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					LIST OF ATTEMPTED QUESTIONS AND ANSWERS



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


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


Select The Blank
Question
Against the past practice of modest gradual increase applicable to all, with only
marginal additional to the ________ performer.
Correct Answer
Good


Multiple Choice Single Answer
Question
Employees in the railways are entitled of payment of wages Act, 1936 who are
drawing wages and salaries below :-
Correct Answer
Rs. 1600/- a month


Multiple Choice Multiple Answer
Question
Due to the paucity of relevant data on wage differentials, it is possible to analyze
in India :-
Correct Answer
Wage structure , Pay structure , Salary structure


Multiple Choice Multiple Answer
Question
Any imbalance in input-output relation in any incentive payment scheme can
result in :-
Correct Answer
Tension , Lower productivity , More absenteeism


Multiple Choice Multiple Answer
Question
In India, Group incentive plans face problems like :-
Correct Answer
High norms of standard work , Illiterate workforce , Numerous slabs in rate
structure


Multiple Choice Single Answer
Question
Differential piece rate system is based on :-
Correct Answer
Dual rates for different efficiency levels


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


Multiple Choice Single Answer
Question
The social structure of individual's life style is evident in the :-
Correct Answer
Urban society


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


Multiple Choice Multiple Answer
Question
Documents useful for the purpose of wage analysis are :-
Correct Answer
Wage sheets , Payroll , Accounting registers
Select The Blank
Question
There are many methods that an alive ________ management can creatively
develop for employees rendered redundant through little forethought.
Correct Answer
HRD


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


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

 Multiple Choice Multiple Answer
Question
In Compensation plans the following are taken into account :-
Correct Answer
Cost of production , Reduction in expenses , Profits made


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


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


Multiple Choice Multiple Answer
Question
Various enactments that are applicable to employees of organization are :-
Correct Answer
Payment of Gratuity Act , Payment of Bonus Act , Employee's Provident Fund &
Misc. Provisions Act

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


Multiple Choice Single Answer
Question
Minimum wages are not to be fixed in an industry which employs less then how
many employees in the entire state?
Correct Answer
1000


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


Multiple Choice Multiple Answer
Question
In Payroll process, a Journal entry is treated as Control entry to :-
Correct Answer
Book deductions effected during the month , Book expenses for the month on
account of payroll , Make remittances to respective authorities


Multiple Choice Single Answer
Question
Co-partnership system tries to :-
Correct Answer
Eliminate friction between capital and labour


True/False
Question
Indirect labour cost forms a part of overheads.
Correct Answer
True
Match The Following
Question
Correct Answer
Your Answer
Top managers
Non-financial benefits
Non-financial benefits
Workers
Piece-rate
Bonus
Salesmen
Commission
Commission
Managers
Bonus
Compensatory day-off

Select The Blank
Question
________ is that portion of Dearness Allowance which Government declares to
be paid for all purposes.
Correct Answer
Dearness Pay


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


Select The Blank
Question
________ is the unique code allotted to each & every employee in the
organization.
Correct Answer
Employee No.


Multiple Choice Multiple Answer
Question
Apart from salaries, IT employees are giving importance to :-
Correct Answer
Job content , Job security , Company image
Multiple Choice Multiple Answer
Question
Major components of compensation :-
Correct Answer
Salary , Basic salary , Consolidated salary


Match The Following
Question
Correct Answer
Your Answer
Under E.S.I., employer's contribution
0.0475
0.0475
Under E.S.I. employee's contribution
0.0175
0.0175
Employee Pension Scheme is 8.33% of
Employer
Employer
Employer & Employee Contribution under E.P.F.
0.12
0.12

Select The Blank
Question
The wages of workers not present at the time of payment disbursement should be
entered into ________.
Correct Answer
Undisbursed wage register


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


Multiple Choice Single Answer
Question
Basic purpose of Wage and Salary administration is to establish and maintain an
equitable :-
Correct Answer
Wage and Salary structure
True/False
Question
Performance standards & norms for incentive payments should be set up high for
better results.
Correct Answer
False


True/False
Question
To maintain best manpower in the organization, Management Incentive Plan
based on the individual performance is necessary.
Correct Answer
True


