Compensation Management Final

8/3/2019 Compensation Management Final

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SCDL_PGDBA_HR_SEM4_COMP_MGMT_1_PRAGYA

Multiple Choice Multiple AnswerQuestion Extent of employees turnover depends upon :-

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

Your Answer Type of industry , Physical conditions within organisation , Educational levels of

employees

True/ FalseQuestion Performance standards & norms for incentive payments should be set up high for

better results.

Correct Answer False

Your Answer True

Multiple Choice Multiple AnswerQuestion E.S.I. Act aims at providing for certain cash benefits to employees in case of :-

Correct Answer Sickness , Maternity , Medical

Your Answer Sickness , Maternity , Medical , Child Education

True/ FalseQuestion Employer's contribution to Superannuation Fund is taxable.


Your Answer True

Multiple Choice Multiple AnswerQuestion Forces that favour regional differences are :-

Correct Answer Low mobility , Lower skilled job , Sources of income

Your Answer Low mobility , Lower skilled job , Sources of income , Compensation structure

True/ FalseQuestion The goals and ideals of a traditional Indian family were spiritual and religious.

Correct Answer True

Your Answer True

Multiple Choice Single AnswerQuestion 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/-

Your Answer Rs.3000/-

Match The Follow ing

Question Correct Answer Your Answer

Top managers Non-financial benefits Compensatory day-off

Workers Piece-rate Piece-rate


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Salesmen Commission Bonus

Managers Bonus Overtime

Select The BlankQuestion The scanlon plan of profit sharing gives utmost importance to ________.

Correct Answer Employee participation

Your Answer Employee participation

True/ FalseQuestion If workers do not understand relationship between performance and rewards,

incentive plans cannot motivate workers.

Correct Answer True

Your Answer True

Multiple Choice Single AnswerQuestion Financial &/ or quantitative statement prepared & approved prior to period of time is

called :-

Correct Answer Budget

Your Answer Budget

Multiple Choice Multiple AnswerQuestion 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 performanceYour Answer Unevenness of performance of different members of groups , Ill-feeling among group

members , No recognition for individual performance

True/ FalseQuestion Bonus is component of deductions.


Your Answer False

Select The Blank

Question The ________ criterion is usually regarded as an automatic minimum equity paycriterion.

Correct Answer Cost of living pay

Your Answer Prevailing market rate

Multiple Choice Single AnswerQuestion Wages of security men in a production unit comes under :-

Correct Answer Indirect labour

Your Answer Direct labour

Multiple Choice Multiple Answer


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Question Major features of production are :-

Correct Answer Labour , Land , Capital

Your Answer Labour , Land , Capital , Machines

True/ FalseQuestion The Scanlon plan of profit sharing is more effective where no of participants is more

than 1000.


Your Answer False

Multiple Choice Multiple AnswerQuestion Incentive plans fail due to :-

Correct Answer Lack of required tools / training , Unfair standards , Fear of rate cut

Your Answer Unfair standards , Fear of rate cut , Lack of support of top management

Multiple Choice Multiple AnswerQuestion Objectives laid dow n by I.L.O. are :-

Correct Answer Abolish malpractices , Abuse in wage payment , Promo te Trade Union

Your Answer Abolish malpractices , Abuse in wage payment , Increase economic welfare

Select The BlankQuestion Persons interested in enhancing their reputations and receiving recognition may

respond to ________.

Correct Answer Verbal praise

Your Answer Verbal praise

Multiple Choice Multiple AnswerQuestion Profit sharing, as an incentive plan, realizes these advantages :-

Correct Answer Higher profits , Increased efficiency , Climate for better employee relations

Your Answer Higher profits , Increased efficiency , Climate for better employee relations

Multiple Choice Single AnswerQuestion Characteristic of a good compensation system is :-

Correct Answer Higher the efficiency of wo rker, higher is compensation.

Your Answer Higher the efficiency of wo rker, higher is compensation.

Multiple Choice Single AnswerQuestion The institutions of marriage and family are also to be found in every :-

Correct Answer Society

Your Answer Society


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Multiple Choice Single AnswerQuestion Hospitality industries includes :-

Correct Answer Hotels

Your Answer Hotels

Multiple Choice Multiple AnswerQuestion To make Scanlon plan successful, there should be :-

Correct Answer Stable product lines and costs , Strong commitment to plan , Healthy labour relations

Your Answer Stable product lines and costs , Strong commitment to plan , Healthy labour relations ,Large no of participants

Select The BlankQuestion For higher management, ________ are influenced by the size of a company, specific

industry and the process of decision making.

Correct Answer Salaries

Your Answer Incentives

True/ FalseQuestion Indirect labour cost forms a part of overheads.

Correct Answer True

Your Answer True

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


Your Answer True

Multiple Choice Single AnswerQuestion Perquisites taxable in all cases include :-

Correct Answer Value of rent free accommodation provided by employer to his employee

Your Answer Medical reimbursement

Multiple Choice Multiple AnswerQuestion A good incentive scheme should have :-

Correct Answer Elasticity , Parity , Less operational costs

Your Answer Elasticity , Parity , Less operational costs , High performance standards

Select The BlankQuestion In Taylor differential piece rate system, high piece rate is applicable if ________.

Correct Answer Output is above standard

Your Answer Output is above standard


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Select The BlankQuestion Leave pay of current year is treated as ________.

Correct Answer Direct Expenses

Your Answer Direct cost

Select The BlankQuestion Cost of time spent on conducting interviews & selecting a candidate for ________ is

called Replacement cost.

Correct Answer Replacement

Your Answer Replacement

Multiple Choice Single AnswerQuestion One worker is working under piece rate & time rate combination system of

compensation. He has worked in a w eek of 06 days consisting of 48 hours. His hourlyrate is Rs.2/- per pi ece. His output for the week is 40 units. What w ill be his earning ?

Correct Answer Rs.96/ -

Your Answer Rs.96/ -

Multiple Choice Multiple AnswerQuestion Wage differentials are of follow ing factors :-

Correct Answer Difference in labour efficiency , Social esteem , Occupation

Your Answer Difference in labour efficiency , Occupation

Multiple Choice Single AnswerQuestion Monetary incentives imply :-

Correct Answer External motivation

Your Answer Internal motivation

Multiple Choice Multiple AnswerQuestion Documents useful for the purpose of wage analysis are :-

Correct Answer Wage sheets , Payroll , Accounting registers

Your Answer Wage sheets , Payroll , Accounting registers , Historical records of employees

Multiple Choice Single AnswerQuestion Variance analysis is done in case of :-

Correct Answer Standard costing

Your Answer Budgetary costing

Multiple Choice Single AnswerQuestion If classification system is used, the jobs are already categorized into grade or :-

Correct Answer Class


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Your Answer Departments

Select The BlankQuestion Inter-firm differentials reflect ________ wage levels of wo rkers.

Correct Answer Relative

Your Answer Relative

Multiple Choice Single AnswerQuestion Wage Policy is of great concern to :-

Correct Answer Labour Management & Govt.

Your Answer Labour Management & Govt.

Select The BlankQuestion ________ of payment recognizes that individuals are concerned about the money paid

to them and also the relationship of this amount to w hat others are paid.

Correct Answer Equity approach

Your Answer Employee-centered approach

Match The Follow ing


Institutions of marriages & family Society Metros

Past Marriages Permanent Society

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


Your Answer False

True/ FalseQuestion Most companies as against earlier visible cost don't use the "Total Cost To The

Company".


Your Answer False

Select The BlankQuestion 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

Your Answer Very low

Select The BlankQuestion In the history of Indian IT industry, the year 2001-2002 will be remembered as

________.


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Correct Answer Year of lay-offs

Your Answer Year of lay-offs


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Multiple Choice Multiple AnswerQuestion Extent of employees turnover depends upon :-

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

Your Answer Type of industry , Physical conditions within organisation ,Educational levels of employees

True/FalseQuestion Performance standards & norms for incentive payments should be

set up high for better results.Correct Answer False

Your Answer True

Multiple Choice Multiple AnswerQuestion E.S.I. Act aims at providing for certain cash benefits to employees in

case of :-Correct Answer Sickness , Maternity , Medical

Your Answer Sickness , Maternity , Medical , Child Education

True/FalseQuestion Employer's contribution to Superannuation Fund is taxable.


