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LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Multiple Answer Question Wage differentials are of following factors :Correct Answer Difference in labour efficiency , Social esteem , Occupation Select The Blank Question Life and Medical insurance or reimbursement of medical bills is considered as a part of ________. Correct Answer Perks Select The Blank Question Against the past practice of modest gradual increase applicable to all, with only marginal additional to the ________ performer. Correct Answer Good 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 Multiple Choice Multiple Answer Question Due to the paucity of relevant data on wage differentials, it is possible to analyze in India :Correct Answer Wage structure , Pay structure , Salary structure Multiple Choice Multiple Answer Question Any imbalance in input-output relation in any incentive payment scheme can result in :-

Correct Answer Tension , Lower productivity , More absenteeism Multiple Choice Multiple Answer Question In India, Group incentive plans face problems like :Correct Answer High norms of standard work , Illiterate workforce , Numerous slabs in rate structure Multiple Choice Single Answer Question Differential piece rate system is based on :Correct Answer Dual rates for different efficiency levels Select The Blank Question In the history of Indian IT industry, the year 2001-2002 will be remembered as ________. Correct Answer Year of lay-offs Multiple Choice Single Answer Question The social structure of individual's life style is evident in the :Correct Answer Urban society Multiple Choice Single Answer Question Rate range can be developed in many ways, one usually adopted is :Correct Answer Wage curve Multiple Choice Multiple Answer Question Documents useful for the purpose of wage analysis are :Correct Answer Wage sheets , Payroll , Accounting registers

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 Select The Blank Question In Taylor differential piece rate system, high piece rate is applicable if ________. Correct Answer Output is above standard Multiple Choice Single Answer Question For a normal adult the net intake of calories should be :Correct Answer 2700 Multiple Choice Multiple Answer Question In Compensation plans the following are taken into account :Correct Answer Cost of production , Reduction in expenses , Profits made True/False Question IT jobs still remain the best paying jobs in the country. Correct Answer True Multiple Choice Multiple Answer Question Basic compensation systems are :Correct Answer Time rate system , Piece rate system Multiple Choice Multiple Answer Question Various enactments that are applicable to employees of organization are :-

Correct Answer Payment of Gratuity Act , Payment of Bonus Act , Employee's Provident Fund & Misc. Provisions Act Select The Blank Question Piece workers come under ________ class of workers. Correct Answer Semi - skilled Multiple Choice Single Answer Question Minimum wages are not to be fixed in an industry which employs less then how many employees in the entire state? Correct Answer 1000 True/False Question Within the factory group promotion is important. Correct Answer False Multiple Choice Multiple Answer Question In Payroll process, a Journal entry is treated as Control entry to :Correct Answer Book deductions effected during the month , Book expenses for the month on account of payroll , Make remittances to respective authorities Multiple Choice Single Answer Question Co-partnership system tries to :Correct Answer Eliminate friction between capital and labour True/False Question Indirect labour cost forms a part of overheads. Correct Answer True

Match The Following Question Correct Answer Your Answer Top managers Non-financial benefits Non-financial benefits Workers Piece-rate Bonus Salesmen Commission Commission Managers Bonus Compensatory day-off Select The Blank Question ________ is that portion of Dearness Allowance which Government declares to be paid for all purposes. Correct Answer Dearness Pay Multiple Choice Multiple Answer Question A good incentive scheme should have :Correct Answer Elasticity , Parity , Less operational costs Select The Blank Question ________ is the unique code allotted to each & every employee in the organization. Correct Answer Employee No. Multiple Choice Multiple Answer Question Apart from salaries, IT employees are giving importance to :Correct Answer Job content , Job security , Company image

