Subject : Functional Management

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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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