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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.

The difference of cost, which occurs while considering the alternatives can be classified as ___________?

A dependent cost

B independent cost

C incremental cost

D differential cost

Review Detailed Answer

Correct Answer: differential cost

The decision model to calculate optimal quantity of inventory to be ordered is called ____________?

A efficient order quantity

B economic order quantity

C rational order quantity

D optimized order quantity

Review Detailed Answer

Correct Answer: economic order quantity

The financial factors measured in numerical terms, having some monetary value are considered as ___________?

A qualitative factors

B quantitative factors

C expected factors

D recorded factors

Review Detailed Answer

Correct Answer: quantitative factors

If the economic order quantity for one year is 15000 packages and demand in units for one year are 1500 units, then number of deliveries in a year will be ____________?

A 16

B 12

C 10

D 14

Review Detailed Answer

Correct Answer: 10

An example of quantitative factor is ____________?

A employee behavior at workplace

B employee satisfaction

C employee morale

D cost of materials

Review Detailed Answer

Correct Answer: cost of materials

A push through system, according to which goods are manufactured for finished inventory solely, on the basis of forecasted demand can be classified as ___________?

A in-time production

B materials requirement planning

C on-time production

D pull strategy of production

Review Detailed Answer

Correct Answer: materials requirement planning

The decisions made by team of individuals or single person, whether to outsource the products or in-source are classified as __________?

A demand or supply decisions

B make or buy decisions

C relevant or irrelevant decision

D idle or busy decisions

Review Detailed Answer

Correct Answer: make or buy decisions

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

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

The difference of cost, which occurs while considering the alternatives can be classified as ___________?

The decision model to calculate optimal quantity of inventory to be ordered is called ____________?

The financial factors measured in numerical terms, having some monetary value are considered as ___________?

If the economic order quantity for one year is 15000 packages and demand in units for one year are 1500 units, then number of deliveries in a year will be ____________?

An example of quantitative factor is ____________?

A push through system, according to which goods are manufactured for finished inventory solely, on the basis of forecasted demand can be classified as ___________?

The decisions made by team of individuals or single person, whether to outsource the products or in-source are classified as __________?

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 _____________?