Multiple Choice Multiple Answer Question Major components of compensation :Correct Answer Salary , Basic salary , Consolidated salary Match The Following Question Correct Answer Your Answer Under E.S.I., employer's contribution 0.0475 0.0475 Under E.S.I. employee's contribution 0.0175 0.0175 Employee Pension Scheme is 8.33% of Employer Employer Employer & Employee Contribution under E.P.F. 0.12 0.12 Select The Blank Question The wages of workers not present at the time of payment disbursement should be entered into ________. Correct Answer Undisbursed wage register Multiple Choice Multiple Answer Question Components of wage & salary are :Correct Answer Basic wage , Overtime wage , Dearness allowance Multiple Choice Single Answer Question Basic purpose of Wage and Salary administration is to establish and maintain an equitable :Correct Answer Wage and Salary structure

True/False Question Performance standards & norms for incentive payments should be set up high for better results. Correct Answer False True/False Question To maintain best manpower in the organization, Management Incentive Plan based on the individual performance is necessary. Correct Answer True 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 Multiple Choice Multiple Answer Question In dotcom companies, there is :Correct Answer Direct interaction with customers and client organizations , Reduction of capital cost , Huge no of employees Select The Blank Question ________ had a decisive influence on the wage structure & wage level. Correct Answer Managerial attitude Your Answer Market focus True/False Question Wage and salary administration should be controlled by some proper agency. Correct Answer True Your Answer False

Multiple Choice Single Answer Question The human relations are determined by :Correct Answer Human attitudes Your Answer Human attitudes Multiple Choice Single Answer Question If the ranking plan is used the grade consists of a specific number of :Correct Answer Ranks Your Answer Points Select The Blank Question ________ is a source document for preparation of wage sheet. Correct Answer Attendance Register Your Answer Attendance Register True/False Question Contribution to the Provident Funds are made at certain rate or certain percentage of salary of employee, only by the Employer. Correct Answer False Your Answer False True/False Question Incentive schemes should be installed right from beginning of production. Correct Answer False Your Answer True Multiple Choice Single Answer Question Time spent by same worker on various jobs is recorded on daily basis in :Correct Answer Daily time sheet.

Your Answer Job card.


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LABELS: COMPENSATION MANAGEMENT

Compensation Management - 2
LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Single Answer Question In Payroll process, Cost of Living Index provides the basis for calculating :Correct Answer D.A. Multiple Choice Single Answer Question In developmental phase, the dotcom companies concentrate on :Correct Answer Building brand Multiple Choice Single Answer Question Indirect compensation mainly acts as :Correct Answer Maintenance factor Select The Blank Question compensation should be ________ efficiency & result . Correct Answer Directly proportional Match The Following Question Correct Answer Your Answer Merric's multiple piece rate plan Low piece rate for slow workers and high piece rate for higher production Payment for time saved Emerson efficiency plan

Gradual increase in remuneration based on efficiency Gradual increase in remuneration based on efficiency Co-partnership system Sharing profits undertaking Sharing profits undertaking Taylor's differential piece-rate plan No fear of wage cut Low piece rate for slow workers and high piece rate for higher production Multiple Choice Single Answer Question The expenditure on medical treatment and stay abroad will be exempt only to the extent permitted by :Correct Answer Reserve Bank of India Multiple Choice Multiple Answer Question Extent of employees turnover depends upon :Correct Answer Type of industry , Male to female ratio , Physical conditions within organisation Multiple Choice Single Answer Question At germination stage, to attract and retain talent, dotcom companies offer : Correct Answer Stock option True/False Question Wage & salary are also subject to a variety of legislation & in this context, compliance with existing legislative measure is very important. Correct Answer True Multiple Choice Multiple Answer Question Rate of crime is very high in :Correct Answer Industrial towns , Industrial cities , Industrial districts Multiple Choice Single Answer Question

The persons working in multinational companies occupying the higher positions in hierarchy enjoy :Correct Answer Lavish life-style Multiple Choice Single Answer Question When a dotcom company starts earning profits, promoters are focused on the launch of:Correct Answer IPO Multiple Choice Multiple Answer Question For the valuation of rent free accommodation, 'Salary' includes : Correct Answer D A , Bonus , Education Allowance True/False Question Provident fund is component of gross earnings. Correct Answer False Select The Blank Question ________ are assured of a stable amount of money. Correct Answer Employees Select The Blank Question Generally, the strong & more powerful is the trade union, the ________ are the wages. Correct Answer Higher Multiple Choice Single Answer Question Travel & Tourism agencies is an example of :Correct Answer Hospitality industries

