Entrepreneurship Development Quiz for AKTU Part 3

Entrepreneurship Development MCQ With Answer :

 

Q1. Which of the following is not an inventory?

1. Machines
2. Raw material
3. Finished products
4. Consumable tools

       Answer: a

Q2. The time period between placing an order its receipt in stock is known as:

1. Lead time
2. Carrying time
3. Shortage time
4. Over time

        Answer: a

Q3. The accounts payable, accruals and notes payables are listed on balance sheet as

1. Accrued liabilities
2. Current liabilities
3. Accumulated liabilities
4. Non-current liabilities

Answer: b

Q4. The cash and equivalents, inventories and accounts receivables are classified as

1. Assets on balance sheet
2. Liabilities on balance sheet
3. Earnings on income statement
4. Payments on income statement

Answer: a

Q5. In the situation of bankruptcy, the stock which is recorded above common stock and below debt account is:

1. debt liabilities
2. preferred stock
3. hybrid stock
4. common liabilities

Answer: b

Q6. According to accounting equation assets are equal to?

1. Liabilities
2. Liabilities and equities
3. Equities
4. None of these

Answer: b

Q7. The results of business activities are reflected in

1. profit and loss account
2. profit and loss appropriation account
3. balance sheet
4. none of these

Answer: c

Q8. Balance sheet is a statement which discloses an organization’s

1. assets
2. liabilities
3. owner’s equity
4. all of these

Answer: d

Q9. Current liabilities need to be paid

1. within one accounting cycle
2. beyond one accounting cycle
3. within 3 years
4. within 6 months
   
   

Answer: a

Q10. Which of the following is a financial asset?

1. Inventories
2. Equipment
3. Loan to an associate
4. Accounts receivable

Answer: d

Q11. The cash flow statement consists of which of the following sections?

1. Operating and non-operating
2. current and non-current
3. operating, investing and financing
4. trading and financial

Answer: c

Q12. When does an accountant record a transaction?

1. If it is materialized by a concrete document
2. if it has a tax implication
3. on Manager’s demand
4. None of these

Answer: a

Q13. Which of the following describes a record of the transactions?

1. General ledger
2. Income statement
3. Balance sheet
4. Journal

Answer: d

Q14. Earnings are the result of the difference between

1. revenue and assets
2. revenue and liabilities
3. liabilities and expenses
4. revenue and expenses

Answer: d

Q15. Which of the following equations represents the balance sheet?

1. Assets + Liabilities = Shareholders’ equity
2. Assets = Liabilities = shareholders’ equity
3. Assets = Liabilities – Shareholders’ equity
4. Assets = Liabilities + Shareholders’ equity

Answer: d

Q16. Financially, shareholders are rewarded by

1. interest
2. profits
3. dividends
4. none of these

Answer: c

Q17. Process control is carried out:

1. Before production
2. During production
3. After production control
4. All of the above

Answer: b

Q18. Low cost, higher volume items requires:

1. No inspection
2. Little inspection
3. Intensive inspection
4. 100% inspection

Answer: b

Q19. High cost, low volume items requires:

1. No inspection
2. Little inspection
3. Intensive inspection
4. 100% inspection

Answer: c

Q20. A six sigma process has defect level below ______ defects per million opportunities.

1. 3.4
2. 4.5
3. 5.6
4. 6.7

Answer: a

Q21. The objective of ISO-9000 family of Quality management is:

1. Customer satisfaction
2. Employee satisfaction
3. Skill enhancement
4. Environmental issues

Answer: a

Q21. The following is (are) the machine down time.

1. Waste
2. No material
3. Breakdown
4. All of the above

Answer: d

Q22. _______ helps organization reduce employee turnover and absenteeism.

1. Job design
2. Training & development
3. Wage revision
4. All of the above

Answer: b

Q23. Inspection assures that:

1. The process is in control
   1. Workers are motivated
   1. Product meets specification
   1. Quality problems are solved
   1. Supplier quality is acceptable

Answer: c

Q24. Procurement cycle time is time consumed for

1. Receiving of raw material
2. Inspection of various raw materials
3. Inspection of purchased components parts
4. All of the above

Answer: d

Q25. Centralized and decentralized are the types of:

1. Routing
2. Dispatching
3. Scheduling
4. Follow up

Answer: b

PART 4