Entrepreneurship Development MCQs Quiz Multiple Choice Questions & Answers

1. A business arrangement where one party allows another party to use a business name and sell its products or services is known as

1. A limited company.
2. A cooperative.
3. A franchise.
4. An owner-manager business.

2. A business arrangement where one party allows another party to use a business Name and sell its products or services is known as.

1. A limited company.
2. A cooperative.
3. A franchise.
4. An owner-manager business.

3. A commercial banker would prefer a debt-equity ratio over the years as it indicates financial strength of a unit.

1. Fluctuating.
2. Declining.
3. Increasing.
4. Stable.

4. A Company is called an artificial person because

1. it exists only in contemplation of law.Answer:C
2. it does not have the shape of a natural person.
3. it cannot be used in the court of law.
4. it is invisible and intangible.

5. A key aspect of the financial section of the business plan is

1. A description of competitors.
2. A statement of management skills.
3. A realistic sales forecast.
4. Production capacity.

6. A new venture's business plan is important because

1. All the above.
2. It helps to persuade others to commit funding to the venture.
3. Can help demonstrate the viability of the venture.
4. Provides a guide for business activities by defining objectives.

7. A person owning and running a small firm, is known as.

1. An enterprise worker.
2. A manager-owner.
3. An owner-manager.
4. A professional adapter.

8. A project, which may not add to the existing profits, should be financed by

1. public deposits.
2. debentures.
3. preference share capital.
4. equity capital.

9. A provisional SSI registration certificate is valid for a period of

1. one year.
2. four Years.
3. three Years.
4. two Years.

10. A public corporation means

1. department of union government
2. public company.
3. government company.
4. statutory corporation.

11. A valid definition of a business purpose is to

1. increase the wealth of the firm.
2. create a customer.
3. maximize profits.
4. serve the society.

12. According to MSMEDC (Micro, Small & Medium Enterprises Development) Act 2006, Micro, Small & Medium Enterprise are classified into two classes such as

1. None of these
2. Manufacturing & Service Enterprise
3. Automobile & Electronic Enterprise
4. Research & Development Sector

13. Activities which can be accomplished simultaneously are termed as

1. Dummy Activities.
2. Preceeding Activities.
3. Succeeding Activities.
4. Concurrent Activities

14. Activities which must be finished before a given event can occur are termed as

1. Dummy Activities.
2. Preceeding Activities.
3. Succeeding Activities
4. Concurrent Activities

15. Additional time which a non-critical activity can consume without increasing the project duration is called

1. Dependant Float
2. Total Float.
3. Free Float
4. Independent Float.

16. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?

1. Government bureau.
2. Supplier.
3. Retailer.
4. Competition.

17. An entrepreneur who owns more than one business at a time is called

1. None of the above.
2. an intrapreneur.
3. a corporate entrepreneur.
4. a portfolio entrepreneur.

18. An individual who starts, creates and manages a new business can be called

1. An entrepreneur
2. A leader
3. A manager
4. A professional

19. An individual who starts, creates and manages a new business can be called as

1. An entrepreneur
2. A leader
3. A manager
4. A Professional

20. As a new company grows, the entrepreneur will need to

1. all the above.
2. be responsive to changes in the market.
3. ensure financial controls are maintained.
4. build a management team.

21. Business means

1. selling and buying of goods.
2. Commerce.
3. industry and commerce.
4. trade and commerce.

22. Business risks can be

1. erased.
2. avoided.
3. reduced.
4. ignored.

23. can be defined as a specifically evolved work plan densed to achieve a specific objective within a specific period of time

1. Strategy.
2. Idea generation.
3. Opportunity Scanning.
4. Project.

24. CPM stands for.

1. Critical Probabilistic Method.
2. Continuous Path Method.
3. Clear Path Method.
4. Critical Path Method.

25. Decisions taken by an entrepreneur on behalf of his enterprise are known as

1. Strategic decisions
2. Organizational decisions.
3. Personal decisions.
4. Routine decisions.

26. Decisions which are concerned with policy matters and exercise fundamental influence on the objectives of the organization are called as.