Multiple Choice Single Answer Question In post IPO stage, dotcom company gives its employees :Correct Answer Balanced total reward package Multiple Choice Single Answer Question In recent times, in addition to stock options, employees of dotcom companies are demanding :Correct Answer Cash bonus Multiple Choice Single Answer Question Dotcom companies were founded to go beyond :Correct Answer Physical business Multiple Choice Multiple Answer Question Salesmen are usually given incentives in the form of sales commission because of :Correct Answer Unsupervised nature of most sales work , Tradition in the market , Assumption that incentives are needed to motivate salesman Multiple Choice Multiple Answer Question Following are causes of idle time of labour pertaining to administration :Correct Answer Poor management , Management policy True/False Question Incentive payments should be made at the end of fiscal year. Correct Answer False Multiple Choice Multiple Answer

Question Source documents for preparations of wages are :Correct Answer Daily time sheet , Weekly time sheet. , Attendance register. Multiple Choice Multiple Answer Question Incentive schemes suffer because of :Correct Answer Tendency among workers to sacrifice quality for quantity , Rapid progress in technology , Disregard for safety regulations by workers Multiple Choice Multiple Answer Question Employees are paid incentives on 'Output' basis if :Correct Answer Units of output can be measured , Direct relationship between employee efforts and quantity of output , Jobs are standardised True/False Question In piece rate & time rate combination, if payment is calculated on the basis of piece rate guaranteed and if number of pieces fall below the minimum wages guaranteed, he is paid by time rate (T). Correct Answer True True/False Question Equal remuneration Act, 1976 discriminates on the ground of sex against women in the matter of employment. Correct Answer False Multiple Choice Single Answer Question In metropolitan towns boys and girls are generally marring at the age of :Correct Answer 25 to 35 Multiple Choice Single Answer Question

In high profit making organisation compensation paid is relatively:Correct Answer Higher Select The Blank Question Gross Earnings - Deductions equals ________. Correct Answer Net Earnings Match The Following Question Correct Answer Your Answer Bonus to top management Overall corporate results Overall corporate results Time' incentive plan Delays in work are frequent Unsupervised nature of job Output' Incentive plan Units of output are measurable Units of output are measurable Commission' to salesmen Unsupervised nature of job Group incentive Multiple Choice Single Answer Question If the employment is merely incidental to the exercise of a profession, the gains from such employment would be :Correct Answer Professional earnings Multiple Choice Multiple Answer Question Which of the following are used to compensate major executives? Correct Answer Straight salaries , Bonuses , Profit sharing Multiple Choice Multiple Answer Question Article 43 reads: State shall endeavour to secure by suitable legislation to all :-

Correct Answer Agricultural workers , Industrial , Working in a living wage Select The Blank Question ________ cost do not vary much in proportion to output or volume of production. Correct Answer Direct Labour Multiple Choice Multiple Answer Question The characteristics of profit sharing plan are :Correct Answer Profits are payable at long intervals , Payments to employees are uncertain , Payment is regarded sometimes as windfall gain Multiple Choice Multiple Answer Question Broad groups may be illustrated within manufacturing as :Correct Answer Managerial , Clerical , Factory Multiple Choice Single Answer Question Wages of security men in a production unit comes under :Correct Answer Indirect labour Multiple Choice Single Answer Question Wage Policy is of great concern to :Correct Answer Labour Management & Govt. Select The Blank Question After deducting depreciation and initial or development rebate from profit, we arrive at ________. Correct Answer Surplus profit True/False

