This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Business Studies > Class 12 Business Studies Chapter 4 Planning – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 7 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What does a business plan describe? A) The nature of the business and its operations. B) The marketing strategies only. C) The financial planning alone. D) The list of competitors. Show Answer Correct Answer: A) The nature of the business and its operations. 2. Which term refers to the analysis of a company's strengths, weaknesses, opportunities, and threats? A) Porter's Five Forces. B) PEST Analysis. C) Balanced Scorecard. D) SWOT Analysis. Show Answer Correct Answer: D) SWOT Analysis. 3. Assertion (A):Planning is concerned with a predetermined course of action. Reason (R):It states what is to be done, how is to be done in advance thereby providing direction for action. 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. 4. Which one of the following is among the reasons why managers should plan? A) When work activities are coordinated around plans, inefficiencies become obvious. B) Uncertainty can be eliminated and the organization can be insulated from change withplanning. C) Planning eliminates the need to set goals. D) Planning eliminates the need to measure work effort. Show Answer Correct Answer: A) When work activities are coordinated around plans, inefficiencies become obvious. 5. Assertion (A):Planning is basically an intellectual activity of thinking rather than doing. Reason (R):Planning requires application of the mind involving foresight, intelligent imagination and sound judgement. 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. 6. Which of the following is NOT a role of an Entrepreneur? A) Preparing Vacation Leave. B) Conceptualizing. C) Accessing finance. D) Doing Research. Show Answer Correct Answer: A) Preparing Vacation Leave. 7. What is "Global Economy" ? A) Worldwide Markets. B) National Markets. C) All the above. D) None of the above. Show Answer Correct Answer: A) Worldwide Markets. 8. What are the disadvantages of a business plan? A) Not 100% accurate. B) Reduced brand image if business didn't have one. C) Shows potential future problems. D) Shows how the business will be run. Show Answer Correct Answer: A) Not 100% accurate. 9. The reason we import goods and services is- A) We don't make them efficiently ourselves. B) We make them efficiently ourselves. C) All the above. D) None of the above. Show Answer Correct Answer: A) We don't make them efficiently ourselves. 10. Assertion (A):Planning does not guarantee success. Reason (R):Managers have a tendency to rely on previously tried and tested successful plans. It is not always true that just because a plan has worked before it will work again. 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. ← PreviousRelated 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 5Class 12 Business Studies Chapter 4 Planning Quiz 6Class 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