Multiple Choice Multiple Answer
Question
Salient features of profit-sharing are :-
Correct Answer
Agreement is voluntary , Payment may be in cash / stock of future credits ,
Computation on the basis of some agreed formula


Multiple Choice Multiple Answer
Question
In dotcom companies, there is :-
Correct Answer
Direct interaction with customers and client organizations , Reduction of capital
cost , Huge no of employees

Select The Blank
Question
________ had a decisive influence on the wage structure & wage level.
Correct Answer
Managerial attitude
Your Answer
Market focus

True/False
Question
Wage and salary administration should be controlled by some proper agency.
Correct Answer
True
Your Answer
False
Multiple Choice Single Answer
Question
The human relations are determined by :-
Correct Answer
Human attitudes
Your Answer
Human attitudes

Multiple Choice Single Answer
Question
If the ranking plan is used the grade consists of a specific number of :-
Correct Answer
Ranks
Your Answer
Points

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

True/False
Question
Contribution to the Provident Funds are made at certain rate or certain
percentage of salary of employee, only by the Employer.
Correct Answer
False
Your Answer
False

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

Multiple Choice Single Answer
Question
Time spent by same worker on various jobs is recorded on daily basis in :-
Correct Answer
Daily time sheet.
Your Answer
Job card.
POSTED BY   MINDGRILL   AT   11:11 PM 0 COMMENTS   LINKS TO THIS POST


LABELS: COMPENSATION MANAGEMENT



Compensation Management - 2

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



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


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

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


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


Match The Following
Question
Correct Answer
Your Answer
Merric's multiple piece rate plan
Low piece rate for slow workers and high piece rate for higher production
Payment for time saved
Emerson efficiency plan
Gradual increase in remuneration based on efficiency
Gradual increase in remuneration based on efficiency
Co-partnership system
Sharing profits undertaking
Sharing profits undertaking
Taylor's differential piece-rate plan
No fear of wage cut
Low piece rate for slow workers and high piece rate for higher production

Multiple Choice Single Answer
Question
The expenditure on medical treatment and stay abroad will be exempt only to the
extent permitted by :-
Correct Answer
Reserve Bank of India


Multiple Choice Multiple Answer
Question
Extent of employees turnover depends upon :-
Correct Answer
Type of industry , Male to female ratio , Physical conditions within organisation


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


True/False
Question
Wage & salary are also subject to a variety of legislation & in this context,
compliance with existing legislative measure is very important.
Correct Answer
True


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

Multiple Choice Single Answer
Question
The persons working in multinational companies occupying the higher positions
in hierarchy enjoy :-
Correct Answer
Lavish life-style


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


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

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


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


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


Multiple Choice Single Answer
Question
Travel & Tourism agencies is an example of :-
Correct Answer
Hospitality industries
Multiple Choice Single Answer
Question
In post IPO stage, dotcom company gives its employees :-
Correct Answer
Balanced total reward package


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


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


Multiple Choice Multiple Answer
Question
Salesmen are usually given incentives in the form of sales commission because of
:-
Correct Answer
Unsupervised nature of most sales work , Tradition in the market , Assumption
that incentives are needed to motivate salesman

Multiple Choice Multiple Answer
Question
Following are causes of idle time of labour pertaining to administration :-
Correct Answer
Poor management , Management policy


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


Multiple Choice Multiple Answer
Question
Source documents for preparations of wages are :-
Correct Answer
Daily time sheet , Weekly time sheet. , Attendance register.


