Question : Planning involves ____________ It is essentially the process of choosing among various alternatives.
Option 1: Mental exercise
Option 2: Decision making
Option 3: Wasteful activities
Option 4: Both a and c
Correct Answer: Decision making
Solution : The planning function is needed only when different alternative are available and we have to select most suitable alternative. We cannot imagine planning in absence of choice because in planning function manager evaluate various alternative and select most appropriate. Hence, option 2 is the correct answer.
Question : 'Planning is deciding in advance what is to be done. It involves the selection of objectives, policies, procedures and programme among alternatives. This defination is given by?
Question : Match the concept of Planning in column 1 and respective defination in column 2
Column
Question : It is defined as making major economic decisions by the conscious decision of a determinate authority, on the basis of a comprehensive survey of the economy as a whole.
Question : Which of the following statement is incorrect for financial planning?
Question : Assertion: The principle of "Centralization" involves decision-making authority resting with top-level management.
Reason: It leads to quick decision-making and uniformity in policies.
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