6G305 IOM MCQs for practice PT II even term 2023-2024

1. Which of the following is NOT a goal of HRM?

a) Integration of HRM with the corporate strategy of the organization
b) Producing the desired human behaviour that helps to achieve the organizations goals
c) Creation of a flexible environment that can easily adapt change
d) To endure proper delivery of products

2. Which of the following companies played a key role in the invention of the lean manufacturing system?
a) Toyota b) Motorola c) General Electric (GE) d) Ford

3. Which of the following companies introduced the concept of ‘Six Sigma’?

a) Toyota b) Motorola c) General Electric (GE) d) Ford

4. What does the underlined ‘D’ stands for in “DMADV”?

a) Design b) Diagram c) Define d) Develop

5. What does ‘I’ stands for in “DMAIC”?

a) Improve b) Identify c) Involve d) Inspect

6. Find the odd one among the following.

a) DMAIC b) DMADV c) PERT d) Six Sigma

7. Which of the following isa methodology of ‘Six Sigma’?

a) PDCA Cycle b) FMEA c) DMAIC method d) QFD

8. Kaizen refers to _________

a) Continuous improvement b) Intermittent improvement
c) Discontinuous improvement d) Stop improvement

9. Which of the following does Kaizen improvement process not focus on?
a) 5S b) Poka-Yoke c) Just-in-time principles d) Improvement by innovation

10. In which country was 5S invented?

a) India b) Japan c) Vietnam d) Norway

11. What is the English equivalent of the Japanese word ‘Seiri’?

a) Sorting out b) Systematic arrangement c) Standardizing d) Self-discipline

12. What is the English equivalent of the Japanese word ‘Seiton’?

a) Sorting out b) Systematic arrangement c) Standardizing d) Self-discipline

13. Which of the following from the 5S technique means ‘to separate out all unnecessary things and eliminate
them’?
a) Seiri b) Seiton c) Seiso d) Seiketsu

14. What is the English equivalent of the Japanese word ‘Seiso’?

a) Sorting out b) Systematic arrangement c) Scrub, shine, sweep d) Self-discipline
15. What is the English equivalent of the Japanese word ‘Seiketsu’?
a) Sorting out b) Systematic arrangement c) Scrub, shine, sweep d) Standardizing

16. What is the English equivalent of the Japanese word ‘Shitsuke’?

a) Sorting out b) Systematic arrangement c) Standardizing d) Self-discipline

17. Which of the following is not an advantage of implementing 5S technique?

a) To improve work efficiency b) To standardize work practices
c) To improve work discipline d) To create a dirty workplace

18. Which of the following business activities must be performed by customers and suppliers so that a friendly
and satisfactory relationship is maintained between them?
a) Procurement only b) Production and inventory planning only
c) Clerical work and systems only
d) Procurement, production and inventory planning, clerical works and systems

19. Shared vision is also known as ____________

a) Mutual strategic planning b) Strategic planning
c) Mutual planning d) Planning

20. Two suppliers A and B deliver the same raw materials for production company Z. The price offered by
supplier A is less compared to the price offered by supplier B. Which supplier should the company choose?
a) Supplier A b) Supplier B c) Supplier A & Supplier B
d) Depends on other factors like quality

21. Two suppliers A and B deliver the same raw materials for production company Z. The price offered by
supplier A is less compared to the price offered by supplier B. The quality of both the raw materials is the
same. Which supplier should the company choose considering other factors remaining the same for both of
them?
a) Supplier A b) Supplier B c) Supplier A& Supplier B d) None of them

22. Which of the following is not related with JIT implementation?

a) Pull System b) Push System c) Zero inventory d) Zero lead time

23. Which of the following are not results of successful implementation of JIT?
a) Improved quality b) Sporadic improvement of productivity
c) Elimination of waste d) Reduction in cost of operations

24. According to conventional approach, inventory is ______ and according to JIT, inventory is ______
a) necessary, unnecessary b) unnecessary, necessary
c) necessary, necessary d) unnecessary, unnecessary

25. Which of the following is not a principle of JIT manufacturing?

a) Total Quality Management b) Production Management
c) MRP d) Supplier Management

26. Which of the following is an example of the ‘Sole proprietorship’?

a) ABC Ltd. b) MHP Pvt Ltd. c) MCP (India) Private Ltd.
d) Sunday enterprises (one founder)
27. Which of the following is an example of a public limited joint-company?
a) Bharat Petroleum Corporation Ltd. b) Microsoft Corporation (India) Private Ltd.
c) Marriot Hotels Pvt Ltd. d) Infosys Ltd.

