Drug Store And Business Management

Name: _____________________

Date: _____________________

Instructions: Answer all questions. Write your answers clearly in the space provided.

Question 1:

The price which the buyer is willing to pay for the goods being auctioned:

A. Bid
B. Commission
C. Percentage
D. None
Answer: _________
Question 2:

The latest development in the field of budgeting is

A. Zero base budgeting
B. Flexible Budgeting
C. Five year Budgeting
D. Managerial Budgeting
Answer: _________
Question 3:

At the time of budgeting process, the philosophies of the institutions are taken into account which includes

A. The aims of the hospital
B. The growth of the hospital
C. The goodwill of the hospital
D. Both A and B
Answer: _________
Question 4:

The minimum number of directors in a private limited company is

A. 5
B. 4
C. 2
D. 3
Answer: _________
Question 5:

Promotion is a . . . . . . . . source Recruitment

A. Suitable
B. Higher
C. External
D. Internal
Answer: _________
Question 6:

License required to open a new retail drug store is issued by a

A. Drug inspector
B. Drug controller
C. Government analyst
D. State pharmacy council
Answer: _________
Question 7:

Management is . . . . . . . . of securing maximum results with minimum efforts to secure maximum prosperity and happiness to both for employer, employees and provide best service to the public.

A. Art
B. Art and Science
C. Science
D. Task
Answer: _________
Question 8:

Examples of pharmaceutical consumer goods

A. Tablets
B. Injections
C. Syrups
D. All the above
Answer: _________
Question 9:

Who perform the functions of warehousing, grading and packing?

A. Auctioneers
B. Delcreder agent
C. Commission agent
D. Brokers
Answer: _________
Question 10:

"Balance c/d" at the time of balancing the amount is written on

A. Debit side
B. Credit side
C. Bigger side
D. Shorter side
Answer: _________
Question 11:

After which step of selection process physical and medical examinations are taken.

A. Employment test
B. Final interview
C. Preliminary interview
D. Reference check
Answer: _________
Question 12:

Heavy industries which need . . . . . . . .

A. Big capital
B. Longer production cycle
C. Both A and B
D. None of above
Answer: _________
Question 13:

How much is the duration of training

A. Long term
B. Medium term
C. Short term
D. Any suitable term
Answer: _________
Question 14:

Simplest form of Business organization is

A. Sole proprietorship
B. Joint stock company
C. Co-operative company
D. Partnership
Answer: _________
Question 15:

Budgetary control involves in the following aspects except . . . . . . . .

A. Budgeted figures for definite period of future
B. Comparing actual figures with the budgeted ones
C. Finding out the variances
D. Finding the estimated revenue receipt
Answer: _________
Question 16:

A drugs store opened near traffic light or road circle . . . . . . . .

A. Obstructs the customers to visit the shop
B. As a health hazard
C. Creates parking problem for the customers
D. Leads to accident
Answer: _________
Question 17:

What will be the situation, if one country is doing foreign trade?

A. Get the more profit and availability of all types of goods
B. Mutual dependence and loss during war time
C. Beneficial for Government and Consumer
D. All of above
Answer: _________
Question 18:

A modern drug house should satisfy all the necessities mentioned in the schedule N of Tile Drugs and Cosmetic Rules, . . . . . . . .

A. 1950
B. 1990
C. 1945
D. 1960
Answer: _________
Question 19:

Foreign trade helps in

A. Mutual dependence
B. Elimination of monopolies
C. Exploitation
D. Fear of Dumping
Answer: _________
Question 20:

The qualification for starting a retail sale drug store should be

A. Matriculate
B. 10 + 2
C. Pharmacy from unrecognised institute
D. Registered pharmacist
Answer: _________
Question 21:

Specify the objective of budgetary control:

A. Best use of resources
B. Coordination
C. Remedial measures
D. All of the above
Answer: _________
Question 22:

. . . . . . . . is the companion of a surprising number of sales professionals.

A. Negotiation
B. Desire
C. Pride
D. Fear
Answer: _________
Question 23:

A budget may be defined in the following manner except . . . . . . . .

A. Tool for projecting future values
B. A financial tool which is used for planning
C. A statement for predetermined policies
D. A tool for measuring income
Answer: _________
Question 24:

Wholesalers are persons who deal in

A. Better quality of goods
B. Small quantity of goods
C. Large quantity of goods
D. Large variety of goods
Answer: _________
Question 25:

Current ratio is

A. Balance sheet ratio
B. Profit and loss ratio
C. Combined ratio
D. None of the above
Answer: _________
Question 26:

Heavy machinery is sold to the consumer by

A. Indirect selling
B. Direct selling
C. Functional middlemen
D. Merchant middlemen
Answer: _________
Question 27:

The concept that business enterprise will not be sold liquidated in the near future is known as

A. Accounting period
B. Revenue realization
C. Cost
D. Money measurement
Answer: _________
Question 28:

Country sale its products in abroad is known as

A. International trade
B. Internal trade
C. Export trade
D. Import trade
Answer: _________
Question 29:

Which of the following are 4Ps of marketing?

