This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 4 Planning – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 15 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Most businesses have only the single goal of making profits A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 2. Which of the following is not likely to increase productivity levels? A) Extra training given to employees. B) Improving worker motivation. C) Investing in capital equipment. D) Reducing pay of production workers. Show Answer Correct Answer: D) Reducing pay of production workers. 3. Planning performed at A) Top level. B) Moddle level. C) Supervising level. D) All levels. Show Answer Correct Answer: D) All levels. 4. Operational plans are usually ..... A) Short term, directional, and standing. B) Short term, specific, and standing. C) Long term, directional, and single use. D) Long term, specific, and standing. Show Answer Correct Answer: B) Short term, specific, and standing. 5. Which of the following is one of the main things to consider when evaluating a business opportunity? A) Customer demand for the product. B) Style and entertainment trends. C) The mission statements of competitors. D) None of the above. Show Answer Correct Answer: A) Customer demand for the product. 6. Who will point out the issues that are specific to the company during ERP implementation? A) In-house team. B) Management. C) Vendor. D) End user. Show Answer Correct Answer: A) In-house team. 7. Planning eahtablish base or standard for A) Organising. B) Staffing. C) Directing. D) Controlling. Show Answer Correct Answer: D) Controlling. 8. Which of the following is an advantage to a new business start-up of producing a business plan? A) It will guarantee survival. B) It will help test financial viability. C) It will ensure sales targets are met. D) It will not need to be referred to again by the business owner. Show Answer Correct Answer: B) It will help test financial viability. 9. What would be a potential threat to a business? A) Changes in technology and markets e.g. The internet. B) Ability to prioritize. C) Flexibility. D) Intrusions in the market. Show Answer Correct Answer: D) Intrusions in the market. 10. A written document that describes an idea for a product or service and how it will make money. A) List of Expenses. B) Startup Costs. C) Business Plan. D) None of the above. Show Answer Correct Answer: C) Business Plan. 11. What does the SMART acronym stand for? A) Specific, Measurable, Actionable, Relevant, Time-bound. B) Structured, Measured, Achievable, Realistic, Timely. C) Strategic, Meaningful, Ambitious, Resourceful, Targeted. D) Simplified, Managed, Adapted, Reviewed, Tracked. Show Answer Correct Answer: A) Specific, Measurable, Actionable, Relevant, Time-bound. 12. What is a procedure? A) The examination of the organization's internal strengths and weaknesses. B) A sequence of steps to be followed for performing a specific task. C) A time plan for reaching objectives. D) The specific measure against which something is judged. Show Answer Correct Answer: B) A sequence of steps to be followed for performing a specific task. 13. Assertion (A):Proper Planning always guarantees success. Reason (R):Highly qualified professionals are appointed for carrying out the planning process. 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. 14. Period of ..... was also known as Dark Ages. A) Phoenicians. B) Roman Merchants. C) Renaissance. D) California Gold Rush. Show Answer Correct Answer: B) Roman Merchants. 15. Which of the following is an example of a goal expressed quantitatively? A) Sales. B) Customer satisfaction. C) Employee engagement. D) Brand awareness. Show Answer Correct Answer: A) Sales. 16. Assertion (A):Time is an important ingredient of Planning. Reason (R):Plans are always developed for a fixed time period as no business can go on planning endlessly. 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. 17. ERP package will handle ..... business functionalities A) One. B) Two. C) Three. D) All. Show Answer Correct Answer: D) All. 18. An information system produces information using the ..... cycle. A) Data analysis. B) Input-process-output. C) Input-output. D) Process-input-output. Show Answer Correct Answer: B) Input-process-output. 19. How many components are there in a business plan? A) 10. B) 14. C) 11. D) 12. Show Answer Correct Answer: C) 11. 20. Assertion (A):Monitoring of plans is very important to ensure that the plans are being implemented according to the schedule. Reason (R):Regular checks and comparisons of the results with set standards are done to ensure that objectives are achieved. 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. 21. Assertion (A):Plans ensure clarity of thoughts and action. Reason (R):Planning process forces the managers to think differently. 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. 22. 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. 23. Which term refers to the analysis of a company's strengths, weaknesses, opportunities, and threats? A) SWOT Analysis. B) PEST Analysis. C) Porter's Five Forces. D) Balanced Scorecard. Show Answer Correct Answer: A) SWOT Analysis. 24. 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. 25. 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. ← 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 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books