Question : 'In case the debts are not paid within a month, interest at a definite rate will be levied.' To what element of planning does this saying point out?
Option 1: Policy
Option 2: Rule
Option 3: Procedure
Option 4: Budget
Answer (1)
15th Jan, 2024
Correct Answer: Rule
Solution :
Rules spell out the action and non-action done in the organisation. There is no discretion allowed in rules. i.e. Rules are spelt out to create the environment of discipline in the organisation. In the above case, In case the debts are not paid within a month, interest at a definite rate will be levied. It comes under rule plan of the organisation.
Hence, option 2 is the correct answer.
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