Your Answer True

Multiple Choice Multiple AnswerQuestion Forces that favour regional differences are :-

Correct Answer Low mobility , Lower skilled job , Sources of income

Your Answer Low mobility , Lower skilled job , Sources of income , Compensationstructure

True/FalseQuestion The goals and ideals of a traditional Indian family were spiritual and

religious.Correct Answer True

Your Answer True

Multiple Choice Single AnswerQuestion 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/-

Your Answer Rs.3000/-

Match The Following



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Top managers Non-financial benefits Compensatory day-off

Workers Piece-rate Piece-rate

Salesmen Commission Bonus

Managers Bonus Overtime

Select The BlankQuestion The scanlon plan of profit sharing gives utmost importance to

________.Correct Answer Employee participation

Your Answer Employee participation

True/False

Question If workers do not understand relationship between performance andrewards, incentive plans cannot motivate workers.

Correct Answer True

Your Answer True

Multiple Choice Single AnswerQuestion Financial &/or quantitative statement prepared & approved prior to

period of time is called :-Correct Answer Budget

Your Answer Budget

Multiple Choice Multiple AnswerQuestion 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 individualperformance

Your Answer Unevenness of performance of different members of groups , Ill-feeling among group members , No recognition for individualperformance

True/FalseQuestion Bonus is component of deductions.


Your Answer False

Select The BlankQuestion The ________ criterion is usually regarded as an automatic minimum

equity pay criterion.Correct Answer Cost of living pay

Your Answer Prevailing market rate


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Multiple Choice Single AnswerQuestion Wages of security men in a production unit comes under :-

Correct Answer Indirect labour

Your Answer Direct labour

Multiple Choice Multiple AnswerQuestion Major features of production are :-

Correct Answer Labour , Land , Capital

Your Answer Labour , Land , Capital , Machines

True/FalseQuestion The Scanlon plan of profit sharing is more effective where no of

participants is more than 1000.Correct Answer False

Your Answer False

Multiple Choice Multiple AnswerQuestion Incentive plans fail due to :-

Correct Answer Lack of required tools / training , Unfair standards , Fear of rate cut

Your Answer Unfair standards , Fear of rate cut , Lack of support of topmanagement

Multiple Choice Multiple AnswerQuestion Objectives laid down by I.L.O. are :-

Correct Answer Abolish malpractices , Abuse in wage payment , Promote TradeUnion

Your Answer Abolish malpractices , Abuse in wage payment , Increase economicwelfare

Select The BlankQuestion Persons interested in enhancing their reputations and receiving

recognition may respond to ________.Correct Answer Verbal praise

Your Answer Verbal praise

Multiple Choice Multiple AnswerQuestion Profit sharing, as an incentive plan, realizes these advantages :-

Correct Answer Higher profits , Increased efficiency , Climate for better employeerelations

Your Answer Higher profits , Increased efficiency , Climate for better employeerelations

Multiple Choice Single AnswerQuestion Characteristic of a good compensation system is :-


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Correct Answer Higher the efficiency of worker, higher is compensation.

Your Answer Higher the efficiency of worker, higher is compensation.

Multiple Choice Single AnswerQuestion The institutions of marriage and family are also to be found in every :-

Correct Answer Society

Your Answer Society

Multiple Choice Single AnswerQuestion Hospitality industries includes :-

Correct Answer Hotels

Your Answer Hotels

Multiple Choice Multiple AnswerQuestion To make Scanlon plan successful, there should be :-

Correct Answer Stable product lines and costs , Strong commitment to plan , Healthylabour relations

Your Answer Stable product lines and costs , Strong commitment to plan , Healthylabour relations , Large no of participants

Select The BlankQuestion For higher management, ________ are influenced by the size of a

company, specific industry and the process of decision making.

Correct Answer Salaries

Your Answer Incentives

True/FalseQuestion Indirect labour cost forms a part of overheads.

Correct Answer True

Your Answer True

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


Your Answer True

Multiple Choice Single AnswerQuestion Perquisites taxable in all cases include :-

Correct Answer Value of rent free accommodation provided by employer to hisemployee

Your Answer Medical reimbursement


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Multiple Choice Multiple AnswerQuestion A good incentive scheme should have :-

Correct Answer Elasticity , Parity , Less operational costs

Your Answer Elasticity , Parity , Less operational costs , High performance

standards

Select The BlankQuestion In Taylor differential piece rate system, high piece rate is applicable if

________.Correct Answer Output is above standard

Your Answer Output is above standard

Select The BlankQuestion Leave pay of current year is treated as ________.

Correct Answer Direct Expenses

Your Answer Direct cost

Select The BlankQuestion Cost of time spent on conducting interviews & selecting a candidate

for ________ is called Replacement cost.Correct Answer Replacement

Your Answer Replacement

Multiple Choice Single AnswerQuestion One worker is working under piece rate & time rate combination

system of compensation. He has worked in a week of 06 daysconsisting of 48 hours. His hourly rate is Rs.2/- per piece. His outputfor the week is 40 units. What will be his earning ?

Correct Answer Rs.96/-

Your Answer Rs.96/-

Multiple Choice Multiple AnswerQuestion Wage differentials are of following factors :-

Correct Answer Difference in labour efficiency , Social esteem , Occupation

Your Answer Difference in labour efficiency , Occupation


Correct Answer External motivation

Your Answer Internal motivation



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Question Documents useful for the purpose of wage analysis are :-

Correct Answer Wage sheets , Payroll , Accounting registers

Your Answer Wage sheets , Payroll , Accounting registers , Historical records ofemployees

Multiple Choice Single AnswerQuestion Variance analysis is done in case of :-

Correct Answer Standard costing

Your Answer Budgetary costing

Multiple Choice Single AnswerQuestion If classification system is used, the jobs are already categorized into

grade or :-Correct Answer Class

Your Answer Departments

Select The BlankQuestion Inter-firm differentials reflect ________ wage levels of workers.

Correct Answer Relative

Your Answer Relative

Multiple Choice Single Answer

Question Wage Policy is of great concern to :-

Correct Answer Labour Management & Govt.

Your Answer Labour Management & Govt.

Select The BlankQuestion ________ of payment recognizes that individuals are concerned

about the money paid to them and also the relationship of thisamount to what others are paid.

Correct Answer Equity approach

Your Answer Employee-centered approach

Match The Following


Institutions of marriages &family

Society Metros

Past Marriages Permanent Society

True/False

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


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Your Answer False

True/FalseQuestion Most companies as against earlier visible cost don't use the "Total

Cost To The Company".Correct Answer False

Your Answer False

Select The BlankQuestion 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

Your Answer Very low

Select The BlankQuestion In the history of Indian IT industry, the year 2001-2002 will be

remembered as ________.Correct Answer Year of lay-offs

Your Answer Year of lay-offs

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Multiple AnswerQuestion Profit sharing, as an incentive plan, realizes

these advantages :-Correct Answer Higher profits , Increased efficiency ,

Climate for better employee relationsYour Answer Increased efficiency , Climate for better

employee relations , Curbed union activities

Select The BlankQuestion Inter-firm differentials reflect ________ wage

levels of workers.Correct Answer RelativeYour Answer Relative

Multiple Choice Multiple AnswerQuestion In effective incentive plan, standards on which

plan is based should be :-Correct Answer Fair , Reasonable , Specific


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Your Answer Fair , Reasonable , Specific

Match The FollowingQuestion Correct Answer Your Answer

Cost accounting Dept. Accumulation & classification all costdata Accumulation & classification all cost data

Personnel Dept. Selection & training of employees. Selection& training of employees.