Question Education expenses on employee's family members paid or reimbursed by the employer are not taxable. Correct Answer False Select The Blank Question Casual workers comes under ________ class of workers. Correct Answer Unskilled Select The Blank Question Employee's State Insurance Act, ________ is a pioneering measure in the field of social insurance of our country. Correct Answer 1948 Select The Blank Question ________ are also aid to executives a certain percentage of the profits. Correct Answer Bonuses True/False Question Trade unions do affect rate of wages. Correct Answer True Multiple Choice Single Answer Question In the 60's salaries of Bargainable workers increased due to :Correct Answer Success of Union
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LABELS: COMPENSATION MANAGEMENT

MONDAY, FEBRUARY 4, 2008

Compensation Management - 1
Select The Blank Question ________ is that portion of Dearness Allowance which Government declares to be paid for all purposes. Correct Answer Dearness Pay 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 Multiple Choice Multiple Answer Question The aim of a wage & salary policy is :Correct Answer To recognize the value of each job , Provide stability in earning Multiple Choice Single Answer Question The total of direct material, direct labour, direct expenses is called :Correct Answer Prime cost True/False Question E.S.I. Act does make a distinction between technical and non-technical employees. Correct Answer False Select The Blank Question Wages have at least ________ connotations from stand points of employers and employees. Correct Answer 2 Multiple Choice Single Answer

Question In graduated time rates system, if basic salary is Rs.2000 and dearness allowance is 150% then total remuneration will be :Correct Answer Rs.5000/Multiple Choice Single Answer Question Following is method of time booking :Correct Answer Daily time sheet. . Multiple Choice Single Answer Question Work study department is engaged in activities like determining :Correct Answer Standard procedure Select The Blank Question Cost of employee welfare activities comes under ________ cost. Correct Answer Preventive Multiple Choice Single Answer Question Advantage of maintaining hand written register for attendance is :Correct Answer Easy to operate. True/False Question Wage & salary are also subject to a variety of legislation & in this context, compliance with existing legislative measure is very important. Correct Answer True Select The Blank Question In Taylor differential piece rate system, high piece rate is applicable if ________. Correct Answer Output is above standard

Multiple Choice Single Answer Question The expenditure on medical treatment and stay abroad will be exempt only to the extent permitted by :Correct Answer Reserve Bank of India True/False Question Taylor differential piece rate system is difficult to understand and implement. Correct Answer False Multiple Choice Multiple Answer Question Apart from salaries, IT employees are giving importance to :Correct Answer Job content , Job security , Company image Multiple Choice Multiple Answer Question Following are causes of idle time of labour pertaining to production, Correct Answer Failure of electricity. , Breakdown of machinery

True/False Question The payment of profit sharing plan is of uncertain nature because of uncertainty of profits to the company. Correct Answer True True/False Question Indirect labour cost are distributed on a basis of suitable proportion. Correct Answer True

Multiple Choice Multiple Answer Question In Compensation plans the following are taken into account :Correct Answer Cost of production , Reduction in expenses , Profits made Select The Blank Question In Gantt task plan of compensation, if output is below standard, then worker gets payment as per ________. Correct Answer Time rate Select The Blank Question ________ generated out of payroll system shows amounts of debits and credits. Correct Answer Journal entry True/False Question If an employee pays fees for attending some management course, the fees can be allowed for deduction from salary income. Correct Answer False

Multiple Choice Multiple Answer Question Jobs are graded according to the relative skill :Correct Answer Effort , Responsibility , Calculations Multiple Choice Single Answer Question In recent times, in addition to stock options, employees of dotcom companies are demanding :Correct Answer Cash bonus Multiple Choice Multiple Answer

Question The characteristics of profit sharing plan are :Correct Answer Profits are payable at long intervals , Payments to employees are uncertain , Payment is regarded sometimes as windfall gain 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 Multiple Choice Single Answer Question Towns are getting converted into cities and cities into :Correct Answer Metro Multiple Choice Single Answer Question Aggregate costs change, if there is change in volume of output in case of :Correct Answer Marginal cost Multiple Choice Single Answer Question For designing profit sharing plan, the company has to first :Correct Answer Determine organisation's profit for year Multiple Choice Single Answer Question Cost of labour minute operation is available from :Correct Answer Job cards. Select The Blank Question Life and Medical insurance or reimbursement of medical bills is considered as a part of ________.

