1.

when principles and practice of management are applied to pharmaceutical industry, it

becomes management.
Answer. Pharmaceutical

2. There are three levels of management, top, middle and

Answer. Lower

3. level management of a company consists of the Board of Director and

Managing Director
Answer. Top

4. is defined as the art of getting things done through others.

Answer. Management

5. Functions of management consists of , organizing, staffing, directing,

controlling.
Answer. Planning

6. involves broad policy making and management involves the execution of

policies laid down by administration.
Answer. Administration

7. The term is often associated with government policies, public sector and
non-business organization
Answer. Administration

8. The functions of a business such as production, finance, marketing, personnel,

purchasing are known as functions
Answer. Operative

9. is concerned with managerial functions related to the design of the

production system and operation and control of the production system.
Answer. Production Management

10. is concerned with managerial activities related to procurement and

utilization of funds for business purposes.
Answer. Financial Management

11. management deals with planning, organizing, directing and controlling

the activities relating to the marketing of goods and services to satisfy the customer’s
needs.
Answer. Marketing Management
12. deals with planning, organizing, directing and controlling the personnel
functions of the enterprise.
Answer. Personnel Management

13. One of the objectives of management is procurement of the right types of

materials of right quality in right quantity.
Answer. Purchasing and material

14. An individual who starts , creates and manages a new business can be called as .
Answer. Entrepreneur.

15. Innovation can be best defined as .

Answer. Successful exploitation of new ideas

16. The use of informal networks by entrepreneur to gather information is known as

.
Answer. Entrepreneurial Networking

17. Deciding policies, procedures, objectives of an organization is the function of

management.
Answer. Planning

18. Instructing and ordering employees is the function of management.

Answer. Directing

19. Establishing authority responsibility relationship between superior and subordinate is

the function of management.
Answer. Organizing

20. The level of management engaged in introducing new products.

Answer. Top level

21. coordination is considered as .

Answer. The essence of management

22. Is the process by which a manager synchronises the activities of

different departments.
Answer. Coordination

23. aspect of management binds all the functions of management.

Answer. coordination

24. Fayol’s contribution was development of principles of general

management.
Answer. 14
25. Taylor’s main contribution was development of scientific techniques and
principles.
Answer. scientific

26. Taylor’s techniques and principles are concerned with efficiency. Fayol’s
principles are concerned with efficiency.
Answer. workers, management

27. -means inducing people to perform to their best ability for achievement of
organisational goal.
Answer. Motivation

28. is a process of influencing the behaviour of people at work towards the

realisation of specific goals.
Answer. Leadership

29. Informal communication is also known as because the origin and direction
of flow of information cannot be known.
Answer. Grapevine

30. Official communication which takes place following the chain of command is known as
.
Answer. formal communication

31. needs include basic requirements for survival and maintenance of

human life.
Answer. physiological needs

32. Leadership style can be classified into three broad categories , ,

.
Answer. Authoritative, democratic, laissez faire

33. Can be defined as transmission or exchange of ideas, views, message,

information, or instructions between two or more persons by different means.
Answer.Communication

34. refers to converting the encoded message into language and

understanding the message.
Answer. decoding

35. The need in which employees’ desires affection, companionship, friendliness is known as
need.
Answer. social

36. The communication barrier in which a message is decoded differently by different

people is known as barrier.
Answer. Semantic
37. The motivation theory which classifies needs in hierarchal order is developed by
.
Answer. Abraham Maslow

38. The highest-level need in the need hierarchy of Abraham Maslow is

need.
Answer. self-actualisation

39. The process of converting the message into communication symbol is known as
.
Answer. Encoding

40. For delegation to be effective it is essential that response be accompanied with

necessary .
Answer. Authority

41. There are three elements of delegation , ,

Answer. responsibility ,authority, accountability.

42. Authority is , responsibility is , accountability

is .
Answer. Delegated, assumed, imposed

43. The decisions which are of routine and repetitive nature is known as
decisions.
Answer. programmed

44. The amount invested by the proprietor in a business is called .

Answer. Capital

45. A person who owes money to a firm is called a .

Answer. debtor

46. A person to whom money is owed by a firm is called a .

Answer. creditor

47. Goods taken by the owner for personal use is called .

Answer. drawings

48. In every transaction, at least parties are involved.

Answer. 2

49. Accounting measures the business transactions in terms of units.

Answer.monetary
50. Transaction between owner and business are recorded due to
assumption.
Answer.business entity

51. Going concern concept assumes the business will be carried on for
period .
Answer. Indefinite\foreseeable

52. The principle requires that the same accounting method should be used
from one accounting period to next.
Answer. consistency

