EDP Training Questions: EDP Traning Ke Sawal
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EDP Training, What is the EDP Training, EDP Training For PMEGP Loans
MODULE I: PROGRAM ORIENTATION
What is the mandatory duration of Manufacturing/ service sector project with cost of more than 5.00 lakh rupees?
Ans- 10 working days.
DESCRIPTION: For manufacturing/service sector projects with project cost of more than Rs.5.00 lakhs, the EDP duration of 10
working days is mandatory.
What does PMEGP stands for?
Ans- Prime Minister’s Employment Generation Programme.
DESCRIPTION: Government of India has approved the introduction of a new credit linked subsidy programme called Prime Minister’s Employment Generation Programme (PMEGP)
Which one of these is the first step of “The How to of Entrepreneurship”
Ans- Find the right business for you.
DESCRIPTION: The How to of Entrepreneurship Step 1 Find the right business for you. Step 2 Determine if you should get an education. Step 3 Plan your business. Step 4 Find your target group/audience. Step 5 Network. Step 6 Sell your idea. Step 7 Establish a Market.
Who are Entrepreneurs?
1. Who buys a local Franchise outlet
2. Who operate a Self-Employed servie business
3. Founder of business that become large scale enterprises
4. All of these
Ans- All Of these
DESCRIPTION: Entrepreneurs are: Founders of business that become large-scale enterprises. People who: Buy a local franchise
outlet Open a small retail shop Operate a self-employed service business People who introduce a new product or operational change in an existing organization.
What theory contends/states that there is a degree to which one believe that he/she is in control of one’s destiny?
Ans- Locus of control.
MODULE II: STARTING A NEW VENTURE
Entrepreneurial alertness help an individual in following ways __?
Ans- Overlooked possibilities. in that area than others.
CORRECT ANSWER: All the above
DESCRIPTION: Locus of control This theory contends/states that there is a degree to which one believes that he/she is in control of
one’s destiny. This can either be internal or external. Internals: The internals believe that what happens to them is a result of their
internal efforts whether it is good or bad.
Which of the following are types of idea generating techniques for generating ideas?
1. Focus Group
2. Reverse Brainstorming
3. Brainstorming
4. All the above
CORRECT ANSWER: All the above
DESCRIPTION: • FOCUS GROUPS These are groups of individuals/persons providing information in a structural format. A moderator leads such a group of people through an open, in-depth discussion rather than simply asking questions. People in such groups have long discussions for a new product area that can result in market success. • BRAINSTORMING Brainstorming is a method for generating ideas to solve a problem which usually involves a group, under the direction of a facilitator. The strength of brainstorming is the potential that participants have in drawing associations between their ideas in a free-thinking environment. • REVERSE BRAINSTORMING This method influences our mind to create better ideas and solutions. Instead of asking how to solve the problem, reverse brainstorming focuses on the idea of what causes the problem or how to achieve an opposite result of what is expected.
______ is established when the parent company establishes a new child company?
1. Strategic Allience
2. Joint VentureEquity
3. Strategic Alliance
4. None of the above
CORRECT ANSWER: Joint Venture.
DESCRIPTION: Joint Venture A joint venture is established when the parent companies establish a new child company. For example, Company A and Company B (parent companies) can form a joint venture by creating Company C (child company). In addition, if Company A and Company B each own 50% of the child company, it is defined as a 50-50 Joint Venture. If Company A owns 70% and Company B owns 30%, the joint venture is classified as a Majority-owned Venture.
The process of building and maintaining relationships with people whose interests are similar or whose relationship could bring advantages to the firm is called________?
1. Socializing
2. Networking
3. Associating
4. Connecting
CORRECT ANSWER: Socializing
DESCRIPTION: Socialisation is the process by which individuals acquire the knowledge, language, social skills, and value to conform to the norms and roles required for integration into a group or community. It is a combination of both self-imposed (because the individual wants to conform) and externally-imposed rules, and the expectations of the others. In an organizational setting, socialization refers to the process through which a new employee ‘learns the ropes,’ by becoming sensitive to the formal and informal power structure and the explicit and implicit rules of behavior.
