Quiz On Ppp (Re-sit)

The correct answer is Procurement because the department that is responsible for issuing Local Purchase Orders (LPO) or Work Orders (WO) is typically the procurement department. This department is in charge of acquiring goods and services for the organization, including issuing purchase orders to suppliers. Operations, Store, Logistics, and Accounts departments may be involved in the procurement process, but the ultimate authority for issuing LPOs or WOs lies with the procurement department.

The correct answer is "The level of risk that company can take." In our context, risk appetite refers to the willingness and capacity of a company to take on risks in order to achieve its objectives. It reflects the company's tolerance for uncertainty and its ability to handle potential losses. By understanding their risk appetite, companies can make informed decisions about the amount and type of risks they are willing to accept in pursuit of their goals.

The correct answer is Executive Management Committee. This is a group of high-level executives within an organization who are responsible for making strategic decisions and overseeing the overall management of the company. They typically consist of the CEO, CFO, COO, and other top executives. The term "committee" implies that it is a group of individuals working together to make decisions and provide guidance. The term "executive management" indicates that it is focused on the highest level of management within the organization.

The statement is true because before the HR department can recall an employee who is on vacation, the immediate supervisor must provide a written justification for the recall and explain the cost implications. This ensures that there is a valid reason for interrupting an employee's vacation and that the company is aware of the potential financial impact. This policy helps to maintain transparency and accountability in the decision-making process.

The newly appointed director will need to wait for two years before qualifying to become a member of EMC. This suggests that there is a specific time requirement or probation period for directors before they can join EMC. Without this waiting period, the director would not be eligible for membership.

According to the given information, a senior staff who received a rating of 1 in their evaluation and was appraised with the DIPER appraisal method will be terminated. This suggests that a rating of 1 indicates poor performance and does not meet the required standards, leading to termination rather than any positive outcome like a salary increment or an excellent rating.

Directors are excluded from the Attendance Policy application. This implies that the Attendance Policy does not apply to Directors and they are not required to adhere to the attendance requirements or regulations outlined in the policy.

The correct answer is I, II and IV. This means that members I (GED), II (GFM), and IV (GHIARM) are included in the composition of the Group Tender/Contract Committee. Members III (GHRM) is not included in the committee.

The subsidiary Operational Head is required to send the Bi-weekly fund request to CMC on the 10th and 20th of every month.

If an employee wishes to appeal against a disciplinary sanction, he should address his letter to the HR Manager. The employee should do this within a time limit of 5 working days.

Temporary workers are hired for a specific period of time to meet short-term needs. The guaranteed length of service refers to the minimum duration for which a temporary worker will be employed. This ensures that they have a certain level of job security and are not terminated abruptly. The correct answer, 3 months, indicates that the maximum guaranteed length of service for temporary workers should not exceed this duration. This allows for flexibility in addressing short-term staffing requirements while also providing some stability to temporary workers.

The LIFT principle that ought to be followed when making an investigation is to be logical, impartial, fair, and time-bound. This means that the investigation should be conducted in a logical and systematic manner, without any bias or favoritism towards any party involved. It should also be fair, ensuring that all relevant evidence and perspectives are considered. Lastly, the investigation should be time-bound, meaning that it should be conducted within a reasonable timeframe to ensure efficiency and effectiveness.

The correct answer is "Not later than 24 hours." This means that the accountant must post the approved payable to contractor account within a maximum time limit of 24 hours. It is important for the accountant to promptly record and update the payable information to ensure accurate financial records and timely payments to contractors.

The risk function is calculated by multiplying the likelihood probability and the consequence. This is because the likelihood probability represents the probability or chance of a risk event occurring, while the consequence represents the impact or severity of that risk event. By multiplying these two factors, we can determine the overall risk level.

According to the given information, if a staff has spent 3 years but less than 5 years in the company, they will be entitled to a terminal benefit. The terminal benefit is calculated as a percentage of the monthly gross salary for each year spent. The correct answer states that the staff will receive 20% of the monthly gross salary for each of the years spent. This means that for each year the staff has worked, they will receive 20% of their monthly gross salary as a terminal benefit.

The correct answer is "The Manager". If misconduct is left unattended and it worsens, it shows a lack of action and responsibility on the part of the manager. The manager is responsible for addressing and resolving issues within the team and ensuring a positive work environment. Negligence in handling misconduct can lead to a toxic workplace culture and potential legal consequences.

The correct answer is "All of the above". Fixed assets may be disposed of based on their net book value, which could indicate that they are no longer economically viable. The present condition of the asset is also important, as if it is in poor condition or requires significant repairs, it may be more cost-effective to dispose of it. Additionally, the usefulness of the asset is a factor, as if it is no longer needed or has become obsolete, it may be disposed of. Therefore, all of these factors can be considered when deciding to dispose of a fixed asset.

