More Than 1000 Solved MCQs ofMGT602 EntrepreneurshipByhttp://vugoogle.comWhich of the following factors does not affect a person for being an entrepreneur?Select correct option:Family backgroundEducationPersonal valuesGenderWhich one of the following is a barriers to new product creation and development?Select correct option:Trial and errorOpportunity parameterOpportunity costIntrapreneurship cultureWhich of the following has a contradictory relationship with an individual for being anentrepreneur?His birth orderParents’ social statusParents’ occupationRelationship with parentshttp://vugoogle.com1In which of the following sources the large positive cash flow may need to beinvested?Long termShort termAverage termNone of the above optionsGood entrepreneurs are usually from families which are:LandlordsCapitalistsCan be from any family with supportive parentsConservative parentsThe evaluation criteria for the new product should include all of the following,EXCEPT:Select correct option:Determination of market demandDetermination of the suppliersPricing and marketing policies of other competing firmsProduct should be profitableA short-term, internal source of funds can be obtained by reducing all of followingEXCEPTSelect correct option:Short-term assetsCashFixed assetsInventoryhttp://vugoogle.com2Which one of the following is NOT an Intrapreneurial leadership characteristic?Understands environment

Encourage the team workNot flexiblePersistentBeing one’s own boss is a need of:IndependenceAchievementAffiliationAuthorityWhich one of the following is NOT an external factor?New regulationsCompetitionSocial changesManufacturingWhich one of the factors should be considered while assessing the space forbusiness?ParkingAccess from roadways to facilityDelivery ratesAll of the given optionsWhich of the following is NOT followed in brainstorming?Criticism is done by the group membersThe wilder idea is betterQuantity of ideas is requiredThe session should be fun, with no on dominating the discussionhttp://vugoogle.com3The commitment of administrative domain to the resources is for:Select correct option:Periodic intervalsTotal amount neededFor certain tasksFor long timeWhich of the following budget is required for the purchase of new equipment?Sales BudgetOperational BudgetCapital BudgetManufacturing BudgetThe ____ plan describes how the product will be distributed and priced.FinancialProductionVentureMarketingThe marketing perspective of business plan considers the venture through the eyesof:InvestorCustomerEntrepreneurMarketing managerhttp://vugoogle.com4A patent is granted for a specified amount of time because of the assumption:That during this time firm will cover its development costsThat firm will earn a sufficient profit during this periodTo limit the monopoly of the firmThat it will stimulate idea and development of a better productWhich of the following contains all backup material that is not included in the text of

business plan?History of entrepreneurFinancial planAppendixBibliographyBanks are usually reluctant to give loan to thePrivate Limited CompaniesPartnership firmPublic Limited CompaniesSole ProprietorSales revenue of the internet based business can be projected from the:Number of customersNumber of HitsNumber of clicksAll of the above optionsFollowing are the types of foreign direct investment EXCEPT:Joint ventureManagement contractsMinority interestMergerhttp://vugoogle.com5Which one of the following is required to develop a good team for creating somethingnew?Relationship with team membersOpen discussionNon flexible behaviorDiscouragement of team member’s ideasThere is evidence that an entrepreneur usually has _____________ parents.Self employedDiscouragedNon supportiveStrictThe entrepreneur must possess the abilities:CreativeConceptualizationUnderstanding environmentAll of the given optionsGATT is established in 1947, under:Japan leadershipChina leadershipU.S. leadershipU.K. leadershiphttp://vugoogle.com6Which of the following geographical area is having least interest to U.S.entrepreneurs?Select correct option:EuropeThe Far EastCentral AsiaTransition economiesWhich of the following factors does not affect a person for being an entrepreneur?Work historyNationalityEducation

Personal valuesThe most sensitive plan in the business plan is?Operational PlanProduction PlanMarketing PlanFinancial PlanA typical inventor is usually ______________________.Highly creative & in love with the inventionDoes not encourage changeWilling to modify the invention in order to augment commercial benefitNone of the given optionsThe former USSR received technology and syrup from Pepsi and provided it withSoviet vodka and rights to distribute it in the US. This is an example of:Economic developmentBarter systemBalance of paymentInternational tradehttp://vugoogle.com7Moral support network includes following EXCEPT:SpousesFriendsBusiness associatesRelativesBanks are usually reluctant to give loan to theSelect correct option:Private Limited CompaniesPartnership firmPublic Limited CompaniesSole ProprietorA contract must be signed by:At least one partyBoth the partiesNot necessary to signBy third partyThe commitment of administrative domain to the resources is for:Select correct option:Periodic intervalsTotal amount neededFor certain tasksFor long timehttp://vugoogle.com8What is the primary concern of founders who trade equity for capital for theirgrowing venture?Select correct option:CapitalizationInvestor capabilitiesValuationControlWhich one of the following is NOT the problem in developing the economies ofdifferent under developed countries ?Gap of knowledgeVariable rate of returnSame communication styleDifferent accounting system

Which of the following is the backbone of financial plan?Select correct option:BudgetingCapitalNature of the businessAll of the above optionsWhich one of the following is NOT included in four C’s evaluation by lender?Select correct option:CharacterCostContinuityContributionWhich one of the following is a sound strategic option for an entrepreneur whensynergy is present?Select correct option:MergerJoint ventureMinority interestMajority interesthttp://vugoogle.com9Which of the following is the previous name of SME?Select correct option:SPCCSMEDASBFCFMBCIn which of the following year implementation of SBA Financial plan took place?Select correct option:1971197219731974An ice cream producing company merges with a cotton spinning company thismerger is an example of:Select correct option:Diversified activity mergerProduct extension mergerMarket extension mergerVertical mergerDirectors in corporation are elected by the____Select correct option:Middle Level ManagersEntrepreneurShareholdersLow level Managershttp://vugoogle.com10The difference between the value of a country’s imports and exports over time iscalled:Select correct option:Deficit exportsDeficit importsBalance of paymentBalance of debtWhich of the following is NOT a requirement of Disclosure Document?

Select correct option:Description of the inventionClaims for invention’s usefulnessPhotos of inventionCover letterAccording to McClelland’s need theory, entrepreneurs possess which of the followingneeds?Select correct option:Need for achievementNeed for powerNeed for affiliationNeed for esteemThe _______ plan should contain control points to ascertain progress.Select correct option:BusinessMarketingFinancialOperationalhttp://vugoogle.com11Which one of the following is the next stage to the Concept Stage of ProductPlanning and Development Process?Select correct option:Idea StageProduct Planning StageProduct Development StageTest Marketing StageWhich type of Job analysis enlists the qualification of individual?Select correct option:Job DescriptionJob SpecificationJob identificationAll of the above optionsWhich one the following is the uncontrollable factor in international trade?Select correct option:EconomicCulturalTechnologicalAll of the given optionsThe activities which occur when the new venture is started are called:Select correct option:MotivationGoal orientationDeparture pointBusiness skillsFemale entrepreneurs differ from male entrepreneurs in terms of following EXCEPT:MotivationBusiness skillsDeparture pointGoal orientationhttp://vugoogle.com12Which of the following can not be covered under the copyright protection?Computer softwareComputer hardwarePoems and songs

Models and sculptureA Focus Group mainly consists of a sample of8-10 People10-12 People12-14 People14-16 PeopleWhich one of the following gives suggestions for new product but also helps tomarket newSelect correct option:Existing products and servicesDistribution channelsFederal governmentConsumersWhich one of the following insurance is required by law?Life insuranceProperty insuranceDisability and vehicle coverageHealth care coverageWhich one of the following contracts should be in written?Real estatesLeaseRentalsAll of the given optionshttp://vugoogle.com13Which of the following plans help to provide an organization chart indicating the linesof authority?PhysicalBusinessOrganizationalMarketingThe difference in the entrepreneurial and managerial domains has contributedtowards an increase interest in:Forming new firmsPartnershipIntrapreneurshipPrivate firmsThe chief motivational factor for _______________ entrepreneurs to leave jobs isthe frustration of not being allowed to perform at the level of which they are capable.MaleFemaleYoungAll of the given optionsIn an international perspective, which of the following decisions are NOT coveredunder strategic planning of an entrepreneur?What are unique characteristics of each market?Who should be involved in marketing decisions?What customer benefits are provided by the product?What are the company’s major strengths and weaknesses?In stage of responsibility allocation process the entrepreneur follows:Highly centralized decision making processHighly decentralized decision making processSomewhat centralized decision making processNo particular standardhttp://vugoogle.com14

Selling goods to another country through a person in the entrepreneur’s homecountry is known as:TradingDirect exportIndirect exportDomestic salesThe transitional disturbance and lack of reform has led to boom black market in:ChinaHungarySingaporePolandThe evaluation criteria for the new product should include all of the following,EXCEPT:Determination of market demandDetermination of the suppliersPricing and marketing policies of other competing firmsProduct should be profitableWhich two work environments should be good for spawning the new enterprises?Finance and marketingFinance and R&DMarketing and R&DMarketing and IT“What the entrepreneur hopes to accomplish” includes in theVision statementMission StatementGoal StatementAll of the abovehttp://vugoogle.com15The most important characteristic of a successful business website is::SpeedInnovationGraphicsProductsWhich one of the following method shows the term which is related to starting fromscratch to a bigger picture?Upward movement methodIncremental methodDownward movement methodNone of the above optionsFollowing are the important aspects of international success EXCEPT:PlanningDiversificationReporting not sureControlWhich one of the factors should be considered while assessing the space forbusiness?ParkingAccess from roadways to facilityDelivery ratesAll of the given optionsWhich one of the following options has NOT a total taxable entity?Select correct option:Minor partnerLimited partnerGeneral partner

All of the given optionshttp://vugoogle.com16Which one of the Following is the way by which an entrepreneur can enter intointernational business?ExportNon equity arrangementsDirect foreign investmentAll of the given optionsWhich of the following number of years a mortgage loan may possibly cover?Select correct option:20301040The longest lasting trade agreement with the objective of liberalizing trade byeliminating or reducing tariffs, subsidies and quotas is:Select correct option:Free trade area – FTAEuropean community – ECGeneral agreement on tariffs and trade – GATTThe North American free trade agreement – NAFTAWhich of the following factors does not affect a person for being an entrepreneur?Select correct option:Family backgroundEducationPersonal valuesGenderWhich one of the following best represents the environment of an entrepreneurialoriented organization?Corporate cultureEntrepreneurial cultureIntrapreneurial cultureTraditional culturehttp://vugoogle.com17Question # 1 of 15 ( Start time: 12:49:39 AM ) Total Marks: 1The importance of intellectual property should be understood by entrepreneur evenbefore:Hiring a managerEngaging an attorneyDeveloping a productEstablishing new venturepage 46 Intellectual property which includes patents, trademarks, copyrights, andtrade secrets represent important assets of entrepreneur and should be understoodeven before engaging the services of an attorney.Question # 2 of 15 ( Start time: 12:51:03 AM ) Total Marks: 1An entrepreneur into the hosiery business found out the reason his hosiery was notselling was due to its color. What could be the best source of this information?SupplierRetailerCompetitionGovernment bureauQuestion # 3 of 15 ( Start time: 12:52:24 AM ) Total Marks: 1The transitional disturbance and lack of reform has led to boom black market in:China

HungarySingaporehttp://vugoogle.com18PolandPage # 38 In Poland, the transitional upheaval and lack of reform has led to athriving black market.Question # 4 of 15 ( Start time: 12:53:48 AM ) Total Marks: 1Which of the following is NOT a requirement of Disclosure Document?Description of the inventionClaims for invention’s usefulnessPhotos of inventionCover letterThe entrepreneur should first file a disclosure document to establish a date ofconception. To file, the entrepreneur must prepare a clear description of theinvention along with photos and a cover letterQuestion # 5 of 15 ( Start time: 12:55:21 AM ) Total Marks: 1The person with capital was differentiated from the one who needed the capital inthe:Middle ages17th century18th century20th centurypage 3 In the 18th century the person with capital was differentiated from the onewho needed capitalQuestion # 6 of 15 ( Start time: 12:56:54 AM ) Total Marks: 1http://vugoogle.com19The marketing perspective of business plan considers the venture through the eyesof:InvestorCustomerEntrepreneurMarketing managerThe marketing perspective considers the venture through the eyes of the customerp#54Question # 7 of 15 ( Start time: 12:58:24 AM ) Total Marks: 1Andrew Carnegie is an example of entrepreneur of which century:Select correct option:Earliest period19th and 20th centuryMiddle ages17th centuryPage # 3Question # 8 of 15 ( Start time: 12:59:03 AM ) Total Marks: 1Which one the following is the uncontrollable factor in international trade?EconomicCulturalTechnologicalAll of the given optionshttp://vugoogle.com20Question # 9 of 15 ( Start time: 12:59:30 AM ) Total Marks: 1Members of distribution channels are excellent sources for new ideas because:They are familiar with the needs of the marketThey earn a handsome profit from new business

They do not bother if entrepreneur bears a lossThey have well-developed sales forceMembers of distribution channels are also excellent sources for new ideas becausethey are familiar with the needs of the market P#39Question # 10 of 15 ( Start time: 01:00:27 AM ) Total Marks: 1The difference in the entrepreneurial and managerial domains has contributedtowards an increase interest in:Forming new firmsPartnershipIntrapreneurshipPrivate firmshttp://vugoogle.comQuestion # 11 of 15 ( Start time: 01:01:29 AM ) Total Marks: 1The most sensitive plan in the business plan is?Operational PlanProduction PlanMarketing PlanFinancial Planhttp://vugoogle.com21Question # 12 of 15 ( Start time: 01:02:56 AM ) Total Marks: 1Banks are usually reluctant to give loan to thePrivate Limited CompaniesPartnership firmPublic Limited CompaniesSole ProprietorQuestion # 13 of 15 ( Start time: 01:03:42 AM ) Total Marks: 1The commitment of administrative domain to the resources is for:Periodic intervalsTotal amount neededFor certain tasksFor long timeIn the administrative domain, the commitment of resources is for the total amountneededQuestion # 14 of 15 ( Start time: 01:04:51 AM ) Total Marks: 1Which of the following plans help to provide an organization chart indicating the linesof authority?PhysicalBusinessOrganizationalMarketinghttp://vugoogle.com22The organizational plan section should describe the venture’s form of ownership. Ifthe venture is a corporation, this should include the number of shares authorized,share options, and names and addresses of the directors and officers. It is helpful toprovide an organization chart P#58Question # 15 of 15 ( Start time: 01:06:03 AM ) Total Marks: 1Entrepreneur may start his business by considering following number/s of option/s1234Question # 1 of 15 ( Start time: 01:15:11 AM ) Total Marks: 1

Selling goods to another country by taking care of transactions is called:Select correct option:Indirect exportingDirect exportingImportingManagement contractDirect exporting :Selling goods to another country by taking care of the transactionQuestion # 3 of 15 ( Start time: 01:17:19 AM ) Total Marks: 1Licensing is a significant marketing strategy to:http://vugoogle.com23Select correct option:Use intellectual property of othersPirate others’ patentsGrow the business in new marketsControl the costsQuestion # 4 of 15 ( Start time: 01:18:14 AM ) Total Marks: 1Directors in corporation are elected by the______Select correct option:Middle Level ManagersEntrepreneurShareholdersLow level ManagersQuestion # 5 of 15 ( Start time: 01:18:37 AM ) Total Marks: 1A ______ is also essential if a new venture is a manufacturing concern.Select correct option:Market analysisOperations planBank loanOrganizational planIf a new venture is a manufacturing operation, a production plan/ operational plan isnecessary. P#58http://vugoogle.com24http://vugoogle.comQuestion # 6 of 15 ( Start time: 01:20:06 AM ) Total Marks: 1___________ process of creating incremental wealth is called Entrepreneurship.Select correct option:DynamicStaticContinuousSystematicEntrepreneurship is the dynamic process of creating incremental wealth P#4Question # 7 of 15 ( Start time: 01:20:51 AM ) Total Marks: 1

The combining of two or more independent bodies into a single body is knownas:Select correct option:Joint ventureMergerRivalryProtectionist attitudesQuestion # 8 of 15 ( Start time: 01:21:41 AM ) Total Marks: 1An actor and a person who managed large project were termed as theentrepreneur in the _________.Select correct option:Earliest periodhttp://vugoogle.com25Middle ages17th century19th and 20th centuryMiddle Ages: In this age the term entrepreneur was used to describe both an actor and aperson who managed large production projectsQuestion # 9 of 15 ( Start time: 01:22:26 AM ) Total Marks: 1External forces directly affect all of the following EXCEPT:Select correct option:Market segmentation strategiesTypes of products/services offeredManagement structure of organizationChoice of businesses to acquire or sellQuestion # 10 of 15 ( Start time: 01:23:19 AM ) Total Marks: 1Following are the types of non equity arrangements EXCEPT:Select correct option:LicensingManagement contractsDirect exportTurnkey projectsPg#31http://vugoogle.com26Question # 11 of 15 ( Start time: 01:24:22 AM ) Total Marks: 1Front level managers have _______ SkillSelect correct option:ConceptualCommunicationalTechnicalAll of the aboveQuestion # 12 of 15 ( Start time: 01:25:37 AM ) Total Marks: 1A Focus Group mainly consists of a sample ofSelect correct option:

