Eed Final Exam (Non Exam Center) - Attempt Review

11/10/22, 9:21 PM FINAL EXAM (NON EXAM CENTER): Attempt review
Library
Started on Saturday, 29 October 2022, 1:18 PM

State Finished
Completed on Saturday, 29 October 2022, 2:18 PM
Time taken 1 hour
Grade 40.00 out of 50.00 (80%)
Question 1
Correct
Mark 2.00 out of 2.00
Which of the following is not a reason for business failure
Select one:
A. Availability of technology 
B. Lack of market research
C. Poor management
D. Poor financial control
Your answer is correct.
The correct answer is:

Availability of technology
Accessibility
Menu
https://lms.yic.edu.et/mod/quiz/review.php?attempt=20283&cmid=5678 1/18
Question 2
Correct
Opportunity seeking consist of following key processes except:
Select one:
A. Investment

B. Opportunity recognition
C. Idea generation
D. Creativity

Investment
Question 3
Correct
Which of the following is the most critical component of a business plan:
a. 
Executive summary
b. Company description
c. Market analysis
Accessibility
d. Menu
Financial plan


Executive summary
Question 4
Correct
Apple’s company motto” Think differently” refers
a.
Just a motto
b. 
Uniqueness
c. Branding oneself
d. Being the best

Uniqueness
Accessibility
Menu
Question 5
Correct
___________Can be delivered by government and business development organization to raise the level of public awareness
Select one:
A. Financing
B. Enlightment program 
C. Appropriate policies and leadership
D. Conductive culture

Enlightment program
Question 6
Correct
Which of the following is first step of the entrepreneurial process.
Select one:
A. Concept development
B. Harvesting
C. Discovery

D. Resourcing

Discovery
Accessibility
Menu
Question 7
Correct
Which of the following forms of business has no unlimited liability
Select one:
A. Sole proprietorship form of business
B. Corporation

C. Partnership

Corporation
Question 8
Correct
Which of the following is not an action of IDIC model?
Select one:
A. Interact
B. Identify
C. Differentiate
D. Optimize


Optimize
Accessibility
Menu
Question 9
Correct
Customized products and services for customers and interaction to individual customers are part of ________
Select one:
A. Company relationship management
B. Retailers’ management
C. Supplier management
D. Customer relationship management 

Customer relationship management
Question 10
Correct
One of the following activities is not a supporting condition of the CRM value chain model.
Select one:
A. Leadership and culture
B. People
C. Customer intimacy 
D. Data and IT
E. Process
The correct answer is: Accessibility
Menu
Customer intimacy
Question 11
Correct
In the part of business plan __________summarizes the whole plan in nutshell is
Select one:
A. Company description
B. General business overview
C. Executive summary 
D. Company structure

Executive summary
Accessibility
Menu
Question 12
Incorrect
Which section of the business plan focuses on the specific segment or target market of an industry to which the firm will
try to appeal?
a. Market analysis
b. Current status
c. 
Operations plan

d.
Company summary

Your answer is incorrect.

Market analysis
Accessibility
Menu
Question 13
Incorrect
Entrepreneurship can be defined as…
Select one:
A. The act of initiating, creating, building, expanding and sustaining a venture and gathering the necessary 
resources to exploit an opportunity in the market place for long term wealth and capital gain.
B. The act of initiating, creating, building, expanding and sustaining a venture building an entrepreneurial team and
gathering the necessary resources to exploit an opportunity in the market place for long term wealth and capital
gain.
C. The act of creating, building, expanding and sustaining a venture building an entrepreneurial team and gathering
the necessary resources to exploit an opportunity in the market place for long term wealth and capital gain.