Which of these are referred to as the external source of business idea?
1. Research and development
2. Employees
3. Competitors
4.None of these
CORRECT ANSWER: Competitors.
DESCRIPTION: One can analyse their competitors to find things which can be used for idea generation. By doing some research about our competitors we can get an idea about what they are missing and what we are missing. We can then decide what new facilities we would want to include in our new product/facilities.
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MODULE III: VARIOUS STATUTORY AND BUSINESS REGISTRATIONS
You start a shop, you have to register your shop in the labor department of the State Government. Under which act will you register?
1. Shop & Establishment Act
2. the Companies Act
3. Indian Contract Act
4. none of them
CORRECT ANSWER: Shop & Establishment Act.
DESCRIPTION: You start a shop, you have to register your shop in the labor department of the State Government under the Shop & Establishment Act. These registrations are now online.
Documents Required for Application for new PAN Card by For Individuals & HUF?
1. Proof of Identity
2. Proof of Address
3. Proof of date of Birth
4. all of them
CORRECT ANSWER: all of them
DESCRIPTION: Individual applicants should provide proof of residential address, Proof of Identity, Proof of date of Birth.
IE code document is issued by _______?
1. FSSAI
2. DGFT
3. CSO
4. none of them
CORRECT ANSWER: DGFT
DESCRIPTION: IE code document issued by DGFT
Under GST, a registered dealer has to file GST returns that include_________?
1. Purchases
2. Sales
3. Output GST (On sales)
4. all of them
CORRECT ANSWER: all of them
DESCRIPTION: Under GST, a registered dealer has to file GST returns that include: • Purchases • Sales • Output GST (On sales) • Input tax credit (GST paid on purchases)
Under which of the Income Tax Act, 1961, it is mandatory to quote Tax Deduction Account Number (TAN) allotted by the Income Tax Department (ITD) on all TDS returns.
CORRECT ANSWER: Section 203A
DESCRIPTION: Under Section 203A of the Income Tax Act, 1961, it is mandatory to quote Tax Deduction Account Number (TAN) allotted by the Income Tax Department (ITD) on all TDS returns.
Is there restriction on filing more than one Udyog Aadhaar Memorandum using the same Aadhaar Number?
1. yes 2. no 3. may be not 4. don’t know
CORRECT ANSWER: yes.
DESCRIPTION: No enterprise shall file more than one Udyam Registration. However, any number of activities including manufacturing or service or both may be specified or added in one Registration.
What is a GSTIN?
CORRECT ANSWER: GST identification number
DESCRIPTION: GSTIN refers to the unique GST identification number that every business will be allotted.
PAN enables to link all transactions of a person. What are these transactions ?
1. tax payments, 2. TDS/TCS credits, 3. returns of income/wealth/gift/FBT, 4. all of them
CORRECT ANSWER: all of them
DESCRIPTION: PAN enables the department to link all transactions of the “person” with the department. These transactions include tax payments, TDS/TCS credits, returns of income/wealth/gift/FBT, specified transactions, correspondence, and so on.
Form 49B is for?
1. Application for issuance of new TAN, 2. Form for change or correction in TAN data for TAN allotted.
3. both of them, 4. none of them
CORRECT ANSWER: Application for issuance of new TAN
DESCRIPTION: There are two types of TAN applications: • Application for issuance of new TAN(Form 49B) This Application form should be used when the deductor has never applied for a TAN or does not have a TAN. • Form for change or correction in TAN data for TAN allotted.
Classes of MSME are___________?
CORRECT ANSWER: both of them
DESCRIPTION: (MSME) are classified in two Classes 1. Manufacturing Enterprises 2. Service Enterprises.
