Materials Management - 9

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LIST OF ATTEMPTED QUESTIONS AND ANSWERS



Multiple Choice Single Answer
Question
The basic materials which have not undergone any conversion since their receipts from suppliers is :-
Correct Answer
Raw material
Your Answer
Raw material

Multiple Choice Single Answer
Question
Heat is :-
Correct Answer
An physical agent
Your Answer
An physical agent

Multiple Choice Single Answer
Question
Inventory control system means :-
Correct Answer
To achieve basic purpose of inventory creation
Your Answer
To achieve basic purpose of inventory creation

Multiple Choice Multiple Answer
Question
Salient characteristics of kodak system are :-
Correct Answer
Materials are divided into few broad classifications , Each preliminary class is further divided into sub classes , Each sub class is next amplified into kind of items
Your Answer
Materials are divided into few broad classifications , Each preliminary class is further divided into sub classes , Each sub class is next amplified into kind of items

True/False
Question
Turnover discount is usually related to the annual business and is paid in the form of credit note at the end of the year.
Correct Answer
True
Your Answer
True

True/False
Question
Manual inspection is economical when volume of output is small.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Set-up cost is associated with :-
Correct Answer
Period , Number of production runs
Your Answer
Number of production runs , Machine cost

Multiple Choice Single Answer
Question
Stock taking is the responsibility of :-
Correct Answer
Stores
Your Answer
Stores & purchase

Match The Following
Question
Correct Answer
Your Answer
Nut bolts
Miscellaneous
Hand tools
Table and chair
Office equipment
Office equipment
Grinding machine
Capital equipment
Capital equipment
Rimmer
Hand tools
Miscellaneous

Select The Blank
Question
Standardized containers eliminates ________
Correct Answer
Transit damage
Your Answer
Transit damage

Multiple Choice Multiple Answer
Question
What are the forecasting techniques?
Correct Answer
Regression analysis , Exponential smoothening , Moving average
Your Answer
Moving average , Regression analysis , Exponential smoothening

Select The Blank
Question
Deterioration of rubber parts can be avoided by ________.
Correct Answer
Application of French chalk
Your Answer
Application of organic chemicals

True/False
Question
No restrictions are on rail transport.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Primary function means :-
Correct Answer
Basics required to make product worth
Your Answer
Basics required to make product worth

Select The Blank
Question
A bonnet of motor-car is an ________.
Correct Answer
Protection to engine
Your Answer
Protection to engine

True/False
Question
Import substitution in reality should be looked upon as "Import avoidance"
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Quantity discounts are offered when :-
Correct Answer
Buyer tempts to produce large quantity , Production is higher & cost is less
Your Answer
Buyer tempts to produce large quantity , Production is higher & cost is less

Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.

Select The Blank
Question
Method suitable for items which are either of purely seasonal is ________.
Correct Answer
Seasonal buying
Your Answer
Seasonal buying

Multiple Choice Single Answer
Question
Deterioration implies :-
Correct Answer
Reduction in value of material
Your Answer
Reduction in value of material

Multiple Choice Multiple Answer
Question
Lowest price may be quoted by the prospective seller :-
Correct Answer
Deliberately with an intention to gain entry into the buyer's company , On account of failure to estimate the cost correctly and accurately. , Due to arithmetical errors in his cost estimates.
Your Answer
Deliberately with an intention to gain entry into the buyer's company , On account of failure to estimate the cost correctly and accurately. , Due to arithmetical errors in his cost estimates.

