Compensation Management - 1

Select The Blank
Question
________ is that portion of Dearness Allowance which Government declares to be paid for all purposes.
Correct Answer
Dearness Pay
Your Answer
P F contribution

Multiple Choice Multiple Answer
Question
Differential piece rate system is suitable where :-
Correct Answer
Fixed costs are higher in proportion to veriable cost , It is possible to count production accurately , There are standardised methods of production
Your Answer
Fixed costs are higher in proportion to veriable cost , It is possible to count production accurately , There are standardised methods of production

Multiple Choice Multiple Answer
Question
The aim of a wage & salary policy is :-
Correct Answer
To recognize the value of each job , Provide stability in earning
Your Answer
To recognize the value of each job , Provide stability in earning , Allow individual to reach partial earning potential

Multiple Choice Single Answer
Question
The total of direct material, direct labour, direct expenses is called :-
Correct Answer
Prime cost
Your Answer
Prime cost

True/False
Question
E.S.I. Act does make a distinction between technical and non-technical employees.
Correct Answer
False
Your Answer
True

Select The Blank
Question
Wages have at least ________ connotations from stand points of employers and employees.
Correct Answer
2
Your Answer
4

Multiple Choice Single Answer
Question
In graduated time rates system, if basic salary is Rs.2000 and dearness allowance is 150% then total remuneration will be :-
Correct Answer
Rs.5000/-
Your Answer
Rs.5000/-

Multiple Choice Single Answer
Question
Following is method of time booking :-
Correct Answer
Daily time sheet.
Your Answer
Time recording clock.

Multiple Choice Single Answer
Question
Work study department is engaged in activities like determining :-
Correct Answer
Standard procedure
Your Answer
Standard procedure

Select The Blank
Question
Cost of employee welfare activities comes under ________ cost.
Correct Answer
Preventive
Your Answer
Direct labour

Multiple Choice Single Answer
Question
Advantage of maintaining hand written register for attendance is :-
Correct Answer
Easy to operate.
Your Answer
Easy to operate.

True/False
Question
Wage & salary are also subject to a variety of legislation & in this context, compliance with existing legislative measure is very important.
Correct Answer
True
Your Answer
True

Select The Blank
Question
In Taylor differential piece rate system, high piece rate is applicable if ________.
Correct Answer
Output is above standard
Your Answer
Output is above standard

Multiple Choice Single Answer
Question
The expenditure on medical treatment and stay abroad will be exempt only to the extent permitted by :-
Correct Answer
Reserve Bank of India
Your Answer
State Government

True/False
Question
Taylor differential piece rate system is difficult to understand and implement.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Apart from salaries, IT employees are giving importance to :-
Correct Answer
Job content , Job security , Company image
Your Answer
Job content , Job security , Company image

Multiple Choice Multiple Answer
Question
Following are causes of idle time of labour pertaining to production,
Correct Answer
Failure of electricity. , Breakdown of machinery
Your Answer
Failure of electricity. , Seasonal nature of demand. , Breakdown of machinery

True/False
Question
The payment of profit sharing plan is of uncertain nature because of uncertainty of profits to the company.
Correct Answer
True
Your Answer
True

True/False
Question
Indirect labour cost are distributed on a basis of suitable proportion.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
In Compensation plans the following are taken into account :-
Correct Answer
Cost of production , Reduction in expenses , Profits made
Your Answer
Cost of production , Reduction in expenses , Profits made , Losses incurred

Select The Blank
Question
In Gantt task plan of compensation, if output is below standard, then worker gets payment as per ________.
Correct Answer
Time rate
Your Answer
Time rate

Select The Blank
Question
________ generated out of payroll system shows amounts of debits and credits.
Correct Answer
Journal entry
Your Answer
Journal entry

True/False
Question
If an employee pays fees for attending some management course, the fees can be allowed for deduction from salary income.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
Jobs are graded according to the relative skill :-
Correct Answer
Effort , Responsibility , Calculations
Your Answer
Effort , Responsibility , Calculations

Multiple Choice Single Answer
Question
In recent times, in addition to stock options, employees of dotcom companies are demanding :-
Correct Answer
Cash bonus
Your Answer
Annual increments

