1. Any patents, trademarks , copyright or trade secrets held by the entrepreneur is known as a. Disclosure document b. Patent c.

Intellectual property d. None of the mentioned 2. The organization will never be able to make the necessary changes without_________ a. Top management commitment b. Employees c. Workers d. None of the mentioned 3. The ways entrepreneurs make decisions. a. Entrepreneurial domain. b. Reverse brain storming c. Heuristics d. Reverse brain storming 4. A trademark is 5. A word, symbol, name or device that a business uses to identify its goods. a. A legal protection for information on foreign products. b. Legal protection for intellectual works. c. Legal protection for a U.S. product exported to another country. 6. locus of control is a. A feeling b. Attitude c. Attribute d. None of the above 7. Licensing arrangements have a. Low risk process involved b. Easy way to generate incremental income c. Several pitfalls d. All of the above 8. Personal characteristics to be a successful entrepreneur includes a. Understanding environment b. Creating management options c. Encourage open discussion d. All of the above 9. International entrepreneurship is a. Licensing b. Exporting c. Both of the mentioned options d. None of the two mentioned

Which of the following is not a characteristic that is helpful for an entrepreneur to have? a. Self-esteem b. Caution c. Drive d. Optimism 10. Hindrance for going in the international business is known as a. Synergy b. Turn key point c. Trade barrier d. Minority interest 5) In chronological age , most entrepreneurs start their careers between ages a) 22 and 55 b) 30 and 55 c) 40 and 65 d) None of the given options 6) ___________________ is the combination of at least two firms doing similar businesses at the same market level. a) Diversified activity Merger b) Horizontal Merger c) Joint Venture d) Vertical Merger

7) Which of the following is NOT recognized as a misconception about entrepreneurship? a) Entrepreneurship is found only is small businesses. b) Entrepreneurship is easy. c) Successful entrepreneurship needs only a great idea. d) Entrepreneurial ventures and small businesses are different

9) All of the following are recognized as potential sources of entrepreneurial ideas EXCEPT: a) Work experiences, skills, and abilities b) Familiar and unfamiliar products and services c) Personal interests or hobbies d) All of the selections are recognized as potential sources of entrepreneurial ideas. 10) An _______________________ is an individual who creates something for the first time, is a highly driven individual motivated by his or her own work and personal ideas. a) Entrepreneur b) Inventor c) Both a and b d) None of the given options

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Constructive companies h. A good idea 3. Small risk takers d. To be independent g. Doesn’t matter 6. f. To make money f. To be successful in an entrepreneurial venture. A successful entrepreneur relies on which of the following for critical management advice a. Entrepreneurs are best as e. Financial sources d. Manufacturing companies g. Hard work d. To be powerful 2. To be famous h. Luck c. Money b. Entrepreneurs typically form e. A variety of ventures . Managers Venture capitalists Planners Doers 4. g. High risk takers b. No one 5. Internal management team b. Entrepreneurs are: a. h. Moderate risk takers c. External management professionals c. you need a.Choose the correct option (simply highlight the correct option) 1. An entrepreneur’s primary motivation for starting a business is e. Service businesses f.

Father d. Children 10. Spouse b. None of the above 3. Understanding environment j. locus of control is . Entrepreneurs and ventures capitalists: a. All of the above 2. Get along well b. Encourage open discussion l. Without top management commitment. Not be able to make any changes g. Creating management options k. Are in conflict 9.7. Personal characteristics to be a successful entrepreneur includes i. Just fit into the crowd at a party 8. An entrepreneur’s primary motivation for high ego and need for achievement is based upon a relationship with: a. Not be able to make effective changes h. Are the best friends c. Are bores at a cocktail party c. Forties d. Are cordial friends d. An individual usually begins his or her first significant entrepreneurial business enterprise at what age a. the organization will e. Will never go to parties d. Mother c. Entrepreneurs: a. Fifties Choose the correct option (simply highlight the correct option) 1. Teens b. Twenties c. Are the life of the party b. Be able to make changes f.

All of the above 7. Customers. Complexity of wok increases h. Joint ventures have been used by entrepreneur: e. Risk. When complementary resources can be combined g. When synergy is present f. First stage of production planning and development processes is . A feeling Attitude Attribute None of the above 4. Both of the options given h. Several pitfalls l. Entrepreneurs are concerned about basic issues of: e. Work load increases f. Complexity of venture increases g. Is the combination of firms that produce closely related projects in same area g. l. Licensing arrangements have i. costs and benefits h. When the entrepreneur wants to purchase local knowledge f. Economies of scale can be achieved h. None of the above 6. None of the above 5. Main reason(s) for merger is (are) e. A horizontal merger is e. Easy way to generate incremental income k. None of the above 9. Entrepreneurial experience becomes increasingly important as e. All of the above 10. Is the combination of firms that produce same products and sell in different areas h. Sales. Low risk process involved j. k. Is the combination of firms in successive stages of production f. When rapid entry in to the market is needed g. costs and benefits f. sales and costs g.i. None of the above 8. j.