Multiple Choice Multiple Answer
Question
Incentive schemes suffer because of :-
Correct Answer
Tendency among workers to sacrifice quality for quantity , Rapid progress in
technology , Disregard for safety regulations by workers


Multiple Choice Multiple Answer
Question
Employees are paid incentives on 'Output' basis if :-
Correct Answer
Units of output can be measured , Direct relationship between employee efforts
and quantity of output , Jobs are standardised


True/False
Question
In piece rate & time rate combination, if payment is calculated on the basis of
piece rate guaranteed and if number of pieces fall below the minimum wages
guaranteed, he is paid by time rate (T).
Correct Answer
True


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

Multiple Choice Single Answer
Question
In metropolitan towns boys and girls are generally marring at the age of :-
Correct Answer
25 to 35


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


Select The Blank
Question
Gross Earnings - Deductions equals ________.
Correct Answer
Net Earnings


Match The Following
Question
Correct Answer
Your Answer
Bonus to top management
Overall corporate results
Overall corporate results
Time' incentive plan
Delays in work are frequent
Unsupervised nature of job
Output' Incentive plan
Units of output are measurable
Units of output are measurable
Commission' to salesmen
Unsupervised nature of job
Group incentive

Multiple Choice Single Answer
Question
If the employment is merely incidental to the exercise of a profession, the gains
from such employment would be :-
Correct Answer
Professional earnings


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


Multiple Choice Multiple Answer
Question
Article 43 reads: State shall endeavour to secure by suitable legislation to all :-
Correct Answer
Agricultural workers , Industrial , Working in a living wage


Select The Blank
Question
________ cost do not vary much in proportion to output or volume of
production.
Correct Answer
Direct Labour


Multiple Choice Multiple Answer
Question
The characteristics of profit sharing plan are :-
Correct Answer
Profits are payable at long intervals , Payments to employees are uncertain ,
Payment is regarded sometimes as windfall gain


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


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

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

Select The Blank
Question
After deducting depreciation and initial or development rebate from profit, we
arrive at ________.
Correct Answer
Surplus profit

True/False
Question
Education expenses on employee's family members paid or reimbursed by the
employer are not taxable.
Correct Answer
False

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


Select The Blank
Question
Employee's State Insurance Act, ________ is a pioneering measure in the field
of social insurance of our country.
Correct Answer
1948


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


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

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

POSTED BY   MINDGRILL   AT   10:47 PM 0 COMMENTS   LINKS TO THIS POST


LABELS: COMPENSATION MANAGEMENT




MONDAY, FEBRUARY 4, 2008
Compensation Management - 1

Select The Blank
Question
________ is that portion of Dearness Allowance which Government declares to
be paid for all purposes.
Correct Answer
Dearness Pay


Multiple Choice Multiple Answer
Question
Differential piece rate system is suitable where :-
Correct Answer
Fixed costs are higher in proportion to veriable cost , It is possible to count
production accurately , There are standardised methods of production


Multiple Choice Multiple Answer
Question
The aim of a wage & salary policy is :-
Correct Answer
To recognize the value of each job , Provide stability in earning


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

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


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

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

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

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


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

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


True/False
Question
Wage & salary are also subject to a variety of legislation & in this context,
compliance with existing legislative measure is very important.
Correct Answer
True


Select The Blank
Question
In Taylor differential piece rate system, high piece rate is applicable if
________.
Correct Answer
Output is above standard
Multiple Choice Single Answer
Question
The expenditure on medical treatment and stay abroad will be exempt only to the
extent permitted by :-
Correct Answer
Reserve Bank of India


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

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


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



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


True/False
Question
Indirect labour cost are distributed on a basis of suitable proportion.
Correct Answer
True
Multiple Choice Multiple Answer
Question
In Compensation plans the following are taken into account :-
Correct Answer
Cost of production , Reduction in expenses , Profits made


Select The Blank
Question
In Gantt task plan of compensation, if output is below standard, then worker gets
payment as per ________.
Correct Answer
Time rate


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


True/False
Question
If an employee pays fees for attending some management course, the fees can be
allowed for deduction from salary income.
Correct Answer
False



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


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


Multiple Choice Multiple Answer
Question
The characteristics of profit sharing plan are :-
Correct Answer
Profits are payable at long intervals , Payments to employees are uncertain ,
Payment is regarded sometimes as windfall gain


Multiple Choice Multiple Answer
Question
Following are the forms of the cost of replacement :-
Correct Answer
Cost of advertisement for recruitment , Cost of conducting interviews , Cost of
interruption in production


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


Multiple Choice Single Answer
Question
Aggregate costs change, if there is change in volume of output in case of :-
Correct Answer
Marginal cost


