| Post Name | Stores/Purchase Officer |
|---|---|
| Department | Kerala Co-operative Milk Marketing Federattion Limited |
| Question Paper Code | 049/2026/OL |
| Category Code | 125/2025 |
| Date of Test | 28 March 2026 |
| Exam Type | Online Examination |
| Total Questions | 100 |
1
Which body or authority is empowered to change the bye-laws of a co- operative society?
Answer
C. General body of the society
2
According to the Kerala co-operative societies act, 1969, the power to cancel a society's registration is provided under which section?
Answer
A. Sec 74
3
For registering a co-operative society, which of the following is not a mandatory requirement
Answer
D. government approval of capital
4
When may a member be denied voting rights in a co-operative society?
Answer
D. all of the above
5
Who may exercise certain functions on behalf of the managing committee if powers are delegated
Answer
A. sub-committees
6
The Kerala co-operative societies act empowers the registrar to inspect society records at
Answer
B. at any time
7
A dispute between a member and the society regarding arrears or contributions can be referred to
Answer
B. registrar for adjudication
8
In a co-operative society, audit is responsible for all of the following except?
Answer
C. supervising elections
9
Mention the authority who is responsible for registration of co- operative societies
Answer
C. registrar of co-operatives
10
Once the winding-up orders are issued, the Registrar will appoint a person to settle the assets and liabilities of a Co-operative society. By what name the particular person is called
Answer
B. liquidator
11
As part of which national level programme, did Kerala Co-operative Milk Marketing Federation Ltd was formed
Answer
D. Operation flood
12
A group of farmers submits an application to register a co-operative society. The registrar finds that the proposed bye-laws violate provisions of the Act. What can the registrar do?
Answer
C. direct modification of bye-laws before registration
13
Statement I : Village dairy co-operative societies form the base of MILMA's structure. Statement II : Procurement of milk and farmer services are the responsibility of these societies.
Answer
C. Both the statements are true
14
A village society failed to maintain the desired milk quality standards. Which organisational level will most directly provide technical intervention and training?
Answer
D. regional union
15
A regional union struggles with marketing excess dairy products despite efficient procurement. Which level should intervene to expand market channels?
Answer
A. state federation marketing division
16
In 1991, the Indian government reduced industrial licensing requirements, lowered import tariffs, and allowed greater participation of private firms in many industries. This reforms are best described as ;
Answer
B. liberalization reforms
17
The government introduces new environmental regulations requiring factories to install pollution-control equipment before operating. This action represents which role of the government in business?
Answer
B. regulatory role
18
Globalization mainly refers to
Answer
B. integration of world economies through trade, capital and technology flows
19
FDI refers to
Answer
B. investment made by a company or individual in one country into business interests in another country with controlling ownership
20
A technology company headquartered in the united states establishes manufacturing plants in India, research centers in Germany, and sales offices in Brazil. This company is best classified as
Answer
C. multinational corporation
21
Which of the following reduces the investment of an owner of a business?
Answer
C. drawings
22
PQ Ltd has applied for a loan for expanding its business. Which of the following accounting information about PQ Ltd is required by the bank to sanction the loan?
Answer
C. credit worthiness of the company
23
Carriage inwards is shown in
Answer
A. trading account
24
Closing stock is valued at cost or market price whichever is less is the application of
Answer
A. conservatism concept
25
Which of the following statement/s is found to be correct? (i) Trade discount encourages the customers to make prompt payment (ii) Capital is an obligation and claim on the asset of a company (iii) Closing stock of a manufacturing concern includes only the amount of goods which are lying unsold.
Answer
B. Only (ii) is correct
26
Goods withdrawn by the proprietor for personal use or debited to....
Answer
C. Drawings account
27
If closing stock appears inside the trial balance, it will be shown
Answer
A. Only in Balance sheet
28
Which accounting concept requires assets to be recorded in the books of account at their purchase price, regardless of market changes?
Answer
B. Cost concept
29
The main objective of financial accounting in preparing financial statements is
Answer
C. To provide financial information to the stakeholders
30
If Purchase returns are not recorded in the trading account, it will
Answer
B. Understate the profit
31
Which of the following statements is true regarding overheads?
Answer
B. overheads include both fixed and variable costs
32
Which statement explains a purchase order?
Answer
C. A formal document issued to a supplier indicating the details of goods/services to be supplied
33
If the ordering cost decreases, what is the likely effect on EOQ?
Answer
B. EOQ will decreases
34
From the options identify when reorder is to be done
Answer
B. At a point before stock falls below minimum level
35
Which of the following is NOT a main objective of costing?
Answer
C. preparing financial statements for external reporting
36
Which of the following is NOT considered an overhead cost?
Answer
A. Production Wages
37
Choose correct answer based on the statements Statement 1: In variance analysis, standard cost variances help in identifying areas of efficiency and inefficiency. Statement 2: Favorable variances indicate an overspending.
Answer
D. Statement 1 is true; Statement 2 is false.
38
Identify the primary advantage of using standard costing in a manufacturing firm
Answer
D. simplification of cost control and variance analysis
39
Which type of inventory valuation method assigns the most recent purchase prices to ending inventory?
Answer
B. LIFO (Last-In, First-Out)
40
Choose right answer based on the two statements Statement 1: Material requisition is a document used to authorize the withdrawal of materials from store. Statement 2: Material requisition is prepared by production department
Answer
A. Both statements are true
41
The demand curve generally slopes downward because of:
Answer
B. Law of demand
42
Which of the following is a fixed cost?