Payroll Dept. Maintain record of wage rate of eachemployee. Maintain record of wage rate of each employee.

Engineering Dept. Preparation of time & motion studiesPreparation of drawings

Multiple Choice Single AnswerQuestion Gate time keeping helps for :-Correct Answer Payroll preparations.

Your Answer Payroll preparations.

True/FalseQuestion Incentive schemes should be installed right from

beginning of production.Correct Answer FalseYour Answer False

True/FalseQuestion In industrialization there is not always massproduction.Correct Answer FalseYour Answer True

Multiple Choice Multiple AnswerQuestion Incentive plans fail due to :-Correct Answer Unfair standards , Fear of rate cut , Lack

of required tools / training


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Your Answer Unfair standards , Fear of rate cut , Lack ofsupport of top management

Select The Blank

Question Cost of time spent on conducting interviews &selecting a candidate for ________ is called Replacementcost.Correct Answer ReplacementYour Answer Replacement

Select The BlankQuestion ________ of payment recognizes that

individuals are concerned about the money paid to them andalso the relationship of this amount to what others are paid.Correct Answer Equity approachYour Answer Market approach

Select The BlankQuestion Cost of employee welfare activities comes under

________ cost.Correct Answer Preventive

Your Answer Indirect Labour

Multiple Choice Multiple AnswerQuestion Components of deductions in salary are :-Correct Answer E.S.I. , Housing loan installment.Your Answer E.S.I. , Housing loan installment.


Question As industrialization taking place, the familyvalues have :-Correct Answer ChangedYour Answer Gone high

True/FalseQuestion Compensation policy does not need criteria for

promotions.Correct Answer FalseYour Answer False


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Multiple Choice Multiple AnswerQuestion 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 productionYour Answer There are standardised methods of

production , Standard time can not be accurately measured ,Fixed costs are higher in proportion to veriable cost , It ispossible to count production accurately

Multiple Choice Single AnswerQuestion Control of labour cost is essential in every

organisation to :-Correct Answer Determine indirect labour cost.Your Answer Control direct expenses.

Multiple Choice Multiple AnswerQuestion In India, Group incentive plans face problems

like :-Correct Answer Numerous slabs in rate structure , High

norms of standard work , Illiterate workforceYour Answer High norms of standard work , Illiterate

workforce , Numerous slabs in rate structure

True/FalseQuestion If the employee receives conveyance allowance,

or, he is provided with a vehicle by employer, he is noteligible to get 'Standard deduction' from his salary.

Correct Answer FalseYour Answer False

Multiple Choice Single AnswerQuestion Carpenters engaged in cutting of wood in a

furniture making shop is an example of :-Correct Answer Direct labourYour Answer Direct labour



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Question Employees cost to the company includes :-Correct Answer Basic wages , IncentivesYour Answer Cost of personnel administration , Basic

wages , Dearness allowance , Incentives

Select The BlankQuestion Process of readjustment inevitable calls for

changes in the ________ system and its practice.Correct Answer Human ResourceYour Answer Human Resource

Match The FollowingQuestion Correct Answer Your Answer

Idle time due to tea breaks Direct costs Indirect costs.

Basic Salary Gross Earning Net Earning

Professional Tax Deductions Deductions

Overtime due to general pressure of work Indirect costs.

Direct costs

True/FalseQuestion Indirect labour cost forms a part of overheads.Correct Answer TrueYour Answer True

Multiple Choice Multiple AnswerQuestion Documents useful for the purpose of wageanalysis are :-Correct Answer Wage sheets , Payroll , Accounting

registersYour Answer Wage sheets , Payroll , Accounting registers

, Historical records of employees

Multiple Choice Multiple AnswerQuestion Level II in junior managers comprises of :-


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Correct Answer Engineers , Officers , Senior EngineersYour Answer Engineers , Officers , Senior Engineers

Select The Blank

Question Gross Earnings - Deductions equals ________.Correct Answer Net EarningsYour Answer Net Earnings

Multiple Choice Single AnswerQuestion When the cost of living increases, workmen and

trade unions demanded to :-Correct Answer Increase the wageYour Answer Increase the wage

Multiple Choice Single AnswerQuestion It was commonly believed by Hindus that

marriage was :-Correct Answer NecessaryYour Answer Necessary


Question If the employment is merely incidental to theexercise of a profession, the gains from such employmentwould be :-Correct Answer Professional earningsYour Answer Salary

Select The BlankQuestion Factors not related to money can also serve as

________.Correct Answer Attention seekersYour Answer Thought stimulators

Select The BlankQuestion Wage differentials have been classified into

________ categories.Correct Answer 3Your Answer 5


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Multiple Choice Multiple AnswerQuestion Source documents for preparations of wages

are :-Correct Answer Daily time sheet , Weekly time sheet. ,

Attendance register.Your Answer Daily time sheet , Weekly time sheet. ,Attendance register.

Select The BlankQuestion ________ is necessary to calculate Dearness

Allowance in Payroll process.Correct Answer Cost of Living IndexYour Answer Minimum Wages

Multiple Choice Single AnswerQuestion In profit-sharing plan, the proportion of profits to

be distributed among the employees is determined :-Correct Answer In advanceYour Answer At the end of fiscal year

True/False

Question If the car is used for office duty, only the value ofthe use of motor car is taken as 'NIL'.Correct Answer TrueYour Answer True

Multiple Choice Single AnswerQuestion Long-term wage Incentive plans are useful,

where :-

Correct Answer Jobs are inter-relatedYour Answer Jobs are inter-related

Multiple Choice Single AnswerQuestion Hospitality industries includes :-Correct Answer HotelsYour Answer Hotels

Select The Blank


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Question Today there is strong competition for acquiringas much ________ as possible.Correct Answer WealthYour Answer Wealth

True/FalseQuestion Performance standards & norms for incentive

payments should be set up high for better results.Correct Answer FalseYour Answer False

True/FalseQuestion Accumulated leave pay is treated as Indirect

expenses.Correct Answer TrueYour Answer True

True/FalseQuestion House rent allowance paid to a employee

residing in his own house is not exempt from tax.Correct Answer True

Your Answer True

Multiple Choice Multiple AnswerQuestion Cost accounting department analyze payroll for

the purpose of revealing :-Correct Answer Normal and abnormal idle time , Direct &

indirect labour , Variance from budgeted costsYour Answer Normal and abnormal idle time , Direct &

indirect labour , Variance from budgeted costs

Multiple Choice Multiple AnswerQuestion The approach of managerial / executive staff

towards the perquisites has changed since last :-Correct Answer 10 years , 9 years , 8 yearsYour Answer 8 years



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Correct Answer External motivationYour Answer Internal motivation

Select The Blank

Question A person would readily respond to opportunitiesrelated to jobs if he has strong need for ________.Correct Answer AffiliationYour Answer Power

True/FalseQuestion Halsey Premium plan is a combination of the

day wage & piece wage in modified form.Correct Answer TrueYour Answer True

Multiple Choice Single AnswerQuestion Production planning includes :-Correct Answer Product engineering.Your Answer Labour budgets


True/FalseQuestion The management must concentrate on creating proper industrial

relations climate before introducing incentive schemes.Correct Answer True

Multiple Choice Single AnswerQuestion Time booking on job helps for :-

Correct Answer Estimating labour cost.

Select The BlankQuestion ________ is the unique code allotted to each & every employee

in the organization.Correct Answer Employee No.

Multiple Choice Multiple AnswerQuestion Monetary incentive plans result in :-

Correct Answer Greater output per man-hour , Lower unit cost , Higher wages


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Multiple Choice Single AnswerQuestion First to lay down the guidelines for fixation of Minimum Wages

was :-Correct Answer Indian Labour Conference

Multiple Choice Single AnswerQuestion At germination stage, to attract and retain talent, dotcom

companies offer :Correct Answer Stock option

Select The BlankQuestion Payment is done on the basis of units of output, incase of

________ workers.Correct Answer Piece


Question In Payroll process, Cost of Living Index provides the basis forcalculating :-

Correct Answer D.A.

