Planning Test

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Planning Test - 22

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Weekly Quiz Competition

Question 1
1 / -0

The efforts of a tax payer to identify and undertake such transactions that will result in reduction / elimination of tax liabilities is called as ____________.

A
Tax evasion

B
Tax planning

C
Tax avoidance

D
Tax reduction

E
None of the above

Solution

Tax planning involves the utilization of the various provisions of statute which enable the tax payer to reduce the tax liability without violating the letter and spirit of the law.
Question 2
1 / -0

Mission statement of a company is derived from its _____.

A
articles of association

B
vision statement

C
memorandum of association

D
prospectus

Solution

A vision statement of a company is the visionary future position that the company wants to achieve and the mission statement is the path through which the company will achieve its visionary position.
Question 3
1 / -0

The time horizon of a long-term forecasts is determined by ____________.

A
Nature of the business

B
Length of the operating cycle

C
Life cycle of the product, in which the business is dealing in

D
All of the above

E
Both (B) and (C)

Solution

The nature of the business, length of the operating cycle and life cycle of the product are factors which effect the time horizon.
Question 4
1 / -0

"SWOT" is used for_______.

A
Planning

B
Organising

C
Motivating

D
Controlling
Question 5
1 / -0

Value system of an organization - have an impact on its:
I. Objectives
II. Policies
III. Practices
IV. Profit
Which is the correct option?

A
I and II only

B
I, II and III only

C
I, III and IV only

D
I,II, III and IV.

Solution

By value system, we mean what is the policy of the organization regarding right and wrong. It is the business ethics that the organization follows which defines the organization's policy about right and wrong. Internal factors like organizational structure and culture decide the motivation of the employee with the company. The objectives, policies, and practices of the organization are all affected by its value system.
Hence, option (B) is the correct answer.
Question 6
1 / -0

________ can be used to reduce rest time.

A
Batch method

B
Low technology job

C
High technology job

D
Flow method
Question 7
1 / -0

Corporate strategy is ______.

A
the implementation of plans to achieve long-term aims

B
vertical marketing strategy

C
more specific and practical than marketing strategy

D
both (a) and (b)
Question 8
1 / -0

Which of the following is true about business strategies?

A
Well defined missions make strategy development much easier

B
An organisation should stick with its strategy for life of the business

C
All firms within industry will adopt the some strategy

D
Organisational strategies depends on operations strategies
Question 9
1 / -0

By concept of budgeting we mean _______.

A
formulation of plans for future company in numerical terms

B
deciding the future of company

C
preparing the plans of the company

D
none of the above
Question 10
1 / -0

Location is a good criteria regarding a marked strategy as _______.

A
it takes care of politics

B
it takes care of suppliers

C
it takes care of government policies

D
both (b) and (c)

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Re-Attempt Weekly Quiz Competition

Planning Test - 22

Result

Planning Test - 22

Score

-

Rank

-

SHARING IS CARING

Question 1

Tax evasion

Tax planning

Tax avoidance

Tax reduction

None of the above

Solution

Question 2

articles of association

vision statement

memorandum of association

prospectus

Solution

Question 3

Nature of the business

Length of the operating cycle

Life cycle of the product, in which the business is dealing in

All of the above

Both (B) and (C)

Solution

Question 4

Planning

Organising

Motivating

Controlling

Question 5

I and II only

I, II and III only

I, III and IV only

I,II, III and IV.

Solution

Question 6

Batch method

Low technology job

High technology job

Flow method

Question 7

the implementation of plans to achieve long-term aims

vertical marketing strategy

more specific and practical than marketing strategy

both (a) and (b)

Question 8

Well defined missions make strategy development much easier

An organisation should stick with its strategy for life of the business

All firms within industry will adopt the some strategy

Organisational strategies depends on operations strategies

Question 9

formulation of plans for future company in numerical terms

deciding the future of company

preparing the plans of the company

none of the above

Question 10

it takes care of politics

it takes care of suppliers

it takes care of government policies

both (b) and (c)

User

Question Analysis

My Perfomance

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