Financial Management
(FM)
MCQs
1. The time period between placing an order to its receipt in stock is known as __________.
A. Over time
B. Carrying time
C. Shortage time
D. Lead time
2. Which one of the following is not the secondary function of Material Management?
A. Standardization & Specification
B. Make or Buy decision
C. Forecasting and Planning
D. Purchasing
3. "Buffer Stock" is the level of stock __________.
A. Half of the actual stock
B. Maximum stock in inventory
C. Minimum stock level below which actual stock should not fall
D. At which the ordering process should start
4. Identify the correct pairs.
|
1. People Oriented definition |
a. McFarland |
|
2. Production Oriented definition |
b. Lawerence Appley |
|
3. Decision Oriented definition |
c.Taylor |
|
4. Function Oriented definition |
d. Stanley Vance |
A. (1-b), (2-c), (3-d), (4-a)
B. (1-c), (2-b), (3-d), (4-a)
C. (1-a), (2-c), (3-d), (4-b)
D. (1-b), (2-c), (3-d), (4-c)
5. _________ has been framed to suggest appropriate behaviour of employees in the organization.
A. Code of Conduct
B. Profession
C. Business
D. Employment
6. As per Henry Fayol's principles of management one of the principle states that "In an organization, the operations that have the same objective should be directed by one manager using one plan" The principle is known as:
A. Unity of Direction
B. Discipline
C. Unity of Command
D. Authority
7. A ________ is a legal offer to purchase.
A. Purchase Order
B. Quotation
C. Supplier's Invoice
D. Receiving Order
8. Match the technique of scientific management given under B with the suitable statements under A
|
1. One best way of doing job |
a. Simplication |
|
2. Eliminates unnecessary diversity of products |
b. Standardization |
|
3. Settting standards for business activities |
c. Motion study |
|
4. Eliminates unnecessary movements |
d. Method study |
A. (1-a), (2-b), (3-c), (4-d)
B. (1-c), (2-b), (3-d), (4-a)
C. (1-d), (2-a), (3-b), (4-c)
D. (1-d), (2-c), (3-b), (4-a)
9. "Personnel Management is the planning, organizing, directing, controlling of the procurement development, integration, maintenance and separation of human resources to the end that individual, organizational and social objectives are achieved." Who has given this definition of Personnel Management?
A. Prof.Jucius
B. Edwin Flippo
C. Stephens Robbins
D. French
10. ________ is referred practically to no inventory.
A. Rolling
B. Just in Time
C. Shifting
D. Simplification
11. According to _________ "An organization is a structure a framework and a process by which a cooperative group of human beings allocated its task among its members, identifies relationship and integrates its activities towards common objectives."
A. Gregor
B. Terry
C. Massie
D. Drucker
12. Stock of goods lying in the warehouse is called _________.
A. Inventory
B. Assemblies
C. Accessories
D. Equipments
13. In order to enter into profession, one has to acquire an educational degree by clearing specified examination conducted by registered institutes. Which feature of the profession is being revealed?
A. Professional Association
B. Restricted entry
C. Well defined body of knowledge
D. Ethical Code of Conduct
14. Which one of the following is not the objective of Production Management?
A. Right Time
B. Right Quantity
C. Right Place
D. Right Quality
15. In order to become a lawyer one has to register himself as a member of Bar Council of India. Which feature of profession is being revealed?
A. Professional Association
B. Restricted Entry
C. Service motive
D. Ethical Code of Conduct
16. Our economic system based on monetary exchange has three distinct flows like goods flow, __________ and information flow.
A. Method
B. Money
C. Market
D. Material
17. Which of the following is not among the levels of management?
A. Middle Level Management
B. Lower Level Management
C. Intermediate Level Management
D. Top Level Management
18. In which order the following functions of the management are performed?
a) Organizing
b) Controlling
c) Planning
d) Directing
A. c, a, d, b
B. a, b, c, d
C. c, d, a, b
D. c, a, b, d
19. The style of singing of Arjit Singh and Honey Singh are different to each other, however they acquire same knowledge of ragas. Identify the feature of art discussed above.
A. Existence of theoretical knowledge
B. Based on practice and creativity
C. Personalized Application
D. Universal Validity
20. Which one of the following statement is not true?
A. Management is also meant making decisions at various level
B. Management integrates various resources of the organization
C. Without objective it becomes easy to define direction of the organization
D. Management is a process of organised activities
21. The following is not a function of Personnel Management.
A. Training and Development
B. Wage and Salary Administration
C. Production, Planning and Control
D. Recruitment and Selection
22. According to ________ the life of a manager is a perpetual decision-making activity.
A. J.N.Schulze
B. Peter Drucker
C. Harold Koontz
D. S.George
23. ________ is regarded as father of scientific management.
A. FW Taylor
B. Henry Fayol
C. Peter Drucker
D. Edwin Flippo
24. _________ is obedience application, energy, behaviour and outward mark of respect shown by employees.
A. Discipline
B. Unity of Direction
C. Remuneration of Personnel
D. Unity of Command
25. Men come in ________ part of schematic production system.
A. Continuous
B. Output
C. Process
D. Input
26. Which of the following is not a Management Principle?
A. Discipline
B. Creativity
C. Equity
D. Order
27. _______ is called as an idle resource of an enterprise.
A. Laborers
B. Capital
C. Inventory
D. Finance
28. FW Taylor introduced the concept of ________ which motivated the workers to work hard.
A. Time Rate System
B. Piece Rate System
C. Differential Piece Rate System
D. Combined Rate Method
29. The _________ is a statement of which end items are to be produced, their quantity and the dates are to be completed.
A. Inventory Record
B. MRP
C. MPS
D. Bills of Material
30. Which function of Material Management ensures that the system and procedure adopted for Material Management are efficient?
A. Quality Control of Materials
B. Standardization and Simplification
C. Design and Development of Product
D. Departmental Efficiency
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