This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 4 Planning – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 2 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is a synonym for 'feasibility' in the context of business planning? A) Viability. B) Flexibility. C) Profitability. D) Sustainability. Show Answer Correct Answer: A) Viability. 2. The I in the DECIDE acronym stands for A) Identify pros & cons. B) Increase options. C) Involve stakeholder. D) Include budget. Show Answer Correct Answer: A) Identify pros & cons. 3. A toy store recruits temporary workers for the holiday season. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: E) Staffing. 4. The use of scenario planning by business originated by ..... the early 1970s. A) IBM. B) McDonald. C) Shell. D) Marriot Hotel. Show Answer Correct Answer: C) Shell. 5. Assertion-Planning establishes standards for controlling Reason-Helps the manager to look into the future and make a choice from various alternative courses of action A) Both A and R are correct and R is the correct explanation for A. B) Both A and R are correct but R is not the correct explanation for A. C) Both A and R are wrong. D) A is wrong but R is correct. Show Answer Correct Answer: A) Both A and R are correct and R is the correct explanation for A. 6. Which of the following is NOT an element of a business plan A) Marketing plan. B) Prospectus. C) Operational plan. D) Executive Summary. Show Answer Correct Answer: B) Prospectus. 7. What out of the following is the focus of planning? A) Budget. B) Objectives. C) Programme. D) Rules. Show Answer Correct Answer: B) Objectives. 8. The amount of money you need to launch your business. A) Start-up costs. B) List of Expenses. C) Pricing. D) None of the above. Show Answer Correct Answer: A) Start-up costs. 9. What is the definition of a business plan? A) Helps with the planning of a business. B) Helps in setting out a businesses strategy and requirements it needs for the future. C) Used to create aims and objectives for the business. D) Is a document that a business will utilise when hiring new staff. Show Answer Correct Answer: B) Helps in setting out a businesses strategy and requirements it needs for the future. 10. Which project management skill involves sharing responsibilities? A) Negotiating. B) Delegating. C) Firing. D) Managing Up. Show Answer Correct Answer: B) Delegating. 11. Assertion (A):Planning essentially involves looking ahead and preparing for future through forecasting. Reason (R):Forecasting helps to anticipate future events and drawing up of plans. 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. 12. What is the term for a detailed analysis of the potential risks and rewards of a business decision? A) Risk Assessment. B) Cost-Benefit Analysis. C) SWOT Analysis. D) Market Research. Show Answer Correct Answer: B) Cost-Benefit Analysis. 13. Which step in the planning process involves selecting the most viable alternative based on evaluation? A) Goal Setting. B) Situational Analysis. C) Generating Alternatives. D) Decision Making. Show Answer Correct Answer: D) Decision Making. 14. Which of the following terms refers to a company's target market or audience? A) Demographic. B) Psychographic. C) Geographic. D) Segment. Show Answer Correct Answer: D) Segment. 15. The fixed costs of a business are £300, 000 per year and variable costs are £2.00 per unit.The business sells 200, 000 units per year at a selling price of £5.00. The profit made per year is: A) £300, 000. B) £600, 000. C) £1, 000, 000. D) £1, 500, 000. Show Answer Correct Answer: A) £300, 000. 16. What is responsibility? A) The obligation to do an assigned 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) The obligation to do an assigned task. 17. The primary concept of ..... is that storing huge amount of data. A) Data miningOLAP. B) OLAP. C) SCM. D) Data warehousing. Show Answer Correct Answer: D) Data warehousing. 18. A plan is framed, it is implemented and is followed by another plan on the basis of new requirements and future conditions. Which of the following best describes the above statement? A) Planning focuses on achieving objectives. B) Planning is continuous. C) Planning is futuristic. D) Planning is a mental exercise. Show Answer Correct Answer: B) Planning is continuous. 19. Assertion (A):Planning is a primary function of management. Reason (R):Planning is required at all levels of management as well as in all departments of the organisation. 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. 20. Which of these are NOT a type of data source? A) Primary. B) Elementary. C) Secondary. D) Tertiary. Show Answer Correct Answer: B) Elementary. 21. What is meant by 'market segmentation'? A) Dividing a market into distinct groups of buyers. B) Combining different markets into one. C) Analyzing the entire market as a whole. D) Ignoring market differences. Show Answer Correct Answer: A) Dividing a market into distinct groups of buyers. 22. In business vocabulary, what is a 'stakeholder'? A) A person who holds shares in a company. B) An individual or group with an interest in the company's success. C) A tool used for measuring business performance. D) A document outlining company policies. Show Answer Correct Answer: B) An individual or group with an interest in the company's success. 23. Which word describes a company's unique position in the market that sets it apart from competitors? A) Differentiation. B) Diversification. C) Integration. D) Segmentation. Show Answer Correct Answer: A) Differentiation. 24. Which of the following is a true statement about feasibility studies: A) They are not expensive to conduct. B) They are especially important for government projects. C) They are used by businesses in every industry. D) They are not useful for nonprofit organizations. Show Answer Correct Answer: C) They are used by businesses in every industry. 25. As managers plan, they develop both goals and plans. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. ← PreviousNext →Related QuizzesClass 12 Business Studies Chapter 4 Planning Quiz 1Class 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 10Class 12 Business Studies Chapter 4 Planning Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books