SAMPLE- Multiple Choice Questions (MCQs)

Sub: - Purchasing and Storekeeping

Class:- M.com –I (Sem – V)

Prepared by

Dr. Rupesh Dubey Assistant Professor Dept- Commerce

K.M. Agrawal College, Kalyan.

1. Material management deals with all aspects of materials supply and utilisation as well as

cost the definition given by

a. Peter baily

b. P. Gopal krishan

c. P. R gokaran

d. N. K Nair

2. IMM stands for

a. Integrated management money

b. Integrated material management

c. Integrated money management

d. Integrated supply management

3. Which one is an important features of material management is to acquire material

according to organizational needs.

a. Material acquisition

b. Storage

c. Material handling

d. Warehousing

e.

4. In a manufacturing organisation the important input are men, machine and?

a. Market

b. Method

c. Material

d. Money

5. Which function is concerned with the movement of materials within a manufacturing

context?

a. Inventory control

b. Quality control

c. Material handling

d. Storage

6. A high inventory turn-over ensures lower storage and what?

a. Carrying cost

b. Cost of production

c. Inventory control

d. Quality control

7. Which department function is to supply scrap and disposals?

a. Management

b. Material management

c. Quality control

d. Warehousing

8. What is concerned with safeguarding of undertaking property in the form of materials and

balance in stock?

a. Accounting control

b. Quality control

c. Transaction record

d. Operation control

9. What is concerned with maintaining materials at the optimum level keeping in view the

operation requirements and the financial resources of the resources?

a. Quality control

b. Operating control

c. Inventory control

d. Cost of material

10. ROI stands for

a. Role of institution

b. Return on investment

c. Return on money

d. Return on interest

11. Which is one of the important factor of material management

a. Utilization of proper resources

b. Utilization of natural resources

c. Utilization of material

d. Utilisation of cost per use

12. From the following the word ‘budget’ is derived from French word called

a. Buguety

b. Baguette

c. Buguetti

d. Baguette

13. On which dealing ‘customer credit rating’ depends

a. Past

b. Present

c. Future

d. Other

14. Which codification system is more commonly used?

a. Alphabetical

b. Decimal

c. Numerical

d. Alpha numeric

15. Which one of the following is also known as semi-finished goods

a. Finished

b. Process

c. Semi-finished

d. Work0in-process

16. A fixture is a work holding or support device mostly used in which industry

a. Manufacturing

b. Textile

c. Furniture

d. Software

17. MRO stands for

a. Materials requirement planning

b. Materials resource planning

c. Material required for planning

d. Material resource plan

18. On which basis of data available in computer the selection of best supplier can be done.

a. Inventory database

b. Supplier database

c. Product database

d. Stock database

19. Which means the consumer who buys goods for their own consumption?

a. Ultimate buyer

b. Industrial buyer

c. Agents

d. Government buyer

20. The ultimate consumer is one on whom depend the whole?

a. Market

b. Economy

c. Product

d. Industry

21. Middleman is not the buyer and not the?

a. Buyer

b. Employees

c. Consumer

d. Manufacturer

22. Which types of consumer are not regular consumer but they do buy seasonally and are easy

handle as they are sure to buy?

a. Shy consumer

b. Impulsive consumer

c. Seasonal consumer

d. Organised consumer

23. Which types of consumer are unplanned in decision making?

a. Discount-driven consumer

b. Impulsive consumer

c. Seasonal consumer

d. Talkative consumer

24. Which types of customer who more talkative and usually friendly.

a. Discount-driven consumer

b. Impulsive consumer

c. Seasonal consumer

d. Talkative consumer

25. From the following which types of customers more determined and strong in decision-

making.

a. Aggressive customer

b. Dual minded customer

c. Impulsive customer

d. Decisive customer

26. From the following which types of customer such kinds of consumers are confused in buying.

e. Aggressive customer

f. Dual minded customer

g. Impulsive customer

h. Decisive customer

27. Purchasing manager should be optimistic as purchasing is

a. Motivation

b. Role

c. Rule

d. Fluctuating

28. Dealing with suppliers both in the private as well as public sector required what on the part

of buyer.

a. Tactfulness

b. Dependability

c. Optimism

d. Self-motivation

29. From the following which is the main factor in timely execution of Industrial project.

a. Sales

b. Purchase

c. Supply

d. Demand

30. Purchasing transaction is a contract between?

a. Business and buyer

b. Seller and buyer

c. Industries and sellers

d. Seller and business

31. Which policies are associated with procurement of material through foreign collaboration

from government undertaking?

a. Sales

b. Transaction

c. Purchase

d. Supply

32. From following which is called supplier development.

a. Industry development

b. Customer development

c. Competitor development’

d. Vendor development

33. Which directories give on the address, regional offices, name, types and range of products

and address of dealers of agents?

