Ge 11 – Entrep Pre-Test

1. An entrepreneur contributes to economic growth through proper management of the ff. factors
except.
Human Resources
Natural Resources
Technology
Emotional resources

2. Which of the ff. is not an example of human resources aspects that an entrepreneur must
manage?
Labor Supply
Motivation
Discipline
Management

3. The ff. are entrepreneurs specific functions in its attempt to make profit except.
Deciding the volume of demand in the light of market output.

4. The capability to innovate products and services is to trademark of an entrepreneur. Innovation

can’t be any of the ff. except.
Substitution of a cheaper material in an altered product

5. The four phrases/stages of a business venture include the prestart-up, start-up, early growth
stages. Which of the ff. is an activity undertaken during the early growth stage?
Selling to limited markets with limited resources

6. A small business may be defined using the

Total assets and market share approaches

7. Which of the ff. type of small businesses refers to the activities of person or establishments
which sell to retailers and other merchants, and/or to industrial, institution, and commercial
users, but do not sell in large amounts to final consumers?
Wholesaling
8. The ff. are the importance of small businesses to an economy, except.
Small business are distributor of products and services produced by micro-businesses

9. Unanticipated means of searching business ideas include the following, except.

The use of search questionnaires

10. Generated business ideas are screened with the use of following criteria except.
Supply chain feasibility

11. Where the small business operator cannot produce sufficient capital to operate the business,
the business idea should be screened out for failing the criteria of.
Financing feasibility

12. Mission statements refers to the basic description of the fundamental nature, rationale, and
direction of the firm. It consists of three concerns, which is the exception?
How the entrepreneur expects and intends to use recover his capital investment

13. Which of the following refers to the process of determining the primary objectives of the
entrepreneurship and then adopting courses of action allocating resources to achieve those
objective?
Strategic Planning

14. Where the business idea’s profitability and liquidity is under consideration, the business idea is
screened under the criteria of.
Financial Feasibility

15. Which of the following is not a characteristics of a small business?

Multinational scope of operations

16. In developing realistic strategies, the entrepreneur employs the SWOT analysis which assess the
firm’s strengths, and weaknesses, opportunities and threats. Which of the following is an
example of a firm’s strength?
The firm’s exclusive supply

17. When stable and sufficient demand is under consideration, the business idea is screened under
the criteria of.
Market Feasibility

18. The following are example of a small service business, except.

General construction firms

19. Which of the following refers to communicating information between the company and
potential buyers to influence buying attitudes and behavior?
Promotion
20. Which of the following part of a business plan summarizes the plan and states the objectives of
the business?
Executive Summary

21. Which of the following refers to a challenge posed by an unfavorable trend or development in
the external environment that would lead to the erosion of the enterprise’s position.
Threat

22. Which of the following refers to a legal association of two or more persons as co-owners of an
un-incorporated business?
A partnership

23. Market strategies consists of the following except.

Demand Strategy

24. Which of the following refers to the activity of selecting well-defined groups of potential
customers and tailoring a marketing mix to their needs and preferences?
Target Marketing

25. This shows the revenue and other income, expenses, and net income for the small business
covering a period of time, usually one year.
Income Statement

26. Which of the following refers to how the firm differentiates its product or service from those of
the competitors and serving a niche?
Positioning Strategy

27. Financial plan would include the following financial statements, except.
The retained earnings statement

28. This involves an analysis of possible future events and how these events might affect the firm.
Financial Planning

29. Which of the following are useful tools used by owners to determine the financial health of the
firm?
Ratio analysis

30. The following types of advertisement media except.

Aleng Mosang
31. Which of the following is a document that helps the small business owner in determining what
resources are needed to achieve the objectives of the firm and provide a standard against which
to evaluate results?
Business Plan

32. Which of the following is legally chartered enterprise with most of the legal rights of a person,
including the right to conduct a business, to own and sell property, to borrow money, and to sue
and to be sued?
A corporation

33. Which of the followings refers to a carefully designed plan for achieving firms objectives?
Strategy

34. This gives financial profile of a business at any given point, showing its assets liabilities and net
worth.
Balance sheet

35. Which of the following is a form of business organization which is owned and operated by a
single person?
A sole proprietorship