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MGT602 Entrepreneurship Quiz MCQs Lecture 23-39 Objective Questions

MGT602-Entrepreneurship Quiz #Objective #Questions

1. Which of the following is true for the small business innovation act?

  • It requires federal agencies with R&D budgets over $100 million.
  • It provides a uniform method for selecting worthy research proposals.
  • It provides funds to entrepreneurs through the SBIR grant program.
  • All of the given. ✔

2. No capital stock tax is an advantage of ___

  • Proprietorship ✔
  • Limited liability company
  • Corporation
  • S corporation

3. Which of the following is independently owned and operated and not dominant in its field of operation?

  • Diversified Organization
  • International Business
  • Small Business
  • Entrepreneurship ✔

4. All of the following are the asset bases for loans EXCEPT:

  • Accounts receivable
  • Inventory ✔
  • Installment
  • Equipment

5. Which of the following form of business has two or more individuals with unlimited liability who have pooled resource to own a business?

  • Proprietorship
  • Partnership ✔
  • Corporation
  • S corporation

6. In which of the following forms the death of owner dissolves the business?

  • Proprietorship ✔
  • LLC
  • Corporation
  • S Corporation

7. Discovery of a market niche within an existing market will pop business ___ for existing entrepreneurs.

  • Opportunities ✔
  • Threats
  • Strengths
  • Weakness

8. Which of the following is the previous name of SME?

  • SPCC
  • SBFC
  • FMBC

9. “Self-motivated and result oriented individuals with PC knowledge, excellent spoken and written English and three to four years practical experience of market research” This selection of job advertisement represents which of the following term?

  • Job analysis
  • Jop Description ✔
  • Job specification
  • Job evaluation

10. Which one of the following is the systematic assembly of all facts about a job?

  • Job Specification ✔
  • Job Description
  • Job Identification
  • Job Analysis

11. Which of the following is NOT  a characteristic of question designed for questionnaire?

  • It should be clear
  • It should be concise
  • It should be easy to answer ✔
  • It should be technical

12. Which of the following form retains the legal characteristics of a regular corporation but has the advantage of being taxed as a partnership?

  • Proprietorship
  • Limited liability company
  • Corporation
  • S corporation

13. All of the following are the functions served by a board of directors Except:

  • Reviewing operating and capital budget
  • Developing long term strategic plans for growth and expansion
  • Resolving conflicts among owners or shareholders
  • Select candidates who will show good judgment in business decision making

14. Data collected from different companies’ websites is an example of:

  • Secondary data
  • Primary data
  • Commercial data
  • All of the given

15. Organizational hierarchy and ownership information are included in:

  • Organizational planning
  • Operational planning
  • Marketing planning
  • Financial planning

16. Which of the following is the process of gathering of data in order to determine the information as who will buy the product, what price should be charged and what is the most effective promotion strategy?

  • Marketing Plan
  • Marketing Research ✔
  • Marketing Mix
  • Target Market

17. Through which of the following both short and long term loans can be guaranteed?

  • SME
  • SBA ✔
  • Commercial bank

18. Which of the following are the key factors for choosing the type of financing?

  • Availability of funds
  • Assets of the venture
  • Prevailing interest rates
  • All of the above ✔

19. Which one of the following best describes the flow of goods and services from the production to the customer?

  • Organizational plan
  • Marketing plan
  • Operational plan
  • Financial plan

20. The major contribution of export comes from:

  • Leather goods
  • Surgical instruments
  • Sports goods
  • All of the given ✔

21. Which of the following is launched a “Rural industrialization program” to control the unemployment in the rural areas of Punjab?

  • PSIC
  • SSIC
  • SIDB
  • SBFC

22. Which of the following shows the example of collateral?

  • Real State
  • Shares
  • Tangible property
  • All of the given

23. Which of the following number of years a mortgage loan may possibly cover?

  • 20
  • 30
  • 10
  • 40

24. Which of the following is the most frequently used source of funds for startups?

  • Bank loans
  • Capital from savings
  • Credit cards
  • SBA loans

25. All of the following are the major components of any research and development partnership EXCEPT:

  • Contract
  • Sponsoring Company
  • Tax shelter
  • Limited Partnership

26. Which of the following is frequently used for seasonal financing and build inventories?

  • Character loan
  • Self-liquidating loan
  • Long-form loan
  • Installment loan

27. Which of the following would be considered as an operating expense?

  • Rent
  • Raw material
  • Depreciation
  • Advertising

28. SBIR grant program is controlled  by:

  • 10 Agencies
  • 11 Agencies
  • 12 Agencies
  • 13 Agencies

29. Which of the following source of capital is relatively faster and less costly than other funding?

  • Outsourcing
  • Public offering
  • Private offering
  • Boostrap financing

30. The entrepreneur or founder of the new venture usually acts as a ___ for other employees.

  • Friend
  • Role model
  • Actor
  • Evaluator

31. Which one of the following options has NOT a total taxable entity?

  • Minor partner
  • Limited partner
  • General partner
  • All of the given

32. Consider a firm has a fixed cost of Rs. 300,000 variable costs per unit of Rs 2.5 and a selling price of Rs. 8, then the breakeven of the firm will be:

  • 45,454 units
  • 54,545 units
  • 43,434 units
  • 53,535 units

33. Which is one of the most important leadership qualities among managers and employees in the organization?

  • Entrepreneurship
  • Communication
  • Motivation
  • Staffing

34. The bank-lending decisions are made according to which of the following five C’s?

  • Character, company, capacity, commodity, and condition
  • Character, capital, capacity, collateral, and condition
  • Character, capacity, commodity, collateral, and condition
  • Character, capital, capacity, collateral, and caution

35. Which of the following is the key feature of a typical contract between the sponsoring company and the limited partnership?

  • The liability for any loss incurred is borne by the limited partners
  • There is no special tax benefit for partners
  • Both a and b
  • None

36. Which of the following institute was established with the aim to assist the small entrepreneurs for elf employment and setting up cottage industry?

  • SSIC
  • SIBD
  • RDFC
  • SBFC

37. Sales revenue of the internet based business can be projected from the:

  • Number of customers
  • Number of hits
  • Number of clicks
  • All of the given

38. Which of the following is the most effective strategy of hiring senior management positions?

  • College recruitment
  • Banks
  • Venture capitalist
  • None

39. Punjab small industries Corporation provides two types of loans to its clients and the maximum limit for the loan is:

  • Rs. 2.5 lac
  • Rs. 6.5 lac
  • Rs 7.5 lac
  • Rs. 8.5 lac


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