Gathering Information from Primary Sources. It identifies the major interacting components. both internal and external c. A review of where the company has been and considers environmental factors.e. One effective way to begin the marketing plan is a. b. None of the options given 3. None of the options given 5. None of the options given 6. To make a list of the information that will be needed to prepare the marketing plan. Is a sample of 10 or 12 potential employees who participate in a discussion? c. None of the above 7. One of the difficult decisions a. None of the options given 4. Gathering Data from Secondary Sources c. In setting marketing goals and objectives the entrepreneur must a. It is all about the internal envoi mental factors b. None of the options given 2. The financial plan provides a complete picture of: . Must satisfy customers d. h. A focus group a. Is determining the appropriate price for the product.Is about the promotion of the product d.Is a sample of 10 or 12 potential customers who participate in a discussion? d. Considering Strengths and Weaknesses c. f. g. It’s about the financial needs of the venture d.Is about the distribution of the product b. Idea stage Concept stage Establishing and evaluating criteria stage None of the above 1. The situation analysis is a. Distribution place c. b. Which of the following statement is true for marketing system? a. Defining Target Market/Opportunities and Threats. d. c. d. Set the price b.Is a sample of 10 or 12 potential investors who participate in a discussion? b.

How much and when the funds are coming into the organization.The S Corporation combines the tax advantages of the partnership and the corporation. S Corporations represent almost half of all corporate filings. None of the options given d. Before developing the pro forma income statement. d. Which of the statement is not true? a. the entrepreneur should a. c. Limited liability Company (LLC) offers similar disadvantages as the S Corporation 1. Individuals who help the entrepreneur in business activities Role models Professional-support network Parents None of the mentioned options 3. b. What causes people to do something? Need for achievement Need for independence Motivation None of the mentioned options 2. Which of the following statement is true? a. Cash flow results from the difference between all cash available and cash payments. c.a. Capital budgets. Where the funds are going. Prepare operating budgets b. Cash flow is same as profit. Al of the options given 8. b. c.A popular new entity is the limited liability company (LLC) d. b.Both of the options given (a. 10. How much cash is available? d. The managers in an organization strongly supporting intrapreneurship is called ----------------------- . c.Profit is the result of subtracting expenses from sales. Cash flows only when actual payments are not made but only received.b) 9.

and --------------------------Motivation Business skills Occupational background In brainstorming No criticism is allowed Quantity of ideas is desired None of the mentioned options Both of the mentioned options 2.involves a manufacturer giving a foreign manufacturer the right to use a patent.Top management commitment Upper management commitment Lower management intrapreneur Upper management intrapreneur 4. trademark or technology in return for a royalty Licensing Turn-key projects Management contracts None of the mentioned options 5. The solution development is Big-Dream approach Parameter Analysis Creative synthesis None of the above 4. A technique that asks questions about objects or ideas in an effort to develop a new idea is Heuristics Matrix charting Forced relationships Attribute listing 3. -----------------------. Female entrepreneurs differ in terms of --------------------. ------------. Perceived benefits /risks involve the following factors: Utility to customer .

or selling similar idea A public domain None of the above Marketing mix includes: Product or service Financing Consumer Retailer 2. Industry analysis should include information on: Market size of competitor’s product Growth rate of suppliers New products entry Economic conditions 4. Marketing research involves the gathering of data in order to determine information as: Who will buy the product? .Consumption habits Buying motives All of the above 5. Goals may not be measurable. Which of the following statement is true for tax advantage of proprietorship? There is double tax on profits There is no capital stock tax or penalty for retained earnings Both of the options given None of the options given 3. Goals may not be specific 5. We need to update the business plan because………… Environmental factors and internal factors can change the direction of the plan Goals set by the entrepreneurs may be unreasonable. using. A patent is A document between government and an inventor Grants holder protection from others making.