A. Price, product, promotion and place
B. Process, price, product, promotion
C. Price, product, people and place
D. Price, product, physical evidence and place
Answer: _________
Question 30:

The maximum number of partners allowed in the banking business are:

A. Ten
B. Twenty
C. No limit
D. Two
Answer: _________
Question 31:

. . . . . . . . helps to improve management decision making by providing relevant, accurate and timely information.

A. Advertisements
B. Salesmanship
C. Marketing research
D. Newspapers
Answer: _________
Question 32:

Oldest form of business organisation

A. Sole proprietorship
B. Hindu joint family
C. Partnership
D. All of these
Answer: _________
Question 33:

Pharmaceutical industry is covered under . . . . . . . . industries.

A. Extractive
B. Genetic
C. Construction
D. Manufacturing
Answer: _________
Question 34:

At least 10 adults, no maximum limit in case of . . . . . . . .

A. Joint Hindu Family
B. Partnership
C. Company
D. Cooperative Society
Answer: _________
Question 35:

. . . . . . . . level management frame the policies for the enterprise.

A. Top
B. Middle
C. Lower
D. Upper
Answer: _________
Question 36:

Which of the following is not an advantage of budgetary control?

A. Maximisation of profit
B. Specific aims
C. Reduces costs
D. Interdepartmental conflict
Answer: _________
Question 37:

A method of codification of various items of drug store

A. Alphabetical method
B. Numerical method
C. Mnemonic method
D. All the above
Answer: _________
Question 38:

A type of account relating to losses and incomes is

A. Personal
B. Real
C. Nominal
D. Profit and loss
Answer: _________
Question 39:

How much capital is in small scale industry?

A. 10 lakhs
B. More than 10 lakhs
C. Not more than 10 lakhs
D. 5 lakhs
Answer: _________
Question 40:

Capital expense includes the following Except

A. Fixture
B. Shelving
C. Payroll
D. Computer hardware
Answer: _________
Question 41:

Ranbaxy company is an example of

A. Extractive Industry
B. Genetic Industry
C. Construction Industry
D. Manufacturing Industry
Answer: _________
Question 42:

Minor partner is the partner below the age of

A. 16
B. 20
C. 18
D. 21
Answer: _________
Question 43:

Which of the following is not an inventory?

A. Machines
B. Raw material
C. Finished products
D. Consumable tools
Answer: _________
Question 44:

Which of the following levels of material cautions against stock out

A. Re-ordering level
B. Minimum level
C. Maximum level
D. Average stock level
Answer: _________
Question 45:

The conference board is an organisation for compiling the index of

A. Leading indicators
B. Macroeconomics indicators
C. Market indicators
D. Aggregate indicators
Answer: _________
Question 46:

The art of planning, organising, staffing, motivating & controlling is called

A. Marketing
B. Advertising skill
C. Manufacturing
D. Management
Answer: _________
Question 47:

Percent of share hold by government in government company

A. 20
B. 51
C. 49
D. 99
Answer: _________
Question 48:

Banking institutions are a group of . . . . . . . .

A. Financial market
B. Financial intermediaries
C. Financial investment
D. Financial instruments
Answer: _________
Question 49:

Sales promotion is very important for any product, especially for newly launched and designed product. How it affect the product?

A. Affects the quality of product
B. Affects the quantity of product
C. Affects the image of product
D. Affects the price of product
Answer: _________
Question 50:

In utilization of finance the 'fixed capital' is invested on which of the following?

A. Purchase of raw materials
B. Wages and rent
C. Plant & machinery
D. Taxes & interest
Answer: _________
Question 51:

Which among the following is the ratio of net profit to net sales?

A. Net profit ratio
B. Net Operating ratio
C. Gross profit ratio
D. Pretax Profit ratio
Answer: _________
Question 52:

In a drug store, the expired drug formulation is called . . . . . . . .

A. Scrap items
B. Surplus items
C. Absolute items
D. None of the above
Answer: _________
Question 53:

What type of agreement is used to form a partnership business?