8-10 People10-12 People12-14 People14-16 PeopleA focus group is a sample of 10 or 12 potential customers who participate in adiscussion. P#63Question # 13 of 15 ( Start time: 01:27:04 AM ) Total Marks: 1In stage of responsibility allocation process the entrepreneur follows:Select correct option:http://vugoogle.com27Highly centralized decision making processHighly decentralized decision making processSomewhat centralized decision making processNo particular standardQuestion # 14 of 15 ( Start time: 01:28:05 AM ) Total Marks: 1Which one of the following gives suggestions for new product but also helps tomarket new product in the market?Select correct option:Existing products and servicesDistribution channelsFederal governmentConsumersDistribution Channels Because they are familiar with the needs of the market, channelmembers often have suggestions for new products. These channel members can alsohelp in marketing the new product.Question # 15 of 15 ( Start time: 01:29:27 AM ) Total Marks: 1It is proved that most businesses failed because of improper planning of an/a:Select correct option:InvestorMarketerEntrepreneurhttp://vugoogle.com28ConsultantQuestion # 1 of 15 ( Start time: 01:31:21 AM ) Total Marks: 1Which one of the Following is the way by which an entrepreneur can enter intointernational business?Select correct option:ExportNon equity arrangementsDirect foreign investment

All of the given optionsQuestion # 4 of 15 ( Start time: 01:33:09 AM ) Total Marks: 1The evaluation criteria for the new product should include all of the following,EXCEPT:Select correct option:Determination of market demandDetermination of the suppliersPricing and marketing policies of other competing firmsProduct should be profitableQuestion # 6 of 15 ( Start time: 01:34:53 AM ) Total Marks: 1Which of the following is NOT a characteristic of an entrepreneur?Select correct option:Need for independencehttp://vugoogle.com29Need for affiliationNeed for achievementRisk takingQuestion # 8 of 15 ( Start time: 01:35:32 AM ) Total Marks: 1Which one of the following is NOT an intrapreneurial leadership characteristic?Select correct option:Understands environmentEncourage the team workNot flexiblePersistenthttp://vugoogle.comQuestion # 10 of 15 ( Start time: 01:36:28 AM ) Total Marks: 1An individual’s need to be recognized is called:Select correct option:Need for independenceNeed for affiliationNeed of fameNeed for achievementNeed for achievement : An individual’s need to be recognizedQuestion # 11 of 15 ( Start time: 01:37:12 AM ) Total Marks: 1http://vugoogle.com30The ______ plan describes how the product will be distributed and priced.Select correct option:FinancialProductionVentureMarketingQuestion # 13 of 15 ( Start time: 01:37:45 AM ) Total Marks: 1

Which of the following is the best option for starting the business with equityfinancing?Select correct option:CorporationPartnership firmSole ProprietorNone of the aboveQuestion # 14 of 15 ( Start time: 01:38:32 AM ) Total Marks: 1Which of the following is included in the description of the business?Select correct option:LocationProducts offeredhttp://vugoogle.com31HistoryAll of the given optionsQuestion # 2 of 15 ( Start time: 01:42:50 AM ) Total Marks: 1The evaluation criteria for the new product should include all of the following,EXCEPT:Select correct option:Determination of market demandDetermination of the suppliersPricing and marketing policies of other competing firmsProduct should be profitableQuestion # 3 of 15 ( Start time: 01:43:13 AM ) Total Marks: 1Which of the following contains all backup material that is not included in the textof business plan?Select correct option:History of entrepreneurFinancial planAppendixBibliographyThe appendix contains any backup material not included in the text of the documenthttp://vugoogle.com32Question # 4 of 15 ( Start time: 01:43:59 AM ) Total Marks: 1Which of the following is alternatively called corporate venturing?Select correct option:EntrepreneurshipIntrapreneurshipAct of stating a new ventureOffering new products by an existing companyIntrapreneurship, also called corporate venturing, is not without problems P#21

Question # 5 of 15 ( Start time: 01:44:37 AM ) Total Marks: 1The difference between the value of a country’s imports and exports over time iscalled:Select correct option:Deficit exportsDeficit importsBalance of paymentBalance of debtQuestion # 7 of 15 ( Start time: 01:46:53 AM ) Total Marks: 1An entrepreneur doing business within the national border is called:Select correct option:International entrepreneurshiphttp://vugoogle.com33IntrapreneurshipDomestic entrepreneurshipImportsQuestion # 8 of 15 ( Start time: 01:47:46 AM ) Total Marks: 1Which one of the following contracts should be in written?Select correct option:Real estatesLeaseRentalsAll of the given optionsQuestion # 9 of 15 ( Start time: 01:48:09 AM ) Total Marks: 1Which one of the following is not a source of idea generation?Select correct option:ConsumersBrain stormingFocus groupNone of the given optionsQuestion # 10 of 15 ( Start time: 01:49:15 AM ) Total Marks: 1http://vugoogle.com34Moral support network includes following EXCEPT:Select correct option:SpousesFriendsBusiness associatesRelativesMoral-Support Network It is important for the entrepreneur to establish a moralsupport network of family and friends.Question # 11 of 15 ( Start time: 01:49:39 AM ) Total Marks: 1The person with capital was differentiated from the one who needed the capital in

the:Select correct option:Middle ages17th century18th century20th centuryIn the 18th century the person with capital was differentiated from the one who neededcapitalQuestion # 12 of 15 ( Start time: 01:50:21 AM ) Total Marks: 1Why should an entrepreneur do a feasibility study?Select correct option:To see if there are possible barriers to successhttp://vugoogle.com35To identify possible sources of fundsTo estimate the expected salesTo explore potential customersBefore preparing a business plan, the entrepreneur should do a quick feasibility study tosee if there are possible barriers to successQuestion # 15 of 15 ( Start time: 01:51:37 AM ) Total Marks: 1Which of the following geographical area is having least interestto U.S. entrepreneurs?Select correct option:EuropeThe Far EastCentral AsiaTransition economiesEntrepreneurial success has been significant because of the culture and the politicaland economic systems in _______.Select correct option:European countriesAsian countriesTransition economiesMiddle Easthttp://vugoogle.com36It is proved that most businesses failed because of improper planning of an/a:Select correct option:InvestorMarketerEntrepreneurConsultantA ____ is also essential if a new venture is a manufacturing concern.Select correct option:Market analysisOperations planBank loanOrganizational planWhich one the following is the uncontrollable factor in international trade?

Select correct option:EconomicCulturalTechnologicalAll of the given optionsDirectors in corporation are elected by the____Select correct option:Middle Level ManagersEntrepreneurShareholdersLow level ManagersGenerally, male entrepreneurs start their first venture in the age of:Select correct option:Late 20sEarly 30sLate 30sEarly 40shttp://vugoogle.com37The combining of two or more independent bodies into a single body is known as:Select correct option:Joint ventureMergerRivalryProtectionist attitudesThe commitment of administrative domain to the resources is for:Select correct option:Periodic intervalsTotal amount neededFor certain tasksFor long timeWhich of the following is NOT followed in brainstorming?Select correct option:Criticism is done by the group membersThe wilder idea is betterQuantity of ideas is requiredThe session should be fun, with no on dominating the discussionWhich one of the following is NOT the problem in developing the economies ofdifferent under developed countries?Select correct option:Gap of knowledgeVariable rate of returnSame communication styleDifferent accounting systemhttp://vugoogle.com38Degree of influence and control on other people is called:Select correct option:Locus of controlLocomotion of controlLocust of controlLoss of controlWhich of the following has a contradictory relationship with an individual for being anentrepreneur?Select correct option:His birth order

Parents’ social statusParents’ occupationRelationship with parentsStake holders are present in_____Select correct option:PartnershipCorporationSole ProprietorshipNone of the aboveAll of the following are essential to maintain secrecy EXCEPT:Select correct option:Train employees to refer sensitive questions to one personDiscuss business in public placesProvide escorts for all office visitorsUse simple security such as locked file cabinetsMajor contribution of export comes from:Select correct option:Leather goodsSurgical instrumentSports goodsAll of the given optionshttp://vugoogle.com39The assessment of the needed resources by the entrepreneur starts with:Select correct option:An appraisal of the entrepreneur’s present resourcesAn assessment of economic conditions of the countryA scanning of friends and family for fundsA survey of banks and other financial institutions in the areaAccording to McClelland’s need theory, entrepreneurs possess which of the followingneeds?Select correct option:Need for achievementNeed for powerNeed for affiliationNeed for esteemWhich of the following number of years a mortgage loan may possibly cover?Select correct option:20301040Following are the types of foreign direct investment EXCEPT:Select correct option:Joint ventureManagement contractsMinority interestMergerhttp://vugoogle.com40Members of distribution channels are excellent sources for new ideas because:Select correct option:They are familiar with the needs of the marketThey earn a handsome profit from new businessThey do not bother if entrepreneur bears a lossThey have well-developed sales force

Which one of the following is required to develop a good team for creating somethingnew?Select correct option:Relationship with team membersOpen discussionNon flexible behaviorDiscouragement of team member’s ideasWhich one of the following culture that has a climate and reward system that favorconservative decision making?Select correct option:EntrepreneurialIntrapreneurialCorporateNone of the given optionsWhich of the following has a contradictory relationship with an individual for being anentrepreneur?Select correct option:His birth orderParents’ social statusParents’ occupationRelationship with parentshttp://vugoogle.com41The difference between the value of a country’s imports and exports over time iscalled:Select correct option:Deficit exportsDeficit importsBalance of paymentBalance of debtMoral support network includes following EXCEPT:Select correct option:SpousesFriendsBusiness associatesRelativesWhich of the following would be an advantage of starting a new business overacquisition?Select correct option:Established customer baseCustomer response to locationExisting employeesAll of the above______________ distribute profits to owners through dividendsSelect correct option:Sole ProprietorGeneral PartnershipLimited PartnershipCorporationWhich statement of the following relates with the ultimate goal of BusinessSelect correct option:Profit StatementGoal StatementMission StatementVision Statement

http://vugoogle.com42An individual’s need to be recognized is called:Select correct option:Need for independenceNeed for affiliationNeed of fameNeed for achievementThe activities which occur when the new venture is started are called:Select correct option:MotivationGoal orientationDeparture pointBusiness skillsWhich one of the factors should be considered while assessing the space forbusiness?Select correct option:ParkingAccess from roadways to facilityDelivery ratesAll of the given optionsGazelles are the firms with:Select correct option:High growth rateModerate growth rateZero% growth rateLow growth rateQuestion # 1 of 15 ( Start time: 12:49:39 AM ) Total Marks: 1The importance of intellectual property should be understood by entrepreneur evenbefore:Hiring a managerEngaging an attorneyhttp://vugoogle.com43Developing a productEstablishing new venturepage 46 Intellectual property which includes patents, trademarks, copyrights, andtrade secrets represent important assets of entrepreneur and should be understoodeven before engaging the services of an attorney.Question # 2 of 15 ( Start time: 12:51:03 AM ) Total Marks: 1An entrepreneur into the hosiery business found out the reason his hosiery was notselling was due to its color. What could be the best source of this information?SupplierRetailerCompetitionGovernment bureauQuestion # 3 of 15 ( Start time: 12:52:24 AM ) Total Marks: 1The transitional disturbance and lack of reform has led to boom black market in:ChinaHungarySingaporePolandPage # 38 In Poland, the transitional upheaval and lack of reform has led to athriving black market.Question # 4 of 15 ( Start time: 12:53:48 AM ) Total Marks: 1Which of the following is NOT a requirement of Disclosure Document?

http://vugoogle.com44Description of the inventionClaims for invention’s usefulnessPhotos of inventionCover letterThe entrepreneur should first file a disclosure document to establish a date ofconception. To file, the entrepreneur must prepare a clear description of theinvention along with photos and a cover letterQuestion # 5 of 15 ( Start time: 12:55:21 AM ) Total Marks: 1The person with capital was differentiated from the one who needed the capital inthe:Middle ages17th century18th century20th centurypage 3 In the 18th century the person with capital was differentiated from the onewho needed capitalQuestion # 6 of 15 ( Start time: 12:56:54 AM ) Total Marks: 1The marketing perspective of business plan considers the venture through the eyesof:InvestorCustomerEntrepreneurMarketing managerhttp://vugoogle.com45The marketing perspective considers the venture through the eyes of the customerp#54http://vugoogle.comQuestion # 7 of 15 ( Start time: 12:58:24 AM ) Total Marks: 1Andrew Carnegie is an example of entrepreneur of which century:Select correct option:Earliest period19th and 20th centuryMiddle ages17th centuryPage # 3Question # 8 of 15 ( Start time: 12:59:03 AM ) Total Marks: 1Which one the following is the uncontrollable factor in international trade?EconomicCulturalTechnologicalAll of the given optionsQuestion # 9 of 15 ( Start time: 12:59:30 AM ) Total Marks: 1Members of distribution channels are excellent sources for new ideas because:They are familiar with the needs of the marketThey earn a handsome profit from new businessThey do not bother if entrepreneur bears a losshttp://vugoogle.com46They have well-developed sales forceMembers of distribution channels are also excellent sources for new ideas becausethey are familiar with the needs of the market P#39Question # 10 of 15 ( Start time: 01:00:27 AM ) Total Marks: 1The difference in the entrepreneurial and managerial domains has contributed

towards an increase interest in:Forming new firmsPartnershipIntrapreneurshipPrivate firmshttp://vugoogle.comQuestion # 11 of 15 ( Start time: 01:01:29 AM ) Total Marks: 1The most sensitive plan in the business plan is?Operational PlanProduction PlanMarketing PlanFinancial PlanQuestion # 12 of 15 ( Start time: 01:02:56 AM ) Total Marks: 1Banks are usually reluctant to give loan to thePrivate Limited CompaniesPartnership firmPublic Limited Companieshttp://vugoogle.com47Sole ProprietorQuestion # 13 of 15 ( Start time: 01:03:42 AM ) Total Marks: 1The commitment of administrative domain to the resources is for:Periodic intervalsTotal amount neededFor certain tasksFor long timeIn the administrative domain, the commitment of resources is for the total amountneededQuestion # 14 of 15 ( Start time: 01:04:51 AM ) Total Marks: 1Which of the following plans help to provide an organization chart indicating the linesof authority?PhysicalBusinessOrganizationalMarketingThe organizational plan section should describe the venture’s form of ownership. Ifthe venture is a corporation, this should include the number of shares authorized,share options, and names and addresses of the directors and officers. It is helpful toprovide an organization chart P#58Question # 15 of 15 ( Start time: 01:06:03 AM ) Total Marks: 1Entrepreneur may start his business by considering following number/s of option/shttp://vugoogle.com481234Question # 1 of 15 ( Start time: 01:15:11 AM ) Total Marks: 1Selling goods to another country by taking care of transactions is called:Select correct option:Indirect exportingDirect exportingImporting

Management contractDirect exporting :Selling goods to another country by taking care of the transactionQuestion # 3 of 15 ( Start time: 01:17:19 AM ) Total Marks: 1Licensing is a significant marketing strategy to:Select correct option:Use intellectual property of othersPirate others’ patentsGrow the business in new marketsControl the costshttp://vugoogle.com49Question # 4 of 15 ( Start time: 01:18:14 AM ) Total Marks: 1Directors in corporation are elected by the______Select correct option:Middle Level ManagersEntrepreneurShareholdersLow level ManagersQuestion # 5 of 15 ( Start time: 01:18:37 AM ) Total Marks: 1A ______ is also essential if a new venture is a manufacturing concern.Select correct option:Market analysisOperations planBank loanOrganizational planIf a new venture is a manufacturing operation, a production plan/ operational plan isnecessary. P#58http://vugoogle.comQuestion # 6 of 15 ( Start time: 01:20:06 AM ) Total Marks: 1___________ process of creating incremental wealth is called Entrepreneurship.Select correct option:http://vugoogle.com50DynamicStaticContinuousSystematicEntrepreneurship is the dynamic process of creating incremental wealth P#4Question # 7 of 15 ( Start time: 01:20:51 AM ) Total Marks: 1The combining of two or more independent bodies into a single body is knownas:Select correct option:Joint ventureMerger