Multiple Choice Multiple AnswerQuestion Following are causes of idle time of labour pertaining to

production,Correct Answer Failure of electricity. , Seasonal nature of demand. , Breakdown

of machinery

True/False

Question Usually multinational companies ay higher than small scaleindustry.Correct Answer True

Multiple Choice Single AnswerQuestion When a dotcom company starts earning profits, promoters are

focused on the launch of:-Correct Answer IPO

Match The Following

Question Correct Answer

Cost accounting Dept. Accumulation &classification all cost data

Personnel Dept. Selection & training ofemployees.

Payroll Dept. Maintain record of wagerate of each employee.

Engineering Dept. Preparation of time &motion studies

Multiple Choice Multiple AnswerQuestion Salient features of profit-sharing are :-


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Correct Answer Agreement is voluntary , Payment may be in cash / stock offuture credits , Computation on the basis of some agreedformula

Multiple Choice Multiple AnswerQuestion Any imbalance in input-output relation in any incentive payment

scheme can result in :-Correct Answer Tension , Lower productivity , More absenteeism

Multiple Choice Single AnswerQuestion A worker produces 50 units a week of 06 days and piece rate is

Rs.2/- per piece. Then his earning will be :-Correct Answer Rs.100/-

Select The BlankQuestion ________ are also aid to executives a certain percentage of the

profits.

Correct Answer Bonuses

True/FalseQuestion Education expenses on employee's family members paid or

reimbursed by the employer are not taxable.Correct Answer False

Multiple Choice Single AnswerQuestion In post IPO stage, dotcom company gives its employees :-

Correct Answer Balanced total reward package

Select The BlankQuestion Payment to out workers is done on ________ basis.

Correct Answer Monthly

Multiple Choice Multiple AnswerQuestion Following are causes of idle time of labour pertaining to

administration :-Correct Answer Poor management , Management policy

Multiple Choice Single AnswerQuestion In recent times, in addition to stock options, employees of

dotcom companies are demanding :-Correct Answer Cash bonus

Match The Following

Question Correct Answer

Elements of good Wage

Plan

Two

Remuneration Employees


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Wage Differentials Three categories

Mathematical tables Calculations

Select The Blank

Question The scanlon plan of profit sharing gives utmost importance to________.

Correct Answer Employee participation

Multiple Choice Multiple AnswerQuestion Apart from salaries, IT employees are giving importance to :-

Correct Answer Company image , Job content , Job security

Multiple Choice Multiple AnswerQuestion Article 43 reads: State shall endeavour to secure by suitable

legislation to all :-Correct Answer Agricultural workers , Industrial , Working in a living wage

True/FalseQuestion The cost of time lost in setting a machine is treated as indirect

cost.Correct Answer False

Multiple Choice Multiple AnswerQuestion The contemporary practice for enhancing organizational growth

involves focuses on internal and external factors such as :-Correct Answer Customer needs , Market trends , Costs

Select The BlankQuestion Wage differentials have a great ________ and social

significance.Correct Answer Economic

Select The BlankQuestion ________ is a source document for preparation of wage sheet.

Correct Answer Attendance Register

Multiple Choice Single AnswerQuestion In addition to the result of job analysis and wage survey several

other variables have to be given due consideration inestablishing :-

Correct Answer Wage structure

Select The BlankQuestion Wage differentials have been classified into ________

categories.Correct Answer 3


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Multiple Choice Single AnswerQuestion Individuals from various level of the organisation have different :-

Correct Answer Life Style

Select The BlankQuestion ________ are assured of a stable amount of money.

Correct Answer Employees

Select The BlankQuestion ________ provides benefits at the time of retirement/ death /

following disability of worker.Correct Answer Deferred plan

Multiple Choice Single AnswerQuestion Demand for a particular skill is high and supply is low,

compensation given is:-Correct Answer High

Select The BlankQuestion Employee's State Insurance Act, ________ is a pioneering

measure in the field of social insurance of our country.Correct Answer 1948

Multiple Choice Multiple AnswerQuestion Bonus, as the incentive to managers is determined :-

Correct Answer By formula , By discretion used in allocation of bonus

Multiple Choice Single AnswerQuestion In developmental phase, the dotcom companies concentrate on

:-Correct Answer Building brand


Question Following are the forms of the cost of replacement :-

Correct Answer Cost of advertisement for recruitment , Cost of conductinginterviews , Cost of interruption in production

True/FalseQuestion Any other amenity or service excluded from the computation of

wages by a general or special order of appropriate Govt.Correct Answer False

Multiple Choice Single AnswerQuestion Minimum wages are not to be fixed in an industry which employs

less then how many employees in the entire state?


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Correct Answer 1000

Multiple Choice Single AnswerQuestion Remuneration paid for the service of the labour in production is

:-Correct Answer Wage

Multiple Choice Multiple AnswerQuestion Profit sharing plans can be on :-

Correct Answer Industry basis , Locality basis , Unit basis

Multiple Choice Multiple AnswerQuestion Provident Funds can be of the following types :-

Correct Answer Statutory Provident Fund , Recognised Provident Fund , Public

Provident Fund

Multiple Choice Single AnswerQuestion Following is not a function of personnel department :-

Correct Answer Time keeping.

Multiple Choice Single AnswerQuestion Dotcom companies were founded to go beyond :-

Correct Answer Physical business

True/FalseQuestion If an employee pays fees for attending some management

course, the fees can be allowed for deduction from salaryincome.



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Select The Blank Question Life and Medical insurance or reimbursement of m

as a part of ________.

Correct Answer PerksMultiple Choice Multiple Answer Question Following are causes of idle time of labour pertain Correct Answer Failure of electricity. , Seasonal nature of demandMultiple Choice Multiple Answer

Question Profit sharing plans can be on :- Correct Answer Industry basis , Locality basis , Unit basisMultiple Choice Single Answer

Question Employees in the railways are entitled of paymenare drawing wages and salaries below :-

Correct Answer Rs. 1600/- a monthTrue/False Question House rent allowance paid to a employee residing

exempt from tax.

Correct Answer TrueMultiple Choice Single Answer Question If the employment is merely incidental to the exer

gains from such employment would be :-

Correct Answer Professional earningsMultiple Choice Single Answer Question ,Correct Answer Class

Multiple Choice Single Answer Question Production planning includes :-

Compensation Management

List of Attempted Questions and Answers


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Correct Answer Product engineering.True/False Question Trade unions do affect rate of wages. Correct Answer TrueMultiple Choice Single Answer Question In addition to the result of job analysis and wage

variables have to be given due consideration in es

Correct Answer Wage structureMultiple Choice Single Answer Question When a dotcom company starts earning profits, p

the launch of:-

Correct Answer IPOMultiple Choice Multiple Answer Question Employees are paid incentives on 'Time' basis if :- Correct Answer Units of output are difficult to measure , Delays in

Quality is prime considerationMultiple Choice Single Answer

Question When the cost of living increases, workmen and tr Correct Answer Increase the wageMultiple Choice Single Answer Question In post IPO stage, dotcom company gives its emp Correct Answer Balanced total reward packageMultiple Choice Multiple Answer Question Documents used for wage analysis are :- Correct Answer Job cards , Wage sheetsMultiple Choice Single Answer

Question In co-partnership Incentive system, there is divisi Correct Answer Surplus profitMultiple Choice Multiple Answer Question Main features of society are :- Correct Answer Domination of machines , Exploitation of workers


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Multiple Choice Multiple Answer Question In dotcom companies, there is :- Correct Answer Huge no of employees , Direct interaction with cu

organizations , Reduction of capital cost

Multiple Choice Multiple Answer Question In profit-sharing plan, employees :- Correct Answer Work more diligently , Try to achieve higher prof

responsibilities

True/False

QuestionCorrect Answer True

Select The Blank Question To perform a ________ function by way of determ

workers.

