Quiz  /  Average Profit Method Gate & PSU MCQ Questions With Answers

  • 1. 
    Which definition best describes a computer?

  • A machine that stores and processes data
  • A machine with a brain and emotions
  • A device that collects viruses and dust
  • A device that was invented to be smarter than man

  • 2. 
    In case of partnership firms, goodwill is valued at time of

  • admission of new partner
  • Retirement or death of partner
  • change in profit sharing ratio
  • all of the above

  • 3. 
    The life cycle of a product goes through how many defined stages?

  • 2
  • 4
  • 5
  • 6

  • 4. 
    Average Capital Employed is calculated as

  • Capital employed-1/2 of current year profit
  • Capital employed-1/2 of past year profit
  • Capital employed - 1/2 of Average profits
  • Capital employed - current year profit

  • 5. 
    Operations management _________________.

  • involve in obtain funds and tracks the finance performing
  • is the set of activities that transforming inputs into outputs
  • creates demand and get customers
  • involve the management of employee from recruitment to retirement

  • 6. 
    Benefits of the 5s system as following EXCEPT:

  • Improved quality
  • Decreased changeover time
  • Reduced storage costs
  • increase machine time

  • 7. 
    Future maintainable profit – normal profit =

  • Average capital employed
  • Goodwill
  • Super profit
  • Capital employed

  • 8. 
    Brandon lives in the hot Nevada desert where extreme weather conditions dictate what types of products he purchases. Which method would marketers be conscious of when promoting their merchandise in the region where Brandon lives?

  • Behaviorist
  • Psychographic
  • Demographic
  • Geographic

  • 9. 
    While calculating goodwill, weighted average method should be followed when _______

  • profits are uneven
  • profits are with increasing trend
  • profits are with decreasing trend
  • Either "b" or "c"

  • 10. 
    A marketing mix is the blending of four marketing elements: price, product, promotion and _.

  • Property
  • Place
  • Produce
  • Prepare

  • 11. 
    An example of an intangible product would be

  • a tractor
  • mowing a lawn for a fee
  • a new computer
  • new tires

  • 12. 
    While calculating capital employed for ascertainment of goodwill, which one of the following is considered?

  • Unrecorded assets and liabilities
  • Goodwill
  • Fictitious assets
  • Investments

  • 13. 
    Following are the factors affecting goodwill except_______

  • Nature of business
  • Efficiency of management
  • Technical know-how
  • Location of the customers

  • 14. 
    A file that is sent along with an email message is called a(n):

  • Attachment
  • Add-on
  • Document
  • Selected file

  • 15. 
    The present value of the firm’s anticipated excess earnings is

  • capital
  • Goodwill
  • FMP
  • super profits

  • 16. 
    Which market segmentation method is selected when classifications of age, gender, income, or family size is utilized.

  • Behaviorist
  • Psychographic
  • Demographic
  • Geographic

  • 17. 
    Which group includes both an input and an output device?

  • Scanner and microphone
  • Keyboard and mouse
  • Printer and speakers
  • Digital camera and speakers

  • 18. 
    Interest on investment is_____________ while calculating future maintainable profit.

  • Subtracted
  • Added
  • Multiplied
  • Divided

  • 19. 
    Computers are necessary in building a successful career.

  • True
  • False

  • 20. 
    Which one is TRUE for the medium range forecast?

  • New product planning, facility location, research and development
  • Forecasts tend to be more accurate than longer-term forecasts
  • Purchasing, job scheduling, workforce levels, job assignments, production levels
  • Forecast on sales, production planning and budgeting.

  • 21. 
    A strategy is

  • an action plan to achieve a mission.
  • the goal that is to be achieved.
  • the purpose for which an organization is established.
  • a functional area of the firm.
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