RivalryProtectionist attitudesQuestion # 8 of 15 ( Start time: 01:21:41 AM ) Total Marks: 1An actor and a person who managed large project were termed as theentrepreneur in the _________.Select correct option:Earliest periodMiddle ages17th century19th and 20th centuryhttp://vugoogle.com51Middle Ages: In this age the term entrepreneur was used to describe both an actor and aperson who managed large production projectsQuestion # 9 of 15 ( Start time: 01:22:26 AM ) Total Marks: 1External forces directly affect all of the following EXCEPT:Select correct option:Market segmentation strategiesTypes of products/services offeredManagement structure of organizationChoice of businesses to acquire or sellQuestion # 10 of 15 ( Start time: 01:23:19 AM ) Total Marks: 1Following are the types of non equity arrangements EXCEPT:Select correct option:LicensingManagement contractsDirect exportTurnkey projectsPg#31Question # 11 of 15 ( Start time: 01:24:22 AM ) Total Marks: 1Front level managers have _______ SkillSelect correct option:http://vugoogle.com52ConceptualCommunicationalTechnicalAll of the aboveQuestion # 12 of 15 ( Start time: 01:25:37 AM ) Total Marks: 1A Focus Group mainly consists of a sample ofSelect correct option:8-10 People10-12 People12-14 People14-16 PeopleA focus group is a sample of 10 or 12 potential customers who participate in a

discussion. P#63Question # 13 of 15 ( Start time: 01:27:04 AM ) Total Marks: 1In stage of responsibility allocation process the entrepreneur follows:Select correct option:Highly centralized decision making processHighly decentralized decision making processhttp://vugoogle.com53Somewhat centralized decision making processNo particular standardQuestion # 14 of 15 ( Start time: 01:28:05 AM ) Total Marks: 1Which one of the following gives suggestions for new product but also helps tomarket new product in the market?Select correct option:Existing products and servicesDistribution channelsFederal governmentConsumersDistribution Channels Because they are familiar with the needs of the market, channelmembers often have suggestions for new products. These channel members can alsohelp in marketing the new product.Question # 15 of 15 ( Start time: 01:29:27 AM ) Total Marks: 1It is proved that most businesses failed because of improper planning of an/a:Select correct option:InvestorMarketerEntrepreneurConsultanthttp://vugoogle.com54Question # 1 of 15 ( Start time: 01:31:21 AM ) Total Marks: 1Which one of the Following is the way by which an entrepreneur can enter intointernational business?Select correct option:ExportNon equity arrangementsDirect foreign investmentAll of the given optionsQuestion # 4 of 15 ( Start time: 01:33:09 AM ) Total Marks: 1The evaluation criteria for the new product should include all of the following,EXCEPT:Select correct option:

Determination of market demandDetermination of the suppliersPricing and marketing policies of other competing firmsProduct should be profitableQuestion # 6 of 15 ( Start time: 01:34:53 AM ) Total Marks: 1Which of the following is NOT a characteristic of an entrepreneur?Select correct option:Need for independencehttp://vugoogle.com55Need for affiliationNeed for achievementRisk takingQuestion # 8 of 15 ( Start time: 01:35:32 AM ) Total Marks: 1Which one of the following is NOT an intrapreneurial leadership characteristic?Select correct option:Understands environmentEncourage the team workNot flexiblePersistenthttp://vugoogle.comQuestion # 10 of 15 ( Start time: 01:36:28 AM ) Total Marks: 1An individual’s need to be recognized is called:Select correct option:Need for independenceNeed for affiliationNeed of fameNeed for achievementNeed for achievement : An individual’s need to be recognizedQuestion # 11 of 15 ( Start time: 01:37:12 AM ) Total Marks: 1http://vugoogle.com56The ______ plan describes how the product will be distributed and priced.Select correct option:FinancialProductionVentureMarketingQuestion # 13 of 15 ( Start time: 01:37:45 AM ) Total Marks: 1Which of the following is the best option for starting the business with equityfinancing?Select correct option:CorporationPartnership firm

Sole ProprietorNone of the aboveQuestion # 14 of 15 ( Start time: 01:38:32 AM ) Total Marks: 1Which of the following is included in the description of the business?Select correct option:Locationhttp://vugoogle.com57Products offeredHistoryAll of the given optionsQuestion # 2 of 15 ( Start time: 01:42:50 AM ) Total Marks: 1The evaluation criteria for the new product should include all of the following,EXCEPT:Select correct option:Determination of market demandDetermination of the suppliersPricing and marketing policies of other competing firmsProduct should be profitableQuestion # 3 of 15 ( Start time: 01:43:13 AM ) Total Marks: 1Which of the following contains all backup material that is not included in the textof business plan?Select correct option:History of entrepreneurFinancial planAppendixBibliographyThe appendix contains any backup material not included in the text of the documenthttp://vugoogle.com58Question # 4 of 15 ( Start time: 01:43:59 AM ) Total Marks: 1Which of the following is alternatively called corporate venturing?Select correct option:EntrepreneurshipIntrapreneurshipAct of stating a new ventureOffering new products by an existing companyIntrapreneurship, also called corporate venturing, is not without problems P#21Question # 5 of 15 ( Start time: 01:44:37 AM ) Total Marks: 1The difference between the value of a country’s imports and exports over time iscalled:Select correct option:Deficit exports

Deficit importsBalance of paymentBalance of debtQuestion # 7 of 15 ( Start time: 01:46:53 AM ) Total Marks: 1An entrepreneur doing business within the national border is called:Select correct option:http://vugoogle.com59International entrepreneurshipIntrapreneurshipDomestic entrepreneurshipImportsQuestion # 8 of 15 ( Start time: 01:47:46 AM ) Total Marks: 1Which one of the following contracts should be in written?Select correct option:Real estatesLeaseRentalsAll of the given optionsQuestion # 9 of 15 ( Start time: 01:48:09 AM ) Total Marks: 1Which one of the following is not a source of idea generation?Select correct option:ConsumersBrain stormingFocus groupNone of the given optionshttp://vugoogle.com60Question # 10 of 15 ( Start time: 01:49:15 AM ) Total Marks: 1Moral support network includes following EXCEPT:Select correct option:SpousesFriendsBusiness associatesRelativesMoral-Support Network It is important for the entrepreneur to establish a moralsupport network of family and friends.Question # 11 of 15 ( Start time: 01:49:39 AM ) Total Marks: 1The person with capital was differentiated from the one who needed the capital inthe:Select correct option:Middle ages17th century18th century20th century

In the 18th century the person with capital was differentiated from the one who neededcapitalQuestion # 12 of 15 ( Start time: 01:50:21 AM ) Total Marks: 1Why should an entrepreneur do a feasibility study?Select correct option:http://vugoogle.com61To see if there are possible barriers to successTo identify possible sources of fundsTo estimate the expected salesTo explore potential customersBefore preparing a business plan, the entrepreneur should do a quick feasibility study tosee if there are possible barriers to successQuestion # 15 of 15 ( Start time: 01:51:37 AM ) Total Marks: 1Which of the following geographical area is having least interestto U.S. entrepreneurs?Select correct option:EuropeThe Far EastCentral AsiaTransition economieshttp://vugoogle.com62Question No: 1 ( Marks: 1 ) - Please choose oneThere is an evidence that an entrepreneur usually has_______________ parents.Self employedDiscouragedNon supportiveStrictQuestion No: 2 ( Marks: 1 ) - Please choose oneFollowing are the problems in developing the economies EXCEPT:Gap of knowledgeVariable rate of returnSame communication styleDifferent accounting systemQuestion No: 3 ( Marks: 1 ) - Please choose oneWhich of the following techniques is an excellent method for initialscreening of ideas and concepts?Focus grouphttp://vugoogle.com63Problem inventory analysis (Doubtful) page 35Brain stormingReverse brainstormingQuestion No: 4 ( Marks: 1 ) - Please choose one

Which one of the following is the next stage to the Concept Stage ofProduct Planning and Development Process?Idea StageProduct Planning StageProduct Development StageTest Marketing StageQuestion No: 5 ( Marks: 1 ) - Please choose oneWhich of the following is a more structured method of problem solving,including principles and rules for concept formation, makingobservations and experiments, and finally validating the hypothesis?Scientific methodHeuristicsAttribute listingValue analysisQuestion No: 6 ( Marks: 1 ) - Please choose oneWhich of the following is used by entrepreneurs to acquire experiencein an international market before making a major commitment?MergerJoint ventureMinority interesthttp://vugoogle.com64Majority interestQuestion No: 7 ( Marks: 1 ) - Please choose oneWhich of the following plan shows the economically feasibility ofbusiness?BusinessFinancialEconomicMarketingQuestion No: 8 ( Marks: 1 ) - Please choose oneWhat are the number of questions a marketing plan usually answers?5234Question No: 9 ( Marks: 1 ) - Please choose oneWhich of the following allows the entrepreneur to establish controls onthe process during the implementation of the marketing plan?Sales dataResearch dataConsumer dataTechnical data (Doubtful)Question No: 10 ( Marks: 1 ) - Please choose oneWhich of the following shows the characteristic of the venture that hasexperience in related business?

StrengthWeaknessOpportunityThreatQuestion No: 11 ( Marks: 1 ) - Please choose onehttp://vugoogle.com65Advertising and promotion for the business-to-business market involveall of the following EXCEPT:Indirect sales page 59Trade magazine advertisingDirect salesTrade showsQuestion No: 12 ( Marks: 1 ) - Please choose oneWhich of the following shows the characteristic of the venture that hasexperience in related business?StrengthWeaknessOpportunityThreatQuestion No: 13 ( Marks: 1 ) - Please choose oneIn which of the following, banks are usually reluctant to give loan?Sole ProprietorPublic Limited CompaniesPartnership firmPrivate Limited CompaniesQuestion No: 14 ( Marks: 1 ) - Please choose oneIn which of the following majority holds the management control?Partnership page 63CorporationLimited liability companyAll of the given optionsQuestion No: 15 ( Marks: 1 ) - Please choose oneWhich of the following represents the shares in borrowing of LargeEnterprises in Pakistan?68%65%66%67%Question No: 16 ( Marks: 1 ) - Please choose oneWhich of the following represents the environment in whichentrepreneurship can’t grow?BoomVacuumMaturityIntroductory Phase

Question No: 17 ( Marks: 1 ) - Please choose one"What the entrepreneur hopes to accomplish" includes in which sectionof business plan?Vision statementMission StatementGoal StatementAll of the aboveThis should begin with the mission statement or company mission,which describes the nature of the business and what the entrepreneurhopes to accomplish.http://vugoogle.com66Question No: 18 ( Marks: 1 ) - Please choose oneWhich of the following shows the standard acceptable term of aLimited Liability Company?ThreeTenTwentyThirtyQuestion No: 19 ( Marks: 1 ) - Please choose onehttp://vugoogle.com67Which one of the following provides a guideline in determining hiringprocedures?Job descriptionJob specificationJob analysisJob evaluationQuestion No: 20 ( Marks: 1 ) - Please choose oneThe S corporation combines the tax advantages of which one of thefollowing?Proprietorship and limited liability companyPartnership and corporationCorporation and limited liability companyPartnership and proprietorshipQuestion No: 21 ( Marks: 1 ) - Please choose oneWhich of the following is the base of Job Advertisement?Job DescriptionJob SpecificationJob identificationAll of the above optionsQuestion No: 22 ( Marks: 1 ) - Please choose oneWhich of the following shows the results from the difference betweenactual cash receipts and cash payments?RevenueProfitCash flow

Income statementQuestion No: 23 ( Marks: 1 ) - Please choose oneWhat is the primary concern of entrepreneurs, who trade equity fortheir growing venture?ControlValuationInvestor capabilitiesCapitalization page 85http://vugoogle.com68Question No: 24 ( Marks: 1 ) - Please choose oneWhen the business does not have assets to support a loan, theentrepreneur may go for which one of the following options?Character loanStraight commercial loanInstallment loanLong term loanQuestion No: 25 ( Marks: 1 ) - Please choose oneWhich of the following number of years a mortgage loan may possiblycover?102030 Google search40Question No: 26 ( Marks: 1 ) - Please choose oneIn which of the following techniques, money is given to a firm fordeveloping a technology and involves a tax shelter?Small business administration loansCash flow financingSmall business innovation research grantResearch and development limited partnershipQuestion No: 27 ( Marks: 1 ) - Please choose oneThe overall coordinating party in an agreement is:Limited partnerMajor partnerhttp://vugoogle.com69Minor partnerGeneral partnerQuestion No: 28 ( Marks: 1 ) - Please choose oneWhich of the following includes grants from the U.S. government tosmall technology based businesses?Small business administration loansSmall business innovation research grantResearch and development limited partnershipInstallment loansQuestion No: 29 ( Marks: 1 ) - Please choose one

Which of the following is a formalized method for obtaining funds fromprivate investors?Private placementPrivate offeringRegulation DBootstrap financingQuestion No: 30 ( Marks: 1 ) - Please choose oneWhen did the Sindh Small Industries Corporation launch its creditscheme?1972-731978-791988-891992-93Question No: 31 ( Marks: 1 ) - Please choose oneWhich of the following is a type of leverage ratio?Debt ratioNet profit marginReturn on investmentCurrent ratiohttp://vugoogle.com70Question No: 32 ( Marks: 1 ) - Please choose oneThe mean age of entrepreneurial enterprises in Pakistan is:12 years15 years20 years22 yearsQuestion No: 33 ( Marks: 1 ) - Please choose oneIn most cases, the venture capitalist:Seeks control of the companyNever expects a seat on the board of directorsExpects the management team to run the dailyoperations (doubtful)Prefers not to interfere in planning and expertise areasQuestion No: 34 ( Marks: 1 ) - Please choose oneConflicts in Management thoughts and Entrepreneur thoughts areresolved by which of the following company?Xerox page 15UnileverWallsVoltaQuestion No: 35 ( Marks: 1 ) - Please choose oneThe entrepreneur must possess the abilities:CreativeConceptualizationUnderstanding environment

All of the given optionsQuestion No: 36 ( Marks: 1 ) - Please choose oneIn which of the following era entrepreneur enters into a contract withgovernment to perform a service?http://vugoogle.com7120th centuryEarliest periodMiddle ages17th centuryQuestion No: 37 ( Marks: 1 ) - Please choose oneWhich one of the following is a firm that achieves modest growth?High potential growth firmFoundation firmLife stylePublic companyQuestion No: 38 ( Marks: 1 ) - Please choose oneIn entrepreneurial domain the commitment to opportunity has shorttime span but in managerial domain it is:For 1 monthFor 6 monthsFor long time spanFor 1 yearQuestion No: 39 ( Marks: 1 ) - Please choose oneMoral support network includes all of the following EXCEPT:SpousesFriendsBusiness associatesRelativesQuestion No: 40 ( Marks: 1 ) - Please choose oneProfessional support network includes all of the following EXCEPT:Personal affiliationsMentorTrade associationsFriendsQuestion No: 41 ( Marks: 5 )Differentiate the operating budget from capital budget?Question No: 42 ( Marks: 5 )It is said that advertising agencies are meant for the promotionaltools. Why do you think that it is a correct statement?Question No: 43 ( Marks: 10 )An "S Corporation" is a corporation which has elected to have itsprofits pass through to its shareholders, in the same manner as apartnership or sole proprietorship. Write down the pros and cons of "SCorporation".Question No: 44 ( Marks: 10 )

Suppose you want to calculate the net worth of your business. Whatkind of statement will you use in order to calculate the net profit? Alsodiscuss its key feature.Question No: 45 ( Marks: 10 )Product or service is the basis of building the marketing plan. What arethe major factors which should be included while writing the marketingplan of a product or service?1. What causes people to do something?Need for achievementNeed for independenceMotivationNone of the mentioned options2. Individuals who help the entrepreneur in business activitiesRole modelsProfessional-support network

http://vugoogle.com72ParentsNone of the mentioned options3. The managers in an organization strongly supporting intrapreneurship iscalled -----------------------Top management commitmentUpper management commitmentLower management intrapreneurUpper management intrapreneur4. ------------- involves a manufacturer giving a foreign manufacturer theright to use a patent, trademark or technology in return for a royaltyLicensingTurn-key projectsManagement contractsNone of the mentioned options5. Female entrepreneurs differ in terms of --------------------, -----------------------, and ---------------------------MotivationBusiness skillsOccupational background6. In terms of ------------------------------, most entrepreneurs initiate theirentrepreneurial careers between the ages of 22 and 45.Chronological age7. Creativity tends to decrease with age and educationTrueFalse8. Arriving activity occurring when the venture is startedTrueFalsehttp://vugoogle.com739. The creator is an individual who creates something newTrueFalse10. An attribute indicating the sense of control that a person has over life iscalled locus of controlTrueFalse5) In chronological age , most entrepreneurs start their careers between agesa) 22 and 55b) 30 and 55c) 40 and 65d) None of the given options6) ___________________ is the combination of at least two firms doingsimilar businesses at the same market level.a) Diversified activity Merger

b) Horizontal Mergerc) Joint Ventured) Vertical Merger7) Which of the following is NOT recognized as a misconception aboutentrepreneurship?a) Entrepreneurship is found only is small businesses.b) Entrepreneurship is easy.c) Successful entrepreneurship needs only a great idea.d) Entrepreneurial ventures and small businesses are different9) All of the following are recognized as potential sources of entrepreneurial ideasEXCEPT:a) Work experiences, skills, and abilitiesb) Familiar and unfamiliar products and servicesc) Personal interests or hobbiesd) All of the selections are recognized as potential sources of entrepreneurial ideas.