a. Problem inventory analysis d. Such differences are studied by international entrepreneurs under __________ environment. Entrepreneurship d. Brain storming c. Cultural d. The creative process for problem solving that involves making the strange familiar in first step and then making the familiar strange through personal. especially human behavior is known as _____________. Entrepreneurial success has been significant because of the culture and the political and economic systems in _________. . Which of the following techniques is an excellent method for initially screening ideas and concepts in addition to generating new ideas? a. When the multiplicity of environments become too complex to handle. point of purchase displays are not allowed in retail stores. Technological 7. a. Motivation 2. Sale out the foreign business COM 5. Gordon method c. Focus group b. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. Retailer c. A set of reasons for engaging in a particular behavior. a. What could be the best source of this information? a. Diversify c. Reverse brainstorming 3. Scientific method 4. Synectics b.What price should be charged? What is the most effective promotion strategy? All of the mentioned options 1. Decentralize operations d. In some countries. direct or symbolic analogy is called _________. Economic b. Competition d. Government bureau 6. Political c. Checklist method d. Go for mergers b. Supplier b. Values b. a. the international entrepreneurs often __________. Vision c.

This is an example of: a. Having more than 50% ownership position that provides the entrepreneur with managerial control is called ___________. a. The development of a new venture based on an inventor’s work often requires ________. Asian countries c. a. Hiring a manager b. Highly educated staff 1. Balance of payment d. Licensing d. Which of the following is not followed in brainstorming? a. Majority interest c. Heavy investment from financers c. Management contract b. Joint venture b. with no on dominating the discussion 3. Economic development b. International trade . Establishing new venture 2. Transition economies d.a. Diversified activity merger 9. a. The session should be fun. The under-developed or lesser developed countries need manufacturing technology and infrastructure and yet do not want to turn over substantial portion of their economy to foreign ownership. European countries b. Criticism is done by the group members b. Developing a product d. Indirect exporting c. Quantity of ideas is required d. The wilder idea is batter c. Middle east 8. Which of the following is a solution to this dilemma? a. Engaging an attorney c. Turn-key project 10. The importance of intellectual property should be understood by entrepreneur even before _________. The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights to distribute it in the US. Skilled human resources d. Horizontal merger d. Barter system c. Expertise of an entrepreneur b.

During this time firm will cover its development costs b. The entrepreneur can not file after the mark already been in use . International patent 8. Value analysis 6. Which of the following statements is not true about trademarks? a. What are unique characteristics of each market? b. a. Design patent c. which of the following decisions are not covered under strategic planning of an entrepreneur? a. Heuristics b. To limit the monopoly of the firm d. Utility patent b. Firm will earn a sufficient profit during this period c. Forced relationship d. Developing a new idea through inquiry and testing is called _________. Who should be involved in marketing decisions? c. The filing date for the trademark becomes the first date use of the mark d. A trademark could be a slogan or a particular sound b. Some trademarks have no relationship with the product c. a. Which of the following grants the owner protection from anyone else making. It will stimulate idea and development of a batter product 5. What customer benefits are provided by the product d. Domestic sales 10. Direct export c. Develop a list of problems 9. Indirect export d. In an international perspective. Solve unknown problems d. What are the company’s major strengths and weaknesses? 7. Selling goods to another country through a person in the entrepreneur’s home country is known as _________. The problem inventory analysis should b used primarily to: a. Identify product idea for further evaluation c. using and selling the identified innovation? a. Scientific method c. Plant patent d. A patent is granted for a specified amount of time because of the assumption: a. Export b. Reflect a new business opportunity b.4.

Commercialization stage d. 17 years c. Idea of new product is tested in potential consumers to determine consumer acceptance at _________ stage. Product planning and development process is a part of product life cycle 12. Merger b. Computer software b. Joint venture c. Licensing is a significant marketing strategy to: a. Product development stage c. Poems and songs d. Minority interest d. Pirate others’ patents c. Computer hardware c. Test marketing d. the life of trade secret is: a. As long as it remains confidential 15. The evaluation criteria for the new product should include all of the following except: a. 20 years d. Determination of market demand b. Determination of the suppliers c. Which of the following can not be covered under the copyright protection? a. Majority interest 16. Commercialization 14. Product development c. 12 years b. Product should be profitable 17. Use intellectual property of others b. Pricing and marketing policies of other competing firms d. According to the governing bodies of common laws. Concept b.11. Models and sculpture 13. Control the costs . a. Grow the business in new markets d. Test marketing stage b. Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment? a. The product life cycle is included in which stage of product planning and development process? a.

