Chapter 01: Introduction
Q1.Which of the following is the most important for the entrepreneur, while starting a new venture, to make an assessment of?
Risk Correct Answer
Q2.What are the four types of Innovation?
None of the above Correct Answer
Q3.The entrepreneur is able to recognize the commercial potential of the invention and organize the capital, talent, and other resources that turn an invention into a commercially viable
Innovation Correct Answer
Q4.What is the process by which individuals pursue opportunities without regard to resources they currently control?
Entrepreneurship Correct Answer
Q5.Kumar Manglam Birla is what type of Entrepreneur?
Second Generation Entrepreneur Correct Answer
Q6.If an entrepreneur does not have the willingness to assume risk, entrepreneurship would
never succeed Correct Answer
Q7.What are the four types of Innovation?
None of the above Correct Answer
Q8.Role of Entrepreneurship in Economic Development includes:
All the above Correct Answer
Q9.Entrepreneurship involves all except
follow the market leader Correct Answer
Q10.Entrepreneurship is the ________ activity of an individual or a group of individuals who seek to earn profits through the production and distribution of economic goods and services
purposeful Correct Answer
Q11.User innovation is:
Less likely than manufacturer innovation Correct Answer
Q12.Why should an entrepreneur do a feasibility study for starting a new venture?
To see if there are possible barriers to success Correct Answer
Q13.In ________ economy, both the government and the private entrepreneurs played an equally important role.
mixed Correct Answer
Q14.Which one is not the process of creativity?
Establish Vision Correct Answer
Q15.In________ , the state played the role of the entrepreneur.
capitalistic
socialist Correct Answer
Chapter 02: Woman Entrepreneurship
Q1.According to a Wall Street Journal survey, which of the following was identified as the biggest obstacle to growth for African-American entrepreneurs?
Lack of access to capital and credit Correct Answer
Q2.Women-owned businesses may be smaller than those owned by men because they:
cannot find good quality training programs.
do not have equal access to capital. Correct Answer
Q3.One study found that women defined success as:
having control over their destinies. Correct Answer
Q4.A women entrepreneur is supposed to have a minimum financial interest in share capital of entrepreneur’s enterprise:
51 per cent Correct Answer
Q5.Which state has the highest number of women entrepreneurs in India
Tamil Nadu Correct Answer
Q6.Many women entrepreneurs who desire balance between work and home discover that:
It is easy to feel overwhelmed by the responsibilities of a young company and young children.
When a business is very new, it is often easier to get away when necessary.
When a new business begins to grow quickly, flexibility often disappears.
All of the above Correct Answer
Q7.Women entrepreneurs are having an impact:
worldwide. Correct Answer
Q8.Female entrepreneurs differ from male entrepreneurs in terms of following except: Select collect option:
Motivation Correct Answer
Q9.Women are now starting new ventures at time(s) the rate of men.
three Correct Answer
Q10.___________ implies that women entrepreneurs are now economically independent and take decisions independently.
Improved quality life Correct Answer
Q11.Among Hispanic groups, which subgroup owned the greatest number of firms?
Mexicans Correct Answer
Q12.Many of the women-owned businesses are concentrated in the:
retail and service sector. Correct Answer
Q13.The economic empowerment of women is being regarded these days as a Sine-quo-non of progress for a country
Sine-quo-non Correct Answer
Q14.The term "minority entrepreneur" does NOT include:
those who interact among people sharing common national background or migration experience.
appalachian Mountain businessmen. Correct Answer
Q15.____ implies that women entrepreneurs are now economically independent and take decisions independently.
Improved quality life Correct Answer
Chapter 03: creating and starting the ventures
Q1.The most cited source of new business ideas is
brainstorming.
in-depth understanding of industry/profession. Correct Answer
Q2.Entrepreneur actually starts setting up of an enterprise by
Directing Correct Answer
Q3.Which of the following is an internal factor that influences entrepreneurs?
