17. Which one of the following is the first step in the entrepreneurial process?

A. Developing successful business ideasB. Deciding to become an entrepreneurC. Growing

the entrepreneurial firmD. Moving from an idea to an entrepreneurial firm
18. The resistance of employees in an organization against flexibility, growth, and
diversification can be overcome by developing:
A. EntrepreneurshipB. IntrapreneurshipC. Managerial domainD. Administrative domain
19. The entrepreneur’s_______________ depends on his perception of the opportunity.
A. Commitment to opportunityB. Commitment of resourcesC. Control of resources
D. Strategic orientation
20. Which of the following statements about the entrepreneurial climate is (are) true?
A. Trial and error are discouraged
B. Resources of the firm need to be available and easily accessible
C. A multidisciplinary approach is discouragedD. Failures are not allowed
21. The objective of KVIC are ________
a)Provide employment b)Create self Reliance amongst the poor c)Enhance strong rural
community spirit d)All
22. KVIC was established in ______ by an act of the parliament
a) 1958 b)1957 c)1959 d)1961
23. A visualization of a business enterprise before operation are started is known as ____ a)
Project Report b) Survey c) Feasibility d) Business Report
24. _____ Process of identifying and selecting the course of action to solve specific problems
a)Controlling b) Decision making c) Planning d)All
25. _______ means a legal organization created through investments by two or more
companies to pursue a commercial activity. a) Joint Venture b) Franchisor c) Franchise
d) Ancillary unit.
26. ____ is an instrument you issued by the buyer’s bank, authorising the seller to draw with
certain terms and stipulation in a legal form
a) Bills of exchange b) Negotiable instrument c) Letter of credit d) Draft
27.Need Hierarchy theory is determined by _________
a) Physical b)Social c)Psychological needs d)All
28. _____ concerns individuals issues of excellence, competition, challenging goals,
persistence and overcoming difficulties
a) Need for achievements b) Need for affiliation c) Need for power d) Need Hierarchy
29. ______ is one’s strength of drive towards an action
a) Motive b) Motivation c) Achievement d)All
30. _____ is one’s urge to achieve his or her goals.
a) Motive b) Motivation c) Experience d) Psychological needs
31. A Lease is a sort of ______
a) Agreement b) Contract c) Amendment d) Document
32. In leasing owner of an asset is called __________
a) Lessor b) Lessee c) Bailee d) Bailor
33. In leasing user of an asset is called _______
a) Bailee b) Bailor c) Lessee d) Lessor
34. Advantages of leasing is ________
a) Alternative use of funds b) Beneficial for small firms c) Tax shielding d) All
35. Which is not the problem of rural women entrepreneur ______
a) Public or finance b) Low Mobility c) Risk bearing ability d) Discrimination in upbringing
36. ______ is the limitation of family business
a) Caste b) Dispute c) Co ordination among the family d) Consent
37. A Sick unit is one which incurs cash losses for ______ and in the judgement of the bank
is likely to continue to incur cash losses for the current year as well as for following year
1
a) 1 Year b) 2 years c) 1 Years d) 15 Months
2

38. Industrial sickness means the cumulative losses exceeds _________

a) Capital b) Reserve c) Profit d) Both a and b
39. In India which sector majorly creating job _______
a) Manufacturing b) IT and BPO c) Agriculture d) Public sector
40. The India’s Information Technology bill passed by the Indian parliament on
________ a) 17 May 1998 b) 17 May 2001 c) 17 May 2002 d) 17 May 2000

41. India entered the age of E-commerce the day government deregulate the internet service
provider (ISP) policy in _________
a) Nov 1999 b) Nov 2002 c) Nov 2000 d) Nov 1998