UGC NET Management Previous Year Solved Papers - June 2019
Authority is the right to make decisions to direct the work of others and to give orders. In this context match List-I with List-II:
| List I | List II |
| (a) Line Authority | (i) Gives a manager the right to advice other managers or employees |
| (b) Staff Authority | (ii) Traditionally gives managers the right to issue orders to other managers or employees |
| (c) Line Manager | (iii) A manager who assists and advises the manager |
| (d) Staff Manager | (iv) A manager who is authorized to direct the work of subordinates is responsible for organizations tasks |
- Option : A
- Explanation : Middle management needs systems to help in monitoring, controlling, decision-making, and administrative activities. The principal question addressed by these systems is: Are things working well? The term Management Information System (MIS), also designate a specific category of information systems serving middle management. MIS provide middle managers with reports on the organization’s current performance. This information is used to monitor and control the business and predict future performance. MIS summarizes and reports on the company’s basic operations using data supplied by transaction processing systems. The basic transaction data from TPS are compressed and usually presented in reports that are produced on a regular schedule. Today, many of these reports are delivered online.
Read the following regarding PERT and CPM:
(a) PERT is probabilistic in nature and CPM is deterministic in nature.
(b) PERT is most suitable for new as well as old projects but CPM is of great value for projects that are repetitive.
(c) PERT focuses primarily on time element and attaches lesser significance to the cost. On the contrary, the CPM puts a strong emphasis on cost.
(d) PERT is activity-oriented and CPM is event-oriented.
23. Which one of the following options is most appropriate?
- Option : D
- Explanation : CPM and PERT: The following facts help to distinguish CPM and PERT calculations.
(i) In CPM the time of an activity is deterministic. But in PERT the time for each activity is probabilistic.
(ii) In CPM we find the minimum time required to complete the project without considering the cost involved. But in PERT the cost involved in each activity is also taken into account. The normal time required for each activity can be crashed to the least time required at an increased cost. We crash the activities in a systematic way and find the least possible time to complete the project at an optimum cost.
(iii) In CPM, the time calculations are activity-oriented. But in PERT each node represents an event and the calculations are based on these events.
(iv) In CPM the time of completion of the project is of deterministic nature whereas in PERT we can find only the probability of completion of the project within a stipulated time.
- Option : C
- Explanation : Assuming that the storage cost is paid at the end of the month, reverse cash and carry would produce the following cash flows at the end of a one month period:
Sale proceeds of one barrel at spot price = $70.
Plus one month interest earned at 6 percent on $70 = $0.35.
Plus one month storage cost saved = $0.60.
Thus the total cash flow at the end of one month from reverse cash and carry would be 70.00 + 0.35 + 0.60 = 70.95.
