INVENTORY MANAGEMENT

Which of the following is not an inventory?

a. Machines
b. Raw material
c. Finished products
d. Consumable tools
(Ans:a)

The following classes of costs are usually involved in inventory decisions except
a. Cost of ordering
b. Carrying cost
c. Cost of shortages
d. Machining cost
(Ans:d)

The cost of insurance and taxes are included in

a. Cost of ordering
b. Set up cost
c. Inventory carrying cost
d. Cost of shortages
(Ans:c)

‘Buffer stock’ is the level of stock

a. Half of the actual stock
b. At which the ordering process should start
c. Minimum stock level below which actual stock should not fall
d. Maximum stock in inventory
(Ans:c)

The minimum stock level is calculated as

a. Reorder level – (Normal consumption x Normal delivery time)
b. Reorder level + (Normal consumption x Normal delivery time)
c. (Reorder level + Normal consumption) x Normal delivery time
d. (Reorder level + Normal consumption) / Normal delivery time
(Ans:a)

Which of the following is true for Inventory control?

a. Economic order quantity has minimum total cost per order
b. Inventory carrying costs increases with quantity per order
c. Ordering cost decreases with lo size
d. All of the above
(Ans:d)

The time period between placing an order its receipt in stock is known as
e. Lead time
f. Carrying time
g. Shortage time
h. Over time
i. (Ans:a)

Re-ordering level is calculated as

j. Maximum consumption rate x Maximum re-order period
k. Minimum consumption rate x Minimum re-order period
l. Maximum consumption rate x Minimum re-order period
m. Minimum consumption rate x Maximum re-order period
n. (Ans:a)

Average stock level can be calculated as

o. Minimum stock level + ½ of Re-order level
p. Maximum stock level + ½ of Re-order level
q. Minimum stock level + 1/3 of Re-order level
r. Maximum stock level + 1/3 of Re-order level
s. (Ans:a)

The Economic Order Quantity (EOQ) is calculated as

a. (2D*S/h)^1/2
b. (DS*/h)^1/2
c. (D*S/2h)^1/2
d. (D*S/3h)^1/2
Where, D=Annual demand (units), S=Cost per order, h=Annual carrying cost per unit
(Ans:a)

The order cost per order of an inventory is Rs. 400 with an annual carrying cost of Rs. 10 per unit. The
Economic Order Quantity (EOQ) for an annual demand of 2000 units is
e. 400
f. 440
g. 480
h. 500
(Ans:a)

WASTE MANAGEMENT

1. Which of the following is used in the production of Plastic?

(a) Mercury

(b) Lead

(c) Vinyl chloride

(d) None of these

Ans: c

2. What is the PH value of normal rain?

(a) 1

(b) 5.6

(c) 8

(d) 7

Ans: b

3. What is true about Aerobic bacteria?

(a) Flourish in the presence of free oxygen

(b) Consume organic matter as their food

(c) Oxidize organic matter in sewage

(d) All

Ans: d

4. For the survival of fish in a river stream, the minimum dissolved oxygen is
prescribed.

(a) 3 PPm

(b) 5 PPm

(c) 4 PPm

(d) 10PPm

Ans: c

5. The term Municipal Solid Waste (MSW) is generally used to describe:

(a) Wastes from industrial processes, construction and demolition debris.

(b) Wastes from Private homes, commercial establishments and institutions.

(c) Mining wastes

(d) Agricultural wastes

Ans: b

6. The most serious environmental effect posed by hazardous wastes

is ……….

(a) Air pollution

(b) Contamination of groundwater

(c) Increased use of land for landfills.

(d) None of these

Ans: b

7. Problem of solid waste disposal can be reduced through…….

(a) Recycling

(b) Lesser pollution

(c) More timber

(d) Population control

Ans: a

8. Metals are produced as waste in industries like…..

(a) Skiing

(b) Mining

(c) Electroplating

(d) Digging

Ans: c

9. Making new containers from crushed glass helps to…..

(a) Save materials

(b) Save fuel

(c) Both of these

(d) None of these

Ans: c

10. Social, economical and ecological equity is the necessary condition for
achieving

(a) Social development

(b) Economical development

(c) Sustainable development

(d) Ecological development

Ans: c