Institutional Assistance of Business MCQ With Answers Part 2
a.
Financial
b. Business
c. Economic
d. Marketing
2. In which of the following, the ownership of venture is reflected by ownership of shares of stock?
a. Partnership
b. Limited partnership
c. Corporation
d. Proprietorship
3. Entrepreneurship can best be described as:
a. a process that requires setting up a business
b. taking a significant risk in a business context
c. having a strong vision
d. a process involving innovation, new products or services, and value creation
4. The small business ‘owner-manager’ is always the founder of the business:
a. True
b. False (A management buyout is an example of a business where the owner-manager would
probably not have been the founder)
5. Which of these statements best describes the context for entrepreneurship:
a. Entrepreneurship takes place in small businesses
b. Entrepreneurship does not take place in social enterprises
c. Entrepreneurship takes place in a wide variety of contexts
d. Entrepreneurship takes place in large businesses
6. Which of the following are described as one of the ‘Big Five’ personality traits?
a. propensity to leadership
b. need for achievement
c. extravert personality
d. tolerance of others
7. The period of business when an entrepreneur must position the venture in a market and make
necessary adjustments to assure survival is called the:
a. pre-startup stage.
b. startup stage.
c. early growth stage.
d. later growth stage.
8. Which of the following is a reason why a person might prefer to purchase a franchise rather than
open a completely new business?
a. higher failure rate.
b. increased independence.
c. ability to benefit from previous experience.
d. reduced royalty fees.
9. MSMED stands to ___________
a. Micro, Small & Medium Enterprises Development
b. Mini, Small & Medium Enterprises Development
c. Micro, Small & Medium Entrepreneurship Development
d. Micro, Small & Medium Enterprises Department
10. Which of the following is an internal factor that influences entrepreneurs?
a. Technological Capacity
b. Social environment
c. Political environment
d. Economic condition