MCQ on Indian Railways Administration and Finance An introduction (Workshop Accounts) PC-11

 MCQ on Indian Railways Administration and Finance An introduction (Workshop Accounts) PC-11

Workshop Accounts

 

1)       ‘Payment by Results’ in workshop means

 

(A) Payment after results are declared

 

(B) Incentive Bonus Scheme

 

(C) Regular payment to workers

 

(D) None of the above

 

2)       The yardstick for measuring work in the Incentive Bonus Scheme is

 

(A) Time

 

(B) Regular Attendance

 

(C) Work study

 

(D) None of these

 

3)       Allowed time for a work is fixed keeping in view that some percentage of

 

incentive bonus is earned by the worker. The percentage is

 

(A)    10%

 

(B)    33 1/3 %

 

(C)    50%

 

(D)    None of these

 

4)   The ceiling limit on the profit earned by each worker is ______ of standard basic

 

wage of the worker

 

(A)    50%

 

(B)    25%

 

(C)    15%

 

(D)    10%

 

5)       Incentive Bonus for supervisors is restricted to ______ of the average percentage of profit earned by the direct workers under his control.

 

(A)    50%

 

(B)    60%

 

(C)    70%

 

(D)    80%

 

6)       The time lost due to lack of work, machine repairs, lack of tools etc is known as

 

(A) Idle time

 

(B) Allowed time

 

(C) Booked time

 

(D) None of the above

 

7)       Idle time expenditure is charged to

 

(A)    Shop on cost workorder

 

(B)    General on cost workorder

 

(C)    Proforma on cost workorder

 

(D)    None of these

 

8)       A record that shows the time for which wages are earned by each work men is called

 

(A)    Time book

 

(B)    Time sheet

 

(C)    Job card

 

(D)    None of these

9)       Idle time of a worker is recorded in

 

(A) Idle time sheet

 

(B) Idle time card

 

(C) Idle job card

 

(D) None of these

 

10)   The debits for material suppled from Stores Depots to workshop is raised

 

through

 

(A)    Work Orders

 

(B)    Issue Notes

 

(C)    Receipts Notes

 

(D)    All of these

 

11)   The debit for material received from Stores Depots to workshop is allocated to

 

(A) Stores Suspense

 

(B) Workshop Manufacturing Suspense

 

(C) Revenue

 

(D) None of these

 

12)   Receipts Note is issued for material received through

 

(A)    Stores Depot

 

(B)    Direct purchase

 

(C)    Transfer of material

 

(D)    None of these

 

13)   Following form is used to regularize incorrect allocation of stores

 

(A) Write back orders

 

(B) Work orders

 

(C) Outturn statement

 

(D) None of these

 

14)   Indirect charges not included in the cost of work done, but should be included

 

in commercial costing is known as

 

(A)    Proforma Oncost

 

(B)    General Oncost

 

(C)    Shop Oncost

 

(D)    All of these

 

15)   Cost incurred in common with more than one shop or department within the workshop is called

 

(A)    Proforma Oncost

 

(B)    General Oncost

 

(C)    Shop Oncost

 

(D)    All of these

 

16)   Cost incurred within one unit, such as a shop or department or a section is known as

 

(A)    Proforma Oncost

 

(B)    General Oncost

 

(C)    Shop Oncost

 

(D)    All of these

 

17)   The Oncost expenditure on labour & material incurred in individual shops is booked to

 

(A)    Standing work order

 

(B)    Oncost work order

 

(C)    Revenue

 

(D)    None of these

 

18)   The expenditure on labour and stores that can directly chargeable to a work or oncost is called

 

(A)    Total cost

 

(B)    Time cost

 

(C)    Prime cost

 

(D)    None of the above

 

19)   A device adopted for carrying out petty jobs under one or more standing work order is called

 

(A)    Grouping work order

 

(B)    Standing work order

 

(C)    On cost work order

 

(D)    None of these

 

20)   The system adopted to compare the cost of similar articles manufactured from time to time and finding out reasons for variation is called

 

(A)    Work order system

 

(B)    Job costing

 

(C)    Proforma costing

 

(D)    None of these

 

21)   The document which is the authority for the shops to undertake manufacture of component or assembling for which it is issued is called

 

(A)    Job card

 

(B)    Route card

 

(C)    Work order

 

(D)    None of these

 

22)   The various charges incurred on each work order are collected in _____

 

(A)    Ledger

 

(B)  Workshop General Register

 

(C)  Statement of work orders

 

(D)   None of the above

 

23)   Part I of Workshop General Register comprises of

 

(A)    Completed work orders

 

(B)    Ongoing work orders

 

(C)    Both (A) & (B) above

 

(D)    None of the above

 

24)   Part II of Workshop General Register comprises of

 

(A)    Completed work orders

 

(B)  Ongoing work orders

 

(C)  Bothe (A) & (B) above

 

(D)   None of the above

 

25)   The process of collecting, valuating, analysing and booking of charges for works done is reviewed through

 

(A)    Workshop Manufacture Suspense account

 

(B)    Stores suspense

 

(C)    Deposit suspense

 

(D)    None of the above

 

26)   Closing balance under Workshop Manufacture Suspense account indicates

 

(A) Monetary value of Outturn

 

(B) Work in progress

 

(C) On cost charges

 

(D) None of the above

 

27)   Wages of workers in the workshop are primarily booked to

 

