41. ___ is an objective assessment of an individual’s performance against well-definedbenchmarks.
A. Performance Appraisal
B. HR Planning
C. Information for goal identification
D. None of the above
Answer
A. Performance Appraisal
42. what is linked with performance appraisal?
A. J
B. Design B Development
C. Job analysis
D. None of the above
Answer
C. Job analysis
43. which of the following is an alternate term used for performance appraisal?
A. Quality and quantity of output
B. Job knowledge
C. Employee assessment
D. None of the above
Answer
C. Employee assessment
44. Match the following general applications of performance assessment with their specificpurposes I. Administrative Uses/ Decisions ___ A. Performance Feedback II. Documentation ___ B. Lay – offs III Organizational Maintenance/ Objectives ___ C. Helping to meet legal requirements IV. Developmental Uses ___ D. Evaluation of HR systems
A. I-C, II-D, III-B, IV-A
B. I-B, II-C, III-D, IV-A
C. I-B, II-C, III-D, IV
D. D. I-A, II-B, III-D, IV-C
Answer
B. I-B, II-C, III-D, IV-A
45. Which of these is the main purpose of employee assessment?
A. Making correct decisions
B. To effect promotions based on competence and performance
C. Establish job expectations
D. None of the above
Answer
B. To effect promotions based on competence and performance
46. How performance appraisal can contribute to a firm’s competitive advantage?
A. Ensures legal compliances
B. Minimizing job dissatisfaction and turnover
C. Improves performance
D. All of the above
Answer
D. All of the above
47. From the strategic point of view, in which three categories can an organisation, be grouped?
A. Defenders
B. Prospectors
C. Analyzers
D. All of the above
Answer
D. All of the above
48. Successful defenders use performance appraisal for identifying ___
A. Staffing needs
B. Job behaviour
C. Training needs
D. None of the above
Answer
C. Training needs
49. Analyzers tend to emphasis both ___ and ___ and employee extensive trainingprogrammes.
A. Skill building and skill acquisition
B. Current performance and past performance
C. Strategy a
D. behaviour
Answer
A. Skill building and skill acquisition
50. What do successful analyzers tend to examine?
A. Division and corporate performance evaluation
B. Ideal appraisal process
C. Current performance with past performance
D. None of the above
Answer
C. Current performance with past performance
51. which of the following cannot be a reason of unfavorable direct materials price variance?
A. Sudden rise in price of materials
B. Quality of materials purchased
C. Appointment of inexperienc
D. workers D Inefficient standard setting
Answer
C. Appointment of inexperienc
52. Which of the following is not likely to be a reason of unfavorable direct labor efficiencyvariance?
A. Increase in direct materials prices
B. Lack of proper supervision
C. Frequent break downs during production process
D. Use of old, outdated or faulty equipment
Answer
A. Increase in direct materials prices
53. Question Selling price per tonne is Rs. 69.50, variable cost per tonne is Rs. 35.50 and fixedcost is Rs. 18, 02,000. Find out the BEP in units
A. 49000
B. 51000
C. 53000
D. 55000
Answer
C. 53000
54. Labour Efficiency Standards are decided by considering following factor(s)
A. Records of past performance
B. Time & Motion Study
C. Trial Runs
D. All of the above
Answer
D. All of the above
55. A good ___ system will not punish the workers for the matters beyond the control of theworkers.
A. Wage payment
B. Appraisal
C. Promotion
D. none of the above
Answer
A. Wage payment
56. ___ do not give the returns during the same period during which they are paid for
A. Intangible assets
B. Fixed assets
C. Both (A) a
D. (B) (D) None of the above
Answer
B. Fixed assets
57. ___ Following is (are) called the element(s) of Cost
A. Material
B. Labour
C. Expenses
D. All of the above
Answer
D. All of the above
58. The cause(s) of idle time can be analysed as
A. Administrative causes
B. Productive causes
C. Economic causes
D. All of the above
Answer
D. All of the above
59. ___ Accounting becomes a source of information for Management Accounting.