MODULE IV: ENTREPRENEUR’S SKILL SETS
_______ is the process of starting a business or other organization?
1. Entrepreneurship, 2. Marketing, 3. Planning, 4. None of these
CORRECT ANSWER: Entrepreneurship
DESCRIPTION: Entrepreneurship is the process of starting a business or other organization.
Which one of the following is the component of Communication Speaking and Listning?
Verbal, 2. Non-verbal, 3. Both A & B, 4. None of these
CORRECT ANSWER: Both A & B
DESCRIPTION: There are two components of communication Speaking and Listening. Speaking Verbal Non-Verbal.
Which of the following points should be kept in mind while negotiating?
1. create the right environment
2. evaluate strength and weakness
3. decide who you are and who your opponent i
4. All of these
CORRECT ANSWER: All of these
DESCRIPTION: Negotiation depends on effective communication.. You must while negotiating remember these points.
Behavior change takes?
1. Determination, 2. Discipline.
3. True Assesment, 4. All of these
CORRECT ANSWER: All of these
DESCRIPTION: How to change behavior Changes take true assessment, determination and discipline. Behavior changes come through when we choose the way we act upon in any given situation. When we react upon the situation spontaneously, without. analyzing the situation, its called reactive behavior. On the other hand when we analyse the situation and then choose whether to act upon it or not and how to act upon it then its becomes a responsive and responsible behavior.
Emotional Resources are also known as?
1. Support Systems, 2. Industry knows how?, 3. Premises and Equipment, 4. None of these
CORRECT ANSWER: Support Systems
DESCRIPTION: Emotional Resources: Support Systems Starting a business can be an extremely stressful endeavour for an entrepreneur to undertake. To maintain sanity as well as stay motivated, it is important she have a support team that can give her inspirations and guidance as needed.
MODULE V: ESTABLISHING THE ENTERPRISE
What is the Benefit of an organisational chart?
1.Improve lines of communication, 2. Create a visual employee directory.
3. Present information such as business entity structures and data hierarchies
4. All of the Above.
CORRECT ANSWER: All of the Above
DESCRIPTION: All A, B,C are Benefits of Organisational chart
Primary data is not collected from ___?
1. Manufacturers, 2. Reports, 3. Suppliers, 4. Customers.
CORRECT ANSWER: Reports
DESCRIPTION: Secondary data is collected from reports/Published books
What is the most important section of a business summary?
YOUR ANSWER: Marketing
CORRECT ANSWER: Executive summary
DESCRIPTION: Executive Summary is the first and the most important section of businesss plan
Which of the following is an Important method of Industry analysis?
1. PORTER’S 5 FORCES, 2. PEST ANALYSIS 3. SWOT Analysis, 4. All of the Above.
YOUR ANSWER: All of the Above
DESCRIPTION: The three important methods of Industry Analysis are Porter’s 5 Forces, Pest Analysis and SWOT Analysis.
Approval of DIN is required for which of the following organisation?
1.Company, 2.Limited Liability Partnership, 3. Non Profit Organisation, 4. All of the Above
CORRECT ANSWER: All of the Above
DESCRIPTION: Approval of DIN is mandatory for registration of Company, Non Profit Organisation and Limited Liability Partnership.
MODULE VI: OPERATING THE ENTERPRISE
Launching the product at a high price and at a high promotional level is called?
1. Slow skimming, 2. Rapid penetration, 3. Rapid skimming, 4. None of these.
YOUR ANSWER: Rapid penetration
CORRECT ANSWER: Rapid skimming.
DESCRIPTION: Rapid skimming – launching the product at a high price and at a high promotional level.
What are the steps that can be taken in Cost Control?
1.Planning, 2. Communication, 3. Motivation, 4. All of these
CORRECT ANSWER: All of these
DESCRIPTION: STEPS IN COST CONTROL Cost control involves the following steps and covers various aspects of management. 1. Planning: Initially a plan or set of targets is established in the form of budgets, standards or estimates. 2. Communication: The next step is to communicate the plan to those whose responsibility is to implement the plan. 3. Motivation: After the plan is put into action,
evaluation of the performance starts. 4. Appraisal: Deficiencies are noted and discussion is started to overcome deficiencies. 5. Decision-making: Corrective actions and reme¬dial measures are taken.
