Top 250+ Solved Entrepreneurship and Small Business Management MCQ Questions Answer
Q. ______ is a statement that is not expected in the business plan.
a. Balance sheet
b. Income statement
c. SEC filing statement
d. Cash flow statement
Q. ______ is when a firm sells its products in a limited area, for a limited time.
a. R & D venture
b. Pioneering business
c. New entrant business
d. Test marketing
Q. ______ is a firm whose product is new to the industry.
a. R & D venture
b. Pioneering business
c. New entrant business
d. Test marketing
Q. All of these are special purpose plans EXCEPT which of these?
a. Business plan
b. Screening plan
c. Invention plan
d. Informational plan
Q. ______ provides information on the company and critical risks to prospective businesspartners.
a. Partner plan
b. Invention plan
c. Operational plan
d. Concept plan
Q. Out of the total population of people you approach, __________ is the percentage of peoplewho buy.
a. Mini plan
b. Test marketing
c. Hit rate
d. Proof-of-concept
Q. The distinction between an "entrepreneur" and "small business owner" , if made, revolvesaround:
a. really nothing; they are truly one and the same
b. b.the Small Business Administration definitions
c. whether the business is an Internet based one or not
d. the risk taking or re-invention of a business vs. someone who "simply" starts a
Q. Which of the following was NOT one of the classifications of entrepreneurs presented inour text?
a. Franchise entrepreneur
b. Classic entrepreneur
c. Multipreneur
d. Intrapreneur
Q. The primary reason entrepeneurs start companies is to:
a. prove they could do it
b. recover from a layoff
c. create something new
d. make money
Q. One study found that entrepreneurs tend to demonstrate all of the following traits except:
a. opinionated
b. emotionally aloof
c. calm
d. focused
Q. The technical characteristics of the small business would include all of the followingexcept:
a. independently managed
b. owned by an individual or a small group of investors
c. based locally, even though the market might be widespread
d. significant influence in its industry
Q. Which of the following might be termed a disadvantage faced by the small business?
a. greater flexibility
b. b.greater ability to serve specialized markets
c. extreme personal commitment of the owner
d. more personal service
Q. Key features of a well written business plan would include all of the following except:
a. financial plan
b. description of the product
c. an analysis of the market
d. a review of the advertising firms analyzed
Q. Which of the following is not a main element of the project management process?
a. Estimation.
b. Schedule.
c. Monitor.
d. Systems design.
Q. Which of the following is not a main project objective?
a. Time.
b. Structure.
c. Quality.
d. Cost.