(A)    Workshop Manufacture Suspense account

 

(B)    Revenue

 

(C)    Stores account

 

(D)    None of these

 

28)   Cost of material drawn from other workshops is booked to

 

(A) Workshop Manufacture Suspense account

 

(B) Revenue Heads

 

(C) Deposits

 

(D) None of the above

 

29)   The Part I outturn statement indicates the outlay of works completed in

 

(A) During the year

 

(B) Monthly Accounts on hand

 

(C) Quarterly

 

(D) None of the above

 

30)   The outlay shown in Part II of outturn statement indicates

 

(A)    Outlay on completed works

 

(B)    Outlay on works in progress

 

(C)    Adjustments made to Final Heads

 

(D)    None of the above

 

31)   The ‘Average Annual cost of service’ also includes

 

(A) Annual sinking fund payment to depreciation fund

 

(B) Annual interest charges on the cost of the asset

 

(C) Both (A) & (B) above

 

(D) None of the above

 

32)   The All-in-cost of work executed in workshop comprises of

 

(A) Prime cost

 

(B) Works on cost

 

(C) Both (A) & (B) above

 

(D) None of the above

 

33)   The cost of supervision for deposit works undertaken in workshops is

 

(A) 5%

 

(B) 10%

 

(C) 12.5%

 

(D) 15%

34)   In the Accounts office, the estimates are verified to see the

 

(A) Propriety of expenditure

 

(B) Incidence and classification of charges

 

(C) Competency of sanction

 

(D) All of the above

 

35)   Acquisition of new Rolling Stock is done through

 

(A)    Rolling Stock Programme

 

(B)    Works Programme

 

(C)    M&P Programme

 

(D)    None of the above

 

36)   A specified number of Rolling Stock is authorized for each zone under the heading

 

(A)    Authorized Stock

 

(B)    Rolling Stock

 

(C)    A & B above

 

(D)    None of the above

 

37)   Workshop Manufacturing Suspense falls under which Head of Account

 

(A) Capital Suspense PH 7200

 

(B) Capital Suspense PH 7100

 

(C) Capital Suspense PH 7300

 

(D) None of the above

 

38)   Road Vehicles are procured through

 

(A)    Rolling Stock Programme

 

(B)    M&P Programme

 

(C)    Tools & Plant

 

(D)    None of the above

 

39)   Immovable office Furniture is procured through

 

(A) Rolling Stock Programme

 

(B) M&P Programme

 

(C) Tools & Plant

 

(D) None of the above

 

40)   Calculation of Rate of Return is not necessary for procurement of

 

(A) Safety consideration

 

(B) Replacement account

 

(C) Additional account

 

(D) None of the above

 

41)   Urgent M&P items can be procured through

 

(A)    Out of turn sanctions

 

(B)    Railway Board separately

 

(C)    Priority in M&P

 

(D)    None of the above

 

 

42)   Staff Amenity works in workshops are charged to

 

(A) PH 5200

 

(B) PH 6300

 

(C) DF IV

 

(D) DF II

 

43)   M&P programme is budgetted under

 

(A)    PH-21

 

(B)    PH-41

 

(C)    PH-42

 

(D)    PH-53

 

44)   Items of M&P costing less than Rs. 1 lakh should be procured through

 

(A) Revenue

 

(B) PH-41

 

(C) Capital

 

(D) None of the above

 

45)   The currency of GMs sanction of M&P programme is up to

 

(A)    5 years

 

(B)    4 years

 

(C)    3 years

 

(D)    2 years

 

46) The amount projected under ‘Revenue credits’ of Workshop Manufacture Suspense account should correlate with

 

(A)    Projections made in Revenue Demands 5,6,7

 

(B)    Projections made in Capital Stores Suspense

 

(C)    Projections made in PH 7100

 

(D)    None of the above

 

47)   The amount projected under ‘Material and Stores’ under Workshop Manufacture Suspense account should correlate with the Projections made

 

under

 

(A)    Revenue Demands 5 and 6

 

(B)    Issues to Capital Manufacturing Suspense under Stores Budget

 

(C)    No correlation required

 

(D)    None of the above

 

48)   Projections made under ‘Material and Stores’ of Workshop Manufacture Suspense account should correlate with

 

(A)    Projections made under ‘Issues to Capital Manufacturing Suspense’ in Stores Budget

 

(B)    Demand No. 5 and 6

 

(C)    Demand No. 7

 

(D)    None of the above

 

49)   Material drawn from Stores Depots by workshops is debited to

 

(A) Workshop Manufacture Suspense account

 

(B) Labour suspense

 

(C) Stores suspense

 

(D) None of the above

 

50)   Proforma On cost charges collected in deposit works is

 

(A) Credited to Earnings

 

(B) Credited to Revenue Heads

 

(C) Credited to Plan Heads

 

(D) None of the above

 

51)   Proforma On cost budget is prepared

 

(A)    Annually

 

(B)    Half yearly

 

(C)    Quarterly

 

(D)    Monthly

 

 

 

Answer key

 

1B	2A	3A	4A	5D	6A	7A	8B	9B	10B	11B	12A
13A	14A	15B	16C	17A	18C	19A	20B	21B	22B	23A	24B
25A	26B	27A	28A	29B	30B	31C	32C	33C	34D	35A	36A
37A	38B	39C	40A	41A	42A	43B	44A	45C	46A	47B	48A
49A	50A	51A