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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

Buying of goods or services from suppliers or vendors of some other country instead of local supplier is classified as _________?
A outsourcing
B insourcing
C idle sourcing
D sunk sourcing
Correct Answer: outsourcing
The activities related to coordinating, controlling and planning flow of inventory are classified as ___________?
A decisional management
B throughput management
C inventory management
D manufacturing management
Correct Answer: inventory management
In relevance concepts, the relevant revenues are also termed as ___________?
A parallel revenues
B abnormal revenues
C expected future revenues
D serial revenues
Correct Answer: expected future revenues
The costs of goods acquired from suppliers are classified as ___________?
A stock-out costs
B ordering costs
C carrying costs
D purchasing costs
Correct Answer: purchasing costs
The costs that are unavoidable and remain unchanged no matter what done are classified as
A sunk costs
B bunked costs
C unrecorded costs
D recorded costs
Correct Answer: sunk costs
The profit forgone by capital investment in inventory rather than investment of capital to somewhere else is classified as ____________?
A relevant purchase order costs
B relevant inventory carrying costs
C irrelevant inventory carrying costs
D relevant opportunity cost of capital
Correct Answer: relevant opportunity cost of capital
An amount of additional cost incurred for any particular activity is classified as ____________?
A incremental cost
B differential cost
C dependent cost
D independent cost
Correct Answer: incremental cost
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
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