This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 4 Planning – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 7 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Your company will need a business plan in order to do what? A) Increase revenue. B) Pay Taxes. C) Get Funding. D) None of the above. Show Answer Correct Answer: C) Get Funding. 2. What is one of the elements included in a financial plan to help visualize data? A) Charts. B) Text descriptions. C) Photographs. D) Case studies. Show Answer Correct Answer: A) Charts. 3. ..... approaches reduces data redundancy and provide update information. A) Legacy system. B) Information system. C) Integrated data model. D) Data base. Show Answer Correct Answer: C) Integrated data model. 4. GIGO means: A) Great Internal Gaming Organisation. B) Grand Institute of Gaining Operations. C) Garbage In Garbage Out. D) Great Information Gathering Out there. Show Answer Correct Answer: C) Garbage In Garbage Out. 5. The spoken version of your company's purpose is called ..... A) Vision statement. B) Elevator pitch. C) All the above. D) None of the above. Show Answer Correct Answer: B) Elevator pitch. 6. Statement I:Planning is purposeful. Statement II:Planning is pervasive. A) Both the Statements I and II are not correct. B) Statement II is correct and Statement I is not correct. C) Both the Statements I and II are correct. D) Statement I is correct and Statement II is not correct. Show Answer Correct Answer: B) Statement II is correct and Statement I is not correct. 7. Which of the following is an advantage of job production relative to batch production? A) Which of the following is an advantage of job production relative to batch production?. B) It provides the opportunity to take advantage of economies of scale. C) There is greater division of labour. D) It allows a higher level of demand to be met. Show Answer Correct Answer: A) Which of the following is an advantage of job production relative to batch production?. 8. What is one of the key elements of a marketing plan according to the document? A) Product design. B) Analysis of competition. C) Employee training. D) Supply chain management. Show Answer Correct Answer: B) Analysis of competition. 9. If a company's scope is too big, what is likely to happen? A) Employees will have better morale. B) The company will lose direction and focus. C) All the above. D) None of the above. Show Answer Correct Answer: B) The company will lose direction and focus. 10. Which term refers to a detailed plan outlining the actions needed to reach one or more goals in business? A) Strategy. B) Tactic. C) Objective. D) Vision. Show Answer Correct Answer: A) Strategy. 11. Mass customisation is defined as: A) Producing a one-off item specially designed for the customer. B) Producing items to meet individual customer requirements at mass-production levels. C) Producing a limited number of identical products. D) Producing items in a continually moving process. Show Answer Correct Answer: B) Producing items to meet individual customer requirements at mass-production levels. 12. Which of the following is not a problem associated with making a change from job to batch production? A) The increased working capital cost needed to finance stocks. B) The increased capital cost of machinery. C) Staff demotivation. D) Increasing unit costs. Show Answer Correct Answer: D) Increasing unit costs. 13. What is considered the key to managing up in project management? A) Sharing responsibilities. B) Fostering a workable agreement. C) Communication. D) Making quick decisions. Show Answer Correct Answer: C) Communication. 14. A feasibility study can form a solid foundation for which of the following business documents: A) Business plan. B) Income statement. C) Balance sheet. D) Annual sales report. Show Answer Correct Answer: A) Business plan. 15. Compare costs and benefits of advertising campaigns, and make adjustments accordingly. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: D) Controlling. 16. Which of the following is an advantage of a sole proprietorship related to decision-making? A) Owner may lack skills. B) Long hours. C) Ease of decision-making. D) Liability and risk of ownership. Show Answer Correct Answer: C) Ease of decision-making. 17. Analyzing accounting records and making changes if financial standards are not being met. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: D) Controlling. 18. .... gives a complete detail of doing a particular activity. A) Procedure. B) Budget. C) Programme. D) Method. Show Answer Correct Answer: D) Method. 19. The presence of planning inhibits the ability of departments and individuals to work together or organizations to move. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 20. Assertion (A):Planning is closely connected with creativity and innovation. Reason (R):Before doing something, the manager must formulate an idea of how to work on a particular task. 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. Research of the potential customer's profile A) Market analysis. B) Balance sheet. C) Mission statement. D) Legal considerations. Show Answer Correct Answer: A) Market analysis. 22. Which form of ownership involves a single individual owning the business? A) Partnership. B) Corporation. C) Sole proprietorship. D) Cooperative. Show Answer Correct Answer: C) Sole proprietorship. 23. A grocery store training new hires how to use the cash registers. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: E) Staffing. 24. Which of the following is a disadvantage of a sole proprietorship? A) Full claim to assets. B) Ease of decision-making. C) Full claim to profits. D) Long hours. Show Answer Correct Answer: D) Long hours. 25. Career Planning should begin with A) Work ethic. B) Job training. C) SelfAssessment. D) Community service. Show Answer Correct Answer: C) SelfAssessment. ← 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 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