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McqMate
Chapters
1. |
The cost reduction technique in comparison to the worth of a product is known as |
A. | Reverse engineering |
B. | Value engineering |
C. | Material engineering |
D. | Quality engineering |
Answer» B. Value engineering |
2. |
Value analysis examines the |
A. | Design of every component |
B. | Method of manufacturing |
C. | Material used |
D. | All of the above |
Answer» D. All of the above |
3. |
Value analysis is normally applied to |
A. | New products |
B. | Old products |
C. | Future products |
D. | Both (A) and (B) |
Answer» B. Old products |
4. |
Value can be defined as the combination of _______ which ensures the ultimate economy and satisfaction of the customer. |
A. | Efficiency, quality, service and price |
B. | Efficiency, quality, service and size |
C. | Economy, quality, service and price |
D. | Efficiency, material, service and price |
Answer» A. Efficiency, quality, service and price |
5. |
Value is the cost directly proportionate to |
A. | Price |
B. | Function |
C. | Product Material |
D. | All of the above |
Answer» B. Function |
6. |
The price paid by the buyer is |
A. | Cost value |
B. | Use value |
C. | Esteem value |
D. | Exchange value |
Answer» B. Use value |
7. |
The cost incurred by the manufacturer beyond use value is called |
A. | Cost value |
B. | Esteem value |
C. | Exchange value |
D. | None of the above |
Answer» B. Esteem value |
8. |
Value analysis is a ____ process |
A. | Remedial |
B. | Preventive |
C. | Continuous |
D. | None of the above |
Answer» A. Remedial |
9. |
Value analysis should be applied when the following symptom(s) is (are) present |
A. | Rate of return on investment is reducing |
B. | Reduction in sales of the product |
C. | Firm is unable to meet delivery promises |
D. | All of the above |
Answer» D. All of the above |
10. |
Who is named as Father of Value Analysis? |
A. | Lawrence D. Miles |
B. | George Terborgh |
C. | Michael Jucius |
D. | Edwin B. Flippo |
Answer» A. Lawrence D. Miles |
11. |
Important reason(s) for arising unnecessary costs are |
A. | Poor design of product |
B. | Too tight specifications |
C. | Lack of standardization |
D. | All of the above |
Answer» D. All of the above |
12. |
The costs those which neither contributes to function nor the appearance of the product is called |
A. | Extra cost |
B. | Unnecessary cost |
C. | Esteem cost |
D. | Exchange cost |
Answer» B. Unnecessary cost |
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