____is an amount owed to a supplier or vendor for goods or services that were provided in advance of payment.
CORRECT ANSWER: Account Payable
DESCRIPTION: An account payable is an amount owed to a supplier or vendor for goods or services that were provided in advance of payment. However, some people use the term only if the amount is already recorded in the general ledger account Accounts Payable. (Until they are present, they refer to the amount as one of the company’s accrued liabilities.) For others, it is an account payable even if it is not yet recorded in Accounts Payable
4 : Uncollectible Accounts occurs when _______?
1. Customers do not pay for item, 2. Bad Debt
3. Uncollectible Expense placed as selling expense,
4. All of the above
CORRECT ANSWER: All of the above
DESCRIPTION: Uncollectible Accounts occur when: o When customers do not pay for items or services purchased on credit. o Bad Debts are uncollectible accounts receivables. o The uncollectible expense is placed on the income statement as a selling expense.
Which of the following is a type of maintenance?
1. Preventive maintenance, 2. Routine maintenance
3. Corrective maintenance, 4. All of these.
CORRECT ANSWER: All of these
DESCRIPTION: THE FIVE TYPES OF MAINTENANCE ? Breakdown maintenance or corrective maintenance ? Preventive maintenance ? Predictive maintenance ? Routine maintenance ? Planned maintenance.
A trial balance is a list of all the _____?
1.financial record of a company’s revenues, 2. General Ledger Accounts
3. Reports of profit, 4. None of the above
CORRECT ANSWER: General Ledger Accounts
DESCRIPTION: A trial balance is a list of all the General ledger accounts (both revenue and capital) contained in the ledger of a business. This list will contain the name of the nominal ledger account and the value of the nominal ledger account.
Semi-manufactured products need some more works in which of the following?
Raw Materials, 2. Supplies, 3. Work In Progress, 4. None of these.
CORRECT ANSWER: Work In Progress
DESCRIPTION: Work-In -Progress: Semi-manufactured products need some more works before they become finished goods for sale.
Which one of the following bookkeeping systems uses a Book keeping Software?
1. Computerized Book keeping, 2. Double Entry System,
3. Manual Book keeping, 4. Single Entry System
CORRECT ANSWER: Computerized Book keeping
DESCRIPTION: Computerized book keeping is the new and innovative way of recording business transactions. With the use of accounting and book keeping software, the book keeping process has been made easier, faster and more convenient. Keep in mind that principles and concepts of traditional book keeping process are still implemented and followed in computerized book keeping.
Which of the following are known as Methods of Purchasing?
1. Market Purchasing, 2. Contract Purchasing
3. Schedule Purchasing, 4. All of these
CORRECT ANSWER: All of these
CORRECT ANSWER: All of these
Which of these following professions are not covered under Income Tax Act?
1. Medical, 2. Engineering
3. Film Artist, 4. Teaching
CORRECT ANSWER: Teaching
DESCRIPTION: Following professions are covered under this provision – • Legal • Medical • Engineering • Architectural • Accountancy • Technical consultancy • Interior decoration • Authorized Representative (one who charges fees for representing someone before tribunal or any authority) • Film artist (producer, editor, actor, director, music director, art director, dance director, cameraman, singer, lyricist, story writer, screenplay or dialogue writer and costume designers. • Company secretary.
MODULE VII: MARKETING, BRANDING & SALESMANSHIP
____ in the e-commerce may be a holder of a payment card such as credit card or debit card from an issuer?
- customer, 2. issuer, 4. Merchant, 5.Acquirer
CORRECT ANSWER: customer
DESCRIPTION: Customers in e-commerce may be a holder of a payment card such as credit card or debit card from an issuer.