Select The Blank
Question
Set-up cost for manufactured item in own plant is ________.
Correct Answer
Very high
Your Answer
Very high

Multiple Choice Single Answer
Question
The submission of the final offers by the prospective sources is :-
Correct Answer
Firm bidding
Your Answer
Firm bidding

True/False
Question
Deterioration & Obsolescence cost are similar.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Value analysis speaks about :-
Correct Answer
Cost improvement , Improvement in quality
Your Answer
Cost improvement , Improvement in quality

Multiple Choice Multiple Answer
Question
Objectives of material research are :-
Correct Answer
To improve capability of purchase department to visualize problems which may be encountered in future. , To make optimum utilization of available resources , To provide the enterprise a competitive edge.
Your Answer
To improve capability of purchase department to visualize problems which may be encountered in future. , To provide the enterprise a competitive edge. , To attain lower efficiency in purchasing activities.

Select The Blank
Question
Fixed price is applied up to certain part of the contract and price is finally determined at an agreed point in the contract is ________
Correct Answer
Fixed price with predetermination
Your Answer
Cost plus percentage of cost.

Multiple Choice Multiple Answer
Question
Constituents of cost analysis are :-
Correct Answer
Raw material , Labour cost
Your Answer
Raw material , Labour cost , Inventory carrying cost

Multiple Choice Single Answer
Question
Policies lay down administrative principles utilized in framing procedures and rules is :-
Correct Answer
Internal policies
Your Answer
Internal policies

Select The Blank
Question
________ reduce problems of material planning.
Correct Answer
Reduction in lead time
Your Answer
Reduction in lead time

True/False
Question
OEM discount is given by the supplier with a view to widen customer's base.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The organization set up by FAO & WHO to evolve food standards :-
Correct Answer
Codex Alimentarious commission
Your Answer
Codex Alimentarious commission

Select The Blank
Question
________ received in the daily mail can also provide information on the vendors of items which the buyer's company is interested in developing.
Correct Answer
Circulars
Your Answer
Circulars

True/False
Question
Master production schedule is not a forecast of demand but is plan for production.
Correct Answer
True
Your Answer
True

True/False
Question
Reorder quantity in fixed order interval system equal economic order quantity.
Correct Answer
False
Your Answer
False

Select The Blank
Question
In traditional purchasing, quality is confirmed ________.
Correct Answer
On receipt
Your Answer
At buyer's end

Multiple Choice Multiple Answer
Question
The receiving stores copy is used by it :-
Correct Answer
To ensure that supplier effects supply of only items ordered on him. , To ensure that supplier does not supply more than the quantity stipulated in the purchase order. , To ensure that the supplier effect deliveries through the mode of transport asked for by the buyer.
Your Answer
To enable indentor to do follow up with the purchase department , To ensure that supplier effects supply of only items ordered on him. , To ensure that the supplier effect deliveries through the mode of transport asked for by the buyer.

Multiple Choice Single Answer
Question
Material requisition means :-
Correct Answer
Material request note signed by authorized person
Your Answer
Request for material as required

True/False
Question
Make or buy decision are of common concern to both materials and production department.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
What is the identification & location of stock in store?
Correct Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.
Your Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.

Match The Following
Question
Correct Answer
Your Answer
Vendor rating
Right source
Right source
Replenishment method
Right time
Right time
Competitive bidding
Right price
Right price
EOQ
Right quantity
Right quantity

Multiple Choice Multiple Answer
Question
Typical examples of direct materials are :-
Correct Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry
Your Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry

Multiple Choice Multiple Answer
Question
Following are benefits of scientific stoke management :-
Correct Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
Your Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material

Multiple Choice Single Answer
Question
What is described in sale of goods Act 1930?
Correct Answer
Various rules concerning delivery of goods to be agreed between seller & buyer
Your Answer
Various rules concerning delivery of goods to be agreed between seller & buyer

Select The Blank
Question
________ is suitable for procurement of prototypes, fixtures, development items.
Correct Answer
Cost plus percentage of cost.
Your Answer
Fixed price agreements with escalation.

Multiple Choice Multiple Answer
Question
Steel almirahs are used for storage of :-
Correct Answer
Expensive items , Scarce items
Your Answer
Expensive items , Scarce items

True/False
Question
Contract whose object is not lawful are not void.
Correct Answer
False
Your Answer
False