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
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.
Question : 'Smoking is prohibited in the factory' what element of planning does it exemplify?
Option 4: Method
Question : Punishment can be awarded for not following a particular element of planning? Name the element
Option 1: Procedure
Option 2: Policy
Option 3: Rule
Option 4: Programme
Question : Which of the following is not a type of interest rate?
Option 1: Simple interest rate
Option 2: Compound interest rate
Option 3: Fixed interest rate
Option 4: Dynamic interest rate
Question : It is a plan which quantifies future facts and figures?
Option 2: Budget
Question : The interest rate effect states that an increase in the price level leads to:
Option 1: An increase in the interest rate
Option 2: A decrease in the interest rate
Option 3: No change in the interest rate
Option 4: An increase in savings
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