ENTREPRENURESHIP MCQS FOR PRACTICE

1. Growth in both revenues and profits over a sustained period of time.

a. Sustained Growth
b. Profit Growth
c. Margin Growth
d. Revenue Growth
2. Many businesses start fast and never let up, which ___________a business financially
a. Stresses
b. Achievements
c. A and B
d. None of them
3. Warning sign that a business growing too fast
a. Declining product quality
b. E-mail starts going unanswered
c. Customer complaints are up
d. All of them
4. It is important that a business establish growth-related are
a. Plans and Objectives
b. Material and products
c. Markets and vendors
d. Completion and Competition
5. __________are generated when increasing production lowers the average cost of each
unit produced.
a. Economies of scale
b. Variable cost
c. Fixed costs
d. Economies of Scope
6. ___________ is any product of human intellect that is intangible but has value in the
market place.
a. Trade marks
b. Trade secrets
c. Intellectual property
d. None of above
7. ___________ can be any sign capable of being represented graphically.
a. Industrial design
b. Trade marks
c. Graphical indication
d. None of above
 e.
8. ____________ are the subject of security, the polish patent office to grant exclusive
rights.
a. Inventions and utility models
b. Geographical indications
c. Property rights
d. All of the above
9. There are ____________ provisory reasons for conduction on intellectual property audit
a. Three
b. One
c. Two
d. None of above
10. Under intellectual property law, owners are granted certain exclusive rights to a variety of
intangible assets such as
a. Musical
b. Mouth words
c. Hand wash
d. Intellectual tax
11. Internally generated growth is often called _________ because it does not relay on
outside intervention
a. Organic growth
b. Growth strategy
c. External growth
d. Internal growth
12. This is not part of internal growth strategies
a. New product development
b. International expansion
c. Licensing
d. All of above
13. Geographic expansion is another___________
a. External growth
b. Internal growth
c. International expansion
d. None of above
14. Many entrepreneurial first start ____________ overseas by responding to an unsolicited
inquiry from a foreign buyer
a. Overseas
b. Selling overseas
c. Selling products
d. All of above
15. When new products is properly executed there is ______________ upside potential
a. Fake
b. Rewards
 c. Tremendous
d. One of above

16. External growth strategy is not part of following

a. Mergers & acquisitions
b. Licensing
c. Franchising
d. International expansion

17. ____________ is a relationship between two or more firms that is developed to achieved
a specific goal
a. Joint venture
b. Technological alliances
c. Strategic alliances
d. All of above

18. Which is the modified form of a general partnership.

a. Preferred Stock
b. Common Stock
c. Limited Partnership
d. General partnership

19. The situation that involves doing something that is beneficial to oneself or the organization.
But may be unethical. This is called -------.
a. Ethical Dilemma
b. Ethical training program
c. Founder agreement
d. Buyback clause

20. An agreement binds an employee or another party (such as a supplier) to not disclose a
company’s trade secrets, is.

a. Non_compete agreement
b. Non –disclosure agreement
 c. Liquidity
d. None of the above

21. An agreement prevents an individual from competing against a former employer for a
specific period of time is called.
a. Non-compete agreement
b. Non-disclosure agreement
c. Employer identification number
d. None of the above

22. The company’s ability to meet its short term financial obligations is called.

a. Efficiency
b. Profitability
c. Stability
d. Liquidity

23. The income statement neglects the results of the operations of a firm over a.
a. Specified period of time
b. Unlimited time
c. Estimated time
d. None of the above

24. Assets include cash plus items that are readily convertible to cash such as account
receivables are.
a. Fixed Assets
b. Current assets
 c. Liabilities
d. Other assets

25. Once a firm has completed its sales forecast it must it forecast its as well.
a. Debt
b. Costs of sale
c. Interest
d. Liability

26. A statistical technique used to find relationships between variables for the purpose
predicting future value is.

a. Regression Analysis
b. Approach analysis
c. Basic analysis
d. Limited analysis
27. ------ Is building and maintain relationships with people whose interests are similar or
whose relationship could bring advantages to a firm.

a. Technology
b. Networking
c. Social contacts
d. none
28. A--------- Is a chart that despites the most important skills that are needed and whose
skills gaps exist.
a. Skills profile
b. Venture
c. Skills gaps
d. Hiring employees