Service Marketing focus on__________?
1. Selling values, 2. Selling Relationship
3. Both A and B, 4.None of these
CORRECT ANSWER: Selling Relationship
DESCRIPTION: Product marketing refers to the process in which the marketing activities are aligned to promote and sell a specific product for a particular segment.Service marketing implies the marketing of economic activities, offered by the business to its clients for adequate consideration.
Strategies to build loyalty in customer include _________?
1. Delivering on your promises, 2. Listening to customers
3. Training staff in customer service and basic sales processes, 4. All of these
CORRECT ANSWER: All of these
DESCRIPTION: Strategies to build loyalty in customer include: • Communicating regularly with customers through social media, blogs or e-news • Providing after sales follow up • Delivering on your promises • Going the extra mile and providing benefits that exceed initial expectations • Using feedback and complaints as an opportunity to improve services • Listening to customers • Training staff in customer service and basic sales processes.
Needs for Successful E-Commerce?
1. Website Design, 2. Payment Method
3. None of these, 4. Both A and B
CORRECT ANSWER: Both A and B
DESCRIPTION: Website Design The website must be professional, attractive and understandable for visitors. Payment Method It sounds simple at first, but there are actually three elements that come into play for taking those payments from customers and getting them into your own account: i. Merchant accounts ii. Payment processors iii. Payment gateways.
What should you do to build a long-term relationship with your customers?
1. Communication and Be open with Customer, 2. Appeal to the consumers need
3.Make your client feel valued, 4. All of these
CORRECT ANSWER: All of these
DESCRIPTION: • COMMUNICATION One key part of creating a long-term customer relationship is to have excellent communication with your clients. Being able to help your clients when they ask is an essential part as they are paying for a service from you and could need help from you in regard to your product or service.
Marketing is a strategical mix of___ C’s?
1. 1, 2. 2, 3. 3, 4. 4
CORRECT ANSWER: 4
DESCRIPTION: Marketing is a strategical mix of four C’s, i.e. Consumer, Cost, Communication, and Convenience.
What are the ways to manage Social Advertising campaign?
1. Run your ad campaigns manually, 2. Run your ad campaigns via automated software
3. Hire a managed service to run your ad campaigns, 4. All of these.
CORRECT ANSWER: All of these
DESCRIPTION: RUN YOUR AD CAMPAIGNS MANUALLY The cheapest way to manage your ad campaigns in terms of operating cost is to simply run them yourself.
What are the ways in which value can be added to the product or service?
1. Bundling and packaging, 2. Service levels
3. Recognition and reward levels, 4. All of these
CORRECT ANSWER: All of these
DESCRIPTION: Bundling and packaging: Put together desirable packages, purchasing levels and a series of added benefits that are significant in value and are, themselves, a whole lot more valuable than simply the product is by itself.
Segmentation of Target Markets is based on?
1. Geography, 2. Demographics
3. Behavior and Lifestyle, 4. All of these.
CORRECT ANSWER: All of these
DESCRIPTION: Generally, segmentation is based on factors such as: • Geography – location • Demographics – age, gender, education level, income, occupation • Behavior – loyalty, attitude, readiness to buy, usage rates • Lifestyle- Social class, Personality, Personal values.
What are the Company Characteristics offering choice of channel of distribution?
1. Financial Strength, 2. Control
3. Both A and B, 4. None of these.
CORRECT ANSWER: Both A and B
DESCRIPTION: a) Financial Strength: The companies having huge funds at their disposal go for direct distribution. Those without such funds go for indirect channels. b) Control: Short channels are used if management wants greater control on the channel members otherwise a company can go in for longer channels.
MODULE VIII: UNDERSTANDING OF BANKING AND FUNDING
The __ analysis helps in assessing the strengths, weaknesses, opportunities and threats related to the project?
