Compensation Management - 5

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



True/False
Question
An employee gets deduction to the extent, professional tax paid by him from income chargeable under 'salaries'.
Correct Answer
True
Your Answer
True

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 conducting interviews , Cost of interruption in production , Cost of advertisement for recruitment

Multiple Choice Multiple Answer
Question
Cost accounting department analyze payroll for the purpose of revealing :-
Correct Answer
Normal and abnormal idle time , Direct & indirect labour , Variance from budgeted costs
Your Answer
Normal and abnormal idle time , Direct & indirect labour , Time standards

True/False
Question
With about 2-5 years of experience, an employee can move upto manager level from executive level in IT industry.
Correct Answer
True
Your Answer
True

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
Extent of employees turnover depends upon :-
Correct Answer
Type of industry , Male to female ratio , Physical conditions within organisation
Your Answer
Type of industry , Male to female ratio , Physical conditions within organisation

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
Cash bonus

Multiple Choice Single Answer
Question
The wage structure or grade is comprised of jobs of appropriately equal difficulty or importance as determined by :-
Correct Answer
Job evaluation
Your Answer
Job evaluation

Match The Following
Question
Correct Answer
Your Answer
Cost accounting Dept.
Accumulation & classification all cost data
Accumulation & classification all cost data
Personnel Dept.
Selection & training of employees.
Preparation of drawings
Payroll Dept.
Maintain record of wage rate of each employee.
Maintain record of wage rate of each employee.
Engineering Dept.
Preparation of time & motion studies
Time keeping

Multiple Choice Multiple Answer
Question
Salient features of profit-sharing are :-
Correct Answer
Agreement is voluntary , Payment may be in cash / stock of future credits , Computation on the basis of some agreed formula
Your Answer
Agreement is voluntary , Payment may be in cash / stock of future credits , Computation on the basis of some agreed formula

Multiple Choice Multiple Answer
Question
Following are economic causes of idle time of labour :-
Correct Answer
Trade cycles. , Non availability of working capital.
Your Answer
Poor management. , Break down of machinery. , Trade cycles.

True/False
Question
Incentive schemes sometimes lead to jealousies and misunderstanding among the workers.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Employees in the railways are entitled of payment of wages Act, 1936 who are drawing wages and salaries below :-
Correct Answer
Rs. 1600/- a month
Your Answer
Rs. 1600/- a month

True/False
Question
Any contribution to pension, provident fund or a scheme of social security etc. amounts to wages.
Correct Answer
False
Your Answer
True

Select The Blank
Question
Payment to out workers is done on ________ basis.
Correct Answer
Monthly
Your Answer
Daily

Multiple Choice Single Answer
Question
For a normal adult the net intake of calories should be :-
Correct Answer
2700
Your Answer
2700

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

Multiple Choice Single Answer
Question
By using straight piece rate system of compensation output :-
Correct Answer
Increases
Your Answer
Increases

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

Select The Blank
Question
From economic and ________ point of view woman was subject to man.
Correct Answer
Social
Your Answer
Social

Multiple Choice Single Answer
Question
Gate time keeping helps for :-
Correct Answer
Payroll preparations.
Your Answer
Ascertaining labour cost of each job.

Select The Blank
Question
Overtime payment given to the worker due to inefficiency of other department is charged to ________.
Correct Answer
Responsible Department
Your Answer
Job

Select The Blank
Question
There are many methods that an alive ________ management can creatively develop for employees rendered redundant through little forethought.
Correct Answer
HRD
Your Answer
Personnel

True/False
Question
Equal remuneration Act, 1976 discriminates on the ground of sex against women in the matter of employment.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Level II in junior managers comprises of :-
Correct Answer
Engineers , Officers , Senior Engineers
Your Answer
Engineers , Officers , Senior Engineers

Multiple Choice Single Answer
Question
Better production planning & control is facilitated through :-
Correct Answer
Job cards.
Your Answer
Daily time sheet.

Select The Blank
Question
Ratio of number of persons over 4 years of service at present to present total employees is called ________
Correct Answer
Skill dilution index
Your Answer
Skill wastage index

Select The Blank
Question
Generally, the strong & more powerful is the trade union, the ________ are the wages.
Correct Answer
Higher
Your Answer
Higher

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

True/False
Question
Provident fund is component of gross earnings.
Correct Answer
False
Your Answer
True

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

Select The Blank
Question
________ is the unique code allotted to each & every employee in the organization.
Correct Answer
Employee No.
Your Answer
Employee No.

True/False
Question
Monitory payment often act as motivators and satisfiers interdependently of other job factors.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
In high profit making organisation compensation paid is relatively:-
Correct Answer
Higher
Your Answer
Higher

Multiple Choice Multiple Answer
Question
Components of deductions in salary are :-
Correct Answer
E.S.I. , Housing loan installment.
Your Answer
Basic salary. , E.S.I. , House rent allowance

Multiple Choice Single Answer
Question
Long-term wage Incentive plans are useful, where :-
Correct Answer
Jobs are inter-related
Your Answer
Jobs are inter-related

Multiple Choice Single Answer
Question
In piece rate and time rate combination system, if piece rate earning constantly fall below minimum guaranteed payment, labour cost :-
Correct Answer
Increases
Your Answer
Decreases

True/False
Question
Rate of change in the working force of an organisation during a period of time is known as employee turnover.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Reward may be money or promotion, but more likely it will be some pay-off -a smile, and :-
Correct Answer
Acceptance by peer
Your Answer
Acceptance by peer

Multiple Choice Multiple Answer
Question
Bonus, as the incentive to managers is determined :-
Correct Answer
By formula , By discretion used in allocation of bonus
Your Answer
By formula , By discretion used in allocation of bonus , By Board of Directors

Select The Blank
Question
________ refers to compensation programmes that allow employees to choose the type and quantity of reward desired by him during the year.
Correct Answer
Cafeteria style compensation
Your Answer
Non-monetary rewards

True/False
Question
Overtime paid for uncontrollable reasons is charged to Profit and Loss Account.
Correct Answer
True
Your Answer
True

True/False
Question
Economic system does result in the concentration of wealth.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
As industrialization taking place, the family values have :-
Correct Answer
Changed
Your Answer
Changed

Multiple Choice Multiple Answer
Question
Objectives laid down by I.L.O. are :-
Correct Answer
Abolish malpractices , Abuse in wage payment , Promote Trade Union
Your Answer
Abolish malpractices , Abuse in wage payment , Promote Trade Union

Select The Blank
Question
Today there is strong competition for acquiring as much ________ as possible.
Correct Answer
Wealth
Your Answer
Wealth

Multiple Choice Multiple Answer
Question
To make Scanlon plan successful, there should be :-
Correct Answer
Stable product lines and costs , Strong commitment to plan , Healthy labour relations
Your Answer
Stable product lines and costs , Strong commitment to plan , Healthy labour relations