Business Studies

Planning

Medium

Which of the following are important features of the 'Budget'?

(A) The budget is a single-use plan containing expected results in theoretical terms only.

(B) Budgets may be expressed in terms of time, materials or other suitable units capable of numerical expression.

(C) The budget is a plan which quantifies future facts and figures.

(D) The budget projects the expected revenues and expenses for a given period.

Choose the correct answer from the options given below:

(B), (C) and (D) only

(A), (B) and (C) only

(A), (B) and (D) only

(A), (C) and (D) only

✅ Correct Option: 1

Option 1 -> This option includes (B), (C), and (D), which are all accurate descriptions of budget features - budgets are expressed in numerical units, quantify future plans, and project revenues/expenses.

Option 2 -> This option includes statement (A) which is incorrect because budgets are not expressed in "theoretical terms only" - they are practical, quantifiable plans expressed in concrete numerical terms.

Option 3 -> This option includes statement (A) which incorrectly characterizes budgets as theoretical only, when budgets are actually practical tools expressed in specific measurable units.

Option 4 -> This option includes statement (A) which is flawed because it limits budgets to "theoretical terms only," contradicting the practical, quantifiable nature of budgets.

Hence, Option 1: (B), (C) and (D) only -> Statement (A) is incorrect as budgets are expressed in practical, quantifiable terms (monetary, time, materials, etc.), not theoretical terms only. Statements (B), (C), and (D) correctly describe budgets as: being expressed in various numerical units, quantifying future plans, and projecting revenues/expenses for specific periods. -> correct

2025: 31 May Shift 1

Which of the following is/are not single-use plans?

(A) Budgets

(B) Rules

(D) Projects

Choose the correct answer from the options given below:

2023: 11 June Shift 3

These plans are strict, rigid and specific statements that inform what is to be done.

2022: 30 Aug Shift 1

Arrange the process of planning in correct sequence.

(a) Setting objectives

(b) Identifying alternative course of actions

(d) Selecting an alternative

(e) Evaluating alternative courses

Choose the most appropriate answer from the options given below :

2025: 29 May Shift 2

"Most of the time, employees do not even attempt to formulate plans". Which limitation of Planning is indicated by the given statement ?

2025: 13 May Shift 1

Arrange the following steps of planning process in a logical sequence

(A) Making certain assumptions about the future

(B) Selecting the best possible and viable alternative

(D) Monitoring the plan to ensure that objectives are achieved

Choose the correct answer from the options given below:

2022: 6 Oct Shift 1

"Planning is decided in advance what to do and how to do". Choose the correct sequence of steps to make the process of planning

A. Developing premises

B. Follow up action

C. Evaluating alternatives

D. Identifying alternatives

E. Selecting an alternative

Choose the correct answer from the option given below:

Solution

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