.png){kind=logo}
One liners not found for this subject
Add One liners
Drug Store and Business Management Practice MCQs
1 of 50
Q.1 Poultry farms comes under which industry?
- Extractive industries
- Genetic industries
- Manufacturing industries
- Construction industries
Answer ✔ (b) Genetic industries
Explanation: Genetic industries are such industries in which certain species of plants and animals are multiplied and reproduced.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
2 of 50
Q.2 A type of account relating to losses and incomes is:
- Personal
- Real
- Nominal
- Profit and loss
Answer ✔ (c) Nominal
Explanation: Nominal accounts in accounting are the temporary account such as the income statement accounts.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
3 of 50
Q.3 In VED analysis D stands for-
- Data of receipt of items
- Desirable item
- Deviation of stock
- Daily desired item
Answer ✔ (b) Desirable item
Explanation: VED analysis is vital, essential, and desirable analysis employed in inventory control.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
4 of 50
Q.4 alpha numeric codification is suitable for a -
- Large scale organisation
- Small scale organisation
- Medium scale organisation
- All of the above
Answer ✔ (a) Large scale organisation
Explanation: Alpha numeric codification is a coding system suitable for large scale organisation, e.g. Car Numbers.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
5 of 50
Q.5 Purchase indent is an -
- External document
- Internal document
- Legal document
- None of the above
Answer ✔ (b) Internal document
Explanation: Purchase indent is a document that is used by the company internally that authorize the purchasing of products and material needed by the company.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
6 of 50
Q.6 Economic order quantity (EOQ) aims at minimizing -
- Carrying cost
- Ordering cost
- Both of carrying cost and ordering cost
- Suppliers price
Answer ✔ (c) Both of carrying cost and ordering cost
Explanation: EOQ aims to minimize carrying cost and ordering cost.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
7 of 50
Q.7 Which of the method of advertisement is suitable for uneducated media?
- Magazines
- Audio visual
- News papers
- Any of the above
Answer ✔ (b) Audio visual
Explanation: Audiovisuals refers to work with both a sound and visual component. This method is suitable for uneducated peoples.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
8 of 50
Q.8 The business financial year in India ends on -
- March 31st
- December 31st
- July 31st
- March 31st and December 31st
Answer ✔ (a) March 31st
Explanation: A financial year in India generally ends on 31st march.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
9 of 50
Q.9 Patent, copyright, trademarks comes under which type of assets?
- Current assets
- Intangible assets
- Tangible assets
- Miscellaneous assets
Answer ✔ (b) Intangible assets
Explanation: Intangible assets are identifiable long term assets of the company having no physical existence.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
10 of 50
Q.10 Uniform part of a loan raised by a company is known as -
- Public deposit
- Equity shares
- Debentures
- Borrowed capital
Answer ✔ (c) Debentures
Explanation: Debentures is a document that either creates a debt or acknowledge it and it is debt without collateral.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
11 of 50
Q.11 Induction training is meant for -
- Existing employees
- New employees
- Both (a) and (b)
- None of the above
Answer ✔ (b) New employees
Explanation: Induction training is a type of training given as an initial preparation upon taking up a post (new employees)
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
12 of 50
Q.12 Bank is an organisation which deals in -
- Deposits
- Loans
- Money
- All of the above
Answer ✔ (d) All of the above
Explanation: Bank is an organisation which deals different matters related to money like deposit, loan, interest, etc.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
13 of 50
Q.13 What is a pooled commission?
- Share of commission on total profit
- Equal share of commission on total sale
- Equal share of commission on annual total sale
- Straight salary plus bonus on sale
Answer ✔ (b) Equal share of commission on total sale
Explanation: Pooled commission is the equal share of commission on total sale .
