MULTIPLE CHOICE QUESTIONS - PDFCOFFEE.COM (2022)

MULTIPLE CHOICE QUESTIONS- entrepreneurship Question No: 1 Which of the following shows the process of creating something new? a) Business model b) Modeling c) Creative flexibility d) Innovation Question No: 2 Which one of the following gives suggestions for new product and also help to market new products? a) Existing products and services b) Federal government c) Distribution Channels d) Consumers Question No: 3 Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment? a) Merger b) Minority Interest c) Joint venture d) Majority interest Question No:4 GATT is established in 1947, under: a) German leadership b) U.S. leadership c) French leadership d) U.K. leadership Question No: 5 The entrepreneur was distinguished from capital provider in: a) Middle ages b) 17th century c) 18th century d) 19th and 20th century Question No: 6 A person who managed large project was termed as the entrepreneur in the _________. a) Earliest period b) Middle ages c) 17th century d) 19th and 20th century Question No: 7 What is the process by which individuals pursue opportunities without regard to resources they currently control? a) Startup management b) Entrepreneurship c) Financial analysis d) Feasibility planning Question No: 8 Having less than 50 percent of equity share in an international venture is called: a) Joint Venture b) Majority interest c) Minority interest d) Exporting Question No: 9 Having more than 50% ownership position that provides the entrepreneur with managerial control is called: a) Joint venture

b) Majority interest c) Horizontal merger c) Diversified activity merger Question No: 10 – Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete? a) New business model b) Anatomization c) None of the given options d) Creative destruction Question No: 11 Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity? a) Entrepreneurship b) Hyper competition c) Governmental laws d) Organizational culture Question No: 12 Which of the following is alternatively called corporate venturing? a) Entrepreneurship b) Intrapreneurship c) Act of stating a new venture d) Offering new products by an existing company Question No: 13 Individuals influencing an entrepreneur’s career choice and style are known as which of the following? a) Moral-support network b) Role model c) Professional support network d) Support system Question No: 14 The activity which occurs when the new venture is started is called: a) Motivation b) Business skills c) Departure point d) Goal orientation Question No: 15 The level at which an individual is viewed by society is called: a) Financial status b) Qualification c) Social status d) Achievement Question No: 16 Which one of the following is an important source of idea generation due to their familiarity with the needs of market? a) Existing products and services b) Distribution channels c) Federal government d) Consumers Question No: 17 Members of distribution channels are excellent sources for new ideas because: a) They earn a handsome profit from new business b) They are familiar with the needs of the market c) They do not bother if entrepreneur bears a loss d) They have well-developed sales force

Question No: 18 Which one of the following is the most important characteristic of a successful business website? a) Innovation b) Speed c) Graphics d) Products Question No: 19 Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? a) Idea Stage b) Product Planning Stage c) Product Development Stage d) Test Marketing Stage Question No: 20 SBA stands for: a) Small business accountants b) Small business administration c) Small business adequacy d) Small business advisors Question No: 21 Why should an entrepreneur do a feasibility study for starting a new venture a) To identify possible sources of funds b) To see if there are possible barriers to success c) To estimate the expected sales d) To explore potential customers Question No: 22 Information regarding all of the following is related to operations, EXCEPT: a) Location b) Promotion c) Raw materials d) Labor skills Question No:23 A performance and credit rating scheme has been launched by the MSME Ministry to assess creditworthiness and capabilities of industries in the sector. What is it called? (a) Performance and Credit Rating Scheme (b) Zero Defect Zero Effect Certification (c) Performance and Economy Rating Scheme (d) None of the above Question No: 24 A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006): (a) Rs. 15 Lakh (b) Rs. 20 Lakh (c) Rs. 25 Lakh (d) Rs. 30 Lakh Question No: 25 EDP (Entrepreneurship Development Programmes) is required to help: (a) Existing entrepreneurs (b) First generation entrepreneurs (c) Future generations entrepreneurs (d) None of the above Question No: 26 A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as? (a) Ecopreneur (b) Technopreneur

