This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 4 Planning – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 4 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Statement I:Single-use and standing plans are part of the operational planning process. Statement II:Strategy is neither a single-use plan nor a standing plan. 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: C) Statement II is correct and Statement I is not correct. 2. Planning is concerned with how objectives are to be accomplished, not what is to be accomplished A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 3. Planning involves decision Making A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 4. What are the three main components of a business description? A) Products or services, creators of the business, location of the business. B) Marketing strategy, financial plan, location of the business. C) Creators of the business, financial plan, marketing strategy. D) None of the above. Show Answer Correct Answer: B) Marketing strategy, financial plan, location of the business. 5. Statement I:Procedures provide the manner in which a task has to be performed. Statement II:Rules are very clearly stated as to exactly what has to be done like reporting for work at a particular time. 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. 6. What is the chain of command? A) The examination of the organization's internal strengths and weaknesses. B) The hierarchy of the organization, from the highest level to the lowest level. C) The obligation to accept responsibility for the outcomes of assigned tasks. D) The right to make decisions about work assignments and to require other employees to perform assigned tasks. Show Answer Correct Answer: B) The hierarchy of the organization, from the highest level to the lowest level. 7. Which one of the following is not an element of planning: A) Rules. B) Programme. C) Objectives. D) Staffing. Show Answer Correct Answer: D) Staffing. 8. Material Requirement Planning(MRP) utilizes software applications for scheduling ..... A) Sales management. B) Human resource management. C) Marketing techniques. D) Production processes. Show Answer Correct Answer: D) Production processes. 9. Efficiency may be defined as: A) A firm's ability to turn inputs into outputs. B) The ability of a firm to meet its objectives by using inputs productively to meet the needs of customers. C) A firm's ability to reduce its labour needs. D) A firm's ability to make profit. Show Answer Correct Answer: A) A firm's ability to turn inputs into outputs. 10. A written description of a business venture that describes all aspects of the business is called A) A company charter. B) A company policy. C) A business plan. D) An executive summary. Show Answer Correct Answer: C) A business plan. 11. How much will you make on each sale after you subtract your expenses is called: A) Profit or revenue. B) Costs or expenses. C) All the above. D) None of the above. Show Answer Correct Answer: A) Profit or revenue. 12. Which analysis is included in a marketing plan to understand the market segment you are targeting? A) SWOT analysis. B) Target market analysis. C) Financial analysis. D) Risk analysis. Show Answer Correct Answer: B) Target market analysis. 13. Taking corrective action when a plan goes wrong. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: D) Controlling. 14. What does SWOT stand for in situational analysis? A) Strategies, Weaknesses, Objectives, Tactics. B) Strengths, Weaknesses, Objectives, Targets. C) Strategies, Weaknesses, Opportunities, Tactics. D) Strengths, Weaknesses, Opportunities, Threats. Show Answer Correct Answer: D) Strengths, Weaknesses, Opportunities, Threats. 15. Google have ask to employees to work from home till July 2021 this is an example of A) Planning is futuristic. B) Planning looks into the future and reduces uncertainty. C) Both. D) None of the above. Show Answer Correct Answer: C) Both. 16. Assertion (A):Planning leads to Unity of Direction. Reason (R):Employees know in advance in which direction they have to work. 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. What does the 'T' in SMART goal format stand for? A) Timely. B) Tangible. C) Trackable. D) Transparent. Show Answer Correct Answer: A) Timely. 18. A manager assigns a section of tables for each of his servers to wait on. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: B) Organizing. 19. Which of the following is NOT a component of a marketing plan as mentioned in the document? A) Analysis of customer need for your product or service. B) Analysis of competition. C) Target market analysis. D) Financial statement analysis. Show Answer Correct Answer: D) Financial statement analysis. 20. Which of the following best describes a business plan? A written document that describes: A) The business, its objectives, strategies, financial forecasts and market. B) The marketing plan of the business. C) The objectives and key targets of the business. D) How the business will produce its products. Show Answer Correct Answer: A) The business, its objectives, strategies, financial forecasts and market. 21. What is SWOT analysis? A) The examination of an 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 time plan for reaching objectives. D) The specific measure against which something is judged. Show Answer Correct Answer: A) The examination of an organization's internal strengths and weaknesses. 22. What is the primary objective of cost planning? A) Risk management. B) Early cost prediction. C) Value engineering. D) Resource allocation. Show Answer Correct Answer: B) Early cost prediction. 23. Assertion (A):Planning is futuristic. Reason (R):Planning is regarded as a forward looking function based on forecasting. 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. 24. In which section of the business plan would you expect to find details about market size and market research? A) Objectives and key targets. B) Cash flow forecast. C) Market overview. D) Forecast revenue, costs and profit. Show Answer Correct Answer: C) Market overview. 25. Statement I:Rules are guides to managerial action and decisions in the implementation of strategy. Statement II:Policies define the broad parameters within which a manager may function. A) Statement I is correct and Statement II is not correct. B) Both the Statements I and II are not correct. C) Statement I is incorrect and Statement II is correct. D) Both the Statements I and II are correct. Show Answer Correct Answer: D) 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 3Class 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