E-commerce c. a. Investor’s b. Partnership b. Marketing 2. Innovation c. the ownership of venture is reflected by ownership of shares of stock? a. Marketer’s c. E-trading d. Opportunity d. European community – EC c. Products 1. Proprietorship 3. Strength b. Free trade area – FTA b. The north American free trade agreement – NAFTA 20. Limited partnership c. Automated stock replenishment. The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs. The _______ plan shows whether the business is economically feasible or not. Entrepreneur’s d. a.18. Bankers say that most businesses fail because of the _____ inability to plan properly. The _________ of a venture could be that the company has experience in related business. a. E-business b. The most important characteristic of a successful business website is a. a. Financial b. Weakness c. Threat . E-transaction 19. electronic selling and processing of customers orders and payments are examples of: a. General agreement on tariffs and trade – GATT d. Economic d. Business c. Consultant’s 4. subsidies and quotas is _________. In which of the following. Corporation d. Graphics d. Speed b.

It should be simple and short d. Export marketing 9. Directors.5. Direct mail marketing b. Secondary data can be obtained from all of the following sources. Size d. the death of entrepreneur results in the termination of venture. Internet b. Which of the following are NOT the Accredited Investors? a. Bureau of statistics d. It should provide for the use of existing resources c. Online marketing c. a. Investors whose net worth is $1 million d. Weekly c. a. Daily b. Which of the following is not a characteristic of marketing plan? a. goals and strategies should be projected __________. a. except: a. Proprietorship b. a. Quarterly 6. Which of the following is one of the simplest form and lowest in entry costs. Success c. officers. The marketing plan should focus on strategies and for the first year.000 of the issuer’s securities c. Magazine c. It should be rigid 7. Advertising and publicity are used to: a. Communicate with customers . Limited partnership d. In ________. the ability to raise capital depends on the __________ of the business. In partnership. Expansion b. Corporation 10. Investors who purchase less than $150. Create awareness of the new venture b. It should provide a strategy to accomplish the company mission b. Limited company c. Nature 1. Institutional investors b. and general partners of the issuing company 2. Sales promotion d. Focus group 8. Monthly d.

There is no limit 4. Record keeping b. $ one million d.c. Having more partners d. $ ten thousand b. Show respect for employees b. Recruiting and hiring of new employees may occur at which level? a. Regional Development Finance Corporation d. Middle management level c. Khushhali Bank c. An entrepreneur may finance fixed assets by: a. Senior management level d. Installment loans c. Short-term debt d. Which of the following is the oldest development financing institution? a. Entry level b. EXCEPT: a. Try to do everything himself d. Long-term debt 6. The entrepreneur will find it easier to maintain control over cash. All of the following should be followed by entrepreneur for being effective leader. $ hundred thousand c. Promote the products d. Industrial Development Bank of Pakistan . Small Business Finance Corporation b. What is the practical maximum limit to the amount of loan money guaranteed by Small Business Administration? a. Financial controls 7. At all three levels 8. Inventory loans b. disbursements and inventory through: a. All of the given options 3. Encourage and praise others 5. Show concern for employees’ welfare c. Hiring new employees c.

000 d. ► Entrepreneur Venture capitalist ► ► ► Manager None of the mentioned options Question No: 2 ( Marks: 1 ) .9. one of them is: ► ► ► ► Being innovative Personal entrepreneurial skills Social skills None of the mentioned options . $500. $50. Under Rule 504 of Regulation D. a company can sell up to ______ of securities in any 12-month period.Please choose one The skills required by entrepreneurs can be classified in to three main areas. $1. $100.000 b.000 c.000. a.000 A(n) ------------------is a professional money manager who makes risk investments from a pool of equity capital to obtain a high rate of return on investments.

Please choose one What causes people to do something? ► Need for achievement .Please choose one The entrepreneur employs a flat organizational structure: ► ► ► ► Which is hierarchical in nature? Which is formalized With informal networks None of the mentioned options Question No: 5 ( Marks: 1 ) . ► ► ► ► Venture Organizational culture Business plan None of the mentioned options Question No: 4 ( Marks: 1 ) .must be developed in order to exploit the opportunity defined.Please choose one A good --------------.Question No: 3 ( Marks: 1 ) .

Which of the following is not stage of this process? ► ► ► ► Idea stage Concept stage Production stage Product development stage .Please choose one The product planning and development process is divided in five major stages.Please choose one A -----------------is the combination of two firms that produce closely related projects in the same area.► ► ► Need for independence Motivation None of the mentioned options Question No: 6 ( Marks: 1 ) . ► ► ► ► Vertical merger Product extension merger Diversified activity merger Horizontal merger Question No: 7 ( Marks: 1 ) .