Answer
C. Factory rent
43
Break-even point occurs where:
Answer
C. Total revenue = Total cost
44
A demand function expresses the relationship between
Answer
B. price and quantity demanded
45
If price elasticity of demand is greater than 1, demand is
Answer
C. elastic
46
The production functions shows the relationship between
Answer
A. inputs and outputs
47
Economies of scope arise when
Answer
B. Producing multiple products reduces overall cost
48
Under perfect competition, firms are:
Answer
B. Price takers
49
A Monopolist maximizes profit where:
Answer
B. Marginal Revenue = Marginal Cost
50
If an oligopoly market, firms are highly interdependent because
Answer
C. Each firm’s pricing affects rivals’ decisions
51
Who is credited with developing the concept of ''Therbligs'’ in the context of Scientific Management?
Answer
B. Frank Gilbreth
52
Which of the following is a technique used by the Quantitative School?
Answer
C. Linear Programming
53
Which of the following is an example of a tactical plan?
Answer
B. A department's quarterly budget allocation
54
Which of the following is a technique used in organizing?
Answer
D. Job design
55
Which of the following is an example of a line function?
Answer
C. Production
56
Which of the following is an example of decentralisation?
Answer
B. Divisional offices having authority to make decisions
57
Which of the following is a challenge facing global managers in the coordinating function?
Answer
D. All of the above
58
In the context of opening up of economy, what is the primary role of the organising function?
Answer
A. structuring the organisation for global competitiveness
59
Which of the following is an example of a control measure in an economic downturn?
Answer
C. Reducing inventory levels
60
Which of the following is a characteristic of the future workplace?
Answer
A. flexible and remote work arrangements
61
In the context of '‘Production as a Value Addition Process,’' if a company increases its output without increasing its resource consumption, which ingredient of the process has been most directly optimized?
Answer
B. Transformation Process Efficiency
62
A manufacturing firm is deciding between a "product layout" and a "process layout". If the firm produces a high volume of a standardized item with low unit cost, which layout is most appropriate and why?
Answer
B. product layout, because it optimizes flow and reduces handling time
63
When applying the “5 Ps of Operations Management,” which element acts as the primary link between the design function and the physical delivery of the product?
Answer
C. Processes
64
A factory is experiencing high variation in the diameter of machined bolts. If the variation is caused by worn-out tool bits rather than random environmental factors, this is classified as:
Answer
B. Assignable cause variation
65
Why is "Economy of Size" (scale) considered a critical factor in plant location and capacity planning?
Answer
B. It allows for the reduction of average cost per unit as volume increases.
66
In a Total Quality Management (TQM) environment, who is ultimately responsible for the "Quality" of a finished product?
Answer
C. Every employee involved in the process
67
A company implements a Just-In-Time (JIT) system but finds that production frequently stops due to minor defects in raw materials. What does this indicate about their JIT implementation?
Answer
A. JIT is working correctly by exposing hidden inefficiencies.
68
Which of the following best describes the primary goal of a “Quality Circle” within a manufacturing unit?
Answer
B. To provide a forum for workers to solve localized production problems
69
In a Six Sigma project, the “Define'' and ''Measure'' phases are complete. The team is now using data to identify the root cause of defects. Which phase of the DMAIC cycle are they in?
Answer
C. Analyze
70
“Service Quality” is often harder to measure than “Product Quality” because
Answer
B. Service delivery and consumption often happen simultaneously
71
One of the important functions of material management is:
Answer
A. Purchasing
72
Which function is included in the integrated approach of material management?
Answer
D. All of the Above
73
Overstocking of materials mainly leads to:
Answer
C. Higher Carrying Cost
74
Quality control of materials mainly ensures:
Answer
B. Proper Standard
75
Which level leads with purchasing, storing and inventory within a firm?
Answer
A. Micro Level
76
Material Budget is a part of:
Answer
D. Master Budget
77
Purchasing the right quality of material is called:
Answer
B. Scientific Purchasing
78
Checking quotations from suppliers is called:
Answer
A. Price Comparison
79
Requesting suppliers to quote their prices is called
Answer
B. Inquiry
80
Purchase order contains details such as:
Answer
D. All of the Above
81
Which inventory system maintains continuous record of stock?
Answer
B. Perpetual system
82
ABC analysis is based on:
Answer
C. Annual consumption value
83
VED analysis is mainly used for:
Answer
B. Spare parts control
84
Exponential smoothing gives more weight to:
Answer
C. Recent data
85
Moving average is a:
Answer
C. Quantitative time series method
86
Safety stock increases when:
Answer
A. Demand variability increases
87
Just-in-Time system aims to:
Answer
B. Eliminate waste
88
Ordering cost includes:
Answer
B. Clerical cost
89
Economic order quantity variations include:
Answer
A. Price discount model
90
FSN analysis classifies items based on:
Answer
B. Usage rate
91
What does E-Commerce stands for?
Answer
B. Electronic Commerce
92
What is the primary purpose of a purchase order?
Answer
C. To place a legally binding order with a supplier
93
Which of the following refers to any transaction with monetary value that is conducted via a mobile communication network?
Answer
A. M-Commerce
94
Which of the following statement is correct about Skimming Pricing?
Answer
D. The pricing strategy which involves a high introductory price in the initial stage
95
Which of the following protocol is used to ensure secure communication and transactions on the web?
Answer
B. HTTPS
96
Which department maintains the Stores Ledger?
Answer
C. Costing Department
97
Which of the following is considered as accounting record?
Answer
A. Stores Ledger
98
Name the quantity of material to be ordered at one time in an inventory system.
Answer
C. Re-order Quantity
99
Which of the following is NOT a core principle of public procurement?
Answer
D. Secrecy
100
What is the full form of ABC analysis?
Answer
A. Always Better Control
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