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Objective Type Set
Online MCQ Assignment
Question Solution
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State whether the following statements given below are ‘True’ or ‘False’ with justifications for your answer. If False, state the correct statement. No credit will be given for merely stating – ‘True’/‘False’.
Q1: ERP bridges the information gap across the organization.
Ans: True
Q2: Target Costing reduces the overall cost of a product over its entire life-cycle with the help of production, engineering, research and design.
Ans: True
Q3: JIT manufacturing, based as it is on ‘Push through’ philosophy, helps to provide the right parts at the right time in right quantity.
Ans: False
Q4: A Balanced Score Card studies the performance of management by comparing a financial achievement with the amount spent thereon.
Ans: False
Q5: The key factors of ‘Theory of constraints’ is contribution and profit.
Ans: False
Out of the different options given against each of the following statements, only one is the most appropriate option. You are required to write in down :
Q1: ABC Ltd., has correct PBIT of Rs.19.20 Cr. on total assets of Rs.96 Cr. The company propose to increase assets by Rs.24 Cr., which is estimated to increase operating profit before Depreciation by Rs.8.4 Cr. and a net increase in Depreciation by Rs.4.8 Cr. This will result in ROI :
A. To decrease by 1% [Ans]
B. To increase by 1%
C. To remain the same
D. None of these.
Q2: The Selling price of the single product manufactured by a company is fixed at Rs.1500 per unit. In the coming year, 500 units of the product are likely to be sold. If the total value of investments of the company is Rs.15 lakhs and it has a target ROI of 15%, the target cost would be :
A. Rs.930
B. Rs.950
C. Rs.1050 [Ans]
D. None of these.
Q3: A company using a detailed system of standard costing finds that the cost of investigation of variances is Rs.30,000 and if after investigation, it is found that the situation is out of control, the cost of correction is Rs.50,000. If no investigation is made, the present value extra cost involved is Rs.2,00,000. The probability of process, being out of control, is 20%. The cost of investigation would be :
A. Rs.6,000
B. Rs.10,000
C. Rs.40,000 [Ans]
D. None of these.
Q4: A company makes components and sell internally to its subsidiary and also to external market. The external market price is Rs.24 per component, which gives a contribution of 40% of sales. For external sales, variable costs include Rs.1.50 per unit for distribution costs. This is, however, not incurred in internal sales. There are no capacity constraints. To maximize company profit, the transfer price to subsidiary should be :
A. Rs.9.60
B. Rs.12.90 [Ans]
C. Rs.14.40
D. None of these.
Q5: A particular job requires 800 kgs of material-P. 500 kgs. of the particular material is currently in stock. The original price of the material-P was Rs.300 but current resale value of the same has been determined as Rs.200. If the current replacement price of the material-P is Rs.0.80 per kg., the relevant cost of the material-P required for the job would be :
A. Rs.640
B. Rs.440 [Ans]
C. Rs.300
D. None of these.
Fill in the blanks with appropriate word(s) :
Q1:___________ refers to a computer Information System that integrates all the business activities and processes throughout the entire organization.
Ans: Enterprise Resource Planning
Q2:___________ consists of shared values, beliefs and norms of organization.
Ans: Culture
Q3: The concept of Value Analysis was first conceived by ___________ .
Ans: Lawrence Miles
Q4: Enterprise Risk Management deals with ___________ and ___________ affecting value creation.
Ans: risks and opportunities
Q5: TQM is a ___________ oriented decision process aimed at satisfying internal and external customers.
Ans: Customer
Expand the following abbreviations :
Q1: CPOF
Ans: CPOF — Capacity Planning Using Overall Factors
Q2: FAST
Ans: FAST — Function Analysis System Technique
Q3: RIMS
Ans: RIMS — Risk and Insurance Management Society
Q4: OSHAS
Ans: OSHAS — Occupational Safety and Hazard System
Q5: FMEA
Ans: FMEA — Failure Mode and Effects Analysis
Define the following terms in just one/two sentences :
Q1: Detector
Ans: Detector : tracks the performance and can be visualized as a scanning system and it feeds on information. In fact the Detector is another name for Management Information System.
Q2: Query tools
Ans: Ouery tools : allow the users to find the information needed to perform any specific function.
Q3: Quality Functions Deployment
Ans: Quality Function Deployment (QFD) : is a structured approach to defining customer needs or requirements and translating them into specific plans to produce products to meet those needs.
Q4: Succession planning
Ans: Succession Planning : is the systematic process of defining future management requirements and
identifying candidates who best meet those requirements. It involves using the supply of labour within the organization for future staffing needs.
Q5: Control chart.
Ans: Control Chart : is a quality control tool to maintain a process under statistical control.
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