2. A: EOQ ,
B : value analysis
C: Accounting
D : Codification
5: The condition of destination and mode of delivery is specified in :
A; Indent
B : specification
C : Stores receipt
D : Purchase Order
6: After unloading the material at stores , it is initially kept at
A : Inspection Bay
B ; outside the stores
C: inside the stores
D ; send to the indentor
7. While taking delivery of material , the delivery challan should be
compared carefully with :
A ; Indent
B; technical specfication
C: purchase Order
D : receipt document
8. After accepting the receipt of material in the daily material receipt ,
to whom inspection notice is served ;
A . Stores
B: Material
C : Finance
D : Indentor
9 : what is the time given for inspector to inspect the material put at
the inspection bay at store ?
A : 2 days
3. B: 3 days
C : 5 days
D ; 6 days
10 : Which of the following is not indicated in the Material Control
Card ( Stock) ?
A : receipt
B : Issue
C : Balance quantity
D : Indent no.
11 : Which is the basic document for making payment to the
suppliers ?
A : material receipt register
B : purchase order
C : GRS
12. ; Physical verification of stores is not essentially resorted for the
purpose ;
A : actual physical balances of stock
B : actual requirement of stock
C : to identify slow moving and non-moving items
D : the receipt , issues and the stocks to be accounted
13 : Which of the following is not the reason for stock discrepancies
?
A ; weighted differences
B : measurement differences
C : Improper storage
D: none of the above
14 ;By whom the surprise verification be done ?
A : a team of three officers comprising Finanace deparment ,material
department , purchase department
4. B ; a team of at least two officers drawn from departments other
than materials department .
C; two senior officer of material department
D ; By GM/ Head of the Plant .
15. ; Stock verifier , appointed specifically for the purpose are under
control of which authority ?
A : General Manager
B ; HOD material
C : CFM/ Head of Finance
D: HOD purchase
16 : Which of the following can be termed as Preventive method of
controlling inventories ?
A: Watch on the actual receipt
B : accurate forcasting and scheduling
C: monitoring stock levels
D ; quick disposal of slow moving and obsolete stocks .
17 ; which of the following can be termed as corrective action of
controlling inventories?
A : Reduction of procurement lead time
B : Expeditious paper work
C : Monitoring stock level
D : proper material planning and control
18. If you take delivery from railways at a later date than prescribed
the penalty imposed on is known as
a) Wharfage charge
b) Obsolete charge
c) Negligent charge
d) Demurrage charge
19. Valuation of financial year closing of stocks is known as
5. a) ABC analysis
b) XYZ analysis
c) Stock analysis
d) None of the above
20. Inventory is a term related to Contracts Management.
a) Yes
b) No
c) Cant say
d) It depends
21. The time that lapses between raising of purchase requisition by
user departments or stores and receipt and acceptance of materials
at stores for issue to user departments is known as
a) Lead time
b) Running time
c) Time gap analysis
d) None of these
22. Find the odd one out
a) ABC analysis
b) XYZ analysis
c) Work to Permit
d) VED analysis
23. CX items are those items whose available stock is exceeding
a) 15 years consumption
b) 5 years consumption
c) 10 years consumption
d) There is no such item known as CX
24. Which is not relevant to inventory
a) carrying cost
b) ordering cost
6. c) waiting cost
d) all of the above are inventory costs
25. Inventory analysis based on unit rates of items is known as XYZ
analysis.
a) True
b) False
c) Cant say
d) There is no such analysis
26. Which is related to Materials management function
a) ABC analysis
b) XYZ analysis
c) HML analysis
d) All are related
27MRN is an acronym for
a) Material Return Note
b) Material Requisition Note
c) Material Rating Number
d) Materials Required Notary certification
28. SAS in materials management stands for
a) Stores accounting system
b) Stores analysis scheme
c) Stores Acquisition system
d) None
29. Tenders invited from only one manufacturer is known as
a) Single tender
b) Open tender
c) NIT
d) None
7. 30. Categorisation method is used for rating
a) Vendors
b) Dealers
c) Customers
d) Suppliers
31. Physical stock verification is done by
a) Stores
b) Finance
c) HR
d) FQA
32. Who is responsible for stock verification for each financial year
a) Head of Project
b) Head of Materials
c) Head of O&M
d) Head of Finance
33. The most basic technique of inventory management is
a) ABC Analysis
b) ZYX analysis
c) CBA analysis
d) PQR analysis
34. Who will raise the indent for consumables
a) O&M
b) HR
c) Stores
d) Any department
35. FOR stands for
a) Free on Road
b) Finance on Road
8. c) Free on Return
d) None
36. GRS stands for
a) Goods received sheet
b) Goods receipt system
c) Godown Requisition Sheet
d) None
37. IUC classification stands for
a) Insurance, Unit assembly and consumable
b) Indented Unit costs
c) Insurance under cover
d) None
38. OEM, OMS, PAC leads to
a) Single tendering
b) Double tendering
c) NIT
d) None
39. Which is the basic document for making payment to suppliers
a) GRS
b) MTN
c) MRN
d) Payment order by supplier
40. Who will issue the Letter of Award?
a) Contract Manager
b) Head of Finance
c) Project Head
d) Any executive
41. In which of the following case lead time will be more?
9. a) LT
b) Single Tender
c) Multiple Tender
d) Open Tender
42. The acronym ROL stands for
a) Requirement of Letter of Credit
b) Reorder Level
c) Report of Loss of stock
d) None
43. The spares that wear out or get consumed while in service are
known as:
a) Consumables
b) Perishables
c) Nut and bolts
d) Accessories
44. Which one of the following is a rational technique of modern
storekeeping?
a) EOQ
b) Value Analysis
c) Accounting
d) Codification
45. The condition of destination and mode of delivery is specified in:
a) Indent
b) Specification
c) Stores Receipt
d) Purchase Order
46. While taking delivery of material, the delivery challan should be
compared carefully with:
10. a) Indent
b) Technical specification
c) Purchase Order
d) SRV
47. Which of the following is not indicated in the Material Control
Card ( Stock)?
a) Receipt date
b) Issue number
c) Balance quantity
d) Indent number
48. Which of the classification of items is based on stockvalue?
a) FSN
b) ABC
c) DEF
d) XYZ
49. Which of the following is not the reason for stock discrepancies?
a) Weighted differences
b) Measurement differences
c) Improper storage
d) None of above
50. By whom the surprise verification be done?
a) A team of three officers comprising Finanace deparment, material
department, purchase
department
b) A team of at least two officers drawn from departments other
than materials department
c) By GM/Head of Project
d) By local police
51. Stock verifier, appointed specifically for the purpose is under
control of which authority?