Technological Capacity Correct Answer
Q4.Which one of the following is the step involved in setting up a new enterprises?
Setting up infrastructure Correct Answer
Q5.The opposite of "opportunity thinking" is:
obstacle thinking Correct Answer
Q6.Factors contribute to the creation of new venture EXCEPT:
High interest rates Correct Answer
Q7.Which one of the factors should be considered while assessing the location for business?
Parking
Access from roadways to facility
Delivery rates
All of the given options Correct Answer
Q8.An entrepreneurial team is:
a group of experienced people who join together to develop and market a new product. Correct Answer
Q9.Robert Vadera is a business owner who works from home as a freelance video producer. He really enjoys his work, but isn’t looking to “set the world on fire” with his company. He just wants to make a good living and spend time with his family when he can. Vadera would be classified as a(n)
micropreneur. Correct Answer
Q10.Felix is an entrepreneur. At this stage of his company , his main concerns are do we have enough customers and money. What stage of growth is Felix’s company in?
Start-up Correct Answer
Q11.Which of these refer to an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner?
Franchising Correct Answer
Q12.______ process of creating incremental wealth is called Entrepreneurship.
Dynamic Correct Answer
Q13.Which of the following is a reason why a person might prefer to purchase a franchise rather than open a completely new business?
ability to benefit from previous experience. Correct Answer
Q14.A group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits is known as
a venture capital firm. Correct Answer
Q15.Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking to the ______ to start new businesses.
Internet Correct Answer
Chapter 04: Setting up New Venture
Q1.If the investment in fixed assets or plant and machinery does not exceed one crore rupees, then that particular firm come s under the category of
Small scale industry Correct Answer
Q2.Easy to start, Owner is his/her own boss, Owner keeps all the profits - These are advantages of what type of business
Franchise
Corporation
Parntership
Sole Proprietorship Correct Answer
Q3.What is the advantage of corporations?
limited liability Correct Answer
Q4.Nike, IBM, and Google are examples of
corporation Correct Answer
Q5.The Dow Jones industrial average swept past 12,000 for the first time. Investors are increasingly optimistic about corporate earnings and the economy. This achievement MOST likely involved which type of business organization?
corporation Correct Answer
Q6.Owned by many people - stockholders, but treated by the law as one person
Corporation Correct Answer
Q7.A(n) _____________ is a form of business organization in which two or more business owners share the management and risk of the business
General partnership Correct Answer
Q8.Who plays an important role in all three business organizations?
Entrepreneurs Correct Answer
Q9.Investment in equipments service sector in small scale industry should be
10Lacs – 2 Crores Correct Answer
Q10.Investment in equipments service sector in Micro scale industry should be
Up to 10 Lacs Correct Answer
Q11.In which type of organization does one person take all the risks?
proprietorship Correct Answer
Q12.Which ownership type has unlimited liability (owner has full responsibility for company's debt and can lose entire investment as well as personal assets).
Sole Proprietorship Correct Answer
Q13.Business owned by one person
sole proprietorship Correct Answer
Q14.Law firms, medical practices, and auto body repair shops are examples of what type of ownership
partnership Correct Answer
Q15.Which are the disadvantages of a partnership?
Partnership must be reorganized if one partner quits
Partners share unlimited liability
Partners may not get along
All of these are correct Correct Answer
Chapter 05: Entrepreneurial Support
Q1.IFCI was established in the year___________
1984 Correct Answer
Q2.Institutional agencies grant financial assistance to small scale industries for _________.
participation in equity capital only.
acquisition of fixed assets.
working capital assistance.
all of the above. Correct Answer
Q3.National Institute of Entrepreneurship and Small Business Development (NIESBUD)is situated where ?
Noida Correct Answer
Q4.SIDC was set up under the__________
Companies Act. Correct Answer
Q5.DIC is headed by General Manager in the rank of ___________.
Joint Director of industries. Correct Answer
Q6.MSME Ministry proposed inclusion of khadi spinning in ________ recently ?
