Drug Store And Business Management — Part 1 MCQs with Explanations

The correct answer is Option A: Balance supply and demand . Let's break down why: Enterprise Resource Planning (ERP) systems are like the central nervous system of a business. They aim to integrate all parts of the company into one big system so everyone's on the same page. Option A: Balance supply and demand - This is a CORE objective of ERP. Think of it like this: ERP helps predict how much of something you'll need (demand) and ensures you have enough to meet that need (supply). It avoids shortages or having too much stock lying around. This ensures efficiency and cost savings. Option B: Organise external management information - While ERP *can* touch on external info, its main focus is integrating *internal* operations. Option C: Control the flow of dependent demand inventories - ERP does manage inventories, but it doesn't *just* control dependent demand. Dependent demand means demand for something is linked to the demand for something else (like wheels needing to produce a car). ERP covers ALL sorts of inventory. Option D: Manage purchase order - ERP systems *do* manage purchase orders, but that's just one small part of what they do. It's like saying the objective of a car is just to honk the horn! Therefore, balancing supply and demand is the most overarching and fundamental objective of an ERP system.

Warehousing is the correct answer to “Hindrances of time are removed by which aids to trade”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Excess of credit side over debit side is the correct answer to “Credit balance of a ledger account is denoted by”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Public and private sectors is the correct answer to “What do you mean by a mixed economy”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Principal book is the correct answer to “Cash book is a subsidary as well as a”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

To create, sustain and increase the demand of goods is the correct answer to “The main object of advertising is”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Business, Profession and Employment is the correct answer to “Different types of economic activities are”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

ACE is the correct answer to “. . . . . . . . is a flexible programme consisting of six elements that better enable store staff to meet the needs of customers.”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

A and B is the correct answer to “Two commonly faced problems in the services business are”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Barcode reader is the correct answer to “Scanning for drug process and stock levels would be accomplished with which device”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Admission to the benefit of partnership is the correct answer to “If a minor choose to become a partner on attaining the age of majority will be liable for the debts of the firm from the date of his”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Net profit ratio is the correct answer to “Which among the following is the ratio of net profit to net sales”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Absolute items is the correct answer to “In a drug store, the expired drug formulation is called . . . . . . . .”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Written or oral agreement is the correct answer to “What type of agreement is used to form a partnership business”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Lump sum is the correct answer to “Which of the following contract type should be used by the owner on a high risk project”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Firm is the correct answer to “Business organization runs as a partnership is called a:”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Foreign trade is the correct answer to “Trade between the countries is known as”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Television is the correct answer to “A very effective, latest and fast growing medium of advertisement is”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Sales Journal is the correct answer to “Which of the following is used for recording for sales of goods on credit”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Market clearing price is the correct answer to “The price that equates market supply & market demand is called”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

10 is the correct answer to “The maximum number of partners in banking business is:”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Manufacturing Industry is the correct answer to “Ranbaxy company is an example of”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

18 is the correct answer to “Minor partner is the partner below the age of”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Machines is the correct answer to “Which of the following is not an inventory”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Minimum level is the correct answer to “Which of the following levels of material cautions against stock out”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Leading indicators is the correct answer to “The conference board is an organisation for compiling the index of”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Management is the correct answer to “The art of planning, organising, staffing, motivating & controlling is called”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

51 is the correct answer to “Percent of share hold by government in government company”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Financial intermediaries is the correct answer to “Banking institutions are a group of . . . . . . . .”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Affects the image of product is the correct answer to “Sales promotion is very important for any product, especially for newly launched and designed product. How it affect the product”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Plant & machinery is the correct answer to “In utilization of finance the 'fixed capital' is invested on which of the following”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

All of the above is the correct answer to “Specify the objective of budgetary control:”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Fear is the correct answer to “. . . . . . . . is the companion of a surprising number of sales professionals.”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

A tool for measuring income is the correct answer to “A budget may be defined in the following manner except . . . . . . . .”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Large quantity of goods is the correct answer to “Wholesalers are persons who deal in”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Direct selling is the correct answer to “Heavy machinery is sold to the consumer by”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Revenue realization is the correct answer to “The concept that business enterprise will not be sold liquidated in the near future is known as”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Export trade is the correct answer to “Country sale its products in abroad is known as”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Price, product, promotion and place is the correct answer to “Which of the following are 4Ps of marketing”. This question is standard in competitive examination syllabi for Drug Store And Business Management.

Ten is the correct answer to “The maximum number of partners allowed in the banking business are:”. This question is standard in competitive examination syllabi for Drug Store And Business Management.