Planning Test

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Planning Test - 26

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Weekly Quiz Competition

Question 1
1 / -0

What is the primary purpose of budgeting?

A
Planning

B
Control

C
Organizing

D
Direction

Solution

Budgets are plans and budgetary control are the comparisons of plans with the actual performance.
Control is provided by comparisons of actual result against budget plan.
Question 2
1 / -0

Once a company has made long range plans and the planning process is complete, the future requirement of planning is ___________.

A
not required

B
required sometimes

C
dynamic

D
none of the above
Question 3
1 / -0

Which of the following is not a part of Porter's generic strategy?

A
Focus

B
Cost leadership

C
Differential strategy

D
Market segmentation

Solution

The three strategies of porter are
(A) Cost leadership
(B) Differentiation
(C) Focus
Question 4
1 / -0

Which one of the following strategy deals with day-to-day activities of a business?

A
Corporate strategy

B
Operational strategy

C
Business unit strategy

D
None of the above

Solution

Corporate Strategy- is concerned with the selection of business in which company should complete. It is a crucial level since it is a deciding factor for investors in the business and acts to guide strategic decision-making throughout the business. Corporate strategy is often stated explicitly in a 'mission statement".
Hence, option B is correct.
Question 5
1 / -0

Which of the following is not the invitation of planning?

A
Policies and rules which are once established are difficult to change

B
It is pervasive function

C
Rules and regulations of government

D
Both a & c
Question 6
1 / -0

By pervasive nature of planning we mean __________.

A
it is required at all levels in an organisation

B
planning is a top management tool

C
planning is a continuously changing

D
it is a basic management function

Solution

Planning is pervasive: Planning is required at all levels of management as well as in all departments of the organisation. It is not an exclusive function of top management nor of any particular department. But the scope of planning differs at different levels and among different departments
Question 7
1 / -0

Invariably planning is important as ___________.

A
it is one of the objectives of a manager

B
it keeps the check on the performance against the predetermined course of action

C
it is the only source of information for employees

D
both a & b
Question 8
1 / -0

Some of the limitation of planning is __________.

A
it has to adjust itself with the changing environment

B
accurate projection about the future is difficult in planning

C
advance planning can not function the case of acute emergency

D
all of the above
Question 9
1 / -0

The ________ plan describes how the product will be distributed and priced.

A
financial

B
production

C
venture

D
marketing
Question 10
1 / -0

Which of the following type of budget is prepared to assess the level of inventories, receivables etc.?

A
Material budget

B
Profitability budget

C
Cash budget

D
Working capital budget

Solution

Working Capital budget is a part of the total budgeting process of a business. It is prepared by estimating the future long-term and working capital needs for example current assets like inventory, debtors, receivables, etc.

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Re-Attempt Weekly Quiz Competition

Planning Test - 26

Result

Planning Test - 26

Score

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Rank

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SHARING IS CARING

Question 1

Planning

Control

Organizing

Direction

Solution

Question 2

not required

required sometimes

dynamic

none of the above

Question 3

Focus

Cost leadership

Differential strategy

Market segmentation

Solution

Question 4

Corporate strategy

Operational strategy

Business unit strategy

None of the above

Solution

Question 5

Policies and rules which are once established are difficult to change

It is pervasive function

Rules and regulations of government

Both a & c

Question 6

it is required at all levels in an organisation

planning is a top management tool

planning is a continuously changing

it is a basic management function

Solution

Question 7

it is one of the objectives of a manager

it keeps the check on the performance against the predetermined course of action

it is the only source of information for employees

both a & b

Question 8

it has to adjust itself with the changing environment

accurate projection about the future is difficult in planning

advance planning can not function the case of acute emergency

all of the above

Question 9

financial

production

venture

marketing

Question 10

Material budget

Profitability budget

Cash budget

Working capital budget

Solution

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