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2.1 Entrepreneurship (Section - D)

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Question 1
A Marketing plan has various components. Which one of the following is not a part of the Marketing Plan?

Response: Employees Profile

Question 2
There are several characteristics of a Financial Plan. Which is NOT one of the characteristics of a sound
financial plan?

Response: As complex as possible

Question 3
As part of the Technological Factors, the entrepreneur needs to consider IPR. What is meant by IPR?

Response: Intellectual Property Rights

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Question 4
An entrepreneur can understand the competition in several ways. Which is not one of the ways to understand
competition?

Response: Shopping extensively

Question 5
Entrepreneurship is an age old phenomenon that shows the relationship between two factors. One is the
implementation by the entrepreneur. Name the other one.

Response: Ethics

Question 6
An entrepreneur has to follow several steps. Which is the first step an Entrepreneur has to take for starting an
enterprise?

Response: Identify the Problem

Question 7
Entrepreneurship process has a direct bearing on various activities. Which is the main source of the activity of
entrepreneurship?

Response: Economic activity

Question 8
In which type of financing,the companies are eligible for tax benefit?

Response: Debt Funds

Question 9
Entrepreneurs can get initial support from different incubator sources. Which one of the following is NOT a
type of Incubator?

Response: FDI sponsored

Question 10
Marketing Research is carried out by different agencies and it also serves to get idea of the market size. Which
one of the following statement is not true about Marketing Research?

Response: Carried out after preparing the Marketing Plan

Question 11
Entrepreneurs need to deploy various methods for idea generation. Which one of these is a method where the
team members are not aware of the problem in advance?

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Response: Checklist Method

Question 12
A business plan is known by several names in different places. Which one of the following is not a name for
Business Plan?

Response: Balance Sheet

Question 13
One of the very important document that helps the entrepreneur to know about his business performance is a
balance sheet. What does a Balance Sheet depict?

Response: Assets and Liabilities

Question 14
Entrepreneurs also have to be good leaders. Which one of the following type of leadership is not required to be
an entrepreneur?

Response: Political Leadership

Question 15
What would you call the process of dividing the total target market into homogeneous group of customers?

Response: Market Segmentation

Question 16
In early days, the price for most items were decided by the manufacturers or service providers. The price for
most items today is determined by which of the following?

Response: Market Forces

Question 17
Quantity of ideas are more important than the quality of ideas and one idea leads to another. What is this idea
generation method called?

Response: Brainstorming

Question 18
These days SWOT analysis has got replaced by changing one of the four parts of SWOT. Identify the correct
pair i.e the old term and the new term.

Response: Threats , Challenges

Question 19

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What is the term used to describe the ability of a system to produce the required output in a particular period,
usually one year?

Response: Productivity

Question 20
There are organizations who provide all kinds of support and initial hand holding to the entrepreneurs. What are
these organizations called?

Response: Incubation Centers

Question 21
An entrepreneur prepares a business plan and it serves different purposes. Which is NOT one of the purpose of
preparing a Business Plan?

Response: Decide when and whether to go Public

Question 22
Any business plan prepared by an entrepreneur has several uses. Which one of the following is not True about
the usage of a Business Plan?

Response: Used for setting performance targets

Question 23
There are three extended Ps of Services Marketing. Which is NOT one of the three extended Ps of Services
Marketing?

Response: Physical Space

Question 24
There are broadly two sources of financing, i.e., Equity Financing and Debt financing. Which one of the
following is NOT one of the features of Equity Financing?

Response: Unlimited liability

Question 25
Entrepreneurs need to deploy various methods for idea generation. Which one of these is not an idea generation
method ?

Response: Reverse Logistics

Question 26
Breakeven Analysis is one the tools for an entrepreneur to make decisions. How do you define Breakeven
Analysis?

Response: Point at which TC= TR

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Question 27
In which type of Production system, the plants are mostly automated and they operate continuously without a
break?

Response: Continuous flow production

Question 28
Break Even Point is calculated in two ways- The graphical method and calculation method. The break even
point is calculated in which of the following terms?

Response: Rupees or dollars

Question 29
Entrepreneurs always think of long term survival. What they need to do for the same?

Response: Adopt code of Ethics

Question 30
In which type of Production system, the machines are arranged in the sequence of operations?

Response: Line production

Question 31
There are various ways in which an entrepreneur can recognize opportunities. Which one of these is not a
method for identifying opportunity?

Response: Emotional Stability of his Partner

Question 32
In which type of financing the entrepreneur has the freedom to run the company without interference from the
lender?