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
14 of 50
Q.14 Drug samples worth Rs. 5,000 were distributed to physicians. The amount should be debited to -
- Sales account
- Samples account
- Advertisement account
- None of the above
Answer ✔ (c) Advertisement account
Explanation: Advertising account executes work withing advertising or multiservices agencies acting as a link between clients and the agency.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
15 of 50
Q.15 Credit balance of a ledger account is denoted by -
- Excess of credit side over debit side
- Excess of debit side over credit side
- Equally of debit and credit
- Any of the above
Answer ✔ (a) Excess of credit side over debit side
Explanation: Excess of credit side over debit side is called credit balance.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
16 of 50
Q.16 The exchange of goods between foreign producers and foreign consumer comes under -
- Import and export trade
- Import trade
- Entrepot trade
- External trade
Answer ✔ (c) Entrepot trade
Explanation: Entrepot trade in which imported goods are re-exported with or without any additional processing or repackaging.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
17 of 50
Q.17 Indian contract act was passed in -
- 1992
- 1872
- 1972
- 1892
Answer ✔ (b) 1872
Explanation: The indian contract act was passed in 1872.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
18 of 50
Q.18 Scrap and surplus disposal helps to -
- Reduce investments
- Release surplus funds
- Make available funds
- All of the above
Answer ✔ (d) All of the above
Explanation: Disposal of scrap and surplus items helps in gaining funds, reducing investment, space sparing etc.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
19 of 50
Q.19 The Imprest system is used in relation to -
- Sales book
- Purchase book
- Petty cash book
- Journal
Answer ✔ (c) Petty cash book
Explanation: Imprest system is a form of financial accounting system. The most common imprest system is the petty cash system.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
20 of 50
Q.20 In fund flow system the term 'fund' means -
- Cash
- Current assets
- Current liabilities
- Current liabilities - current assets
Answer ✔ (d) Current liabilities - current assets
Explanation: Fund means current liabilities and current assets in fund flow statement.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
21 of 50
Q.21 A budget is a -
- Financial statement
- Quantitative statement
- A report only
- Any of the above
Answer ✔ (b) Quantitative statement
Explanation: A budget is a quantitative expression of a plan for defined period of time.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
22 of 50
Q.22 in the journal data is recorded on the basis of -
- Account
- Nature
- Year
- Transaction
Answer ✔ (d) Transaction
Explanation: the unit of classification of data within the journal is the transaction. In the journal the data is recorded on the basis of transaction.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
23 of 50
Q.23 A person who is interested to start a retail drug store must be -
- D.Pharmacy
- Registered Pharmacist
- Chemist
- Druggist
Answer ✔ (b) Registered Pharmacist
Explanation: Registered Pharmacist is licensed to start a retail drug store.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
24 of 50
Q.24 Which one is not the function of management?
- Planning
- Organising
- Crediting
- Staffing
Answer ✔ (c) Crediting
Explanation: Management includes planning, organising, staffing, leading and controlling an organisation to accomplish the goal.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
25 of 50
Q.25 Open tender means -
- Major tender
- Moderate tender
- Minor tender
- None of these
Answer ✔ (a) Major tender
Explanation: Open tender is also known as competitive tender, public tender and major tender.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
26 of 50
Q.26 The form of cheque for which we cannot get cash in hand is -
- Bearer cheque
- Order cheque
- Crossed cheque
- None of the above
Answer ✔ (c) Crossed cheque
Explanation: Crossed cheque is a cheque marked to specify an instruction about the way it is to be redeemed. One can not get cash in hand through a crossed cheque.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
27 of 50
Q.27 The maximum number of partners allowed in a general business -
- 10
- 20
- 50
- 100
Answer ✔ (b) 20
Explanation: Maximum 20 partners are allowed in a general business.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
28 of 50
Q.28 The perpetual inventory system includes-
- Bin card
- Stores ledger
- Continuous stock taking
- All of the above
Answer ✔ (d) All of the above
Explanation: Perpetual inventory is also known as continuous inventory, described system of inventory where information on inventory quality and availability is updated on a continuous basis as a function of doing business. A bin card and store ledger are common elements in a perpetual inventory system.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
29 of 50
Q.29 Commerce is a term involved in -
- Earning profit
- Buying and selling of goods
- Managing work
- Providing finance
Answer ✔ (b) Buying and selling of goods
Explanation: Commerce is a whole system of an economy that constitute an environment for business (buying and selling of goods).
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
30 of 50
Q.30 Formula of debt equity ratio is -
- Net profit after tax
- Owners equity
- Total liabilities / shareholders equity
- Internal equity / external equity
Answer ✔ (c) Total liabilities / shareholders equity
Explanation: Debt equity ratio is used to measure relative claims of creditors and owners. It is Total liabilities by stockholders equity.
D. Pharma • B. Pharma • Drug Store and Business Management • Diploma in Pharmacy
31 of 50
Q.1 The term transactions in business referes to-
- Exchange of goods
- goods and services
- transfer of goods
- Goods and sale
Answer ✔ (c) transfer of goods
Explanation: Transaction referes to transfer of goods. The buyer and seller often involved in the exchange of items of value such as goods, information, services and money.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
32 of 50
Q.2 Channel of distribution is zero level in-
- Manufacturers → physician → consumer
- Manufacturer → wholesaler → physician → patient
- Manufacturer → retailer → patient
- Manufacturer → patient
Answer ✔ (d) Manufacturer → patient
Explanation: zero level channels have no intermediates.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
33 of 50
Q.3 Type of relationship of street vendor is-
- small scale fixed retailer
- large scale retailer
- Itinerant retailer
- Pertinent retailer
Answer ✔ (c) Itinerant retailer
Explanation: The trem itinerant retailer shall include person selling goods door to door as well as person selling goods from a mobile cart, trailer or similar devices.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
34 of 50
Q.4 OTC drugs are-
- Ethical drugs
- Prescription drugs
- Ethical and prescription drugs
- non-prescription drugs
Answer ✔ (d) non-prescription drugs
Explanation: OTC drugs are over the counter medicines, sold directly to a consumer wothout a prescripton.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
35 of 50
Q.5 Safety stock is used for -
- For protection of store from fire or thefts
- As an insuarance claim during emergency
- for emergency to meet unforeseen demands
- to increase the market value of product
Answer ✔ (c) for emergency to meet unforeseen demands
Explanation: safety stock is also known as buffer stock and its is used in emergency to meet extra demands.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
36 of 50
Q.6 ICICI stands for -
- Industrial Credit and Investment Corporation of India
- Inductrial and Commercial Investment Corporation of India
- Indian Corporation of Investments and Commercial Institution
- Industrial Corporation of Investment and Credit Income
Answer ✔ (a) Industrial Credit and Investment Corporation of India
Explanation: ICICI stands for Industrial Credit and Investment Corporation of India.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
37 of 50
Q.7 Which one of the following will not apear as source of fund in flow statement?
