Multiple Choice Questions (MCQs)

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1   Which is not the merit of Indirect tax?
    (A)   Convenient
    (B)   Equitable
    (C)   Wide coverage
    (D)   Certain

2   Which is not the cost concerned with EOQ?
    (A)   Procurement cost
    (B)   Inventory carrying cost
    (C)   Total cost
    (D)   Primary cost

3   What will be happen when there is no buffer stock?
    (A)   Production stoppage
    (B)   Delay in deliveries
    (C)   loss of reputation
    (D)   All of the above

4   Statement 1 – Procurement is a systematic process. Statement 2 – Purchasing is a routine process.
    (A)   Both 1 and 2 are correct
    (B)   Both 1 and 2 are wrong
    (C)   1 correct, 2 wrong
    (D)   1 wrong, 2 correct

5   Benefits of TQM are —–
    (A)   Increase efficiency
    (B)   Encourages customer satisfaction
    (C)   Inspection costs are reduced
    (D)   both i and ii

6   The Six Sigma methodology endorses
    (A)   DMAIC concept
    (B)   CRM concept
    (C)   Quality circle concept
    (D)   TQM concept

7   For staffing, inventory, production etc. company develops and design a plan called —–
    (A)   MPS
    (B)   MRP
    (C)   ERP
    (D)   EPS

8   ERP stands for —–
    (A)   Enterprise Resource
    (B)   Enterprise Resource Process
    (C)   Enterprise Resource
    (D)   None of the above

9   The goal of Total Quality Management is
    (A)   Customer satisfaction
    (B)   Product differentiation
    (C)   Brand Equity
    (D)   Action Globally

10   Service Tax introduce in India in year
    (A)   1993
    (B)   2004
    (C)   1994
    (D)   1989

11   Mr. Praful Kulkarni is working in Birla Pvt. ltd in the capacity of Foreman. Company provided him certain protecting devices under ACT.
    (A)   Factory Act
    (B)   Minimum Wages Act
    (C)   Compensation Act
    (D)   Safety provisions Act

12   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

13   when foreign investors do huge sale of stocks back to its own country it is referred as —–
    (A)   Bank loans
    (B)   Hire Purchase
    (C)   Equipment leasing
    (D)   Profit Flow Back

14   ……has to kept at secured and separate place which is not easily accessible.
    (A)   Inflammable Material
    (B)   Machine Safeguards
    (C)   Protecting Devices
    (D)   All of the above

15   organizational —– is mainly about adjusting work assignment, man power, and facilities that are required when temporary changes occur while working
    (A)   Balance
    (B)   Stability
    (C)   Flexibility
    (D)   None of the above

16   Balaji Telefilms industries refers to which of the following company type-
    (A)   Private limited company
    (B)   Ownership company
    (C)   Public Company
    (D)   Government

17   BIRLA Industries Ltd. Is a form of –
    (A)   Single Ownership
    (B)   Partnership
    (C)   Private ltd
    (D)   Joint Stock Company

18   1. can be defined as the set of steps to do the particular activity or activities in systematic manner.
    (A)   Organizing
    (B)   Planning
    (C)   Directing
    (D)   Motivating

19   1. Goal and solid decision making allows ………to very fast and becomes stable in the market.
    (A)   Business to Grow
    (B)   Business to Market
    (C)   Business to Business
    (D)   None Of the Above

20   —– is a right for giving orders and the power to ensure obedience
    (A)   Division of work
    (B)   Discipline
    (C)   Authority and Responsibility
    (D)   Work

21   Which definition best describes the process of globalization?
    (A)   capitalist companies are spreading across the planet
    (B)   we all now live in a single society
    (C)   individuals, groups and nations are becoming more interdepend
    (D)   human beings now live on every continent of the planet

22   1) 80:20 rule can also be called as
    (A)   Fish bone Diagram
    (B)   Pareto Diagram
    (C)   Scatter Diagram
    (D)   Histogram

23   Causes of accidents are:
    (A)   Accidents because of workers
    (B)   Accidents because of management
    (C)   Both a) and b)
    (D)   None

24   a —– assists in taking decisions correctly and also implementing it effectively and efficiently.
    (A)   line organization.
    (B)   line and staff organization
    (C)   functional organization
    (D)   all of above

25   —– can culminate into strikes or fights among employees and cause serious consequences to the organization.
    (A)   communication
    (B)   good communication
    (C)   miscommunication
    (D)   all of above

26   —– can be defined as running business by the single owner
    (A)   Proprietorship
    (B)   Partnership
    (C)   Private limited
    (D)   Public limited