Response: Equity Funds

Question 33
Entrepreneurs need to consider Socio-Cultural factors at the time of external environment analysis. Which one
of these is not a Socio-Cultural factor?

Response: Stock Market Performance

Question 34
Any investor looks at several criteria before taking a decision. Which of the following is not looked at by the
Investors?

Response: Number of members in entrepreneur's family

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Question 35
Maruti produced Five Lakh Cars in 2020. The total number of cars produced by all manufacturers in 2020 was
20 Lakhs. Maruti enjoyed 25% in one of the aspects given. Choose the correct option:

Response: Market Share

Question 36
All big manufacturing organizations need to install a plant to ensure they don't discharge waste liquids outside
in the open area. What is this plant called?

Response: ETP

Question 37
The tool for external environment analysis adopted by an entrepreneur has undergone changes. Which one of
these does not relate to the other three?

Response: TOMA

Question 38
Executive Summary is an important component of a business plan. Which one of the following statement is
NOT true about Executive Summary?

Response: Not required for Business Plan for Services organization

Question 39
There are different types of statements and reports prepared by the financial accountants. From which statement
the knowledge of the cash position can be obtained?

Response: Cash Flow Statement

Question 40
In most organizations the time spent by managers in decision making varies depending on the type of
environment. Managers spend 60% of their time in strategic decisions in which type of environment?

Response: Environment With Outsourcing

Question 41
When an entrepreneur calculates the breakeven point,it may range from a few days to few years. Which of the
following is good for the entrepreneur with respect to the breakeven period?

Response: Shorter

Question 42
In what stage does an entrepreneur adopt Bootstrapping to raise funds?

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Response: In the initial stages

Question 43
Industry analysis is done with the help of a tool called Porter's Five Forces Analysis. What does Substitute
products mean according to Porter?

Response: Cheaper products

Question 44
There are several perspectives being addressed by an entrepreneur while preparing a business plan. Which one
of the following is not one of the three perspectives while writing a Business Plan?

Response: Government perspective

Question 45
Entrepreneurs go for different types of investments in different stages of their enterprise. In which stage
entrepreneurs usually go in for an IPO?

Response: In the growth stage

Question 46
Over and above the internal and external environment factors, which is the other factor that affects any
entrepreneurial venture?

Response: Competitive environment

Question 47
An Entrepreneur needs to analyze various environments before deciding on his enterprise. Which one of these
environment need not be considered by the entrepreneur?

Response: External Environment

Question 48
One of the early decisions of an entrepreneur is planning the layout of his plant. Which one of the following is
not one of the principles of plant layout?

Response: Principle of high profits

Question 49
An Entrepreneur needs to develop USP for being successful in the venture. Which one of these is not a
guideline for writing the USP?

Response: Analyze the data compiled

Question 50
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An entrepreneur has to frame carefully the inventory management policies and procedures. Which functional
plan will address the Inventory Management policies?

Response: Operations Plan

Question 51
A business plan is the base document before starting an enterprise. Whose basic responsibility is Business Plan
preparation?

Response: Entrepreneur

Question 52
The two major costs in any organization are the fixed costs and the variable costs. Direct Materials and Direct
Labor are part of which of the following costs?

Response: Variable Costs

Question 53
Entrepreneurs adopt several methods for generating new ideas. Which one of these is a method adopted when
the team members are dispersed geographically?

Response: Electronic Brainstorming

Question 54
An entrepreneur has to make both strategic and tactical decisions. How is the decision making done by the
entrepreneur?

Response: Evaluating various options

Question 55
Any entrepreneur has the main objective of creating, communicating and delivering customer value. Which two
factors Customer Value is defined as the ratio of?

Response: Effectiveness to Efficiency

Question 56
Before an entrepreneur takes decision whether to produce inside the plant or buy from a supplier, the cost
consideration is of paramount importance. Which is the cost to be considered in Make or Buy decisions?

Response: Processing cost

Question 57
The global environment is quite complex. Which is not one of the factors that contribute to complexity in the
global environment?

Response: Regional trade blocks pose certain restrictions

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Question 58
Although the Breakeven Point is calculated in Units, it is not of any meaning to the investor. The Break Even
Point expressed to the investors in which of the following terms?

Response: Rupees or dollars

Question 59
There are several steps involved in conducting a Market Research. Which is the first step in conducting a
Market Research?

Response: Define the objectives

Question 60
Marketing Research serves lot of purposes and provides information on many aspects. Which information a
Market Research does not provide?

Response: Exact number of customers

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