Name: ___________________________________________ Date: ______________________

Yr Level/ Course: __________________________________ Score: _____________________

I. Multiple Choice: Read carefully and encircle the letter of the correct answer. (40pts)

1. Kind of cost that can be conveniently and economically traced to a cost object.

a. Indirect Costs b. Direct Materials c. Direct Costs d. Variable Cost

2. It is the process of seeking and attracting a pool of applicants from which qualified candidates for job
vacancies within an organization can be selected.

a. Employee recruitment b. Work-in-Process c. Principles of HR d. Training

3. The resource that lies within employees and how they are organized is critical to strategic and competitive
advantage.

a. Human Resource b. Training and Development c. Capital d. Mentoring

4. Effect that fixed costs have on changes in operating income as changes occur in units sold, expressed as
changes in contribution margin.

a. Effects of Sales-Mix b. Breakeven Point c. Quality d. Operating Leverage

5. It is sacrificed resource to achieve a specific objective.

a. Cost Object b. Cost c. Actual Cost d. Budgeted Cost

6. Explore in detail the role and contribution of the human resources management function in the
development of strategy.

a. Reward System b. Human Resources Analysis c. Coaching d. HRM Activity

7. Used to support the processes of reviewing established or emerging practices.

a. Coaching b. Mentoring c. Contribution Margin d. Industrial Relations

8. Remain unchanged in total regardless of changes in the related level of activity or volume.

a. Variable Costs b. Fixed Costs c. Direct Costs d. Indirect Costs

9. Contribution Margin per unit equals unit selling price less variable cost per unit.

a. CM = CMu . Q b. CM = S – VC c. CMu = SP – VCu d. CMR = CMu /SP

10. The process of attracting, developing and maintaining a talented and energetic workforce to support
organizational mission, objectives and strategies.

a. Orientation b. Health and Safety c. Selection d. Human Resource

11. This asset is invisible, difficult to quantify, must be developed over time, appreciate with purposeful use.

a. Loyalty b. Buildings c. Business Processes d. Intangible Asset

12. A collection of characteristics that enables someone to successfully complete a given task.

a. Skills b. Competencies c. Self-concept d. Knowledge

13. An organization consists of the people who work for it and on whom the success of the business people.

a. Employees b. Members of the Board c. Human Capital d. All of the Above

14. High degrees of expertise, education or experience and the primary purpose of their jobs involves the
creation, distribution of application of knowledge.

a. Knowledge Workers b. Managers c. Knowledge Economy d. Supervisors

15. Supporting practitioners whilst they make a significant career transition.

a. Reward and Recognition System b. Incentives c. Training d. Mentoring

16. Encompasses all jobs, companies and industries in which the knowledge and capabilities of people, rather
than the capabilities of machines or technologies, determines competitive advantage.

a. Quality Work of Life b. Knowledge Economy c. Product Change d. Problem Solving

17. A predicted cost.

a. Cost Management b. Actual Cost c. Budgeted Cost d. Cost Object

18. Products started but not yet completed.

a. Work-in-Process b. Direct Materials c. Production d. Finished Goods

19. Cannot be conveniently or economically traced to a cost object.

a. Direct Costs b. Profit c. Indirect Costs d. Direct Labor

20. Determining the how well employees are doing their jobs and establishing a plan for performance
improvement.

a. Employment Planning b. Performance Appraisal c. Development d. Employee Motivation

21. Which does not belong to the Principles of HRM?

a. Strategic Integration b. Quality c. Commitment d. None of the Above

22. Changes in total in proportion to changes in the related level of activity or volume.

a. Variable Costs b. Profit c. CVP Analysis d. Indirect Manufacturing

23. Defines specific tasks and responsibilities and identifies the abilities, skills and qualifications needed to
perform it successfully.

a. Employee Selection b. Job Analysis c. Job Description d. Services

24. Which is a type of Product Costs?

a. Contribution Margin b. Fixed Costs c. Finished Goods d. Quality

25. Improving the knowledge, skills and attitude of employees for the short-term, particular to a specific job
or tasks.

a. Development b. Orientation c. Seminar d. Training

26. Type of HRM activities that help employees learn how to perform their jobs, improve their performance
and prepare themselves for more senior positions.

a. Strategic Planning b. Training and Development c. Quality d. Social Capital

27. It is the process by which an organization attempts to ensure that it has the right number of qualified
people in the right jobs at the right time.

a. Employment Planning b. Organization Change c. Problem Solving c. Cost

28. It is preparing for future responsibilities, while increasing the capacity to perform at a current job.

a. Human Capital b. Orientation c. Development d. Management

29. A cost that has occurred.

a. Cost Object b. Actual Cost c. Budgeted Cost d. Project Cost

30. Type of HRM activity that is vital to the success of any organization.

a. Incentives b. Commitment c. Quality d. Employee Motivation

31. A set of systematic and planned activities designed by an organization to provide its members with the
necessary skills to meet current and future job demands.

a. Cost Planning b. Human Resource Development c. Planning d. Social Capital

32. Properties of the firm are visible and quantified, can be easily duplicated, depreciate with use.

a. Tangible Assests b. Intangible Assets c. Firm Capital d. Human Capital

33. Anything of interest for which a cost is desired.

a. Cost Object b. Cost Management c. Cost Estimating d. Cost Control

34. Method of cost accounting that looks at the impact that varying levels of costs and volume have an
operating profit.

a. Contribution Margin b. Ratio c. Cost d. Cost-Volume-Profit (CVP) Analysis

35. Treat all labour management processes in a strategic fashion by integrating with the broader business.

a. Workplace Culture b. Strategic Direction c. Strategic Integration d. HRM function

36. Knowledge and knowing capability of social collectives.

a. Orientation b. Intellectual Capital c. HRM Metrics d. Training

37. A system of management which is the single most powerful strategy used to promote performance and
positive behaviors.

a. Reward and Recognition b. Monetary Value c. Promotion d. Demotion

38. An HRM principle which management should have highly skilled knowledge workers with full time jobs.

a. Work Quality b. Full-Time Employee c. Organizational Flexibility d. Consultant

39. Involves choosing from the available candidates the individual predicted to be most likely to perform
successfully in the job.

a. Employee Recruitment b. Job Fair c. Job Interview d. Employee Selection

40. HRM Activity which benefit both employees by identifying employee career goals, possible future
opportunities, personal improvement requirement and by ensuring that qualified employees are available
when needed.

a. Development b. Career Planning and Development c. Employee Relations d. Motivation

II. Enumeration. (10pts)

1. What are the 4 Principles of HRM?

2. What are the 3 Types of Inventories?
3. What are the 3 Types of Product Cost?