a. Trade

b. Telephone

c. Purchase

d. Suppliers

34. Which rating is the result of a formal vendor evaluation system.

a. Development

b. Vendor

c. Agent

d. Supplier

35. Scientific purchase begins with

a. Indenting for materials

b. Ordering

c. Inspection

d. Selection of the suppler

36. The types of buying most suitable for C strategy of items of inventory is

a. Forward buying

b. Tender buying

c. Blanket order

d. System order

37. The document prepared on receipt of material is store is known as

a. MRN

b. GRn

c. Challan

d. Bill of materials

38. A document that contains a precise description of the goods is known as a

a. Weight list

b. Packing list

c. Commercial invoice

d. Certificate of origin

39. Which cycle is important because customers need different information at each stage of the

process?

a. Sales

b. Purchase

c. Desired

d. Demand

40. RFP stands for

a. Rules for suppliers

b. Request for payment

c. Request for proposal

d. Request for purchasing

41. PQQ stands for

a. Pre-qualification questionnaire

b. Pre- quantity quality

c. Pre-questionnaire qualification

d. Pre-quality quantity

42. The method of purchasing depends on which condition.

a. Product

b. Company

c. Competitors

d. Market

43. In which purchasing investment in inventory carrying cost is reduced to a great extent.

a. Centralised

b. Decentralised

c. Group

d. Individual

44. The tem speculation has been derived from which Latin word

a. Speculate

b. Speculate

c. Specualte

d. Specalatty

45. Which is important shipping document necessary and useful in export import trade

transaction?

a. Letter of credit

b. Certificate of origin

c. Bill of entry

d. Bill of loading

46. Which of the following is not true of a letter of credit?

a. It is a document

b. Issued by a bank

c. At the request of the exporter

d. The bank agrees to honor a draft drawn on the importer

47. Which of the following trade policies limits specified quantity of goods to be imported at one

tariff rate?

a. Quota

b. Import tariff

c. Specific tariff

d. Unique tariff

48. A tariff-

a. Increases the volume of trade

b. Reduces the volume of trade

c. Has no effect on volume of trade

d. Increases the business

49. Purchasing function provides what to he factory without which wheels of machines cannot

move.

a. Materials

b. Finished goods

c. Semi-finished goods

d. Assets

50. Purchase records does not include the following

a. Registration with vendors

b. Information of suppliers to be maintained

c. Records of all the materials purchased

d. Balance sheet

SAMPLE - Multiple Choice Questions

Sub:- Business Ethics

Class: M.com-I (Sem-I)

1. The term ethics is derived from the Greek word _______.

a) Ethics

b) Ethos

c) Social

d) Nature of Ethics

2. ________ is the essence of ethical behavior.

a) Normative Science

b) Ethics

c) Morality

d) Legality

3. ________ is necessary for ethics.

a) Discipline

b) Rules & Regulations

c) Principles

d) Behavior

4. Ethics represents a system of _______ controls.

a) External

b) Internal

c) Neutral

d) Professional

5. _______ can be described as a core set of values and beliefs.

a) Humanity

b) Ethics

c) Society

d) Morality

6. _______ relates to what is good or bad.

a) Ethics

b) Morals

c) Principles

d) Law

7. _______ ethics incorporates research from the fields of anthropology, psychology and

sociology.

a) Descriptive

b) Normative

c) Specific

d) Contemporary

8. _______ is the branch of ethics which consists of the analysis of specific, controversial

moral issues.

a) Normative ethics

b) Descriptive ethics

c) Applied ethics

d) Virtue ethics

9. _______ is a concept of the ethics is not stationary but keeps changing with time.

a) Contemporary ethics

b) Contextual ethics

c) Utilitarian ethics

d) Contract ethics

10. _______ ethics is person rather than action based.

a) Moral

b) Analytic

c) Virtue

d) Cognitive

11. _______ principals form the basis for many social contract theories.

a) Contextual

b) Contract

c) Contemporary

d) Ethical

12. _______ refers to the application of everyday moral or ethical norms to business.

a) Business ethics

b) Moral ethics

c) Ethical ethics

d) Utilitarian ethics

13. Business ethics deals with ________ in business environment.

a) Ethics

b) Norms

c) Morality

d) Honesty

14. In _______ level , the role of business on an international scale.

a) Micro

b) Macro

c) Corporate

d) Individual

15. _______ principle respecting human rights.

a) Autonomy

b) Reality

c) Human right

d) Cultural

16. _______ increases the chance of making right decision.

a) Knowledge

b) Ethics

c) Business

d) Behavior

17. Corporate governance is about _____ conduct in business.

a) Transparency

b) leadership

c) Ethical

d) Management

18. ______ is a source of a competitive advantage and critical to economic and social

progress.

