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CBSE Questions for Class 12 Commerce Business Studies Planning Quiz 11 - MCQExams.com
CBSE
Class 12 Commerce Business Studies
Planning
Quiz 11
Which of the following would be considered a planning activity when writing a report?
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Evaluating your work
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Defining the purpose
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Rearranging content
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Checking for grammar and spelling errors
"What to achieve and till when" is explained by ______of an organization.
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Objectives
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Mission
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Goal
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Vision.
Explanation
While a mission statement describes what a company wants to do now, a vision statement outlines what a company wants to be in the future.
Hence, option (B) is the correct answer.
Appointing a manager under some strategic decision is covered under __________.
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strategy formulation
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environment scanning
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strategy implementation
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strategic planning.
Explanation
Strategy implementation is a term used to describe the activities within an organisation to manage the execution of a strategic plan.
One of the dangers in the formalization of strategic planning is ____________.
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that it stifles communication, coordination and control of strategy.
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that it often does not take sufficiently into account cultural and political dimensions in the development of strategy.
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it does not facilitate the must efficient allocation of resources.
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planning systems result in too many new ideas being promoted in the organization.
Environmental Scanning is the first step of _______.
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strategic planning
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operational planning
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entrepreneurship
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none of the above
Explanation
The strategic plan aims to focus an organisation's vision and priorities in response to a changing environment and to ensure that members of the organisation are working toward the same goals. Environmental Scanning is the first step of strategic planning.
Which one of the following is the expanded from of acronym 'MBA'?
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Management of Busyness organsation
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Management of Business Objectives
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Management by Option
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Management by Objective
In general, Vision and Mission statements of an organisation are a result of _______.
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operational planning
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strategic planning
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middle level planning
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performance planning.
Explanation
Strategic planning is an organization's process of defining its strategy, or direction and making decisions on allocating its resources to pursue this strategy. A strategic plan draws business enterprise vision, mission, objectives, managerial abilities, technical proficiencies and sources of finance.
Formulating strategies is the job of __________.
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low level management
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top level management
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middle level management
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all of above
During a trial, an attorney is planning to call to the stand to testify six different witnesses- T, V, W, X, Y and Z. She will call each witness exactly one time, and the other in which she calls them is subject to the following conditions
(i) The fourth witness must be T.
(ii) W and Y must both be called before V.
(iii) X must be called before W.
Which out of the following could be the order in which the attorney calls the six witnesses?
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W, X, Y, T, Z, V
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X, W, V, T, Y, Z
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X, Y, W, T, Z, V
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Z, T, X, W, Y, V
Explanation
Option(c) is correct as
1) 4th witness is T- the 1st condition
2)W & Y are called before V- the 2nd condition
3)X is called before W- the 3rd condition.
Option (a) is incorrect ,as condition 3 is not fulfilled as X should be called before W.
Option (b) incorrect, as condition 2 is not fulfilled as W & Y should be called before V.
Option (d) incorrect, as condition 1 is not fulfilled as T should be called 4th.
Feature(s) of strategy is/are __________.
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it is a specialized planning to retaliate competitors.
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it explains how managers have to respond to the subordinate in providing leadership.
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it is one of the way to manage the people in organization.
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all of above
During a trial, an attorney is planning to call to the stand to testify six different witnesses- T, V, W, X, Y and Z. She will call each witness exactly one time, and the other in which she calls them is subject to the following conditions
(i) The fourth witness must be T.
(ii) W and Y must both be called before V.
(iii) X must be called before W.
Which of the following must be true about the order in which the attorney calls the witnesses?
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She calls V before T
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She calls X before V
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She calls Y before W
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She calls Y before X
Explanation
Option(b) is correct as W & Y are called before V -2nd condition & X is called before W- 3rd condition. Thus X can be called before V.
During a trial, an attorney is planning to call to the stand to testify six different witnesses- T, V, W, X, Y and Z. She will call each witness exactly one time, and the other in which she calls them is subject to the following conditions
(i) The fourth witness must be T.
(ii) W and Y must both be called before V.
(iii) X must be called before W.
If the attorney calls Z last, which witness must be called fifth?
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T
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V
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W
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X
Explanation
Option (b) is convict as W, X and Y have to be called before V and T has to be called at the 4th position so V can come only at 5th or 6th position. But Z is called on 6th position so only the 5th position is left for V. Hence V must be called at 5th position.
Option (a) is incorrect as T is to be called at 4th position only.
Option(c) is incorrect . In the given situation, Z is already at 6th position and if attorney calls W at the 5th position she needs to call V at the 6th position which is already filled, as W & Y should be called before V as per condition (ii).
Option (d) is incorrect . In the given situation Z is already at 6th position and if attorney calls X at the 5th position she needs to call W at the 6th position which is already filled as X should be called before W as per condition (iii).
Identify the correct steps in planning.
i. Selecting a course of action.
ii. Determining alternatives courses
iii. Establishing objectives
iv. Formulating derivative plans
v. Evaluation of alternatives
vi. Establishment of planning premises
Select the correct answer from the options given below:
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III, VI, II, IV, I, V
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VI, III, II, V, I, IV
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III, IV, II, V, I, VI
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III, VI, II, V< I, IV
"It all depends on the variables of a situation" best describes the ___________.