The correct answer is 24 hours because it states that any decision made by EMC on an issue must be communicated within this timeframe. This implies that EMC has a policy or expectation of timely communication to ensure that relevant committees or staff are informed promptly. This timeframe allows for efficient decision-making and ensures that necessary actions can be taken in a timely manner.

The fixed asset procedure review needs to be approved by EMC.

The correct answer is "All of the above" because the question asks for ways to treat risk in JOMS (Journal of Operations and Management Sciences), and all three options (Terminate, Transfer, Tolerate) are valid methods to treat risk. Terminating a risk involves eliminating the risk by stopping or avoiding the activity that poses the risk. Transferring a risk involves shifting the responsibility or impact of the risk to another party, such as through insurance or contracts. Tolerating a risk involves accepting the risk and its potential consequences without taking any specific action to mitigate it. Therefore, all of these options are valid ways to treat risk in JOMS.

The given options all serve as considerations or justifications for recruitment. Assessing the necessity to fill a vacancy position ensures that the workload is adequately distributed. Evaluating changes in duties and responsibilities helps determine if a new hire is required. (Re)evaluating the grade of a position ensures that it aligns with the company's needs. Assessing if suitable staff within the company can fill the position promotes internal growth and development. Therefore, all the options listed serve as considerations for recruitment, and the correct answer is "None of the above."

The approved capitalization bench for furniture and fitting, office equipment is N100,000. This means that any furniture and fitting, as well as office equipment, purchased for the company should not exceed this amount in value. It is a limit set by the company to ensure that excessive spending on these items is avoided and that the company's resources are utilized efficiently.

When a bonus is given along with a letter of commendation to a staff member, the letter should be signed by GMD.

The correct answer is "Standard of behaviour, ethical and professional standards of applicable laws and regulations are below the code of conduct." This means that the company's code of conduct takes precedence over any other standards or regulations if they are not in line with the code. It ensures that employees are expected to adhere to the highest standards of behavior and ethics, even if other laws or regulations may allow for lower standards.

Employees who are absent for more than 1 day on the basis of sick leave and who fail to provide the required documentation upon the day of resumption will have their salary payment for the days absent forfeited. This means that they will not receive payment for the days they were absent from work due to sickness.

When an employee does not sign out for the day, a caution letter shall be issued because he/she shall be deemed to have closed early and without due authorization. This is important as it ensures that employees are accountable for their working hours and follows the proper protocols for leaving the workplace. It also serves as a reminder to employees of the importance of signing out and obtaining proper authorization before leaving. Additionally, unauthorised early closure attracts stiffer penalties to discourage employees from leaving early without proper authorization. Therefore, both statements are correct and justify the issuance of a caution letter in such cases.

Payables shall only be created under the following conditions: if the immediate sources of repayment are known, if the financial obligation is not more than 60 days, and if it is created according to the operational manual and within the approved limit of EMC. This means that payables can be created when there is a clear plan for repayment, when the financial obligation is within a certain time frame, and when it is done in accordance with established guidelines and limits. Therefore, the correct answer is I, III and IV.

An annual leave shall be treated as absconding or abandonment of duty when there is an extension of the leave without proper documented communication and HR approval. This means that if an employee extends their leave without informing the HR department and obtaining the necessary approvals, it will be considered as absconding or abandonment of duty. It is important for employees to follow the proper procedures and communicate any changes in their leave plans to ensure smooth operations and maintain accountability.

The correct answer is 22nd of every month. This means that the subsidiary accountant is required to submit the schedule of receivable to CMC on the 22nd day of each month. This deadline allows CMC to have the necessary information about the company's receivables in a timely manner, enabling them to make informed decisions and manage their finances effectively.

The staff has worked for a total of 6 years (2 years + 4 years) and is eligible for terminal benefits. According to the given information, the staff will receive 20% of the monthly gross for 4 years. This means that for each year of the 4 years, the staff will receive 20% of their monthly gross salary as their terminal benefit.

The correct answer is N1,500,000. This is the capitalization amount for the fixed asset under plant and machinery; motor vehicle.

The statement is false because it states that at least one of the conditions laid out for the promotion policy must be met before promotion is granted. However, this implies that meeting one condition is sufficient for promotion, which may not be the case. It is possible that all conditions must be met before promotion is granted, making the statement false.

When inappropriate behavior in the workplace is not well-managed, it can lead to low morale among other employees, which can ultimately hinder the achievement of goals. Inappropriate behavior can create a negative work environment, causing employees to feel demotivated and less engaged in their work. This can result in decreased productivity and a lack of focus on achieving organizational goals. Additionally, when inappropriate behavior goes unchecked, it can lead to a disregard for constituted authority and create disputes among employees, further impeding the achievement of goals.

