Exam (elaborations) MGT602 Entrepreneurship Soved MCQ from Books C Virtual University MCQs BANK MCQs Collection

Exam (elaborations) MGT602 Entrepreneurship Soved MCQ from Books C Virtual University MCQs BANK MCQs Collection MGT602 Entrepreneurship Soved MCQ from Books C Virtual University MCQs BANK MCQs Collection Virtual University MCQs BANK Virtual University MCQs BANK -- MCQs Collection MCQs Collection from Online Quizzesfrom Online Quizzes MGT602 Solved MCQ from Books C View Comments MGT602 Entrepreneurship 1 The venture's form of ownership should be included and described in the production plan section of the business plan. A)True B)False D)planning 10 Which of the following is not among the three perspectives that should be considered in preparing a business plan? A)marketing perspective B)perspective of the entrepreneur C)investor perspective D)technical perspective 1 If the entrepreneur closely monitors the progress of the existing plan, he or she need not be concerned about contingencies. A)True B)False D)Focus groups 1 The leaders of the organization need not always consider themselves role models for their employees. A)True B)False 2 In an S corporation capital gains or losses from the corporation are treated as personal income or losses. A)True B)False 3 The most attractive type of business formation for raising capital is A)True B)False 4 A sole proprietorship is dissolved in the event of the owner's death. A)True B)False 5 The proprietor is not personally liable for any aspects of the business. A)True B)False 6 The board of advisors: A)is subject to regulations stipulated in the Sarbanes-Oxley Act. B)has no legal status. C)is not advisable in a family-owned business. D)is likely to meet more frequently. 7 In a(n) ______________________, only one class of stock is permitted. A)sole proprietorship B)C corporation C)S corporation D)partnership 8 ________________ distribute profits to owners through dividends. A)Sole proprietorship B)General partnerships C)Limited partnerships D)Corporations 9 In a ______________, bonds can be used to raise capital. A)corporation B)limited partnership C)general partnership D)sole proprietorship MGT602 SOLVED MCQs (A) solved by vuZs team Join this Group Main Study Portal 1-Writing business plan can ensure that a) You achieve your expense projections. b) You figure out how to make your business work. c) You meet your target revenue goals. d) You make a profit. 2-Your ________ is a concise communication of your strategy including your business definition and your competitive advantage a) Target market analysis b) Mission statement c) Values statement d) Business plan 3-High-potential ventures are a) Ventures that have high growth potential and therefore receive great investor's interest b) Very low growth venture c) Small ventures that support the owners and usually do not grow d) None of the mentioned options 4-Inner control (discipline), risk taking, innovativeness, change oriented personality are a) Business management skills b) Technical skills c) Personal entrepreneurial skills d) None of the mentioned options 5-Proactiveness includes a) Initiative taking b) Risk taking c) Competitive aggressiveness d) All of the mentioned options 6-Some of the world's greatest entrepreneurs have overcome challenges from their childhood and youth, including: a) Learning disabilities b) Extreme poverty c) Abuse d) All of the mentioned options 7-Entrepreneurs view change as a) An opportunity b) An inevitable situation c) A problem d) None of the above options 8-Profit is a sign that an entrepreneur has added value to the “scarce” ________ that he or she is using. a) Resources b) Employees c) Goods d) Ideas 9-Breakthrough innovations are a) A new product with just physical change b) A new product with some technological change c) Same product with some technological change d) None of the mentioned options 1-Combination of at least two firms doing similar businesses at the same level is: Horizontal Merger Vertical Merger Product Extension Merger Diversified Activity Merger 2-A ______________ is an entity formed between two or more parties to undertake economic activity together. Indirect Exporting Joint Venture Licensing Entrepreneurship 3-Combination of at least two firms at different market levels is: Horizontal Merger Vertical Merger Product Extension Merger Diversified Activity Merger -____________ is a method of developing new ideas when the individuals are unaware of the problem. Checklist Method Free Association Method Gordon Method Scientific Method 5-A spirit of entrepreneurs must be: Ethically influenced Managerial Voluntary None of the given option 6-Most of the innovations are: Iterative Synthesis Ordinary Innovation Technological innovations Breakthrough innovations 7-The _________________ refers to the ways managers make decisions. Administrative domain Entrepreneurial domain Intrapreneurial domain All of the given options 8-Without _______________ , the organization will never be able to make the necessary Changes. Lower Management Top Management Middle Management None of the given options 9-The companies use the technology to make itself: Faster and Flexible Faster and Stiff Inflexible and rigid All of the given options 10-The___________________ is the term used to describe the complete process of bringing a new product or service to market. Idea Stage Concept Stage Product Development Test Marketing Stage Ref: ► Innovation ► Creative flexibility Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity? ► Entrepreneurship ► Hyper competition ► Governmental laws ► Organizational culture There is an evidence that an entrepreneur usually has _______________ parents. Self employed Discouraged Non supportive Strict Following are the problems in developing the economies EXCEPT: Gap of knowledge Variable rate of return Same communication style Different accounting system Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? Idea Stage Product Planning Stage Product Development Stage Test Marketing Stage Product planning and development process Generally divided into five major stages: idea stage, concept stage, product development stage, test marketing stage, test marketing stage, and commercialization stage Which of the following is a more structured method of problem solving, including principles and rules for concept formation, making observations and experiments, and finally validating the hypothesis? Scientific method Heuristics Attribute listing Value analysis Scientific method This is a more structured method of problem solving, including principles and rules for concept formation, making observations and experiments, and finally validating the hypothesis. Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment? Merger Joint venture Minority interest Majority interest Which of the following plan shows the economically feasibility of business? Business Financial Economic Marketing What are the number of questions a marketing plan usually answers? 