a) Good governance

b) Corporate governance

c) Board of directors

d) Shareholders

19. The audit committee should have minimum _____ members.

a) One

b) Three

c) Five

d) Seven

20. SEBI was established as a non-statutory in ______.

a) 1954

b) 1985

c) 1992

d) 1998

21. _______ are considered to owe some degree of social responsibility for their actions.

a) Corporations

b) Management

c) Industries

d) Private sector

22. ________ goals may be prescribed for different divisions, departments and job positions. a) Political responsibility b) Social responsibility c) Legal responsibility d) Financial responsibility 23. . ______ requires an environment where innovation and independent thinking are welcomed. a) Management b) Individual c) Industry d) Corporate Social Responsibility

24. ______ played an important role in supporting the concept of CSR. a) OSHO b) RBI c) SEBI d) OECD 25. The convergence of Corporate Social Responsibility and _____ is growing rapidly. a) Management b) Corporate Governance c) Financial Market d) Industries 26. _____ is the need for protection to IPR. a) Plant varieties b) Geographical Indication c) Trademarks

d) Support Income Generation Strategy

27. _____ is a type of trademark. a) Specific b) Geographical c) Descriptive d) Framework 28. What guides and shapes the attitudes and behavior of people.

a. Rules b. Ethics c. Culture d. Custom

29. Work ethos refers to certain norms relating to

a. Shareholder behavior b. Worker behavior c. Supplier behavior d. Company’s behavior

30. What is guiding principles in life and every person has his own value system that helps him in his behavior and action throughout his life.

a. Custom b. Values c. Culture d. Ethics

31. Ethical personnel policies and practices must be adopted by manager in regard with

a. HR b. Finance c. Marketing d. Research

32. Which of the following is developed on basis of various customs, traditions and habits over a period of time are called

a. Ethos b. Values c. Religion d. Rules

33. Ahimsa refers to

a. Violence b. Killing c. Injury d. Non-violence

34. Good Advertising refer to

a. Good advertising b. Suituational advertising c. Opportunities advertising d. Honest advertising

35. Indian Accounting standard (Ind AS) 33 in regard to

a. Agriculture b. Earnings per share c. Income taxes d. Inventories

36. Indian Accounting standard (Ind AS) 19in regards to a. Shareholder benefits b. Employee benefits c. Creditor benefits d. Government benefits

37. What refers to “Goodwill to fellow member fo the human race; especially an active to promote human welfare.”

a. Philanthropy b. Charity c. Corporate reputation d. Corporate welfare

38. . ______ focuses on the idea that a business has social obligation above and beyond

making profit.

a. Corporate social responsibility

b. Industry

c. Banks

d. Managers

39. _______ are considered to owe some degree of social responsibility for their actions.

a. Corporations

b. Management

c. Industries

d. Private sector

40. ________ is the concept of corporate responsibility framework. a. Cultural values

b. Legal dimension

c. Illegal dimension

d. Private dimension

41. ________ goals may be prescribed for different divisions, departments and job positions.

a. Political responsibility

b. Social responsibility

c. Legal responsibility

d. Financial responsibility

42. _________ is places emphasis on meeting the needs of present and future generations. a. Sustainable development

b. Education

c. Health

d. Textile

43. Workers Rights Consortium aim objective is to improve labour conditions in _______ suppliers factories.

a. Sportswear

b. Engineering

c. Chemicals

d. Textile

44. The ______ approach to formal corporate ethics initiatives is proactive and

inspirational.

Rules

a. Compliance

b. Principles

c. Values

45. Codes of conduct and codes of ethics

a. Are formal statements that describe what an organization expects of its

employees.

b. Become necessary only after a company has been in legal trouble. c. Are designed for top executives and managers, not regular employees.

d. Rarely become an effective component of the ethics and compliance program.

2.

46. Stakeholders are considered more important to an organization when: a. they can make use of their power on the organization b. they do not emphasize the urgency of their issues c. their issues are not legitimate d. they can express themselves articulately

47. Who is organisational stakeholder?

a. Creditor b. Competitiors c. Contractor d. Government

48. Which of the following does the term Corporate Social Responsibility relate to?

a. Ethical conduct

b. Environmental practice

c. Community investment

d. Ethical conduct, environment practice & community investment

49. What does Milton Friedman believe to be the sole responsibility of business?

a. The only social responsibility of business is to its shareholders.

b. Managers should act in ways that balance the interest of society & shareholders

c. The primary responsibility organizations have is to its employees.

d. The primary responsibility organizations have is to its stakeholders.

50. In ___________ C.H. Chen presented a procedure for identifying a CSR model with

best goodness of fit.

a. 2009

b. 2010

c. 2011

d. 2012