Correct Answer Perks Multiple Choice Multiple Answer Question For adequate and effective internal check on disbursement of wages, these factors are important :Correct Answer Proper time recording , Proper record of output by workers , Well-defined terms of remuneration and incentive schemes Match The Following Question Correct Answer Your Answer Remuneration Employees Managers Wage Differentials Three categories Employees Mathematical tables Calculations Calculations Elements of good Wage Plan Two Three categories True/False Question Any other amenity or service excluded from the computation of wages by a general or special order of appropriate Govt. Correct Answer False Select The Blank Question There are ________ basic traditional system of job evaluation. Correct Answer 4 Select The Blank Question The scanlon plan of profit sharing gives utmost importance to ________. Correct Answer

Employee participation Multiple Choice Multiple Answer Question Group incentive plans may not become successful due to :Correct Answer Unevenness of performance of different members of groups , Ill-feeling among group members , No recognition for individual performance Select The Blank Question ________ is a source document for preparation of wage sheet. Correct Answer Attendance Register True/False Question Incentive schemes should be installed right from beginning of production. Correct Answer False True/False Question Performance standards & norms for incentive payments should be set up high for better results. Correct Answer False Multiple Choice Single Answer Question In post IPO stage, dotcom company gives its employees :Correct Answer Balanced total reward package Select The Blank Question After deducting depreciation and initial or development rebate from profit, we arrive at ________. Correct Answer Surplus profit Match The Following Question

Correct Answer Your Answer Bonus to top management Overall corporate results Overall corporate results Time' incentive plan Delays in work are frequent Technological advancement Output' Incentive plan Units of output are measurable Units of output are measurable Commission' to salesmen Unsupervised nature of job Unsupervised nature of job Multiple Choice Multiple Answer Question Job analysis describes :Correct Answer Duties , Responsibilities , Working conditions True/False Question Surprise check on calculation & disbursement of payments is necessary to avoid any fraud. Correct Answer True Multiple Choice Multiple Answer Question Time rate systems are :Correct Answer Ordinary level , High wage level , Graduated time rates True/False Question An employee gets deduction to the extent, professional tax paid by him from income chargeable under 'salaries'. Correct 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 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 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 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 Multiple Choice Multiple Answer Question Extent of employees turnover depends upon :Correct 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 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

Match The Following Question Correct Answer Your Answer Cost accounting Dept. Accumulation & classification all cost data Personnel Dept. Selection & training of employees. Payroll Dept. Maintain record of wage rate of each employee. Engineering Dept. Preparation of time & motion studies 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 Multiple Choice Multiple Answer Question Following are economic causes of idle time of labour :Correct Answer Trade cycles. , Non availability of working capital. True/False Question Incentive schemes sometimes lead to jealousies and misunderstanding among the workers. Correct 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 True/False Question Any contribution to pension, provident fund or a scheme of social security etc. amounts to wages. Correct Answer False Select The Blank Question Payment to out workers is done on ________ basis. Correct Answer Monthly Multiple Choice Single Answer Question For a normal adult the net intake of calories should be :Correct 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 Multiple Choice Single Answer Question By using straight piece rate system of compensation output :Correct Answer Increases Multiple Choice Multiple Answer Question Apart from salaries, IT employees are giving importance to :Correct 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 Multiple Choice Single Answer Question Gate time keeping helps for :Correct Answer Payroll preparations. Select The Blank Question Overtime payment given to the worker due to inefficiency of other department is charged to ________. Correct Answer Responsible Department 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 True/False Question Equal remuneration Act, 1976 discriminates on the ground of sex against women in the matter of employment. Correct Answer False Multiple Choice Multiple Answer Question Level II in junior managers comprises of :Correct Answer Engineers , Officers , Senior Engineers