11. a) General Manager
b) Executive Director
c) Head of Finance
d) Head of Vigilance
52. _____________________________ is the process of planning,
procuring, storing and providing the appropriate material of the right
quality, right quality at the right place in the right time.
A. Financial management
B. Materials management
C. Operation management
D. Marketing management
53. _____________________________ is a detailed list of movable
items which are required for manufacturing products and maintaining
the equipment and machines in good working order.
A. Inventory
B. Production
C. Purchase
D. None of these
54. In ABC analysis which inventory is classified into category ‘A’
items?
A. Annual consumption cost is around 15-25
B. Annual consumption cost is around 70-80%
C. Annual consumption cost is around 5-10%
D. Annual consumption cost is around 50%
12. 55. EOQ is a formula that determines the _____________ at which
the combination of procurement costs and inventory carrying costs
are the least
A. Quality
B. Cost
C. Profit
D. Quantity
56. Which of the following is not correct assumption in calculating
EOQ?
A. The ordering cost is constant
B. The rate of demand/consumption does not change
C. The lead time is not fixed
57. The purchase price of the items does not change with quantity
i.e. no discount is available
Procurement costs consist of ______________________________.
A. Cost of receiving quotations
B. Cost of processing quotation and issuing purchase order
C. Cost of following up and expediting purchase order
D. All of these
58. Which of the following is not procurement cost?
A. Transportation cost
B. Cost of receiving, inspecting and stocking material
C. Cost of processing vendor’s invoice
D. Storage cost
59. Carrying cost consists of __________________________.
A. Interest on capital investment
13. B. Storage cost
C. Up-keep of inventory
D. All of these
60. The procurement costs
_________________________________.
A. increase as quantity ordered increases
B. decreases as quantity ordered decreases
C. decreases as quantity ordered increases
D. None of these
61. The main function of purchasing department is:
1. Keep record of reliable and also alternative source of supply
2. Maintain update pricelist of all material
3. Ensure uninterrupted supply of material
4. Preparation of purchasing budget
A. All
B. Only 1 and 2
C. Only 2 and 3
D. Only 2 and 4
62. Arrange the following in chronological order while purchasing
material
1. Receive purchase requisition from department
2. Call for quotation
3. Inspect the material
4. Place purchase order
A. 1,2,,4,3
B. 3,4,2,1
C. 2,1,4,3
D. 4,2,1,3
14. 63. Arrange the following in chronological order while purchasing
material.
1. Place order
2. Payment of bill
3. Receive material
4. Inspection
A. 1,3,2,4
B. 1,2,3,4
C. 1,3,4,2,
D. 4,3,1,2
64. __________ is a planning technique that calculates material
requirement and schedule supply to meet changing demand across
all product and parts.
TQM
ISO
MRP
QA
65. Which of the following is function of MRP?
A. To calculate what parts should be made or bought
B. To calculate how many of these parts do we need
C. To calculate when must these parts be available
D. All of these
66. Which of the following statement is wrong about MRP?
A. MRP insures that materials and components are available on the
right quantities and at the right time
B. MRP takes information from the bill-of-material (BOM)
C. MRP takes information from MPS
15. D. None of these
67. The _________________ keeps track of the inventory status for
each item in the database.
A. Lead time
B. BOM
C. Inventory record file
D. Product structure
68. ____________ is a computer-based system decision to
streamline and integrate various operation and information flows in
the company.
A. MRP
B. ERP
C. MPS
D. TQM
69. Economic order quantity of material takes into account ordering
cost and ______________________.
A. Carrying cost
B. Lead time
C. re- order level
D. Maximum level
70. In ABC system of inventory control, the material is divided in A, B
and C categories on the basis of _________________________.
A. Material quantity
B. Consumption value of material
C. Re-order level of each material
D. Maximum level of material
16. 71. Order cost and carrying cost are _____________ cost in nature.
A. Fixed
B. Variable
C. Semi-variable
D. Indirect
72. Freight cost means
________________________________________________.
A. cost of packing of material.
B. cost to be paid to customer.
C. cost required for movement of material
D. inspection cost
73. Inventory control means
________________________________________________.
A. timely availability of materials
B. value analysis of costly materials
C. availability of material at low cost
D. all of these
74. Finished goods means goods waiting for dispatch to
__________________.
A. customer
B. supplier
C. purchase
D. none of these
75. Inventory consists of
______________________________________________________
_.
A. raw material
17. B. indirect material
C. work in progress
D. all of these
76. ABC analysis helps senior manager to control
_________________________.
A. inventory cost
B. purchase cost
C. total cost
D. none of these
77. Purchasing is one of the function of ___________________
management
A. production
B. materials
C. design
D.none of these
78. ERP stands for
___________________________________________.
A. enterprise reform planning
B. enterprise resource planning
C.enterprise resource plan
D.none of these
79. ________________________ is the collective stock of items
which is required for routine functioning of industry.
A. Purchase
B. Inventory
C. Tool room
D. None of these
18. 80. The stock of material, maintain in order to avoid ‘no stock’
situation is called as _____________________.
A. additional stock
A. extra stock
C. buffer stock
D. none of these
81. Procurement cost per order includes
___________________________________.
A. Cost of calling quotations
B. Cost for receiving material
C. Cost of inspection
D. All of these
82. Buffer stock is nothing but __________________________.
A. new stock
B. safety stock
C. confused inventory
D.unnecessary stock
83. _____________ include raw material and semi-finished products
supplied by another firm and which are raw items for the present
industry.
A. Raw inventories
B. In-process inventories
C. Finished inventories
D. Indirect inventories
84. ____________________ involves semi-finished goods various
stage of manufacturing cycle.
A. Raw inventories
19. B. In-process inventories
C.Finished inventories
D.Indirect inventories
85. What is an assumption in EOQ?
A. Lead time is known and is constant
B. Total cost
C. Primary cost
D. All of these
86. _______________ avoid effects like price fluctuation and
shortage of material in the market.
A. Buffer stock
B. EOQ
C. Both a and b
D. None of these
87. The purchasing function plays the role of mediator between
____________ and __________________ for purchase of material.
A. vendors, control
B. organization, control
C. vendors, organization
D. none of these
88. The important functions of purchase departments are
__________________________.
A. preparation of purchasing budget
B. track pending purchase order
C. issue and follow up purchase order
D. all of these
20. 89. __________________________ is set of activities that ensure
right material at right quality and quantity in right time.
