parker
    (D)   d)Henry Fayol

79   Which is the fastest growing sector in India now a days?
    (A)   a) Agriculture
    (B)   b) Fishing
    (C)   c) Service
    (D)   d) Manufacturing

80   Which of the following is disadvantage of Liberalization?
    (A)   a) Improper distribution of income
    (B)   b) May work against indigenous industries
    (C)   Multinational companies only
    (D)   d) All of the above

81   Trade is defined as the agreeable exchange of
    (A)   a) goods
    (B)   b) service
    (C)   a and b both
    (D)   none of these

82   The chemical industry consists of the companies that
    (A)   a) Purchases and sales chemicals
    (B)   b) Produce industrial chemicals
    (C)   metals, minerals, air water into different chemical products
    (D)   b and c both

83   Which of the following are types of partners?
    (A)   Active
    (B)   sleeping
    (C)   a and b both
    (D)   none of these

84   Express papers ltd is a joint stock private limited company. What is maximum limit of members?
    (A)   a) 14
    (B)   b) 50
    (C)   c) 7
    (D)   d) No such limit

85   Injury is defined as harm caused to the body such as –
    (A)   a) An abrasion
    (B)   b) Puncture
    (C)   c) Wound
    (D)   d) All of the above

86   Who is responsible for unguarded moving parts in an industry?
    (A)   a) Government
    (B)   b) Management
    (C)   c) Workers
    (D)   d) none of these

87   The capital required for establishing an organization is called as –
    (A)   Working capital
    (B)   Fixed capital
    (C)   circulating capital
    (D)   none of these

88   Financial control ensures-
    (A)   Efficient assets utilization
    (B)   Security of business assets
    (C)   Shareholder’s interest
    (D)   All of the above

89   Which of the following budget is a forecast of the number of products that must be manufactured?
    (A)   a) Sales Budget
    (B)   b) Production Budget
    (C)   c) Purchase Budget
    (D)   d)Cash Budget

90   Which of the following types of budgets essential for smooth working of Manufacturing Industry?
    (A)   a) Master and sales budget
    (B)   b) Production and financial Budget
    (C)   c) Capital and Cash budget
    (D)   d) All of the above

91   and providing the appropriate material of the right quantity at right time and place?
    (A)   a) Materials Management
    (B)   b) Operational Management
    (C)   c) Financial Management
    (D)   d) Marketing Management

92   In ABC Analysis, which inventory is classified into group C?
    (A)   a) Annual consumption cost is around 15-25%
    (B)   b) Annual consumption cost is around 70-80%
    (C)   c)Annual consumption cost is around 5-10%
    (D)   d)Annual consumption cost is around 50%

93   Items like nuts, bolts, screws are given a rating of –
    (A)   a) Items A
    (B)   b) Items B
    (C)   c) Items C
    (D)   d) Items D

94   The company have to generate valuable financial reports by compiling financial data from every department of company which includes Production, Accounts, Sales, Purchase, Personnel, Product development and design. Which of the following module shall execute this task?
    (A)   a) financial module
    (B)   b) H.R. Module
    (C)   c) Production module
    (D)   d) Purchase module

95   ATM Means?
    (A)   Automated Teller
    (B)   All Time Money
    (C)   Automated Treasurer
    (D)   Automated Teller Machines

96   Lower Levels operation as
    (A)   Production
    (B)   Purchase
    (C)   Payment
    (D)   All of these

97   The qualities of Leadership are:
    (A)   Honesty
    (B)   Competent
    (C)   Forward looking
    (D)   All of these

98   ……………… is division of Labour.
    (A)   Chain of command
    (B)   Authority
    (C)   Responsibility
    (D)   Work specialization

99   The process of classifying an organization on the basis of similar activities, to facilitate planning and control is called…….
    (A)   Organization
    (B)   Departmentation
    (C)   Decentralization
    (D)   centralization

100   ……– is an association of two or more persons who have agreed to share the profits of a business carried on by all or any of them acting for all”
    (A)   Proprietorship
    (B)   Partnership
    (C)   Joint Stock Company
    (D)   Cooperative Society

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