Compensation Management

Multiple Choice Multiple Answer
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

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
Your 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
Your 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
Your 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
Your 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
Your 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
Your 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
Your Answer
Urban society

Multiple Choice Single Answer
Question
Rate range can be developed in many ways, one usually adopted is :-
Correct Answer
Wage curve
Your Answer
Performance curve

Multiple Choice Multiple Answer
Question
Documents 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 for employees 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 Answer
Output is above standard
Your Answer
Output is above standard

Multiple Choice Single Answer
Question
For a normal adult the net intake of calories should be :-
Correct Answer
2700
Your Answer
2600

Multiple Choice Multiple Answer
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
IT jobs still remain the best paying jobs in the country.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Basic compensation systems are :-
Correct Answer
Time rate system , Piece rate system
Your Answer
Time rate system , Piece rate system , Bonus

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
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

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
Your Answer
900

True/False
Question
Within the factory group promotion is important.
Correct Answer
False
Your Answer
True

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
Your Answer
Give effect of unknown transactions in books of accounts , Book deductions effected during the month , Book expenses for the month on account of payroll

Multiple Choice Single Answer
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
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
Your Answer
Dearness Pay

Multiple Choice Multiple Answer
Question
A good incentive scheme should have :-
Correct Answer
Elasticity , Parity , Less operational costs
Your 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.
Your 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
Your Answer
Job security , Company image , Foreign trips

Multiple Choice Multiple Answer
Question
Major components of compensation :-
Correct Answer
Salary , Basic salary , Consolidated salary
Your 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
Your Answer
Undisbursed wage register

Multiple Choice Multiple Answer
Question
Components of wage & salary are :-
Correct Answer
Basic wage , Overtime wage , Dearness allowance
Your 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
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

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
Your Answer
Agreement is voluntary , Payment may be in cash / stock of future credits , Remuneration on the basis of efficiency

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
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
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.

Multiple Choice Single Answer
Question
In Payroll process, Cost of Living Index provides the basis for calculating :-
Correct Answer
D.A.
Your Answer
HRA

Multiple Choice Single Answer
Question
In developmental phase, the dotcom companies concentrate on :-
Correct Answer
Building brand
Your Answer
Building brand

Multiple Choice Single Answer
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 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
Your Answer
State Government

Multiple Choice Multiple Answer
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

Multiple Choice Single Answer
Question
At 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 with existing legislative measure is very important.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Rate of crime is very high in :-
Correct Answer
Industrial towns , Industrial cities , Industrial districts
Your 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
Your Answer
Expensive life-style

Multiple Choice Single Answer
Question
When a dotcom company starts earning profits, promoters are focused on the launch of:-
Correct Answer
IPO
Your Answer
New business deals

Multiple Choice Multiple Answer
Question
For the valuation of rent free accommodation, 'Salary' includes :
Correct Answer
D A , Bonus , Education Allowance
Your Answer
Gratuity , D A , Bonus

True/False
Question
Provident fund is component of gross earnings.
Correct Answer
False
Your 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

Multiple Choice Single Answer
Question
Travel & Tourism agencies is an example of :-
Correct Answer
Hospitality industries
Your Answer
Hospitality industries

Multiple Choice Single Answer
Question
In post IPO stage, dotcom company gives its employees :-
Correct Answer
Balanced total reward package
Your Answer
Stock options

Multiple Choice Single Answer
Question
In recent times, in addition to stock options, employees of dotcom companies are demanding :-
Correct Answer
Cash bonus
Your Answer
Cash bonus

Multiple Choice Single Answer
Question
Dotcom companies were founded to go beyond :-
Correct Answer
Physical business
Your 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
Your 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
Your Answer
Failure of electricity. , Poor management , Management policy

True/False
Question
Incentive payments should be made at the end of fiscal year.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
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.

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
Your 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
Your 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
Your 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
Your 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
Your Answer
25 to 35

Multiple Choice Single Answer
Question
In high profit making organisation compensation paid is relatively:-
Correct Answer
Higher
Your Answer
Higher

Select The Blank
Question
Gross Earnings - Deductions equals ________.
Correct Answer
Net Earnings
Your 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
Your 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
Your 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
Your 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
Your 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
Your 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
Your Answer
Managerial , Clerical , Factory

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

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

Select The Blank
Question
Casual workers comes under ________ class of workers.
Correct Answer
Unskilled
Your 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
Your Answer
1948

Select The Blank
Question
________ are also aid to executives a certain percentage of the profits.
Correct Answer
Bonuses
Your Answer
Bonuses

True/False
Question
Trade unions do affect rate of wages.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
In the 60's salaries of Bargainable workers increased due to :-
Correct Answer
Success of Union
Your Answer
Success of Union

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
P F contribution

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
Your 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
Your Answer
To recognize the value of each job , Provide stability in earning , Allow individual to reach partial earning potential

Multiple Choice Single Answer
Question
The total of direct material, direct labour, direct expenses is called :-
Correct Answer
Prime cost
Your Answer
Prime cost

True/False
Question
E.S.I. Act does make a distinction between technical and non-technical employees.
Correct Answer
False
Your Answer
True

Select The Blank
Question
Wages have at least ________ connotations from stand points of employers and employees.
Correct Answer
2
Your Answer
4

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/-
Your Answer
Rs.5000/-

Multiple Choice Single Answer
Question
Following is method of time booking :-
Correct Answer
Daily time sheet.
Your Answer
Time recording clock.

Multiple Choice Single Answer
Question
Work study department is engaged in activities like determining :-
Correct Answer
Standard procedure
Your Answer
Standard procedure

Select The Blank
Question
Cost of employee welfare activities comes under ________ cost.
Correct Answer
Preventive
Your Answer
Direct labour

Multiple Choice Single Answer
Question
Advantage of maintaining hand written register for attendance is :-
Correct Answer
Easy to operate.
Your 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
Your Answer
True

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

True/False
Question
Taylor differential piece rate system is difficult to understand and implement.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Apart from salaries, IT employees are giving importance to :-
Correct Answer
Job content , Job security , Company image
Your 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
Your Answer
Failure of electricity. , Seasonal nature of demand. , 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
Your Answer
True

True/False
Question
Indirect labour cost are distributed on a basis of suitable proportion.
Correct Answer
True
Your 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
Your Answer
Cost of production , Reduction in expenses , Profits made , Losses incurred

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
Your Answer
Time rate

Select The Blank
Question
________ generated out of payroll system shows amounts of debits and credits.
Correct Answer
Journal entry
Your 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
Your Answer
True

Multiple Choice Multiple Answer
Question
Jobs are graded according to the relative skill :-
Correct Answer
Effort , Responsibility , Calculations
Your 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
Your Answer
Annual increments

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
Your Answer
Profits are payable at long intervals , Payments to employees are uncertain , Payment is based on merit

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
Your Answer
Cost of advertisement for recruitment , Cost of conducting interviews , Cost of retirement benefits

Multiple Choice Single Answer
Question
Towns are getting converted into cities and cities into :-
Correct Answer
Metro
Your 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
Your Answer
Standard costing

Multiple Choice Single Answer
Question
For designing profit sharing plan, the company has to first :-
Correct Answer
Determine organisation's profit for year
Your Answer
Determine organisation's profit for year

Multiple Choice Single Answer
Question
Cost of labour minute operation is available from :-
Correct Answer
Job cards.
Your Answer
Time study sheet.

Select The Blank
Question
Life and Medical insurance or reimbursement of medical bills is considered as a part of ________.
Correct Answer
Perks
Your 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
Your Answer
Proper time recording , Proper record of output by workers , Proper knowledge of workers language

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
Your Answer
True

Select The Blank
Question
There are ________ basic traditional system of job evaluation.
Correct Answer
4
Your Answer
4

Select The Blank
Question
The scanlon plan of profit sharing gives utmost importance to ________.
Correct Answer
Employee participation
Your 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
Your Answer
Unevenness of performance of different members of groups , Ill-feeling among group members , Unstable group production levels

Select The Blank
Question
________ is a source document for preparation of wage sheet.
Correct Answer
Attendance Register
Your Answer
Attendance Register

True/False
Question
Incentive schemes should be installed right from beginning of production.
Correct Answer
False
Your Answer
True

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

Multiple Choice Single Answer
Question
In post IPO stage, dotcom company gives its employees :-
Correct Answer
Balanced total reward package
Your 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
Your 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
Your Answer
Duties , Responsibilities , Working conditions

True/False
Question
Surprise check on calculation & disbursement of payments is necessary to avoid any fraud.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Time rate systems are :-
Correct Answer
Ordinary level , High wage level , Graduated time rates
Your Answer
Ordinary level , High wage level , Graduated time rates

Question : SEBI has taken an action to ban on Badla.
Answer : True
Question : As per the reports and the letter of intent filed with SEBI, what amount is expected to be paid from the primary market during this year?
Answer:15000 crores
Question :SEBI cannot investigate the affairs of mutual funds and their trustees and asset management companies.
Answer:False
Question :A mutual fund scheme shall not invest more than ________ of its NAV in unrated debt by a single issuer.
Answer:0.1
Question :Securities offered in a pledge can change if a ________ agrees.
Answer:Pledgee
Question :A bidder can request for a transaction registration slip as the proof of his having entered the bid.
Answer:True
Question :SENSEX is calculated using ________ method.
Answer:Market capitalization
Question :AA rated companies can raise ________ of its net worth.
Answer:2.5 times
Question :In the book building process pricing is determined on the basis of ________.
Answer:Investor feedback
Question :What is Sweat equity ?
Answer:Equity shares issued by the company to the employees , Issued to directors at a discount , For consideration other than cash for providing now
Question :An AMC fees :-
Answer:To be borne by the individual schemes
Question :What are the objectives of NHB?
Answer:To promote, establish, aid in promotion and support of housing finance institutions , To make loans advances or render any other form of financial assistance to focusing finance institutions , To guarantee financial obligations