A. Procurement
B. Purchasing
C. Production
D. Placement
90. ________________________ is an intelligent activity includes
decision making, selection of vendors etc.
A. Purchasing
B. Purchasing department
C. Procurement
D. Purchase order
91. _____________________________________ is made up of list
of the sub-assemblies as well as components that makes up the end
product.
A. Master production schedule
B. Inventory record file
C. Bill-of-material
D. Material resource Planning
92. Inventory record file also called as
____________________________________.
A. Item master file
B. Inventory record file
C. Bill-of-material file
D. None of these
93. Which type of fire extinguish do you use to fight an electrical fire
if a carbon dioxide extinguisher is unavailable?
21. 1. Water
2. Wet Chemical
3. Foam
4. Dry Powder
94. A water fire should be on fires started by which of the following
materials?
1. Materials such as gasoline that are highly flammable
2. Materials made up of combustible metals
3. Fires caused by electricity
4. Materials such as paper, textiles, wood and other solid
materials
95. __________ fire extinguishers are specifically designed in order
to tackle a class F fire.
1. Carbon Dioxide
2. Wet Chemical
3. Foam
4. Water
96. If there is a black coloured band above the fire extinguisher; what
does the colour of the band tell you?
1. That this extinguisher is a wet chemical fire extinguisher
2. That this extinguisher is a carbon dioxide fire extinguisher
3. That this extinguisher is broken and should not be used
4. That this extinguisher contains flammable materials
97. Which of the following colours allows you to identify a foam fire
extinguisher?
1. Blue
2. Red
3. Yellow
22. 4. Cream
98. Which of the following colours can be found in a band above a
wet chemical fire extinguisher?
1. Yellow
2. Cream
3. Blue
4. Red
99. You should avoid using _________________ fire extinguishers
when extinguishing a fire in a confined space.
1. Dry Powder Fire Extinguishers
2. Water Fire Extinguishers
3. Foam Fire Extinguishers
4. Wet Chemical Fire Extinguishers
100. Which of the following fire extinguishers would you use in order
to extinguish an electrical fire?
1. Water Fire Extinguisher
2. Foam Fire Extinguisher
3. Wet Chemical Fire Extinguisher
4. Carbon Dioxide Fire Extinguisher
101. While you are using a fire extinguisher containing to carbon
dioxide; what happens to the nozzle?
1. It becomes extremely hot
2. It becomes warm
3. It becomes slightly cold
4. It becomes extremely cold
102. A dry powder fire extinguisher can be found with a
_______________ band above it.
23. 1. Yellow
2. Blue
3. Black
4. Cream
103. Class A materials do not include which of the following?
1. Wood Materials
2. Propane Materials
3. Plastic Materials
4. Paper Materials
104. A dry powder fire extinguisher has a ________ band located
above it.
1. Cream
2. Blue
3. Yellow
4. Red
105. Which of the following types of materials is responsible for
fueling a Class A fire?
1. Oils that you typically cook with
2. Flammable liquids
3. Electrical Equipment
4. Wood, plastic, paper, and other kinds of solid materials
106. Where should you go if you hear the fire alarm going off?
1. To the supervisor’s office in order to inform him what is happening
2. To the fire assembly point
3. To the break room to make sure everyone got out
4. Home, the work day is over
24. 107. Fires that are fueled by _________ require you to use water fire
extinguishers in order to fight them.
1. Live electricity
2. Gasoline, kerosene, and other flammable liquids
3. Solid materials; such as wood, paper, and textile
4. Propane, butane, and other flammable gases
108. Which of the following is correct when it comes to the type of
fire extinguishers you should avoid while fighting a fire in a confined
space?
1. Carbon Dioxide and Dry Powder Fire extinguishers should
not be used
2. Carbon Dioxide and Water Fire Extinguishers should not be used
3. Water and Dry Powder Fire extinguishers should not be used
4. Only a Dry powder fire extinguisher should not be used.
109. Why is it important that you tend the nozzle when you have
finished using a fire extinguisher containing carbon dioxide?
1. Because the nozzle gets extremely hot making it impossible to
use
2. This is not a requirement
3. Because the nozzle gets warm, making it impossible to use
4. Because the nozzle gets extremely cold, making it impossible
to use.
110. At what point do you sound the fire alarm?
1. After you try to extinguish it
2. As soon as you see it
3. After talking with your supervisor
4. After you grab all tools from the site
25. 111. Water fire extinguishers have a _________ located above
them?
1. Red coloured band
2. Blue coloured band
3. Black coloured band
4. Green Colored band
112. When fighting an electrical fire, which of the following should not
be used?
1. Water Fire Extinguisher
2. Foam Fire Extinguisher
3. Dry Powder Fire Extinguisher
4. Neither A nor B should be used
113. What class of fire was a wet chemical fire extinguisher
specifically designed to fight?
1. Class A fires
2. Class D Fires
3. Class F Fires
4. Class B Fires
114. Which of the following materials can be classified under
Category D?
1. Titanium
2. Aluminum
3. Propane
4. Both A & B
115. Wood, plastic, and paper are which of the following:
1. Class B Materials
2. Class C Materials
26. 3. Class A Materials
4. Class F Materials
116. In the event of a fire, everyone is responsible for:
1. Informing the supervisor of what is happening
2. Pulling the fire alarm if they see a fire
3. Making sure everyone gets to the fire assembly point safely
4. None of the above
117. What is the name of the safety sign?
A Warning sign
B Mandatory sign
C Prohibition sign
D First Aid Box
118. What is smothering in extinguishing of fire?
A Adding the fuel element to the fire
B Removing the fuel element from the fire
C Using of water to lower the temperature
D Isolating the fire from the supply of oxygen
119. Which is the physical hazard?
27. A Smoking
B Vibration
C Corrosive
D Radio active
120. Which is the correct sequence of operation to be performed
when using the fire extinguisher?
A Pull, Aim, Squeeze, Sweep
B Pull, Aim, Sweep, Squeeze
C Push, Arrange, Squeeze, Sweep
D Push, Arrange, Sweep, Sequence
121. What is the back-ground colour of warning signs in the basic
category?
A Blue
B White
C Yellow
D Green
122Which type of fire extinguisher is used for fire on electrical
equipment?
A Halon type
B Foam type
C Gas cartridge type
D Stored pressure type
123. Which is the waste disposal method that produces heat?
A Recycling
B Composting
C Incineration
D Waste compaction
28. 124. Which Personal Protective Equipment (PPE) is used for the
protection from fumes?