1. Strategic decisions.
2. Organizational decisions.
3. Personal decisions.
4. Routine decisions.

27. Decisions which are concerned with policy matters and exercise fundamental influence on the objectives of the organization are called as.

1. Strategic decisions.
2. Organizational decisions.
3. Personal decisions.
4. Routine decisions.

28. Decisions which are non-repetitive and novel nature and required to solve unstructuredproblem is called as

1. Strategic decisions.
2. Programmed decisions.
3. Non -programmed decisions.
4. Routine decisions.

29. describes the direction, the enterprise is going in, what its goals are, where it wants to be,and how it is going to get there.

1. financial analysis
2. project report
3. technical anlaysis
4. market analysis

30. DGTD stands for

1. Directorate General of Taxation Deduction.
2. Directorate General of Technical Development.
3. District General of Technical Development.
4. District General of Taxation Deduction.

31. DIC is headed by General Manager in the rank of

1. Departmental officer.
2. Joint Director of industries.
3. Assistant Director of industries.
4. Non-departmental officer.

32. District Industries Centres are located

1. only in selected states.
2. in each district.
3. in each state.
4. only in selected districts.

33. EDPs course contents contains

1. All the above.
2. General introduction to entrepreneurs.
3. Motivation training.
4. Managerial skills.

34. Entrepreneurial development is the key to achieve all-round through

1. business development
2. economic development
3. increase in profits
4. shareholders value

35. Entrepreneurial Guidance Bureau (EGB) was set up by

1. SIDCO
2. SISI
3. SIPCOT
4. IIC

36. Entrepreneurial Guidance Bureau(EGB) was set up by.

1. SIDCO.
2. SISI.
3. SIPCOT.
4. IIC.

37. Entrepreneurs are motivated by

1. All the above.
2. money.
3. personal values.
4. pull influences.

38. Entrepreneurship can best be described as

1. a process involving innovation, new products or services, and value creation.
2. a process that requires setting up a business.
3. taking a significant risk in a business context.
4. having a strong vision.

39. Entrepreneurship is useful to the organization because of

1. All of these
2. Development of managerial capabilities
3. Creation of organization
4. Improving standard of living & economic development

40. EST stands for

1. Essential Start Time.
2. Earliest Start Time.
3. Event Start Time.
4. Effective Start Time.

41. Every entrepreneur should draw an for his project to ensure the timely completion of all activities involved in setting up an enterprise.

1. production structure
2. cost structure
3. implementation plan
4. market structure

42. EXIM bank is a

1. International institution.
2. State-level institution.
3. Regional -level institution.
4. All India institution.

43. Good sources of information for an entrepreneur about competitors can be obtained from

1. All the above.
2. Websites.
3. Product information leaflets.
4. Company reports and published accounts.

44. Goods or services reach the market place through

1. multiplication.
2. marketing channels.
3. multilevel pyramids.
4. monopolies.

45. he granting of cash subsidy on the capital investment is called

1. Central Investment Subsidy.
2. Concessional finance.
3. Quantum of Subsidy.
4. Interest Subsidy.

46. Idea of new product is tested in potential consumers to determine consumer acceptance at stage.

1. Commercialization.
2. Concept.
3. Product development.
4. Test marketing.

47. IFCI has been converted into a

1. sole proprietorship.
2. joint stock company.
3. co-operative society.
4. partnership firm.

48. IFCI stands for.

1. Indian finance corporation and institution.
2. Industrial finance corporation of India.
3. Institutional finance corporation of India.
4. Industrial funding corporation of India.

49. implies the availability or otherwise of plant and machinery and technical know how to produce the product.

1. Managerial competence
2. Economic viability.
3. Financial feasibility.
4. Technical feasibility.

50. Importance of Entrepreneurship includes

1. All of these
2. Economic & dynamic activity
3. Innovation & Profit potential
4. Risk bearing