This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 4 Planning – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 5 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the purpose of the legal and regulatory assessment in a feasibility study? A) To identify and examine legal and regulatory requirements. B) To assess potential risks. C) To estimate construction costs. D) To evaluate the market conditions. Show Answer Correct Answer: A) To identify and examine legal and regulatory requirements. 2. What component of a Business Plan outlines the company's goals and how they will be achieved? A) Executive Summary. B) Goals and Objectives. C) Financial Plan. D) Organizational Plan. Show Answer Correct Answer: B) Goals and Objectives. 3. Strategic planning is meant for ..... goals A) Part-time. B) Immediate. C) Long-term. D) Short-term. Show Answer Correct Answer: C) Long-term. 4. Details regarding how many staff the business will need to employ, their pay rates and job descriptions would be found in which section of a business plan? A) Finance. B) Marketing. C) Human resources. D) Operations. Show Answer Correct Answer: C) Human resources. 5. Operational planning is for ..... goals. A) Distant. B) Short-term. C) Future. D) Long-term. Show Answer Correct Answer: B) Short-term. 6. Statement I:Objectives represent the end point of planning. Statement II:A strategy provides the broad contours of an organisation's business. A) Both the Statements I and II are not correct. B) Statement I is correct and Statement II is not correct. C) Statement II is correct and Statement I is not correct. D) Both the Statements I and II are correct. Show Answer Correct Answer: D) Both the Statements I and II are correct. 7. Which step in the planning process involves coordinating event logistics, allocating resources, and creating a timeline? A) Implementation. B) Goal Setting. C) Generating Alternatives. D) Situational Analysis. Show Answer Correct Answer: A) Implementation. 8. What does the unity of command mean? A) Each employee reports to one-and only one-supervisor at a time or for a particular task. B) The examination of the organization's internal strengths and weaknesses. C) The right to make decisions about work assignments and to require other employees to perform assigned tasks. D) The authority given to individual employees to make decisions and solve problems they encounter on their jobs. Show Answer Correct Answer: A) Each employee reports to one-and only one-supervisor at a time or for a particular task. 9. Assertion (A):Planning Process comes to an end with the drafting of main and supportive plans. Reason (R):Employees are to be communicated about the various plans made by the managers. A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true but R is not the correct explanation of A. C) A is true but R is false. D) A is false but R is true. Show Answer Correct Answer: A) Both A and R are true and R is the correct explanation of A. 10. The Coca-Cola factory in South Korea produces a range of products on its production lines. An individual production line may produce Diet Coke one day and then be switched to Fanta the next. Cans move along a conveyor belt producing items in a continually moving process. The production method used by Coca-Cola is: A) Job production. B) Batch production. C) Flow production. D) Mass customisation. Show Answer Correct Answer: C) Flow production. 11. A manufacturer of MP3 players wishes to increase its added value. Which of the following changes are likely to increase the added value?(i) redesigning the product to make it more aesthetically pleasing(ii) increasing promotion to build brand loyalty(iii) paying administrative employees less A) (i) only. B) (i) and (ii). C) (ii) and (iii). D) (i), (ii) and (iii). Show Answer Correct Answer: B) (i) and (ii). 12. Which of the following is a disadvantage of a partnership related to contracts? A) Pooling of capital resources. B) Pooling of skills. C) Reduces competition. D) Bound by contracts of partners. Show Answer Correct Answer: D) Bound by contracts of partners. 13. When uncertainty is high and managers must be flexible in order to respond to unexpected changes, directional plans are preferable. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 14. What type of trend is caused by changes in the characteristics of a population? A) Competitive trend. B) Demograpic trend. C) All the above. D) None of the above. Show Answer Correct Answer: B) Demograpic trend. 15. Which of the following quality a manager must possess to succeed in planning? A) Reflective thinking. B) Imagination. C) Farsightedness. D) All of these. Show Answer Correct Answer: D) All of these. 16. Which of the following is a common business planning tool? A) Periodic Table. B) Pythagorean Theorem. C) Morse Code. D) SWOT Analysis. Show Answer Correct Answer: D) SWOT Analysis. 17. Making sure the business does not overspend or go over their budget. A) Organizing. B) Leading. C) Planning. D) Controlling. E) Staffing. Show Answer Correct Answer: D) Controlling. 18. The traditional business system is called as ..... A) Effective method. B) Legacy method. C) Advanced method. D) Modern method. Show Answer Correct Answer: B) Legacy method. 19. What is the role of an 'executive summary' in a business plan? A) To provide a brief overview of the entire business plan. B) To detail the company's financial projections. C) To describe the company's organizational structure. D) To outline the company's marketing strategy. Show Answer Correct Answer: A) To provide a brief overview of the entire business plan. 20. A mission statement is used to express a companies A) Policies & procedures. B) Budget & finances. C) Aims & values. D) Hiring & training. Show Answer Correct Answer: C) Aims & values. 