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Answer Key:
(1) (d) Flexibility
(2) (a) Machine break-downs
(3) (b) Growth
(4) (c) TQM
(5) (b) Independent Float
(6) (a) Regular spares
(7) (d) Time between placing the order and receiving the materials
(8) (c) PERT & CPM
(9) (a) Material requirement planning
(10)(b) Gantt chart
(11)(b) Simplification
(12)(c) Manufacturing products
(13)(c) Few varieties in large volumes
(14)(b) Batch production
(15)(b) Just in time production
(16)(b) Factory planning
(17)(d) Fixing up starting and finishing times of each operation in doing a job
(18)(c) Crude oil
(19)(d) Routing
(20)(b) Lower than other systems
(21)(a) Line Efficiency
(22)(b) Heat Treatment
(23)(a) Short term forecasting is useful
(24)(c) Which resource should do which job and when
(25)(c) Product Mix
(26)(d) None of the above
(27)(d) Packaging
(28)(c) Quality Circle
(29)(d) Aggregate planning
(30)(c) Shutdown Cost
(31)(b) ISO 9002
(32)(b) Large varieties of products
(33)(a) One only
(34)(a) Small
(35)(c) For stock and supply
(36)(a) Higher
(37)(d) Market research
(38)(a) To determine the number of varieties that are to be manufactured
(39)(b) Forecasting
(40)(a) Estimate of the amount of unit sales or a specified future period
(41)(c) Purpose for which forecast is made
(42)(c) 3 to 6 months
(43)(d) above 5 years
(44)(b) Long range forecasting is used
(45)(a) Plan for Research and Development
(46)(c) To plan for-capacity adjustments
(47)(b) Short term forecasting is used
(48)(b) Available capacity of machines
(49)(b) Production
(50)(b) Change in physical and chemical characteristics
Reference : ICAI website