Labor Cost and Payroll MCQ Quiz
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This quiz consist 25 MCQ.
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This Labor Cost and Payroll MCQ Quiz is based on following questions.
Important Note:-👇
"To know the answers to the below questions, you need to solve the following quiz. It has the answers to all the questions"
1. ……………wages do not necessarily mean low labor cost.
a. Low
b. High
c. Medium
2. Low labor cost is possible by giving substantial ……………..in wages against corresponding increase in productivity.
a. Decrease
b. Increase
c. Constant
3. Given right type of motivation and………….. the productivity of labor can reach amazing scale.
a. Incentive
b. Support
c. Help
4. Employee ………………….. influences vitally the growth and profitability of the company.
a. Remuneration
b. Support
c. Layoff
5. If there is no ………….to work, all other factors, be it land or capital, will remain idle.
a. Machine
b. Material
c. Labor
6. Wages can be paid………..?
a. Hourly
b. Daily
c. Weekly
d. All of the above
7. Salary can be paid as………….?
a. Monthly
b. Weekly
c. Daily
8. ……………are the wages paid according to the work done by the worker.
a. Time wages
b. Piece wages
c. Cash wages
9. To calculate the piece wages, the number of ………….produced by the worker are taken into consideration.
a. Units
b. Productive hours
c. Values
10. When the laborer is paid in terms of goods rather than cash, it is called the………......?
a. Piece wages
b. Time wages
c. Wages in kind
11. These types of wages are popular in rural areas?
a. Cash wages
b. Piece wages
c. Wages in kind
12. Under this type, the wages are fixed in the beginning for complete work.
a. Time wages
b. Contract wages
c. Cash wages
13. …………….means translation of money wages into real terms or in terms of commodities and services that money can buy.
a. Money wages
b. Real wages
c. Nominal wages
14. Salary is given to the ………………?
a. Skilled persons
b. Semi-skilled persons
c. Unskilled persons
15. Wages are given to …………….?
a. Semi-skilled persons
b. Unskilled persons
c. Both
16. In the case of salary, the cost incurred is …………………?
a. Variable
b. Fixed
17. In the case of wages, the cost incurred is …………………?
d. Variable
e. Fixed
f. Semi-variable
18. ……………..is necessary for the purpose of recording attendance and for calculating wages.
a. Time-keeping
b. Time-Booking
c. Time-Taking
19. Method of Time-keeping are ………….?
a. Manual method
b. Mechanical method
c. Both
20. The purpose of Time-Booking is cost analysis and cost……………...?
a. Apportionment
b. Allocation
c. Absorption
21. ………….is a method of recording details of time with reference to the jobs or work orders undertaken by the workers.
a. Daily time sheet
b. Job Card
c. Weekly time sheet
22. Methods of Time-Booking are ……………?
a. Daily time sheet
b. Weekly time sheet
c. Job card
d. All of the above
23. The ………………….is a record which shows details of the gross wages earned by each worker in a particular period, the deductions made and the net wages payable.
a. Payroll
b. Labour cost
c. Remuneration
24. The payroll can be prepared at………………. periods.
a. Weekly
b. Fortnightly
c. Monthly
d. All of the above
25. The preparation of payroll involves ………………?
a. Collection of basic data
b. Determining the wages payable
c. Preparing the actual payroll
d. All of the above
Important Note:-👇
"To know the answers to the above questions, you need to solve the following quiz. It has the answers to all the questions"
MCQ Quiz is below !
Labour Cost and Payroll MCQ Quiz
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