Question :What are participatory notes?
Answer:Instruments used by foreign funds , Instruments used but investors not register with SEBI , Investors interested in taking exposure in Indian securities
Question : When can an offer be withdrawn?
Answer: Statutory approvals refused , Sole acquirer being person died , Circumstances as in opinion of board
Question :MIBOR is a security. Derivatives based on this interest rate have legal recognition under SCRA.
Answer:False
Question :For issues upto Rs. 50 crores the number of lead managers will not exceed ________.
Answer:2

Question -----Correct Answer
Share buy back is a way of--Returning surplus cash to the shareholders
Dutch Auction ---Price of the Buy back is done by the shareholders
Open market purchases--No minimum price stipulation
Companies holding more than 90% equity --Can be delisted


Question :Under section 11 B of SEBI act how many issuers were debarred?
Answer:1
Question :The continuing growth in ________ was one of the factors that contributed to the growth of credit rating.
Answer:Information technology
Question :What was the turning point in the working of Indian capital markets?
Answer:Establishment of NSE
Question :What do you understand by capital markets ?
Answer:Market for long term funds and investments in long term instruments
Question :In February 2004, UTI sought permission of SEBI to prematurely close ________ schemes.
Answer:7
Question :What are the limitations of refinance facility?
Answer:Cannot exceed 5 times NOF , Not to exceed 50% of total Loan funds of HFC's , Not to exceed 15 % of NOF of NHB
Question :What is the amount invested by the FII's in the Indian Capital market?
Answer:US$14 bn
Question :The buy back of shares by Indian corporates has been very successful in India.
Answer:False
Question :The NSE Nifty index comprises of ________companies.
Answer:50
Question :Who is required to make a public announcement ?
Answer:Acquirer
Question :What are the norms for Approval of Housing finance companies by NHB?
Answer:Minimum paid up capital 1 crore , At least 2 directors , Any appointment of auditors
Question :What are the major factors influencing portfolio decisions?
Answer:Investor characteristics , Liquidity needs and tax considerations , Investment and interest rate risk
Question :What was the reason for not introducing rolling settlements earlier in India?
Answer:Lack of depositories

True/False
Question
An employee gets deduction to the extent, professional tax paid by him from income chargeable under 'salaries'.
Correct Answer
True
Your 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
Your Answer
Cost of conducting interviews , Cost of interruption in production , Cost of advertisement for recruitment

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
Your Answer
Normal and abnormal idle time , Direct & indirect labour , Time standards

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
Your 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
Your 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
Your 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
Your 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
Your Answer
Job evaluation

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.
Preparation of drawings
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
Time keeping

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
Your 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.
Your Answer
Poor management. , Break down of machinery. , Trade cycles.

True/False
Question
Incentive schemes sometimes lead to jealousies and misunderstanding among the workers.
Correct Answer
True
Your 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
Your 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
Your Answer
True

Select The Blank
Question
Payment to out workers is done on ________ basis.
Correct Answer
Monthly
Your Answer
Daily

Multiple Choice Single Answer
Question
For a normal adult the net intake of calories should be :-
Correct Answer
2700
Your 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
Your Answer
Profits are payable at long intervals , Payments to employees are uncertain , Payment is regarded sometimes as windfall gain

Multiple Choice Single Answer
Question
By using straight piece rate system of compensation output :-
Correct Answer
Increases
Your Answer
Increases

Multiple Choice Multiple Answer
Question
Apart from salaries, IT employees are giving importance to :-
Correct Answer
Job content , Job security , Company image
Your 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
Your Answer
Social

Multiple Choice Single Answer
Question
Gate time keeping helps for :-
Correct Answer
Payroll preparations.
Your Answer
Ascertaining labour cost of each job.

Select The Blank
Question
Overtime payment given to the worker due to inefficiency of other department is charged to ________.
Correct Answer
Responsible Department
Your Answer
Job

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
Your Answer
Personnel

True/False
Question
Equal remuneration Act, 1976 discriminates on the ground of sex against women in the matter of employment.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Level II in junior managers comprises of :-
Correct Answer
Engineers , Officers , Senior Engineers
Your Answer
Engineers , Officers , Senior Engineers

Multiple Choice Single Answer
Question
Better production planning & control is facilitated through :-
Correct Answer
Job cards.
Your Answer
Daily time sheet.

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
Your Answer
Skill wastage index

Select The Blank
Question
Generally, the strong & more powerful is the trade union, the ________ are the wages.
Correct Answer
Higher
Your Answer
Higher

Multiple Choice Single Answer
Question
In post IPO stage, dotcom company gives its employees :-
Correct Answer
Balanced total reward package
Your Answer
Stock options

True/False
Question
Provident fund is component of gross earnings.
Correct Answer
False
Your Answer
True

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.
Your Answer
Employee No.

True/False
Question
Monitory payment often act as motivators and satisfiers interdependently of other job factors.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
In high profit making organisation compensation paid is relatively:-
Correct Answer
Higher
Your Answer
Higher

Multiple Choice Multiple Answer
Question
Components of deductions in salary are :-
Correct Answer
E.S.I. , Housing loan installment.
Your Answer
Basic salary. , E.S.I. , House rent allowance

Multiple Choice Single Answer
Question
Long-term wage Incentive plans are useful, where :-
Correct Answer
Jobs are inter-related
Your 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
Your Answer
Decreases

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
Your 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
Your 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
Your Answer
By formula , By discretion used in allocation of bonus , By Board of Directors

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
Your Answer
Non-monetary rewards

True/False
Question
Overtime paid for uncontrollable reasons is charged to Profit and Loss Account.
Correct Answer
True
Your Answer
True

True/False
Question
Economic system does result in the concentration of wealth.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
As industrialization taking place, the family values have :-
Correct Answer
Changed
Your 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
Your 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
Your 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
Your Answer
Stable product lines and costs , Strong commitment to plan , Healthy labour relations

True/False
Question
Surprise check on calculation & disbursement of payments is necessary to avoid any fraud.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Dotcom companies were founded to go beyond :-
Correct Answer
Physical business
Your Answer
National boundaries

Select The Blank
Question
Piece workers come under ________ class of workers.
Correct Answer
Semi - skilled
Your Answer
Unskilled

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

True/False
Question
Direct labour costs are included in cost of production of each unit.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
In co-partnership Incentive system, there is division of :-
Correct Answer
Surplus profit
Your Answer
Surplus profit

Multiple Choice Single Answer
Question
Wage & salary administration refers to the establishment and implementation of sound policies and practices of employee :-
Correct Answer
Compensation
Your Answer
Compensation

Multiple Choice Single Answer
Question
Remuneration paid for the service of the labour in production is :-
Correct Answer
Wage
Your Answer
Wage

Multiple Choice Multiple Answer
Question
Which of the following are used to compensate major executives?
Correct Answer
Straight salaries , Bonuses , Profit sharing
Your Answer
Straight salaries , Bonuses , Profit sharing

Multiple Choice Single Answer
Question
Carpenters engaged in cutting of wood in a furniture making shop is an example of :-
Correct Answer
Direct labour
Your Answer
Direct labour

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
Your Answer
1948

Multiple Choice Multiple Answer
Question
Following are avoidable causes of employees turnover :-
Correct Answer
Unsatisfactory pay package , Absence of job satisfaction
Your Answer
Unsatisfactory pay package , Better prospects outside , Absence of job satisfaction

Match The Following
Question
Correct Answer
Your Answer
Francis A Walker
1840 - 1897
1849 - 1883
David Ricardo
1772 - 1823
1723 - 1790
Adam Smith
1723 - 1790
1728 - 1794
Karl Marx
1849 - 1883
1772 - 1823

Multiple Choice Single Answer
Question
Marriages were supposed to be made in :-
Correct Answer
Heaven
Your Answer
Heaven

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

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

Multiple Choice Single Answer
Question
HR or Personnel department realises the relative worth of jobs by :-
Correct Answer
Job evaluation
Your Answer
Job evaluation

Multiple Choice Multiple Answer
Question
Scanlon plan of profit sharing aims at :-
Correct Answer
Reduction of cost of operation of increased production , Sharing in gains , Workers participation
Your Answer
Workers participation , Reduction of cost of operation of increased production , Sharing in gains

Select The Blank
Question
Ratio of number persons over 4 years of service at present to total employed 4 years ago is called ________
Correct Answer
Skill wastage index
Your Answer
Skill wastage index

Multiple Choice Single Answer
Question
To minimize disparity in wages & levels, following act is passed :-
Correct Answer
Minimum wages Act
Your Answer
Minimum wages Act

Multiple Choice Single Answer
Question
In developmental phase, the dotcom companies concentrate on :-
Correct Answer
Building brand
Your Answer
Launching IPO

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
Your Answer
Units of output can be measured , Direct relationship between employee efforts and quantity of output , Jobs are standardised

Select The Blank
Question
Compensation system should reduce ________.
Correct Answer
Employee turnover
Your Answer
Overheads

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
Your Answer
Agricultural workers , Industrial , Working in a living wage

Select The Blank
Question
To perform a ________ function by way of determining the social status of workers.
Correct Answer
Social
Your Answer
Social

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

Multiple Choice Single Answer
Question
Sequence of operations for a job is clear in case of :-
Correct Answer
Job cards.
Your Answer
Daily time sheet.

