CBSE Questions for Class 12 Commerce Business Studies Planning Quiz 14 - MCQExams.com

once a company has made long range plans and the planning process is complete the future requirement of planning is
  • Not required
  • Required sometimes
  • Required as planning is dynamic
  • None of the above.
In relation to planning process "principle of navigational change" requires that __________.
  • The company should choose new manager for new problems
  • Manager periodically checks on events and expectations and redraw plans as necessary to maintain a course towards a desired goal
  • Both (A) and (B)
  • Either (A) or (B)
___________ suggest the exact manner in which a particular activity is to be done.
  • Procedures
  • Policy
  • Performance
  • Planning
_____________ involves looking ahead and projecting the future course of events.
  • Organizing
  • Forecasting
  • Controlling
  • Co-ordination
Objectives of business organization can be :
$$1$$. Short-term or long-term
$$2$$. Tangible or intangible
$$3$$. General or specific
Select the correct answer from the options given.
  • $$1$$
  • $$2$$
  • $$3$$
  • All
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?
  • Operational strategy
  • Corporate strategy
  • Business unit strategy
  • All of above
_____________ is concerned more with how a business competes successfuIly in a particular market and often described as mission statement.
  • Operational strategy
  • Corporate strategy
  • Business unit strategy
  • All of above
_________ as a general statement of understanding lays down the limits within which decisions are to be made and assures consistent and unified performance.
  • Procedures
  • Policy
  • Performance
  • Programme
____________ 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.
  • Function
  • Strategy
  • Planning
  • Supply chain
Which of the following specifies estimated expenditure to carry out research and development?
  • R & D budget
  • Profitability budget
  • Working capital budget
  • Production budget
Identify which of the following statement is correct ($$\checkmark$$) and which is incorrect (x)?
(a) Planning is part of decision-making.
(b) Directing flows from top to bottom
(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 & correct answers from the options given below.
  • a - $$\checkmark$$, b - $$\checkmark$$, c - $$\checkmark$$, d - $$\checkmark$$
  • a - X, b - $$\checkmark$$, c - X, d - $$\checkmark$$
  • a - $$\checkmark$$, b - X, c - $$\checkmark$$, d - $$\checkmark$$
  • a - $$\checkmark$$, b - $$\checkmark$$, c - $$\checkmark$$, d - X
____________ is regarded as the mental processes resulting in the selection of action among alternative scenarios.
  • Controlling
  • Planning
  • Decision making
  • Organizing
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, Ill
  • Ill, IV, II, I
  • II, IV, I
  • IV, III, I
The main function of business planning is to provide and implement the ___________.
  • Formal & straight business plan
  • Good & systematic business plan
  • Informal & systematic business plan
  • Formal & systematic business plan
Operational strategy focuses on issues of ____________
  • Resources
  • Processes
  • People
  • All of above
Planning is the __________ of management.
  • Secondary function
  • Primary function
  • Either (A) or (B)
  • Neither (A) nor (C)
___________ specifies at different levels of sales, expected profit level.
  • Sales budget
  • Profitability budget
  • Working capital budget
  • Production budget
Match the following:
List IList II
P.It specifies expected sales of goods during a period.1.Production budget
Q.It specifics volume of production different budget period.2.Material budget
R.It specifies estimated quantity and cost of material during different volumes of production.3.Cash budget
S.It specifies expected cash in flow and outflow and net liquidity position at different4.Working capital budget

5.Sales budget
Select the correct answer from the options given below.
  • P -5, Q - 2, R - 3, S - 4
  • P -5, Q - 1, R - 2, S - 3
  • P -3, Q - 2, R - 4, S - 5
  • P -5, Q - 1, R - 3, S - 2
Business plans are only for start-up companies, it is a :
  • Myth
  • Reality
  • Miracle
  • Both (A) and (C)
Which of the following executes strategy into everyday executions tactics?
  • Goal setting
  • Technical planning
  • Operational planning
  • None of the above
ERP stand for -
  • Enterprise Resource Planning
  • Economic Resource Planning
  • Efficient Resource Planning
  • Economic Resource Processing
Which of the following is not a computer-assisted audit techniques?
  • Test data
  • Tagging and lagging
  • Integrated test facility
  • Program analysis
______________ is the process of conducting programs (activities needed to accomplish a plan), budgets (cost of the programs), and procedures(sequence of steps needed to do the job).
  • Strategy formulation
  • Strategy implementation
  • Both (A) and (B)
  • Neither (A) nor (B)
Sakshi Pathak is considering the following questions as she approaches a planning period:
(1) What industries should we get into or out of?
(2) In which business should the corporation invest money?
Which of the following levels would be appropriate to address the questions facing Ms. Pathak?
  • Corporate Level
  • Business Level
  • Operational Level
  • Functional Level
Planning process comprises determination and laying down of ______________
(i) Objectives, (ii) Policies, (iii) Procedures, (iv) Rules, (v) Remuneration
The correct answer is -
  • (i), (ii), (iii), (v)
  • (i), (ii), (iii), (iv)
  • (i), (ii), (iv), (v)
  • (i), (iii), (iv), (v)
Basic misconceptions for business plan :
  • Too much work for little or no benefit
  • Business plans are for larger, fancier companies
  • Both (A) and (B)
  • Neither (A) nor (B)
Identify incorrect statement.
  • Companies at all stages of development need to prepare business plan.
  • Business plan should emphasize people not ideas or concepts.
  • Business plan must be concise and well written.
  • None of the above.
In India, the Central Planning Authority is called.
  • State Government
  • President of India
  • Ministry of Economy
  • Planning Commission
Only the founding_________should prepare business plans.
  • Intrapreneur
  • Entrepreneur
  • Intrapreneur or entrepreneur
  • Intrapreneur and entrepreneur
Business plans should be as detailed as possible; the longer the plan, the better chance that the company will be _____________.
  • Successful
  • Sound
  • Sound and successful
  • Financed
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