Question

'Feasibility analysis' is described as below :
(A) It is the process of accessing whether the business idea is viable.
(B) It is the preliminary evaluation of a business idea done for the purpose of determining whether the idea is worth pursuing.
(C) It is to guess time span in which investment made in the project be recovered.
(D) It is to find whether technology adopted will work correct.
(E) It is to estimate demand and to plan supply accordingly.
Choose the correct answer from the options given below :

• A. Only (A) is correct statement
• B. Only (B) is correct statement
• C. Only (A) and (B) are correct statements
• D. Only (C), (D) and (A) are correct statements

Hint:

"Viability" is the keyword for feasibility. If a question asks for a definition, look for the word "viable" or "practicality".

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
Feasibility analysis is an assessment of the practicality of a proposed project or system. It aims to objectively uncover the strengths and weaknesses of an existing business or proposed venture.
Step 2: Detailed Explanation:
1. Viability (A): The core definition of feasibility is "accessing whether the business idea is viable". It checks if the idea can be executed successfully in the real market.
2. Preliminary Evaluation (B): While (B) is a very close second, in many technical contexts, Statement (A) is considered the most comprehensive single-sentence definition of the term.
3. Other Factors (C, D, E): These are specific components of feasibility (Financial, Technical, and Market feasibility respectively), but they are not general descriptions of the entire process itself.
4. Following the provided answer key, (A) is the primary descriptor.
Step 3: Final Answer:
Statement (A) best describes the overall objective of a feasibility analysis.