Multiple Choice Single Answer Question Better production planning & control is facilitated through :Correct Answer Job cards. 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 Select The Blank Question Generally, the strong & more powerful is the trade union, the ________ are the wages. Correct Answer Higher Multiple Choice Single Answer Question In post IPO stage, dotcom company gives its employees :Correct Answer Balanced total reward package True/False Question Provident fund is component of gross earnings. Correct Answer False 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. True/False Question Monitory payment often act as motivators and satisfiers interdependently of other job factors. Correct Answer True Multiple Choice Single Answer Question In high profit making organisation compensation paid is relatively:Correct Answer Higher Multiple Choice Multiple Answer Question Components of deductions in salary are :Correct Answer E.S.I. , Housing loan installment. Multiple Choice Single Answer Question Long-term wage Incentive plans are useful, where :Correct 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 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 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 Multiple Choice Multiple Answer Question Bonus, as the incentive to managers is determined :Correct Answer By formula , By discretion used in allocation of bonus 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 True/False Question Overtime paid for uncontrollable reasons is charged to Profit and Loss Account. Correct Answer True True/False Question Economic system does result in the concentration of wealth. Correct Answer False Multiple Choice Single Answer

Question As industrialization taking place, the family values have :Correct 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 Select The Blank Question Today there is strong competition for acquiring as much ________ as possible. Correct 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

LIST OF ATTEMPTED QUESTIONS AND ANSWERS Multiple Choice Multiple Answer Question Profit sharing, as an incentive plan, realizes these advantages :Correct Answer Higher profits , Increased efficiency , Climate for better employee relations Select The Blank Question Inter-firm differentials reflect ________ wage levels of workers. Correct Answer Relative Multiple Choice Multiple Answer

Question In effective incentive plan, standards on which plan is based should be :Correct Answer Fair , Reasonable , Specific 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. Selection & training of employees. 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 Preparation of drawings Multiple Choice Single Answer Question Gate time keeping helps for :Correct Answer Payroll preparations. True/False Question Incentive schemes should be installed right from beginning of production. Correct Answer False True/False Question In industrialization there is not always mass production. Correct Answer False

Multiple Choice Multiple Answer Question Incentive plans fail due to :Correct Answer Unfair standards , Fear of rate cut , Lack of required tools / training Select The Blank Question Cost of time spent on conducting interviews & selecting a candidate for ________ is called Replacement cost. Correct Answer Replacement Select The Blank Question ________ of payment recognizes that individuals are concerned about the money paid to them and also the relationship of this amount to what others are paid. Correct Answer Equity approach Select The Blank Question Cost of employee welfare activities comes under ________ cost. Correct Answer Preventive Multiple Choice Multiple Answer Question Components of deductions in salary are :Correct Answer E.S.I. , Housing loan installment. Multiple Choice Single Answer Question As industrialization taking place, the family values have :Correct Answer Changed True/False Question Compensation policy does not need criteria for promotions. Correct Answer False

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 Multiple Choice Single Answer Question Control of labour cost is essential in every organisation to :Correct Answer Determine indirect labour cost. Multiple Choice Multiple Answer Question In India, Group incentive plans face problems like :Correct Answer Numerous slabs in rate structure , High norms of standard work , Illiterate workforce True/False Question If the employee receives conveyance allowance, or, he is provided with a vehicle by employer, he is not eligible to get 'Standard deduction' from his salary. Correct Answer False Multiple Choice Single Answer Question Carpenters engaged in cutting of wood in a furniture making shop is an example of :Correct Answer Direct labour Multiple Choice Multiple Answer Question Employees cost to the company includes :Correct Answer Basic wages , Incentives Select The Blank

Question Process of readjustment inevitable calls for changes in the ________ system and its practice. Correct Answer Human Resource Match The Following Question Correct Answer Your Answer Idle time due to tea breaks Direct costs Basic Salary Gross Earning Professional Tax Deductions Overtime due to general pressure of work Indirect costs. True/False Question Indirect labour cost forms a part of overheads. Correct Answer True Multiple Choice Multiple Answer Question Documents useful for the purpose of wage analysis are :Correct Answer Wage sheets , Payroll , Accounting registers Multiple Choice Multiple Answer Question Level II in junior managers comprises of :Correct Answer Engineers , Officers , Senior Engineers Select The Blank Question Gross Earnings - Deductions equals ________. Correct Answer Net Earnings Multiple Choice Single Answer Question When the cost of living increases, workmen and trade unions demanded to :Correct Answer Increase the wage

