ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT (ESBM) (MCQS) - Study For Buddies

Friday, January 22, 2021

ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT (ESBM) (MCQS)

S.Y B.COM
SEMESTER - IV

MID SEMESTER EXAMINATION
ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
(ESBM)
MCQS

(1) The word "risk" in entrepreneurship means

(A) A situation which is realistic about an outcome of the activity
(B) A situation where certainty prevails about an outcome of the activity
(C) A situation where uncertainty prevails about outcome of an activity
(D) All of the above

(2) Seed capital is a capital...

(A) Initially required to develop a business to start a business
(B) Initially required to hire new employees
(C) Initially required to emerge as a style icon
(D) Initially required to develop an innovative product

(3) The tem Intellectual Property means

(A) Property owned by intelligent entrepreneur
(B) Patent/ trademark/ copy right held by the entrepreneur
(C) None of the above
(D) Both of the above

(4) Which of the following statement is correct?

(A) Marketing - Mix elements are controllable variables in the hands of a marketer
(B) Marketing - Mix elements are uncontrollable variables in the hands of a marketer
(C) Marketing - Mix elements are unpredictable variables in the hands of a marketer
(D) Marketing - Mix elements are predictable variables in the hands of a marketer

(5) ______ helps in assessing the strengths and weaknesses of competing products and services.

(A) Technical analysis
(B) Competitive analysis
(C) Financial analysis
(D) Economic analysis

(6) The _______ illustrates the projected operating results based on profit and loss.

(A) Fund flow statement
(B) Cash flow statement
(C) Loss statement
(D) Income statement

(7) _______ are similar to patents in establishing ownership and protection for creative endeavor, but tney pertain to intellectual property.

(A) Registered Name 
(B) Brandy Name
(C) Service Mark
(D) Copyright

(8) J A Schumpeter Assigned a crucial role of _______ to the entrepreneur in his theory of economic development.

(A) Creative Agent
(B) Innovator
(C) Intrapreneur
(D) Economist

(9) ______ Is defined as risk which can not be insured against and is incalculable.

(A) Unsecured Risk 
(B) Uninsured Risk
(C) Incalculable Risk 
(D) Uncertainty

(10) A ______ extends protection to authors, composers and artists, and it relates to the form of expression rather than the subject matter.

(A) Copyright
(B) Service Mark
(C) Registration
(D) Brand Name

(11) ______ is Sometimes referred to as the game plan or road map in business.

(A) New Venture Report
(B) Business Plan
(C) Marketing Plan
(D) Legal Document

(12) Creativity is the ______ to bring out something new into existence.

(A) Desire
(B) Procedure
(C) Ability
(D) Ambition

(13) Most creative ideas can be traced to an individuals interest in or _______ about a specific problem or area of study.

(A) Curiosity
(B) Skill
(C) Knowledge
(D) Research

(14) What Cannot be patented from following?

(A) Machines
(B) Compositions of matter
(C) Processes
(D) Artistic work

(15) A _______ is any word, name, symbol or any combination thereof adopted and used by a manufacturer or merchant to identify his/her goods and distinguishes their goods from those manufactured or sold by others in the market.

(A) Copyrights
(B) Geographical indication
(C) Trademarks
(D) Patents

(16) Competitive analysis provided in a business plan is a part of ________ segment of business plan.

(A) Operations
(B) Business description
(C) Marketing
(D) Management

(17) lf the entrepreneur realizes during planning that the obstacle in proposed venture can not be avoided or overcome, it is suggested to _______ the business endeavor.

(A) Hold
(B) Alter
(C) Terminate
(D) Continue

(18) Which of the following suppliers of capital have a different need of capital for ownership?

(A) Small Investors
(B) Venture Capitalists
(C) Money Lenders 
(D) Banks

(19) The person who utilized inventions and discoveries to make new combinations is called as _________.

(A) Innovator
(B) Investor
(C) Motivator
(D) Inventor

(20) _______ Needs to possess qualities and qualifications like high achievement motive, originality in thinking, foresight, risk bearing ability and so on.

(A) Managers
(B) Workers
(C) Employees
(D) Entrepreneur

(21) The ________ is focused by the successful growth minded entrepreneurs rather than on resources, structure and strategy.

(A) Opportunity
(B) Risk
(C) Achievement
(D) Profits

(22) The word entrepreneur is derived from the _______ verb known as entreprendre.

(A) Values
(B) Egypt
(C) German
(D) French

(23)  According to  J. B. say an entrepreneur is the ______ who utilizes all means of production.