http://vugoogle.com7410) An _______________________ is an individual who creates something for the firsttime, is a highly driven individual motivated by his or her own work and personal ideas.a) Entrepreneurb) Inventorc) Both a and bd) None of the given optionshttp://vugoogle.com75for more contents visithttp://vugoogle.comA patent is granted for a specified amount of time because of the assumption:Select correct option:That during this time firm will cover its development costsThat firm will earn a sufficient profit during this periodTo limit the monopoly of the firmThat it will stimulate idea and development of a better productThe importance of intellectual property should be understood by entrepreneur even before:Select correct option:Hiring a managerEngaging an attorneyDeveloping a productEstablishing new venturefor more contents visithttp://vugoogle.comWhich one of the following is NOT an external factor?Select correct option:New regulationsCompetitionSocial changesManufacturing

http://vugoogle.com76Which one of the Following is the way by which an entrepreneur can enter into internationalbusiness?Select correct option:ExportNon equity arrangementsDirect foreign investmentAll of the given optionsWhich one of the following is NOT a condition of a contract?Select correct option:An offer is madeAn acceptance of offerContract must be illegalConsideration is givenWhich one of the following is a sound strategic option for an entrepreneur when synergy is present?Select correct option:Merger

Joint ventureMinority interestMajority interestfor more contents visithttp://vugoogle.comAn entrepreneur doing business within the national border is called:Select correct option:International entrepreneurshipIntrapreneurshipDomestic entrepreneurshipImportsWhich of the following grants the owner protection from anyone else making, using and selling theidentified innovation?Select correct option:http://vugoogle.com77Utility patentDesign patentPlant patentInternational patentHealth insurance premium is less expensive if there is:Select correct option:One insured participantsTen participantsLarge group of participantsVery small group of participantsWhich one of the following is not a source of idea generation?Select correct option:ConsumersBrain stormingFocus groupNone of the given optionsQuite confusing question Answer RequiredThe product life cycle starts with which stage of product planning and development process?Select correct option:Test marketing stageProduct development stageCommercialization stageProduct planning and development process is a part of product life cycleThe creative process for problem solving that involves making the strange familiar in first step andthen making the familiar strange through personal, direct or symbolic analogy is called:Select correct option:SynecticsGordon methodChecklist methodScientific methodhttp://vugoogle.com78Which of the following geographical area is having least interest to U.S. entrepreneurs?Select correct option:EuropeThe Far EastCentral AsiaTransition economiesfor more contents visithttp://vugoogle.comIn an international perspective, which of the following decisions are NOT covered under strategicplanning of an entrepreneur?Select correct option:What are unique characteristics of each market?Who should be involved in marketing decisions?What customer benefits are provided by the product?What are the company’s major strengths and weaknesses?Which one of the following insurance is required by law?Select correct option:

Life insuranceProperty insuranceDisability and vehicle coverageHealth care coverageWhen the multiplicity of environments become too complex to handle, the internationalentrepreneurs often __________.Select correct option:Go for mergersDiversifyDecentralize operationsSale out the foreign businessfor more contents visithttp://vugoogle.comhttp://vugoogle.com79Which of the following is NOT essential part of the contract?Select correct option:All the parties involved should be namedTransaction should be described in detailObtain signatures of the persons involvedPlace where contract takes place (Page 53)Entrepreneurship(MGT602)Recent Online Quiz No 2Question # 1 of 20 ( Start time: 05:04:17 PM ) Total Marks: 1The creative process for problem solvin that involves makin the stranefamiliar in first step andthen makin the familiar strane throuh personal, direct or symbolic analoy is called:Select correct option:Synecticsordon methodChecklist methodScientific method Bottom of FormQuestion # 2 of 20 ( Start time: 05:05:43 PM ) Total Marks: 1Which of the followin is included in the description of the business?Select correct option:http://vugoogle.com80LocationProducts offeredHistoryAll of the iven optionsQuestion # 3 of 20 ( Start time: 05:06:59 PM ) Total Marks: 1Which of the followin can not be covered under the copyriht protection?Select correct option:Computer softwareComputer hardwarePoems and sonsModels and sculptureQuestion # 8 of 20 ( Start time: 05:10:58 PM ) Total Marks: 1Why should an entrepreneur do a feasibility study?Select correct option:To see if there are possible barriers to successTo identify possible sources of fundsTo estimate the expected salesTo explore potential customersQuestion # 9 of 20 ( Start time: 05:11:23 PM ) Total Marks: 1In an international perspective, which of the followin decisions are NOT coveredunder strateic plannin of an entrepreneur?Select correct option:What are unique characteristics of each market?Who should be involved in marketin decisions?What customer benefits are provided by the product?What are the company’s major strenths and weaknesses?Question # 10 of 20 ( Start time: 05:12:48 PM ) Total Marks: 1All of the followin are essential to maintain secrecy EXCEPT:Select correct option:

Train employees to refer sensitive questions to one personDiscuss business in public places

http://vugoogle.com81Provide escorts for all office visitorsUse simple security such as locked file cabinetsfor more contents visithttp://vugoogle.comQuestion # 11 of 20 ( Start time: 05:14:09 PM ) Total Marks: 1Which one of the followin contracts should be in written?Select correct option:Real estatesLeaseRentalsAll of the iven optionsQuestion # 12 of 20 ( Start time: 05:14:25 PM ) Total Marks: 1Which one of the factors should be considered while assessin the space for business?Select correct option:ParkinAccess from roadways to facilityDelivery ratesAll of the iven optionsQuestion # 13 of 20 ( Start time: 05:15:03 PM ) Total Marks: 1Which of the followin is a more structured method of problem solvin, includin principles and rules forconcept formation, makinobservations and experiments, and finally validatin the hypothesis?Select correct option:Scientific methodHeuristicsAttribute listinValue analysisQuestion # 14 of 20 ( Start time: 05:15:58 PM ) Total Marks: 1The importance of intellectual property should be understood by entrepreneur even before:Select correct option:Hirin a manaerEnain an attorneyDevelopin a producthttp://vugoogle.com82Establishin new ventureQuestion # 15 of 20 ( Start time: 05:17:10 PM ) Total Marks: 1Which of the followin is/are a source of idea eneration?Select correct option:ConsumersFederal overnmentBrain storminAll of the aboveQuestion # 16 of 20 ( Start time: 05:17:51 PM ) Total Marks: 1Idea of new product is tested in potential consumers to determine consumer acceptance at_________ stae.Select correct option:ConceptProduct developmentTest marketinCommercializationQuestion # 17 of 20 ( Start time: 05:18:48 PM ) Total Marks: 1Followin are the types of non equity arranements EXCEPT:Select correct option:LicensinManaement contractsDirect exportTurnkey projectsQuestion # 18 of 20 ( Start time: 05:20:09 PM ) Total Marks: 1Followin are the important aspects of international success EXCEPT:Select correct option:Plannin

DiversificationReportin not sureControlQuestion # 19 of 20 ( Start time: 05:21:40 PM ) Total Marks: 1Health insurance premium is less expensive if there is:http://vugoogle.com83Select correct option:One insured participantsTen participantsLare roup of participantsVery small roup of participantsQuestion # 20 of 20 ( Start time: 05:22:18 PM ) Total Marks: 1The evaluation criteria for the new product should include all of the followin, EXCEPT:Select correct option:Determination of market demandDetermination of the suppliersPricin and marketin policies of other competin firmsProduct should be profitable21) Which one of the following is the next stage to the Concept Stage of Product Planning andDevelopment Process?Idea StageProduct Planning StageProduct Development StageTest Marketing Stage22) Which of the following contains large number of new ideas?Files of Patent officeOfficial GazetteGovernment patent BoardAll of the given option23) According to the governing bodies of common laws, the life of trade secret is:Select correct option:12 years17 years20 yearsAs long as it remains confidential

http://vugoogle.com84MGT602 MCQs From Quizhttp://vugoogle.comThe entrepreneur was distinguished from capital provider in:Select correct option:18th century17th century19th and 20th centuryMiddle agesIndividuals influencing an entrepreneur’s career choice and style are known as:Select correct option:Role modelMoral-support networkhttp://vugoogle.com85Professional support networkSupport systemRef:Role modelsIndividuals influencing an entrepreneur’s career choice and styleThe person with capital was differentiated from the one who needed the capital in the:Select correct option:Middle ages17th century18th century20th centuryRef:In the 18th century the person with capital was differentiated from the one who needed capital. In

other words, entrepreneur was distinguished from the capital provider.Many of the inventions developed during this time as was the case with the inventions of EliWhitney and Thomas Edison were unable to finance invention themselves. Both were capital users(entrepreneurs), not capital providers (venture capitalists.) Whitney used expropriated crownproperty. Edison raised capital from private sources.Which one of the following is the next stage to the Concept Stage of Product Planning andDevelopment Process?Select correct option:Idea StageProduct Planning StageProduct Development StageTest Marketing StageRef:http://vugoogle.com86Concept StageIn the concept stage the refined idea is tested to determine consumer acceptance withoutmanufacturing it. One method of testing is the conversational interview in which respondents areexposed to statements that reflect attributes of the product. Features, price, and promotion shouldbe evaluated in comparison to major competitors to indicate deficiencies or benefits. The relativeadvantages of the new product versus competitors should be determined.Product Development StageIn this stage, consumer reaction is determined, often through a consumer panel. The panel can begiven samples of the product and competitors’ products to determine consumer preference.Participants keep the record of their use of product and comment on its virtues and deficiencies.It is proved that most businesses failed because of improper planning of an/a:Select correct option:InvestorMarketerEntrepreneurConsultantRef:Bankers say that most businesses fail because of theentrepreneur’s inability to plan effectively. The entrepreneur can enhance efficientWhy should an entrepreneur do a feasibility study?Select correct option:To see if there are possible barriers to successTo identify possible sources of fundsTo estimate the expected salesTo explore potential customersRef:http://vugoogle.com87Before preparing a business plan, the entrepreneur should do a quick feasibility study to see if thereare possible barriers to successWhich of the following is NOT part of entrepreneurial strategy?Select correct option:A feedback loopGeneration of a new entry opportunityExpansion of an existing opportunityExploitation of a new entry opportunityRef:http://highered.mcgraw-hill.com/sites/0073210560/student_view0/chapters13/mixed_quiz.htmlfor more contents visithttp://vugoogle.comThe long-term future of the new venture depends on the __________.Select correct option:Positive Cash flowEmployees loyaltyBusiness ideashttp://vugoogle.com88EconomyAn ice cream producing company merges with a cotton spinning company this merger is an exampleof:

Select correct option:Diversified activity mergerProduct extension mergerMarket extension mergerVertical mergerRef:A diversified activity merger is a conglomerate merger involving the consolidation of two unrelatedfirms.Banks are usually reluctant to give loan to theSelect correct option:Private Limited CompaniesPartnership firmPublic Limited CompaniesSole ProprietorFollowing are the types of foreign direct investment EXCEPT:Select correct option:Joint ventureManagement contractsMinority interestMergerhttp://vugoogle.com89Ref:Management contractsEntrepreneurs can contract their management techniques and skills, often following a turn-keyproject. The management contract allows the purchasing country to gain foreign expertise withoutturning ownership over to a foreignerLicensing is a significant marketing strategy to:Select correct option:Use intellectual property of othersPirate others’ patentsGrow the business in new marketsControl the costsRef:LICENSING Licensing is an arrangement between two parties, where one party has proprietaryrights protected by a patent, trademark, or copyright. This requires the licensee to pay a royalty tothe holder of the proprietary rights in return for permission to copy theThe entrepreneur utilizes the resources through:Select correct option:Identifying and evaluating the opportunityDeveloping a business planImplementing the business planManage the enterpriseWhich one of the following culture that has a climate and reward system that favor conservativedecision making?Select correct option:Entrepreneurialhttp://vugoogle.com90IntrapreneurialCorporateNone of the given optionsRef:The typical corporate culture has a climate and reward system that favors conservative decisionmaking. Emphasis is on gathering large amounts of data as the basis for a rational decision. Riskydecisions are often postponed until hard facts are gathered or a consultant is hired. Often there areso many approvals required that no individual feels personally responsible for theWhich one of the following is the first step in the entrepreneurial process?Select correct option:Developing successful business ideasDeciding to become an entrepreneurGrowing the entrepreneurial firmMoving from an idea to an entrepreneurial firmAccording to the governing bodies of common laws, the life of trade secret is:Select correct option:

12 years17 years20 yearsAs long as it remains confidentialThe most important characteristic of a successful business website is::Select correct option:Speed

http://vugoogle.com91InnovationGraphicsProductsWhich of the following cannot be used as basis of loan?Select correct option:Worth of the businessInventoryFixed assetAll of the aboveDeveloping a new idea through inquiry and testing is called:Select correct option:HeuristicsForced relationshipScientific methodValue analysisProfessional support network includes following EXCEPTSelect correct option:Personal affiliationsMentorTrade associationsFriendsWhich one of the following is not a source of idea generation?Select correct option:ConsumersBrain stormingFocus groupNone of the given optionsWhich of the following is NOT a requirement of Disclosure Document?Select correct option:Description of the inventionhttp://vugoogle.com92Claims for invention’s usefulnessPhotos of inventionCover letterWhich one of the following is a sound strategic option for an entrepreneur when synergy is present?Select correct option:MergerJoint ventureMinority interestMajority interestRef:Two firms get together and form a third company in which they share the equity. Joint ventureshave been used by entrepreneurs in two situations:1. When the entrepreneur wants to purchase local knowledge and an established facility.2. When rapid entry into a market it needed. The keys to success of joint ventures have not beenwell understood. Reasons for forming a joint venture today are different than those in the past.Originally, joint ventures were used for trading purposes and were one of the oldest ways oftransacting business. Joint ventures in the U.S. took the form of vertical joint ventures used bymining concerns and railroads. Motives for the significant increase in the use of joint ventures:a. To share the costs and risks of an uncertain project.b. ToTo gain synergy between the two firms.Which of the following conversion system is most complex and requires careful evaluation ofinventory?Select correct option:FIFO to LIFO

LIFO to FIFOSingle entry to double entryDouble entry to single entryIn stage of responsibility allocation process the entrepreneur follows:Select correct option:http://vugoogle.com93Highly centralized decision making processHighly decentralized decision making processSomewhat centralized decision making processNo particular standardGovernment can help in forming new venture by providing:Select correct option:FinanceTechnologyInfrastructureSubsidiariesRef:The government also contributes by providing the infrastructure to help a new venture.In which of the following business, the records are needed to be maintained on the basis of monthlycharges paid by the customers?Select correct option:PharmaceuticalService ventureOnline ventureAuto industryWhich of the following budget is required for the purchase of new equipment?Select correct option:Sales BudgetOperational Budgethttp://vugoogle.com94Capital BudgetManufacturing BudgetRef:A capital budget may project expenditures for new equipment, vehicles, or new facilitiesThere is an evidence that an entrepreneur usually has _______________ parents.Select correct option:Self employedDiscouragedNon supportiveStrictWhich of the following is NOT followed in brainstorming?Select correct option:Criticism is done by the group membersThe wilder idea is betterQuantity of ideas is requiredThe session should be fun, with no on dominating the discussionThe ______ plan describes how the product will be distributed and priced.Select correct option:FinancialProductionhttp://vugoogle.com95VentureMarketingWhich one the following is the uncontrollable factor in international trade?Select correct option:EconomicCulturalTechnologicalAll of the given optionsDegree of influence and control on other people is called:Select correct option:Locus of control