Multiple Choice Multiple Answer
Question
Level II in senior managers include or comprises of :-
Correct Answer
General Manager , Senior General Manager , Deputy General Manager
Your Answer
General Manager , Senior General Manager , Deputy General Manager

Multiple Choice Single Answer
Question
Group incentive plans are best suited for :-
Correct Answer
Small work groups
Your Answer
Small work groups

Select The Blank
Question
compensation should be ________ efficiency & result .
Correct Answer
Directly proportional
Your Answer
Directly proportional

True/False
Question
IT jobs still remain the best paying jobs in the country.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Good compensation system
Avoid exploitation
Avoid exploitation
High demand & Low supply
High compensation
High compensation
Equal work
Equal pay
Equal pay
Unskilled worker
Lower compensation
Lower compensation

Select The Blank
Question
If the idle time is controllable and normal, its cost is treated as ________ cost.
Correct Answer
Indirect
Your Answer
Direct

Select The Blank
Question
Life and Medical insurance or reimbursement of medical bills is considered as a part of ________.
Correct Answer
Perks
Your Answer
Perks

True/False
Question
Overtime paid because of inefficiency of other department is charged to the job.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
Effectiveness of incentive system is ascertained with the help of :-
Correct Answer
Efficiency report.
Your Answer
Efficiency report.

Multiple Choice Multiple Answer
Question
Demerits of time rate system at ordinary level are :-
Correct Answer
No distinction between efficient and inefficient workers at regards output , Increase the cost of production in case of low productivity
Your Answer
No distinction between efficient and inefficient workers at regards output , Increase the cost of production in case of low productivity , Simple to understand

Multiple Choice Multiple Answer
Question
Job analysis describes :-
Correct Answer
Duties , Responsibilities , Working conditions
Your Answer
Duties , Responsibilities , Working conditions

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

True/False
Question
Employee turnover rate focuses on stability of employee in the organisation.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
Employees cost to the company includes :-
Correct Answer
Basic wages , Incentives
Your Answer
Cost of personnel administration , Basic wages , Dearness allowance

True/False
Question
The cost of time lost in strikes is charged to Profit & Loss Account.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
When a dotcom company starts earning profits, promoters are focused on the launch of:-
Correct Answer
IPO
Your Answer
New business deals

Multiple Choice Single Answer
Question
The total of direct material, direct labour, direct expenses is called :-
Correct Answer
Prime cost
Your Answer
Prime cost

True/False
Question
Insurance of a worker is a part of gross salary.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
At germination stage, to attract and retain talent, dotcom companies offer :
Correct Answer
Stock option
Your Answer
Stock option

Select The Blank
Question
The ________ criterion is usually regarded as an automatic minimum equity pay criterion.
Correct Answer
Cost of living pay
Your Answer
Supply & demand of labour

True/False
Question If the rent paid by employee for his accommodation is equal to or more than the value of rent-free house, the value of the concession in rent is 'NIL'.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question Employees are paid incentives on 'Time' basis if :-
Correct Answer Units of output are difficult to measure , Delays in work are frequent , Quality is prime consideration
Your Answer Delays in work are frequent , Quality is prime consideration , Units of output are difficult to measure

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
Your Answer False

Multiple Choice Single Answer
Question Every worker is ensured the minimum payment in :-
Correct Answer Piece rate & time rate combination
Your Answer Piece rate & time rate combination

Select The Blank
Question Wages have at least ________ connotations from stand points of employers and employees.
Correct Answer 2
Your Answer 2

True/False
Question Taylor differential piece rate system is suitable for large scale production.
Correct Answer True
Your Answer True

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
Your Answer In advance

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

Match The Following
Question Correct Answer Your Answer

High wage level system Incentive to worker to improve performance Fixed cost decreases

Graduated time rate system Economical factor is consider Protect learners & slow workers

Straight piece rate system Productivity improvement Productivity improvement

Piece rate system & time rate combination Protect learners & slow workers Incentive to worker to improve performance


Multiple Choice Single Answer
Question Following is not a function of personnel department :-
Correct Answer Time keeping.
Your Answer Time keeping.

Multiple Choice Single Answer
Question Group incentive plans are best suited for :-
Correct Answer Small work groups
Your Answer Small work groups

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

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

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

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

Multiple Choice Multiple Answer
Question Job analysis describes :-
Correct Answer Duties , Responsibilities , Working conditions
Your Answer Duties , Responsibilities , Working conditions

Multiple Choice Multiple Answer
Question Production bonus is calculated on the basis of output norms decided through :-
Correct Answer Job analysis , Time studies
Your Answer Job analysis , Time studies , Job enrichment

Multiple Choice Single Answer
Question A type of group incentive plan is :-
Correct Answer Profit sharing scheme
Your Answer Profit sharing scheme

Multiple Choice Multiple Answer
Question Components of wage & salary are :-
Correct Answer Basic wage , Overtime wage , Dearness allowance
Your Answer Basic wage , Overtime wage , Dearness allowance

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

Multiple Choice Multiple Answer
Question Following are economic causes of idle time of labour :-
Correct Answer Trade cycles. , Non availability of working capital.
Your Answer Poor management. , Trade cycles. , Non availability of working capital.

Multiple Choice Multiple Answer
Question 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

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
Your Answer Tension , Lower productivity , More absenteeism

Multiple Choice Single Answer
Question 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/-
Your Answer Rs.100/-

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

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

Multiple Choice Single Answer
Question For designing profit sharing plan, the company has to first :-
Correct Answer Determine organisation's profit for year
Your Answer Enter into agreement

True/False
Question 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 Single Answer
Question HR or Personnel department realises the relative worth of jobs by :-
Correct Answer Job evaluation
Your Answer Job evaluation

Match The Following
Question Correct Answer Your Answer

I. L. O. To bring appropriate payment systems Emphasizes need for legislation

Child Exploitation Article 39 Article 39

Wage Policy Increase economic welfare To bring appropriate payment systems

Article 43 Emphasizes need for legislation To avoid exploitation of labour


Multiple Choice Single Answer
Question In co-partnership Incentive system, there is division of :-
Correct Answer Surplus profit
Your Answer Surplus profit

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 Good

True/False
Question Insurance of a worker is a part of gross salary.
Correct Answer False
Your Answer False

Select The Blank
Question ________ are assured of a stable amount of money.
Correct Answer Employees
Your Answer Employees

True/False
Question Employer's contribution to Superannuation Fund is taxable.
Correct Answer False
Your Answer False

Multiple Choice Multiple Answer
Question Jobs are graded according to the relative skill :-
Correct Answer Effort , Responsibility , Calculations
Your Answer Effort , Responsibility

Multiple Choice Single Answer
Question In Payroll process, Cost of Living Index provides the basis for calculating :-
Correct Answer D.A.
Your Answer D.A.

Multiple Choice Single Answer
Question Important aspect while determining pay ranges is to make general adjustments in wage structure according to the :-
Correct Answer Price index number
Your Answer Competitors pay structure

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
Your Answer True

True/False
Question In case of construction work / transportation / bidi rolling businesses, internal check of disbursement of payment to workers is very important.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question To enable employees to participate in profit sharing, employees should have :-
Correct Answer Worked for certain no. of years in company
Your Answer Worked for certain no. of years in company

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

Select The Blank
Question 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 and rewards, incentive plans cannot motivate workers.
Correct Answer True
Your Answer True

Select The Blank
Question ________ is a source document for preparation of wage sheet.
Correct Answer Attendance Register
Your Answer Attendance Register

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
Your Answer Agreement is voluntary , Payment may be in cash / stock of future credits , Computation on the basis of some agreed formula

Multiple Choice Single Answer
Question Time booking on job helps for :-
Correct Answer Estimating labour cost.
Your Answer Estimating labour cost.

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
Your Answer Very low

True/False
Question Within the factory group promotion is important.
Correct Answer False
Your Answer False

Multiple Choice Single Answer
Question Perquisites or profits or any remuneration received from person other than employer is taxable under the head :-
Correct Answer Income from other sources
Your Answer Income from other sources

Select The Blank
Question ________ under profit sharing contributes directly to an employee's immediate economic gain.
Correct Answer Cash plan
Your Answer Cash plan

True/False
Question House rent allowance paid to a employee residing in his own house is not exempt from tax.
Correct Answer True
Your Answer True

Select The Blank
Question Wage differentials are inter-industry, inter-firm and ________.
Correct Answer Inter area
Your Answer Inter area

True/False
Question Direct labour costs are included in cost of production of each unit.
Correct Answer True
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 Daily time sheet.