27   Departmentalization can be done on the basic of following factor:
    (A)   process
    (B)   products
    (C)   Function
    (D)   All of above

28   Decision taken by supervisor could be:
    (A)   change in work schedule or rescheduling
    (B)   Increase or decrease in production depending on current situations.
    (C)   Decision regarding rejection of raw material or finished products
    (D)   All of the above

29   —– 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

30   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

31   1. Types of business
    (A)   Service
    (B)   Manufacturing
    (C)   Trade
    (D)   All of Above

32   Adolescent is a person of the age in between
    (A)   15-18
    (B)   18-21
    (C)   21-25
    (D)   58-61

33   Vat started in Maharashtra from
    (A)   2003
    (B)   2004
    (C)   2005
    (D)   2006

34   —– uses all the resources of the enterprise in a systematic
    (A)   MRP
    (B)   MRPII
    (C)   ERP
    (D)   None

35   Economic order quantity is represented by
    (A)   Q0
    (B)   Eo
    (C)   Eoq
    (D)   None

36   Discipline comes in
    (A)   Seiri
    (B)   Seiso
    (C)   Seiketsu
    (D)   Seiton

37   Implementation of policy making in an industry is a role of –
    (A)   Management
    (B)   Administration
    (C)   Public
    (D)   Workers

38   Follow in not the strength of textile industry
    (A)   Cheap workforce
    (B)   Demand is continuous
    (C)   Import of raw material
    (D)   Huge capacity of production

39   Globalization has disadvantage
    (A)   Industrialization
    (B)   Pollution of air, soil, water
    (C)   Adaption of western culture
    (D)   All of the above

40   The year 1991 is famous for
    (A)   New Fiscal deficit policy
    (B)   IT parks initiated in Bangalore
    (C)   Globalization policy, liberalization were accepted by India
    (D)   Policies of cooperative societies changed

41   Hindustan Petroleum Is a form of –
    (A)   Single Ownership
    (B)   Partnership
    (C)   Public Sector
    (D)   Private ltd.

42   Which organization is temporary in nature?
    (A)   Line and staff organization
    (B)   Line organization
    (C)   Project organization
    (D)   Staff Organization

43   Which of following is not the direct tax?
    (A)   Custom Duty
    (B)   Excise
    (C)   Sales
    (D)   All of the above

44   Working capital is required for
    (A)   Advertisement
    (B)   Salary
    (C)   Maintenance
    (D)   All of the above

45   The summarized budget of entire enterprise is known as.
    (A)   Master Budget
    (B)   Template Budget
    (C)   Main Budget
    (D)   Enterprise Budget

46   Who is responsible “unguarded moving parts”?
    (A)   Workers
    (B)   Management
    (C)   Government
    (D)   None of the above

47   —– is the financial snapshot of the of the organization.
    (A)   Balance Sheet
    (B)   Profit and Loss Account
    (C)   Snap Sheet
    (D)   Budget

48   Following is not concerned with modern techniques in material management
    (A)   MRP
    (B)   SAP
    (C)   ERP
    (D)   5S

49   A’ type of items are purchased in
    (A)   Sufficient quantities
    (B)   Small quantities
    (C)   Medium quantities
    (D)   None of the above

50   —– determines quantity and timing for materials planning
    (A)   MRPII
    (B)   SAP
    (C)   ERP
    (D)   MRP

51   Number of subordinates handled by a manager effectively called as
    (A)   Authority
    (B)   Delegation
    (C)   Span of Control
    (D)   Scop of Control

52   Economics 3. Maslow (iii) Principles of Management 4. Henry Fayol (iv)Scientific Management
    (A)   1-(ii),2-(iv),3-(i),4-(iii)
    (B)   1-(ii),2-(iii),3-(iv),4-(i)
    (C)   1-(iii),2-(iv),3-(i),4-(ii)
    (D)   1-(iv),2-(i),3-(ii),4-(iii)

53   Pickles, papad, basket making are products of —–
    (A)   Chemical Industry
    (B)   Agro Industry
    (C)   IT Industry
    (D)   Banking Industry

54   Industries associated with are computer hardware, software, electronics, semiconductors, internet, telecom equipment and e-commerce
    (A)   IT Industry
    (B)   Banking Industry
    (C)   Insurance Industry
    (D)   Retail Industry

55   —– is a process of dividing large organization into small and flexible administrative units.
    (A)   Divisions formation
    (B)   Defragmentation
    (C)   Departmentation
    (D)   Partitioning

