This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 4 Planning – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 3 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Rewards employees with monetary incentives when they do a job well done. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: C) Leading. 2. What is a mission statement? A) A written description of the nature of the business, its goals and objectives, and how they will be achieved. B) The examination of the organization's internal strengths and weaknesses. C) A short and specific statement of the business's purpose and direction. D) The company's reason for existing. Show Answer Correct Answer: C) A short and specific statement of the business's purpose and direction. 3. Creating a new menu to meet increasing demand for healthy food. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: A) Planning. 4. Benjamin is trying to choose the best vacation destination that meets his needs for relaxation and adventure. A) Decision-making process. B) Problem-solving process. C) Communication process. D) Planning process. Show Answer Correct Answer: A) Decision-making process. 5. What does SWOT stand for in business planning? A) Strengths, Weaknesses, Opportunities, Threats. B) Sales, Wages, Operations, Taxes. C) Strategy, Work, Objectives, Targets. D) Systems, Workflow, Output, Technology. Show Answer Correct Answer: A) Strengths, Weaknesses, Opportunities, Threats. 6. ..... involves defining the organization's goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate work activities. A) Execution. B) Logistics. C) Planning. D) Operations. Show Answer Correct Answer: C) Planning. 7. Which of the following is the formula for total costs? A) Total costs minus total variable costs. B) Total fixed costs plus total variable costs. C) Total costs plus total variable costs. D) Total fixed costs minus total variable costs. Show Answer Correct Answer: B) Total fixed costs plus total variable costs. 8. Who will run the show, how you will make a profit, what you will produce and how you will get customers are all part of a Business Plan A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 9. Assertion (A):Planning is a futuristic function. Reason (R):Planning is never done in the past. 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. What is the first thing you need to do before starting a business? A) Find your big idea. B) Find money. C) Find a newspaper. D) None of the above. Show Answer Correct Answer: A) Find your big idea. 11. These are the "good things" in your business environment. A) Weaknesses. B) Strengths. C) Technical Feasibility. D) Threats. E) Opportunities. Show Answer Correct Answer: E) Opportunities. 12. In which step of planning process The best and non feasible plan will be choosen to be implemented. A) Selecting an alternative. B) Developing premises. C) Evaluating alternative course of action. D) Setting up objective. Show Answer Correct Answer: A) Selecting an alternative. 13. Assertion (A):Planning reduces overlapping and wasteful activities. Reason (R):Departmental plans have nothing to do with the main organisational plan. 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. What is a 'value proposition'? A) A statement that explains why a customer should choose a product or service. B) A detailed list of product features. C) A summary of the company's financial goals. D) A description of the company's history. Show Answer Correct Answer: A) A statement that explains why a customer should choose a product or service. 15. What is the cost of making each product or providing each hour of service? A) Profits and expenses. B) Cost per unit. C) Business plan. D) None of the above. Show Answer Correct Answer: B) Cost per unit. 16. ..... oversee the day-to-day operations of respective functional areas during ERP implementation. A) Consultant. B) Package vendor. C) End users. D) Functional managers. Show Answer Correct Answer: D) Functional managers. 17. Benjamin is tasked with ensuring that his team effectively utilizes all available resources and coordinates their activities to achieve the project's objectives. A) Planning. B) Organizing. C) Controlling. D) Leading. Show Answer Correct Answer: B) Organizing. 18. What is a 'business model'? A) A plan for how a company creates, delivers, and captures value. B) A detailed description of the company's products. C) A list of the company's employees. D) A summary of the company's financial performance. Show Answer Correct Answer: A) A plan for how a company creates, delivers, and captures value. 19. The planning acronym DECIDE helps in the ..... processes. A) Decision. B) Schedule. C) Training. D) Hiring. Show Answer Correct Answer: A) Decision. 20. Sarah is tasked with creating a detailed plan to meet the project goals by analyzing information, setting timelines, and making decisions. A) Project Management. B) Controlling. C) Organizing. D) Planning. Show Answer Correct Answer: D) Planning. 21. Emma is a project manager at a tech company. She needs to develop a comprehensive plan for the upcoming year. Name 3 different types of Planning that she should consider. A) Strategic, Tactical, Operational. B) Strategic, Tactical, Financial. C) Strategic, Tactical, Marketing. D) Strategic, Tactical, Sales. Show Answer Correct Answer: A) Strategic, Tactical, Operational. 22. Keeping track of what goods are profitable and eliminating ones that aren't. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: D) Controlling. 23. What does 'KPIs' stand for in business terminology? A) Key Performance Indicators. B) Knowledge Process Indicators. C) Key Product Insights. D) Knowledge Performance Index. Show Answer Correct Answer: A) Key Performance Indicators. 24. Assertion (A):Rules are usually the simplest type of plans. Reason (R):Because there is no compromise or change unless a policy decision is taken. 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. Statement I:If there was no planning, employees would be working in different directions and the organisation would not be able to achieve its desired goals. Statement II:Planning cannot eliminate but only anticipate changes an uncertain events. A) Both the Statements I and II are 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 not correct. Show Answer Correct Answer: A) Both the Statements I and II are correct. ← 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 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