This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 4 Planning – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 4 Planning Quiz 8 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The ..... team normally includes hired consultants and the in-house team. A) Work team. B) Project management team. C) Executive committee. D) All the above. Show Answer Correct Answer: A) Work team. 2. Assertion (A) At the end of a certain period, there is need for a new plan to be drawn on the basis of requirements and future conditionsReason (R) All the plans expire after a certain period. A) Both Assertion (A) and Reason (R) are true. B) Both Assertion (A) and Reason (R) are false. C) Assertion (A) is true and Reason(R) is false. D) Assertion (A) is false and Reason(R) is true. Show Answer Correct Answer: C) Assertion (A) is true and Reason(R) is false. 3. A written document containing the goals, methods for attaining and the time-frame for the achievement of the goals of a business. A) Conceptualization. B) Prospectus. C) Business Plan. D) Port-folio. Show Answer Correct Answer: C) Business Plan. 4. Assertion (A):Planning is a time-consuming process. Reason (R):Planning should be done irrespective of the cost involved in it. 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. 5. What is the key component of risk analysis in a feasibility study? A) Assessing the demand and supply dynamics. B) Identifying potential risks and uncertainties. C) Evaluating the financial viability. D) Developing a detailed project timeline. Show Answer Correct Answer: B) Identifying potential risks and uncertainties. 6. What is the term for a brief statement that summarizes a company's purpose and values? A) Mission Statement. B) Vision Statement. C) Value Proposition. D) Executive Summary. Show Answer Correct Answer: A) Mission Statement. 7. To get success in business all managers need to work hard in thinking about future, in making business predicion and achieving targets. The above line describe one of the concept, name that. A) Planning. B) Coordination. C) Management. D) None of the above. Show Answer Correct Answer: A) Planning. 8. What is one of the risks associated with owning a sole proprietorship? A) Full claim to assets. B) Full claim to profits. C) Liability and risk of ownership. D) Pride of ownership. Show Answer Correct Answer: C) Liability and risk of ownership. 9. Which planning tool helps a business to define the behaviors of employees? A) Budget. B) Schedule. C) Procedure. D) Standards. Show Answer Correct Answer: D) Standards. 10. These are the "bad things" in your business environment. A) Weaknesses. B) Strengths. C) Technical Feasibility. D) Threats. E) Opportunities. Show Answer Correct Answer: D) Threats. 11. Statement I:Controlling is a prerequisite for planning. Statement II:Planning provides the goals or standards against which actual performance is measured. A) Statement I is correct and Statement II is not correct. B) Both the Statements I and II are correct. C) Both the Statements I and II are not correct. D) Statement II is correct and Statement I is not correct. Show Answer Correct Answer: B) Both the Statements I and II are correct. 12. Looks at likely risks to the business A) Insurance and risk management. B) Business Profile. C) Marketing Plan. D) Financial Section. Show Answer Correct Answer: A) Insurance and risk management. 13. Statement I:Follow-up action is the real point of decision making under the planning process. Statement II:Implementing the plan is the step where other managerial functions also come into the picture. A) Both the Statements I and II are correct. B) Statement I is correct and Statement II is not correct. C) Both the Statements I and II are not correct. D) Statement II is correct and Statement I is not correct. Show Answer Correct Answer: A) Both the Statements I and II are correct. 14. What is the term for a financial plan that estimates revenue and expenses over a specified future period? A) Budget. B) Forecast. C) Projection. D) Analysis. Show Answer Correct Answer: A) Budget. 15. These are the "expertise and good things" within your business. A) Weaknesses. B) Strengths. C) Technical Feasibility. D) Threats. E) Opportunities. Show Answer Correct Answer: B) Strengths. 16. Assertion (A):Planning is futuristic. Reason (R):Planning is concerned with the future which is certain and does not require forecast. 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. Is 'gathering information' one of the steps in the decision-making process when Lucy is trying to choose a new laptop for her studies? A) Yes, it is one of the steps. B) No, it is not a step. C) It is the only step. D) It is not necessary. Show Answer Correct Answer: A) Yes, it is one of the steps. 18. How is the summary of each aspect of a business plan usually presented in an Executive Summary? A) In paragraph format. B) In a narrative format. C) In bulleted format. D) In a graphical format. Show Answer Correct Answer: C) In bulleted format. 19. Which of the following is a reason to conduct a feasibility study: A) Considering a new product idea. B) Hiring a new employee. C) Ordering office supplies. D) Choosing an advertising slogan. Show Answer Correct Answer: A) Considering a new product idea. 20. The elapsed time between placing an order and it receiving it is also known as ..... A) Waiting time. B) Time interval. C) Lead time. D) Expected time. Show Answer Correct Answer: C) Lead time. 21. What is 'business continuity planning'? A) The process of creating systems of prevention and recovery to deal with potential threats. B) The analysis of a company's financial performance. C) The development of new products. D) The expansion of a company's market share. Show Answer Correct Answer: A) The process of creating systems of prevention and recovery to deal with potential threats. 22. Which one is not the characteristics of Planning A) Rules. B) Program. C) Object. D) Staffing. Show Answer Correct Answer: D) Staffing. 23. Which of the following is not the internal element of limitation of Planning? A) Capital. B) Raw material. C) Increase in population. D) Machine. Show Answer Correct Answer: C) Increase in population. 24. Holding weekly staff meetings to check in with employees on what they have been up to and answering any questions they may have. A) Planning. B) Organizing. C) Leading. D) Controlling. E) Staffing. Show Answer Correct Answer: C) Leading. 25. Planning results in decreasing ..... A) Coordination. B) Proper use of resource. C) Future uncertainties. D) Control. Show Answer Correct Answer: C) Future uncertainties. ← 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 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