29. The firms intends to compete and determine the different potential target markets in that
industry. The process is called.

a. Market penetration
 b. Market competition
c. Market segmentation
d. Strategic marketing

30. ---------------- is the set of attributes positive or negative that people associate with a
company.

a. Brand management
b. Brand loyalty
c. Brand
d. Name recognition

31. Driving forces for entrepreneurship are?

a) Entrepreneurs
b) Social Entrepreneurs
c) Co-pruners
d) Corporate Castoffs
32. A willingness to jump into things when it’s hard to even imagine what the possible set of
outcomes will be it comes under:
a) Tenacity
b) Flexibility
c) Tolerance for ambiguity
d) None of Above
33. The ability to see differences among various data and events comes under
a) Convergent thinking
b) Divergent thinking
c) Brainstorming
d) Mind mapping

34 . The sources of innovation inside the firm’s are:

a. Demographic factor
b. Inadequacy
 c. New knowledge
d. Changes in perception
34. The Lifestyle firms, often trade and don’t grow to any size; comes under
a. Entrepreneurship
b. ab.all & Medium size business
c. Manager of any size of business

d. Owner managers

35. How productively a firm utilizes its assets is known as:

a. Profitability

b. Stability

c. Liquidity

d. Efficiency

36 The process in which an impartial third party helps those involved in a dispute reach an
agreement is known as:

a. non disclosure agreement

b. non-compete agreement

c. Mediation

d. arbitration

37. Stock which is typically issued to conservative investors who have preferential rights
over common stockholders in regard to dividends and to the assets of the corporation in the
event of liquidation is known as

a. common stock

b. double taxation

c. preferred stock

d. articles of incorporation
38. Raw material, receiving, storing, and shipping are the activities of following value chain
primary activity:

a. Marketing and sales

b. Inbound logistics

c. outbound logistics

d. operations

39. Competition type in which businesses offering close substitute products is known as:

a. direct competition

b. indirect competition

c. future competition

d. perfect competition

40. Threat of new entrant will be high if

a. industry is highly occupied

b. bargaining power of supplier is high

c. industry is having low entry barrier

d. threat of substitute is high

41. Industry will be more attractive from the point of view of buyer

a. bargaining power of buyer is high

b. bargaining power of buyer is low

c. threat of substitute is high

d. threat of new entrant is low

42. Porter’s five forces doesn’t include:

 a. bargaining power of buyer

b. bargaining power of supplier

c. threat of new entrant

d. marketing and sale services

43. Secondary activities of porter’s value chain doesn’t include:

a. firm infrastructure

b. human resource management

c. outbound logistics

d. technology

44. The stage in which creative idea is put into a final form is known as:

a. insight

b. elaboration

c. evaluation

d. incubation

45. Firms that bring new products and services to the market by creating and seizing
opportunities regardless of the resources they currently control is known as:

a. Entrepreneurial Firms

b. life style firms

c. salary substitute firms

d. small and medium business enterprise

46. Price, promotion, distribution and sales are the part of following part of business:

a. competitor analysis

b. marketing strategy
 c. feasibility analysis

d. operational plan

47. Favorable economies of scale, capital requirement, product differentiation, and Govt.&
legal factors play an role in determining:

a. bargaining power of supplier

b. bargaining power of buyer

c. threat of substitute

d. None of above

48. A company’s ability to meet its short term obligations is known as:

a. Stability
b. Liquidity
c. Profitability
d. Efficiency

49. A form of business organization where two or more people pool their skills, abilities, and
resources to run a business is known as:

a. Partnership
b. Sole proprietorship
c. Franchisee
d. Licensing

50. Targeting customer, fulfillment and support, pricing are related to following component
of business:

a. Strategic resources
b. Core strategy
c. Partnership network
d. Customer interface

51. Large number of firms of approximately equal size is the characteristic of following type
of industry:

a. Mature industry
 b. Declining industry
c. Emerging industry
d. None of above

52. The strategy in which focuses on a narrow segment of the industry that might be
encouraged to grow through product or process innovation is known as:

a. Cost reduction strategy

b. Leadership strategy
c. Differentiation strategy
d. Niche strategy

53. A company’s ability to make profit is known as:

a. Stability
b. Efficiency
c. Liquidity
d. None of above