The act of initiating, creating, building, expanding and sustaining a venture building an entrepreneurial team and
gathering the necessary resources to exploit an opportunity in the market place for long term wealth and capital gain.
Question 14
Correct
One of the following is not a part of CRM life cycle:
Select one:
A. Production

B. Sales
C. Orders
D. Marketing
Your answer is correct. Accessibility
Menu
Production
Question 15
Correct
Which of the following is not an external source of financing?
Select one:
A. Venture capital
B. Business angels
C. Retained profits 
D. Bank loan

Retained profits
Question 16
Incorrect
“We are what we do repeatedly. Excellence, therefore, is a habit not an incident.” Aristotle. This quote comprehends one
of the PECs;
a.
Systematic planning and monitoring

b. Risk taking 
c. Information seeking
d.
Persistence and commitment


Persistence and commitment
Question 17
Correct
Takes action before being asked or forced by events. This behaviour references

a.
Goal setting

b.
Systematic planning and monitoring

c. Risk taking
d. Opportunity taking and initiatives 

Opportunity taking and initiatives
Question 18
Incorrect
Which of the following is not related to a marketing strategy?
A. Marketing and Sales Strategy 
B. Marketing research
C. The competition
D. Projections of income and expenses

Projections of income and expenses
Question 19
Correct
Why is it important for entrepreneurs to talk with industry experts when developing new business concepts?

a.
The industry experts frequently offer financial support
b. 
The industry experts typically provide useful information
c. The industry experts usually improve your management skills
d. The industry experts commonly enhance your confidence

The industry experts typically provide useful information
Question 20
Correct
Which of the following is not a personal entrepreneurial competency?
Select one:
A. Taking calculated risk
B. Outcome results 
C. Goal setting
D. Commitment

Outcome results
Question 21
Correct
_________statement describes your company philosophy in a very few sentences.
Select one:
A. Mission

B. Vision

Mission
Question 22
Incorrect
Which of the following is the activity which finance people are involved?
Select one:
A. Investing decisions
B. Marketing decisions 
C. Promotion decision

Investing decisions
Question 23
Correct
Code of ethics, mission statement and executive summary are included in the steps of following entrepreneurial process
Select one:
A. Discovery
B. Resourcing
C. Concept development

D. Actualization

Concept development
Question 24
Correct
An entrepreneurship inside of the corporation,
a. Intrapreneur

b. Angel
c. Entrepreneur
d. Venture capitalist

Intrapreneur
Question 25
Correct
The money that is used to run a business on a daily basis is called its
a.
Accounts payable

b. 
Working capital

c. Accounts receivable
d. Net profit
Working capital

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11/10/22, 9:21 PM FINAL EXAM (NON EXAM CENTER): Attempt review

Started on Saturday, 29 October 2022, 1:18 PM

Mark 2.00 out of 2.00

Which of the following is not a reason for business failure

B. Lack of market research

D. Poor financial control

Your answer is correct.

The correct answer is:

Mark 2.00 out of 2.00

Opportunity seeking consist of following key processes except:

Your answer is correct.

Mark 2.00 out of 2.00

Which of the following is the most critical component of a business plan:

Your answer is correct.

Mark 2.00 out of 2.00

Apple’s company motto” Think differently” refers

d. Being the best

Your answer is correct.

Mark 2.00 out of 2.00

C. Appropriate policies and leadership

Your answer is correct.

Mark 2.00 out of 2.00

Which of the following is first step of the entrepreneurial process.

Your answer is correct.

Mark 2.00 out of 2.00

Which of the following forms of business has no unlimited liability

Your answer is correct.

The correct answer is:

Mark 2.00 out of 2.00

Which of the following is not an action of IDIC model?

Your answer is correct.

Mark 2.00 out of 2.00

D. Customer relationship management 

Your answer is correct.

The correct answer is:

Mark 2.00 out of 2.00

Your answer is correct.

The correct answer is: Accessibility

Mark 2.00 out of 2.00

B. General business overview

Your answer is correct.

Mark 0.00 out of 2.00

Your answer is incorrect.

Mark 0.00 out of 2.00

Entrepreneurship can be defined as…

Your answer is incorrect.

Mark 2.00 out of 2.00

One of the following is not a part of CRM life cycle:

Your answer is correct. Accessibility

Mark 2.00 out of 2.00

Which of the following is not an external source of financing?

Your answer is correct.

Mark 0.00 out of 2.00

Your answer is incorrect.

Mark 2.00 out of 2.00

d. Opportunity taking and initiatives 

Your answer is correct.

Opportunity taking and initiatives

Mark 0.00 out of 2.00

Which of the following is not related to a marketing strategy?

A. Marketing and Sales Strategy 

D. Projections of income and expenses