A Apron
B Goggles
C Ear mask
D Nose mask
125. What is the full form of BIS?
A Board of Indian Standard
B Bureau of Indian Standard
C Board of International Standard
D Bureau of International Standard
126. What is starving in extinguishing of fire?
A Adding fuel to the fire
B Using water to cool the fire
C Removing fuel element from the fire
D Preventing oxygen supply to the fire
127. Which of the following is not a chemical-related health hazard?
A. Carcinogenicity
B. Reactivity
C. Corrosivity
D. Toxicity
128. This hazard symbol is used when something is:
29. A. Corrosive
B. Almost empty
C. Flammable
D. Highly acidic
129. On which of the following types of surfaces should a Class B
fire extinguisher
not be used?
A. Paint
B. Grease
C. Oil
D. Plastic
130. Which type of fire extinguishing system is most commonly used
to protect
areas containing valuable equipment such as data processing
rooms, telecommunications switches, and process control rooms?
A. Fixed extinguishing systems
B. Portable extinguishing systems
30. C. Hose extinguishing systems
D. It’s up to the discretion the employer
131. The acronym “PASS” used for fire extinguisher operation stands
for:
A. Pick up, Aim, Squeeze, Squirt
B. Push, Alarm, Swirl, Sweep
C. Pull, Aim, Squeeze, Sweep
D. Pull, Aim, Swirl, Swat
132. Flexible cords may not be be used for which of the
following:
A. Wiring of cranes and hoists
B. Elevator cables
C. To prevent transmission of noise or vibration
D. As a substitute for permanent wiring
133. The effects that an electrical shock has on your body can
depend on:
A. Its current
B. The presence of moisture in the environment
C. Its duration
D. All of the above
134. A document which is a classified record of material issues,
returns and transfers
(a) Materials Requisition Note
(b) Materials Return Note
(c) Materials Transfer Note
(d) Materials Issue Analysis Sheet
135. This is essential to make the cost ledger 'self-balancing’.
31. (a) General Ledger Adjustment Account
(b) Stores Ledger Control Account
(c) Work-in-Progress Ledger
(d) Finished Goods Control Account
136. This is debited with all purchases of materials for the stores and
credited with all issues of
Materials
(a) General Ledger Adjustment Account
(b) Stores Ledger Control Account
(c) Work-in-Progress Ledger
(d) Finished Goods Control Account
137. In this, cost of materials, wages and overheads of each job
undertaken is posted.
(a) General Ledger Adjustment Account
(b) Stores Ledger Control Account
(c) Work-in-Progress Ledger
(d) Finished Goods Control Account
138. This represents the total value of finished goods in stock.
(a) General Ledger Adjustment Account
(b) Stores Ledger Control Account
(c) Work-in-Progress Ledger
(d) Finished Goods Control Account
139. Purchases for special jobs is debited under non-integrated
system to
(a) Work-in-progress ledger control account
(b) Cost ledger control account
(c) Stores ledger control account
32. (d) Purchases account
140. The raw materials issued to a job were overestimated and the
excess is being sent back to the materials store. What document is
required?
(a) Stores credit note
(b) Stores debit note
(c) Materials returned note
(d) Materials transfer note
141.What is a cost ledger control account?
(a) An account in the cost ledger to record financial accounting
items
(b) An account in the financial ledger to record cost accounting items
(c) An account that summarises outstanding payables balances
(d) An account that summarises outstanding receivables balances
142.The advantages of maintaining cost control accounts include the
following:
(a) facilitate prompt preparation of costing profit and loss account
(b) help management in policy formulation
(c) facilitate internal check
(d) all of the above
143.Materials lost in stores due to fire is
(a) a part of normal loss and hence part of cost
(b) capitalized
(c) a part of abnormal loss and hence excluded from cost
(d) transferred to the next period
144.A credit to Work in Process Inventory represents
33. (a) work still in process
(b) raw material put into production
(c) the application of overhead to production
(d) the transfer of completed items to Finished Goods Inventory
145. A journal entry includes a debit to Work in Process Inventory
and a credit to Raw Material Inventory.The explanation for this would
be that
(a) indirect material was placed into production
(b) raw material was purchased on account
(c) direct material was placed into production
(d) direct labour was used for production
146. The journal entry to apply overhead to production includes a
credit to Manufacturing Overhead control and a debit to
(a) Finished Goods Inventory
(b) Work in Process Inventory
(c) Cost of Goods Sold
(d) Raw Material Inventory
147.The use of indirect material would usually be reflected as an
increase in
(a) Stores control
(b) Work in process control
(c) Manufacturing overhead applied
(d) Manufacturing overhead control
148.A credit to the Manufacturing overhead control account
represents the
(a) actual cost of overhead incurred
(b) actual cost of overhead paid this period
(c) amount of overhead applied to production
34. (d) amount of indirect material and labour used during the period
149.The journal entry to record the use of direct materials on jobs is
to debit work in process inventory and credit
(a) raw materials inventory
(b) finished goods inventory
(c) manufacturing overhead
(d) wages payable
150.Cost of goods sold is debited and finished goods inventory is
credited for
(a) purchase of goods on account
(b) transfer of goods to the finished goods storeroom
(c) transfer of materials into work in process inventory
(d) the sale of goods to a customer
151.Under which of the following situations is finished goods
inventory debited and work in process inventory credited?
(a) Transfer of goods to the finished goods storeroom
(b) Purchase of goods on account
(c) Transfer goods out of the factory
(d) Transfer of material to work in process inventory
152.Under which of the following situations is raw materials inventory
credited and work in process inventory debited?
(a) We ship goods to the customer
(b) Material is transferred to the factory
(c) We transfer goods to the storeroom
(d) We purchase goods on account
153. At the economic ordering quantity level, the following is true:
35. (a) The ordering cost is minimum
(b) The carrying cost is minimum
(c) The ordering cost is equal to the carrying cost
(d) The purchase price is minimum
154. Which of the following is considered as normal loss of material?
(a) Pilferage
(b) Loss due to accident
(c) Loss due to careless handling of material
(d) None of these
155. Warehouse expense is an example of
(a) Production overhead
(b) Selling overhead
(c) Distribution overhead
(d) None of above
156. Which of the following items is not included in preparation of
cost sheet?
(a) Carriage inward
(b) Purchase returns
(c) Sales Commission
(d) Interest paid
157. Continuous stock taking is a part of-
(a) ABC analysis
(b) Annual stock taking
(c) Perpetual Inventory
(d) None of these
158. In Reconciliations Statements Expenses shown only in financial
accounts are.