Please choose one A --------.Please choose one The situation analysis is a review of where the company has been and considers many of the ► ► Products or services Pricing . ► ► ► ► Utility Patent Design Patent Plant patent International Patent Question No: 9 ( Marks: 1 ) .Please choose one The marketing plan should answer the basic question: ► ► ► ► Where have we been? Where do we want to go (short term)? How do we get there? All of the mentioned options Question No: 10 ( Marks: 1 ) .Question No: 8 ( Marks: 1 ) .reflects the appearance of an object.

Please choose one . ► ► ► ► Short-term Long term Both of the options given None of the options given Question No: 12 ( Marks: 1 ) .Please choose one The financial plan provides the ------------basis for budgeting.► ► Environmental factors Distribution Question No: 11 ( Marks: 1 ) .Please choose one When the business does not have assets to support a loan. the entrepreneur may need: ► ► ► ► Inventory loans Accounts payable loans Character loans Equipment loans Question No: 13 ( Marks: 1 ) .

Please choose one ------------is free advertising provided by a media outlet.Please choose one Marketing research involves the gathering of data in order to determine information as: ► ► ► ► Who will buy the product? What price should be charged? What is the most effective promotion strategy? All of the mentioned options Question No: 15 ( Marks: 1 ) .Synectics is a: ► ► ► ► Step in entrepreneurial process Form of international entrepreneurship Creative problem solving technique None of the mentioned options Question No: 14 ( Marks: 1 ) . ► ► Publicity Internet Advertising .

► ► Trade Shows Advertising Agency .

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---------------------------.are barriers to new product creation and development. ► Opportunity parameters ► Opportunity identification ► Opportunity circulation ► Opportunity multiplication Question No: 2 ( Marks: 1 ) .Please choose one New business venturing refers to the: ► Creation of new business within an existing organization ► Transformation of organizations .

but not from: ► Auditors ► Managers ► Mentors ► Tycoons Question No: 4 ( Marks: 1 ) .Please choose one Internal beliefs appear to differentiate entrepreneurs from the general public.Please choose one The country affected by several economic and social factors is: ► Germany ► Pakistan ► France ► Argentina Question No: 5 ( Marks: 1 ) .measures the ability of the venture to manage its total investment in assets.Please choose one ----------------------------------. .► Both of the mentioned options ► None of the mentioned options Question No: 3 ( Marks: 1 ) .

Please choose one The ---------------indicates whether the business plan is economically feasible.Please choose one If a new venture is a manufacturing operation. a -------------------is necessary. ► Financial plan ► Marketing Plan ► Organizational Plan ► Operations Plan Question No: 7 ( Marks: 1 ) .► Return on equity ► Return on investment ► Net profit margin ratio ► Acid test ratio Question No: 6 ( Marks: 1 ) . ► Marketing Plan ► Organizational Plan ► Production plan ► Financial Plan .

Please choose one Which of the following is not the characteristic of a marketing plan? ► Provide a strategy to accomplish the individual’s mission.is one of the many factors is to be considered: ► Costs ► Dollars ► Rupees ► None of the above Question No: 10 ( Marks: 1 ) . -------------------. ► Be based on facts and valid assumptions ► Provide for discontinuity ► Describe a manager to implement the plan Question No: 9 ( Marks: 1 ) .Question No: 8 ( Marks: 1 ) . ► Partnership ► Corporation ► Sole proprietorship . the death of the owner results in the termination of the business.Please choose one In pricing strategy.Please choose one In a --------------------------.

new capital can be raised by: ► Stock may be sold as either voting or nonvoting ► Bonds may be sold ► Money may also be borrowed in the name of the corporation ► All of the mentioned options Question No: 12 ( Marks: 1 ) . ► Short-term ► Long term ► Both of the options given ► None of the options given Question No: 13 ( Marks: 1 ) .Please choose one In the corporation.► Limited partnership Question No: 11 ( Marks: 1 ) .Please choose one Large positive cash flows may need to be invested in: ► Short term sources .Please choose one The financial plan provides the ------------basis for budgeting.

Please choose one The SBIR grant program has --------------.phases. some contribution can be made to cover: ► Variable costs ► Fixed costs ► Costs associated with assets ► None of the above Question No: 15 ( Marks: 1 ) . ► Four ► Two ► Three ► Ten .► Long term sources ► Both of the options are true ► None of the given options Question No: 14 ( Marks: 1 ) .Please choose one As long as the selling price is greater than the variable costs per unit.