53. The left-hand side of an account is known as and the right hand side as
.
Answer. Debit, credit

54. Recording of transactions in the journal is called .

Answer. journalising

55. A ledger is a book of

Answer. secondary entry

56. The petty cashier generally work on the system.

Answer. imprest

57. The purchase book is kept to record .

Answer. All credit purchase of goods only

58. When a firm maintains a cash book, it need not maintain .

Answer. cash account in the ledger

59. The process of transferring entries from books of original entry to the ledger is called
.
Answer. Posting

60. In accounting equation, Assets= + Capital .

Answer. Liabilities

61. A balance sheet is a statement of and of a business

enterprise as on a given .
Answer. assets, liabilities, date

62. Profit and loss account reveals the and or incurred by

a firm using the during the .
Answer. Net profit, net loss, accounting period

63. Financial statements include both the and

Answer. balance sheet and profit and loss

64. A statement which is prepared on a particular day to reconcile the bank balance as per
cashbook with the balance as per bank passbook is known as statement.
Answer. Bank reconciliation

65. A statement prepared with the debit and credit balance of the ledger account is known
as .
Answer.trial balance

66. A written instrument directing a person to pay the amount specified in the bill or to the
order of specified person or bearer of this instrument is known as .
Answer. bill of exchange

67. An economy exist because of two facts i.e, human wants are and resources
are
Answer. unlimited, scarce

68. Law of states that the amount demanded increases with a fall in price
and diminishes with a rise in price.
Answer. demand

69. When a consumer buys a good, the utility derived from it varies with its quantity, and
generates three concepts, namely , , .
Answer. total utility, average utility, marginal utility

70. The additional benefit which a person derives from a given increase in his stock of a
thing diminishes with every increase in the stock that he already has is known as law of
.
Answer. diminishing marginal utility

71. A curve showing relationship between the quantity supplied of a commodity by the
Producer at alternative prices is known as .
Answer. supply curve

72. A curve showing the relationship between the quantities of a good which consumers
would be willing to purchase at alternative prices is known as .
Answer.Demand curve

73. Imports and exports are regulated by the .

Answer. foreign trade [ development and regulation] act, 1992

74. Every business must obtain number from regional joint DGFT [ Director General
Foreign Trade].
Answer. Import export code [IEC]
75.An exporter is required to register with the certifying that the goods are
originated in India.
Answer.Indian chamber of commerce.

76. The Foreign trade policy 2015 – 2020 mandates the following commercial documents for
carrying out carrying out importing and exporting activities. Bill of landing or airway bill,
commercial invoice cum packing list and .
Answer. Sipping bill or bill of export or bill of entry [ for import

77.The exchange of goods and services between citizens, business firms or government of
different countries are known as .
Answer. foreign trade

78.In business, loss suffered as a result of fire, theft, floods, accident, loss of goods in transit
can be covered through .
Answer.insurance

79. Insurance covers risk of loss due to theft or specified happenings .

Answer. General

80. A retailer deal in pharmaceutical trade is known as or .

Answer. Chemist, pharmacist

81.A retailer is a middleman between and

Answer. Wholesaler, consumer

82.A wholesaler acts as an intermediate between the and .

Answer. manufacturer, retailer

83.The wholesalers and retailers are middlemen

Answer. merchant

84.Functional middlemen are , and .

Answer. commission agents, brokers, auctioneer

85.The broker is called if engaged by seller and is engaged

by buyer.
Answer. selling agent, buying agent

86.A wholesaler deals with items manufactured by a single firm or company is called
.
Answer. stockist

87.Mail order business is .

Answer. retail trade by post

88.Multiple shops deal in .

Answer. Specified same type of goods

89.A Large scale retail store in which there are several departments each selling a particular
type of product is known as .
Answer. Departmental store

90.Sales are the of business.

Answer. Life blood

91.Salesmanship or is the and the most effective technique of

.
Answer. Personal selling, oldest, selling

92.Window display is one of the medium of and .

Answer. advertisement, sales promotion

93.Window display creates a of the retail pharmacy.

Answer. good impression

94.Advertising enables a firm to its reputation by highlighting its

to the public.
Answer.improve, achievements

95.An interview is a dialogue between an or its representatives

and the .
Answer.face to face, employer, candidate

96.Intelligence test is given to estimate of the candidate.

Answer. mental alertness

97.Aptitude test is given to evaluate the capacity of a candidate to learn

Answer. particular skill.

98.Personality test is conducted to find out maturity and of the

candidate .
Answer.emotional balance, temperament

99.Training in an organised activity by which people learn and acquire and

.
Answer. new skill, knowledge

100.To retain good employees and encouraging to work wholeheartedly in an organisation

is paid to them
Answer. Adequate compensation

101.The recruitment which is done in cooperation with placement cell of a college is known
as method of recruitment.
Answer. Direct method

102. is concerned with the transfer of goods from the point of production to
the point of consumption.
Answer. Marketing

103. is an establishment that assumes responsibility for the storage of goods.

Answer. Warehouse

104.To protect the products from deterioration, exposure, pilferage etc during
transportation, storage and use is the function of .
Answer. Packaging

105.Marketing of pharmaceuticals formulations or fine chemicals into the market is known

as .
Answer.Pharmaceutical marketing

106.In ABC analysis, the inventories are categories according to its .

Answer.Consumption

107.A drug store is called as ideal drug store if it’s inventory is .

