CBSE Questions for Class 12 Commerce Business Studies Planning Quiz 12 - MCQExams.com

Planning is a guess work.
  • True
  • False
  • Partly true
  • None of above
Which of the following statement reflects the importance of planning?
  • Planning makes personnel conscious of enterprise objectives.
  • Planning is a rational approach to the future.
  • Planning requires projecting future activities of an organization.
  • All other functions of organizing, staffing, directing and controlling must reflect planning function of management.
Which of the following is the preparatory step for actions and helps in bridging the gap between the present and the future?
  • Controlling
  • Directing
  • Motivating
  • Planning
Identify the best definition of planning_______________________.
  • An integrated process, in which plans are formulated, carried out and controlled.
  • Devising ways of achieving the objectives of an organization.
  • The core activity of planners and planning departments.
  • Setting an organization's objectives and the means of reaching them.
Which of the following is fundamental function of management and all other functions of management are greatly influenced by it?
  • Controlling
  • Directing
  • Motivating
  • Planning
Identify which of the following statement is correct (right) and which is incorrect (wrong)
I - If done properly control precedes planning.
II - Planning is not required for repetitive or routine matters.
Select the correct answer from the options given below. 
  • I - Wrong

    II - Wrong
  • I - Wrong

    II - Right
  • I - Right

    II - Wrong
  • I - Right

    II - Right
Which qualities should a person possess to succeed in planning?
I - Reflective thinking 
II - Pondering
III - Imagination
IV - Farsightedness
V - Reflecting
  • I, III and V
  • IV, III and II
  • II, III, I and V
  • IV, I and III
The essential nature of planning _________________.
  • It is based on the principle of division of work.
  • It is important secondary function of manangement.
  • It is an intellectual process.
  • It develops spontaneously.
Identify which of the following statement is correct (right) and which is incorrect (wrong)
I - Unique feature of control is that it can exist without planning.
II - Task of planning does end with assessing the future.
  • I - Wrong

    II - Wrong
  • I - Wrong

    II - Right
  • I - Right

    II - Wrong
  • I - Right

    II - Right
Statement I: Forecasting does not play any role in planning.
Statement 2: Forecasts are based on postulations and assumptions and, as such, are subject to some amount of guess-work.
  • Statement I and Statement 2 both are false.
  • Statement I and Statement 2 both are true.
  • Statement I is true but Statement 2 is false.
  • Statement 2 is true but Statement 1 is false.
The first and primary step in planning process is the______________.
  • Evaluation of alternatives
  • Formulating derivative plans
  • Establishment of planning premises
  • Establishing objectives
Planning premises may be viewed as _____________.
  • External and internal
  • Tangible and intangible
  • Controllable, semi controllable and non controllable
  • Any of the above
Which of the following signifies actual selection of a course of action from among a number of alternatives?
  • Planning
  • Forecasting
  • Organizing
  • Decision-making
_________ defines a budget as " a financial and/ or quantitative statement prepared prior to a defined period of time of the policy to be pushed during that period for the purpose of attaining a good objective".
  • The Institute of Cost and Works Accountants of India
  • The Institute of Cost and Management Accountants of Singapore
  • The Institute of Cost and Management Accountants of England and Wales
  • The Institute of Cost and Accountants of America
Zero base Budgeting can be used more meaningfully in those areas where a direct relationship exists between the expenditure on an activity and its benefit to the enterprise.
  • False
  • Partly true
  • True
  • None of above
Which of the following is not an example of traditional control devices?
  • Budgetary Control
  • Standard Costing
  • Financial Ratio Analysis
  • Zero Base Budgeting
A budget is frequently prepared to combine all other budgets in a summary form is called a ________.
  • sales budget
  • purchase budget
  • cash budget
  • master budget
Which of the following is not benefit of budgetary control?
  • It promotes unity of command and conforms to the scalar principle of organization.
  • Maximum efficiency is achieved by avoiding wastage and losses.
  • Everyone knows what exactly he has to do.
  • All of above
Zero base budgeting is a new approach to budgeting which was first introduced by Peter Pyhrr in $$1970$$ in the ______
  • England
  • United States
  • Australia
  • India
Which of the following is known as a 'non profit - no loss' situation?
  • Break - Even Point
  • Initiating Structure
  • Statistical control
  • None of the above
What is zero-based budgeting?
  • It is an approach to budgeting that solely applied to public sector organizations.
  • It is an approach in which managers are required to justify all budgeted expenditures; not just changes in the budget from the previous year.
  • It is best carried out on a quarterly basis
  • It should be undertaken on a routine basis
____ is a point of 'no profit - no loss'.
  • Standard cost
  • Indifferent point
  • Break - even
  • Margin of safety
Zero base budgeting is a new approach to budgeting which was first introduced by _______.
  • Henry Fayol
  • Koontz and O'Donnell
  • Peter Pyhrr
  • Haimann
Strategic planning includes strategic management which implemented the following strategic processes :
I. Environmental scanning
II. Strategy formulation
III. Strategy implementation
IV. Evaluation and control

Select the correct answer from the options given below -
  • II, III
  • III, IV, II, I
  • II, IV, I
  • IV, III, I
Which of the following are constrains to operational planning?
  • Time and resources
  • Taxes and subsides
  • Political instability
  • None of the above
Formal & systematic business planning must includes:-
(I) Strategic planning
(II) Operational planning
Select the correct answer from the options given below _________.
  • (I) only
  • (II) only
  • Both (I) and (II)
  • Neither (I) nor (II)
Which of the following is a detailing process in the mission, objectives, strategies and policies?
  • Strategy formulation
  • Strategy implementation
  • Strategy strategy
  • Strategy achievement
An opportunity assessment plan includes the following?
  • A description of the product or service
  • An assessment of the opportunity
  • An assessment of the entrepreneur and the team
  • All of the above
Strategic plan formulate the effective management concentrates on opportunities and threats in ___________.
  • long range plans
  • short range plans
  • medium range plans
  • capital plans
_______ is the process of conducting programs (activities needed to accomplish plan), budgets (cost of the programs), and procedures (sequence of steps needed to the job).
  • Strategy formulation
  • Strategy implementation
  • Both (A) and (B)
  • Neither (A) nor (B)
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