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


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


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


Multiple Choice Multiple Answer
Question
For adequate and effective internal check on disbursement of wages, these factors
are important :-
Correct Answer
Proper time recording , Proper record of output by workers , Well-defined terms
of remuneration and incentive schemes


Match The Following
Question
Correct Answer
Your Answer
Remuneration
Employees
Managers
Wage Differentials
Three categories
Employees
Mathematical tables
Calculations
Calculations
Elements of good Wage Plan
Two
Three categories

True/False
Question
Any other amenity or service excluded from the computation of wages by a
general or special order of appropriate Govt.
Correct Answer
False

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

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


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


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

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

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

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


Select The Blank
Question
After deducting depreciation and initial or development rebate from profit, we
arrive at ________.
Correct Answer
Surplus profit


Match The Following
Question
Correct Answer
Your Answer
Bonus to top management
Overall corporate results
Overall corporate results
Time' incentive plan
Delays in work are frequent
Technological advancement
Output' Incentive plan
Units of output are measurable
Units of output are measurable
Commission' to salesmen
Unsupervised nature of job
Unsupervised nature of job

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


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

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


True/False
Question
An employee gets deduction to the extent, professional tax paid by him from
income chargeable under 'salaries'.
Correct Answer
True

Multiple Choice Multiple Answer
Question
Following are the forms of the cost of replacement :-
Correct Answer
Cost of advertisement for recruitment , Cost of conducting interviews , Cost of
interruption in production


Multiple Choice Multiple Answer
Question
Cost accounting department analyze payroll for the purpose of revealing :-
Correct Answer
Normal and abnormal idle time , Direct & indirect labour , Variance from
budgeted costs

True/False
Question
With about 2-5 years of experience, an employee can move upto manager level
from executive level in IT industry.
Correct Answer
True

Multiple Choice Multiple Answer
Question
Differential piece rate system is suitable where :-
Correct Answer
Fixed costs are higher in proportion to veriable cost , It is possible to count
production accurately , There are standardised methods of production


Multiple Choice Multiple Answer
Question
Extent of employees turnover depends upon :-
Correct Answer
Type of industry , Male to female ratio , Physical conditions within organisation


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


Multiple Choice Single Answer
Question
The wage structure or grade is comprised of jobs of appropriately equal difficulty
or importance as determined by :-
Correct Answer
Job evaluation



Match The Following
Question
Correct Answer
Your Answer
Cost accounting Dept.
Accumulation & classification all cost data


Personnel Dept.
Selection & training of employees.

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


Engineering Dept.
Preparation of time & motion studies

Multiple Choice Multiple Answer
Question
Salient features of profit-sharing are :-
Correct Answer
Agreement is voluntary , Payment may be in cash / stock of future credits ,
Computation on the basis of some agreed formula

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


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


Multiple Choice Single Answer
Question
Employees in the railways are entitled of payment of wages Act, 1936 who are
drawing wages and salaries below :-
Correct Answer
Rs. 1600/- a month


True/False
Question
Any contribution to pension, provident fund or a scheme of social security etc.
amounts to wages.
Correct Answer
False


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


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


Multiple Choice Multiple Answer
Question
The characteristics of profit sharing plan are :-
Correct Answer
Payments to employees are uncertain , Payment is regarded sometimes as
windfall gain , Profits are payable at long intervals


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


Multiple Choice Multiple Answer
Question
Apart from salaries, IT employees are giving importance to :-
Correct Answer
Job content , Job security , Company image
Select The Blank
Question
From economic and ________ point of view woman was subject to man.
Correct Answer
Social


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


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


Select The Blank
Question
There are many methods that an alive ________ management can creatively
develop for employees rendered redundant through little forethought.
Correct Answer
HRD


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


Multiple Choice Multiple Answer
Question
Level II in junior managers comprises of :-
Correct Answer
Engineers , Officers , Senior Engineers
Multiple Choice Single Answer
Question
Better production planning & control is facilitated through :-
Correct Answer
Job cards.