36. (a) Added to financial profit
(b) Deducted from financial profit
(c) Ignored
(d) Added to costing profit
159. Which of the following is considered as accounting record?
(a) Bin Card
(b) Bill of material
(c) Store Ledger
(d) None of these
160. Direct material is a –
(a) Adiministration Cost
(b) Selling and Distribution cost
(c) All of these
(d) None of these
161. Which of the following is considered as accounting record?
(a) Bin Card
(b) Bill of material
(c) Store Ledger
(d) None of these
162.Packing cost is a
(a) Production of cost
(b) Selling cost
(c) Distribution cost
(d) It may be any or the above
163. In Reconciliations Statements, Closing Stock Undervalued in
Financial accounts is
37. (a) Added to financial profit
(b) Deducted from financial profit
(c) Ignored
(d) Added to costing profit
164. The most suitable cost system where the products differ in type
of material and work
performed is
(a) Process Costing
(b) Batch Costing
(c) Job Costing
(d) Operating Costing
165. In job costing to record the issue of direct materials to a job
which of the following
document is used?
(a) Purchase order
(b) Goods receipt note
(c) Material requisition
(d) Purchase requisition
166. In job costing, which of the following documents is used to
record the issue of direct
materials to a job?
(a) Goods Receipt Note
(b) Purchase Order
(c) Purchase Requisition Note
(d) Material Requisition Note
167. What is the safety feature that can prevent a fire in a guest
room?
38. (a) Fire Extinguisher
(b) Fire Exit chart
(c) Smoke detector
(d) Sprinkler system
168. Which of the following is a fire hazard?
(a) Cigarette
(b) Cleaning agents
(c) Damaged wires
(d) All of the above
169. What can be used to give a fire resistant property to linen?
(a) Borax
(b) CaCl
(c) Vinegar Rinse
(d) Softner
170. What is the process for handling of a small fire?
(a) RACE
(b) CCTV
(c) Raise Alarms
(d) Evacuate
171. .…………………….production control and physical distribution
are the three major operations of logistics.
a. Supply chain Management
b. Materials Management
c. Logistics Management
d. Personal Management
39. 172. Which of the following is not an area to responsibilities for a
logistics manager?
a. Inventory
b. Marketing
c. Warehousing
d. Purchasing
173. DRP stands for
a. distribution requirement planning
b. dividend requirement planning
c. distribution resource planning
d. distribution reverse planning
Answer: a. distribution requirement planning
174. ……………….includes design and administration of systems to
control the flow of materials, WIP and finished inventory to
support business unit strategy.
a. Logistics Management
b. Materials Management
c. Bill of Materials
d. Distribution Management
175. …………is the time that elapses between issuing replenishment
order and receiving the material in stores.
a. Replenishment time
b. Lead time
40. c. Idle time
d. Replacement Time
176. In Railway transportation the ownership in with…………….
a. Manufacturer
b. Third Party
c. Buyer
d. Government
177. …………….. concept is similar to the concept of unitization and
has the similar objective of space reduction
a. Logistical Packaging
b. Cube Minimization
c. Building block
d. Palletizing
178. The objective of performance measure is to achieve a
……………
a. Benchmark
b. Perfect distribution
c. Perfect order
d. Goal
179. RO-RO concept means:…………
a. Roll on – Ride Off
41. b. Ride on- Ride off
c. Roll Off- Roll on
d. Roll on- Roll off
180. ----------offers the opportunity to buy direct from the supplier with
reduced costs and shorter cycle.
a. Reintermediation
b. Countermediation
c. Contramediation
d. Disintermediation
181. The purpose of supply chain management is
a. provide customer satisfaction
b. improve quality of a product
c. integrating supply and demand management
d. increase production
182. …………..refers to supply chain practices that strive to reduce
energy and environmental footprints in terms of freight
distribution.
a. Inbound Logistics
b. Green Logistics
c. Outbound Logistics
d. SCM
42. 183. …………..involves streamlining the distribution process in terms
of physical and information efficiency.
a. Technical Integration
b. Channel Integration
c. Channel Hierarchy
d. Vertical Marketing System
184. ……………is the task of buying goods of right quality, in the right
quantities, at the right time and at the right price.
a. Supplying
b. Scrutinizing
c. Selling
d. Purchasing
185. ……………………..is the provision of service to customers
before, during and after a purchase.
a. Customer Service
b. Product Management
c. Purchase management
d. Logistics Management
186. …………..is a function of re-arranging and re- packing as per
individual orders.
a. Break- Bulk
b. Warehousing
c. Cross Docking
43. d. Sorting
187. Break-Bulk warehouse performs ………function.
a. Warehousing
b. Collecting
c. Sorting
d. Supply
188. The term ………….refers to any idle resources that can be put
to some future use.
a. Inventory
b. Warehousing
c. Logistics
d. Procurement
189. ………………is related with a single manufacturing location, not
multiple manufacturing centres.
a. Safety Stock
b. EOQ
c. ROL
d. Decoupling
190. Properly designed …………..helps in reducing total logistical
cost.
a. Logistics
44. b. Warehouse
c. Distribution
d. Logistical network
191. ……………is a kind of distribution strategy.
a. RORO
b. LASH
c. Milk Run
d. LNA
192. VMI stands for
a. Vendor material inventory
b. Vendor managed inventory
c. Variable material inventory
d. Valuable material inventory
193. The major decision areas in supply chain management are
a. location, production, distribution, inventory
b. planning, production, distribution, inventory
c. location, production, scheduling, inventory
d. location, production, distribution, marketing
194. ………….is concerned with a firm’s ability to satisfy customer’s
requirement in timely manner.
a. Minimum Inventory
45. b. Price stabilization
c. Quality
d. Rapid Responses
195. Buying according to the requirements is called …………
a. Seasonal Buying
b. Scheduled Buying
c. Tender Buying
d. Hand to mouth buying
196. Following is not type of Piggy-Back……………..
a. LASH
b. TTFC
c. COFC
d. TOFC
197. Special purpose material handling equipment are used in
………….
a. Line layout
b. Process layout
c. In-land layout
d. Warehousing
198. The ………….system should be designed after analysing the
needs for the organization.