National Rural Employment Guarantee Act (NREGA) Correct Answer
Q7.The Head Office of the Coir Board is at Ernakulam and the Reasearh cum Training Office is in ?
Kerala Correct Answer
Q8.Mahatma Gandhi Institute for Rural Industrialisation (MGIRI)
12th FYP Correct Answer
Q9.SFC Act was amended in the year __________
1972 Correct Answer
Q10.SIDO stands for____________
Small Industries Development Organization. Correct Answer
Q11.A concessional rate of interest is charged by SFC in case of__________
small scale industries.
units in backward areas.
units set up by technical entrepreneurs
All the above. Correct Answer
Q12.The objective of Rajiv Gandhi Udyami Mitra Yojana (RGUMY) is to provide handholding support and assistance to the potential first generation entrepreneurs, in the establishment and management of the new enterprise, in dealing with various procedural and legal hurdles and in completion of various formalities required for setting up and running of the enterprise ________ it was launched in the year ?
2008 Correct Answer
Q13.KVIC ________ Khadi Village & industries commssion,formed under the Act of Parliament, 'Khadi and Village Industries Commission Act of 1956.full functioning came in april 1957.head office is in ?
Mumbai Correct Answer
Q14.National Manufacturing Competitiveness Programme (NMCP) was introduced in the year ?
2005 Correct Answer
Q15.The main function of SIDO is _________
To secure reservation of certain products for the SSIS. Correct Answer
Chapter 06: Taxation Benifits
Q1.small-scale industries (SSI), are exempted from the payment of income-tax on their profits which is subject to a maximum of ___ per cent per annum of their capital employed.
6 Correct Answer
Q2.Union Budget 2018, announced lowering of the corporate tax rate from 30% to 25% for companies with an annual turnover of up to Rs. ______
250 crore. Correct Answer
Q3.Under section 80J of the income tax act, 1961, small-scale industries are exempted from the payment of income tax on their profits at ___________.
6% p.a. Correct Answer
Q4.Rehabilitation allowance is allowed to the industrial undertaking equal to ___ percent of the amount of the deduction allowable to the enterprise.
60 Correct Answer
Q5.SSI units can send its raw materials or semi-finished material back and forth another unit for job work.
Without the payment of duty when its total turnover is below 150 lakhs. Correct Answer
Q6.Under section 35 (2AB), a weighted deduction @ ____ per cent of the expenditure incurred on in-house research and development is allowed for SSI.
200 Correct Answer
Q7.SSIs can claim deductions in respect of profits and gains (under section 80IB of Income tax Act) at ______ if the SSI unit is owned by a co-operative society
25% for first 10 years Correct Answer
Q8.SSI concessions, that is, not covered under SSI exemption
Clearances of the specified goods which are used as inputs for further manufacture of any specified goods within the factory of production of the specified goods
Clearances of strips of plastics used within the factory of production for weaving of fabrics or for manufacture of sacks or bags made of polymers of ethylene or propylene
Clearances of goods manufactured by SSI unit for captive consumption
All the above Correct Answer
Q9.Exempted small units, having turnover below 150 lakhs, which are exempt from duty,
are also exempted from provisions of registering their units with excise authorities. Correct Answer
Q10.The SSI units are ____ under excise provisions and have to follow simplified export procedures.
not covered Correct Answer
Q11.Goods manufactured by an SSI unit with the brand name of others are not eligible for SSI
concession unless,
goods are manufacture in a rural area. Correct Answer
Q12.SSIs can claim deductions in respect of profits and gains (under section 80IB of Income tax Act) at ______ if the SSI unit is owned by a company
30% for first 10 years Correct Answer
Q13.SSI exemptions are not applicable to
Watches
Automobiles
Cotton clothes
Both A and B Correct Answer
Q14.The small scale unit wishing to export has to obtain exporters code number from _________.
