ENTREPRENEURSHIP EXAMINATION QUESTIONS AND CORRECT ANSWER WITH EXPLANATION GRADED A+ STUDY GUIDE

ENTREPRENEURSHIP EXAMINATION QUESTIONS AND
CORRECT ANSWER WITH EXPLANATION GRADED A+
STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY
1. Entrepreneurship is:
A. Government work
B. The process of creating and managing a business venture
C. Court operations
D. Police work
Answer: B
Rationale: Entrepreneurship involves starting and running businesses.

2. An entrepreneur is:
A. An employee
B. A person who creates and manages a business
C. A judge
D. A police officer
Answer: B
Rationale: Entrepreneurs take business risks.

3. Innovation means:
A. Copying ideas
B. Creating new ideas or products
C. Arresting criminals
D. Court decisions
Answer: B
Rationale: Innovation is new value creation.

4. Risk-taking in entrepreneurship refers to:
A. Avoiding business
B. Accepting uncertainty in business outcomes
C. Legal punishment
D. Court risk
Answer: B
Rationale: Entrepreneurs face uncertainty.

5. Opportunity recognition is:
A. Ignoring markets

, B. Identifying business ideas
C. Arresting competitors
D. Court analysis
Answer: B
Rationale: Spotting business gaps.

6. Business plan is:
A. Court document
B. A written document describing business goals and strategies
C. Police report
D. HR report
Answer: B
Rationale: Blueprint of business.

7. Small business is:
A. Government institution
B. A privately owned business with limited scale
C. Court system
D. Police station
Answer: B
Rationale: Limited operations.

8. Start-up is:
A. Closed business
B. Newly established business
C. Court system
D. HR department
Answer: B
Rationale: New business venture.

9. Capital refers to:
A. Crime money
B. Money or resources used in business
C. Court fines
D. HR tools
Answer: B
Rationale: Business funding.

10. Fixed capital is:
A. Cash only

, B. Long-term assets like machinery
C. Crime assets
D. Court assets
Answer: B
Rationale: Long-term investment.

11. Working capital is:
A. Fixed assets
B. Day-to-day operating funds
C. Court money
D. Crime money
Answer: B
Rationale: Short-term liquidity.

12. Business opportunity is:
A. Court case
B. A favorable condition for starting business
C. Arrest opportunity
D. Crime opportunity
Answer: B
Rationale: Market potential.

13. Feasibility study is:
A. Crime study
B. Evaluation of business viability
C. Court analysis
D. HR study
Answer: B
Rationale: Business viability check.

14. Market research helps to:
A. Arrest customers
B. Understand customer needs
C. Ignore markets
D. Increase crime
Answer: B
Rationale: Customer understanding.

15. Sole proprietorship is owned by:
A. Government