21. Data mining is a powerful new technology to ..... from large databases. A) Retrieving data. B) Extraction of hidden predictive information. C) Generating reports. D) Show result. Show Answer Correct Answer: B) Extraction of hidden predictive information. 22. Which of the following is NOT an advantage of a corporation? A) Government regulations. B) Stockholders not liable. C) Ownership easily transferred. D) Long business life. Show Answer Correct Answer: A) Government regulations. 23. The most important step of ERP implementation is ..... phase A) Installing. B) Training. C) Gap analysis. D) Testing. Show Answer Correct Answer: C) Gap analysis. 24. Batch production is defined as: A) Producing identical products in batches. B) The use of fl exible computer-aided production systems. C) Producing items in a continually moving process. D) Producing items in batches in which every item in the batch passes through one stage of production before the batch moves on to the next stage. Show Answer Correct Answer: D) Producing items in batches in which every item in the batch passes through one stage of production before the batch moves on to the next stage. 25. ..... is the general response to a particular problem or situation. A) Rule. B) Objectives. C) Strategy. D) Policy. Show Answer Correct Answer: D) Policy. 26. What is a corporation? A) A business owned by a single individual. B) A business owned by a group of people and legally recognized as a separate entity. C) A business owned by the government. D) A business owned by a non-profit organization. Show Answer Correct Answer: B) A business owned by a group of people and legally recognized as a separate entity. 27. What is the purpose of feasibility studies? A) To monitor project costs throughout its duration. B) To determine the financial and technical viability of a project. C) To estimate ongoing costs of a project. D) To assess potential cost overruns. Show Answer Correct Answer: B) To determine the financial and technical viability of a project. 28. Career planning starts with- A) Assessing your skills and talents. B) Deciding how much you want to earn. C) Determining the hours you work. D) Listing your past jobs. Show Answer Correct Answer: A) Assessing your skills and talents. 29. Which term refers to the financial forecast in a business plan? A) Executive Summary. B) Market Analysis. C) Company Description. D) Cash Flow Projection. Show Answer Correct Answer: D) Cash Flow Projection. 30. Why is it important to research the market? A) To find out the percentage of customers preferred method of payment. B) To identify potential competitors. C) To become an expert in the industry. D) All of the above. Show Answer Correct Answer: D) All of the above. 31. Increasing sales by 10% in the next quarter is an important type of plan. Identify the type of plan. A) Programme. B) Strategy. C) Policy. D) Objective. Show Answer Correct Answer: D) Objective. 32. What does the financial feasibility study help determine? A) The environmental impact of the project. B) The project's profitability and return on investment. C) The legal and regulatory requirements. D) The technical challenges associated with the project. Show Answer Correct Answer: B) The project's profitability and return on investment. 33. What out of the following is the example of objective? A) Raising sales up to 5000 crore. B) Giving employment to 1000 people. C) Raising income by 3%. D) All of these. Show Answer Correct Answer: D) All of these. 34. The Internet has led to Global services A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 35. Matt is a highly skilled professional in his industry, overseeing various aspects of his company's business operations. A) Engineer. B) Teacher. C) Manager. D) Businessman. Show Answer Correct Answer: C) Manager. 36. Grace is tasked with leading a team to launch a new product. She must utilize resources effectively to achieve the project goals through planning, organizing, leading, and controlling the team's progress. A) Management. B) Finance. C) Leading. D) Marketing. Show Answer Correct Answer: A) Management. 37. Identify the type of plan indicated by the above sign:Vishesh Constructions, a construction company, decided to strictly implement 'No Helmet, No Entry' and put the following sign at their construction sites: A) Programme. B) Method. C) Policy. D) Rule. Show Answer Correct Answer: D) Rule. 38. In an uncertain environment, managers should develop plans that are specific, but flexible. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 39. Statement I:Planning is a continuous process. Statement II:Once plans are framed and implemented, they need to be followed by new plans according to the new requirements. A) Statement II is correct and Statement I is not correct. B) Both the Statements I and II are correct. C) Both the Statements I and II are not correct. D) Statement I is correct and Statement II is not correct. Show Answer Correct Answer: B) Both the Statements I and II are correct. 40. Operating history is most likely to be found in A) Marketing Plan. B) Executive Summary. C) Business Profile. D) Operations Plan. Show Answer Correct Answer: C) Business Profile. 41. What is included in the market analysis of a feasibility study? A) Identifying legal and regulatory hurdles. B) Assessing the technical requirements of the project. C) Evaluating the demand, competition, and potential market size. D) Estimating ongoing costs and projected revenues. Show Answer Correct Answer: C) Evaluating the demand, competition, and potential market size. 42. How are goals usually expressed? A) As a percentage. B) As specific actions and measures. C) As the main reason for the organization's existence. D) As the desired future position of the company. Show Answer Correct Answer: A) As a percentage. 