56   Which statement is wrong? In product type departmentation
    (A)   People become expert in the work allotted to them
    (B)   Product may become brand name
    (C)   Attention is given to the product
    (D)   No duplication of work

57   Under which of the following case, an employer has to provide compensation to an employee?
    (A)   Injury caused during employment
    (B)   permanent disablement due to accident
    (C)   death due to accident
    (D)   all of the above

58   A joint stock company divides the capital required into units of equal denomination of Rs. 1,2,5 or 10. Each unit is called a ……
    (A)   Budget
    (B)   Debenture
    (C)   Share
    (D)   Balance sheet

59   on value addition at each stage of transaction in the production/ distribution chain.
    (A)   Customs duty
    (B)   Sales Tax
    (C)   Service Tax
    (D)   VAT

60   While deciding how to manage inventory, the question to be answered is
    (A)   How much should we
    (B)   How often should we order?
    (C)   Both (a) and (b)
    (D)   None

61   Which of the following is not a step in purchasing?
    (A)   If necessary, request for quotations is made on prescribed quotation form to all the selected sources of supply
    (B)   To achieve integration with other departments of the company
    (C)   Open the quotations at prescribed time on the prescribed date
    (D)   Prepare a comparative statement of the rates, terms and conditions mentioned in the quotations and then analyze them

62   A product/service is said to possess good quality if it fulfills the following requirements. 1. Suitability (It is fit for the intended use) 2. Reliability (It gives efficient and consistent performance) 3. Durability (It has desired life) 4. Safe and foolproof workability (Its working is safe and foolproof)
    (A)   All 1,2, 3,4
    (B)   1 and 2
    (C)   2 and 3
    (D)   1,3 and 4

63   —– is a management technique used to communicate to employees what is required to produce the desired quality of products and services and to influence employee actions to complete tasks according to the quality specifications
    (A)   QC
    (B)   5S/9+
    (C)   KAIZEN
    (D)   QMS

64   In 1991 India adopted —–
    (A)   Policies of co-operative.
    (B)   initiate IT parks.
    (C)   Globalization policy
    (D)   Fiscal Deficit policy

65   Types Of Business —–
    (A)   Manufacturing
    (B)   Trade
    (C)   Service
    (D)   All of above

66   Cipla Ltd is
    (A)   Textile company
    (B)   Chemical Company
    (C)   IT industry
    (D)   All of above

67   Scientific management works on
    (A)   Research &experimentation
    (B)   trial & error
    (C)   more attention on production only
    (D)   Tradition management theory

68   Setting basic goals and objectives is function of –
    (A)   upper middle level management
    (B)   Top level management
    (C)   Middle level management
    (D)   Low level management

69   ABC industry start their recruitment process in which manager select qualified people for various job position in organization. This activity is —–
    (A)   Forecasting
    (B)   Organizing
    (C)   Leadership
    (D)   Staffing

70   How many partners are eligible for partnership?
    (A)   2
    (B)   02-May
    (C)   02-Oct
    (D)   ALL of the above

71   The firm type of Bajaj Auto Ltd is
    (A)   Proprietorship
    (B)   Partnership
    (C)   Joint stock company
    (D)   Public Sector

72   Sai Sale services is trading business started by four persons by investing 2lacks each. Which is suitable ownership for that business.
    (A)   Private Limited
    (B)   Partnership
    (C)   Proprietorship
    (D)   Both i & ii

73   Fixed capital is also called as
    (A)   Tight capital
    (B)   Blocked capital
    (C)   working capital
    (D)   current capital

74   Which of the following illustrates the use of a hedging (or matching) approach to financing?
    (A)   Short-term assets financed with long-term liabilities.
    (B)   Permanent working capital financed with long-term liabilities.
    (C)   Short-term assets financed with equity.
    (D)   All assets financed with a 50percent equity, 50 percent long-term debt mixture.

