CHAPTER 4: Business Environment

  1. Which of the following is a feature of planning:-
    (a) Focuses on achieving goals
    (b) Pervasive
    (c) Mental exercise
    (d) All of the above

  2. By comparing ______ with standards manager can know whether the goals are achieved or not:-
    (a) Risk
    (b) Ideas
    (c) Actual performance
    (d) Costs

  3. Planning provides direction is a
    (a) Importance of planning
    (b) Limitation of planning
    (c) Characteristics of planning
    (d) Method

  4. _______ guides for decision making :-
    (a) Rule
    (b) Policy
    (c) Procedure
    (d) Method

  5. ______ type of plan is not likely to be repeated in future:-
    (a) Standing plan
    (b) Programme
    (c) Single use plan
    (d) Method

  6. Advertising of a product is a part of _________
    (a) Strategy
    (b) Rule
    (c) Budget
    (d) Method

  7. The sub ordinates are given complete freedom in taking decisions is a part of
    (a) Rule
    (b) Stratergy
    (c) Policy
    (d) Procedure

  8. _______ are detailed statements about a project which outlines the objectives, rules, etc.
    (a) Budget
    (b) Programme
    (c) Single use plan
    (d) Policy

  9. ______ forecasts the sales of different products in each area for particular month:-
    (a) Sales budget
    (b) Sales accounts
    (c) Sales cost
    (d) None of the above

Answer Keys

1 d 2 c 3 a 4 b 5 d 6 a 7 c 8 b 9 a