Multiple Choice Multiple Answer
Question
The characteristics of profit sharing plan are :-
Correct Answer
Profits are payable at long intervals , Payments to employees are uncertain , Payment is regarded sometimes as windfall gain
Your Answer
Profits are payable at long intervals , Payments to employees are uncertain , Payment is based on merit

Multiple Choice Multiple Answer
Question
Following are the forms of the cost of replacement :-
Correct Answer
Cost of advertisement for recruitment , Cost of conducting interviews , Cost of interruption in production
Your Answer
Cost of advertisement for recruitment , Cost of conducting interviews , Cost of retirement benefits

Multiple Choice Single Answer
Question
Towns are getting converted into cities and cities into :-
Correct Answer
Metro
Your Answer
Metro

Multiple Choice Single Answer
Question
Aggregate costs change, if there is change in volume of output in case of :-
Correct Answer
Marginal cost
Your Answer
Standard costing

Multiple Choice Single Answer
Question
For designing profit sharing plan, the company has to first :-
Correct Answer
Determine organisation's profit for year
Your Answer
Determine organisation's profit for year

Multiple Choice Single Answer
Question
Cost of labour minute operation is available from :-
Correct Answer
Job cards.
Your Answer
Time study sheet.

Select The Blank
Question
Life and Medical insurance or reimbursement of medical bills is considered as a part of ________.
Correct Answer
Perks
Your Answer
Perks

Multiple Choice Multiple Answer
Question
For adequate and effective internal check on disbursement of wages, these factors are important :-
Correct Answer
Proper time recording , Proper record of output by workers , Well-defined terms of remuneration and incentive schemes
Your Answer
Proper time recording , Proper record of output by workers , Proper knowledge of workers language

Match The Following
Question
Correct Answer
Your Answer
Remuneration
Employees
Managers
Wage Differentials
Three categories
Employees
Mathematical tables
Calculations
Calculations
Elements of good Wage Plan
Two
Three categories

True/False
Question
Any other amenity or service excluded from the computation of wages by a general or special order of appropriate Govt.
Correct Answer
False
Your Answer
True

Select The Blank
Question
There are ________ basic traditional system of job evaluation.
Correct Answer
4
Your Answer
4

Select The Blank
Question
The scanlon plan of profit sharing gives utmost importance to ________.
Correct Answer
Employee participation
Your Answer
Employee participation

Multiple Choice Multiple Answer
Question
Group incentive plans may not become successful due to :-
Correct Answer
Unevenness of performance of different members of groups , Ill-feeling among group members , No recognition for individual performance
Your Answer
Unevenness of performance of different members of groups , Ill-feeling among group members , Unstable group production levels

Select The Blank
Question
________ is a source document for preparation of wage sheet.
Correct Answer
Attendance Register
Your Answer
Attendance Register

True/False
Question
Incentive schemes should be installed right from beginning of production.
Correct Answer
False
Your Answer
True

True/False
Question
Performance standards & norms for incentive payments should be set up high for better results.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
In post IPO stage, dotcom company gives its employees :-
Correct Answer
Balanced total reward package
Your Answer
Balanced total reward package

Select The Blank
Question
After deducting depreciation and initial or development rebate from profit, we arrive at ________.
Correct Answer
Surplus profit
Your Answer
Surplus profit

Match The Following
Question
Correct Answer
Your Answer
Bonus to top management
Overall corporate results
Overall corporate results
Time' incentive plan
Delays in work are frequent
Technological advancement
Output' Incentive plan
Units of output are measurable
Units of output are measurable
Commission' to salesmen
Unsupervised nature of job
Unsupervised nature of job

Multiple Choice Multiple Answer
Question
Job analysis describes :-
Correct Answer
Duties , Responsibilities , Working conditions
Your Answer
Duties , Responsibilities , Working conditions

True/False
Question
Surprise check on calculation & disbursement of payments is necessary to avoid any fraud.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Time rate systems are :-
Correct Answer
Ordinary level , High wage level , Graduated time rates
Your Answer
Ordinary level , High wage level , Graduated time rates