Locomotion of controlLocust of controlLoss of controlLenders are primarily interested in the:Select correct option:Personal relationshipAbility to pay back loanProgress of the ventureNo concernFoundation companies are formed from:http://vugoogle.com96Select correct option:FashionMost popular businessA winding up companyResearch and developmentWhich one of the following ratios is a more careful test of the short-term liquidity of the venture?Select correct option:Debt ratioActivity ratioAcid test ratioProfitability ratioRef:Acid test ratio is a more rigorous test of the short-term liquidity of the ventureWhich of the following gives the owners a negative right, preventing anyone from making, using, orselling the invention?Select correct option:PatentCopyrightTrade markTrade secretWhich of the following contains all backup material that is not included in the text of business plan?Select correct option:History of entrepreneurhttp://vugoogle.com97Financial planAppendixBibliographyThe commitment of administrative domain to the resources is for:Select correct option:Periodic intervalsTotal amount neededFor certain tasksFor long timeWhen the Directorate of Industries, Balochistan was formed?Select correct option:1972197319751976Which of the following is the best option for starting the business with equity financing?Select correct option:Sole ProprietorCorporationPartnership firmNone of the aboveWhich of the following contains large number of new ideas?Select correct option:http://vugoogle.com98Files of Patent officeOfficial GazetteGovernment patent Board

All of the given optionhttp://vugoogle.comWhat can be the effect on cash flows due to delays in payments by the clients?Select correct option:Positive cash flowsNegative cash flowsNo effect on cash flowshttp://vugoogle.com99None of the given optionsRef:Using internal credit makes the firm responsible for collecting delinquent payments, and paymentdelays can create negative cash flows.All of the following are essential to maintain secrecy EXCEPT:Select correct option:Train employees to refer sensitive questions to one personDiscuss business in public placesProvide escorts for all office visitorsUse simple security such as locked file cabinetsAndrew Carnegie is an example of entrepreneur of which century:Select correct option:Earliest period19th and 20th centuryMiddle ages17th centuryThe assessment of the needed resources by the entrepreneur starts with:Select correct option:An appraisal of the entrepreneur’s present resourcesAn assessment of economic conditions of the countryA scanning of friends and family for funds

http://vugoogle.com100A survey of banks and other financial institutions in the areaA typical inventor is usually ________________________.Select correct option:Highly creative & in love with the inventionDoes not encourage changeWilling to modify the invention in order to augment commercial benefitNone of the given optionsThe activity which occurs when the new venture is started are called:Select correct option:MotivationBusiness skillsDeparture pointGoal orientationWhich statement of the following relates with the ultimate goal of BusinessSelect correct option:Profit StatementGoal StatementMission StatementVision StatemenWhich one of the following is the systematic assembly of all the facts about a job?Select correct option:http://vugoogle.com101Job SpecificationJob DescriptionJob IdentificationJob Analysis___________ is required if a company wants to be more flexible in adopting changes.Select correct option:Management commitmentContact with customersTechnologyMore productivity

In which rule under ‘Regulation-D’, a company can sell up to $500,000 of securities to any numberof investors in any 12-month period?Select correct option:Rule 502Rule 503Rule 504Rule 505Ref:Under Rule 504 a company can sell up to $500,000 of securities to any number of investors in any12-month period.__________ is commonly used to measure the short-term solvency of the venture?Select correct option:Debt to equity ratioCurrent ratioProfitability ratiohttp://vugoogle.com102Activity ratioRef:Liquidity Ratios Current ratio is commonly used to measure the short-term solvency of the ventureor its ability to meet its short-term debts. The current liabilities must be covered from cash or itsequivalentOn the part of entrepreneur which of the following has/ have a great concern to the InvestorsSelect correct option:ExperienceCommitmentKnowledgeAll of the aboveBeing one’s own boss is a need of:Select correct option:IndependenceAchievementAffiliationAuthorityRef:Need for independence. Being one’s own boss-one of the strongest needs of an entrepreneurAn actor and a person who managed large project were termed as the entrepreneur in the_________.Select correct option:Earliest periodMiddle ages17th century19th and 20th centuryRef:Middle AgesIn this age the term entrepreneur was used to describe both an actor and a person who managedlarge production projects. In such large production projects, this person did not take any risks,managing the project with the resources provided. A typical entrepreneur was the cleric whomanaged architectural projects.http://vugoogle.com103for more contents visithttp://vugoogle.comThe evaluation criteria for the new product should include all of the following, EXCEPT:Select correct option:Determination of market demandDetermination of the suppliersPricing and marketing policies of other competing firmsProduct should be profitableThe business plan should be prepared by:Select correct option:EntrepreneursConsultantsEngineersSmall business administration services

Ref:A business plan is a written document prepared by the entrepreneur________________ distribute profits to owners through dividendsSelect correct option:Sole ProprietorGeneral PartnershipLimited PartnershipCorporationRef:Corporations distribute profits through dividends to stockholders.http://vugoogle.com104Which of the following shows the example of collateral?Select correct option:Real StateSharesTangible propertyAll of the given optionsRef:The collateral or tangible assets being securedWhich one of the following culture that has a climate and reward system that favor conservativedecision making?Select correct option:EntrepreneurialIntrapreneurialCorporateNone of the given optionsRef:The typical corporate culture has a climate and reward system that favors conservative decisionmaking.___________ is required if a company wants to be more flexible in adopting changes.Select correct optionManagement commitmentContact with customersTechnologyMore productivityRef:Without top management commitment, the organization will never be able to make the necessarychanges.When the multiplicity of environments become too complex to handle, the internationalentrepreneurs often __________.Select correct option:Go for mergersDiversifyDecentralize operationsSale out the foreign businessfor more contents visithttp://vugoogle.com1. In brainstormingNo criticism is allowedQuantity of ideas is desiredNone of the mentioned optionsBoth of the mentioned options2. A technique that asks questions about objects or ideas in aneffort to develop a new idea isHeuristicsMatrix chartingForced relationshipsAttribute listing3. The solution development isBig-Dream approachParameter AnalysisCreative synthesis

None of the above4. Perceived benefits /risks involve the following factors:http://vugoogle.com105Utility to customerConsumption habitsBuying motivesAll of the above5. A patent isA document between government and an inventorGrants holder protection from others making, using, orselling similar ideaA public domainNone of the above6. -------------------------------------------- uses individuals in amanner that is analogous to focus groups to generate new productideas.Problem inventory analysis7. A ----------------------------- leads a group of people throughan open, in-depth discussion.Moderator8. -----------------------------, --------------------------- and ----------------------------- should be evaluated fro both the concept beingstudied and any major competing products.Features, price, and promotion9. In evaluation process, the -----------------------------------------------, provides actual sales results, which indicate theacceptance level of consumers.Test marketing stagehttp://vugoogle.com10610. The ------------------------------------- technique developsmethods for maximizing value to the entrepreneur and the newventure.Value analysis

Entrepreneurship(MGT 602)Quiz 031. Marketing mix includes:Product or serviceFinancingConsumerRetailer2. Which of the following statement is true for tax advantage ofproprietorship?There is double tax on profitsThere is no capital stock tax or penalty for re tained earningsBoth of the options givenNone of the options given3. Industry analysis should include information on:Market size of competitor’s productGrowth rate of suppliersNew products entryhttp://vugoogle.com107Economic conditions4. We need to update the business plan because…………Environmental factors and internal factors can change the

direction of the planGoals set by the entrepreneurs may be unreasonable.Goals may not be measurable.Goals may not be specific5. Marketing research involves the gathering of data in orderto determine information as:Who will buy the product?What price should be charged?What is the most effective promotion strategy?All of the mentioned options6. The marketing plan describes how the products will bedistributed, priced, and promoted?TrueFalse7. The marketing plan should be a superficial document.TrueFalse8. The LLC is similar to an S corporation, but is more flexiblehttp://vugoogle.com108TrueFalse9. The entrepreneur should have a good idea of who thecustomer or target market will be:TrueFalse10. The organizational plan section should not describe theventure’s form of ownershipTrueFalse

Entrepreneurship(MGT 602)Quiz 041. The most often used type of funds isInter nally gener ated fundsExternally generated fundsCommercial bank fundsNone of the mentioned options2. Which of the following is not type of Bank Loans?Inventory loansAccounts payable loansEquipment loanshttp://vugoogle.com109Real estate loans3. Conventional bank loans include:Lines of creditIn stallment loansStraight com mercial loansAll of the mentioned options4. When an entrepreneur is unable to secure a regular commercial bank loan, an alternative is a:Small and medium enterprise loanCharacter loanSmall Business Ad ministration (SBA) Guaranty LoanEquipment loan5. Installment loans can be obtained by a going ven ture with a trackrecord of:

Sales and profitsCustomersSupplier’s chainAll of the mentioned options6. The financial plan provides the long term basis forbudgeting and helps prevent a common problem-lack of cash.TrueFalsehttp://vugoogle.com1107. Cash flow is not the same as profitTrueFalse8. The most often used type of funds is inter nally gener ated fundsTrueFalse9. Inventory is often a basis for a loan, par ticularly when inventory is notliquidTrueFalse10. The loan application format is generally a "mini" busi ness planTrueFalse1. One effective way to begin the marketing plan isa. To make a list of the information that will beneeded to prepare the marketing plan.b.Gathering Data from Secondary Sourcesc. Gathering Information from Primary Sources.d. None of the options given2. A focus grouphttp://vugoogle.com111a. Is a sample of 10 or 12 potential investors whoparticipate in a discussion?b.Is a sample of 10 or 12 potential employees whoparticipate in a discussion?c. Is a sample of 10 or 12 potential customerswho participate in a discussion?d. None of the options given3. The situation analysis isa. Defining Target Market/Opportunities and Threats.b. Considering Strengths and Weaknessesc. A review of where the com pany has been andconsiders envi ronmental factors.d. None of the options given4. One of the difficult decisionsa. Is about the distribution of the productb.Is determining the appropriate price for theproduct.c. Is about the promotion of the productd. None of the options given5. Which of the following statement is true for marketing system?

a. It is all about the internal envoi mental factorshttp://vugoogle.com112b. It identifies the major interacting components,both internal and externalc. It’s about the financial needs of the ventured. None of the options given6. In setting marketing goals and objectives theentrepreneur musta. Set the priceb. Distribution placec. Must satisfy customersd. None of the above7. The financial plan provides a complete picture ofa. How much and when the funds are coming intothe organization.b. Where the funds are going.c. How much cash is available?d. Al of the options given8. Before developing the pro forma incomestatement, the entrepreneur shoulda. Prepare operating budgetsb. Capital budgets.c. None of the options givend. Both of the options given (a,b)9. Which of the following statement is true?a. Cash flow is same as profit.http://vugoogle.com113b. Profit is the result of subtracting expensesfrom sales.c. Cash flow results from the difference between allcash available and cash pay ments.d. Cash flows only when actual payments are notmade but only received.10. Which of the statement is not true?a. The S Corporation combines the tax advantages ofthe partnership and the corporation.b.S Corporations represent almost half of all corporatefil ings.c. A popular new entity is the limited liabilitycompany (LLC)d. Limited liability Company (LLC) offers similardisadvantages as the S Corpora tion1. Any patents, trademarks , copyright or trade secrets held by the entrepreneur isknown as1. Disclosure document2. Patent

3. Intellectual property4. None of the mentioned5.6. 2. The organization will never be able to make the necessary changeswithout_________1. Top management commitment2. Employees3. Workershttp://vugoogle.com1144. None of the mentioned3. The ways entrepreneurs make decisions.1. Entrepreneurial domain.2. Reverse brain storming3. Heuristics4. d.Reverse brain storming5.5. A word, symbol, name or device that a business uses to identify its goods.1. A legal protection for information on foreign products.2. Legal protection for intellectual works.3. Legal protection for a U.S. product exported to another country4.5.6. 6. locus of control is1. A feeling2. Attitude3. Attribute4. None of the above5.6. 7 Licensing arrangements have1. Low risk process involved2. Easy way to generate incremental income3. Several pitfalls4. All of the above5.6.7. 8. Personal characteristics to be a successful entrepreneur includes1. Understanding environment2. Creating management optionshttp://vugoogle.com1153. Encourage open discussion4. All of the above5.6.7. 9.International entrepreneurship is1. Licensing2. Exporting3. Both of the mentioned options4. None of the two mentionedWhich of the following is not a characteristic that is helpful for an entrepreneur to have?a. Self-esteemb. Cautionc. Drived. Optimism10.Hindrance for going in the international business is known as1. Synergy2. Turn key point3. Trade barrier

4. Minority interest1. Any patents, trademarks , copyright or trade secrets held by the entrepreneur isknown as1. Disclosure document2. Patent3. Intellectual property4. None of the mentioned5.6. 2. The organization will never be able to make the necessary changeswithout_________1. Top management commitmenthttp://vugoogle.com1162. Employees3. Workers4. None of the mentioned3. The ways entrepreneurs make decisions.1. Entrepreneurial domain.2. Reverse brain storming3. Heuristics4. d.Reverse brain storming5.5. A word, symbol, name or device that a business uses to identify its goods.1. A legal protection for information on foreign products.2. Legal protection for intellectual works.3. Legal protection for a U.S. product exported to another country4.5.6. 6. locus of control is1. A feeling2. Attitude3. Attribute4. None of the above5.6. 7 Licensing arrangements have1. Low risk process involved2. Easy way to generate incremental income3. Several pitfalls4. All of the above5.6.http://vugoogle.com1177. 8. Personal characteristics to be a successful entrepreneur includes1. Understanding environment2. Creating management options3. Encourage open discussion4. All of the above5.6.7. 9.International entrepreneurship is1. Licensing2. Exporting3. Both of the mentioned options4. None of the two mentionedWhich of the following is not a characteristic that is helpful for an entrepreneur to have?a. Self-esteemb. Cautionc. Drive

d. Optimism10.Hindrance for going in the international business is known as1. Synergy2. Turn key point3. Trade barrier4. Minority interesthttp://vugoogle.com118LLC is more flexible thanSelect correct option:S CorporationLimited PartnershipSole Proprietorhttp://vugoogle.com119All of the aboveLimited liability corporations are still more flexible than the S corporation, but conversion entails a significantcost. More than half of all S corporations haveWhich of the following is alternatively called corporate venturing?Select correct option:EntrepreneurshipIntrapreneurshipAct of stating a new ventureOffering new products by an existing companyWhich of the following areas are preferred by women entrepreneurs?Select correct option:AdministrationUtilitiesManufacturingNone of the aboveBeing one’s own boss is a need of:Select correct option:http://vugoogle.com120IndependenceAchievementAffiliationAuthorityhttp://vugoogle.comA typical inventor is usually ________________________.Select correct option:Highly creative & in love with the inventionDoes not encourage changeWilling to modify the invention in order to augment commercial benefitNone of the given optionsuestion # 5 of 10 ( Start time: 03:25:10 PM )In some countries, point of purchase displays are not allowed in retail stores. Such differences

under __________ environment.Select correct option:EconomicPoliticalCulturalTechnologicalhttp://vugoogle.com121The difference in the entrepreneurial and managerial domains has contributed towards an increaseSelect correct option:Forming new firmsPartnershipIntrapreneurshipPrivate firmsDegree of influence and control on other people is called:Select correct option:http://vugoogle.comLocus of controlLocomotion of controlLocust of controlLoss of controlWhich one of the following is NOT the problem in developing the economies of different under deveOuntry .Select correct option:Gap of knowledgeVariable rate of returnSame communication styleDifferent accounting systemWhich of the following statements about the intrepreneurial climate is (are) true?http://vugoogle.com122Select correct option:Trial and error are discouraged.Resources of the firm need to be available and easily accessibleA multidisciplinary approach is discouraged.Failures are not allowedWhich of the following firm achieves modest growth:Select correct option:High potential growth firmFoundation firmLife stylePublic companyThe chief motivational factor for _________________ entrepreneurs to leave jobs is the frustration

of which they are capable.Select correct option:http://vugoogle.comMaleFemaleYoungAll of the given optionIn some countries, point of purchase displays are not allowed in retail stores. Such differenceshttp://vugoogle.com123under __________ environment.Select correct option:EconomicPoliticalCulturalTechnologicalWhich of the following factors has allowed small companies to act like they are big ones?Select correct option:CompetitionEconomic developmentTechnologyCustomersThe entrepreneur was distinguished from capital provider in:Select correct option:18th century17th century19th and 20th centuryMiddle agesGazelles are the firms with:http://vugoogle.com124Select correct option:High growth rateModerate growth rateZero% growth rateLow growth rateFemale entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:Select correct option:MotivationBusiness skillsDeparture pointGoal orientationThe activity which occurs when the new venture is started are called:Select correct option:

MotivationBusiness skillsDeparture pointGoal orientationFoundation companies are formed from:Select correct option:FashionMost popular businessA winding up companyResearch and developmentFollowing are the types of non equity arrangements EXCEPT:Select correct option:http://vugoogle.comLicensingManagement contractsDirect exportTurnkey projectsWhich of the following areas are preferred by women entrepreneurs?Select correct option:AdministrationUtilitiesManufacturingNone of the abovehttp://vugoogle.com125___________ is required if a company wants to be more flexible in adoptingchanges.Management commitmentContact with customersTechnologyMore productivityWhich one of the following is the fourth step in the entrepreneurial process?Developing successful business ideasDeciding to become an entrepreneurGrowing the entrepreneurial firmMoving from an idea to an entrepreneurial firmMoral support network includes following EXCEPT:SpousesFriendsBusiness associatesRelativesMoral-support networkWhen the multiplicity of environments become too complex to handle, the

international entrepreneurs often __________.Go for mergersDiversifyDecentralize operationsSale out the foreign businessThe activity which occurs when the new venture is started are called:MotivationBusiness skillshttp://vugoogle.com126Departure pointGoal orientationIndividuals influencing an entrepreneur’s career choice and style are known as:Role modelMoral-support networkProfessional support networkSupport systemProfessional support network includes following EXCEPT:Personal affiliationsMentorTrade associationsFriendsWhich of the following receives highest investment?High potential ventureFoundation firmLife stylePublic companyAn entrepreneur doing business within the national border is called:Select correct option:International entrepreneurshipIntrapreneurshipDomestic entrepreneurshipImportsAll of the following are the broad categories of External forces EXCEPT:http://vugoogle.com127Select correct option:Economic forcesSocioeconomic forces (doubted)Technological forcesCompetitive forcesQuestion # 3 of 10 ( Start time: 05:23:29 PM ) Total Marks: 1Which one of the Following is the way by which an entrepreneur can enter intointernational business?Select correct option:

ExportNon equity arrangementsDirect foreign investmentAll of the given optionsQuestion # 4 of 10 ( Start time: 05:24:19 PM ) Total Marks: 1Which one of the following system is necessary for expansion and elimination ofintrapreneurial units?Select correct option:ManagementEvaluationRewardTraininghttp://vugoogle.comQuestion # 5 of 10 ( Start time: 05:25:05 PM ) Total Marks: 1In stage of responsibility allocation process the entrepreneur follows:Select correct option:Highly centralized decision making processhttp://vugoogle.com128Highly decentralized decision making processSomewhat centralized decision making processNo particular standardQuestion # 6 of 10 ( Start time: 05:25:58 PM ) Total Marks: 1An entrepreneur into the hosiery business found out the reason his hosiery wasnot selling was due to its color. What could be the best source of thisinformation?Select correct option:SupplierRetailerCompetitionGovernment bureauQuestion # 7 of 10 ( Start time: 05:27:01 PM ) Total Marks: 1Which one of the following is a barriers to new product creation anddevelopment?Select correct option:Trial and errorOpportunity parameterOpportunity costIntrapreneurship cultureQuestion # 8 of 10 ( Start time: 05:27:43 PM ) Total Marks: 1The difference between the value of a country’s imports and exports over time iscalled:Select correct option:

Deficit exportsDeficit importsBalance of paymentBalance of debthttp://vugoogle.com129Question # 9 of 10 ( Start time: 05:28:15 PM ) Total Marks: 1Moral support network includes following EXCEPT:Select correct option:SpousesFriendsBusiness associatesRelativesQuestion # 10 of 10 ( Start time: 05:28:50 PM ) Total Marks: 1Selling goods to another country through a person in the entrepreneur’s homecountry is known as:Select correct option:TradingDirect exportIndirect exportDomestic salesThe intersection of knowledge and a recognized social need to start a productdevelopment process is called:Select correct option:Iterative synthesisProduct-evolution processOrdinary innovationSituation analysishttp://vugoogle.com130In stage of responsibility allocation process the entrepreneur follows:Select correct option:http://vugoogle.com131Highly centralized decision making processHighly decentralized decision making processSomewhat centralized decision making processNo particular standardGovernment can help in forming new venture by providing:Select correct option:FinanceTechnologyInfrastructureSubsidiariesAn entrepreneur is a person who is a:Select correct option:

http://vugoogle.comRisk takerInitiatorActorAll of the given optionsWhich one of the Following is the way by which an entrepreneur can enter intointernational business?Select correct option:http://vugoogle.com132ExportNon equity arrangementsDirect foreign investmentAll of the given optionsQuestion # 6 of 10 ( Start time: 05:51:53 PM ) Total Marks:Being one’s own boss is a need of:Select correct option:IndependenceAchievementAffiliationAuthorityWhich of the following has a contradictory relationship with an individual for being an entrepreneur?Select correct option:His birth orderParents’ social statusParents’ occupationRelationship with parentsQuestion # 8 of 10 ( Start time: 05:54:08 PM ) Total Marks:Which one of the following is a barriers to new product creation and development?http://vugoogle.com133Select correct option:Trial and errorOpportunity parameterOpportunity costIntrapreneurship cultureQuestion # 9 of 10 ( Start time: 05:55:31 PM ) Total Marks:Degree of influence and control on other people is called:Select correct option:Locus of controlLocomotion of controlLocust of controlLoss of control

Which of the following factors does not affect a person for being an entrepreneur?Select correct option:Work historyNationalityEducationPersonal valuesWhich one the following is the uncontrollable factor in international trade?http://vugoogle.com134Select correct option:EconomicCulturalTechnologicalAll of the given optionsQuestion # 2 of 10 ( Start time: 06:01:11 PM ) Total Marks:Professional support network includes following EXCEPT:Select correct option:Personal affiliationsMentorTrade associationsFriendshttp://vugoogle.comWhen the multiplicity of environments become too complex to handle, the international entrepreneuSelect correct option:Go for mergersDiversifyDecentralize operationsSale out the foreign businesshttp://vugoogle.com135External forces directly affect all of the following EXCEPT:Select correct option:Market segmentation strategiesTypes of products/services offeredManagement structure of organizationChoice of businesses to acquire or sellFoundation companies are formed from:Select correct option:FashionMost popular businessA winding up companyResearch and developmentQuestion # 6 of 10 ( Start time: 06:05:36 PM ) Total Marks:The resources acquired from others(creditors, banks etc) are usually:

Select correct option:Easily availableDifficult to obtainVery usefulVery cheaphttp://vugoogle.com136A typical inventor is usually ________________________.Select correct option:Highly creative & in love with the inventionDoes not encourage changeWilling to modify the invention in order to augment commercial benefitNone of the given optionsWhich one of the following is a firm that achieves modest growth?Select correct option:High potential growth firmFoundation firmLife stylePublic company___________ is required if a company wants to be more flexible in adopting changes.Select correct option:Management commitmentContact with customersTechnologyMore productivityWhich one of the following system is necessary for expansion and elimination of intrapreneurial uniSelect correct option:ManagementEvaluationRewardTraininghttp://vugoogle.com1-Writing business plan can ensure thata) 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 yourbusiness definition and your competitive advantagea) Target market analysisb) Mission statementc) Values statementd) Business plan3-High-potential ventures area) Ventures that have high growth potential and therefore receive greatinvestor's interestb) Very low growth venture

c) Small ventures that support the owners and usually do not growd) None of the mentioned options4-Inner control (discipline), risk taking, innovativeness, change oriented personalityarea) Business management skillshttp://vugoogle.com137b) Technical skillsc) Personal entrepreneurial skillsd) None of the mentioned options5-Proactiveness includesa) Initiative takingb) Risk takingc) Competitive aggressivenessd) All of the mentioned options6-Some of the world's greatest entrepreneurs have overcome challenges from theirchildhood and youth, including:a) Learning disabilitiesb) Extreme povertyc) Abused) All of the mentioned options7-Entrepreneurs view change asa) An opportunityb) An inevitable situationc) A problemd) None of the above options8-Profit is a sign that an entrepreneur has added value to the “scarce” ________that he or she is using.a) Resourcesb) Employeesc) Goodsd) Ideas9-Breakthrough innovations area) A new product with just physical changeb) A new product with some technological changec) Same product with some technological changed) None of the mentioned optionshttp://vugoogle.com1381-Combination of at least two firms doing similar businesses at the same level is:Horizontal MergerVertical MergerProduct Extension MergerDiversified Activity Merger2-A ______________ is an entity formed between two or more parties to undertakeeconomic activity together.Indirect ExportingJoint VentureLicensingEntrepreneurship3-Combination of at least two firms at different market levels is:Horizontal MergerVertical MergerProduct Extension MergerDiversified Activity Merger-____________ is a method of developing new ideas when the individuals are

unaware of the problem.Checklist MethodFree Association MethodGordon MethodScientific Method5-A spirit of entrepreneurs must be:Ethically influencedManagerialVoluntaryNone of the given option6-Most of the innovations are:Iterative Synthesishttp://vugoogle.com139Ordinary InnovationTechnological innovationsBreakthrough innovations7-The _________________ refers to the ways managers make decisions.Administrative domainEntrepreneurial domainIntrapreneurial domainAll of the given options8-Without _______________ , the organization will never be able to make thenecessary Changes.Lower ManagementTop ManagementMiddle ManagementNone of the given options9-The companies use the technology to make itself:Faster and FlexibleFaster and StiffInflexible and rigidAll of the given options10-The___________________ is the term used to describe the complete processof bringing a new product or service to market.Idea StageConcept StageProduct DevelopmentTest Marketing StageRef: http://en.wikipedia.org/wiki/New_product_developmentIn business and engineering, new product development (NPD) is the term used todescribe the complete process of bringing a new product or service to market. ...http://vugoogle.com140Which of the following areas are preferred by women entrepreneurs?► Administration► Utilities► Manufacturing► None of the aboveDegree of influence and control on other people is called:► Locus of control► Locomotion of control► Locust of control► Loss of controlIndividuals influencing an entrepreneur’s career choice and style are known as whichof the following?

► Role model► Moral-support network► Professional support network► Support systemThe activity which occurs when the new venture is started is called:► Motivation► Business skills► Departure point► Goal orientationWhat is the process by which individuals pursue opportunities without regard toresources they currently control?► Startup management► Entrepreneurship► Financial analysis► Feasibility planningWhich one of the following is the process of entrepreneurs developing new productsthat over time make current products obsolete?http://vugoogle.com141► New business model► Anatomization► Creative destruction► None of the given optionsWhich of the following shows the process of creating something new?► Business model► Modeling► Innovation► Creative flexibilityWhich of the following factors is the most important in forcing U.S companies tofocus on new product development and increased productivity?► Entrepreneurship► Hyper competition► Governmental laws► Organizational cultureThere is an evidence that an entrepreneur usually has _______________ parents.Self employedDiscouragedNon supportiveStrictFollowing are the problems in developing the economies EXCEPT:Gap of knowledgeVariable rate of returnSame communication styleDifferent accounting systemWhich of the following techniques is an excellent method for initial screening of ideasand concepts?Focus grouphttp://vugoogle.com142Problem inventory analysisBrain stormingReverse brainstormingBrainstormingThe first technique, brainstorming, is probably the most well known and widely usedfor both creative problem solving and idea generation. It is an unstructured processfor generating all possible ideas about a problem within a limited time frame through

the spontaneous contribution of participants.Which one of the following is the next stage to the Concept Stage of ProductPlanning and Development Process?Idea StageProduct Planning StageProduct Development StageTest Marketing StageProduct planning and development processGenerally divided into five major stages: idea stage, concept stage, productdevelopment stage, test marketing stage, test marketing stage, andcommercialization stageWhich of the following is a more structured method of problem solving, includingprinciples and rules for concept formation, making observations and experiments,and finally validating the hypothesis?Scientific methodHeuristicsAttribute listingValue analysisScientific methodThis is a more structured method of problem solving, including principles and rulesfor concept formation, making observations and experiments, and finally validatingthe hypothesis.http://vugoogle.com143Which of the following is used by entrepreneurs to acquire experience in aninternational market before making a major commitment?MergerJoint ventureMinority interestMajority interestWhich of the following plan shows the economically feasibility of business?BusinessFinancialEconomicMarketingWhat are the number of questions a marketing plan usually answers?52341=What business are you in? 2=What are the priorities for the growth of yourbusiness? 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 canyou take immediately to improve the effectiveness of your business marketing?Which of the following allows the entrepreneur to establish controls on the processduring the implementation of the marketing plan?Sales dataResearch dataConsumer dataTechnical dataWhich of the following shows the characteristic of the venture that has experience inrelated business?StrengthWeaknessOpportunityThreat

Advertising and promotion for the business-to-business market involve all of thefollowing EXCEPT:http://vugoogle.com144Indirect salesTrade magazine advertisingDirect salesTrade showsWhich of the following shows the characteristic of the venture that has experience inrelated business?StrengthWeaknessOpportunityThreatIn which of the following, banks are usually reluctant to give loan?Sole ProprietorPublic Limited CompaniesPartnership firmPrivate Limited CompaniesIn which of the following majority holds the management control?PartnershipCorporationLimited liability companyAll of the given optionsWhich of the following represents the environment in which entrepreneurship can’tgrow?Boomhttp://vugoogle.com145VacuumMaturityIntroductory PhaseIts correct answer is "vacuum" because rest three are not environment rather theseare 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 businessplan?Vision statementMission StatementGoal StatementAll of the aboveThe description of the venture should be detailed in this section. This should beginwith the mission statement or company mission, which describes the nature of thebusiness and what the entrepreneur hopes to accomplish.Which of the following shows the standard acceptable term of a Limited LiabilityCompany?ThreeTenTwentyThirtyPage no 736. The standard acceptable term of an LLC is 30 years.http://vugoogle.com146Which one of the following provides a guideline in determining hiring procedures?Job description

Job specificationJob analysisJob evaluationBefore writing the organization plan, it is helpful to prepare a job analysis. The jobanalysis serves as a guide in determining hiring procedures and job descriptions andspecifications.The S corporation combines the tax advantages of which one of the following?Proprietorship and limited liability companyPartnership and corporationCorporation and limited liability companyPartnership and proprietorshipPage no 731. A popular new entity is the limited liability company (LLC), which offers similarAdvantages as the S Corporation but with more liberal tax rules under subchapter K. Thisform is a partnership-corporation hybrid with the following characteristics:Which of the following is the base of Job Advertisement?Job DescriptionJob SpecificationJob identificationAll of the above optionsWhich of the following shows the results from the difference between actual cashreceipts and cash payments?RevenueProfitCash flowIncome statementWhat is the primary concern of entrepreneurs, who trade equity for their growingventure?ControlValuationhttp://vugoogle.com147Investor capabilitiesCapitalizationWhen the business does not have assets to support a loan, the entrepreneur may gofor which one of the following options?Character loanStraight commercial loanInstallment loanLong term loan.Character loans.a. When the business does not have assets to support a loan, the entrepreneur mayneed a character loan.b. These loans must have assets of an individual pledged as collateral, or have theloan cosigned by anotherWhich of the following number of years a mortgage loan may possibly cover?10203040In which of the following techniques, money is given to a firm for developing atechnology and involves a tax shelter?Small business administration loansCash flow financingSmall business innovation research grantResearch and development limited partnership

http://vugoogle.com148This method of financing provides funds from inventors looking for tax shelters. Atypical R&Dpartnership arrangement is established with a sponsoring company developing thetechnology with funds being provided by a limited partnership of individual investors. Researchand development limited partnerships are particularly good when the project involves a highdegree of risk or significant expense.The overall coordinating party in an agreement is:Limited partnerMajor partner not sureMinor partnerGeneral partnerWhich of the following includes grants from the U.S. government to small technologybased businesses?Small business administration loansSmall business innovation research grantResearch and development limited partnershipInstallment loansPage no 87Which of the following is a formalized method for obtaining funds from privateinvestors?Private placementPrivate offeringRegulation DBootstrap financinghttp://books.google.com.pk/books?id=s01P0agnLPUC&pg=PA336&lpg=PA336&dq=Which+of+the+following+is+a+formalized+method+for+obtaining+funds+from+private+investors%3F&source=bl&ots=rCMCDs_3s4&sig=lluTX1HCWjFtSAv_r4tiNO6P5l4&hl=en&ei=Fr2OS4TsFYa3rAeRotiICw&sa=X&oi=book_result&ct=result&resnum=1&ved=0CAYQ6AEwAA#v=onepage&q=&f=falseWhen did the Sindh Small Industries Corporation launch its credit scheme?1972-731978-791988-891992-93http://vugoogle.com149The SSIC also launched a credit scheme in 88,/89.Which of the following is a type of leverage ratio?Debt ratioNet profit marginReturn on investmentCurrent ratioThe mean age of entrepreneurial enterprises in Pakistan is:12 years15 years20 years22 yearsAge Pattern in Pakistan:“The mean age of entrepreneur was found to be 42 years and of their enterprises 12years. It is comparable to the Korean age pattern (46)”.In most cases, the venture capitalist:Seeks control of the companyNever expects a seat on the board of directorsExpects the management team to run the daily operations