(c) Intrapreneur (d) Social Entrepreneur Question No: 27 A women entrepreneur is supposed to have a minimum financial interest in share capital of entrepreneur’s enterprise: (a) 35 per cent (b) 51 per cent (c) 25 per cent (d) None of the above Question No: 28 Family business always interested to handover the change of his business to: (a) Indian Administration Officers (b) Professional Managers (c) Next generation (d) None of the above Question No: 29 A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as? (a) Ecopreneur (b) Technopreneur (c) Intrapreneur (d) Social Entrepreneur Question No: 30 Venture capital is concerned with: (a) New project having potential for higher profit (b) New project of high technology (c) New project having high risk (d) All the above. Question No:31 In stage of responsibility allocation process the entrepreneur follows: (a) High centralized decision making process (b) Highly decentralized decision making process (c) Somewhat centralized decision making process (d) No particular standards Question No:32 According to the governing bodies of common laws, the life of trade secret is (a) 12 years (b) 17 years (c) 20 years (d) As long as it remains confidential Question No:33 money or property owned or used in business (a) capitalism (b) capital (c) mentor (d) wage

Question No:34 A decision-making process in which the costs of taking an action are compared to the benefits (a) capital (b) capitalism (c) cost/benefit analysis (d) venture philanthropy

Question No:35 Fixed amount of money paid to an employee at regular intervals (a) wage (b) strategy (c) salary (d) profit

Question No: 36 A percentage of a sale paid to a salesperson (a) Commission (b) Acquisition (c) Capitalism (d) Capital

Question No: 37 Something tangible that exists in nature or is made by people (a) product (b) Profit (c)Capital (d) Service

Question No: 38 fixed payment per hour for work performed (a) Salary (b) Service (c) Gazelle (d) Wage

Question No: 39 A microenterprises that permits its owners to follow a desired pattern of living, such as supporting college costs or taking vacations (a) entrepreneur (b) Lifestyle business (c) Social business (d) Microenterprise

Question No: 40 A person who recognizes an opportunity and organizes and manages a business, assuming the risk for the sake of potential return (a) entrepreneur (b) mentor (c) trade-off (d) strategy

Question No: 41 A subset or segment of social entrepreneurship wherein financial and human capital is invested in not-for-profits by individuals and for-profit enterprises, with the intention of generating social rather than financial returns on their investments (a) entrepreneur (b) Venture philanthropy (c) Voluntary exchange (d) Strategy Question No: 42 A firms with five or fewer employees, initial capitalization requirements of under $50,000, and the regular operational involvement of the owner (a) Mentor (b) Franchise (c) Service (d) Microenterprise Question No: 43 The exercise of reasonable care in the evaluation of a business opportunity. (a) Franchise (b) Dividend (c) Due Diligence (d) Service Question No: 44 A plan for how an organization or individual plans to proceed with business operations and outperform that of its competitors (a) Strategy (b) Service (c) Trade-off (d) Microenterprise Question No: 44 Intangible works that provides time, skills, or expertise in exchange for money (a) Salary (b) Service (c) Dividend (d) Product Question No: 45 Business activities that avoid harm to the environment or help to protect it in some way

(a) free-enterprise system (b) Entrepreneur (c) Social entrepreneurship (d) Green entrepreneurship Question No: 46 A transactions between two parties who agree to trade money for a product or service (a) Voluntary Exchange (b) Entrepreneur (c) Strategy (d) Franchise Question No: 47 The act of giving up on one thing for another (a) Strategy (b) Franchise (c) Trade-off (d) Profit Question No: 48 A company created to achieve a social objective while generating a modest profit to expand its reach, improve the product or service, and subsidize the social mission (a) Lifestyle Business (b) Commission (c) Capitalism (d) Social business

Question No: 49 Amount of earnings remaining after all costs are deducted from the income of a business (a) Profit (b) Salary (c) Mentor (d) Product Question No: 50 Which one is NOT an advantage of Entrepreneurship? (a) Can choose a business of Interest (b) You can be creative (c) Make a lot of money (d) You will make decision alone

Answer Key: 1(d), 2(c), 3(b), 4(b), 5(c), 7(b), 8(c), 9(b), 10(d), 11(b), 12(b), 13(b), 14(c), 15(c), 16(b), 17(b), 18(b), 19(c), 20(b), 21(b), 22(c), 23(a), 24(c), 25(b), 26(c), 27(c), 28(c), 29(c), 30(a), 31(a), 32(d),33(b),34(c),35(c),36 (a), 37(a),38(d), 39(b),40(a),41(b),42(d),43(c),44(c),45(d),46(a),47(c),48(d),49(a),50(d)