5 2 3 4 1=What business are you in? 2=What are the priorities for the growth of your business? 3=What are the barriers to growth? 4=What business marketing strategy, structure and actions will accelerate the growth of your company? 5=What steps can you take immediately to improve the effectiveness of your business marketing? Which of the following allows the entrepreneur to establish controls on the process during the implementation of the marketing plan? Sales data Research data Consumer data Technical data Which of the following shows the characteristic of the venture that has experience in related business? Strength Weakness Opportunity Threat Advertising and promotion for the business-to-business market involve all of the following EXCEPT: Indirect sales Trade magazine advertising Direct sales Trade shows Which of the following shows the characteristic of the venture that has experience in related business? Strength Weakness Opportunity Threat In which of the following, banks are usually reluctant to give loan? Sole Proprietor Public Limited Companies Partnership firm Private Limited Companies In which of the following majority holds the management control? Partnership Corporation Limited liability company All of the given options Which of the following represents the environment in which entrepreneurship can’t grow? Boom Vacuum Maturity Introductory Phase Its correct answer is "vacuum" because rest three are not environment rather these are different stages of business. As the main feature of entrepreneurship is "independence”. So in vacuum environment an entrepreneur cannot grow. "What the entrepreneur hopes to accomplish" includes in which section of business plan? Vision statement Mission Statement Goal Statement All of the above The description of the venture should be detailed in this section. This should begin with the mission statement or company mission, which describes the nature of the business and what the entrepreneur hopes to accomplish. Which of the following shows the standard acceptable term of a Limited Liability Company? Three Ten Twenty Thirty Page no 73 6. The standard acceptable term of an LLC is 30 years. Which one of the following provides a guideline in determining hiring procedures? Job description Job specification Job analysis Job evaluation Before writing the organization plan, it is helpful to prepare a job analysis. The job analysis serves as a guide in determining hiring procedures and job descriptions and specifications. The S corporation combines the tax advantages of which one of the following? Proprietorship and limited liability company Partnership and corporation Corporation and limited liability company Partnership and proprietorship Page no 73 1. A popular new entity is the limited liability company (LLC), which offers similar Advantages as the S Corporation but with more liberal tax rules under subchapter K. This form is a partnership-corporation hybrid with the following characteristics: Which of the following is the base of Job Advertisement? Job Description Job Specification Job identification All of the above options Which of the following shows the results from the difference between actual cash receipts and cash payments? Revenue Profit Cash flow Income statement What is the primary concern of entrepreneurs, who trade equity for their growing venture? Control Valuation Investor capabilities Capitalization When the business does not have assets to support a loan, the entrepreneur may go for which one of the following options? Character loan Straight commercial loan Installment loan Long term loan .Character loans. a. When the business does not have assets to support a loan, the entrepreneur may need a character loan. b. These loans must have assets of an individual pledged as collateral, or have the loan cosigned by another Which of the following number of years a mortgage loan may possibly cover? In which of the following techniques, money is given to a firm for developing a technology and involves a tax shelter? Small business administration loans Cash flow financing Small business innovation research grant Research and development limited partnership This method of financing provides funds from inventors looking for tax shelters. A typical R&Dpartnership arrangement is established with a sponsoring company developing the technology with funds being provided by a limited partnership of individual investors. Research and development limited partnerships are particularly good when the project involves a high degree of risk or significant expense. The overall coordinating party in an agreement is: Limited partner Major partner not sure Minor partner General partner Which of the following includes grants from the U.S. government to small technology based businesses? Small business administration loans Small business innovation research grant Research and development limited partnership Installment loans Page no 87 Which of the following is a formalized method for obtaining funds from private investors? Private placement Private offering Regulation D Bootstrap financing Xerox page 16 Unilever Walls Volta The entrepreneur must possess the abilities: Creative Conceptualization Understanding environment All of the given options In which of the following era entrepreneur enters into a contract with government to perform a service? 20th century Earliest period Middle ages 17th century In the 17th century the entrepreneur was a person who entered into a contract with the government toper form a service Richard Cantillon, a noted economist of the 1700s, developed theories of the entrepreneur and is regarded as the founder of the term. Which one of the following is a firm that achieves modest growth? High potential growth firm Foundation firm Life style Public company In entrepreneurial domain the commitment to opportunity has short time span but in managerial domain it is: For 1 month For 6 months For long time span For 1 year Moral support network includes all of the following EXCEPT: Spouses Friends Business associates sure Relatives page no 26 There is evidence that an entrepreneur usually has _______________ parents. Self employed Discouraged Non supportive Strict Following are the problems in developing the economies EXCEPT: Gap of knowledge Variable rate of return Same communication style Different accounting system Which of the following has not yet been empirically established as a distinguishing characteristic of entrepreneurs? ► Locus of control ► Feeling about independence ► Need for achievement ► Risk taking Risk Taking Risk taking seems a part of the entrepreneurial process. However, it has not yet been empirically A typical inventor is usually ________________________. ► Highly creative & in love with the invention ► Does not encourage change ► Willing to modify the invention in order to augment commercial benefit