- Increase in share capital
- increase in working capital
- increase in secured loans
- funds from operation
Answer ✔ (b) increase in working capital
Explanation: Increase in working capital will not appear as source of fund in flow statement.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
38 of 50
Q.8 Inventories comprise of-
- Raw material
- General store machinery
- Finished products
- All of the above
Answer ✔ (d) All of the above
Explanation: Inventory refers to the goods and material that a business holds for the ultimate purpose of resale/repair.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
39 of 50
Q.9 A leader who permits the members of the group to do whatever they want to do whatever they want to do may be classified into-
- Democratic leader
- Laissez - Faire leader
- Herzberg leader
- social leader
Answer ✔ (b) Laissez - Faire leader
Explanation: The Laissez - Faire leadership style is where all the rights and powers to make decision is fully given to the worker.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
40 of 50
Q.10 Advertisement and salesmanship help to remove the-
- Hindrance of place
- Hindrance of persons
- Hindrance of finance
- Unawareness
Answer ✔ (d) Unawareness
Explanation: advertisement and salesmanship help to remove the unawareness.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
41 of 50
Q.11 Business is an-
- non-economic activity
- economic activity
- both economic and non-economic activity
- All of the above
Answer ✔ (b) economic activity
Explanation: Business is also known as Enterprise or a firm. It is an economic activity.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
42 of 50
Q.12 Partners who are neither entitled to take part in the management nor do they invest and get a share of profits are-
- silent partners
- Prtners by estoppel
- Nominal partner
- Limited partner
Answer ✔ (a) silent partners
Explanation: Silent partners do not involved in a business.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
43 of 50
Q.13 The oldest form of business organisation is-
- Joint stock company
- Sole Proprietorship
- Partnership
- All of the above
Answer ✔ (b) Sole Proprietorship
Explanation: Sole or single properietorship is considered as the simplest as well as the oldest form of business ownership.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
44 of 50
Q.14 The buying and selling of pharmaceuticals items for making profit is called-
- Trading
- Commerce
- Direct service
- Miscellaneous
Answer ✔ (a) Trading
Explanation: Trading is the value added function of the economic process.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
45 of 50
Q.15 Warehousing is done to save-
- Time
- Place
- Cost
- Labour requirements
Answer ✔ (b) Place
Explanation: Warehousing is done primarily to save place.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
46 of 50
Q.16 The maximum number of members in public limited company is-
- 20
- 30
- 50
- unlimited
Answer ✔ (d) unlimited
Explanation: There is no restriction for maximum number of members in a public limited company.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
47 of 50
Q.17 In a mail order business goods are sold on-
- cash
- credit
- both cash and credit
- Instalment basis
Answer ✔ (a) cash
Explanation: In a mail order business goods are sold on cash and it can be done exclusively from home.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
48 of 50
Q.18 Coding of items helps in-
- Handling of store items
- Standardization of drug
- Reduction of items
- All of the above
Answer ✔ (a) Handling of store items
Explanation: coding of items helps in handling of store items.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
49 of 50
Q.19 The layout of drug store depends upon-
- Pharmacist/proprietor
- Rules specified in shedule N
- Availability of space
- All of the above
Answer ✔ (b) Rules specified in shedule N
Explanation: Schedule N includes list of minimum equipment for the efficient running of a pharmacy.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
50 of 50
Q.20 ABC analysis is based on-
- Unit price material
- consumption value of material
- storage value of material
- All of the above
Answer ✔ (b) consumption value of material
Explanation: ABC analysis is the business term used to define inventory chategorisation technique often used in material management. It is also known as selective inventory control. It depends on consumption value of materials.
D. Pharma • Drug Store and Business Management • Diploma in Pharmacy
.png)