46. a. Warehousing
b. Logistics
c. Material handling
d. Distribution
199. EOQ is that order quantity which result in …………total
inventory cost.
a. Maximum
b. Minimum
c. Carrying
d. Average
200. Re-order level depends upon two factors, lead time and
……….
a. Inventory
b. Warehouse
c. Procurement
d. Safety stock
201. ………….is the invisible element in the system which is the
facilitator of other function.
a. Information
b. Logistics
c. EDI
d. ADC
47. 202. ………..is most suitable for remote and hilly areas.
a. Road transport
b. Railway transport
c. Water transport
d. Pipeline
203. …………is the fastest mode of transport.
a. Road transport
b. Railway transport
c. Water transport
d. Air Transport
204. When air transport is used in combination with road or rail
transport, it is called……….
a. Piggy Back
b. Fishy back
c. Birdy back
d. Land bridge
205. ………….means using land transport i.e. rail or road transport to
connect two separate water transport.
a. Piggy Back
b. Fishy back
c. LASH
48. d. Land bridge
206. …………are used for vertical movement of materials, generally
from one floor to another.
a. Conveyor belts
b. Cranes
c. Elevators
d. Towlines
207. ………..can move carton loads or pallet loads horizontally or
vertically.
a. Conveyor belts
b. Cranes
c. Elevators
d. Forklift trucks
208. …….. represent the frequency of satisfying customer order in
given span of time.
a. order cycle time
b. fill rate
c. perfect order
d. system flexibility
209. …………analysis, parameters for classification of inventory is
unit price of material.
a. ABC Analysis
49. b. EOQ
c. HML Analysis
d. GOLF
210. In ……….analysis, classification parameter is nature of source
of supply.
a. ABC
b. EOQ
c. HML
d. GOLF
211. Which of the following is not included in logistics process.
a. Implementing the plan for flow of goods & services.
b. planning the physical flow of goods & services
c. Controlling the physical flow of goods services & information.
d. gathering customer ideas for new product
212. 3-PL stands for
a. Three points logistics
b. Third party logistics
c. Three points location
d. The Party Logistics
213. Which of the following is not a part of supply chain
management system?
50. a. Supplier
b. Manufacturer
c. Information Flow
d. Competitor
214. ……………….is the process of planning implementation and
control of transportation services to achieve organization goals.
a. Logistics Management
b. Transportation Management
c. Supply Chain Management
d. Distribution Management
215. The………… type of material handling system is the simplest
and cheapest form of material handling system.
a. Manual system
b. Mechanized system
c. Semi-automated system
d. Automated system
216. Conveyor belt facilitate continuous movement of material over
a ………. Route.
a. Fixed
b. Flexible
c. Rotational
d. Safe
51. 217. ABC focuses on…………..activities.
a. Important
b. Individual
c. Logistics
d. Procurement
218. …………….is the method of sorting, transporting and
distributing products in unitized or standardized form in a
container.
a. Cold chain logistics
b. ICD
c. Containerization
d. DFC
219. …………..occurs when a company retains another business to
perform some of its work activities.
a. Outsourcing
b. KPO
c. 3PL
d. 4PL
220. ……………..is the most economical mode of transportation.
a. Road transport
b. Railway transport
52. c. Water transport
d. Air transport
221. ………….is the most suitable for transportation of fluids.
a. Road transport
b. Railway transport
c. Water transport
d. Pipeline
222. ………….cost is directly proportional to the volume of activity.
a. Fixed
b. Variable
c. Joint
d. Common
223. ………….comprises of raw materials, components, and fuels,
etc. which are required to facilitate manufacturing operations.
a. Raw material inventory
b. Work in process inventory
c. Finished goods inventory
d. Average inventory
224. ………… is not the type of inventory based on inventory
position in the supply chain.
a. Supplier
53. b. Manufacturer
c. Retailer
d. Customer
225. The objective of outbound supply chain is to make the product
available to the………
a. Customer
b. Retailor
c. Whole seller
d. Supplier
226. Supply chain management has its own origin in operation of
…….. Enterprise.
a. Business
b. Trading
c. Non profit
d. Social
227. DRP stands for
a. distribution requirement planning
b. dividend requirement planning
c. distribution resource planning
d. distribution reverse planning
54. 228. In……….analysis, the parameters of classification is whether
seasonal or non-seasonal materials.
a. SOS
b. SDE
c. ABC
d. HML
229. ………….is related with checking whether the goals and
objectives formulated earlier have been achieved or not.
a. Benchmarking
b. ABC Analysis
c. Goal achievement
d. Resource development
230. _______ are meant to store products for moderate to long
period of time.
a. Storage warehouses
b. Distribution warehouses
c. Automated warehouses
d. Private warehouse
231. The goal of logistics is
a. to achieve a target level of customer service at lowest
possible cost
b. to achieve targeted level of customer service.
c. increase in the market share.
55. d. All of the above.
232. EOQ stands for
a. Electronic Ordered Quantity
b. Economic Order Quantity
c. Economic Order Quality
d. Electronic Obtained quantity
233. MRP stands for
a. Material requirement planning.
b. Manpower recruitment process.
c. Machine repair plan.
d. Mechanical re-engineering process.
234. Master planning in the planning hierarchy
a. determines the direction of business.
b. creates the capacity.
c. involves the functional planning.
d. provides specification for manufacturing.
235. Master scheduling is the process that
a. determines the direction of business.
b. creates the capacity.
c. involves the functional planning.
d. provides specification for manufacturing.
56. 236. The logistical objective that ensures a proper balance between
total logistics cost and a desired level of customer service
performance is
a. right response.
b. right quality.
c. right cost trade off.
d. right information.
237. Just in time is a practice followed in
a. Japan.
b. America.
c. Britain.
d. China.
238. The term which covers the operation of shifting the cargo to or
from the vessel is
a. Rigging.
b. Slinging.
c. Carnage.
d. Forced discharge.
239. The term used for loading or unloading of heavy cargo is
a. Rigging.
b. Carnage.
57. c. Slinging.
d. Forced discharge.
240. The term used for carriage of goods when points of origin and
destination are both within the sovereignty of UK is
a. ULD.
b. Classification rate.
c. Valuation charge.
d. Cabotage.
241. The warehousing function that combines the logistical flow of
several small shipments to a specific market area is
a. Break bulk function.
b. Operational function.
c. Stockpiling function.
d. Consolidation function.
242. The upstream supply chain is:
a. exclusively inside an organization.
b. involved with procurement of material from suppliers.
c. the distribution of products or delivery of services to
customers.
d. both the first and third answer above.