(A) Risk taker
(B) Innovator
(C) Achievement oriented
(D) Economic agent

(24) The writing, listening and oral presentations skills possessed by an entrepreneur are more appropriately classified as _______.

(A) Technical Skills
(B) Business Management Skills
(C) Personal Entrepreneurial Skills
(D) None of these

(25) According to _____ the inner urge motivates a person to do something new and directs him towards fulfillment of his needs.

(A) B.C. Tandon
(B) David Mc Clelland 
(C) K.L. Sharma
(D) David Ricardo

(26) The ______stage of creative process is a seeding process.

(A) Verification
(B) Incubation
(C) ldea germination 
(D) Preparation

(27) A utility patent is granted for a period of  _______.

(A) Lifetime
(B) 5 years
(C) 17 years
(D) 7 years

(28) ________ protects the appearance of the article and not the article.

(A) Plant Patent
(B) Utility Patent
(C) Product Patent
(D) Design Patent

(29) Reproduction of a copyrighted work for criticism, comment, scholarship and classroom teaching is considered as ______ of copy right.

(A) Fair use
(B) Infringement
(C) Limitation
(D) Violation

(30) The word 'entrepreneur' is derived from the ________ verb.

(A) Greek
(B) German
(C) French
(D) Latin

(31) Among psychologists, Frank Young describes an entrepreneur as _______.

(A) Risk bearer
(B) Change agent
(C) Innovator
(D) Organizer

(32) _____ has listed three entrepreneurial functions : (1) Superintendence (2) Control & Direction.

(A) J. S. Mill
(B) J.B. Say
(C) Richard Cantilion
(D) Josheph Schumpeter

(33) Which among the following is not a barrier to entrepreneurship ?

(A) Social stigma
(B) Patent inhibiting
(C) Complacency
(D) Internal locus & control

(34) _______ is a group method for obtaining new ideas & solutions, where freewheeling is encouraged.

(A) Focus group
(B) Brainstorming
(C) Problem inventory analysis
(D) Checklist method

(35) Innovation is the _______ of creative ideas into useful application.

(A) Implementation
(B) Organization
(C) Ability
(D) Transformation

(36) TRIPS stands for _______.

(A) Trade Related Intellectual Property Services
(B) Trade Related Intellectual Property Sector
(C) Trade Related Intellectual Property Rights
(D) Trade Related intellectual Property Standards

(37) There is no copyright for ______.

(A) Sound recordinng
(B) Artistic work
(C) Musical composition
(D) Ideas

(38) The name of the venture should be identified in ______ segment of the business plan.

(A) Business description
(B) Executive summary
(C) Operations
(D) Introduction

(39) Which skills involve oral communication, interpersonal ability to organize, network building, coaching etc ?

(A) Business management skills
(B) Technical skills
(C) Personal entrepreneurial skills
(D) Interpersonal skills

(40) Which one of this is the criteria for getting the patent right ?

(A) New
(B) Useful
(C) Only A & C
(D) Both A & B

(41) _______ is an artificial being, invisible, intangible and existing only in contemplation of law.

(A) Sole proprietorship
(B) Partnership
(C) Corporations
(D) Franchise

(42) The short description of the entire business plan is called as _____.

(A) Harvest Strategy
(B) Executive Summary
(C) Milestone Schedule
(D) Business description

(43) An ability to accomplish a mechanics of a particular job represents which entrepreneurial skill,

(A) Technical Knowledge
(B) Business secrecy
(C) Administrative ability
(D) Organizing skills

(44) A plant patents are given for ______ years.

(A) 14
(B) 15
(C) 16
(D) 17

(45) Design Patents are given for _____ years.

(A) 3.5
(B) 7
(C) 14
(D) All of these

(46) _____ Is an element of marketing mix that produces revenue.

(A) Product
(B) Price
(C) Place
(D) Promotion

(47) Which of the following is not a method of generating new business idea?

(A) Case study
(B) Brainstorming
(C) Focus group
(D) Problem Inventory analysis

(48) How many stages are there in creativity process.

(A) 4
(B) 5
(C) 6
(D) 7

(49)  Which of the following concept means a joining together of different and often unrelated ideas?

(A) Incubation
(B) Synectics
(C) Rationalization
(D) Illumination

(50) Design Patents are granted for any _____ design.

(A) Copied ornamented design
(B) Original ornamental design
(C) Only ornamental design
(D) None of these

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