Please choose one The method of developing a new idea through a thought process progression is known as: ► Matrix charting ► Big dream approach ► Heuristics ► Parameter analysis Question No: 3 ( Marks: 1 ) .Please choose one A copyright protects: ► Idea itself ► Original works of authorship .denote no relationship between the mark and the goods and afford the possibility of expansion.-----------------------. ► Coined marks ► Suggestive mark ► Superficial mark ► Trademark Question No: 2 ( Marks: 1 ) .

needed for the new venture.► Both of the options given ► None of the option given Question No: 4 ( Marks: 1 ) .Please choose one In almost all definitions of entrepreneurship. there is agreement that we are talking about a kind of behavior that includes: .Please choose one A ---------patent reflects the appearance of an object. ► Investment ► Finances ► Sales ► Expenses Question No: 6 ( Marks: 1 ) .Please choose one The financial plan determines the ------------------------. ► Utility ► Design ► Plant ► International Question No: 5 ( Marks: 1 ) .

► Initiative taking ► The organizing and reorganizing or social/economic mechanisms to turn resources and situations to practical account ► The acceptance of risk or failure ► All of the mentioned options Question No: 7 ( Marks: 1 ) .Please choose one The new venture should be described in detail. ► Venture ► Organizational culture ► Business plan ► None of the mentioned options Question No: 8 ( Marks: 1 ) .Please choose one A good --------------. including the: ► Product ► Location ► Personnel ► All of the option given .must be developed in order to exploit the opportunity defined.

Please choose one The study of behavior and morals in a business situation is called: ► Moral ethics ► Business ethics ► Personal ethics ► None of the given options Question No: 10 ( Marks: 1 ) .Question No: 9 ( Marks: 1 ) .Please choose one To suggest certain features or characteristics of a product or service.Please choose one Product or service does not involve: ► Packaging ► Brand name . we use: ► Descriptive mark ► Arbitrary mark ► Forward mark ► All of the given options Question No: 11 ( Marks: 1 ) .

Please choose one Fixed expenses (incurred regardless of sales volume) include: ► Rent .Please choose one A capital budget may project expenditures for: ► New equipment ► Vehicles ► New facilities ► All of the given options Question No: 14 ( Marks: 1 ) .Please choose one The environment of an entrepreneurial-oriented organization is the: ► Intrapreneurial culture ► Entrepreneurial culture ► Multinational culture ► National culture Question No: 13 ( Marks: 1 ) .► Price ► Maturity of the product Question No: 12 ( Marks: 1 ) .

Limited partner d.Please choose one Profit is the result of subtracting: ► Expenses from sales ► Sales from expenses ► Gross profit from share capital ► Assets from liabilities 10. Minor partner c. Major partner b. General partner . A party in an agreement that usually supplies money and has a few responsibilities is known as: a.► Utilities ► Both of the given options ► None of the given options Question No: 15 ( Marks: 1 ) .

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Conventional bank loans include: Lines of credit Installment loans Straight commercial loans All of the mentioned options 4.The most often used type of funds is Internally generated funds Externally generated funds Commercial bank funds None of the mentioned options 2. an alternative is a: . Which of the following is not type of Bank Loans? Inventory loans Accounts payable loans Equipment loans Real estate loans 3. When an entrepreneur is unable to secure a regular commercial bank loan.

NAFTA stands for: a) North American Free Trade Agreements b) North Asian Free Trade Agreements c) National Asian Free Trade Agreements d) National American Free Trade Agreements 2. a) Taxation b) Economies of scale c) Inflation d) Mergers 3.Small and medium enterprise loan Character loan Small Business Administration (SBA) Guaranty Loan Equipment loan 5. Installment loans can be obtained by a going venture with a track record of: Sales and profits Customers Supplier’s chain All of the mentioned options 1. a) Diversified Activity Merger b) Product Extension Merger c) Vertical Merger d) Market Extension Merger 4. The factor______________ is probably the most prevalent reason for mergers. a) Resources b) Cost c) Cost and risk of a project . A _____________ merger is a combination of two firms producing the same products but selling them in different geographic markets. One of the most frequent reasons an entrepreneur forms a joint venture is to share the ________________.

a) Direct Exporting b) Indirect Exporting c) Management Contracts d) Turn-Key Projects 6. a) Simplicity Sue b) Shotgun Sam c) Hidden Agenda Harry d) Inventor Irving 8. follows through on the opportunity to create a successful new venture. _______________ involves having a foreign purchaser in the local market or using an export management firm. 9. Traditional managers are: a) Deals with mistakes and failures b) Tries to avoid mistakes and surprises c) Attempts to hide risky projects from view until ready .d) Profit 5. if ever. d) Youngest child in a white-collar family and married. ________________ is an entrepreneurial type who quickly identifies new promising business opportunities but rarely. The ______________measures the payments that flow between any individual country and all other countries. One study found that the typical minority business owner was the a) Oldest child in a blue-collar family and married. b) Oldest child in a white-collar family and married. c) Youngest child in a blue-collar family and married. a) International Business b) Economies of Scales c) Balance of Payment d) None of the given options 7.