243. A supply chain is a sequence of firms that perform activities
required:
58. a. to find products that are similar
b. to facilitate wholesalers inventory selections
c. to create synergy in their training programs
d. to create and deliver goods to consumers
244. Zero defects in manufacturing is
a. is a relevant goal only in electronic assembly
b. is readily achievable in all areas
c. is the goal of TQM
d. is an unobtainable and misleading idea
245. A ____________ encompasses all activities associated with the
flow and transformation of goods from the raw material stage,
through to the end user, as well as the associated information
flows.
A. production line
B. supply chain
C. marketing channel
D. warehouse
246. Which one of the following best represents a pure good?
A. Soap
B. Fast food
C. Attending a play
D. Vehicle repair
59. 247. Which of the following statements is true of LEAN?
A. Lean principles focus on advanced statistical methods
B. Lean principles are separate body of knowledge
C. Lean principles have been developed over a lengthy period
of time.
D. Lean principles include reducing waste.
248. Proper classification and codification of various items in stores
is essential for efficient
_______.
A. Record keeping
B. Storage
C. Selling
249. ________ is he grouping of material according to its nature.
A. Classification
B. Codification
C. Centralisation
250. _______ is the procedure for assigning symbols to the
material.
A. Classification
B. Codification
C. Centralisation
251. The ________ method of codification is generally based on the
mnemonic system.
60. A. Alphabetical
B. Numerical
C. Alpha-Numerical
252. ________ is the organisational head of the stores department.
A. Storekeeper
B. Purchase Manager
C. Stores clerk
253. Maintaining prompt and accurate records of all goods received,
issued and returned is the duty of _________.
A. Inspection clerk
B. Goods receiving clerk
C. Storekeeper
254. The _______ is maintained by the storekeeper.
A. Bin Card
B. Sales report
C. Production report
255. The stores ledger is maintained by the ______ department.
A. Stores
B. Cost
C. Purchase
256. __________ is a record of both quantities and values.
A. Bin Card
B. Stores Ledger
C. Inspection report
61. 257. _______ method of pricing issues follows the principle that
material received first are issued first.
A. Weighted Average
B. LIFO
C. FIFO
258. Under the ______ method of pricing issues, stock is valued at
historical price.
A. FIFO
B. LIFO
C. Simple Average
259. Under ______ method of pricing issues, issues are valued at a
price calculated by dividing the total cost of material in the
stock by the total quantity of material in stock.
A. Simple average
B. Weighted average
C. Last in First out
260. ________ stores organisation is adopted to store all the goods
at centrally located at on place.
A. Centralized
B. Central stores with sub-stores.
C. Independent
261. Under _______ method of pricing material issue the value of
closing stock represents the
current market price.
A. Weighted Average
B. LIFO
C. FIFO
262. The unused materials are returned to stores with a material
_______ note.
62. A. Acceptance
B. Transfer
C. Return
263. _______ method of pricing material issues provides a better
matching of current costs with current revenues.
A. FIFO
B. LIFO
C. Simple Average
264. _______ is a master requisition which lists all the materials
required for the completion of a job.
A. Bill of Material
B. Purchase Requisition
C. Material Requisition
265. Advantage of both centralised buying and storage of having
stock conveniently available at several issuing points are
possible in _______ system of stores organisation.
A. Independent stores
B. Central stores with Sub-stores
C. Centralised Stores
266. Bin Card is also known as ________.
A. Stock Card
B. Cost Card
C. Purchase Card
267. Lean production involves
A. Elimination of cost only
B. Improvement of quality only
C. Improvement of speed only
D. Elimination of all types of waste
268. Inspection, scrap, and repair are examples of
63. A. internal costs
B. external costs
C. costs of dissatisfaction
D. societal costs
269. "Kaizen" is a Japanese term meaning
A. a foolproof mechanism
B. Just-in-time (JIT)
C. a fishbone diagram
D. continuous improvement
270. Intermediaries play an important role in matching ________.
A. dealer with customer
B. manufacturer to product
C. information and promotion
D. supply and demand
271. Marketing logistics involves getting the right product to the right
customer in the right place at the right time. Which one of the
following is not included in this process?
A. implementing the plan for the flow of goods and services
B. planning the physical flow of goods and services
C. controlling the physical flow of goods, services, and
information
D. gathering customer's ideas for new products
272. Which of the following is not an area of responsibility for a
logistics manager?
A. inventory
B. purchasing
64. C. warehousing
D. marketing
273. To reduce inventory management costs, many companies use a
system called ________, which involves carrying only small
inventories of parts or merchandise, often only enough for a
few days of operation.
A. reduction-inventory management
B. supply chain management
C. economic order quantity
D. just-in-time logistics
274. A Supply Chain includes the chain of entities involved in the
planning, procurement, production and ------------- of products
and services
A. Distribution
B. Supply
C. Demand
D. Transport
275. There are four generic processes involved in any SCM-Planning
for operations, Sourcing decisions, Manufacturing related
activities and
A. Purchase
B. Inventory
C. Information
D. Distribution
276. Today, a growing number of firms now outsource some or all of
their logistics to ________ intermediaries.
65. A. competitors
B. third-party logistics providers
C. channel members
D. cross-functional teams
277. A quality circle holds a brainstorming session and attempts to
identify the factors responsible for flaws in a product. Which
tool do you suggest they use to organize their findings?
A. Ishikawa diagram
B. Pareto chart
C. process chart
D. control charts
278. Which of the following statements is true of LEAN?
A. Lean principles focus on advanced statistical methods
B. Lean principles are separate body of knowledge
C. Lean principles have been developed over a lengthy period
of time.
D. Lean principles include reducing waste.
279. Just-in-time/SCM purchasing requires the following condition:
66. A. Many suppliers
B. Short-term contracts
C. Cooperation between purchasing and suppliers
D. Continuous competitive bidding
280. The amount of inventory kept at each stock point in a
warehouse network is usually based on:
A. Minimizing transportation costs
B. Constant demand
C. Tradeoffs between warehousing, inventory, and
transportation costs
D. Product pricing strategy
281. The goal of inspection is to
A. detect a bad process immediately
B. add value to a product or service
C. correct deficiencies in products
D. correct system deficiencies
282. Which of the following is not a typical inspection point?
A. upon receipt of goods from your supplier
B. during the production process
C. before the product is shipped to the customer
D. at the supplier's plant while the supplier is producing after a
costly process
283. The most common form of quality control includes:
A. Planning
67. B. Organizing
C. Inspection
D. Directing
284. Marketing logistics involves getting the right product to the right
customer in the right place at the right time. Which one of the
following is not included in this process?