1. SWOT, 2. Competitive, 3. Senstivity, 4. None of these.
CORRECT ANSWER: SWOT
DESCRIPTION: SWOT ANALYSIS SWOT stands for Strength, Weakness, Opportunity and Threat. SWOT analysis helps in assessing the strengths, weaknesses, opportunities and threats related to the project. It gives an idea to the bankers about general viability and future of the project.
Which is the most fluctuating type of investment?
1. Bank Fixed Deposits, 2. Stock Market, 3. Mutual Funds, 4. None of these.
CORRECT ANSWER: Stock Market
DESCRIPTION: Indian Stock market is very fluctuating. A smart portfolio positioned for long-term growth includes strong stocks from different industries. Before investing in stock market one should be prepared to assume risk equivalent to sum invested in the market.
What are the cons of taking a loan?
1. Cannot close the account, 2. No tax benefits on the interest
3. Cannot change the account type, 4.All of the above.
CORRECT ANSWER: All of the above
DESCRIPTION: You cannot close or break the fixed deposit after availing the loan on account of ‘right to lien’ clause of the banks. Also, there will not be any kind of tax benefits or deductions for interest paid on this loan.
An institution that deals in money is called as?
1. Corporation, 2. Bank, 3. Franchise, 4. Sole trader
CORRECT ANSWER: Bank
DESCRIPTION: Bank is an institution that deals in money. Banks accept deposits and make loans and derive a profit from the difference in the interest rates paid and charged, respectively moreover it provides other financial services.
What is the type of account that is opened by the investor while registering with an investment broker?
1. Demat account, 2. Fixed Deposit account
3. Mutual Funds, 4. None of these.
CORRECT ANSWER: Demat account
DESCRIPTION: In India, shares and securities are held electronically in a dematerialized (or “Demat”) account, instead of the investor taking physical possession of certificates. A Dematerialized account is opened by the investor while registering with an investment broker (or sub-broker).
What type of non-transactional tasks a bank customer can perform through online banking?
1. View account balance, 2. View recent transaction
3. Downloading bank statements, 4. All of the above
CORRECT ANSWER: All of the above
DESCRIPTION: A bank customer can perform non-transactional tasks through online banking, including: • Viewing account balances. • Viewing recent transactions. • Downloading bank statements, for example in PDF format. • Viewing images of paid cheques.
Which type of bank account are the most popular deposits for individual accounts?
1. Saving Bank Account, 2. Recurring Deposit Account
3. Current Account, 3. Fixed Deposit Account
CORRECT ANSWER: Saving Bank Account
DESCRIPTION: Savings Bank deposits accounts are one of the most popular deposits for individual accounts.
Which type of bank accounts are suitable for people who do not have lump sum amount of savings, but are ready to save a small amount every month?
1. Recurring Deposit Account, 2. Saving Bank Account
3. Fixed Deposit Account, 4. Current Account
CORRECT ANSWER: Recurring Deposit Account
DESCRIPTION: Recurring Deposit Accounts (RD accounts) are special kind of Term Deposits and are suitable for people who do not have lump sum amount of savings, but are ready to save a small amount every month.
The scheme started for textile and jute industries from ministry of textiles, government of india is __________________?
1. Technology Upgradation Fund Scheme (TUFS)
2. Venture Capital Assistance Scheme
3. Export Packing Credit
4. Coir Udyami Yojana
CORRECT ANSWER: Technology Upgradation Fund Scheme (TUFS)
DESCRIPTION: Technology Upgradation Fund Scheme (TUFS) This is for the textile and jute industries from ministry of textiles, government of india.
What are the benefits of Credit Information Bureau India Limited (CIBIL)?
1. Effective decision about grant of credit
2. Knowledge about credit worthiness of borrowers
3. Lower cost of credit evaluation
4. All of the above
CORRECT ANSWER: All of the above
DESCRIPTION: Benefits of CIBIL • Know more about the credit worthiness of all borrowers. • Effective decision about grant of credit. • Maintain competitive advantage. • Lower cost of credit evaluation due to automated decision- system.