This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 4 Planning – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 10 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. An enterprise is a group of people with ..... A) Common goal. B) Separate goal for each department. C) Multiple goals. D) Two or more goals. Show Answer Correct Answer: A) Common goal. 2. Roman Merchants were known for? A) Making Silk. B) Building Lighthouses. C) Spreading Art. D) Ship Building. Show Answer Correct Answer: B) Building Lighthouses. 3. An assessment or evaluation of the practicality of a proposed plan or idea. A) Conceptualizing. B) Organizing. C) Operating. D) Feasibility. Show Answer Correct Answer: D) Feasibility. 4. Statement I:Procedures are routine steps on how to carry out activities; They detail the exact manner in which any work is to be performed. Statement II:Procedures are steps to be carried out within a broad policy framework. A) Statement II is correct and Statement I is not correct. B) Both the Statements I and II are correct. C) Statement I is correct and Statement II is not correct. D) Both the Statements I and II are not correct. Show Answer Correct Answer: B) Both the Statements I and II are correct. 5. An organized inquiry into the possible success of an idea or venture A) Operating expenses. B) Feasibility study. C) Start-up costs. D) Bias. Show Answer Correct Answer: B) Feasibility study. 6. Coming up with strategies to increase sales during the holiday season. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: A) Planning. 7. Accurate sales forecasts will help operations managers to achieve all of the following except: A) Keep stock levels to a minimum. B) Educe wastage of production. C) Maximise output. D) Match output closely to demand levels. Show Answer Correct Answer: C) Maximise output. 8. Statement I:Planning has no meaning unless it contributes to the achievement of predetermined organisational goals. Statement II:The other functions of management are not as important as planning because it provides the basis of all other functions. A) Statement I is correct and Statement II is not correct. B) Both the Statements I and II are 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. 9. In order to reduce the lead times, the organization should have an efficient ..... system. A) Purchasing. B) Production planning. C) Inventory. D) Integrated inventory. Show Answer Correct Answer: D) Integrated inventory. 10. What is competitive advantage? A) The examination of the organization's internal strengths and weaknesses. B) The special capabilities of a company that allow it to create a product or service that is measurably better than any competing company. C) A short and specific statement of the business's purpose and direction. D) The company's reason for existing. Show Answer Correct Answer: B) The special capabilities of a company that allow it to create a product or service that is measurably better than any competing company. 11. Which word describes the act of setting goals and determining the best way to achieve them? A) Planning. B) Executing. C) Monitoring. D) Evaluating. Show Answer Correct Answer: A) Planning. 12. Achievable or reachable A) Budget. B) Attainable. C) Drive. D) Impossible. Show Answer Correct Answer: B) Attainable. 13. Which term describes a company's unique selling proposition? A) Competitive Advantage. B) Market Share. C) Brand Equity. D) Customer Loyalty. Show Answer Correct Answer: A) Competitive Advantage. 14. Assertion (A):Rules are general statements that inform what is to be done. Reason (R):Rules do not allow for any flexibility or discretion. 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. 15. Mr. Slabaugh wants to formulate a plan that lays out general guidelines for his employees and leaves room for interpretation. Which one of the following types of plans would best suit his requirement? A) Informal. B) Specific. C) Directional. D) Standing. Show Answer Correct Answer: C) Directional. 16. In a company's SWOT analysis, which of the following is an example of a strength? A) A demographic trend increases demand for the company's product. B) The company's employees are efficient and productive. C) All the above. D) None of the above. Show Answer Correct Answer: B) The company's employees are efficient and productive. 17. A ..... is created by a consumer problem, need, or desire A) Competitive analysis. B) Business Opportunity. C) Financial Prediction. D) None of the above. Show Answer Correct Answer: B) Business Opportunity. 18. What is the term for a formal statement of a set of business goals and the plan for reaching those goals? A) Business Plan. B) Marketing Plan. C) Financial Plan. D) Operational Plan. Show Answer Correct Answer: A) Business Plan. 19. Motivates employees to get the job done. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: C) Leading. 20. Statement I:Methods provide the prescribed ways or manner in which a task has to be performed considering the objective. Statement II:Method deals with a task comprising one step of a procedure and specifies how this step is to be performed. A) Both the Statements I and II are not correct. B) Both the Statements I and II are correct. C) Statement II is correct and Statement I is 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. 21. 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. 22. 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. 23. Strategic planning is meant for ..... goals A) Long-term. B) Short-term. C) Immediate. D) Part-time. Show Answer Correct Answer: A) Long-term. 24. 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) Human resources. C) Marketing. D) Operations. Show Answer Correct Answer: B) Human resources. 25. Operational planning is for ..... goals. A) Long-term. B) Short-term. C) Future. D) Distant. Show Answer Correct Answer: B) Short-term. ← PreviousNext →Related 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 4 Planning Quiz 7Class 12 Business Studies Chapter 4 Planning Quiz 8Class 12 Business Studies Chapter 4 Planning Quiz 9Class 12 Business Studies Chapter 4 Planning Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books