Correct Answer SocialMultiple Choice Single Answer Question The most important deductions from wages / sala Correct Answer Statutory deductionsSelect The Blank Question Standards of efficiency should be fixed by taking

worker & Normal working conditions.

Correct Answer NormalMultiple Choice Single Answer Question In recent times, in addition to stock options, empl

are demanding :-

Correct Answer Cash bonusSelect The Blank Question Persons interested in enhancing their reputations

may respond to ________.

Correct Answer Verbal praiseMultiple Choice Single Answer


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Question Dotcom companies were founded to go beyond :- Correct Answer Physical businessSelect The Blank Question Wage differentials have been classified into _____ Correct Answer 3Multiple Choice Multiple Answer Question Apart from salaries, IT employees are giving impo Correct Answer Job content , Job security , Company imageMultiple Choice Single Answer

Question Reward may be money or promotion, but more lia smile, and :-

Correct Answer Acceptance by peerTrue/False Question Incentive schemes sometimes lead to jealousies an

among the workers.

Correct Answer TrueTrue/False Question Any other amenity or service excluded from the c

general or special order of appropriate Govt.

Correct Answer FalseTrue/False Question The cost of time lost in strikes is charged to Profit Correct Answer TrueSelect The Blank Question After deducting depreciation and initial or develo

we arrive at ________.

Correct Answer Surplus profitMultiple Choice Multiple Answer Question Documents useful for the purpose of wage analys Correct Answer Wage sheets , Payroll , Accounting registersSelect The Blank


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Question Gross Earnings - Deductions equals ________. Correct Answer Net EarningsTrue/False Question With about 2-5 years of experience, an employee c

level from executive level in IT industry. Correct Answer TrueMultiple Choice Multiple Answer Question In Payroll process, a Journal entry is treated as Co Correct Answer Book deductions effected during the month , Book

on account of payroll , Make remittances to respe


Question In developmental phase, the dotcom companies c Correct Answer Building brandMultiple Choice Single Answer Question Long-term wage Incentive plans are useful, where Correct Answer Jobs are inter-relatedMatch The Following Question Correct AnswerInstitutions of marriages & family Society

Past Marriages Permanent

Select The Blank Question ________Correct Answer Fixed

True/False Question Halsey Premium plan is a combination of the day

modified form.

Correct Answer TrueMultiple Choice Single Answer Question Some companies are paid on the higher side of th Correct Answer Ensure an adequate supply of labourMultiple Choice Multiple Answer


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Question Article 43 reads: State shall endeavour to secure b Correct Answer Agricultural workers , Industrial , Working in a liMultiple Choice Single Answer

Question At germination stage, to attract and retain talent, Correct Answer Stock optionMultiple Choice Single Answer Question Standard cost is a :- Correct Answer Predetermined costMatch The Following Question Correct AnswerUnder E.S.I. employee's contribution 0.0175

Employee Pension Scheme is 8.33% of Employer

Employer & Employee Contribution under E.P.F. 0.12

Under E.S.I., employer's contribution 0.0475

Multiple Choice Multiple Answer Question Extent of employees turnover depends upon :- Correct Answer , True/False

Question Performance standards & norms for incentive payhigh for better results.

Correct Answer FalseMultiple Choice Multiple Answer Question E.S.I. Act aims at providing for certain cash benef Correct Answer Sickness , Maternity , MedicalTrue/False

Question Employer's contribution to Superannuation Fund Correct Answer FalseMultiple Choice Multiple Answer Question Forces that favour regional differences are :- Correct Answer Low mobility , Lower skilled job , Sources of incoMultiple Choice Single Answer


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Question In graduated time rates system, if basic salary is Rallowance is 150% then total remuneration will be

Correct Answer Rs.5000/-Match The Following Question Correct AnswerTop managers Non-financial benefits

Workers Piece-rate

Salesmen Commission

Managers Bonus

Select The Blank Question The scanlon plan of profit sharing gives utmost im Correct Answer Employee participationTrue/False Question If workers do not understand relationship betwee

rewards, incentive plans cannot motivate workers

Correct Answer TrueMultiple Choice Single Answer Question Financial &/or quantitative statement prepared &

of time is called :-

Correct Answer BudgetMultiple Choice Multiple Answer Question Group incentive plans may not become successfu Correct Answer Unevenness of performance of different members

among group members , No recognition for indiv

True/False

Question Bonus is component of deductions. Correct Answer FalseSelect The Blank Question The ________ criterion is usually regarded as an a

pay criterion.

Correct Answer Cost of living pay


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Multiple Choice Single Answer Question Wages of security men in a production unit come Correct Answer Indirect labourMultiple Choice Multiple Answer Question Major features of production are :- Correct Answer Labour , Land , CapitalTrue/False

Question The Scanlon plan of profit sharing is more effectivis more than 1000.

Correct Answer FalseMultiple Choice Multiple Answer Question Incentive plans fail due to :- Correct Answer Lack of required tools / training , Unfair standardMultiple Choice Multiple Answer

Question

Objectives laid down by I.L.O. are :- Correct Answer Abolish malpractices , Abuse in wage payment , P


Question Profit sharing, as an incentive plan, realizes these Correct Answer Higher profits , Increased efficiency , Climate for bMultiple Choice Single Answer

Question Characteristic of a good compensation system is :- Correct Answer Higher the efficiency of worker, higher is compenMultiple Choice Single Answer Question The institutions of marriage and family are also to Correct Answer SocietyMultiple Choice Single Answer Question Hospitality industries includes :- Correct Answer HotelsMultiple Choice Multiple Answer Question To make Scanlon plan successful, there should be


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Correct Answer Stable product lines and costs , Strong commitmerelations

Select The Blank

Question For higher management, ________ are influenced specific industry and the process of decision maki

Correct Answer SalariesTrue/False Question Indirect labour cost forms a part of overheads. Correct Answer TrueTrue/False Question Salary is still the only or chief motivator for IT em Correct Answer FalseMultiple Choice Single Answer Question Perquisites taxable in all cases include :- Correct Answer Value of rent free accommodation provided by emMultiple Choice Multiple Answer Question A good incentive scheme should have :- Correct Answer Elasticity , Parity , Less operational costsSelect The Blank

Question ,Correct Answer Output is above standard

Select The Blank Question Leave pay of current year is treated as ________. Correct Answer Direct ExpensesSelect The Blank Question Cost of time spent on conducting interviews & sel

________ is called Replacement cost.

Correct Answer ReplacementMultiple Choice Single Answer


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QuestionOne worker is working under piece rate & time ra

compensation. He has worked in a week of 06 day

His hourly rate is Rs.2/- per piece. His output for

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 , OcMultiple Choice Single Answer

Question Monetary incentives imply :- Correct Answer External motivationMultiple Choice Single Answer Question Variance analysis is done in case of :- Correct Answer Standard costingSelect The Blank Question Inter-firm differentials reflect ________ wage leve Correct Answer RelativeMultiple 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 money paid to them and also the relationship of t

are paid.

Correct Answer Equity approachTrue/False Question Incentive payments should be made at the end of Correct Answer FalseTrue/False Question Most companies as against earlier visible cost don

The Company".


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Correct Answer FalseSelect The Blank Question During the research it was found that in certain ci

are ________where as organizational ability to pay

Correct Answer Very lowSelect The Blank Question In the history of Indian IT industry, the year 2001-

as ________.

Correct Answer Year of lay-offsTrue/False Question The management must concentrate on creating pr

climate before introducing incentive schemes.

Correct Answer TrueMultiple Choice Single Answer Question Time booking on job helps for :- Correct Answer Estimating labour cost.Select The Blank Question ________ is the unique code allotted to each & eve

organization.