Answer. At a level between excessive and inadequate

108.For a smooth running of its business, an enterprise should keep neither nor
inventories.
Answer. Excessive, inadequate

109.The items which represent 10% of the total inventory but consume about 70% of the
total budget of inventory are called .
Answer. ‘A’ items

110.In a drug store, the expiry dated drug formulations are called .
Answer.Obsolete Items.

111.Reorder level is fixed between the stock level.

Answer. minimum, maximum

112.The items which become useless due to change in design, product or process are called
items.
Answer. Obsolete

113.The correct quantity to buy the inventory is the quantity at which the
and will be minimum.
Answer. ordering cost, inventory carrying cost

114. Analysis is useful in controlling and maintaining the stock of various types
of formulations of a particular group of drugs.
Answer. VED analysis

115.The technique is used to find out how much quantity of the inventory is
to be ordered.
Answer. EOQ

116.Technique of inventory control which are used: ABC analysis of inventory management
ABC stands for .
Answer. Always Better Control

117.Steps taken to reduce the amount of loss of materials at the time of receiving, storing
and issuing the raw Material is known as .
Answer. material control

118.Fixation of stock levels are mainly of three types. They are ,

, .
Answer. The minimum level , the reorder level and the maximum level

119.Two types of records are generally kept for recording different transactions of
materials. They are , .
Answer. Bin card in stores department, stores ledger in cost office

120.The objective of purchasing is not only to procure the raw material at price
but also to the cost of the final product.
Answer. Lowest, reduce

121.It is the job of to produce insight into the customer’s attitude and
buying behaviour.
Answer. Marketing researcher

122. as the systematic design, collection, analysis and reporting of data and
findings relevant to a specific market situation facing the company.
Answer. Marketing research

123. from the decisions can be a good way of defining problems because the
purpose of research is to generate meaningful information.
Answer. Working backwards

124. is restricted to the study of actual and potential buyers, their location, their
actual and potential volume of purchases and their motives and habits.
Answer.Market research

125. refers to the first and original data collected by the investigator
through interview, mail survey, field survey or any other method.
Answer. Primary data
126. consist of data which have already been collected by some other
institutions or persons and passed through the statistical method at least once.
Answer. Secondary data

127.Survey method uses for the collection of data.

Answer. Questionnaire

128.The sources of primary data include: , , .

Answer. Salesman, dealers, consumers

129.The main sources of secondary data for market research are ,

, , .
Answer. Trade press, trade associations, published surveys, Government and international
publication.

130. means the performance of business activities that direct the flow of goods
and services from producers to consumers.
Answer. Marketing

131.Formulae for calculating EOQ by algebraic formulae .

Answer. EOQ=!!"#
$%

132.Annual usage of material is 1200 units, cost Rs.10 to handle an order for the material.
The price is Rs.1.00 per unit carrying cost of inventory is 24% per year. Then EOQ equals to

Answer. EOQ = 316 units [ Hint : !! ' (!)) '()

(.))').!+
]

133.In ABC analysis, items cover 10% of the total inventory.

Answer.A

134.Inventories be maintained at a level lying between the excessive and the inadequate.
This level is known as the .
Answer. Optimum level of inventory

135. is a written offer to do a work or to provide a material at a given

price within a prescribed period and under specified conditions.
Answer. Tender or a quotation

136. is the process of assigning of code symbol or a number to a particular

material for easy identification.
Answer. Codification

137.The is not a type of flow process chart.

Answer. Method [ hint: material, machine, man are included in flow process chart]
138.VED analysis of inventory management stands for .
Answer. Vital essential desirable

139.In breakeven analysis is the point where fixed cost line and variable
cost line intersect with each other on the volume cost graph.
Answer. Breakeven point

140.Inadequate production capacity ultimately leads to .

Answer. Poor customer service

141.Objective of work study is to improve .

Answer. productivity

142. comprises of the main distribution channel partners the producer, the
wholesaler and retailer who work together as a unified group to serve the customer needs.
Answer. Vertical marketing system[ VMS]

143. Vertical marketing system is divided into three parts , ,

.
Answer. corporate VMS, contractual VMS and administered VMS

144. is a form of distribution channel where in two or more companies at the

same level unrelated to each other come together to gain the economies of scale.
Answer. A horizontal marketing system [HMS]

145. Is a protest of consumers against unfair business practices and

business injustices.
Answer. Consumerism

146.The aim of consumerism is to remove and eliminate those

practises.
Answer. Injustices, unfair marketing

147.The root cause of consumer movement or consumerism is consumer .

Answer. Dissonance

148.The consumer protection act 1986 was enacted for better protection of consumers
interest, it provides effective safeguards to consumers against , ,
and other forms of exploitation.
Answer. Defective goods ,unsatisfactory services, unfair trade practises

149. is also known as business to business marketing, is a branch of

communication and sales that specializes in providing goods and service to other business,
rather than to individual customers.
Answer. Industrial marketing
150.Global marketing is simply selling a product .
Answer. Internationally

151.The marketing mix in global marketing include , ,

, .
Answer. Product, price, placement, promotion

152.The whole process of planning, producing, placing and promoting a company’s product
in a worldwide market is known as .
Answer. Global marketing