Prefers not to interfere in planning and expertise areashttp://vugoogle.com150Conflicts in Management thoughts and Entrepreneur thoughts are resolved by whichof the following company?Xerox page 16UnileverWallsVoltaThe entrepreneur must possess the abilities:CreativeConceptualizationUnderstanding environmentAll of the given optionsIn which of the following era entrepreneur enters into a contract with government toperform a service?20th centuryEarliest periodMiddle ages17th centuryIn the 17th century the entrepreneur was a person who entered into a contract with thegovernment 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 firmFoundation firmLife stylePublic companyIn entrepreneurial domain the commitment to opportunity has short time span but inmanagerial domain it is:For 1 monthFor 6 monthsFor long time spanFor 1 yearMoral support network includes all of the following EXCEPT:SpousesFriendsBusiness associates sureRelativespage no 26http://vugoogle.com151There is evidence that an entrepreneur usually has _______________ parents.Self employedDiscouragedNon supportiveStrictFollowing are the problems in developing the economies EXCEPT:Gap of knowledgeVariable rate of returnSame communication styleDifferent accounting systemWhich of the following techniques is an excellent method for initial screening of ideasand concepts?Focus groupProblem inventory analysis (Doubtful) page 35

Brain stormingReverse brainstormingWhich of the following has not yet been empirically established as a distinguishingcharacteristic of entrepreneurs?► Locus of control► Feeling about independence► Need for achievement► Risk takingRisk TakingRisk taking seems a part of the entrepreneurial process. However, it has not yet beenempiricallyA typical inventor is usually ________________________.http://vugoogle.com152► Highly creative & in love with the invention► Does not encourage change► Willing to modify the invention in order to augment commercial benefit► None of the given optionsThe level at which an individual is viewed by society is called:► Financial status► Qualification► Social status► AchievementAn individual’s need to be recognized is called:► Need for independence► Need for affiliation► Need of fame► Need for achievementWhich one of the following is an important source of idea generation due to theirfamiliarity with the needs of market?► Existing products and services► Distribution channels► Federal government► ConsumersThe concept of World Wide Web pages was developed in:► 1960s► 1970s► 1980s► 1990sHow many perspectives should be considered while preparing business plan?http://vugoogle.com153► One► Three► Four► Not specificWhich one of the following can be registered under design patent?► New product► Original product► Ornamental► All of the given optionsWhich of the following is a characteristic of a good partner?► Help to achieve goals► Share entrepreneur’s vision

► Do not exploit the partnership► All of the given optionsWhich of the following is a method of selling goods to another country by takingcare of transactions?► Indirect exporting► Direct exporting► Importing► Management contractWhich one of the following is the way by which an entrepreneur can enter intointernational business?► Export► Non equity arrangements► Direct foreign investment► All of the given optionsMost of the finance for the new firm comes from following resources EXCEPT:http://vugoogle.com154► Friends► Foreign aid► Relatives► Personal savingsWhich one of the following receives highest investment?► Public company► Life style► High potential venture► Foundation firmWhich of the following is a second step in the entrepreneurial process?► Developing successful business ideas► Deciding to become an entrepreneur► Growing the entrepreneurial firm► Moving from an idea to an entrepreneurial firmWhich of the following is NOT included in the opportunity evaluation process?► Length of the opportunity► Real and perceived value of opportunity► Goals and objectives of customers► Risks and rewards of opportunityWhich one of the following is true regarding female entrepreneurs?► Currently the number of companies owned by female entrepreneurs exceedsthose owned by their male counterparts► Women-owned businesses grow thrice that national rate for all privatecompanies► 53 percent of all private companies are women-owned businesses► One-third of women-owned businesses are connected with healthcare and social serviceshttp://vugoogle.com155In terms of chronological age, most entrepreneurs initiate their entrepreneurialcarrier between ages of:► 15 and 22► 22 and 45► 45 and 57► 57 and 63It has been observed that usually the entire country is organized under single:► Economic system► Culture► Living standard

► Legal environmentFollowing are the types of non-equity arrangements EXCEPT:► Licensing► Management contracts► Direct export► Turnkey projectsWhich of the following abilities must be possessed by an entrepreneur?► Creative► Conceptualization► Understanding environment► All of the given optionsAn individual’s desirability to form a new venture depends upon all of the followingExcept:► Culture► Family► Teachershttp://vugoogle.com156► Personal savingsThe perception that starting a new company is desirable results from anindividual’s culture, subculture, family, teachers and peers.Identify the type of innovation which refers to new products with significanttechnological advancement.► Ordinary innovation► Technological innovation► Breakthrough innovation► Technical innovation• Most innovations introduced in the market are ordinary innovations, with littleuniqueness. • Technological innovations refer to new products with significanttechnological advancements. • Breakthrough innovations mean the developmentof new products with some technological change“Management of enterprise” is an important aspect of entrepreneurial process.Which involves all of the following EXCEPT:► Implementation of a management style► Determination of key variables for success► Implementation of control system► Creation of opportunityWhich of the following is NOT a goal of an Intrapreneurial culture?► To take responsibility and ownership► To be rewarded for actions taken► To develop visions, goals, and action plans► To follow given instructionsThe guiding principles of intrapreneur1. Develop visions, goals, and action plans2. Be rewarded for actions taken3. Suggest, try, and experiment4. Create and develop5. Take responsibility and ownershiphttp://vugoogle.com157Which of the following best defines “minority interest”?► It refers to having less than 50 percent ownership position► It refers to forming a third company by combining two companies► It refers to having more than 50 percent ownership position► It refers to selling goods made in one country to another countryWhich of the following techniques is an excellent method for initial screening of

ideas and concepts?► Focus group► Problem inventory analysis► Brain storming► Reverse brainstormingWhich of the following is an idea generation method that focuses on parameters?► Brainstorming► Reverse brainstorming► Creative problem solving► SynecticsQuestion No: 31 ( Marks: 1 ) - Please choose oneWhich of the following best describes “contract”?► It refers to a legally binding agreement between two parties► It grants holder protection from others making, using or selling similar idea► It may be a word, symbol, design or some combination that identifies thesource of certain goods► It refers to a legal document giving official permission to do somethingThere are three perspectives that should be considered when preparing the plan.Which of the following does NOT refer to the plan?► Entrepreneurial perspective► Marketing perspective► Investor’s perspective► Religious perspectivehttp://vugoogle.com158The entrepreneur understands the new venture better than anyone. The marketingperspective considers the venture through the eyes of the customer.The investor looks for sound financial projections. The depth of the business plandepends on the size and scope of the proposed venture. The business plan isvaluable to the entrepreneur and investors because:Business plan should be prepared by an entrepreneur. All of the following should beconsulted while preparing this plan EXCEPT:► Lawyers► Accountants► Marketing consultants► General publicWHO SHOULD WRITE THE PLANThe business plan should be prepared by the entrepreneur; however, he or she mayconsult many sources. Lawyers, accountants, marketing consultants, and engineersare useful supplemental sources. Other resources are the Small BusinessAdministration, Service Core of RetiredExecutives, Small Business Development Centers, universities, friends, and relatives.To help determine whether to hire a consultant, the entrepreneur needs to make anobjective assessment of his or her own skills.Data that support the opportunity for the venture should be briefly stated in theexecutive summary. If this venture is an internet business, all of the following factsshould be stated by an entrepreneur EXCEPT:► Growth in the number of internet users► Growth in the average amount of time spent on the internet► Growth in sales dollars generated on the internet► Growth rate of populationWhich one of the following can serve entrepreneur as a consultant of the businessplan?► Lawyers► Accountants► Marketers

► All of the given optionshttp://vugoogle.com159A 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► None of the given optionsInventorAn individual who creates something newBeing one’s own boss is a need of:► Independence► Achievement► Affiliation► AuthorityNeed for independence. Being one’s own boss-one of the strongest needs of anentrepreneurThe difference between the value of a country’s imports and exports over time iscalled:► Deficit exports► Deficit imports► Balance of payment► Balance of debtRef: http://en.mimi.hu/business/exports.htmlThe difference between the value of a country's imports and exports during a specific periodof times called the balance of trade.A/an ______ is an online connection between the company and its customers.► Internet advertising► Website► E-Commercehttp://vugoogle.com160► World Wide WebWebsite A website is an online connection between the company and its customersand can be developed in-house or outsourced. There are several important featuresof every website.Which of the following grants protection to owner from anyone else making, usingand selling the identified innovation?► Utility patent► Design patent► Plant patent► International patent1. Utility PatentsA utility patent has a term of 17 years, beginning on the date the Patent and Trademark Office(PTO) issues it. NAFTA (North American Free Trade Agreement) establishes a minimum periodof 20 years. The patent grants the owner protection from anyone making, using, and/or sellingthe invention.All of the following are essentials to maintain secrecy, EXCEPT:► Train employees to refer sensitive questions to one person► Discuss business in public places► Provide escorts for all office visitors► Use simple security such as locked file cabinetsTo maintain secrecy1. Train employees to refer sensitive questions to one person.2. Provide escorts for all office visitors.3. Avoid discussing business in public places.4. Use simple security such as locked file cabinets and shredders.

Who should prepare the business plan?► Entrepreneurs► Consultants► Engineershttp://vugoogle.com161► Small business administration servicesA business plan is a written document prepared by the entrepreneur that describesall the relevant external and internal elements involved in starting a new venture.Which of the following body issues patents?► GATT► NAFTA► FTA► PTOPatents are issued by the Patent and Trademark Office (PTO.)The product life cycle starts with which stage of product planning and developmentprocess?► Test marketing stage► Product development stage► Commercialization stage► Product planning and development process is a part of product life cycleProduct planning and development processGenerally divided into five major stages: idea stage, concept stage, productdevelopment stage, test marketing stage, test marketing stage, andcommercialization stageDeveloping a new idea through inquiry and testing is called:► Heuristics► Forced relationship► Scientific method► Value analysisHeuristicsIt is method of developing a new idea through a thought process progression.Which one of the following gives suggestions for new product and also help tomarket new products?http://vugoogle.com162► Existing products and services► Distribution channels► Federal government► ConsumersDistribution Channels Because they are familiar with the needs of the market,channel members often have suggestions for new products. These channel memberscan also help in marketing the new product.Trade barriers cause:► Increase in cost► Decrease in cost► Increase in profit► None of the given optionsTrade barriers pose problems for entrepreneurs who want to become involved ininternational business. Trade barriers increase the costs of exporting projects to acountry.A person who managed large project was termed as the entrepreneur in the_________.► Earliest period► Middle ages► 17th century

► 19th and 20th centuryMiddle AgesIn this age the term entrepreneur was used to describe both an actor and a personwho managed large production projects.Which of the following is NOT a potential cost of becoming an entrepreneur?► Financial reward► Long hours► Financial insecurity► Lonelinesshttp://vugoogle.com163Factors contribute to the creation of new venture EXCEPT:► Government► Finance► High interest rates► Role modelsMost of the finance for the new firm comes from following resources EXCEPT:► Friends► Foreign aid► Relatives► Personal savingsWhat is the process by which individuals pursue opportunities without regard toresources they currently control?► Startup management► Entrepreneurship► Financial analysis► Feasibility planningConceptualized entrepreneurship as a process by which individuals - either on theirown or inside organizations - pursue opportunities without regard to the resourceswhich they currently control.Which of the following is NOT included in the opportunity evaluation process?► Length of the opportunity► Real and perceived value of opportunity► Goals and objectives of customers► Risks and rewards of opportunitya. The evaluation process involves looking atb. The creation and length of the opportunityhttp://vugoogle.com164c. Its real and perceived valued. Its risks and return.e. It’s fit with the skills and goals of the entrepreneurf. Its differential advantage in its competitive environmentThe difference of the entrepreneurial and managerial domains has contributedtowards an increase interest in which of the following?► Forming new firms► Partnership► Intrapreneurship► Private firmsWhich is the most common cause of business failure?► Insufficient capital► Unstable market► Insufficient experience► Poor entrepreneurshipIn which one of the following countries the entrepreneurial success has beensignificant because of the culture, the political and economic systems?

► European countries► Asian countries► Far East countries► Middle East countriesPage 37 Entrepreneurial success in some Asian countries has been significantbecause of the culture and the political and economic systems.Moral support network includes all of the following EXCEPT:► Spouses► Friends► Business associates► Relativeshttp://vugoogle.com165Moral support network of family and friends. Most entrepreneurs indicate that their spousesare their biggest supporters. Friends can provide advice that is more honest than that receivedfrom others, plus encouragement, understanding, and assistance. Relatives can also besources of moral support, particularly if they are also entrepreneurs.Professional support network includes all of the following EXCEPT:► Personal affiliations► Mentor► Trade associations► FriendsPage 26 read Professional-Support NetworkThe former USSR received technology and syrup from Pepsi and provided it withSoviet vodka and rights to distribute it in the US. This is an example of:► Economic development► Barter system► Balance of payment► International tradeType of System Barter or third-party arrangements have been used to increasebusiness activity with the Commonwealth of Independent States, the former U.S.S.R.__________ is prepared on the bases of levels of the internal structure of thebusiness.► Organizational Plan► Production Plan► Marketing Plan► Financial PlanThe organizational plan section should describe the venture’s form of ownership. Ifthe venture is a corporation, this should include the number of shares authorized,share options, and names and addresses of the directors and officers. It is helpful toprovide an organization chart indicating the line of authority. This chart shows theinvestor who controls the organization and how members interact.http://vugoogle.com166Which of the following abilities must be possessed by an entrepreneur?► Creative► Conceptualization► Understanding environment► All of the given optionsWhich of the following is NOT a guiding principle in a traditional corporate culture?► Follow given instructions► Take responsibility and ownership► Do not take initiative► Do not make mistakesThe guiding principles in a traditional corporate culture are:1. Follow instructions given 2. Do not make mistakes 3. Do not fail 4. Do not take initiative 5.Stay within your turf and protect your backside 6. This restrictive environment is not

conducive to creativity, flexibility, and risk takingIn order to minimize the negative effect of any disruption in an organization, whichof the following characteristics an intrapreneur must possess?► He should be diplomatic► He should be conservative► He should be autocratic► He should be authoritativePAGE 20The intrapreneur must be a good diplomat to minimize disruption.According to research, when do the female entrepreneurs tend to start their firstsignificant venture?► In their mid 20s► In their mid 30s► In their mid 40s► In their mid 50sWhich of the following best defines “horizontal merger”?► It refers to combining at least two firms doing similar businesses atthe same market level► It refers to forming a third company by combining two companieshttp://vugoogle.com167► It refers to having more than 50 percent ownership position► It refers to combining at least two firms at different market levelsHorizontal mergerCombination of at least two firms doing similar businesses at the same market levelWhich of the following is an example of rising number of women entrepreneursin China?► Guau Guarymei► Wataru Ohashi► Kazuhiko Nishi► Li Ka-ShingIdentify the statement which best defines “checklist method”► It refers to developing a new idea through a list of related issues► It refers to a group method for obtaining new ideas focusing on the negative► It refers to a method for individuals to solve problems through one of fourmechanisms► It refers to a method for developing new ideas when the individuals areunaware of the problemChecklist methodDeveloping a new idea through a list of related issues is checklist method of problem solving.Which of the following best describes “contract”?► It refers to a legally binding agreement between two parties► It grants holder protection from others making, using or selling similar idea► It may be a word, symbol, design or some combination that identifies thesource of certain goods► It refers to a legal document giving official permission to do somethingContract is an agreement between two or more parties, that if it contains the elements of avalid legal agreement is enforceable by law[1] or by binding arbitration. That is to say, acontract is an exchange of promises with a specific remedy for breach.Which of the following is the title or cover page that provides a brief summary of thebusiness plan’s content?► Introductory page► Executive summaryhttp://vugoogle.com168► Environmental and industry analysis► Description of venture

PAGE 57The title page provides a brief summary of the business plan’s contents,1 The term entrepreneur came from:a) Latinb) Frenchc) English (UK)d) none of the given option2 The term entrepreneur is translated as:a) between-giverb) between-takerc) receiverd) giver3 The period in which the money person entered into a contract with the go-between to sell his goods is known as:a) middle aesb) 18th centuryc) 17th centuryhttp://vugoogle.com169d) earliest period4 ----------viewed the entrepreneur as a risk taker who “buy(s) at an uncertain price, therefore operating at a risk”a) Eli Whitneyb) Edward harimanc) Richard cantillond) Thomas Edison5 a --------- is a professional money manager who makes risk investment from a pool of equity capital to obtaina high rate of return on investmentsa ) venture capitalistb) entrepreneurc) businessmand) buyer6- In the ---------- century, the notion of an entrepreneur as an innovator was established.a) 17th centuryb) late 19th centuryc) middle of the 20th centuryd) 18th century7-In almost all definitions of entrepreneurship there is agreement that we are talking about a kind of behavior thatincludes:http://vugoogle.com170a) initiative takingb the organizing and reorganizing or social/economic mechanisms to turn resources and situations to practicalaccount.c) the acceptance of risk or failured) all of the given option1 There is not a concise, universally accepted definition of entrepreneurship.A)TrueB)False2 Countries with cultures in which failure is viewed as a disgrace have a low rate of business formation.A)TrueB)False3 Entrepreneurs are generally less educated than the general population.A)TrueB)False