28. Which of the following is related to the sole proprietorship?

a) Single ownership b) Partnership
c) Co-operative societies d) Public Limited joint-company

29. Which of the following types of ownership can have 100% secrecy?
a) Single ownership b) Partnership
c) Joint-stock companies d) Co-operative societies

30. How many types of partners are there in partnership organisation?

a) Two b) Four c) Five d) Three

31. Partners who invest and actively take part in the daily operations of the firm are called ________
a) Active partners b) Sleeping partners c) Nominal partners d) Secret partners

32. Who is also known as ‘Silent partner’?

a) Sleeping partner b) Working partner c) Managing partner d) Nominal partner

33. Find the odd one out.

a) Shareholders b) Partnership organisation c) Active partners d) Sleeping partners

34. Find the incorrect statement.

a) Members of a co-operative society join voluntarily
b) Members of co-operative societies have common political interests
c) The capital of a co-operative society is raised in the form of shares
d) Members of the co-operative are known as shareholders

35. Which of the following is also called as “Industrial co-operatives”?

a) Consumers’ co-operative societies b) Housing co-operatives societies
c) Producers’ co-operatives societies d) Small and medium societies

36. Which of the following is associated with shareholders?

a) Single ownership b) Partnership
c) Joint Stock Company d) Public ltd. Joint company

37. What is the maximum size of the group allowed to form partners in the partnership organisation?
a) Up to 10 b) Below 15 c) Up to 20 d) Below 5

38. What is the minimum size of the group (shareholders) required to form a joint-stock public Ltd company?
a) Ten b) Seven c) Two d) Three

39. What is the maximum size of the group (shareholders) allowed to form a joint-stock private Ltd company?
a) Ten b) Seven c) Two d) Fifty

40. Which of the following can be an example of an event?

a) Start the motor b) Install machinery c) Refund money d) Arrange foreign exchange
41. Among the following, pick the option that can be an example of an activity.
a) Start the motor b) Loan approved c) Refund successful d) Arrange foreign exchange

42. What is also called an arrow diagram?

a) Activity diagram b) Project diagram c) Network diagram d) Scatter diagram

43. What is the fullform of PERT?

a) Project evaluation and review tool b) Programme evaluation and review technique
c) Plan evaluation and review technique d) Plan evaluation and review tool

44. How many time estimates are used in PERT?

a) One b) Two c) Three d) Four

(Three estimates in PERT are optimistic time, pessimistic time and most likely time)

45. Which of the following network techniques follows an event-oriented approach?

a) CPM b) PERT c) CPM and PERT d) Normal Distribution

46. Which of the following is not a time estimate used in PERT?

a) Optimistic time b) Pessimistic time c) The most likely time d) Crash time

47. Among the following network techniques, identify the one that does not allow project crashing.
a) CPM b) PERT c) CPM and PERT d) Poisson distribution

48. Which of the following is not a phase of project management?

a) Project planning b) Project scheduling c) Project controlling d) Project being

49. _________ are used to represent activity in a network diagram.

a) Circles b) Squares c) Rectangles d) Arrows

50. What is the other name of intangible costs?

a) Hidden Costs b) Prevention Costs c) Appraisal Costs d) Internal Failure Costs

51. Which of the following does not fall under the category of Hidden Costs?
a) Potential loss sales b) Loss of customer goodwill
c) Offsetting customer dissatisfaction d) Marketing research
52.Those who are not currently using the product but have the capability of becoming customers in future are
called __________
a) Potential Customers b) Hidden Customers c) Suppliers d) Processors

53. Which among the following is not a factor influencing customer perception of quality before making a
purchase?
a) Company’s brand name and image b) Opinions of friends
c) Spare parts availability d) Published Test Results

54. Which of the following cannot be considered as a technique to gather information about customer needs?
a) Customer meetings b) Tracking customer complaints
c) Government or Independent Laboratory Data
d) Waiting for customer to come and tell about their needs
55._________ is the set of activities performed by an organization used to satisfy the customer and their
needs.
a) Customer satisfaction b) Customer service c) Customer needs d) Customer delight

56. What is the primary goal of financial management

a) to maximize the return b) to minimize the risk
c) to maximize wealth of owners d) to maximize profits.