Multiple Choice Multiple Answer
Question Monetary incentive plans result in :-
Correct Answer Greater output per man-hour , Lower unit cost , Higher wages
Your Answer Greater output per man-hour , Lower unit cost , Higher wages

Select The Blank
Question Today there is strong competition for acquiring as much ________ as possible.
Correct Answer Wealth
Your Answer Wealth

Select The Blank
Question Executives are compensated for the various ________ incurred by them.
Correct Answer Expenses
Your Answer Expenses

Multiple Choice Multiple Answer
Question Broad groups may be illustrated within manufacturing as :-
Correct Answer Managerial , Clerical , Factory
Your Answer Managerial , Clerical , Factory

Multiple Choice Multiple Answer
Question Bonus, as the incentive to managers is determined :-
Correct Answer By formula , By discretion used in allocation of bonus
Your Answer By formula , By discretion used in allocation of bonus , By Board of Directors

Select The Blank
Question ________ generated out of payroll system shows amounts of debits and credits.
Correct Answer Journal entry
Your Answer Bills entry

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

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 Sharing profits undertaking

Emerson efficiency plan Gradual increase in remuneration based on efficiency Bonus to the group

Co-partnership system Sharing profits undertaking No fear of wage cut

Taylor's differential piece-rate plan No fear of wage cut Gradual increase in remuneration based on efficiency


Multiple Choice Single Answer
Question Following is method of time booking :-
Correct Answer Daily time sheet.
Your Answer Time recording clock.

Multiple Choice Single Answer
Question Work study department is engaged in activities like determining :-
Correct Answer Standard procedure
Your Answer Labour cost

Match The Following
Question Correct Answer Your Answer

Cost accounting Dept. Accumulation & classification all cost data Selection & training of employees.

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 time & motion studies


Multiple Choice Multiple Answer
Question Following are unavoidable causes of employees turnover :-
Correct Answer Retirement , Marriage
Your Answer Retirement , Marriage

True/False
Question The cost of time lost in strikes is charged to Profit & Loss Account.
Correct Answer True
Your Answer True

Select The Blank
Question Ratio of number persons over 4 years of service at present to total employed 4 years ago is called ________
Correct Answer Skill wastage index
Your Answer Skill wastage index

Multiple Choice Multiple Answer
Question Following are causes of idle time of labour pertaining to production,
Correct Answer Failure of electricity. , Breakdown of machinery
Your Answer Failure of electricity. , Seasonal nature of demand. , Breakdown of machinery

Multiple Choice Single Answer
Question Disadvantage of maintaining hand written register for attendance is :-
Correct Answer Depends upon honesty.
Your Answer Depends upon honesty.

True/False
Question Salary is still the only or chief motivator for IT employees.
Correct Answer False
Your Answer True

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

True/False
Question The cost of living pay criterion is usually regarded as an automatic minimum equity pay criterion
Correct Answer True
Your Answer False

True/False
Question Incentive schemes sometimes lead to jealousies and misunderstanding among the workers.
Correct Answer True
Your Answer True

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
Your Answer Agricultural workers , Industrial , Working in a living wage

Multiple Choice Multiple Answer
Question Advantages of having several pay ranges for each organisations are :-
Correct Answer The management could take a more flexible stance with respect to the labour market , It made it easy to attract experienced employees from other organisations , It helped to ensure that there was an overlap between the pay rates and those prevailing in the labour market
Your Answer The management could take a more flexible stance with respect to the labour market , It made it easy to attract experienced employees from other organisations , It helped to ensure that there was an overlap between the pay rates and those prevailing in the labour market

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
Your Answer False

Multiple Choice Multiple Answer
Question In profit-sharing plan, employees :-
Correct Answer Work more diligently , Try to achieve higher profits , Fulfill entirely their responsibilities
Your Answer Work more diligently , Try to achieve higher profits , Fulfill entirely their responsibilities

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
Your Answer Equity approach

Multiple Choice Single Answer
Question The total of direct & indirect material, labour & expenses is called :-
Correct Answer Total cost of production
Your Answer Prime cost

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

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

Multiple Choice Multiple Answer
Question For the valuation of rent free accommodation, 'Salary' includes :
Correct Answer D A , Bonus , Education Allowance
Your Answer D A , Education Allowance

Multiple Choice Single Answer
Question Towns are getting converted into cities and cities into :-
Correct Answer Metro
Your Answer Metro

Multiple Choice Multiple Answer
Question Scanlon plan of profit sharing aims at :-
Correct Answer Workers participation , Reduction of cost of operation of increased production , Sharing in gains
Your Answer Workers participation , Reduction of cost of operation of increased production , Sharing in gains

Multiple Choice Single Answer
Question Indirect compensation mainly acts as :-
Correct Answer Maintenance factor
Your Answer Maintenance factor

Select The Blank
Question Overtime payment given to the worker due to general pressure of work is treated as ________ cost.
Correct Answer Indirect
Your Answer Indirect

Multiple Choice Multiple Answer
Question Which of the following are used to compensate major executives?
Correct Answer Straight salaries , Bonuses , Profit sharing
Your Answer Straight salaries , Bonuses , Profit sharing

Multiple Choice Single Answer
Question Long-term wage Incentive plans are useful, where :-
Correct Answer Jobs are inter-related
Your Answer Jobs are inter-related

Multiple Choice Single Answer
Question Group incentive payments are :-
Correct Answer Less than individual ones
Your Answer Less than individual ones

Multiple Choice Single Answer
Question The criterion, that means, wages paid should be adequate to enable an employee to maintain himself and his family at a reasonable level of existence is :-
Correct Answer The living wage
Your Answer The living wage

Multiple Choice Single Answer
Question According to the thinking and beliefs of these young persons, the major need filled by marriage is biological and this can be easily satisfied out of :-
Correct Answer Wedlock
Your Answer Wedlock

True/False
Question The payment of profit sharing plan is of uncertain nature because of uncertainty of profits to the company.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question The wage and salary administration is concerned with the financial aspect of need, reward and :-
Correct Answer Motivation
Your Answer Motivation

Multiple Choice Multiple Answer
Question Documents used for wage analysis are :-
Correct Answer Job cards , Wage sheets
Your Answer Job cards , Wage sheets

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
Your Answer Compensation structure

True/False
Question IT jobs still remain the best paying jobs in the country.
Correct Answer True
Your Answer True

Match The Following
Question Correct Answer Your Answer

Francis A Walker 1840 - 1897 1772 - 1823

David Ricardo 1772 - 1823 1849 - 1883

Adam Smith 1723 - 1790 1723 - 1790

Karl Marx 1849 - 1883 1840 - 1897


True/False
Question Many companies have chosen some what shady reimbursement or perquisite in order to contain the overall cost in the assumption of being non taxable.
Correct Answer True
Your 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
Your 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 Dotcom companies were founded to go beyond :-
Correct Answer Physical business
Your Answer National boundaries

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
Your 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 avoidable causes of employees turnover :-
Correct Answer Unsatisfactory pay package , Absence of job satisfaction
Your Answer Unsatisfactory pay package , Better prospects outside , Absence of job satisfaction

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
Your Answer Direct interaction with customers and client organizations , Reduction of capital cost , Huge no of employees

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
Your Answer Units of output can be measured , Direct relationship between employee efforts and quantity of output , Jobs are standardised

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
Your Answer True

True/False
Question Compensation given to an employee on termination or dismissal is considered as Salary Income.
Correct Answer True
Your Answer False

Select The Blank
Question The nature and extent of wage differential are conditioned by a ________.
Correct Answer Set of factors
Your Answer Set of conditions

Multiple Choice Single Answer
Question When a dotcom company starts earning profits, promoters are focused on the launch of:-
Correct Answer IPO
Your Answer IPO

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

Select The Blank
Question If the idle time is controllable and normal, its cost is treated as ________ cost.
Correct Answer Indirect
Your Answer Direct

Multiple Choice Single Answer
Question As industrialization taking place, the family values have :-
Correct Answer Changed
Your Answer Changed

Select The Blank
Question ________ are also aid to executives a certain percentage of the profits.
Correct Answer Bonuses
Your Answer Bonuses

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

True/False
Question Time booking helps to ascertain direct and indirect labour costs.
Correct Answer True
Your Answer False

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

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

Select The Blank
Question Payment to out workers is done on ________ basis.
Correct Answer Monthly
Your Answer Piece rate.

Multiple Choice Single Answer
Question Expenses incurred by business for packing & packaging, advertisement, sales promotion is called :-
Correct Answer Overheads
Your Answer Overheads

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
Your Answer True

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

Select The Blank
Question Compensation system should reduce ________.
Correct Answer Employee turnover
Your Answer Employee turnover

True/False
Question Economic system does result in the concentration of wealth.
Correct Answer False
Your Answer True

Select The Blank
Question ________ provides benefits at the time of retirement/ death / following disability of worker.
Correct Answer Deferred plan
Your Answer Deferred plan

Multiple Choice Single Answer
Question The expenditure on remuneration of workers/employees responsible for conversion of raw material into finished products is called :-
Correct Answer Direct labour
Your Answer Direct expenses

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
Your Answer Professional earnings

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

True/False
Question Group incentive system is more widely prevalent in the Indian industry than the system of individual incentive.
Correct Answer True
Your Answer True

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
Your Answer Job evaluation

Select The Blank
Question ________ is financial / quantitative statement prepared & approved prior to a period of time.
Correct Answer Budget
Your Answer Budget

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

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

Multiple Choice Multiple Answer
Question Level II in junior managers comprises of :-
Correct Answer Engineers , Officers , Senior Engineers
Your Answer Engineers , Officers , Senior Engineers

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 Multiple Answer
Question Major components of compensation :-
Correct Answer Salary , Basic salary , Consolidated salary
Your Answer Salary , Consolidated salary

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
Your Answer Tendency among workers to sacrifice quality for quantity , Rapid progress in technology , Disregard for safety regulations by workers

Multiple Choice Multiple Answer
Question Aspects which were considered while determining pay ranges are :-
Correct Answer Maintain adequate difference between supervisors & subordinates , Attention must be given to handling upward changes in wage structure
Your Answer Maintain adequate difference between supervisors & subordinates , Attention must be given to handling upward changes in wage structure

Multiple Choice Single Answer
Question In recent times, in addition to stock options, employees of dotcom companies are demanding :-
Correct Answer Cash bonus
Your Answer Cash bonus

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

Question Documents used for wage analysis are :-
Answer Wage sheets , Job cards
Question Indirect compensation mainly acts as :-
Answer Maintenance factor
Question The lacuna which led to the introduction of 'Employee's
Deposit Linked Insurance Scheme' did not have effect from :-
Answer 7th of March 1971 , 3rd of March 1971 , 2nd of March 1971
Question Source documents for preparations of wages are :-
Answer Daily time sheet , Weekly time sheet. , Attendance register.