Correct Answer Employee No.Multiple Choice Multiple Answer Question Monetary incentive plans result in :- Correct Answer Greater output per man-hour , Lower unit cost , HMultiple Choice Single Answer

Question First to lay down the guidelines for fixation of Mi Correct Answer Indian Labour ConferenceSelect The Blank Question Payment is done on the basis of units of output, in Correct Answer PieceMultiple Choice Single Answer Question In Payroll process, Cost of Living Index provides


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Correct Answer D.A.True/False Question Usually multinational companies ay higher than s Correct Answer TrueMatch The Following Question Correct AnswerCost 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

Computation on the basis of some agreed formula


Question Any imbalance in input-output relation in any inccan result in :-

Correct Answer Tension , Lower productivity , More absenteeismMultiple Choice Single Answer

Question A worker produces 50 units a week of 06 days andpiece. Then his earning will be :-

Correct Answer Rs.100/-Select The Blank Question ________ are also aid to executives a certain perce Correct Answer BonusesTrue/False Question Education expenses on employee's family membe

the employer are not taxable.

Correct Answer FalseSelect The Blank Question Payment to out workers is done on ________ basi


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Correct Answer MonthlyMultiple Choice Multiple Answer Question Following are causes of idle time of labour pertain Correct Answer Poor management , Management policyMatch The Following Question Correct AnswerElements of good Wage Plan Two

Remuneration Employees

Wage Differentials Three categories

Mathematical tables Calculations

Multiple Choice Multiple Answer Question Apart from salaries, IT employees are giving impo Correct Answer Company image , Job content , Job securityTrue/False

Question The cost of time lost in setting a machine is treated Correct Answer FalseMultiple Choice Multiple Answer Question The contemporary practice for enhancing organiz

focuses on internal and external factors such as :-

Correct Answer Customer needs , Market trends , CostsSelect The Blank

Question Wage differentials have a great ________ and soci Correct Answer EconomicSelect The Blank Question ________ is a source document for preparation of Correct Answer Attendance RegisterMultiple Choice Single Answer Question Individuals from various level of the organisation Correct Answer Life StyleSelect The Blank Question ________ are assured of a stable amount of money


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Correct Answer EmployeesSelect The Blank Question ________ provides benefits at the time of retireme

disability of worker.

Correct Answer Deferred planMultiple Choice Single Answer QuestionCorrect Answer High

Select The Blank Question Employee's State Insurance Act, ________ is a pion

field of social insurance of our country.

Correct Answer 1948Multiple Choice Multiple Answer Question Bonus, as the incentive to managers is determined Correct Answer By formula , By discretion used in allocation of boMultiple Choice Multiple Answer Question Following are the forms of the cost of replacemen Correct Answer Cost of advertisement for recruitment , Cost of co

of interruption in production


Question Minimum wages are not to be fixed in an industryhow many employees in the entire state?

Correct Answer 1000Multiple Choice Single Answer Question Remuneration paid for the service of the labour in Correct Answer WageMultiple Choice Multiple Answer Question Provident Funds can be of the following types :- Correct Answer , Multiple Choice Single Answer

Question Following is not a function of personnel departme


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Correct Answer Time keeping.True/False Question If an employee pays fees for attending some mana

can be allowed for deduction from salary income.

Correct Answer FalseSelect The Blank Question The wages of workers not present at the time of p

should be entered into ________.

Correct Answer Undisbursed wage registerMultiple Choice Multiple Answer Question Basic compensation systems are :- Correct Answer Time rate system , Piece rate systemSelect The Blank

Question Overtime payment given to the worker due to inedepartment is charged to ________.

Correct Answer Responsible DepartmentTrue/False Question If the rent paid by employee for his accommodati

the value of rent-free house, the value of the conce

Correct Answer TrueSelect The Blank Question Factors not related to money can also serve as ___ Correct Answer Attention seekersMultiple Choice Single Answer Question Aggregate costs change, if there is change in volu Correct Answer Marginal costTrue/False Question Bonus or other payments under a profit-sharing s

contract of employment.

Correct Answer FalseTrue/False


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Question In businesses, where workers are illiterate and pabasis, the scope for fraud or cheating is less.

Correct Answer FalseMultiple Choice Multiple Answer Question Job analysis describes :- Correct Answer Duties , Responsibilities , Working conditionsMultiple Choice Multiple Answer

Question Contribution to the P.F. have to be remitted alongAccount No.:-

Correct Answer 2 , 21 , 10Multiple Choice Single Answer

Question Profession Tax is deducted as per the enactment b Correct Answer State Govt.Multiple Choice Multiple Answer Question Through payroll system, Recovery statements like Correct Answer Recovery of ESI , Deductions of Profession Tax , LTrue/False

Question IT jobs still remain the best paying jobs in the cou Correct Answer TrueSelect The Blank Question Cost of employee welfare activities comes under _ Correct Answer PreventiveMultiple Choice Single Answer Question Advantage of disc method of attendance recordin Correct Answer Suitable for illiterate worker.Multiple Choice Multiple Answer Question Source documents for preparations of wages are : Correct Answer Daily time sheet , Weekly time sheet. , AttendanceMultiple Choice Single Answer

Question Consideration for wage and salary administration Correct Answer Job requirement


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Match The Following Question Correct AnswerNormal Worker Skill comparison in time study

Piece Worker Payment per unit of output

Casual Worker Payment for total workOut workers Payment on monthly basis

True/False Question Group incentive system is more widely prevalent

the system of individual incentive.

Correct Answer TrueMultiple Choice Multiple Answer Question In dotcom companies, there is :- Correct Answer Direct interaction with customers and client organ

capital cost , Huge no of employees

Select The Blank

Question Executives are compensated for the various _____ Correct Answer ExpensesTrue/False Question In industrialization there is not always mass prod Correct Answer FalseMultiple Choice Single Answer Question In high profit making organisation compensation Correct Answer HigherMultiple Choice Single Answer Question Group incentive plans are best suited for :- Correct Answer Small work groupsMultiple Choice Single Answer Question In traditional Indian society, marriages were cons Correct Answer PermanentMatch The Following Question Correct Answer


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I. L. O. To bring appropriate payment systems

Child Exploitation Article 39

Wage Policy Increase economic welfare

Article 43 Emphasizes need for legislation

Multiple Choice Single Answer Question Prevailing market rate is also known as :- Correct Answer Comparable wageSelect The Blank Question Ratio of number of persons over 4 years of service

employees is called ________

Correct Answer Skill dilution indexSelect The Blank Question There are many methods that an alive ________ m

develop for employees rendered redundant throu

Correct Answer HRDMultiple Choice Single Answer Question Disadvantage of maintaining hand written registe Correct Answer Depends upon honesty.Match The Following Question Correct AnswerHigh wage level system Incentive to worker to improve performance

Graduated time rate system Economical factor is consider

Straight piece rate system Productivity improvement

Piece rate system & time rate combination Protect learners & slow workers

True/FalseQuestion

An employee gets deduction to the extent, professincome chargeable under 'salaries'. Correct Answer True

True/False Question Contribution to the Provident Funds are made at

percentage of salary of employee, only by the Em


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Correct Answer FalseMultiple Choice Multiple Answer Question The cutting edge of an organization is its people. T

being redefined to bring out the best in :-

Correct Answer Employees , Managers , ExecutivesMultiple Choice Single Answer

Question Effectiveness of incentive system is ascertained w Correct Answer Efficiency report.Select The Blank Question ________ is that portion of Dearness Allowance w

to be paid for all purposes.

Correct Answer Dearness PayTrue/False Question Gradewise flat allowances are also being consider

tax exemption benefit are still available.