A. implementing the plan for the flow of goods and services
B. planning the physical flow of goods and services
C. controlling the physical flow of goods, services, and
information
D. gathering customer's ideas for new products
285. To reduce inventory management costs, many companies use a
system called ________, which involves carrying only small
inventories of parts or merchandise, often only enough for a
few days of operation.
a) reduction-inventory management
b) supply chain management
c) economic order quantity
d) just-in-time logistics
286. Companies manage their supply chains through ________.
a) information
b) transportation modes
c) competitors
d) the Internet
287. Which of the following is a function of inventory?
68. a. to decouple or separate parts of the production process
b. to provide a stock of goods that will provide a selection for
customers
c. to take advantage of quantity discounts
d. to hedge against inflation
e. all of the above are functions of inventory
288. Which of the following would not generally be a motive for a
firm to hold inventories?
a. to decouple or separate parts of the production process
b. to provide a stock of goods that will provide a selection for
customers
c. to take advantage of quantity discounts
d. to minimize holding costs
289. All of the following statements about ABC analysis are true
except
a. inventory may be categorized by measures other than dollar
volume
b. it categorizes on-hand inventory into three groups based on
annual dollar volume
c. it is an application of the Pareto principle
d. it states that all items require the same degree of control
290. ABC analysis is based upon the principle that
a. all items in inventory must be monitored very closely
b. there are usually a few critical items, and many items
which are less critical
c. an item is critical if its usage is high
69. d. the safety stock in terms of volume should be higher for A
items than for C items
291. Which of the following statements about ABC analysis is false?
a. ABC analysis is based on the presumption that controlling
the few most important items produces the vast majority of
inventory savings.
b. In ABC analysis, "A" Items are tightly controlled, have
accurate records, and receive regular review by major decision
makers.
c. In ABC analysis, "C" Items have minimal records, periodic
review, and simple controls.
d. ABC analysis is based on the presumption that all items
must be tightly controlled to produce important cost
savings.
292. ABC analysis divides on-hand inventory into three classes,
generally based upon
a. item quality
b. unit price
c. the number of units on hand
d. annual demand
e. annual dollar volume
293. Cycle counting
a. is a process by which inventory records are verified once a
year
b. provides a measure of inventory accuracy
c. provides a measure of inventory turnover
d. assumes that all inventory records must be verified with the
same frequency
70. 294. Among the advantages of cycle counting is that it
a. does not need to be performed for less expensive items
b. does not require the detailed inventory records necessary
when annual physical inventory is used
c. does not require highly trained people
d. allows more rapid identification of errors and
consequent remedial action than is possible with annual
physical inventory
295. In the basic EOQ model, if the cost of placing an order doubles,
and all other values remain constant, the EOQ will
a. increase by about 41%
b. increase by 100%
c. increase by 200%
d. either increase or decrease
296. Which of the following statements about the basic EOQ model
is true?
a. If the ordering cost were to double, the EOQ would rise.
b. If annual demand were to double, the EOQ would increase.
c. If the carrying cost were to increase, the EOQ would fall.
d. All of the above statements are true.
297. Which of the following statements about the basic EOQ model
is false?
a. If the setup cost were to decrease, the EOQ would fall.
b. If annual demand were to increase, the EOQ would increase.
c. If the ordering cost were to increase, the EOQ would rise.
d. If annual demand were to double, the EOQ would also
double.
71. 298. ________ is he grouping of material according to its nature.
A. Classification
B. Codification
C. Alpha-Numerical
D. Centralisation
299. _______ is the procedure for assigning symbols to the
material.
A. Classification
B. Codification
C. Centralisation
D. Alpha-Numerical
300. The ________ method of codification is generally based on
the mnemonic system.
A. Alphabetical
B. Numerical
C. Codification
D. Alpha-Numerical
301. ________ is the organisational head of the stores
department.
A. Storekeeper
B. Purchase Manager
C. Production Manager
D. Stores clerk
302. Maintaining prompt and accurate records of all goods
received, issued and returned is the duty of _________.
A. Inspection clerk
B. Purchase Manager
C. Goods receiving clerk
D. Storekeeper
303. The stores ledger is maintained by the ______ department.
72. A. Stores
B. Sales
C. Cost
D. Purchase
304. __________ is a record of both quantities and values.
A. Bin Card
B. Job Card
C. Stores Ledger
D. Inspection report
305. Under the ______ method of pricing issues, stock is valued at
historical price.
A. FIFO
B. LIFO
C. Simple Average
D. Weighted Average
306. ________ stores organisation is adopted to store all the
goods at centrally located at on place.
A. Centralized
B. Central stores with sub-stores.
C. Independent
D. Dependant
307. Under _______ method of pricing material issue the value of
closing stock represents the current market price.
A. Weighted Average
B. LIFO
C. Simple average
D. FIFO
308. The unused materials are returned to stores with a material
_______ note.
73. A. Acceptance
B. Non- acceptance
C. Transfer
D. Return
309. _______ method of pricing material issues provides a better
matching of current costs with current revenues.
A. FIFO
B. LIFO
C. Simple Average
D. Weighted Average
310. EOQ is the Quantity at which –
A) Inventory carrying cost is maximum
B) Warehousing cost is minimum
C) Inventory carrying cost + ordering cost is maximum
D) Inventory carrying cost + ordering cost is minimum
311. Which is the System of Recoupment to be followed for
recouping Emergency stores ?
A) Maxima- Minima
B) Periodic review
C) Base stock
D) Combination of (A) & (B)
312. Which of the following items need not to be verified-
(a) Dunnage
74. (b) Petty consumable stores
(c) Dead Stock, Tools & Plants of low value
(d)All of the above
313. Presence of which of the following is essential during the Stock
Verification?
(a) Depot officer
(b) Depot material supdt. or someone deputed on his
behalf
(c) Sr. Account Officer
(d) RPF
314. In ABC analysis, which items are are given more attention from
inventory control point of view?
(a) A Category
(b) B Category
(c) C Category
(d) Equal attention to all
315. Which of the following analysis gives more attention to the
service level-
(a) ABC Analysis
(b) VED Analysis
(c) FSN Analysis
(d) XYZ Analysis
316. Standardization does not affect:
75. a) Manufacturing cost
b) Manufacturing process
c) Warehousing operation
d) None of the above
317. Multiple shops are also known as –
a. self service stores
b. chain stores
c. shopping by post
d. departmental stores
318. Buffer Stock is also known as:
(a) Critical stock
(b) Safety Stock
(C) Inactive stock
(d) emergency stock
319. The ……………. Forecasting approach is a decentralized
approach.
a. Demand
b. Trend
c. Supply
d. Bottom up
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