Question Following are causes of idle time of labour pertaining to
administration :-
Answer Poor management , Management policy
Answer Managerial attitude
Unskilled worker Lower compensation Lower compensation

Good compensation system Avoid exploitation Higher skills

High demand & Low supply High compensation High compensation

Equal work Equal pay Equal pay

Question Employees in the railways are entitled of payment of wages
Act, 1936 who are drawing wages and salaries below :-
Answer Rs. 1600/- a month
Question In the case of salary income, it is important that there
should be a :-
Answer Relation of employer and employee
Question Disadvantage of maintaining hand written register for
attendance is :-
Answer Depends upon honesty.
Question Ratio of number of persons over 4 years of service at
present to present total employees is called ________
Answer Skill dilution index
Question ________ is a source document for preparation of wage sheet.
Answer Attendance Register
Question Financial &/or quantitative statement prepared & approved
prior to period of time is called :-
Answer Budget
Question Group incentive payments are :-
Answer Less than individual ones
Question In profit-sharing plan, employees :-
Answer Work more diligently , Try to achieve higher profits ,
Fulfill entirely their responsibilities
Question Every worker is ensured the minimum payment in :-
Answer Piece rate & time rate combination
Question In the history of Indian IT industry, the year 2001-2002
will be remembered as ________.
Answer Year of lay-offs
Question Carpenters engaged in cutting of wood in a furniture making
shop is an example of :-
Answer Direct labour
Question Time rate systems are :-
Answer Ordinary level , High wage level , Graduated time rates
Question After deducting depreciation and initial or development
rebate from profit, we arrive at ________.
Answer Surplus profit
Question Any other amenity or service excluded from the computation
of wages by a general or special order of appropriate Govt.
Answer False
Question Taylor differential piece rate system is difficult to
understand and implement.
Answer False
Question Employees are paid incentives on 'Output' basis if :-
Answer Units of output can be measured , Direct relationship
between employee efforts and quantity of output , Jobs are standardised
Your Answer Units of output can be measured , Direct relationship
between employee efforts and quantity of output , Jobs are standardised


Question Wage differentials have been classified into ________
categories.
Answer 3
Question Compensation policy does not need criteria for promotions.
Answer False
Question ________ is financial / quantitative statement prepared &
approved prior to a period of time.
Answer Budget
Question Halsey Premium plan is a combination of the day wage & piece
wage in modified form.
Answer True
Question Employees are paid incentives on 'Time' basis if :-
Answer Units of output are difficult to measure , Delays in work
are frequent , Quality is prime consideration
Question In profit-sharing plan, the proportion of profits to be
distributed among the employees is determined :-
Answer In advance
Question Direct labour cost varies in proportion to output of
production.
Answer False
Question First to lay down the guidelines for fixation of Minimum
Wages was :-
Answer Indian Labour Conference
Question Within the factory group promotion is important.
Answer False
Question There are many methods that an alive ________ management can
creatively develop for employees rendered redundant through little
forethought.
Answer HRD
Question Wage structure is made flexible according to the changes in
the price level and ________.
Answer Working efficiency
Question Remuneration paid for the service of the labour in
production is :-
Answer Wage
Question Various enactments that are applicable to employees of
organization are :-
Answer Payment of Gratuity Act , Payment of Bonus Act , Employee's
Provident Fund & Misc. Provisions Act
Question Salary is still the only or chief motivator for IT
employees.
Answer False
Question Time rate system at ordinary level is suitable where :-
Answer Quality of output is of great importance , Quantitative
measurement of work is not possible , Production unit is small
Question If the same or about the same general rates of wages were
not paid to the employees as were paid by the organisation's competitors, it
would not be able to attract and maintain a sufficient quantity and quality
of manpower.
Answer False
Question Which of the following are used to compensate major
executives?
Answer Straight salaries , Bonuses , Profit sharing
Question Direct labour costs are included in cost of production of
each unit.
Answer True
Wage disbursement Actual payment of remuneration Payment on vouchers

Attendance Register Input to payroll process Actual payment of
remuneration

Pay slips Output of payroll process Output of payroll process

Journal entry Amounts of debit & credit Amounts of debit & credit

Question ________ cost do not vary much in proportion to output or
volume of production.
Answer Direct Labour
Question The total of direct material, direct labour, direct expenses
is called :-
Answer Prime cost
Question If workers do not understand relationship between
performance and rewards, incentive plans cannot motivate workers.
Answer True
Question Overtime payment given to the worker for completing work
before scheduled date art the instruction of buyer is treated as ________
cost
Answer Direct
Question Contribution to the P.F. have to be remitted along with the
challan for Account No.:-
Answer 2 , 21 , 10

Question Surprise check on calculation & disbursement of payments is
necessary to avoid any fraud.
Answer True
Question Dotcom companies were founded to go beyond :-
Answer Physical business
Question Piece workers come under ________ class of workers.
Answer Semi - skilled
Question Persons interested in enhancing their reputations and
receiving recognition may respond to ________.
Answer Verbal praise
Question Direct labour costs are included in cost of production of
each unit.
Answer True
Question In co-partnership Incentive system, there is division of :-
Answer Surplus profit
Question Wage & salary administration refers to the establishment and
implementation of sound policies and practices of employee :-
Answer Compensation
Question Remuneration paid for the service of the labour in
production is :-
Answer Wage
Question Which of the following are used to compensate major
executives?
Answer Straight salaries , Bonuses , Profit sharing
Question Carpenters engaged in cutting of wood in a furniture making
shop is an example of :-
Answer Direct labour
Question Employee's State Insurance Act, ________ is a pioneering
measure in the field of social insurance of our country.
Answer 1948
Question Following are avoidable causes of employees turnover :-
Answer Unsatisfactory pay package , Absence of job satisfaction
Francis A Walker 1840 - 1897 1849 - 1883

David Ricardo 1772 - 1823 1723 - 1790

Adam Smith 1723 - 1790 1728 - 1794

Karl Marx 1849 - 1883 1772 - 1823

Question Marriages were supposed to be made in :-
Answer Heaven
Question Wage differentials are of following factors :-
Answer Difference in labour efficiency , Social esteem , Occupation

Question In India, Group incentive plans face problems like :-
Answer High norms of standard work , Illiterate workforce ,
Numerous slabs in rate structure
Question HR or Personnel department realises the relative worth of
jobs by :-
Answer Job evaluation
Question Scanlon plan of profit sharing aims at :-
Answer Reduction of cost of operation of increased production ,
Sharing in gains , Workers participation
Question Ratio of number persons over 4 years of service at present
to total employed 4 years ago is called ________
Answer Skill wastage index
Question To minimize disparity in wages & levels, following act is
passed :-
Answer Minimum wages Act
Question In developmental phase, the dotcom companies concentrate on
:-
Answer Building brand
Question Employees are paid incentives on 'Output' basis if :-
Answer Units of output can be measured , Direct relationship
between employee efforts and quantity of output , Jobs are standardised
Question Compensation system should reduce ________.
Answer Employee turnover
Question Article 43 reads: State shall endeavour to secure by
suitable legislation to all :-
Answer Agricultural workers , Industrial , Working in a living wage

Question To perform a ________ function by way of determining the
social status of workers.
Answer Social
Question If workers do not understand relationship between
performance and rewards, incentive plans cannot motivate workers.
Answer True
Question Sequence of operations for a job is clear in case of :-
Answer Job cards.
Question Level II in senior managers include or comprises of :-
Answer General Manager , Senior General Manager , Deputy General
Manager
Question Group incentive plans are best suited for :-
Answer Small work groups
Question compensation should be ________ efficiency & result .
Answer Directly proportional
Question IT jobs still remain the best paying jobs in the country.
Answer True
Good compensation system Avoid exploitation Avoid exploitation

High demand & Low supply High compensation High compensation

Equal work Equal pay Equal pay

Unskilled worker Lower compensation Lower compensation



Question If the idle time is controllable and normal, its cost is
treated as ________ cost.
Answer Indirect
Question Life and Medical insurance or reimbursement of medical bills
is considered as a part of ________.
Answer Perks
Question Overtime paid because of inefficiency of other department is
charged to the job.
Answer False
Question Effectiveness of incentive system is ascertained with the
help of :-
Answer Efficiency report.
Question Demerits of time rate system at ordinary level are :-
Answer No distinction between efficient and inefficient workers at
regards output , Increase the cost of production in case of low productivity

