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Management Sciences 5307 MCQs [All-Courses]

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Management Sciences focuses on the planning, organizing, leading, and controlling of resources to achieve organizational goals.This subject is highly important for competitive exams, academic study, and professional careers in the business and public sectors.

All Topics  5307

If the relevant incremental costs are $5000 and the relevant opportunity cost of invested capital is $2500, then the relevant inventory carrying costs would be ____________?
A $7,500
B $7,000
C $6,500
D $6,000
Correct Answer: $7,500
The second step in decision making process is ___________?
A multi-collinearity information
B quantitative information
C qualitative analysis
D obtaining information
Correct Answer: obtaining information
The number of purchase orders for each year is multiplied to relevant ordering cost for each purchase order to calculate _____________?
A annual irrelevant ordering costs
B annual relevant carrying costs
C annual relevant ordering costs
D annual irrelevant carrying costs
Correct Answer: annual relevant ordering costs
The type of outcomes that can be measured in numerical terms are classified as ___________?
A qualitative factors
B quantitative factors
C expected factors
D recorded factors
Correct Answer: quantitative factors
The method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as __________?
A economic accounting
B back-flush accounting
C lean accounting
D lead accounting
Correct Answer: lean accounting
The cost such as dispose value of an old machine is $6000 is classified as _____________?
A irrelevant
B depreciated cost
C salvages
D relevant
Correct Answer: relevant
If the purchase order lead time is 35 minutes and number of units sold per time is 400 units, then reorder point will be ____________?
A 14000 units
B 14500 units
C 15000 units
D 15500 units
Correct Answer: 14000 units
The decisions made by company, which products to manufacture and sell and in what quantities, of many product lines are called ____________?
A incremental decisions
B outsource decisions
C product mix decisions
D in-source decisions
Correct Answer: product mix decisions
The costs of issuing purchase orders, making of delivery records for tracking payments and costs of inspection of items are classified as _____________?
A stock-out costs
B ordering costs
C carrying costs
D purchasing costs
Correct Answer: ordering costs
The formal method of making choices, considering help of quantitative and qualitative analysis is classified as ____________?
A quantitative analysis
B decision method
C qualitative method
D linearity method
Correct Answer: decision method
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