Multiple Choice Single Answer Question It was commonly believed by Hindus that marriage was :Correct Answer Necessary Multiple Choice Single Answer Question If the employment is merely incidental to the exercise of a profession, the gains from such employment would be :Correct Answer Professional earnings Select The Blank Question Factors not related to money can also serve as ________. Correct Answer Attention seekers Select The Blank Question Wage differentials have been classified into ________ categories. Correct Answer 3 Multiple Choice Multiple Answer Question Source documents for preparations of wages are :Correct Answer Daily time sheet , Weekly time sheet. , Attendance register. Select The Blank Question ________ is necessary to calculate Dearness Allowance in Payroll process. Correct Answer Cost of Living Index Multiple Choice Single Answer

Question In profit-sharing plan, the proportion of profits to be distributed among the employees is determined :Correct Answer In advance True/False Question If the car is used for office duty, only the value of the use of motor car is taken as 'NIL'. Correct Answer True Multiple Choice Single Answer Question Long-term wage Incentive plans are useful, where :Correct Answer Jobs are inter-related Multiple Choice Single Answer Question Hospitality industries includes :Correct Answer Hotels Select The Blank Question Today there is strong competition for acquiring as much ________ as possible. Correct Answer Wealth True/False Question Performance standards & norms for incentive payments should be set up high for better results. Correct Answer False True/False Question Accumulated leave pay is treated as Indirect expenses. Correct Answer True True/False

Question House rent allowance paid to a employee residing in his own house is not exempt from tax. Correct Answer True 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 Multiple Choice Multiple Answer Question The approach of managerial / executive staff towards the perquisites has changed since last :Correct Answer 10 years , 9 years , 8 years Multiple Choice Single Answer Question Monetary incentives imply :Correct Answer External motivation Select The Blank Question A person would readily respond to opportunities related to jobs if he has strong need for ________. Correct Answer Affiliation True/False Question Halsey Premium plan is a combination of the day wage & piece wage in modified form. Correct Answer True Multiple Choice Single Answer Question Production planning includes :Correct Answer Product engineering.
Multiple Choice Multiple Answer

Question

Extent of employees turnover depends upon :-

Correct Answer Physical conditions within organisation , Type of industry , Male to female ratio

True/False Question

Performance standards & norms for incentive payments should be set up high for better results. Correct Answer False

Multiple Choice Multiple Answer Question E.S.I. Act aims at providing for certain cash benefits to employees in case of :Correct Answer Sickness , Maternity , Medical

True/False Question

Employer's contribution to Superannuation Fund is taxable.

Correct Answer False

Multiple Choice Multiple Answer Question Forces that favour regional differences are :Correct Answer Low mobility , Lower skilled job , Sources of income

True/False Question

The goals and ideals of a traditional Indian family were spiritual and religious. Correct Answer True

Multiple Choice Single Answer Question In graduated time rates system, if basic salary is Rs.2000 and dearness allowance is 150% then total remuneration will be :Correct Answer Rs.5000/-

Match The Following Question Top managers Workers Salesmen Managers

Correct Answer Non-financial benefits Piece-rate Commission Bonus

Select The Blank Question The scanlon plan of profit sharing gives utmost importance to ________. Correct Answer Employee participation

True/False Question

If workers do not understand relationship between performance and rewards, incentive plans cannot motivate workers. Correct Answer True

Multiple Choice Single Answer Question Financial &/or quantitative statement prepared & approved prior to period of time is called :Correct Answer Budget

Multiple Choice Multiple Answer Question Group incentive plans may not become successful due to :Correct Answer Unevenness of performance of different members of groups , Ill-feeling among group members , No recognition for individual performance

True/False Question

Bonus is component of deductions.