Question Job analysis describes :-
Answer Duties , Responsibilities , Working conditions
Question A good incentive scheme should have :-
Answer Elasticity , Parity , Less operational costs
Question Employee turnover rate focuses on stability of employee in
the organisation.
Answer False
Question Employees cost to the company includes :-
Answer Basic wages , Incentives
Question The cost of time lost in strikes is charged to Profit & Loss
Account.
Answer True
Question When a dotcom company starts earning profits, promoters are
focused on the launch of:-
Answer IPO
Question The total of direct material, direct labour, direct expenses
is called :-
Answer Prime cost
Question Insurance of a worker is a part of gross salary.
Answer False
Question At germination stage, to attract and retain talent, dotcom
companies offer :
Answer Stock option
Question The ________ criterion is usually regarded as an automatic
minimum equity pay criterion.
Answer Cost of living pay

Question Standards of efficiency should be fixed by taking into
consideration ________ worker & Normal working conditions.
Answer Normal
Question In graduated time rates system, if basic salary is Rs.2000
and dearness allowance is 150% then total remuneration will be :-
Answer Rs.5000/-
Question Job evaluation is the output provided by :-
Answer Job Analysis
Question The persons working in multinational companies occupying the
higher positions in hierarchy enjoy :-
Answer Lavish life-style
Question Incentive schemes sometimes lead to jealousies and
misunderstanding among the workers.
Answer True
Question Dotcom companies were founded to go beyond :-
Answer Physical business
Question Persons interested in enhancing their reputations and
receiving recognition may respond to ________.
Answer Verbal praise
Question IT jobs still remain the best paying jobs in the country.
Answer True
Question In developmental phase, the dotcom companies concentrate on
:-
Answer Building brand
Question Salesmen are usually given incentives in the form of sales
commission because of :-
Answer Unsupervised nature of most sales work , Tradition in the
market , Assumption that incentives are needed to motivate salesman
Question The wage and salary administration is concerned with the
financial aspect of need, reward and :-
Answer Motivation
Question Gross Earnings - Deductions equals ________.
Answer Net Earnings
Question Insurance of a worker is a part of gross salary.
Answer False
Question Organization's ability to pay, determines ________.
Answer Wage level
Question Objectives laid down by I.L.O. are :-
Answer Promote Trade Union , Abolish malpractices , Abuse in wage
payment
Question Article 43 reads: State shall endeavour to secure by
suitable legislation to all :-
Answer Agricultural workers , Industrial , Working in a living wage

Question Following are the forms of the cost of replacement :-
Answer Cost of advertisement for recruitment , Cost of conducting
interviews , Cost of interruption in production
Question Main features of society are :-
Answer Domination of machines , Exploitation of workers , Poor
working conditions
Question In Compensation plans the following are taken into account
:-
Answer Cost of production , Reduction in expenses , Profits made
Question ________ had a decisive influence on the wage structure &
wage level.
Answer Managerial attitude
Question The approach of managerial / executive staff towards the
perquisites has changed since last :-
Answer 10 years , 9 years , 8 years
Question Aspects which were considered while determining pay ranges
are :-
Answer Maintain adequate difference between supervisors &
subordinates , Attention must be given to handling upward changes in wage
structure
Question If the rent paid by employee for his accommodation is equal
to or more than the value of rent-free house, the value of the concession in
rent is 'NIL'.
Answer True
Question Gradewise flat allowances are also being considered
generally except where tax exemption benefit are still available.
Answer True
Question A job is rated in order to determine its value relative to
all the others jobs in organization which are subject to :-
Answer Evaluation
Question In marginal costing costs are classified as:-
Answer Fixed & Variable
Question Indirect labour cost forms a part of overheads.
Answer True
Question Which of the following are used to compensate major
executives?
Answer Straight salaries , Bonuses , Profit sharing
Question If classification system is used, the jobs are already
categorized into grade or :-
Answer Class
Question Production bonus is calculated on the basis of output norms
decided through :-
Answer Job analysis , Time studies
Question Cost of employee welfare activities comes under ________
cost.
Answer Preventive

Ranking System Ranks Ranks

Wage and salary administration Compensation Compensation

Remuneration paid Wage Wage

Classification System Class Class



Question Production planning includes :-
Answer Product engineering.
Question Incentive schemes sometimes lead to jealousies and
misunderstanding among the workers.
Answer True
Question Following are economic causes of idle time of labour :-
Answer Trade cycles. , Non availability of working capital.
Question Reward may be money or promotion, but more likely it will be
some pay-off -a smile, and :-
Answer Acceptance by peer
Question The cost of time lost in strikes is charged to Profit & Loss
Account.
Answer True
Question House rent allowance paid to a employee residing in his own
house is not exempt from tax.
Answer True
Question Today there is strong competition for acquiring as much
________ as possible.
Answer Wealth
Question Payment is done on the basis of units of output, incase of
________ workers.
Answer Piece
Question Ratio of number of persons over 4 years of service at
present to present total employees is called ________
Answer Skill dilution index
Question In post IPO stage, dotcom company gives its employees :-
Answer Balanced total reward package
Question Factors not related to money can also serve as ________.
Answer Attention seekers
Question In material costing ________ Costs are written at to
Marginal profit & loss A/c.
Answer Fixed
Employee turnover Separation rate Difficult to control

Direct labour cost Difficult to control Fixed costs

Indirect labour cost Cannot be easily identified with product
Indirect expenses.

Stability index Skill dilution index Skill dilution index

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 ?
Answer Rs.96/-
Question If the employment is merely incidental to the exercise of a
profession, the gains from such employment would be :-
Answer Professional earnings
Question Group incentive system is more widely prevalent in the
Indian industry than the system of individual incentive.
Answer True
Question IT jobs still remain the best paying jobs in the country.
Answer True
Question ________ is financial / quantitative statement prepared &
approved prior to a period of time.
Answer Budget
Question Consideration for wage and salary administration are :-
Answer Job requirement
Question Person working in MNC's occupying higher positions devote
most of their time for their :-
Answer Employment & job
Question Components of wage & salary are :-
Answer Basic wage , Overtime wage , Dearness allowance
Question Monetary incentives imply :-
Answer External motivation
Question The incentive plan designed for the group based on group's
performance is called :-
Answer Long-term wage incentive plan
Question Taylor differential piece rate system is suitable for large
scale production.
Answer True
Question Salesmen are usually given incentives in the form of sales
commission because of :-
Answer Unsupervised nature of most sales work , Tradition in the
market , Assumption that incentives are needed to motivate salesman
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.
Answer Equity approach
Question Wage Policy is not of great concern to labour, management
and Govt.
Answer False
Question To perform a ________ function by way of determining the
social status of workers.
Answer Social
Question Life and Medical insurance or reimbursement of medical bills
is considered as a part of ________.
Answer Perks
Question Extent of employees turnover depends upon :-
Answer Physical conditions within organisation , Type of industry ,
Male to female ratio
Question Performance standards & norms for incentive payments should
be set up high for better results.
Answer False
Question E.S.I. Act aims at providing for certain cash benefits to
employees in case of :-
Answer Sickness , Maternity , Medical
Question Employer's contribution to Superannuation Fund is taxable.
Answer False
Question Forces that favour regional differences are :-
Answer Low mobility , Lower skilled job , Sources of income
Question The goals and ideals of a traditional Indian family were
spiritual and religious.
Answer True
Question In graduated time rates system, if basic salary is Rs.2000
and dearness allowance is 150% then total remuneration will be :-
Answer Rs.5000/-
Top managers Non-financial benefits Compensatory day-off

Workers Piece-rate Piece-rate

Salesmen Commission Bonus

Managers Bonus Overtime

Question The scanlon plan of profit sharing gives utmost importance
to ________.
Answer Employee participation
Question If workers do not understand relationship between
performance and rewards, incentive plans cannot motivate workers.
Answer True
Question Financial &/or quantitative statement prepared & approved
prior to period of time is called :-
Answer Budget
Question Group incentive plans may not become successful due to :-
Answer Unevenness of performance of different members of groups ,
Ill-feeling among group members , No recognition for individual performance
Question Bonus is component of deductions.
Answer False
Question The ________ criterion is usually regarded as an automatic
minimum equity pay criterion.
Answer Cost of living pay
Question Wages of security men in a production unit comes under :-
Answer Indirect labour
Question Major features of production are :-
Answer Labour , Land , Capital
Question The Scanlon plan of profit sharing is more effective where
no of participants is more than 1000.
Answer False
Question Incentive plans fail due to :-
Answer Lack of required tools / training , Unfair standards , Fear
of rate cut
Question Objectives laid down by I.L.O. are :-
Answer Abolish malpractices , Abuse in wage payment , Promote Trade
Union
Question Persons interested in enhancing their reputations and
receiving recognition may respond to ________.
Answer Verbal praise
Question Profit sharing, as an incentive plan, realizes these
advantages :-
Answer Higher profits , Increased efficiency , Climate for better
employee relations
Question Characteristic of a good compensation system is :-
Answer Higher the efficiency of worker, higher is compensation.
Question The institutions of marriage and family are also to be found
in every :-
Answer Society
Question Hospitality industries includes :-
Answer Hotels
Question To make Scanlon plan successful, there should be :-
Answer Stable product lines and costs , Strong commitment to plan ,
Healthy labour relations
Question For higher management, ________ are influenced by the size
of a company, specific industry and the process of decision making.
Answer Salaries
Question Indirect labour cost forms a part of overheads.
Answer True
Question Salary is still the only or chief motivator for IT
employees.
Answer False
Question Perquisites taxable in all cases include :-
Answer Value of rent free accommodation provided by employer to his
employee
Question A good incentive scheme should have :-
Answer Elasticity , Parity , Less operational costs
Question In Taylor differential piece rate system, high piece rate is
applicable if ________.
Answer Output is above standard
Question Leave pay of current year is treated as ________.
Answer Direct Expenses
Question Cost of time spent on conducting interviews & selecting a
candidate for ________ is called Replacement cost.
Answer Replacement
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 ?
Answer Rs.96/-
Question Wage differentials are of following factors :-
Answer Difference in labour efficiency , Social esteem , Occupation