d) None of the given Options 10. a) Strategic Orientation b) Capitalization c) Intrapreneurship d) Management 13. _________________ is one method of stimulating. The typical _________________ has a climate and reward system that favor conservative decision making. Risk decisions are often postponed until a) Hard facts can be gathered or a consultant hired to illuminate the unknown. b) Hard facts can be gathered or an auditor hired to illuminate the unknown. and then capitalizing on. individuals in an organization who think that something can be done differently and better. a) Entrepreneurship culture b) Corporate culture c) Intrapreneurial culture d) None of the given options 14. Entrepreneurs are: a) Moderate risk taker b) High risk taker c) Avoidance d) Both b and c 11. Female entrepreneurs normally start their venture at the age of _____________ years. a) 35-45 b) 25-30 c) 20-25 d) 40-45 . c) There is no need to gather facts and hired a consultant/auditor d) None of the given options 12.

a) Product-evolution process b) Technological innovations c) Breakthrough innovations d) None of the given options 17. a) Foundation b) Life-Style Firm c) High-Potential Venture d) Both b and c 18. ________________ is a reason or set of reasons for engaging in a particular behavior.15. . oral presentations. The ___________________ means to do things in his or her own way and time. a) Need per independence b) Need for achievement c) Personal values d) Ethics 20. A____________________ is a type of company formed from research and development that usually does not go public. 16. a) 20-25 b) 25-35 c) 40-50 d) After the age of retirement. which in turn stimulates economic growth. _________________ involve such things as writing. coaching and technical know-how. especially human behavior. The ________________ is the process through which innovation develops and commercializes through entrepreneurial activity. a) Business Management skills b) Personal entrepreneurial skills c) Technical skills d) None of the given options 19. Male entrepreneurs normally start their venture at the age of____________ years. listening.

a) Moral value b) Act c) Motivation d) None of the options .

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All of the mentioned options 4. A ________ is a group of people who would be interested in buying a given product or service. Entrepreneurship can be very challenging. Does not need to be longer than three sentences c. Market 4. 6. Expertise c. Is a business' reason for existing b. People are willing to buy the product/service at high price c. Target c. Loneliness 3. He/she is not making good use of scarce resources b. Marketing vision c. None of the mentioned options The mission statement a. If a business is not making a profit. Operations d. Long hours b. Financial insecurity d. the entrepreneur knows that a. Which of the following is not something that can be invested? a. Financing b. Which business function do experts agree you should focus on first when preparing to start a business? a. Money 5. Energy b. Consumer b. Tells your customers and employees what your business is about d. Customer d. a.2. No one wants to buy the product/service d. All of the above. Which is not a typical challenge of being an entrepreneur? a. . Financial reward c.

2. Marketing c. Managers are better at coming up with fresh ideas for new businesses than entrepreneurs are. Marketing research involves the gathering of data in order to determine information as a. What price should be charged? c. How do we get there? d. Tactics d.The marketing plan should answer the basic question a. b. Goals set by the entrepreneurs may be unreasonable. Taking management classes to become a better manager. b. Unique selling proposition b. 9. Goals may not be measurable. Entrepreneurs are lazy. When a business grows too big for the entrepreneur to run it alone. None of the above Why are entrepreneurs not always the best managers for their businesses? a. c. d. Time Which of the following should be included in a business's mission statement? a. Keep accurate records and use financial controls. What is the most effective promotion strategy? . c. he or she should consider a. c. Goals may not be specific 8. d. Never take company profits just to pay yourself. 10. Where have we been? b. Where do we want to go (short term)? c. Create an advisory board. c. Who will buy the product? b. Environmental factors and internal factors can change the direction of the plan b. Prices Make sure your business is run in an ethical manner by a. d. b. Raising capital and using it to hire managers. We need to update the business plan because a. Slowing down marketing efforts to bring the business's growth back under control.d. Entrepreneurs tend to be creative types who get bored with the day-to-day details of running a business. All of the mentioned options 3. 7. All of the above. d. All of the above 1.