13-1. An entrepreneur is someone who assumes the major risks of a new business by committing which of the following? a. equity. b. time. c. career. d. all of the above. d 13-2. An informal group of innovative employees who are permitted to digress temporarily from their regular tasks to develop new ideas are referred to as: a. underground. b. skunkworks. c. yahoos. d. intrapreneurs. b 13-3. It is estimated that approximately _____ percent of small businesses fail within the first five years. a. 10. b. 25. c. 50. d. 75. d 13-4. Which of the following is not a personal characteristic often found in an entrepreneur? a. self-confident. b. independent-minded. c. perceptive. d. follower. d 13-5. The period of business when an entrepreneur must position the venture in a market and make necessary adjustments to assure survival is called the: a. pre-startup stage. b. startup stage. c. early growth stage.

d. later growth stage. b 13-6. Which of the following is usually included in a business plan? a. detailed description of the product or service. b. marketing and promotional plans. c. management and staffing. d. all of the above. d 13-7. Which of the following is a reason why a person might prefer to purchase a franchise rather than open a completely new business? a. higher failure rate. b. increased independence. c. ability to benefit from previous experience. d. reduced royalty fees. c 13-8. According to the textbook, which of the following management functions is the least well done? a. planning. b. organizing. c. leading. d. controlling. a 13-9. Which of the following is not a common motivation of an entrepreneur? a. desire for independence. b. search for personal and professional growth. c. desire to maintain the status quo. d. search for more rewarding work. c 13-10. Which of the following are risks for entrepreneurs in small business? a. interference with personal lives. b. psychological stress. c. social and family pressure. d. all of the above. d

13-11. A strategy of courting other companies that have knowledge, ideas or promising products is known as which type of intrapreneurship? a. administrative intrapreneurship. b. opportunistic intrapreneurship. c. acquisitive intrapreneurship. d. imitative intrapreneurship. c 13-12. A person within a company who takes a leadership role and is positioned to help ensure the success of an idea or innovation is often referred to as a: a. supporter. b. champion. c. leader. d. evangelist. b 13-13. Which of the following is a purpose of a business plan? a. to attract financing. b. to inform competitors of plans. c. to discipline the entrepreneur to think of all aspects of the proposed venture. d. a & c. d 13-14. Who said that the job of the entrepreneur is "creative destruction"? a. Peter Drucker. b. Pierre Trudeau. c. Joseph Schumpeter. d. Brian Mulroney. c 13-15. All of the following were invented by a Canadians except: a. IMAX multiscreen projection. b. snowmobile. c. twin engine airplane. d. post-it note. d

Question No: 1 Which of the following shows the process of creating something new? a) Business model b) Modeling c) Creative flexibility d) Innovation Question No: 2 Which one of the following gives suggestions for new product and also help to market new products? a) Existing products and services b) Federal government c) Distribution Channels d) Consumers Question No: 3 Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment? a) Merger b) Minority Interest c) Joint venture d) Majority interest Question No:4 GATT is established in 1947, under: a) German leadership b) U.S. leadership c) French leadership d) U.K. leadership Question No: 5 The entrepreneur was distinguished from capital provider in: a) Middle ages b) 17th century c) 18th century d) 19th and 20th century Question No: 6 A person who managed large project was termed as the entrepreneur in the _________. a) Earliest period b) Middle ages c) 17th century d) 19th and 20th century Question No: 7 What is the process by which individuals pursue opportunities without regard to resources they currently control? a) Startup management b) Entrepreneurship c) Financial analysis d) Feasibility planning Question No: 8 Having less than 50 percent of equity share in an international venture is called: a) Joint Venture b) Majority interest c) Minority interest d) Exporting Question No: 9 Having more than 50% ownership position that provides the entrepreneur with managerial control is called: a) Joint venture b) Majority interest c) Horizontal merger c) Diversified activity merger Question No: 10 – Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete? a) New business model b) Anatomization c) None of the given options d) Creative destruction Question No: 11 Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity? a) Entrepreneurship b) Hyper competition c) Governmental laws d) Organizational culture Question No: 12 Which of the following is alternatively called corporate venturing? a) Entrepreneurship b) Intrapreneurship c) Act of stating a new venture d) Offering new products by an existing company Question No: 13 Individuals influencing an entrepreneur’s career choice and style are known as which of the following? a) Moral-support network b) Role model c) Professional support network d) Support system Question No: 14 The activity which occurs when the new venture is started is called: a) Motivation b) Business skills c) Departure point d) Goal orientation Question No: 15 The level at which an individual is viewed by society is called: a) Financial status b) Qualification c) Social status d) Achievement Question No: 16 Which one of the following is an important source of idea generation due to their familiarity with the needs of market? a) Existing products and services b) Distribution channels c) Federal government d) Consumers Question No: 17 Members of distribution channels are excellent sources for new ideas because: a) They earn a handsome profit from new business b) They are familiar with the needs of the market c) They do not bother if entrepreneur bears a loss d) They have well-developed sales force Question No: 18 Which one of the following is the most important characteristic of a successful business website? a) Innovation b) Speed c) Graphics d) Products Question No: 19

Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? a) Idea Stage b) Product Planning Stage c) Product Development Stage d) Test Marketing Stage Question No: 20 SBA stands for: a) Small business accountants b) Small business administration c) Small business adequacy d) Small business advisors Question No: 21 Why should an entrepreneur do a feasibility study for starting a new venture a) To identify possible sources of funds b) To see if there are possible barriers to success c) To estimate the expected sales d) To explore potential customers Question No: 22 Information regarding all of the following is related to operations, EXCEPT: a) Location b) Promotion c) Raw materials d) Labor skills Question No:23 A performance and credit rating scheme has been launched by the MSME Ministry to assess creditworthiness and capabilities of industries in the sector. What is it called? (a) Performance and Credit Rating Scheme (b) Zero Defect Zero Effect Certification (c) Performance and Economy Rating Scheme (d) None of the above Question No: 24 A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006): (a) Rs. 15 Lakh (b) Rs. 20 Lakh (c) Rs. 25 Lakh (d) Rs. 30 Lakh Question No: 25 EDP (Entrepreneurship Development Programmes) is required to help: (a) Existing entrepreneurs (b) First generation entrepreneurs (c) Future generations entrepreneurs (d) None of the above Question No: 26 A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as? (a) Ecopreneur (b) Technopreneur (c) Intrapreneur (d) Social Entrepreneur Question No: 27 A women entrepreneur is supposed to have a minimum financial interest in share capital of entrepreneur’s enterprise: (a) 35 per cent (b) 51 per cent (c) 25 per cent (d) None of the above Question No: 28 Family business always interested to handover the change of his business to: (a) Indian Administration Officers (b) Professional Managers (c) Next generation (d) None of the above Question No: 29 A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as? (a) Ecopreneur (b) Technopreneur (c) Intrapreneur (d) Social Entrepreneur Question No: 30 Venture capital is concerned with: (a) New project having potential for higher profit (b) New project of high technology (c) New project having high risk (d) All the above. Answer Key: 1(d), 2(c), 3(b), 4(b), 5(c), 7(b), 8(c), 9(b), 10(d), 11(b), 12(b), 13(b), 14(c), 15(c), 16(b), 17(b), 18(b), 19(c), 20(b), 21(b), 22(c), 23(a), 24(c), 25(b), 26(c), 27(c), 28(c), 29(c), 30(a)

Top Articles

Latest Posts

Article information

Author: Prof. An Powlowski

Last Updated: 11/12/2022

Views: 6381

Rating: 4.3 / 5 (44 voted)

Reviews: 91% of readers found this page helpful

Author information

Name: Prof. An Powlowski

Birthday: 1992-09-29

Address: Apt. 994 8891 Orval Hill, Brittnyburgh, AZ 41023-0398

Phone: +26417467956738

Job: District Marketing Strategist

Hobby: Embroidery, Bodybuilding, Motor sports, Amateur radio, Wood carving, Whittling, Air sports

Introduction: My name is Prof. An Powlowski, I am a charming, helpful, attractive, good, graceful, thoughtful, vast person who loves writing and wants to share my knowledge and understanding with you.