Question Monetary incentives imply :-
Answer External motivation
Question Documents useful for the purpose of wage analysis are :-
Answer Wage sheets , Payroll , Accounting registers
Question Variance analysis is done in case of :-
Answer Standard costing
Question If classification system is used, the jobs are already
categorized into grade or :-
Answer Class
Question Inter-firm differentials reflect ________ wage levels of
workers.
Answer Relative
Question Wage Policy is of great concern to :-
Answer Labour Management & Govt.
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.
Answer Equity approach
Institutions of marriages & family Society Metros

Past Marriages Permanent Society



Question Incentive payments should be made at the end of fiscal year.
Answer False
Question Most companies as against earlier visible cost don't use the
"Total Cost To The Company".
Answer False
Question During the research it was found that in certain cities
prevailing wage rate are ________where as organizational ability to pay is
more.
Answer Very low
Question In the history of Indian IT industry, the year 2001-2002
will be remembered as ________.
Answer Year of lay-offs

Question The lacuna which led to the introduction of 'Employee's
Deposit Linked Insurance Scheme' did not have effect from :-
Answer 7th of March 1971 , 3rd of March 1971 , 2nd of March 1971
Question Time rate system at ordinary level is suitable where :-
Answer Quality of output is of great importance , Quantitative
measurement of work is not possible , Production unit is small
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).
Answer True
Question E.S.I. Act aims at providing for certain cash benefits to
employees in case of :-
Answer Sickness , Maternity , Medical
Question Overtime payment given to the worker due to inefficiency of
other department is charged to ________.
Answer Responsible Department
Question Wage differentials are inter-industry, inter-firm and
________.
Answer Inter area
Question If the point method of job evaluation is used the pay grade
consists of jobs falling within the range of :-
Answer Points
Question ________ is the unique code allotted to each & every
employee in the organization.
Answer Employee No.
Question Earning in time rate systems, at ordinary levels is
calculated by formula :-
Answer Rate per hour x hours worked
Question The nature and extent of wage differential are conditioned
by a ________.
Answer Set of factors
Question Monetary incentive plans result in :-
Answer Greater output per man-hour , Lower unit cost , Higher wages

Question Contribution to the Provident Funds are made at certain rate
or certain percentage of salary of employee, only by the Employer.
Answer False
Question For adequate and effective internal check on disbursement of
wages, these factors are important :-
Answer Proper time recording , Proper record of output by workers ,
Well-defined terms of remuneration and incentive schemes
Question With about 2-5 years of experience, an employee can move
upto manager level from executive level in IT industry.
Answer True
Question In dotcom companies, there is :-
Answer Huge no of employees , Direct interaction with customers and
client organizations , Reduction of capital cost
Question Any other amenity or service excluded from the computation
of wages by a general or special order of appropriate Govt.
Answer False
Question In effective incentive plan, standards on which plan is
based should be :-
Answer Fair , Reasonable , Specific
Question The institutions of marriage and family are also to be found
in every :-
Answer Society
Institutions of marriages & family Society Metros

Past Marriages Permanent Society

Question In the history of Indian IT industry, the year 2001-2002
will be remembered as ________.
Answer Year of lay-offs
Question Sequence of operations for a job is clear in case of :-
Answer Job cards.
Question The wage structure or grade is comprised of jobs of
appropriately equal difficulty or importance as determined by :-
Answer Job evaluation
Question Generally, the strong & more powerful is the trade union,
the ________ are the wages.
Answer Higher
Question Overtime payment given to the worker due to general pressure
of work is treated as ________ cost.
Answer Indirect
Question In standard costing, cost is controlled through :-
Answer Variance analysis
Question The expenditure on remuneration of workers/employees
responsible for conversion of raw material into finished products is called
:-
Answer Direct labour
Employee turnover Separation rate Difficult to control

Direct labour cost Difficult to control Fixed costs

Indirect labour cost Cannot be easily identified with product
Cannot be easily identified with product

Stability index Skill dilution index Skill dilution index



Question Hospitality industries includes :-
Answer Hotels
Question By using straight piece rate system of compensation output
:-
Answer Increases
Question Ratio of number persons over 4 years of service at present
to total employed 4 years ago is called ________
Answer Skill wastage index
Question Group incentive plans may not become successful due to :-
Answer Unevenness of performance of different members of groups ,
Ill-feeling among group members , No recognition for individual performance
Question compensation should be ________ efficiency & result .
Answer Directly proportional
Question Rate of change in the working force of an organisation
during a period of time is known as employee turnover.
Answer True
Question In case of construction work / transportation / bidi rolling
businesses, internal check of disbursement of payment to workers is very
important.
Answer True
Question Group incentive system is more widely prevalent in the
Indian industry than the system of individual incentive.
Answer True
Question After deducting depreciation and initial or development
rebate from profit, we arrive at ________.
Answer Surplus profit
Question Profession Tax is deducted as per the enactment by :-
Answer State Govt.
Question Gradewise flat allowances are also being considered
generally except where tax exemption benefit are still available.
Answer True
Question Incentive plans fail due to :-
Answer Unfair standards , Fear of rate cut , Lack of required tools
/ training
Question Any imbalance in input-output relation in any incentive
payment scheme can result in :-
Answer Tension , Lower productivity , More absenteeism
Question The management must concentrate on creating proper
industrial relations climate before introducing incentive schemes.
Answer True
Question Wage & salary administration refers to the establishment and
implementation of sound policies and practices of employee :-
Answer Compensation
Question Factors not related to money can also serve as ________.
Answer Attention seekers
Question According to the thinking and beliefs of these young
persons, the major need filled by marriage is biological and this can be
easily satisfied out of :-
Answer Wedlock
Question Wages have at least ________ connotations from stand points
of employers and employees.
Answer 2
Question Advantage of disc method of attendance recording is :-
Answer Suitable for illiterate worker.
Question Overtime paid because of inefficiency of other department is
charged to the job.
Answer False

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

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



Question The cutting edge of an organization is its people. The work
culture thus is being redefined to bring out the best in :-
Answer Employees , Managers , Executives
Question When a dotcom company starts earning profits, promoters are
focused on the launch of:-
Answer IPO
Question Halsey Premium plan is a combination of the day wage & piece
wage in modified form.
Answer True
Question Main features of society are :-
Answer Domination of machines , Exploitation of workers , Poor
working conditions
Question In material costing ________ Costs are written at to
Marginal profit & loss A/c.
Answer Fixed
Question Level II in junior managers comprises of :-
Answer Engineers , Officers , Senior Engineers
Question Forces that favour regional differences are :-
Answer Low mobility , Lower skilled job , Sources of income
Question ________ under profit sharing contributes directly to an
employee's immediate economic gain.
Answer Cash plan
Question Indirect labour cost forms a part of overheads.
Answer True
Question In following circumstances of overtimes, the cost is treated
indirect costs :-
Answer General pressure of work. , Inefficiency.
Question Following are the forms of the cost of replacement :-
Answer Cost of advertisement for recruitment , Cost of conducting
interviews , Cost of interruption in production
Question To make Scanlon plan successful, there should be :-
Answer Stable product lines and costs , Strong commitment to plan ,
Healthy labour relations
Question Monetary incentives imply :-
Answer External motivation
Question Return and wage differentials are contained by a set of
factors such as :-
Answer Market conditions , Bargaining power , Productivity
Question Monitory payment often act as motivators and satisfiers
interdependently of other job factors.
Answer True
Question Time booking on job helps for :-
Answer Estimating labour cost.
Question Process of readjustment inevitable calls for changes in the
________ system and its practice.
Answer Human Resource
Question Wage differentials have a great ________ and social
significance.
Answer Economic
Question Employee turnover rate focuses on stability of employee in
the organisation.
Answer False
Question Jobs are graded according to the relative skill :-
Answer Effort , Responsibility , Calculations
Question Direct labour costs are included in cost of production of
each unit.
Answer True
Question ________ provides benefits at the time of retirement/ death
/ following disability of worker.
Answer Deferred plan
Question To minimize disparity in wages & levels, following act is
passed :-
Answer Minimum wages Act
Question A job is rated to determine :-
Answer Its value relative to other jobs in organization
Article 43 Emphasizes need for legislation To avoid exploitation of
labour