A. Written agreement
B. Oral agreement
C. Written or oral agreement
D. None of the above
Answer: _________
Question 54:

Which of the following contract type should be used by the owner on a high risk project?

A. Cost plus percentage of cost
B. Cost plus incentive fee
C. Lump sum
D. Fixed price plus incentive fee
Answer: _________
Question 55:

Business organization runs as a partnership is called a:

A. Company
B. Industry
C. Firm
D. Partnership
Answer: _________
Question 56:

Trade between the countries is known as

A. Import
B. Foreign trade
C. Export
D. Regional trade
Answer: _________
Question 57:

A very effective, latest and fast growing medium of advertisement is

A. Radio
B. Television
C. Newspapers
D. Magazines
Answer: _________
Question 58:

Which of the following is used for recording for sales of goods on credit?

A. Purchase Journal
B. Sales Journal
C. Sales return Journal
D. None
Answer: _________
Question 59:

The price that equates market supply & market demand is called

A. Market restoring price
B. Market depreciating price
C. Market clearing price
D. Market elastic price
Answer: _________
Question 60:

The maximum number of partners in banking business is:

A. 20
B. 2
C. 115
D. 10
Answer: _________
Question 61:

The perpetual inventory system includes-

A. Bin card
B. Stores ledger
C. Continuous stock taking
D. All of the above
Answer: _________
Question 62:

Objective of trial balance is

A. To help in locating efforts
B. To help in the preparation of final accounts
C. To ascertain the arithmetical of the ledger
D. None
Answer: _________
Question 63:

. . . . . . . . are the life blood of business

A. Promotion
B. Finance
C. Sales
D. Capital
Answer: _________
Question 64:

Which among the following is the objective of the Enterprise Resource Planning system?

A. Balance supply and demand
B. Organise external management information
C. Control the flow of dependent demand inventories
D. Manage purchase order
Answer: _________
Question 65:

The route of drug administration that is considered to provide complete (100%) bio availability is

A. P. O.
B. I. D.
C. I. M.
D. I. V.
Answer: _________
Question 66:

Inventory carrying cost consists of the

A. Ordering cost
B. Inventory carrying cost
C. Both A and B
D. None
Answer: _________
Question 67:

The storage of goods in warehouses is necessary due to following reason

A. Maintain stability in price of goods
B. Remove hindrances of risk of spoilage
C. Increase demand of goods
D. Assists trade by moving goods
Answer: _________
Question 68:

Interest on Capital is . . . . . . . . and interest on Drawings is . . . . . . . . to Profit and Loss Account.

A. Debited, Credited
B. Credited, Debited
C. Debited, Debited
D. Credited, Credited
Answer: _________
Question 69:

Medium term finance valid upto

A. 3 to 5 years
B. Above 10 years
C. Below 3 years
D. 3to 10 years
Answer: _________
Question 70:

CAPM stands for . . . . . . . .

A. Capital Asset Pricing Model
B. Capital Amount Printing Model
C. Capital Asset Printing Model
D. None of the above
Answer: _________
Question 71:

Accounting records of a business enterprise is required by:

A. Managementof the business
B. Outsiders
C. None of these
D. All of the above
Answer: _________
Question 72:

Which provides over draft facilities?

A. Insurance
B. Banking
C. Trade
D. Industry
Answer: _________
Question 73:

Capital expense includes the following except:

A. Fixtures
B. Shelving
C. Pay roll
D. Computer hardware
Answer: _________
Question 74:

Indirect expenses relating to the business are transferred to

A. Trading account
B. Profit and loss account
C. Profit and loss appropriation account
D. Balance sheet
Answer: _________
Question 75:

Given the following are included in top level management except:

A. Hod
B. Managing director
C. Vice chanceller
D. Directors
Answer: _________
Question 76:

The channel involving retailers & wholesalers is

A. The primary channel
B. The secondary channel
C. The typical channel
D. The marketing channel
Answer: _________
Question 77:

A medical store deals only in medicines and is an example of

A. General store
B. Single line store
C. Street stall
D. None
Answer: _________
Question 78:

Accounting records are

A. Financial aspect of business
B. Economic aspect of business
C. Qualitative and quantitative aspect of business
D. All of the above
Answer: _________
Question 79:

Which insurance provides for payment of a stipulated some of money to be insured person on expiry of a specified number of years or on his earlier death is

A. General insurance
B. Marine insurance
C. Fire insurance
D. Life insurance
Answer: _________
Question 80:

The liabilities of Mr. Kumar are Rs. 57,000 and owners equity Rs. 43,000. The assets of business are

A. Rs. 1,00,000
B. Rs. 14,000
C. Rs. 57,000
D. Rs. 43,000
Answer: _________
Question 81:

Hindrances of time are removed by which aids to trade?

