PUE PUC II Retail Business First Test Model Questions
Section – A I. Four alternatives are given for each of the following question/incomplete statements. Only one of them is correct or most appropriate, choose the correct alternative and write the complete answers along with its letter and the question number in your answer booklet. 10×1=10
1.A retail organization is goods/services sold directly to— a. Manufacture b.Wholesaler c.Producer d. Consumer
2.Retail research helps to make the work— a.Confortable b.Unconfortable c.Measurable c.Un-measurable
3.Each of the following is associated with ——— in retailing research a.Manufacturer b.Producer c.Partnership d.Kirana stores
4.Consumer can studies in a variable of ways including through a.Observation b.Interview c.Experimentation d.All of the above
5.Inventories can be considered as: a.Assets b.Liabilities c.Profits d.Loss
6.Shortages exists when physical inventory is lower than. a.Value of stock b.Physical count c.Book inventory d.None of the above
7.Inventory cushions are also reffered to as. a.Maximum stock b.Safety stocks c.Stock outs d.None of the above
8.Use of computer system to control inventory is a.Expensive b.Feasible c.Non reliable d.Not justified
9.Holding of unusually high inventory than the current needs is a.Buffer inventory b.Anticipation inventory c.Optimum inventory d.None of the above
10.The methods using for both inventory and the cost of goods sold is a.FIFO b.LIFO c.Weight average d.All of the above
II.Answer the following questions in one or two sentence: 11×2=22 1.What is Retailing? 2.What is organizational structure? 3.What is Retail Strategy? 4.What do you mean by consumer behavior? 5.What is inventory? 6.What is inventory management? 7.What is Shortages and Overages? 8.What is Buffer inventory? 9.What is Inventory Control? 10.What is Inventory Valuation? 11.What is Anticipation Inventory? 12.What are the types of Inventory? 13. Expand 1.LIFO 2.FIFO 14.What is Retail mix?
III.Answer the following questions in three or four sentence: 4X3=12 1.Explain the factors influencing Organizational Structure? 2.Explain the Role of Marketing Research? 3. What are the methods of Inventory Planning? 4.What are the Methods of Inventory Control? 5.list the Equipment used for inventory control? 6.What are the types of Research Methods?
III.Answer the following questions in five to six sentences. 6×1=6 1.What are the benefits of Observation Method? 2. Explain the Objectives of Inventory Management System?