75   Which business is liable for VAT?
    (A)   Importers
    (B)   manufacturer
    (C)   Distributor
    (D)   All

76   The ABC company Investment in purchasing raw material, salary is come under
    (A)   Working Capital
    (B)   fixed capital
    (C)   blocked capital
    (D)   ALL

77   —– is set of activities that ensure right material at right quality and quantity in right time
    (A)   Purchase Department
    (B)   Quality Department
    (C)   Marketing department
    (D)   None of these

78   Inventory control objectives
    (A)   Minimize investment in inventory
    (B)   maximize the service level to the firm’s customer & its operating departments
    (C)   Both i & ii
    (D)   None of these

79   Circle leader is from —–
    (A)   Management
    (B)   Board Of directors
    (C)   workers
    (D)   Supervisors

80   A paper mill supplies a corrugated container manufacturer with Kraft paper. The corrugated container manufacturer uses Kraft paper to manufacture corrugated shipping containers that are then sold to a cereal manufacturer. Which of the following is true?
    (A)   The corrugated container manufacturer is an internal customer to the cereal manufacturer.
    (B)   cereal manufacturer is an external customer to the paper mill.
    (C)   Both the paper mill and cereal manufacturer are External customers to the corrugated container manufacturer.
    (D)   None of these

81   GATT stands for
    (A)   General Awareness on Tariff and Trade
    (B)   General Agreement on Tariff and Trade
    (C)   Global Agreement on Tariff and Trade
    (D)   Global Agreement nontariff and Transport

82   Product are produced in
    (A)   Trade industry
    (B)   Manufacturing industry
    (C)   service Industry
    (D)   All of above

83   Banking Business is
    (A)   Service
    (B)   Manufacturing industry
    (C)   Trade
    (D)   None of these

84   Which is the process by which manager select, train, promote and retire their subordinates
    (A)   Staffing
    (B)   Directing
    (C)   Co ordinating
    (D)   Controlling

85   The process of breaking down an enterprise into various departments is
    (A)   Departmentation
    (B)   Project Organization
    (C)   Span of control
    (D)   None of these

86   Investment raised by shareholder from public for profit-based business in
    (A)   Proprietorship
    (B)   Partnership
    (C)   Joint stock Company
    (D)   Cooperative enterprises

87   Form of ownership which is nonprofit based is
    (A)   Proprietorship
    (B)   Partnership
    (C)   Joint stock Company
    (D)   Cooperative enterprises

88   Kirloskar Pneumatic Limited Company is
    (A)   Public Limited
    (B)   Private Limited
    (C)   Partnership
    (D)   Proprietorship

89   Sai Krupa Sugar & allied industry form by Mr. XYZ with 7 Board of director with, CEO. Under CEO, Plant Manager, Finance, & market. Plant Manager supervise on supervisor. Workers are under Supervisor. Investment raised by 43share holder in it. Then which is suitable Organization & form of Ownership
    (A)   Functional organization, Partnership
    (B)   Line & staff organization, Private ltd Company
    (C)   Line Organization, Proprietorship
    (D)   Project Organization, Cooperative enterprises

90   Injured Employer is not liable to compensate if:
    (A)   the worker recovers in 2hours
    (B)   the worker is under influence of drink or drugs
    (C)   any safeguard is removed by the workmen.
    (D)   All of above

91   working capital is also called
    (A)   blocked capital
    (B)   current capital
    (C)   fixed capital
    (D)   tight capital

92   Types of budgets:
    (A)   Fixed
    (B)   variable
    (C)   functional
    (D)   All of above

93   Johnson Company wants to procure Land & build the structure for its own company. Investment for this coming under
    (A)   Circulating Capital
    (B)   Fixed capital
    (C)   Working Capital
    (D)   None

94   The concept in management which concern with flow of material in an organization by using function like purchasing, storing, moving, distributing, production, dispatching is called
    (A)   Finance Management
    (B)   Quality management
    (C)   Material Management
    (D)   None

95   What is Ascending path for purchasing 1) Purchase Order 2) Material Requisition 3) market analysis 4) Quotation call 5) finalization of supplier
    (A)   1-2-3-4-5
    (B)   2-5-3-4-1
    (C)   4-3-1-2-5
    (D)   2-4-3-5-1

96   Standardizing includes in
    (A)   Seiri
    (B)   Seition
    (C)   Seiso
    (D)   Seiketsu

97   Industrial sector involves
    (A)   construction
    (B)   Fisheries
    (C)   Textile
    (D)   All of above

98   India is awarded a certification of POLIO free country in
    (A)   Jan-11
    (B)   Jan-09
    (C)   Jan-14
    (D)   Jun-11

99   Don Mackinnon, the person in charge of ” Hear Music” has been given goals related to the rollout and sales of this subsidiary of Starbucks. His success at implementing the strategy will be accessed by actual performance against the goals. This comparison is known as:
    (A)   Planning
    (B)   Organizing
    (C)   Controlling
    (D)   Implementing

100   A partner who is not publicly known as a partner but takes active part in the affairs of the business is
    (A)   Sleeping partner
    (B)   Active partner
    (C)   Secret partner
    (D)   Nominal partner

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