57. Which of these is not a part of Capital Structure?

a) Equity Shares b) Debentures c) short term borrowings d) Bonds

58. Capital Structure refers to which of the following options:

a) Current assets and current liabilities b) Shareholders equity
c) Long term debt, preferred stock and common stock options d) None of the above

59. The main aim of capital structure is to:

a) Maximise owner’s return and minimise the cost of capital
b) Maximise owner’s return and maximise the cost of capital
c) Minimise owner’s return and minimise the cost of capital
d) Minimise owner’s return and maximise the cost of capital

60. The process of financing the assets of a business is known as:

a) Asset Structure b) Owners Structure c) Financial Structure d) Capital Structure

61. Which of the following options is a part of the Capital Structure of a company?
a) Short-term borrowings b) Accounts payable c) Equity Shares d) None of the above

62. In an organisation, the shareholders’ wealth is represented by:

a) The salary paid to employees b) The market price of a share
c) The book value of a firm’s assets d) None of the above

63. The market price of an equity share is determined by:

a) The president of a company b) The board of directors
c) Buyers and sellers of those shares d) The stock exchange where those shares are getting traded

64. The corporate income which is given to the shareholders as a return on investment is known as
a)Share b) Dividends c) income d) Profit

65. Dividend can be paid in the form of

a) Share b) Security c) Cash d) All of the above
66. The concept of financial management is
a) Profit maximization
b) All features of obtaining and using financial resources for company operations
c) Organization of funds
d) Effective Management of every company
67. GST is a consumption of goods and service tax based on.
a) Development b) Dividend c) Duration d) Destination

68. The finance manager is accountable for.

a) Earning capital assets of the company b) Effective management of a fund
c) Arrangement of financial resources d) Proper utilisation of funds

69. The capital budget is associated with.

a) Long terms and short terms assets b) Fixed assets c) Long terms assets d) Short term assets

70. Safety stock + EOQ is equal to:

a) Average inventory b) Normal maximum inventory
c) Absolute maximum inventory d) Order point

71. The name for an order size that minimizes inventory ordering and carrying costs is:
a) Order point b) safety stock c) EQO d) EOQ

72. Which one of the following is not an ordering cost?

a) Clerical and administrative cost of purchasing, accounting and goods reception
b) Unloading costs
c) Transportation costs
d) None of the above

73. Which one of the following is not a carrying cost?

a) Storage charges b) Material handling costs
c) Stores staffing, equipment, maintenance and running costs d) Transportation costs

74. Extra inventory carried to serve as insurance against fluctuations in demand is called
a)EOQ b) Wastage inventory c) Safety stock d) ordering point

75. To achieve ___ in purchasing and transportation, goods may be purchased in larger quantities than the
actual demand.
a) Continuation b) Quality c) Cost efficiency d) Potential value

76. Which of the following is the objective of the enterprise resource planning system?
a) Manage purchase orders b). Control the flow of dependent demand inventories
c) Organise external management information d) Balance supply and demand

77. In the ABC Analysis system the B category stands for___.

a) Outstanding importance in value b) Comparatively unimportant in value
c) Comparatively important in value d). Average importance in value

78. Which among the following components is calculated as the sum of the fixed costs that happen each time
an item is ordered? a) Carrying cost b) Order cost c) Holding cost d) Storing cost
79. A company that maintains a sufficient safety margin by having extra inventory against certain situations is
termed as ___. a) Inventory b) lot size c) safety stock d) lead

80. Which among the following costs is the expense of storing inventory for a specified period of time?
a) Purchasing cost b) Carrying cost c) Financial cost d) Storing cost

81. The expense of shifting the packed orders into vehicles that would ship them is known as ___.
a) Shipping cost b) Packing cost c) Loading cost d) Picking cost

82. Which of the following is not an inventory?

a) Raw Materials b) Finished Products c) Work-in-Progress d) Material Management

83. What is the full form of GST?

a) Goods and Supply Tax b) Goods and Services Tax c) General Sales Tax d) Government Sales Tax

84. GST was implemented in India from

a) 1st January 2017 b) 1st April 2017 c) 1st March 2017 d) 1st July 2017

85. GST is a consumption of goods and service tax based on

a) Development b) Dividend c) Destiny d) Destination

86. Income Tax Act was passed in the year………. a) 1934 b) 1956 c) 1961 d) 1972

87. Income tax is a a) Professional tax b) Direct tax c) Indirect tax d) Service tax

88. Assessment year is the period of 12 months commencing from ……………. Every year.
a) 1st March b) 31st March d) 1st April d) 30th April

89. Working capital is also known as

a) Current assets b) Operating capital c) Projecting d) Operation capital

90. The basic current liabilities include

a) Accounts payable and bills payable b) bank overdraft
c) Outstanding expenses d) all of the above.