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Management Sciences 5307 MCQs [All-Courses]

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.

An example of shrinkage costs is _____________?

A incoming freight

B storage costs

C insurance

D clerical errors

Review Detailed Answer

Correct Answer: clerical errors

The third step in decision making process is ____________?

A linear predictions

B dependent predictions

C making predictions

D independent predictions

Review Detailed Answer

Correct Answer: making predictions

If the relevant opportunity cost of capital is $2950 and the relevant carrying cost of inventory is $6700, then the relevant incremental cost will be _____________?

A $9,650

B $2,350

C $3,750

D $2,750

Review Detailed Answer

Correct Answer: $3,750

The kind of costs that has been occurred in past are also known as __________?

A unrecorded costs

B recorded costs

C sunk costs

D bunked costs

Review Detailed Answer

Correct Answer: sunk costs

The costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as ___________?

A carrying costs

B purchasing costs

C stock-out costs

D ordering costs

Review Detailed Answer

Correct Answer: carrying costs

An investment of money in idle inventory, in place of investing the same amount of money somewhere else is an example of ___________?

A offshore cost

B outsource cost

C in-source cost

D opportunity cost

Review Detailed Answer

Correct Answer: opportunity cost

An ability of an accounting system, to point out the use of resources in every step of production process is called ___________?

A back-flush trails

B audit trails

C trigger trails

D lead manufacturing trails

Review Detailed Answer

Correct Answer: audit trails

In broader categories, the outcomes of decisions are classified as __________?

A sunk factors

B quantitative factors

C qualitative factors

D both B and C

Review Detailed Answer

Correct Answer: both B and C

If the cost per unit is $70 and the total number of units manufactured in company are 6000, then the total manufacturing cost would be _____________?

A $240,000.00

B $320,000

C $210,000

D $420,000

Review Detailed Answer

Correct Answer: $420,000

The first step in decision making process is to ___________?

A identify the problem

B identify the linear variable

C identify the certainty

D identify the multiplier

Review Detailed Answer

Correct Answer: identify the problem

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

An example of shrinkage costs is _____________?

The third step in decision making process is ____________?

If the relevant opportunity cost of capital is $2950 and the relevant carrying cost of inventory is $6700, then the relevant incremental cost will be _____________?

The kind of costs that has been occurred in past are also known as __________?

The costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as ___________?

An investment of money in idle inventory, in place of investing the same amount of money somewhere else is an example of ___________?

An ability of an accounting system, to point out the use of resources in every step of production process is called ___________?

In broader categories, the outcomes of decisions are classified as __________?

If the cost per unit is $70 and the total number of units manufactured in company are 6000, then the total manufacturing cost would be _____________?

The first step in decision making process is to ___________?