All of the mentioned options 4. Accounts payable loans c. the entrepreneur may need a a. Inventory loans . Provide a strategy to accomplish the individual’s mission. Long-term loans c. Provide for discontinuity d. Just financial information d. Installment loans can be obtained by a going venture with a track record of a. Supplier’s chain d. Customers c. Any backup material not included in the text of the document b. Which of the following is the characteristic of a marketing plan? a. Shareholders do not retain limited liability protection c. b. This form may use the capital method of accounting d. Equipment loans d. Be based on facts and valid assumptions c. Stock may be transferred to low-income-bracket family members 7. Inventory loans b. Describe a manager to implement the plan 5. Conventional bank loans include a. Lines of credit b. Which of the following is not a types of Bank Loans a. All of the mentioned options 10. Strategies to implement 6. Character loans d. A summary of business plan c.d. Capital gains or losses are treated as corporation’s income b. Real estate loans 8. Sales and profits b. The appendix contains a. When the business does not have assets to support a loan. All of the mentioned options 9. Which of the following is the advantage of S CORPORATION? a.

b. Accounts payable loans c. Character loan d. Equipment loans 11.

NOTE: KINDLY USE YOUR OWN SENSE AND TRY TO JUST MATCH. THANKS FOR VISITING VUABID.

1D 2D 3A 4C 5D 6B 7B 8B 9D 10 C 11 B 12 B 13 D 14 C 15 C

16 A 17 B 18 A 19 D 20 D
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Labels: Assignments, Entrepreneurship, MGT602, Spring 2009

Entrepreneurship Assignment 1
Thursday, March 26, 2009

Q #1: The entrepreneur was distinguished from capital provider in: A. Middle ages B. 18th century C. 17th century D. 19th and 20th century Q #2: ___________ Process of creating incremental wealth is called Entrepreneurship. A. Dynamic B. Static C. Continues D. Systematic Q #3: Most important factor in forming a new business is: A. Finance B. Marketing C. Govt Support D. Family Support Q #4: Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete? A. Creative destruction B. New business model C. Anatomization

D. None of the given options Q #5: The intersection of knowledge and a recognized social need to start a product development process is called: A. Iterative synthesis B. Product-evolution process C. Ordinary innovation D. Situation analysis Q #6: Which one of the following is the primary cause of failure in small businesses? A. Poor financial control B. Poor location C. Management mistakes D. Improper inventory control Q #7: Which one of the following is the first step in the entrepreneurial process? A. Developing successful business ideas B. Deciding to become an entrepreneur C. Growing the entrepreneurial firm D. Moving from an idea to an entrepreneurial firm Q #8: Which of the following is NOT included in the opportunity evaluation process? A. Length of the opportunity B. Real and perceived value of opportunity C. Goals and objectives of customers D. Risks and rewards of opportunity Q #9: The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing: A. Entrepreneurship B. Intrapreneurship C. Managerial domain D. Administrative domain

Lack of intrapreneurial talent B. Competition B. Act of stating a new venture D. Trial and error are discouraged B. Lack of freedom to make autonomous decisions C. Customers Q #14: Which of the following is alternatively called corporate venturing? A. Strategic orientation Q #11: Which of the following statements about the entrepreneurial climate is (are) true? A. Resources of the firm need to be available and easily accessible C.Q #10: The entrepreneur’s_______________ depends on his perception of the opportunity. Economic development C. Commitment of resources C. Commitment to opportunity B. All of the given options Q #13: Which of the following factors has allowed small companies to act like they are big ones? A. A. A multidisciplinary approach is discouraged D. Offering new products by an existing company Q #15: Being one’s own boss is a need of: . Technology D. Entrepreneurship B. Intrapreneurship C. Control of resources D. Lack of market opportunity D. Failures are not allowed Q #12: Which of the following makes the formation of new venture difficult within a corporate culture? A.

None of the above Q #20: Which one of the following is NOT TRUE about male entrepreneurs? A. Independence B. Need for independence B.A. or technical . Authority Q #16: An individual’s need to be recognized is called: A. Gender Q #18: Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT: A. Motivation B. bank loans. Personal Values D. or personal loans in addition to personal funds B. Manufacturing D. Business skills C. Need for achievement Q #17: Which one of the following factors does not affect a person for being an entrepreneur? A. Males often have investors. Achievement C. Family background B. Males often have more experience in manufacturing. Administration B. Need of fame D. Affiliation D. finance. Need for affiliation C. Utilities C. Goal orientation Q #19: Which of the following areas are preferred by women entrepreneurs? A. Departure point D. Education C.

Men usually list outside advisors as the least important supporters .areas C. Men are often more confident and less flexible and tolerant D.

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