A. Financial
B. Cost
C. Both (A) a
D. (B) (D) None of the above
Answer
A. Financial
60. Which of the following cannot be a reason of unfavorable direct materials quantityvariance?
A. Unmotivated workers
B. Lack of supervision
C. Frequent power failures
D. Uneconomical order size
Answer
D. Uneconomical order size
61. Which of the following is not likely to be a reason of unfavorable direct labor rate variance?
A. Poor estimates while setting direct labor standards
B. An increase in labor rates and overtime premium
C. Frequent break downs
D. Assignment of easy tasks to highly skilled workers
Answer
C. Frequent break downs
62. Standard Costing specifically relates to the function of
A. Finance
B. Production
C. Quality
D. None of the above
Answer
B. Production
63. Cost Accounting restrict itself with ___ transactions
A. Financial
B. Spot
C. Historical
D. Administrative
Answer
C. Historical
64. In Cash budget, Non- operating cash inflow include(s)
A. Receipt of loan/borrowings
B. Issue of shares
C. Sale of fix
D. assets (D) All of the above
Answer
D. assets (D) All of the above
65. Sales Budget is a forecast expressed in
A. Quantity
B. Money
C. Both (A) a
D. (B) (D) None of the above
Answer
C. Both (A) a
66. Following is used as tool for Cost Control
A. Marginal cost
B. Historical cost
C. Standa
D. cost (D) All of the above
Answer
C. Standa
67. The term management accounting was first coined in
A. 1960
B. 1950
C. 1945
D. 1955
Answer
B. 1950
68. Management accounting is 1) Subjective 2) Objective
A. Only 1
B. Only 2
C. Both 1 a
D. 2 (D) None of the above
Answer
A. Only 1
69. The use of management accounting is
A. Optional
B. Compulsory
C. Legally obligatory
D. Compulsory to some and optional to others
Answer
A. Optional
70. The management accounting can be stated an extension of 1) Cost Accounting 2 ) Financial Accounting 3) Responsibility Accounting
A. Both 1 and 2
B. Both 1 and 3
C. Both 2 a 3
D. 1, 2, 3
Answer
D. 1, 2, 3
71. Who coined the concept of management accounting?
A. R.N Anthony
B. James H. Bliss
C. J. Batty
D. American Accounting Association
Answer
B. James H. Bliss
72. The definition ‘Management Accounting is the presentation of accounting information insuch a way as to assist management in the creation of policy and the day-to-day operation of an undertaking.’
A. Anglo –American Council on Productivity
B. AICPA
C. Robert N. Anthony
D. All of the above
Answer
A. Anglo –American Council on Productivity
73. During the month of December actual direct labor cost amounted to Rs. 39,550, thestandard direct labor rate was Rs.10 per hour and the direct labor rate variance amounted toRs.450 favorable. The actual direct labor hours worked was:
A. 3,955 hours
B. 4,000 hours
C. 3,910 hours
D. 4,500 hours
Answer
B. 4,000 hours
74. Responsibility centres are departments or organizational functions whose performance is thedirect responsibility of specific managers. One type of responsibility centre is a revenue centre, which is responsible for
A. Investments and costs
B. sales and profits
C. profits
D. sales
Answer
D. sales
75. Key motivational factors in budgeting do not include
A. Training in the budget process
B. correct identification of the blame for below budget performance
C. the feedback of information
D. the setting of fair, achievable standards
Answer
B. correct identification of the blame for below budget performance
76. Which of the following does not help to minimize the problems encountered in budgeting?
A. Ensuring adequate budget planning
B. identifying the responsibility for key performance areas
C. Encouraging manager participation
D. keeping bad news from the managing director
Answer
D. keeping bad news from the managing director
77. What would be the most likely cause of an unfavourable labour rate variance together with afavourable labour efficiency variance?
A. The employment of more highly skilled staff than budgeted
B. Poor wage negotiation by the Human Resources manager
C. The employment of less well-train
D. staff than in
Answer
A. The employment of more highly skilled staff than budgeted
78. A budgeting process which demands each manager to justify his entire budget in detailfrom beginning is
A. Functional budget
B. Master budget
C. Zero base budgeting
D. none of the above
Answer
C. Zero base budgeting
79. ___ is the first step of budgetary system and all other budgets depends on it.
A. Cost budget
B. Sales budget
C. Production budget
D. None of the above
Answer
B. Sales budget
80. ___ contains the picture of total plans during the budget period and it comprisesinformation relating to sales, profit, cost, production etc.
A. Master budget
B. Functional budget
C. Cost budget
D. None of the above
Answer
A. Master budget
