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Which of the following are the drawbacks of acceptance sampling? (i) Acceptance sampling is less expensive. (ii) Acceptance sampling has the risk of accepting good lots and rejecting bad lots. (iii) Acceptance sampling requires planning and documentation of the acceptance-sampling procedure whereas 100% inspection does not. (iv) Acceptance sampling requires less manpower.

Correct Answer: ii, iii
Acceptance sampling which is also known as lot-by-lot acceptance sampling has the disadvantage of accepting bad lots and rejecting good lots. Also, compared with other techniques it provides less information about the product or the process that manufactured the product. It also requires planning and documentation of the acceptance procedure which is not required in case of 100% inspection.

Arrange the steps in manpower planning in the order in which they occur
1. identifying sources of manpower supply
2. manpower forecasting
3. determining manpower requirements
4. manpower invently
5. selection
6. recruitment
7. placement

Which of the following statements are correct?
1. Manpower planning helps the organisation to realise the importance of manpower management which ultimately helps in the stability of a concern.
2. Manpower planning helps in reducing the overall cost of production by making optimum use of physical resources in an organisation.

S1: If you want to do well in your examinations you need to be able to think for yourself which means not just following the guide-books but write what you think yourself.
P: That will not help much.
Q: Few if any students do this.
R: By discussing things with other students, with your teachers, and with any intelligent people you meet you will find you can pick up a lot of new ideas but it is not good first accepting these ideas, swallowing them undigested and then repeating them in the examination.
S: At first you will find it difficult but if you go on trying you will find clear independent thought becomes easier.
S6: If however you turn these ideas over in our mind accepting those which you agree with and fitting them into your stock of knowledge and rejecting the others you may get somewhere.

The Proper sequence should be:

Which of the following distinguishes section 34 of Indian Penal Code from section 149, Indian Penal Code?
1. Section 149 creates a substantive offence whereas section 34 does not create an offence.
2. Section 149 requires common object whereas section 34 requires common intention.
3. Section 149 requires five or more persons whereas section 34 requires two or more persons.
Select the correct answer:

If the decision of accepting or rejecting a lot is done based on the inspection of a sample drawn from the same lot on which the decision has to be made, then such an inspection is known as ________

In the following question, somestatements is followed by some conclusions,you have to take the given statements to betrue even if they seem to be at variance with
commonly known facts and then decide whichof the given logically follow. Choose thatconclusion as the answer. Statements:
Some roads are not good.
Some railways are good.
All airways are good.
Some roads are bad. Conclusions:
I. At least some bad are good.
II. No bad is good.

What is the correct sequence of following stages in manpower acquisition process?
1. HR need forecast
2. Assessing existing manpower
3. Net manpower needed
4. Organisational objectives and policies
5. Recruitment process

Which of the following components are true about tax planning?
1. Tax planning is the process of analyzing a financial plan or a situation from a tax perspective.
2. The objective of tax planning is to make sure there is tax efficiency. With the help of tax planning, one can ensure that all elements of a financial plan can function together with maximum tax-efficiency.
3. Reducing tax liability and increasing the ability to make contributions towards retirement plans are critical for success.
4. Tax planning comprises various considerations such as size, the timing of income, timing of purchases, and planning are concerned with other kinds of expenditures.
5. The chosen investments and the various retirement plans should go hand-in-hand with the tax filing status as well as the deductions in order to create the best possible outcome.

Consider the below statements. (i) Inspection is the process of measuring the quality of a product or service in terms of established standards. (ii) Inspection is the art of comparing materials, products or performances with established standards. (iii) Inspection is the art of applying tests, preferably by the aid of measuring appliances to observe whether a given item of product is with n the specified limits of variability. (iv) Inspection is not a tool for controlling the quality of the product. Which of the above statements are correct?

Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.
Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does notaccord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that isconcerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to thinkof price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normalin all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixingthat it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competingfor the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for morethan its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with fullconsideration of the needs that it has in common with the other large firms competing for the same customers.
What does not seem as not good or normal in the context of this essay?