4 Entrepreneurs have well-established internal ethics systems making them especially strong when encounteringethical dilemmas.A)TrueB)Falsehttp://vugoogle.com1715 The growth of entrepreneurship can be easily promoted by Federal and State Governments.A)TrueB)False6 Which of the following statements is (are) true?A)Individuals who study entrepreneurship are three to four times less likely to start a business than students inother fields.B)It is impossible for entrepreneurs to also be philanthropists.C)Entrepreneurs are a relatively new phenomenon, emerging in the 17th century.D)None of the above7 Entrepreneurs take financial, _________, and ____________ risks.A)psychological, socialB)psychological, environmentalC)social, environmentalD)none of the above8 ___________________ is not a known pocket of entrepreneurial subculture.A)New OrleansB)Route 128 (Boston)C)Silicon ValleyD)North Carolina Trianglehttp://vugoogle.com1729 The "high-potential venture":A)has the same growth potential as a life-style firm.B)starts out like a life-style firm.C)draws the interest of private investors only.D)none of the above10 Which of the following skills is needed by an entrepreneur?A)technical skillsB)business management skillsC)personal entrepreneurial skillsD)all of the aboveQ #1: The entrepreneur was distinguished from capital provider in:A. Middle agesB. 18th centuryC. 17th centuryD. 19th and 20th centuryhttp://vugoogle.com173Q #2: ___________ Process of creating incremental wealth is calledEntrepreneurship.A. DynamicB. StaticC. ContinuesD. SystematicQ #3: Most important factor in forming a new business is:A. FinanceB. MarketingC. Govt SupportD. Family Support

Q #4: Which one of the following is the process of entrepreneursdeveloping newproducts that over time make current products obsolete?A. Creative destructionB. New business modelC. Anatomizationhttp://vugoogle.com174D. None of the given optionsQ #5: The intersection of knowledge and a recognized social need to start aproductdevelopment process is called:A. Iterative synthesisB. Product-evolution processC. Ordinary innovationD. Situation analysisQ #6: Which one of the following is the primary cause of failure in smallbusinesses?A. Poor financial controlB. Poor locationC. Management mistakeshttp://vugoogle.com175D. Improper inventory controlQ #7: Which one of the following is the first step in the entrepreneurialprocess?A. Developing successful business ideasB. Deciding to become an entrepreneurC. Growing the entrepreneurial firmD. Moving from an idea to an entrepreneurial firmQ #8: Which of the following is NOT included in the opportunity evaluationprocess?A. Length of the opportunityB. Real and perceived value of opportunityC. Goals and objectives of customersD. Risks and rewards of opportunityQ #9: The resistance of employees in an organization against flexibility,growth, andhttp://vugoogle.com176diversification can be overcome by developing:A. EntrepreneurshipB. IntrapreneurshipC. Managerial domainD. Administrative domainQ #10: The entrepreneur’s_______________ depends on his perception of

theopportunity.A. Commitment to opportunityB. Commitment of resourcesC. Control of resourcesD. Strategic orientationQ #11: Which of the following statements about the entrepreneurial climateis (are) true?A. Trial and error are discouragedhttp://vugoogle.com177B. Resources of the firm need to be available and easily accessibleC. A multidisciplinary approach is discouragedD. Failures are not allowedQ #12: Which of the following makes the formation of new venture difficultwithin acorporate culture?A. Lack of intrapreneurial talentB. Lack of freedom to make autonomous decisionsC. Lack of market opportunityD. All of the given optionsQ #13: Which of the following factors has allowed small companies to actlike they arebig ones?A. Competitionhttp://vugoogle.com178B. Economic developmentC. TechnologyD. CustomersQ #14: Which of the following is alternatively called corporate venturing?A. EntrepreneurshipB. IntrapreneurshipC. Act of stating a new ventureD. Offering new products by an existing companyQ #15: Being one’s own boss is a need of:A. IndependenceB. AchievementC. AffiliationD. AuthorityQ #16: An individual’s need to be recognized is called:http://vugoogle.com179A. Need for independenceB. Need for affiliationC. Need of fameD. Need for achievementQ #17: Which one of the following factors does not affect a person for

being anentrepreneur?A. Family backgroundB. EducationC. Personal ValuesD. GenderQ #18: Female entrepreneurs differ from male entrepreneurs in terms of allof thefollowing EXCEPT:A. MotivationB. Business skillshttp://vugoogle.com180C. Departure pointD. Goal orientationQ #19: Which of the following areas are preferred by womenentrepreneurs?A. AdministrationB. UtilitiesC. ManufacturingD. None of the aboveQ #20: Which one of the following is NOT TRUE about male entrepreneurs?A. Males often have investors, bank loans, or personal loans in addition to personalfundsB. Males often have more experience in manufacturing, finance, or technical areasC. Men are often more confident and less flexible and tolerantD. Men usually list outside advisors as the least important supporters1-Government can help in forming new venture by providing:Select correct option:http://vugoogle.com181FinanceTechnologyInfrastructureSubsidiaries2-The assessment of the needed resources by the entrepreneur starts with:Select correct option:An appraisal of the entrepreneur’s present resourcesAn assessment of economic conditions of the countryA scanning of friends and family for fundsA survey of banks and other finan3-An actor and a person who managed large project were termed as the entrepreneur in the _________.Select correct option:Earliest periodMiddle ages17th century19th and 20th century4-An actor and a person who managed large project were termed as the entrepreneur in the _________.Select correct option:http://vugoogle.com182Earliest periodMiddle ages

17th century19th and 20th century5-The chief motivational factor for _________________ entrepreneurs to leave jobs is the frustration of not beingallowed to perform at the level of which they are capable.Select correct option:MaleFemaleYoungAll of the given options6-The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights todistribute it in theUS. This is an example of:Select correct option:Economic developmentBarter systemBalance of paymentInternational trade7-A typical inventor is usually ________________________.Select correct option:http://vugoogle.com183Highly creative & in love with the inventionDoes not encourage changeWilling to modify the invention in order to augment commercial benefitNone of the given options8-An individual’s need to be recognized is called:Select correct option:Need for independenceNeed for affiliationNeed of fameNeed for achievement9-The activities which occur when the new venture is started are called:Select correct option:MotivationGoal orientationDeparture pointBusiness skills10-The intersection of knowledge and a recognized social need to start a product development process is called:http://vugoogle.com184Select correct option:Iterative synthesisProduct-evolution processOrdinary innovationSituation analysis11-Which of the following firm achieves modest growth:Select correct option:High potential growth firmFoundation firmLife stylePublic companyJoin this GroupMain Study Portal-Which of the following factors has allowed small companies to act like they are big ones?Select correct option:CompetitionEconomic developmentTechnologyhttp://vugoogle.com185Customers

http://vugoogle.com2-The entrepreneur was distinguished from capital provider in:Select correct option:18th century17th century19th and 20th centuryMiddle ages3-Gazelles are the firms with:Select correct option:High growth rateModerate growth rateZero% growth rateLow growth rate4-Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:Select correct option:MotivationBusiness skillsDeparture pointGoal orientationhttp://vugoogle.com1865-Foundation companies are formed from:Select correct option:FashionMost popular businessA winding up companyResearch and development6-Following are the types of non equity arrangements EXCEPT:Select correct option:LicensingManagement contractsDirect exportTurnkey projects7-Which of the following areas are preferred by women entrepreneurs?Select correct option:AdministrationUtilitiesManufacturingNone of the abovehttp://vugoogle.com187http://vugoogle.com8-___________ is required if a company wants to be more flexible in adopting changes.Select correct optionManagement commitmentContact with customersTechnologyMore productivity9-Which one of the following is the fourth step in the entrepreneurial process?Developing successful business ideasDeciding to become an entrepreneurGrowing the entrepreneurial firmMoving from an idea to an entrepreneurial firmThe Entrepreneurial ProcessThe Entrepreneurial Process Consists of Four StepsStep 1: Decision to become an entrepreneurStep 2: Developing successful business ideasStep 3: Moving from an idea to an entrepreneurial firmStep 4: Managing and growing an entrepreneurial firm

10-When the multiplicity of environments become too complex to handle, the international entrepreneurs often__________.http://vugoogle.com188Go for mergers (doubted)DiversifyDecentralize operationsSale out the foreign business11-The activity which occurs when the new venture is started are called:Select correct option:MotivationBusiness skillsDeparture pointGoal orientation12-Individuals influencing an entrepreneur’s career choice and style are known as:Role modelMoral-support networkProfessional support networkSupport system13-Professional support network includes following EXCEPT:Personal affiliationsMentorTrade associationsFriendshttp://vugoogle.com189http://vugoogle.com14-All of the following are the broad categories of External forces EXCEPT:Select correct option:Economic forcesSocioeconomic forcesTechnological forcesCompetitive forceshttp://vugoogle.com15-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?Select correct option:SupplierRetailerCompetitionGovernment bureauENTREPRENEURSHIP (MGT 602)http://vugoogle.com190From chapter No 13 to 22Assignment No. 2 (Quiz)Questions:http://vugoogle.com1911. A set of reasons for engaging in a particular behavior, especially human behavior isknown as _____________.a. Valuesb. Visionc. Entrepreneurshipd. Motivation2. Which of the following techniques is an excellent method for initially screening ideasand concepts in addition to generating new ideas?http://vugoogle.com192

a. Focus groupb. Brain stormingc. Problem inventory analysisd. Reverse brainstorming3. The creative process for problem solving that involves making the strange familiar infirst step and then making the familiar strange through personal, direct or symbolicanalogy is called _________.a. Synecticsb. Gordon methodc. Checklist methodd. Scientific method4. When the multiplicity of environments become too complex to handle, theinternational entrepreneurs often __________.a. Go for mergersb. Diversifyhttp://vugoogle.com193c. Decentralize operationsd. Sale out the foreign business5. An entrepreneur into the hosiery business found out the reason his hosierywas notselling was due to its color. What could be the best source of this information?a. Supplierhttp://vugoogle.com194b. Retailerc. Competitiond. Government bureau6. In some countries, point of purchase displays are not allowed in retail stores. Suchdifferences are studied by international entrepreneurs under __________environment.a. Economicb. Politicalc. Culturald. Technological7. Entrepreneurial success has been significant because of the culture and the politicaland economic systems in _________.a. European countrieshttp://vugoogle.com195b. Asian countriesc. Transition economiesd. Middle east8. Having more than 50% ownership position that provides the entrepreneur withmanagerial control is called ___________.a. Joint ventureb. Majority interestc. Horizontal mergerd. Diversified activity merger9. The under-developed or lesser developed countries need manufacturing technologyand infrastructure and yet do not want to turn over substantial portion of theireconomy to foreign ownership. Which of the following is a solution to this dilemma?a. Management contractb. Indirect exportingc. Licensinghttp://vugoogle.com196d. Turn-key project10. The development of a new venture based on an inventor’s work often requires________.

a. Expertise of an entrepreneurb. Heavy investment from financersc. Skilled human resourcesd. Highly educated stafffor more contents visithttp://vugoogle.comhttp://vugoogle.com197Quiz 5Entrepreneurship(MGT602)1. One effective way to begin the marketing plan isa. To make a list of the information that will be needed to prepare themarketing plan.b.Gathering Data from Secondary Sourcesc. Gathering Information from Primary Sources.d. None of the options given2. A focus groupa. Is a sample of 10 or 12 potential investors who participate in a discussion?b.Is a sample of 10 or 12 potential employees who participate in a discussion?http://vugoogle.com198c. Is a sample of 10 or 12 potential customers who participate in adiscussion?d. None of the options given3. The situation analysis isa. Defining Target Market/Opportunities and Threats.b. Considering Strengths and Weaknessesc. A review of where the com pany has been and considers envi ronmentalfactors.d. None of the options given4. One of the difficult decisionsa. Is about the distribution of the productb.Is determining the appropriate price for the product.http://vugoogle.com199c. Is about the promotion of the productd. None of the options given5. Which of the following statement is true for marketing system?a. It is all about the internal envoi mental factorsb. It identifies the major interacting components, both internal and externalc. It’s about the financial needs of the ventured. None of the options given6. In setting marketing goals and objectives the entrepreneur musta. Set the priceb. Distribution placec. Must satisfy customersd. None of the above7. The financial plan provides a complete picture ofhttp://vugoogle.com200a. How much and when the funds are coming into the organization.b. Where the funds are going.c. How much cash is available?d. Al of the options given

8. Before developing the pro forma income statement, the entrepreneur shoulda. Prepare operating budgetsb. Capital budgets.c. None of the options givend. Both of the options given (a,b)9. Which of the following statement is true?a. Cash flow is same as profit.http://vugoogle.com201b. Profit is the result of subtracting expenses from sales.c. Cash flow results from the difference between all cash available and cash pay ments.d. Cash flows only when actual payments are not made but only received.10. Which of the statement is not true?a. The S Corporation combines the tax advantages of the partnership and the corporation.b.S Corporations represent almost half of all corporate fil ings.c. A popular new entity is the limited liability company (LLC)d. Limited liability Company (LLC) offers similar disadvantages as the SCorpora tion2:environment.a. Economicb. Politicalc. Culturalhttp://vugoogle.com202d. Technological7. Entrepreneurial success has been significant because of the culture and the politicaland economic systems in _________.a. European countriesb. Asian countriesc. Transition economiesd. Middle east8. Having more than 50% ownership position that provides the entrepreneur withmanagerial control is called ___________.a. Joint ventureb. Majority interestc. Horizontal mergerd. Diversified activity mergerhttp://vugoogle.com2039. The under-developed or lesser developed countries need manufacturing technologyand infrastructure and yet do not want to turn over substantial portion of theireconomy to foreign ownership. Which of the following is a solution to this dilemma?a. Management contractb. Indirect exportingc. Licensingd. Turn-key project10. The development of a new venture based on an inventor’s work often requires________.a. Expertise of an entrepreneurb. Heavy investment from financersc. Skilled human resourcesd. Highly educated staffhttp://vugoogle.com204for more contents visithttp://vugoogle.comQuiz 5Entrepreneurship(MGT602)1. One effective way to begin the marketing plan is

http://vugoogle.com205a. To make a list of the information that will be needed to prepare themarketing plan.b.Gathering Data from Secondary Sourcesc. Gathering Information from Primary Sources.d. None of the options given2. A focus groupa. Is a sample of 10 or 12 potential investors who participate in a discussion?b.Is a sample of 10 or 12 potential employees who participate in a discussion?c. Is a sample of 10 or 12 potential customers who participate in adiscussion?d. None of the options given3. The situation analysis isa. Defining Target Market/Opportunities and Threats.b. Considering Strengths and Weaknesseshttp://vugoogle.com206c. A review of where the com pany has been and considers envi ronmentalfactors.d. None of the options given4. One of the difficult decisionsa. Is about the distribution of the productb.Is determining the appropriate price for the product.c. Is about the promotion of the productd. None of the options given5. Which of the following statement is true for marketing system?a. It is all about the internal envoi mental factorsb. It identifies the major interacting components, both internal and externalc. It’s about the financial needs of the ventured. None of the options given6. In setting marketing goals and objectives the entrepreneur musthttp://vugoogle.com207a. Set the priceb. Distribution placec. Must satisfy customersd. None of the above7. The financial plan provides a complete picture ofa. How much and when the funds are coming into the organization.b. Where the funds are going.c. How much cash is available?d. Al of the options given8. Before developing the pro forma income statement, the entrepreneur shoulda. Prepare operating budgetsb. Capital budgets.c. None of the options givenhttp://vugoogle.com208d. Both of the options given (a,b)9. Which of the following statement is true?a. Cash flow is same as profit.b. Profit is the result of subtracting expenses from sales.c. Cash flow results from the difference between all cash available and cash pay ments.d. Cash flows only when actual payments are not made but only received.

10. Which of the statement is not true?a. The S Corporation combines the tax advantages of the partnership and the corporation.b.S Corporations represent almost half of all corporate fil ings.c. A popular new entity is the limited liability company (LLC)d. Limited liability Company (LLC) offers similar disadvantages as the S Corpora tion

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