Welcome to a hub crafted by an experienced commerce lecturer, where the world of Business Studies and Accountancy for Classes XI and XII comes alive! This blog offers meticulously designed study material, including MCQs, quizzes, creative puzzles, and comprehensive topic-wise slides, all aimed at making learning engaging and effective. Explore a treasure trove of resources tailored for CBSE and other competitive exams, and empower your academic journey accessible, interactive, and up-to-date.
Planning Quiz-1
Get link
Facebook
X
Pinterest
Email
Other Apps
-
Planning Quiz-1
Planning Quiz-1
Quiz
Sulochna Maliwal is working as the Production Manager in the ‘Rakshit Medicines Pvt. Ltd.’ She is to prepare the Production Budget for the calendar year 1.1.2020 to 31.12.2020. While preparing the budget for her department, she considered it proper to mainly keep in view the Corona virus spreading world-wide. Keeping this fact in mind, in the beginning months, in order to face the virus, she gave preference to preparing the necessary material rather than the other items. Due to the planning done in this manner, the company got a big success. Which particular point of importance of planning do you learn about from the event described above?
Planning provides direction.
Planning reduces the risk of uncertainty.
Planning reduces overlapping and wasteful activities.
Planning promotes innovative ideas
Assertion (A) : Middle management and other decision makers are neither allowed to deviate from the plan nor they are permitted to act on their own. Reason(R) : Planning in a way reduces creativity since people tend to think along the same lines as others
Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is true but Reason(R) is false
Assertion (A) is false but Reason(R) is true
Assertion (A) : Sales forecast is the basis on which a business firm prepares its annual plan for production and sales Reason(R) : Planning is the primary function of management
Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is true but Reason(R) is false
Assertion (A) is false but Reason(R) is true
Assertion (A) : Planning may not work in a dynamic environment Reason (R) : Planning cannot foresee everything and thus, there may be obstacles to effective planning.
Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is true but Reason(R) is false
Assertion (A) is false but Reason(R) is true
Name the function of management which bridges the gap between where we are and where we want to go.
Planning
Staffing
Organising
Directing
Assertion (A) : Planning is pervasive Reason (R) : It is an exclusive function of top management or of some particular department or manager.
Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is true but Reason(R) is false
Assertion (A) is false but Reason(R) is true
End results towards which all the activities are directed is called
Policy
Strategy
Budget
Objective
Name the step in the process of planning which is considered “the real point of decision making”.
Setting objectives
Developing premises
Evaluating alternatives
Selecting the best alternative
Assertion (A) : Monitoring the plan is equally important to ensure that objectives are achieved. Reason(R) : To see whether plans are being implemented and activities are performed according to schedule is also part of planning process.
Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is true but Reason(R) is false
Assertion (A) is false but Reason(R) is true
‘All-in-one Ltd.’ is such a company as makes available goods and services of all types to the customers at cheap rates. It is the first company of its own type, which established it five years ago. The company, first of all, began its business in the North India. For the people of this region, it proved to be a blessing. Getting influenced by its success, now several companies of this type have got established. The business environment is completely in favour of this company. Taking advantage of this fact, the company laid down its objective of leadership to be established in the market. For the achievement of this objective, along with the North India, the company has decided to open its office in the South India also. Hence, the company is going to expand its business. To which type of plan is the above event related?
Strategy
Policy
Procedure
Method
“Following a pre-determined plan, when circumstances have changed, it may not turn out to be in the organization’s interest.” Identify the limitation of planning highlighted above.
planning leads to rigidity
planning may not work in the dynamic environment
planning does not guarantee success
planning reduces creativity
Rahul, sales executive of mankind Pharma ltd. Put forth the idea of using artificial intelligence in the marketing of its products which will help in saving time, cost and energy for both ends. The marketing manager appreciated him but suggested to continue with the already developed marketing strategy. which limitation of planning is reflected in the above case.
Planning is time consuming
Planning reduces creativity
Planning leads to rigidity
Planning does not guarantee success
Which of the following steps in the process of planning states that the managers are required to make some assumptions about the future?
Setting objectives
Developing premises
Identifying the alternative course of action
Implementation of plan
‘Hitkari Products Pvt. Ltd.’ is a well-known company of its own type of industry. Today, the company’s position is this that if by the name of ‘Hitkari’ it launches any product in the market, the possibility of its success is 100%. Keeping in mind the fame of its brand, the company decided for the increase in its sales by 20%. The company has full belief that its decision will turn out to be 100% correct. The information of this decision was communicated to all the concerned officials, so that they should plan their activities on the basis of this decision. Identify the ‘type of planning’ conveyed by the above event.
Objective
Strategy
Policy
Budget
Assertion (A) : Planning leads to rigidity. Reason(R) : The well-defined plan already drawn decide the future course of action and managers may not be in a position to change it.
Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is true but Reason(R) is false
Assertion (A) is false but Reason(R) is true
Arrange the following in correct sequential order. i. Identifying alternatives ii. Selecting an alternative iii. Setting up of objectives iv. Implementation of plan v. Developing premises vi. Evaluating the alternatives vii. Follow up action
(iii)(ii)(vi)(v)(iv)(vii)
(iii)(v)(i)(vi)(ii)(iv)(vii)
(iii)(i)(ii)(vi)(v)(iv)(vii)
(iii)(v)(i)(vi)(ii)(vii)(iv)
“If the end result is clear it becomes easier to work towards the goal.” Identify the step of one of the functions of management highlighted above.
Developing premises
Implementation of plan
Follow up action
Setting of objectives
Mr. Narayan is working against the post of C.E.O. in ‘Lav Udyog Ltd.’ He called a meeting of the top-level officials. In the meeting, important decisions regarding theemployees’ training were taken, which were as follows: For the employees working atthe supervisory level, on-the job training shall be followed; but for the top-level and middle-level employees, seminars and lectures shall be organised. To which ‘type of plan’ the decisions taken by Mr Narayan are related in the above event?
Procedure
Strategy
Method
Rule
Assertion (A):The various functions of planning are inter related, however planning provides the basis of all other functions. Reason (R) : Planning is a continuous activity
Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is true but Reason(R) is false
Assertion (A) is false but Reason(R) is true
Changes and events cannot be eliminated but can be anticipated and managerial response to them can be developed. Which importance of planning is highlighted in the above statement.
Planning provides direction
Planning reduces overlapping and wasteful activities
Comments