Correct Answer TrueMultiple Choice Multiple Answer Question Return and wage differentials are contained by a Correct Answer Productivity , Market conditions , Bargaining powMultiple Choice Multiple Answer

Question Employees cost to the company includes :- Correct Answer Basic wages , IncentivesMultiple Choice Single Answer

Question A job is rated to determine :- Correct Answer Its value relative to other jobs in organizationMultiple Choice Multiple Answer Question Components of deductions in salary are :- Correct Answer E.S.I. , Housing loan installment.True/False

QuestionCorrect Answer True


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Multiple Choice Single Answer Question Employees Compensation System is vital for :- Correct Answer MotivationMultiple Choice Multiple Answer Question In following circumstances of overtimes, the cost Correct Answer General pressure of work. , Inefficiency.Multiple Choice Single Answer

Question Following is a method of attendance time recordi Correct Answer Time recording clock.Multiple Choice Multiple Answer Question Employees are paid incentives on 'Output' basis if Correct Answer Units of output can be measured , Direct relations

efforts and quantity of output , Jobs are standardi

Match The Following

Question Correct AnswerIPO stage of dotcoms Compensation at market levelPost IPO stage of dotcoms More balanced total reward package

Ideation stage of dotcoms Low cash compensation

Developmental stage of dotcoms First real revenue flows

Select The Blank Question ________Correct Answer Journal entry

True/False Question Employee turnover rate focuses on stability of em Correct Answer FalseSelect The Blank Question Packing articles in plastic bags is an example of __ Correct Answer Piece rate systemMultiple Choice Single Answer Question By using straight piece rate system of compensati Correct Answer Increases


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Multiple Choice Multiple Answer Question Following are avoidable causes of employees turn Correct Answer Unsatisfactory pay package , Absence of job satisfTrue/False

Question If the same or about the same general rates of wagemployees as were paid by the organisation's comable to attract and maintain a sufficient quantity a

Correct Answer FalseMultiple Choice Multiple Answer Question For the valuation of rent free accommodation, 'Sal Correct Answer D A , Bonus , Education AllowanceMultiple Choice Multiple Answer

Question Cost of labour turnover includes :- Correct Answer Replacement cost , Preventive costMultiple Choice Single Answer

Question Wage & salary administration refers to the establiimplementation of sound policies and practices of

Correct Answer CompensationSelect The Blank Question Organization's ability to pay, determines _______ Correct Answer Wage levelTrue/False Question Wage Policy is not of great concern to labour, man Correct Answer FalseMultiple Choice Single Answer Question Towns are getting converted into cities and cities Correct Answer MetroMultiple Choice Multiple Answer Question Profit sharing, as an incentive plan, realizes these Correct Answer Higher profits , Increased efficiency , Climate for bMultiple Choice Multiple Answer


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Question In effective incentive plan, standards on which pl Correct Answer Fair , Reasonable , SpecificMultiple Choice Single Answer Question Gate time keeping helps for :- Correct Answer Payroll preparations.True/False Question Incentive schemes should be installed right from b Correct Answer FalseMultiple Choice Multiple Answer Question Incentive plans fail due to :- Correct Answer Unfair standards , Fear of rate cut , Lack of requirMultiple 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 value Correct Answer ChangedTrue/False Question Compensation policy does not need criteria for pr Correct Answer FalseMultiple Choice Multiple Answer Question Differential piece rate system is suitable where :- Correct Answer Fixed costs are higher in proportion to veriable co

production accurately , There are standardised m

Multiple Choice Single Answer Question Control of labour cost is essential in every organis 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

workforce


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True/False Question , vehicle by employer, he is not eligible to get 'StanCorrect Answer False

Multiple Choice Single Answer Question Carpenters engaged in cutting of wood in a furnit

example of :-

Correct Answer Direct labourMultiple Choice Multiple Answer Question Employees cost to the company includes :- Correct Answer Basic wages , IncentivesSelect The Blank Question Process of readjustment inevitable calls for chang

and its practice.

Correct Answer Human ResourceMatch The Following Question Correct AnswerIdle time due to tea breaks Direct costs

Basic Salary Gross Earning

Professional Tax Deductions

Overtime due to general pressure of work Indirect costs.

Multiple Choice Multiple Answer Question Documents useful for the purpose of wage analys Correct Answer Wage sheets , Payroll , Accounting registersMultiple Choice Multiple Answer Question Level II in junior managers comprises of :- Correct Answer Engineers , Officers , Senior EngineersMultiple Choice Single Answer Question It was commonly believed by Hindus that marria Correct Answer NecessaryMultiple Choice Multiple Answer


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Question Source documents for preparations of wages are : Correct Answer Daily time sheet , Weekly time sheet. , AttendanceSelect The Blank Question ________ is necessary to calculate Dearness Allow Correct Answer Cost of Living IndexMultiple Choice Single Answer Question In profit-sharing plan, the proportion of profits to

employees is determined :-

Correct Answer In advanceTrue/False Question If the car is used for office duty, only the value of

taken as 'NIL'.

Correct Answer TrueSelect The Blank QuestionCorrect Answer WealthTrue/False

Question Accumulated leave pay is treated as Indirect expe Correct Answer TrueMultiple Choice Multiple Answer Question Cost accounting department analyze payroll for th Correct Answer Normal and abnormal idle time , Direct & indirec

budgeted costs

Multiple Choice Multiple Answer Question The approach of managerial / executive staff tow

changed since last :-

Correct Answer 10 years , 9 years , 8 yearsSelect The Blank Question A person would readily respond to opportunities

strong need for ________.

Correct Answer Affiliation


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Multiple Choice Single Answer Question In metropolitan towns boys and girls are generall Correct Answer 25 to 35Multiple Choice Multiple Answer Question Various enactments that are applicable to employ Correct Answer Payment of Gratuity Act , Payment of Bonus Act ,

Fund & Misc. Provisions Act


Question Pay grade consists of jobs falling within a range ofor job evaluation is :-

Correct Answer Point methodTrue/False Question In engineering and chemical industries, mostly w

incentives.

Correct Answer TrueTrue/False Question In piece rate & time rate combination system, the

secured and do not try hard to increase productio

Correct Answer TrueSelect The Blank Question ________ refers to the distribution of profits on th

percentage on one's monthly wages.

Correct Answer Profit sharing bonusTrue/False Question Economic system does result in the concentration Correct Answer FalseMultiple Choice Single Answer Question Time spent by different workers on same job is re Correct Answer Job card.Multiple Choice Multiple Answer Question Advantages of having several pay ranges for each


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Correct AnswerThe management could take a more flexible stanc

market , It made it easy to attract experienced em

organisations , It helped to ensure that there was a

rates and those prevailing in the labour market

Select The Blank

Question ________ is financial / quantitative statement prea period of time.

Correct Answer BudgetMatch The Following Question Correct AnswerPost IPO stage of dotcoms More balanced total reward package

Ideation stage of dotcoms Low cash compensation

Developmental stage of dotcoms First real revenue flows

IPO stage of dotcoms Compensation at market level

Multiple Choice Multiple Answer Question Level II in senior managers include or comprises o Correct Answer General Manager , Senior General Manager , DepMultiple Choice Single Answer

Question Following is method of time booking :- Correct Answer Daily time sheet.Multiple Choice Multiple Answer Question Broad groups may be illustrated within manufact Correct Answer Managerial , Clerical , FactoryMultiple Choice Single Answer

Question Person working in MNC's occupying higher posittime for their :-

Correct Answer Employment & jobTrue/False Question Equal remuneration Act, 1976 discriminates on th

women in the matter of employment.