Correct Answer False

Select The Blank

Question

The ________ criterion is usually regarded as an automatic minimum equity pay criterion. Correct Answer Cost of living pay

Multiple Choice Single Answer Question Wages of security men in a production unit comes under :Correct Answer Indirect labour

Multiple Choice Multiple Answer Question Major features of production are :Correct Answer Labour , Land , Capital

True/False Question

The Scanlon plan of profit sharing is more effective where no of participants is more than 1000. Correct Answer False

Multiple Choice Multiple Answer Question Incentive plans fail due to :Correct Answer Lack of required tools / training , Unfair standards , Fear of rate cut

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

Select The Blank Question Persons interested in enhancing their reputations and receiving recognition may respond to ________. Correct Answer Verbal praise

Multiple Choice Multiple Answer Question Profit sharing, as an incentive plan, realizes these advantages :Correct Answer Higher profits , Increased efficiency , Climate for better employee relations

Multiple Choice Single Answer Question Characteristic of a good compensation system is :Correct Answer Higher the efficiency of worker, higher is compensation.

Multiple Choice Single Answer Question The institutions of marriage and family are also to be found in every :Correct Answer Society

Multiple Choice Single Answer Question Hospitality industries includes :Correct Answer Hotels

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

Select The Blank Question For higher management, ________ are influenced by the size of a company, specific industry and the process of decision making. Correct Answer Salaries

True/False Question

Indirect labour cost forms a part of overheads.

Correct Answer True

True/False Question

Salary is still the only or chief motivator for IT employees.

Correct Answer False

Multiple Choice Single Answer Question Perquisites taxable in all cases include :Correct Answer Value of rent free accommodation provided by employer to his employee

Multiple Choice Multiple Answer Question A good incentive scheme should have :Correct Answer Elasticity , Parity , Less operational costs

Select The Blank Question In Taylor differential piece rate system, high piece rate is applicable if ________. Correct Answer Output is above standard

Select The Blank Question Leave pay of current year is treated as ________. Correct Answer Direct Expenses

Select The Blank Question Cost of time spent on conducting interviews & selecting a candidate for ________ is called Replacement cost. Correct Answer Replacement

Multiple Choice Single Answer Question One worker is working under piece rate & time rate combination system of compensation. He has worked in a week of 06 days consisting of 48 hours.

His hourly rate is Rs.2/- per piece. His output for the week is 40 units. What will be his earning ? Correct Answer Rs.96/-

Multiple Choice Multiple Answer Question Wage differentials are of following factors :Correct Answer Difference in labour efficiency , Social esteem , Occupation

Multiple Choice Single Answer Question Monetary incentives imply :Correct Answer External motivation

Multiple Choice Multiple Answer Question Documents useful for the purpose of wage analysis are :Correct Answer Wage sheets , Payroll , Accounting registers

Multiple Choice Single Answer Question Variance analysis is done in case of :Correct Answer Standard costing

Multiple Choice Single Answer Question If classification system is used, the jobs are already categorized into grade or :Correct Answer Class

Select The Blank Question Inter-firm differentials reflect ________ wage levels of workers. Correct Answer Relative

Multiple Choice Single Answer Question Wage Policy is of great concern to :Correct Answer Labour Management & Govt.

Select The Blank Question ________ of payment recognizes that individuals are concerned about the money paid to them and also the relationship of this amount to what others are paid. Correct Answer Equity approach

Match The Following Question Institutions of marriages & family Past Marriages True/False Question

Correct Answer Society Permanent

Your Answer

Incentive payments should be made at the end of fiscal year.

Correct Answer False

True/False Question

Most companies as against earlier visible cost don't use the "Total Cost To The Company". Correct Answer False

Select The Blank Question During the research it was found that in certain cities prevailing wage rate are ________where as organizational ability to pay is more. Correct Answer Very low

Select The Blank Question In the history of Indian IT industry, the year 2001-2002 will be remembered as ________.

Correct Answer Year of lay-offs