I. L. O. To bring appropriate payment systems Increase economic
welfare

Child Exploitation Article 39 Article 39

Wage Policy Increase economic welfare To bring appropriate payment
systems



Question Cost accounting department analyze payroll for the purpose
of revealing :-
Answer Normal and abnormal idle time , Direct & indirect labour ,
Variance from budgeted costs
Question Marriages were supposed to be made in :-
Answer Heaven
Question Bonus is component of deductions.
Answer False
Question Provident Funds can be of the following types :-
Answer Statutory Provident Fund , Recognised Provident Fund ,
Public Provident Fund

Question Minimum wages are not to be fixed in an industry which
employs less then how many employees in the entire state?
Answer 1000
Question Control of labour cost is essential in every organisation to
:-
Answer Determine indirect labour cost.
Question Effectiveness of incentive system is ascertained with the
help of :-
Answer Efficiency report.
Question In case of ________ workers payment is done on the basis of
total work done.
Answer Casual
Question Following are unavoidable causes of employees turnover :-
Answer Retirement , Marriage
Question Cost of labour minute operation is available from :-
Answer Job cards.
Question Broad groups may be illustrated within manufacturing as :-
Answer Managerial , Clerical , Factory
Question Contribution to the Provident Funds are made at certain rate
or certain percentage of salary of employee, only by the Employer.
Answer False
Question The management must concentrate on creating proper
industrial relations climate before introducing incentive schemes.
Answer True
Question Time booking helps to ascertain direct and indirect labour
costs.
Answer True
Question ________ generated out of payroll system shows amounts of
debits and credits.
Answer Journal entry
Question In post IPO stage, dotcom company gives its employees :-
Answer Balanced total reward package
Question In material costing ________ Costs are written at to
Marginal profit & loss A/c.
Answer Fixed
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.
Answer False
Question Overtime payment given to the worker for completing work
before scheduled date art the instruction of buyer is treated as ________
cost
Answer Direct
Question Major features of production are :-
Answer Labour , Land , Capital
Question The Scanlon plan of profit sharing is more effective where
no of participants is more than 1000.
Answer False
Question In developmental phase, the dotcom companies concentrate on
:-
Answer Building brand
Question In recent times, in addition to stock options, employees of
dotcom companies are demanding :-
Answer Cash bonus
Question Sequence of operations for a job is clear in case of :-
Answer Job cards.
Question The wages of workers not present at the time of payment
disbursement should be entered into ________.
Answer Undisbursed wage register
Question Wage & salary are also subject to a variety of legislation &
in this context, compliance with existing legislative measure is very
important.
Answer True
Question For the valuation of rent free accommodation, 'Salary'
includes :
Answer D A , Bonus , Education Allowance
Bonus to top management Overall corporate results Overall corporate
results

Time' incentive plan Delays in work are frequent Delays in work are
frequent

Output' Incentive plan Units of output are measurable Units of output are
measurable

Commission' to salesmen Unsupervised nature of job Unsupervised nature
of job



Select The Blank
Question In the history of Indian IT industry, the year 2001-2002
will be remembered as ________.
Answer Year of lay-offs
Question Basic compensation systems are :-
Answer Time rate system , Piece rate system
Question Dotcom companies were founded to go beyond :-
Answer Physical business
Question From economic and ________ point of view woman was subject
to man.
Answer Social
Question In effective incentive plan, standards on which plan is
based should be :-
Answer Fair , Reasonable , Specific
Question The cost of living pay criterion is usually regarded as an
automatic minimum equity pay criterion
Answer True
Question E.S.I. Act aims at providing for certain cash benefits to
employees in case of :-
Answer Sickness , Maternity , Medical
Question Wages have at least ________ connotations from stand points
of employers and employees.
Answer 2

Psychological & social factor Determines how hard a person will work for
compensation received Determines how hard a person will work for
compensation received

Trade union bargaining power Affect rate of wages Affect rate of wages

Job requirement The more difficult a job, the higher the wages The more
difficult a job, the higher the wages

Managerial attitudes Decisive influence on the wage structure
Decisive influence on the wage structure



Multiple Choice Single Answer
Question Rate range can be developed in many ways, one usually
adopted is :-
Answer Wage curve
Question Earning in time rate systems, at ordinary levels is
calculated by formula :-
Answer Rate per hour x hours worked
Question Remuneration paid for the service of the labour in
production is :-
Answer Wage
Question Contribution to the P.F. have to be remitted along with the
challan for Account No.:-
Answer 2 , 21 , 10
Question Payment is done on the basis of units of output, incase of
________ workers.
Answer Piece
Question Differential piece rate system is suitable where :-
Answer Fixed costs are higher in proportion to veriable cost , It
is possible to count production accurately , There are standardised methods
of production
Question Cost of time spent on conducting interviews & selecting a
candidate for ________ is called Replacement cost.
Answer Replacement
Question Direct labour cost varies in proportion to output of
production.
Answer False
Question Group incentive system is more widely prevalent in the
Indian industry than the system of individual incentive.
Answer True
True/False
Question The management must concentrate on creating proper
industrial relations climate before introducing incentive schemes.
Answer True
Question Time booking on job helps for :-
Answer Estimating labour cost.
Question ________ is the unique code allotted to each & every
employee in the organization.
Answer Employee No.
Question Monetary incentive plans result in :-
Answer Greater output per man-hour , Lower unit cost , Higher wages

Question First to lay down the guidelines for fixation of Minimum
Wages was :-
Answer Indian Labour Conference
Question At germination stage, to attract and retain talent, dotcom
companies offer :
Answer Stock option
Question Payment is done on the basis of units of output, incase of
________ workers.
Answer Piece
Question In Payroll process, Cost of Living Index provides the basis
for calculating :-
Answer D.A.
Question Following are causes of idle time of labour pertaining to
production,
Answer Failure of electricity. , Seasonal nature of demand. ,
Breakdown of machinery
Question Usually multinational companies ay higher than small scale
industry.
Answer True
Question When a dotcom company starts earning profits, promoters are
focused on the launch of:-
Answer IPO
Question Correct 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 :-
Answer Agreement is voluntary , Payment may be in cash / stock of
future credits , Computation on the basis of some agreed formula
Question Any imbalance in input-output relation in any incentive
payment scheme can result in :-
Answer Tension , Lower productivity , More absenteeism
Question A worker produces 50 units a week of 06 days and piece rate
is Rs.2/- per piece. Then his earning will be :-
Answer Rs.100/-
Question ________ are also aid to executives a certain percentage of
the profits.
Answer Bonuses
Question Education expenses on employee's family members paid or
reimbursed by the employer are not taxable.
Answer False
Question In post IPO stage, dotcom company gives its employees :-
Answer Balanced total reward package
Question Payment to out workers is done on ________ basis.
Answer Monthly
Question Following are causes of idle time of labour pertaining to
administration :-
Answer Poor management , Management policy
Question In recent times, in addition to stock options, employees of
dotcom companies are demanding :-
Answer Cash bonus
Elements of good Wage Plan Two

Remuneration Employees

Wage Differentials Three categories

Mathematical tables Calculations

Question The scanlon plan of profit sharing gives utmost importance
to ________.
Answer Employee participation
Question Apart from salaries, IT employees are giving importance to
:-
Answer Company image , Job content , Job security
Question Article 43 reads: State shall endeavour to secure by
suitable legislation to all :-
Answer Agricultural workers , Industrial , Working in a living wage

Question The cost of time lost in setting a machine is treated as
indirect cost.
Answer False
Question The contemporary practice for enhancing organizational
growth involves focuses on internal and external factors such as :-
Answer Customer needs , Market trends , Costs
Question Wage differentials have a great ________ and social
significance.
Answer Economic
Question ________ is a source document for preparation of wage sheet.
Answer Attendance Register
Question In addition to the result of job analysis and wage survey
several other variables have to be given due consideration in establishing
:-
Answer Wage structure
Question Wage differentials have been classified into ________
categories.
Answer 3
Question Individuals from various level of the organisation have
different :-
Answer Life Style
Question ________ are assured of a stable amount of money.
Answer Employees
Question ________ provides benefits at the time of retirement/ death
/ following disability of worker.
Answer Deferred plan
Question Demand for a particular skill is high and supply is low,
compensation given is:-
Answer High
Question Employee's State Insurance Act, ________ is a pioneering
measure in the field of social insurance of our country.
Answer 1948
Question Bonus, as the incentive to managers is determined :-
Answer By formula , By discretion used in allocation of bonus
Question In developmental phase, the dotcom companies concentrate on
:-
Answer Building brand
Question Following are the forms of the cost of replacement :-
Answer Cost of advertisement for recruitment , Cost of conducting
interviews , Cost of interruption in production
Question Any other amenity or service excluded from the computation
of wages by a general or special order of appropriate Govt.
Answer False
Question Minimum wages are not to be fixed in an industry which
employs less then how many employees in the entire state?
Answer 1000
Question Remuneration paid for the service of the labour in
production is :-
Answer Wage
Question Profit sharing plans can be on :-
Answer Industry basis , Locality basis , Unit basis
Question Provident Funds can be of the following types :-
Answer Statutory Provident Fund , Recognised Provident Fund ,
Public Provident Fund
Question Direct labour cost varies in proportion to output of
production.
Answer False
Question Components of deductions in salary are :-
Answer E.S.I. , Housing loan installment.
Question Payment is done on the basis of units of output, incase of
________ workers.
Answer Piece

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