A. Insurance
B. Banking
C. Warehousing
D. Packaging
Answer: _________
Question 82:

Credit balance of a ledger account is denoted by

A. Excess of credit side over debit side
B. Excess of debit side over credit side
C. Equally of debit and credit
D. Any of the above
Answer: _________
Question 83:

What do you mean by a mixed economy?

A. Modem and traditional industries
B. Public and private sectors
C. Foreign and domestic investments
D. Commercial and subsistence farming
Answer: _________
Question 84:

Cash book is a subsidary as well as a

A. Memorandum book
B. Secondary book
C. Principal book
D. None of these
Answer: _________
Question 85:

The main object of advertising is

A. Avoid deterioration of product
B. Fill the gap between production and subsequent sale
C. To create, sustain and increase the demand of goods
D. To maintain an adequate reserve of stock
Answer: _________
Question 86:

Different types of economic activities are

A. Economic system and Economics
B. Capitalist and Social System
C. Business, Profession and Employment
D. Mixed Economy
Answer: _________
Question 87:

. . . . . . . . is a flexible programme consisting of six elements that better enable store staff to meet the needs of customers.

A. BCD
B. ACE
C. LME
D. EPS
Answer: _________
Question 88:

Two commonly faced problems in the services business are

A. A and B
B. Lack of training
C. Resistance to selling
D. Making the service tangible
Answer: _________
Question 89:

Scanning for drug process and stock levels would be accomplished with which device?

A. Zip-drive
B. Barcode reader
C. Modem
D. Complier
Answer: _________
Question 90:

If a minor choose to become a partner on attaining the age of majority will be liable for the debts of the firm from the date of his

A. Attaining majority
B. Choice to become partner of the firm
C. Admission to the benefit of partnership
D. None
Answer: _________
Question 91:

Insurance removes the hindrance of

A. Time
B. Finance and credit
C. Risk
D. Place
Answer: _________
Question 92:

Commerce overcome the hindrances of

A. Person, Money, Transport, Time, Knowledge, Damage, Risk of loss
B. Banking and Insurance
C. Trade
D. Economics
Answer: _________
Question 93:

Sales made to Mr. Varma should be debited to

A. Cash account
B. Bani account
C. Bank account
D. All of the above
Answer: _________
Question 94:

The full disclosure principle states:

A. That accounting practices should remain unchanged from one period to another
B. The tendency to maintain a state of affairs without a sudden change
C. That all information significant to the users of financial statements should be disclosed
D. To the relative importance of an item or event
Answer: _________
Question 95:

. . . . . . . . refers to the exchange of goods or commodities against money or service.

A. Distribution
B. Place
C. Sales
D. Myopia
Answer: _________
Question 96:

For which type of account Overdraft facility permitted?

A. Current account
B. Saving account
C. Real account
D. Nominal account
Answer: _________
Question 97:

One of the most important tools of cost planning is . . . . . . . .

A. Budget
B. Direct cost
C. Unit cost
D. Cost sheet
Answer: _________
Question 98:

A partner below the age 18 does not enjoy the rights of full pledged is

A. Nominal partner
B. Secret partner
C. Minor partner
D. Sleeping partner
Answer: _________
Question 99:

Outstanding salaries are shown as . . . . . . . .

A. An expense
B. A liability
C. An asset
D. All of the above
Answer: _________
Question 100:

EOQ means

A. Effective order quantity
B. Economic order quantity
C. Emergency order quantity
D. E-order quantity
Answer: _________

Answer Key

1: A
2: A
3: D
4: C
5: D
6: A
7: B
8: D
9: C
10: D
11: D
12: C
13: D
14: A
15: D
16: A
17: D
18: C
19: B
20: D
21: D
22: D
23: D
24: C
25: A
26: B
27: B
28: C
29: A
30: A
31: C
32: A
33: D
34: D
35: A
36: D
37: D
38: C
39: C
40: C
41: D
42: C
43: A
44: B
45: A
46: D
47: B
48: B
49: C
50: C
51: A
52: C
53: C
54: C
55: C
56: B
57: B
58: B
59: C
60: D
61: D
62: C
63: C
64: A
65: D
66: A
67: A
68: A
69: D
70: A
71: D
72: B
73: C
74: B
75: D
76: C
77: B
78: A
79: D
80: A
81: C
82: A
83: B
84: C
85: C
86: C
87: B
88: A
89: B
90: C
91: C
92: A
93: B
94: B
95: C
96: A
97: A
98: C
99: B
100: B