Select The Blank
Question
Ratio of number of persons over 4 years of service at present to present total
employees is called ________
Correct Answer
Skill dilution index

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


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


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

Match The Following
Question
Correct Answer
Your Answer
Remuneration
Employees
Two
Wage Differentials
Three categories
Employees
Mathematical tables
Calculations
Calculations
Elements of good Wage Plan
Two
Four Categories

Select The Blank
Question
________ is the unique code allotted to each & every employee in the
organization.
Correct Answer
Employee No.


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


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


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


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


Multiple Choice Single Answer
Question
In piece rate and time rate combination system, if piece rate earning constantly
fall below minimum guaranteed payment, labour cost :-
Correct Answer
Increases


True/False
Question
Rate of change in the working force of an organisation during a period of time is
known as employee turnover.
Correct Answer
True


Multiple Choice Single Answer
Question
Reward may be money or promotion, but more likely it will be some pay-off -a
smile, and :-
Correct Answer
Acceptance by peer


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


Select The Blank
Question
________ refers to compensation programmes that allow employees to choose
the type and quantity of reward desired by him during the year.
Correct Answer
Cafeteria style compensation

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


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

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


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


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

Multiple Choice Multiple Answer
Question
To make Scanlon plan successful, there should be :-
Correct Answer
Stable product lines and costs , Strong commitment to plan , Healthy labour
relations

   LIST OF ATTEMPTED QUESTIONS AND ANSWERS

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


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

Multiple Choice Multiple Answer
 Question In effective incentive plan, standards on which
plan is based should be :-
 Correct Answer Fair , Reasonable , Specific


Match The Following
Question Correct Answer Your Answer

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

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

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

Engineering Dept. Preparation of time & motion studies
Preparation of drawings


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

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

 True/False
 Question In industrialization there is not always mass
production.
 Correct Answer False
 Multiple Choice Multiple Answer
 Question Incentive plans fail due to :-
 Correct Answer Unfair standards , Fear of rate cut , Lack
of required tools / training

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

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

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

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

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

 True/False
 Question Compensation policy does not need criteria for
promotions.
 Correct Answer False
 Multiple Choice Multiple Answer
 Question Differential piece rate system is suitable where :-
 Correct Answer Fixed costs are higher in proportion to
veriable cost , It is possible to count production accurately ,
There are standardised methods of production

 Multiple Choice Single Answer
 Question Control of labour cost is essential in every
organisation to :-
 Correct Answer Determine indirect labour cost.

 Multiple Choice Multiple Answer
  Question In India, Group incentive plans face problems
like :-
  Correct Answer Numerous slabs in rate structure , High
norms of standard work , Illiterate workforce

 True/False
 Question If the employee receives conveyance allowance,
or, he is provided with a vehicle by employer, he is not
eligible to get 'Standard deduction' from his salary.
 Correct Answer False

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

Multiple Choice Multiple Answer
Question Employees cost to the company includes :-
Correct Answer Basic wages , Incentives


Select The Blank
 Question Process of readjustment inevitable calls for
changes in the ________ system and its practice.
 Correct Answer Human Resource

Match The Following
Question Correct Answer Your Answer

Idle time due to tea breaks Direct costs

Basic Salary Gross Earning
Professional Tax Deductions
Overtime due to general pressure of work Indirect costs.

True/False
Question Indirect labour cost forms a part of overheads.
Correct Answer True

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

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

Select The Blank
Question Gross Earnings - Deductions equals ________.
Correct Answer Net Earnings

 Multiple Choice Single Answer
  Question When the cost of living increases, workmen and
trade unions demanded to :-
  Correct Answer Increase the wage
Multiple Choice Single Answer
 Question It was commonly believed by Hindus that
marriage was :-
 Correct Answer Necessary

 Multiple Choice Single Answer
 Question If the employment is merely incidental to the
exercise of a profession, the gains from such employment
would be :-
 Correct Answer Professional earnings

 Select The Blank
 Question Factors not related to money can also serve as
________.
 Correct Answer Attention seekers

 Select The Blank
 Question Wage differentials have been classified into
________ categories.
 Correct Answer 3

 Multiple Choice Multiple Answer
 Question Source documents for preparations of wages
are :-
 Correct Answer Daily time sheet , Weekly time sheet. ,
Attendance register.