The correct answer is I and II. This is because the contract must be approved in the business plan or quarterly review plan, as well as receive special approval from EMC. The other conditions (III and IV) are not necessary for the contract to be implemented.

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An employee will be fined for each day of late resumption after the tolerable late resumption. This means that if an employee is late to the office for any number of days beyond the allowed limit, they will be fined for each of those days. The answer indicates that there is no specific number of times of late resumption required before the fine is imposed, rather it is applied for each individual day of late resumption.

The given answer states that the cadre is used to establish seniority and leadership hierarchy ladder. This means that the cadre system is utilized to determine the order of seniority among employees and to establish a hierarchy within the organization based on leadership positions. This indicates that the company's policy focuses on placing employees adequately in their positions by considering their seniority and leadership potential within the cadre system.

The correct answer is I and II. The admin department and the accounts department shall maintain and keep files of the company's fixed asset. This suggests that both departments are responsible for managing and documenting the company's fixed assets.

The correct answer is "I and III" because these values are mentioned explicitly in the given options. Option I states "Integrity and credibility" which aligns with JOMS core values. Option III states "Rendering quality service and respect for the system" which is also mentioned in the core values. Option II and IV are not mentioned in the given core values and are therefore not correct.

Action can be taken against an employee for an allegation of misconduct immediately upon confirmation of a raised allegation. This means that once the allegation has been investigated and verified, appropriate measures can be taken against the employee. It is not sufficient to take action solely based on the receipt of the allegation or the passing of information to HR. The confirmation of the raised allegation is crucial in order to ensure fairness and accuracy in addressing the misconduct.

The purpose of the company's disciplinary procedure is not to cover all disciplinary issues that apply to employees. This means that the disciplinary procedure does not aim to address every possible disciplinary issue that may arise. Instead, it serves to set out the company's position and procedures on workplace discipline, provide a mechanism for dealing with disciplinary matters promptly, fairly, and consistently, and encourage employees to maintain high standards of conduct and behavior.

An employee will be advised to resign on committing physical assault for the first time because physical assault is a serious offense that violates the safety and well-being of others in the workplace. It shows a lack of respect for colleagues and can create a hostile work environment. Resignation may be advised to ensure the safety of other employees and maintain a positive work atmosphere.

The correct answer is "As per performance appraisal result once every year as per DIPER principles." This answer is supported by the statement in the question that salary increment shall be granted to deserving employees (officers and above) based on their performance appraisal result. It specifies that the increment will be given once every year, following the DIPER principles. The other options mentioned in the question, such as quarterly increments, EMC decisions, and industry benchmarking, are not mentioned as criteria for salary increment in the given statement. Therefore, the correct answer is the one that aligns with the information provided.

The Cost Management Committee is responsible for negotiating the terms and conditions to engage a recruitment/hiring consultant. This committee is specifically focused on managing costs and ensuring efficiency in the hiring process. They would be responsible for evaluating the financial aspects of hiring a consultant and determining the best approach to sourcing quality candidates. The HR Manager may be involved in the process, but the ultimate responsibility lies with the Cost Management Committee.

The approved bonus will be communicated to the staff by EMC.

The explanation for the given correct answer, which is False, is that not all the conditions laid out for the demotion policy need to be met before granting demotion. This implies that there may be cases where some conditions are not necessary or sufficient for demotion to be granted.

The correct answer is N500,000. This means that if the procurement of materials exceeds N500,000, the Contract/Tender Committee must convene a meeting. This threshold ensures that larger procurement decisions are made with the input and approval of a committee, rather than being solely determined by one individual.

An employee who has been accused of misconduct has the right to be made aware of the matters under investigation, the anticipated time-scale for reaching a verdict, and their rights to representation during meetings to discuss the areas of concern. Therefore, none of the above options shall be excluded as rights of the accused employee.

Before the recruitment process can commence, all of the forms mentioned in the options must be filled. The SPR (Staff Personnel Requisition) form is necessary to initiate the recruitment process and provide details about the position to be filled. The Job Description form outlines the responsibilities, qualifications, and requirements for the role. The KPI (Key Performance Indicator) form defines the performance goals and expectations for the position. Lastly, the Department Organogram shows where the new employee will be placed within the organizational structure.

A risk that results in equipment idle time of one month is classified as a catastrophe. This implies that the risk is of a severe nature and has the potential to cause significant damage or loss. The term "catastrophe" suggests that the risk is highly impactful and could have serious consequences for the equipment and the operations relying on it.