Test: Planning - 2


20 Questions MCQ Test Crash Course of Business Studies(BST)- Class 12 | Test: Planning - 2


Description
This mock test of Test: Planning - 2 for Commerce helps you for every Commerce entrance exam. This contains 20 Multiple Choice Questions for Commerce Test: Planning - 2 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Planning - 2 quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Planning - 2 exercise for a better result in the exam. You can find other Test: Planning - 2 extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

Training, lectures and seminars are ____________

Solution:

Training, Lectures and Seminar are different types of methods.  Methods are a standard way of doing jobs for attaining objectives. They are more detailed than procedure. They are helpful in simplifying the work for different jobs and different methods are adopted.

QUESTION: 2

Development of a new product is a ___________

Solution:

Programmes are the combinations of objectives,policies,procedure and rules all these plans together form a program.The programs are made to get the systematic working in the organisation. For example:-Construction of shopping mall,Development of a new product etc. , And development of a new product involves objective policies procedure and rules .

QUESTION: 3

Estimated cash inflows and cash outflows are _________

Solution:

The correct option is Option B.

A cash flow budget is a summary of the projected cash inflows and outflows for a business over a period of time. The time period is usually a future accounting period and is divided into quarters or months.

QUESTION: 4

Increasing sale by 15% is _______________

Solution:
QUESTION: 5

Which of the following is a limitation of planning?

Solution:
QUESTION: 6

The first step of planning is _____________

Solution:
QUESTION: 7

What is the last step in planning process?

Solution:
QUESTION: 8

Planning seeks to bridge the gap between ______

Solution:
QUESTION: 9

Planning is concerned with ______________

Solution:
QUESTION: 10

Which of the following is not correct?

Solution:

Profitability can be increased by various methods like reducing cost, increasing turnover costs, increasing productivity, and increasing efficiency. 
All of the mentioned methods can be achieved by effective planning. By achieving these methods by planning it will help in increasing profitability, not decreasing it.

QUESTION: 11

Planning is a _______________

Solution:
QUESTION: 12

Planning helps in reducing the _______________

Solution:
QUESTION: 13

Which one of the following is a limitation of planning?

Solution:
QUESTION: 14

Single use plans are designed only ____________

Solution:

Correct Answer :- a

Explanation : Single use plan is developed to address a specific organizational situation. Such a plan is typically used only once because the specific situation to which they apply does not recur. Consider, for example, the plan of SAP Americas, a leading provider of enterprise resource planning and ecommerce solutions, to build a new corporate headquarters. A sophisticated plan was necessary to finance, construct, and move into the new building.

QUESTION: 15

If a firm has decided to sell its product on cash basis only, it is part of firm?s _________

Solution:
QUESTION: 16

No fine or penalty for violation is charged under____

Solution:

Method is not a strict rule or a rigid policy like a rule or a law, which prohibits you from doing a certain thing and that's why no penalty is charged. it's not a necessity to follow a method, whereas for a law or a rule it is.

QUESTION: 17

Programmes are ________________

Solution:

A program is a detailed plan of action aimed at accomplishing a clear business objective, with details on what work is to be done, by whom, when, and what means or resources will be used.

QUESTION: 18

Which of this is not mentioned in decision-making matrix?

Solution:

A decision matrix is a series of values in a table of columns and rows that allows a person to visually compare possible solutions by weighing their variables based on importance.
Performance management is not part of the decision-making matrix, it is concerned with performance of organization, a department, employee or a particular task.

QUESTION: 19

There are two types of plans ____________

Solution:

Planning is commitment to a certain work to achieve specific results. The two types of plane are Standing plans and Single-use plans.
Standing Plans- These plans are formulated to guide managerial decisions and actions on problems which are recurring in nature. They are also known as ‘repeated use plans’.
Single use plans- These plans are used to solve a particular problem that is non-recurring in nature.

QUESTION: 20

Plans can be implemented after the _______________

Solution:

Plans can be implemented after the selecting an alternative. The best alternative is selected but as such there is no mathematical formula to select the best alternative. Sometimes instead of selecting one alternative a combination of different alternatives can also be selected. The most ideal plan is most feasible, profitable and with least negative consequences.