Select The Blank
 Question ________ is necessary to calculate Dearness
Allowance in Payroll process.
 Correct Answer Cost of Living Index

Multiple Choice Single Answer
 Question In profit-sharing plan, the proportion of profits to
be distributed among the employees is determined :-
 Correct Answer In advance

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

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

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

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

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

 True/False
 Question Accumulated leave pay is treated as Indirect
expenses.
 Correct Answer True

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

 Multiple Choice Multiple Answer
  Question Cost accounting department analyze payroll for
the purpose of revealing :-
  Correct Answer Normal and abnormal idle time , Direct &
indirect labour , Variance from budgeted costs

 Multiple Choice Multiple Answer
 Question The approach of managerial / executive staff
towards the perquisites has changed since last :-
 Correct Answer 10 years , 9 years , 8 years

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

 Select The Blank
 Question A person would readily respond to opportunities
related to jobs if he has strong need for ________.
 Correct Answer Affiliation

 True/False
 Question Halsey Premium plan is a combination of the
day wage & piece wage in modified form.
 Correct Answer True

Multiple Choice Single Answer
Question Production planning includes :-
Correct Answer Product engineering.


Multiple Choice Multiple Answer
Question         Extent of employees turnover depends upon :-

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



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




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




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

Correct Answer False




Multiple Choice Multiple Answer
Question        Forces that favour regional differences are :-

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




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




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

Top managers                 Non-financial benefits

Workers                      Piece-rate

Salesmen                     Commission

Managers                     Bonus


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

Correct Answer Employee participation




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




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




Multiple Choice Multiple Answer
Question        Group incentive plans may not become successful due to :-

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



True/False
Question         Bonus is component of deductions.

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




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

Correct Answer Indirect labour




Multiple Choice Multiple Answer
Question        Major features of production are :-

Correct Answer Labour , Land , Capital




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




Multiple Choice Multiple Answer
Question        Incentive plans fail due to :-

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




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

Correct Answer Abolish malpractices , Abuse in wage payment , Promote Trade Union




Select The Blank
Question       Persons interested in enhancing their reputations and receiving recognition
               may respond to ________.
Correct Answer Verbal praise
Multiple Choice Multiple Answer
Question        Profit sharing, as an incentive plan, realizes these advantages :-

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




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

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




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

Correct Answer Society




Multiple Choice Single Answer
Question        Hospitality industries includes :-

Correct Answer Hotels




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

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



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




True/False
Question         Indirect labour cost forms a part of overheads.
Correct Answer True




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

Correct Answer False




Multiple Choice Single Answer
Question        Perquisites taxable in all cases include :-

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




Multiple Choice Multiple Answer
Question        A good incentive scheme should have :-

Correct Answer Elasticity , Parity , Less operational costs




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




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

Correct Answer Direct Expenses




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




Multiple Choice Single Answer
Question       One worker is working under piece rate & time rate combination system of
               compensation. He has worked in a week of 06 days consisting of 48 hours.
               His hourly rate is Rs.2/- per piece. His output for the week is 40 units.
               What will be his earning ?
Correct Answer Rs.96/-




Multiple Choice Multiple Answer
Question        Wage differentials are of following factors :-

Correct Answer Difference in labour efficiency , Social esteem , Occupation




Multiple Choice Single Answer
Question        Monetary incentives imply :-

Correct Answer External motivation




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

Correct Answer Wage sheets , Payroll , Accounting registers




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

Correct Answer Standard costing




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




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

Correct Answer Relative
Multiple Choice Single Answer
Question        Wage Policy is of great concern to :-

Correct Answer Labour Management & Govt.




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




Match The Following
Question                      Correct Answer                 Your Answer

Institutions of marriages &   Society
family
Past Marriages                Permanent


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

Correct Answer False




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




Select The Blank
Question       During the research it was found that in certain cities prevailing wage rate
               are ________where as organizational ability to pay is more.
Correct Answer Very low
Select The Blank
Question       In the history of Indian IT industry, the year 2001-2002 will be remembered
               as ________.
Correct Answer Year of lay-offs

				
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