CUET Entrepreneurship-Chapter-Business Planning Preparation of a Feasibility Plan

Important MCQ Questions on CUET Entrepreneurship-Chapter-Business Planning Preparation of a Feasibility Plan with Detailed explanation

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MCQ Questions for CUET Entrepreneurship-Chapter-Business Planning Preparation of a Feasibility Plan Set-1

Entrepreneurship - MCQ on Business Planning: Preparation of a Feasibility Plan

Class XII

Q.1. The first step for starting a venture is

a. mobilising resources.

b. preparation of project report.

c. preparation of feasibility plan.

d. resource assessment.

answer:

(c)

Explanation: A feasibility plan is a business plan that encompasses the entire range of activities which are planned in the business. It works as a basic guideline and provides an overview for the analysis and implementation of the project.

Q.2. A comprehensive plan that encompasses the entire range of activities planned in the business is a/an

a. business plan.

b. feasibility plan.

c. operational plan.

d. activity plan.

answer:

(b)

Explanation: Feasibility plan gives guidelines to understand the feasibility of the project. It indicates the potential for the success of the business.

Q.3. The feature of feasibility plan, also known as its soul, is

a. human resource and management.

b. market survey and analysis.

c. objectives of the business.

d. operational plan.

answer:

(d)

Explanation: An operational plan shows the strategy which an entrepreneur adopts to maximise the production.It provides vital statistics of various elements involved in the working of an enterprise.

Q.4. A preamble to the feasibility plan is

a. executive summary.

b. financial profile.

c. futuristic projections.

d. operational plan.

answer:

(a)

Explanation: Executive summary is a general synopsis of the proposed enterprise giving a comprehensive picture of the whole enterprise.

Q.5. A general synopsis of the proposed enterprise is called

a. executive summary.

b. financial profile.

c. futuristic projections.

d. operational plan.

answer:

(a)

Explanation: Executive summary gives the picture of the entire business plan including its objectives, plan of action, proposed marketing strategies etc.

Q.6. The plan that shows the strategy adopted by the entrepreneur in maximising his production is

a. executive summary.

b. financial profile.

c. futuristic projections.

d. operational plan.

answer:

(d)

Explanation: It includes the methods of production and the quality standards to be followed.

Q.7. An efficient and adequate advertising of the product indicates

a. feasibility plan.

b. financial profile.

c. human resource.

d. marketing strategy.

answer:

(d)

Explanation: Marketing strategy includes decisions related to advertising, sales techniques, promotional techniques etc.

Q.8. The analysis of market trend is a part of

a. future projection.

b. marketing strategy.

c. market survey.

d. operational plan.

answer:

(c)

Explanation: An entrepreneur generally conducts a detailed survey and research in the market to find out the viability of the project.

Q.9. Customer’s needs and requirements form a part of

a. executive summary.

b. financial profile.

c. futuristic projections.

d. market survey.

answer:

(d)

Explanation: An entrepreneur generally conducts a detailed survey and research in the market to find out the viability of the project.

Q.10. Under operational plan, for maximising production, the entrepreneur adopts

a. views.

b. policies.

c. solutions.

d. strategies.

answer:

(d)

Explanation: The operational plan shows the strategies to be adopted by entrepreneurs in order to maximise sales. Operational plan is the soul of the feasibility report.

Q.11. Feasibility plan helps an entrepreneur to

a. maximise production.

b. execute the project.

c. operate business.

d. master business.

Answer:

(b)

Explanation: Feasibility plan helps an entrepreneur to execute the project in an organised and systematic manner. It also helps in framing marketing strategies.

Q.12. The most important resources for an enterprise are its

a. natural resources.

b. capital resources.

c. human resources.

d. mineral resources.

Answer:

(c)

Explanation: Human resources are very important for an enterprise because an organisation can win over its competitor with the help of an efficient staff.

Q.13. The potential for growth and development of an enterprise is shown by

a. operational plan.

b. market plan.

c. future projections.

d. financial profile.

answer:

(c)

Explanation: Feasibility report includes the details regarding the potential for growth and development of an enterprise. It also shows the future prospects of the project undertaken by the entrepreneurs.

Q.14. An entrepreneur should have a deep insight of the

a. quantity of the product.

b. financial profile.

c. attributes of the product.

d. media technique.

answer:

(c)

Explanation: An entrepreneur should know the quality of the product, raw materials required for production, its customer’s value etc.

Q.15 An entrepreneur, as a project champion, has to harness

a. finance.

b. wealth.

c. quality.

d. quantity.

answer:

(a)

Explanation: An entrepreneur should prepare a sound financial plan including estimation of cost, revenue, profits etc.

Q.16. Before starting a business, the first step is

a) operational plan.

b) market plan.

c) financial plan.

d) feasibility plan.

answer:

(d)

Explanation: Feasibility plan is like a guideline for implementation of the project. A feasibility plan is a business plan that includes the entire range of activities which are planned in the business. It works as a basic guideline and provides an overview for the analysis and implementation of the project.

Q.17. The decisions related to advertising, promotional techniques etc. are included in

a. market profile.

b. market sales.

c. market strategies.

d. financial profile.

answer:

(c)

Explanation: Based on market survey, a market strategy is prepared. Feasibility report must contain the detail report of market strategies.

Q.18. The ends that help in directing activities are known as

a. objectives.

b. plans.

c. analysis.

d. report.

answer:

(a)

Explanation: Objectives are the ends towards which activities are directed. Before starting a business, an entrepreneur must know in detail the objectives and aims of the project.

Q.19. Understanding of the business environment is the quality of

a. an employee.

b. a manager.

c. a customer.

d. an entrepreneur.

answer:

(d)

Explanation: A good entrepreneur should have the basic quality of understanding business environment, understanding the objectives of the business, clarity of purpose, goals etc.

Q.20. Various risks involved in the project are discussed in the

a. feasibility plan.

b. market plan.

c. financial profile.

d. operational plan.

answer:

(a)

Explanation: Feasibility report includes the details regarding the potential for growth and development of the enterprise. It also shows the future prospects of the project undertaken by the entrepreneurs.