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classical approach
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human relations approach
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systems approach
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contingency approach
During a trial, an attorney is planning to call to the stand to testify six different witnesses- T, V, W, X, Y and Z. She will call each witness exactly one time, and the other in which she calls them is subject to the following conditions
(i) The fourth witness must be T.
(ii) W and Y must both be called before V.
(iii) X must be called before W.
Which of the following could be true about the order in which the witnesses are called?
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T is called sixth
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V is called fourth
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W is called first
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X is called first
Explanation
Option (d) is correct as W, X and Y have to be called before V and T has to be called at the 4th position so V can come only at 5th or 6th position which leads to given possibilities
1. X, 2. W/Y, 3. Y/W, 4. T, 5. V, 6. Z or
1. X/Z., 2. X/Z, 3. Y/W, 4. T, 5. W/Y, 6. V. Thus X is called first is correct.
Option (a) is incorrect as T is to be called at 4th position only.
Option (b) is incorrect as only T can be called at 4th position.
Option(c) is incorrect as X must be called before W, so W can't be called first.
Writing an organizational strategic plan is an example of the __________ management function.
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leading
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coordinating
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planning
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organizing
______________is the direction and scope of an organization over the long-term; which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations.
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Function
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Strategy
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Planning
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Directing
Which of the following can be treated as feature of strategy?
(1) It reflects concern to effectively mobilize resources.
(2) It maximizes chances to achieve objectives.
(3) Formulating strategies is the job of top management.
Select the correct answer from the options given below.
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(1)&(3)only
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(1),(2)&(3)
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(2) & (3) only
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(1)&(4)only
Which of the following is concerned with how each part of the business is organized to deliver the corporate and business-unit level strategic direction and is concerned with strategic decisions about choice of products, meeting needs of customers etc?
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Operational strategy
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Corporate strategy
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Business unit strategy
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All of above
Identify which of the following statement is correct and which is incorrect.
(a)Planning is part of decision-making.
(b) Planning reduces the risk of uncertainties.
(c)Planning is a fundamental function of management and all other functions of management are greatly influenced by the planning process.
(d)Selling is a narrow concept as compared to marketing.
Select the correct answer from the options given below.
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(a)correct (b)correct (c) correct (d)correct
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(a)incorrect (b)correct (c)incorrect (d)correct
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(a)correct (b)incorrect (c) correct (d)correct
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(a)correct (b)correct (c) correct (d)incorrect
Budgeting is the formulation of plans for a given ___________ in numerical terms.
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future period
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past period
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current period
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none of above is defined by the Institute
Which of the following statement is FALSE?
(I) Early identification of opportunities does not help an enterprise to exploit opportunities.
(II) Identification of possible threats helps in taking corrective measures to survive the competition.
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Both (I) and (II)
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(I) only
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Neither (I) nor (II)
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(II) only
Explanation
'Early identification of opportunities does not help an enterprise to exploit opportunities' is false as a good management, decision making and planning can help the management to identify opportunities at an early stage which helps management in tapping or exploiting new opportunities.
Which of the following factor may affect location of business?
(1)Transport facilities
(2)Availability of Labour
(3)Market - Customers
(4)Government policy
(5)Supplies of raw material
Select the correct answer from the options given below.
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(1),(3)&(5)
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(2),(4)&(5)
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(1),(2),(4)&(5)
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(1),(2),(3),(4)&(5)
Match the following:
List I
list II
P. It specifies expect-ed sales of goods during a period.
1.Production budget
Q. It specifies volume of production during different period.
2.Material budget
R. It specifies estimated quantity and cost of material during different volumes of production.
3.Cash budget
S. It specifies expect-ed cash inflow and outflow and net liquidity position at different
4.Working capital budget
Sales budget
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(P)5 (Q)2 (R)3 (S)4
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(P)5 (Q)1 (R)2 (S)3
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(P)3 (Q)2 (R)4 (S)5
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(P)5 (Q)1 (R)3 (S)2
Advantages of budgeting is/ are _________________.
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it helps in achieve cordial relations with trade union.
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it helps in optimum utilization of resources by allocating them according to the requirements of different departments.
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it is also used for achieving co-ordination among different departments of an organization
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all of above
____________specifies investment in current assets like inventory, debtors, etc., at different points of time.
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R&D budget
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Profitability budget
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Working capital budget
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Production budget
The determines organizational objectives and the policies, programmes, schedules, procedures, and methods for achieving them.
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Manpower planning function
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Staffing function
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Co-ordination function
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Planning function
_________is regarded as the mental processes resulting in the selection of action among alternative scenarios.
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Planning
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Decision making
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Controlling
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Organizing
Planning is a ___ work.
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Physical
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Mental
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Low level
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None of above
Identify which of the following statement is correct (right) and which is incorrect (wrong).
Though more important for higher levels, planning is the not a function of every manager.
Ascertaining the future is also known as planning.
Select the correct answer from the options given below:
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1 - Right
2 - Right
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1 - Wrong
2 - Right
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1 - Right
2 - Wrong
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1 - Wrong
2 - Wrong
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