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Subject : Functional Management
Q. 1. Explain the
classification of costs that are done according to the nature of elements of
cost (i.e.material, labour and expense).
Answer:
Q. 2. Explain the functions
of Materials Management .
Answer: The functions of material management have been classified
into two categories as well, namely, the primary functions and secondary
functions. These functions assist in the accomplishment of the aforesaid basic,
and primary and secondary objectives of material management.
Primary Functions
Q. 3. Explain the basic
methods of determining price.
Answer:In simple terms, a price analysis is a review, analysis or
examination of the price proposed by a supplier and an assessment or evaluation
as to whether or not it is fair and reasonable. A determination that a price is
fair and reasonable is really a conclusion that the proposed price is fair to
both parties, considering the quality, delivery and other factors. The basis
for reaching the conclusion is found in the facts and information considered
and analyzed by the buyer. This is what is called price analysis.
Q. 4. The value of quality
is usually very difficult to assess. It could be assessed considering various
factors. Explain the factors.
Answer: Some conflict of interest policies refer to actual or
perceived conflicts of interest and state that professionals should avoid “even
the appearance of a conflict of interest.” That requirement may lead to
confusion. All conflicts of interest involve perceptions or appearances because
they are specified from the perspective of people who do not have sufficient
information with which to assess the actual motives of a decision maker and the
effects of those motives on the decisions themselves.
Policies that contrast actual and
perceived conflicts of
Q. 5. The sales executives
and the top management share the responsibilities of attaining the objectives.
Explain the main objectives involved in sales management.
Answer:
Q. 6. Explain the statutory
requirements for affixing of CE
Marking.
Answer:The CE marking indicates a product’s compliance with EU
legislation and so enables the free movement of products within the European
market. By affixing the CE marking to a product, a manufacturer declares, on
his sole responsibility, that the product meets all the legal requirements for
the CE marking, which means that the product can be sold throughout the
European Economic Area (EEA, the 28 Member States of the EU and European Free
Trade Association (EFTA) countries Iceland, Norway, Liechtenstein). This also
applies to products made in other countries which are sold in the EEA.
However, not all products must
bear the CE marking, only product categories mentioned in specific EU
directives on the CE marking.
CE marking does not indicate that
a product was made in the
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