43. Technology like computers and assembly lines A) Make buying and selling more efficient. B) Make buying and selling less efficient. C) All the above. D) None of the above. Show Answer Correct Answer: A) Make buying and selling more efficient. 44. This represent the end point of planning. A) Objectives. B) Rules. C) Methods. D) Policies. Show Answer Correct Answer: A) Objectives. 45. William is planning a trip for the upcoming year and needs to create a detailed plan that summarizes expected income and expenses over a specific period of time. A) Forecast. B) Schedule. C) Plan. D) Budget. Show Answer Correct Answer: D) Budget. 46. Which of the following is a drawback of business planning? A) Reduces risk by providing a guide for the business. B) The plan will need to be constantly updated. C) It will help to secure any finance required. D) Allows the business to review its progress. Show Answer Correct Answer: B) The plan will need to be constantly updated. 47. What is one of the disadvantages of a sole proprietorship related to resources? A) Have to use own resources. B) Ease of decision-making. C) Full claim to profits. D) Full claim to assets. Show Answer Correct Answer: A) Have to use own resources. 48. A business makes a profit when: A) Total revenue is greater than total variable costs. B) Total revenue is less than total costs. C) Total revenue is less than total fixed costs. D) Total revenue is greater than total costs. Show Answer Correct Answer: D) Total revenue is greater than total costs. 49. A manager interviewing potential job candidates. A) Leading. B) Controlling. C) Organizing. D) Planning. E) Staffing. Show Answer Correct Answer: E) Staffing. 50. 10) ..... feasibility analysis is a quick assessment of the viability of an event idea. A) Institutional. B) Organizational. C) Financial. D) Product/service. E) Industry/market. Show Answer Correct Answer: C) Financial. 51. Statement I:A budget is a statement of expected results expressed in numerical terms. It is a plan which quantifies future facts and figures. Statement II:A budget is also a control device from which deviations can be taken care of. A) Both the Statements I and II are not correct. B) Both the Statements I and II are correct. C) All the above. D) None of the above. Show Answer Correct Answer: B) Both the Statements I and II are correct. 52. In a Business Plan, which component details the structure and management of the business? A) Organizational Plan. B) Financial Plan. C) Marketing Plan. D) Business Description. Show Answer Correct Answer: A) Organizational Plan. 53. The company should conduct a ..... about the implementation and implementation strategies. A) Survey. B) Test. C) Feasibility study. D) Case study. Show Answer Correct Answer: C) Feasibility study. 54. Which term refers to the process of gathering and analyzing information about competitors? A) Customer Profiling. B) Competitive Analysis. C) Industry Benchmarking. D) Market Segmentation. Show Answer Correct Answer: B) Competitive Analysis. 55. Provides guidance to employees to perform their job successfully. A) Controlling. B) Planning. C) Leading. D) Organizing. E) Staffing. Show Answer Correct Answer: C) Leading. 56. What does SMART stand for in goal setting? A) Simple, Measurable, Achievable, Realistic, Timely. B) Specific, Measurable, Achievable, Realistic, Time-bound. C) Specific, Measurable, Attainable, Relevant, Time-bound. D) Strategic, Measurable, Actionable, Relevant, Time-bound. Show Answer Correct Answer: C) Specific, Measurable, Attainable, Relevant, Time-bound. 57. What is the purpose of a 'competitive analysis' in a business plan? A) To evaluate the strengths and weaknesses of competitors. B) To determine the company's financial health. C) To outline the company's marketing strategy. D) To describe the company's organizational structure. Show Answer Correct Answer: A) To evaluate the strengths and weaknesses of competitors. 58. What is the purpose of a PEST analysis in situational analysis? A) To analyze the internal environment of a business. B) To analyze market trends and competition. C) To analyze strengths, weaknesses, opportunities, and threats. D) To analyze political, economic, sociocultural, and technological factors. Show Answer Correct Answer: D) To analyze political, economic, sociocultural, and technological factors. 59. What should you mainly consider for marketing? A) All the different types of products and services. B) Promotion through newspaper and emails. C) Your target customers and promotion of the product or service. D) None of the above. Show Answer Correct Answer: C) Your target customers and promotion of the product or service. 60. Selling price x quantity is the formula for which of the following? A) Total costs. B) Revenue. C) Profit. D) Variable costs. Show Answer Correct Answer: B) Revenue. ← PreviousNext →Related QuizzesCommerce QuizzesClass 12 QuizzesClass 12 Business Studies Chapter 4 Planning Quiz 1Class 12 Business Studies Chapter 4 Planning Quiz 2Class 12 Business Studies Chapter 4 Planning Quiz 3Class 12 Business Studies Chapter 4 Planning Quiz 4Class 12 Business Studies Chapter 4 Planning Quiz 6Class 12 Business Studies Chapter 4 Planning Quiz 7Class 12 Business Studies Chapter 1 Nature And Significance Of Management QuizClass 12 Business Studies Chapter 10 Financial Markets Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books