MGT211 2015 Final Term MCQs

Question No: 21 ( Marks: 1 ) - Please choose one
The activities and processes used in making both tangible and intangible
products is known as _____________.
► Operations.
► None of the given options
► Making
► Production.


Question No: 22 ( Marks: 1 ) - Please choose one
Under which cost flow assumption is the ending inventory composed of the earliest purchased merchandise?
► FIFO
► LIFO
► Average cost
► Specific identification

Question No: 23 ( Marks: 1 ) - Please choose one
The preferred method for achieving total quality in process output is to:
► Rely on a team of highly trained and dedicated inspectors.
► Rely on operator self-inspection and self-correction.
► Build and install an error-proof process and maintain it.
► Perform inspection at the next process.

Question No: 24 ( Marks: 1 ) - Please choose one
What is data?
► All of the facts that are collected, stored, and processed by an information system.
► All of the debit and credit information about each transaction.
► The same thing as information.
► All of the given options.

Question No: 25 ( Marks: 1 ) - Please choose one
Which of the following is defined as large scale information system used for organizing and managing a firm’s processes across product lines, departments and geographic locations?
► Expert System
► Decision Support System
► Enterprise Resource Planning
► Electronic Data Interchange

Question No: 26 ( Marks: 1 ) - Please choose one
The financial statement which shows cash activity (receipts and disbursements) during the accounting period is called a(n):
► Bank statement.
► Income statement.
► Statement of cash flows.
► Bank reconciliation.

Question No: 27 ( Marks: 1 ) - Please choose one
Which of the following regarding GAAP is true?
► GAAP is the body of accounting knowledge followed by all countries in the world.
► GAAP is the abbreviation for generally accepted auditing procedures.
► Changes to GAAP must be approved by the Senate Finance Commission.
► All of the given options.


Question No: 28 ( Marks: 1 ) - Please choose one
The inventory cost flow assumption where the oldest cost of inventory items is
likely to remain on the balance sheet is______________
► All of the given options.
► FIFO
► LIFO
► Average

Question No: 29 ( Marks: 1 ) - Please choose one
Which of the following would generally have unlimited liability?
► A limited partner in a partnership
► A shareholder in a corporation
► The owner of a sole proprietorship
► A member in a limited liability company (LLC)

Question No: 30 ( Marks: 1 ) - Please choose one
The situation when a country imports more than its exports is:
► A trade surplus.
► A recession.
► A trade deficit.
► An expansion.

Question No: 31 ( Marks: 1 ) - Please choose one
The marketing environment is BEST described as being
► Composed of controllable variables.
► Composed of variables independent of one another.
► An indirect influence on marketing activity.
► Dynamic and changing.

Question No: 32 ( Marks: 1 ) - Please choose one
Which one of the following statements by a company chairman best reflects the marketing concept?
► We believe that the marketing department must organise to sell what we
produce.
► We try to produce only high quality, technically efficient products.
► We try to encourage company growth.
► We have organised our business to make certain that we satisfy customer needs.


Question No: 33 ( Marks: 1 ) - Please choose one
When Nayer Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables?
► Price
► Promotion
► Product
► Packaging

Question No: 34 ( Marks: 1 ) - Please choose one
The three major categories of influences that are believed to influence the consumer buying decision process are personal, psychological, and:
► Person-specific
► Social
► Demographic
► Situational

Question No: 35 ( Marks: 1 ) - Please choose one
Nestle yoghurt represents which type of product for most consumers?
► Convenience
► Shopping
► Speciality
► Unsought

Question No: 36 ( Marks: 1 ) - Please choose one
As the production manager of an engineering firm, you went out and bought a metal cutting machine. What you have purchased can best be classified as
► a processed component.
► a component part.
► raw material.
► an industrial product.

Question No: 37 ( Marks: 1 ) - Please choose one
Physical distribution functions influence
► primarily pricing and product decisions.
► primarily promotion and pricing decisions.
► all elements of the marketing mix.
► primarily pricing decisions.

Question No: 38 ( Marks: 1 ) - Please choose one
All elements of the marketing mix are influenced by physical distribution functions. For this reason, it is important for marketers to remember that
► physical distribution decisions must be made prior to any other marketing strategy consideration.
► physical distribution costs often rise as customer service requirements decrease.
► over 75 percent of all marketing costs are associated with physical distribution expenditures.
► no single distribution system is ideal for all situations and target markets.

Question No: 39 ( Marks: 1 ) - Please choose one
A fruit and vegetable wholesaler buys a loaded truck of strawberries from a local farmer and then divides them into 10 kg baskets to sell to grocery stores. This sorting function is called:
► Allocation.
► assorting.
► accumulation.
► sorting out.

Question No: 40 ( Marks: 1 ) - Please choose one
A product's ability that it cannot be used for various purposes in different capacities and under different conditions is termed as__________
► Flexibility of a product
► Inflexibility of a product
► Availability of a product
► All of the given options

The portion of capital kept at the winding up of a company for the payment of debts is known as:

Question: Please choose one
The portion of capital kept at the winding up of a company for the payment of debts is
known as:
► Reserve capital
► Issued capital
► Subscribed capital
► Authorized capital

The notice calling the annual general meeting must be given to all its members at least _______________ days before the date of the meeting.

Question: Please choose one
The notice calling the annual general meeting must be given to all its members at least
_______________ days before the date of the meeting.
► 21 days
► 30 days
► 45 days
► 51 days

Which of the following is/are the component/s of business?

Question: Which of the following is/are the component/s of business?
Please choose one

► Industry
► Commerce
► Both industry and commerce
► Trade and aids to trade

Complete the following sentence by choosing the correct option.

The coach's ___________ voice could be heard over all the other noise in the gymnasium.


►sanguine

►ingratiating

►strident              Correct

► mellifluous

Read the statement carefully and choose ‘inference’ from the given options.

If you get fired from your job, you can infer that:


►You did something wrong.      Correct

►You will never get a job again

►You were the best worker.

►You might get a raise.

Read the sentence carefully and decide which of the five choices provided comes closest in meaning to the word underlined.

Sue affected to like her only until she found a better friend.


►Agreed

►Pretended        Correct

►Wanted

►Bothered