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True/False Question Time booking helps to ascertain direct and indirec Correct Answer TrueSelect The Blank Question Equal remuneration Act, ________ provides for pa

remuneration to men and women for the same wo

Correct Answer 1976Select The Blank Question Overtime payment given to the worker for compl

scheduled date art the instruction of buyer is treat Correct Answer DirectMatch The Following Question Correct AnswerLevel II - Middle Managers Assistant Managers

Level I - Senior Managers Executive vice President

Level II - Middle Managers Senior Managers

Level I - Junior Managers Deputy Managers

Multiple Choice Multiple Answer Question The term salary does not include :- Correct Answer ,


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Question

Wage differentials are of following factors :-

Correct Answer

Difference in labour efficiency , Social esteem , Occupation

Your Answer

Occupation , Difference in labour efficiency , Social esteem

Select The Blank

Question

Life and Medical insurance or reimbursement of medical bills is considered as a part of

________.

Correct Answer

Perks

Your Answer

Social security

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

Your Answer

Average


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

Your AnswerRs. 1600/- a month


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Question

Due to the paucity of relevant data on wage differentials, it is possible to analyze in India :-

Correct AnswerWage structure , Pay structure , Salarystructure

Your Answer

Wage structure , Pay structure , Salary structure


Question

Any imbalance in input-output relation in any incentive payment scheme can result in :-

Correct Answer

Tension , Lower productivity , More absenteeism

Your AnswerTension , Lower productivity , More absenteeism


Question

In India, Group incentive plans face problems like :-

Correct Answer

High norms of standard work, Illiterate workforce , Numerous slabs in rate structure

Your Answer

High norms of standard work , Illiterate workforce , Numerous slabs in rate structure


Question

Differential piece rate system is based on :-

Correct Answer

Dual rates for different efficiency levels

Your Answer

Dual rates for different efficiency levels

Select The BlankQuestion

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

Correct Answer

Year of lay-offs

Your Answer

Year of lay-offs


Question

The social structure of individual's life style is evident in the :-


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Correct Answer

Urban society

Your Answer

Urban society


Question

Rate range can be developed in many ways, one usually adopted is :-

Correct Answer

Wage curve

Your Answer

Performance curve


QuestionDocuments useful for the purpose of wage analysis are :-

Correct Answer

Wage sheets , Payroll , Accounting registers

Your Answer

Wage sheets , Payroll , Accounting registers

Select The Blank

Question

There are many methods that an alive ________ management can creatively develop foremployees rendered redundant through little forethought.

Correct Answer

HRD

Your Answer

HRD

Select The Blank

Question

In Taylor differential piece rate system, high piece rate is applicable if ________.

Correct AnswerOutput is above standard

Your Answer

Output is above standard


Question

For a normal adult the net intake of calories should be :-

Correct Answer

2700

Your Answer


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2600


Question

In Compensation plans the following are taken into account :-Correct Answer

Cost of production , Reduction in expenses , Profits made

Your Answer

Reduction in expenses , Profits made , Cost of production

True/False

Question

ITjobs still remain the best payingjobsin the country.

Correct Answer

TrueYour Answer

True


Question

Basic compensation systems are :-

Correct Answer

Time rate system , Piece rate system

Your AnswerTime rate system , Piece rate system , Bonus


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

Your 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

Your Answer

Unskilled


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Question

Minimum wages are not to be fixed in an industry which employs less then how many

employees in the entire state?

Correct Answer1000

Your Answer

900

True/False

Question

Within the factory group promotion is important.

Correct Answer

False

Your AnswerTrue


Question

In Payroll process, a Journal entry is treated as Control entry to :-

Correct Answer

Bookdeductions effected during the month , Book expenses for the month on account of

payroll , Make remittances to respective authorities

Your AnswerGive effect of unknown transactions in books of accounts , Book deductions effected during

the month , Book expenses for the month on account of payroll


Question

Co-partnership system tries to :-

Correct Answer

Eliminate friction between capital and labour

Your Answer

Gives fixed share to workers

True/False

Question

Indirect labour cost forms a part of overheads.

Correct Answer

True

Your Answer

True

Match The Following


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Question

Correct Answer

Your Answer

Top managers

Non-financial benefitsNon-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

Your Answer

Dearness Pay


Question

A good incentive scheme should have :-

Correct Answer

Elasticity , Parity , Less operational costs

Your Answer

Elasticity , Parity , Less operational costs

Select The BlankQuestion

________ is the unique code allotted to each & every employee in the organization.

Correct Answer

Employee No.

Your Answer

Employee No.


Question

Apart from salaries, IT employees are giving importance to :-


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Correct Answer

Job content , Job security , Company image

Your Answer

Job security , Company image , Foreign trips


Question

Major components of compensation :-

Correct Answer

Salary , Basic salary , Consolidated salary

Your Answer

Salary , Basic salary , Consolidated salary

Match The Following

QuestionCorrect 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% ofEmployer

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

Your Answer

Undisbursed wage register


Question

Components of wage & salary are :-

Correct Answer

Basic wage , Overtime wage , Dearness allowance


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Your Answer

Basic wage , Overtime wage , Dearness allowance


QuestionBasic purpose of Wage and Salary administration is to establish and maintain an equitable :-

Correct Answer

Wage and Salary structure

Your 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

Your 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

Your Answer

True


Question

Salient features of profit-sharing are :-

Correct Answer

Agreement is voluntary , Payment may be in cash / stock of future credits , Computation onthe basis of some agreed formula

Your Answer

Agreement is voluntary , Payment may be in cash / stock of future credits , Remuneration on

the basis of efficiency


Question

In dotcom companies, there is :-

Correct Answer

Direct interaction with customers and client organizations , Reduction of capital cost , Huge


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no of employees

Your 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

QuestionWage and salary administration should be controlled by some proper agency.

Correct Answer

True

Your Answer

False


Question

The human relations are determined by :-Correct Answer

Human attitudes

Your Answer

Human attitudes


Question

If the ranking plan is used the grade consists of a specific number of :-

Correct Answer

RanksYour Answer

Points

Select The Blank

Question

________ is a source document for preparation of wage sheet.

Correct Answer

Attendance Register

Your Answer

Attendance Register


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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

FalseYour Answer

True


Question

Time spent by same worker on various jobs is recorded on daily basis in :-

Correct Answer

Daily time sheet.

Your AnswerJob card.

at 11:11 PM0 commentsLinks to this post

Labels: Compensation Management

Compensation Management - 2



Question

In Payroll process, Cost of Living Index provides the basis for calculating :-

Correct Answer

D.A.

Your Answer

HRA



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Question

In developmental phase, the dotcom companies concentrate on :-

Correct Answer

Building brand

Your AnswerBuilding brand


Question

Indirect compensation mainly acts as :-

Correct Answer

Maintenance factor

Your Answer

Motivating factor

Select The Blank

Question

compensation should be ________ efficiency & result .

Correct Answer

Directly proportional

Your Answer

Directly proportional

Match The FollowingQuestion

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 systemSharing 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


Question

The expenditure on medical treatment and stay abroad will be exempt only to the extent

permitted by :-


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Correct Answer

Reserve Bank of India

Your Answer

State Government


Question

Extent of employees turnover depends upon :-

Correct Answer

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

Your Answer

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


QuestionAt germination stage, to attract and retain talent, dotcom companies offer :

Correct Answer

Stock option

Your Answer

Stock option

True/False

Question

Wage & salary are also subject to a variety of legislation & in this context, compliance withexisting legislative measure is very important.

Correct Answer

True

Your Answer

True


Question

Rate of crime is very high in :-

Correct AnswerIndustrial towns , Industrial cities , Industrial districts

Your Answer

Industrial towns , Industrial cities , Industrial districts


Question

The persons working in multinational companies occupying the higher positions in hierarchy

enjoy :-

Correct Answer

Lavish life-style


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Your Answer

Expensive life-style


QuestionWhen a dotcom company starts earning profits, promoters are focused on the launch of:-

Correct Answer

IPO

Your Answer

New business deals


Question

For the valuation of rent free accommodation, 'Salary' includes :

Correct AnswerD A , Bonus , Education Allowance

Your Answer

Gratuity , D A , Bonus

True/False

Question

Provident fund is component of gross earnings.

Correct Answer

FalseYour Answer

True

Select The Blank

Question

________ are assured of a stable amount of money.

Correct Answer

Employees

Your Answer

Employers

Select The Blank

Question

Generally, the strong & more powerful is the trade union, the ________ are the wages.

Correct Answer

Higher

Your Answer

Higher



68/159

Question

Travel & Tourism agencies is an example of :-

Correct Answer

Hospitality industries

Your AnswerHospital

Compensation Management Final

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Transcript of Compensation Management Final