The Reserve Bank of India. Correct Answer
Q15.SSI exemptions are applicable to
Garments Correct Answer
Chapter 07: Innovation in Entrepreneurship
Q1.Innovative entrepreneurs may have to pay high insurance premiums due to the:
The need to protect patents Correct Answer
Q2.Networking by innovative entrepreneurs may be most encouraged by?
Business incubators Correct Answer
Q3.An advantage of the small firm in the innovation process?
Ability of the entrepreneur to act on new ideas or product development Correct Answer
Q4.Knowledge-based innovation is the “______” of entrepreneurship.
super-star Correct Answer
Q5.An innovation, to be effective, has to be ____ and it has to be ____.
simple, focused Correct Answer
Q6.Innovative small firms are more likely in:
Knowledge-based sectors Correct Answer
Q7.Which one of the following actions by an entrepreneur is most likely to contribute to creative destruction?
Development of a new product Correct Answer
Q8.The most likely problem encountered by innovative entrepreneurs in raising finance is:
The exhaustion of personal equity in R&D Correct Answer
Q9.External links may provide incentives to:
Introduce improvements to products Correct Answer
Q10.Knowledge-based innovation has the ____ lead time of all innovations.
longest Correct Answer
Q11.Innovative entrepreneurs face special issues in raising:
Seed capital Correct Answer
Q12.Firms located on science parks compared to those located off science parks are:
No more or less innovative Correct Answer
Q13.Schumpeter considered that innovative entrepreneurs would:
Be absorbed within large innovative firms Correct Answer
Q14.Sources for innovative opportunity prescribed by Peter Drucker are
Demographics
Changes in perception, mood, and meaning
New knowledge
All the above Correct Answer
Q15.Which one is not a source for innovative opportunity prescribed by Peter Drucker
Change in organization structure Correct Answer
Chapter 8: Business Incubation
Q1.Which is not a stage of business incubation development:
Business incubation as outsourced service Correct Answer
Q2.The incubatees may be:
Trainees in a business development programme whose innovative ideas attract the financing eye of the incubating institution
Individuals with innovative ideas and a supporting business concept and an accompanying business plan
Businesses that have gone through the startup phase but now need support to reach proliferation but lack the know-how or financial resources
All the above Correct Answer
Q3.National Science and Technology Entrepreneurship Development Board (NSTEDB) launched the Technology Business Incubators (TBI) in the beginning of _____.
2000 Correct Answer
Q4.Incubation program ensures that an individual seeking to start or promote the growth of their enterprise has easy access to ________ .
The knowledge, experience in management, and financial resources. Correct Answer
Q5.Business incubation programs are often sponsored by all of the following except
entrepreneurs Correct Answer
Q6.An effective feasibility study, which will help incubator determine whether the proposed project has all the factors crucial to an incubator’s success include:
A solid market and a sound financial base
Strong community support
A policy support perspective to attract government linkage
All the above Correct Answer
Q7.Business incubators originated in ______
United States of America Correct Answer
Q8.Incubators carefully screen potential businesses because their space, equipment, and finances are _______ .
Limited Correct Answer
Q9.There are approximately ______ business incubators nationwide, according to the National Business Incubation Association.
900 Correct Answer
Q10.A Business Incubator is a facility designed to assist businesses to become _____ and _____ during their incubation period.
Established, profitable Correct Answer
Q11.National Science and Technology Entrepreneurship Development Board (NSTEDB) launched the Science and Technology Entrepreneurs Parks (STEP) in the early______
1980’s Correct Answer
Q12.business incubators will provide a variety of resources or resourcefulness which may include
Business Advice and Services
Networking and Mentoring
A Full Time Manager and Shared Premises
All the above Correct Answer
Q13.Companies typically spend average of two years in a business incubator, during which time they often _____ telephone, secretarial office, and production equipment expenses with other startup companies, in an effort to _____ everyone's overhead and operational costs.
Share, reduce Correct Answer
Q14.Benefits provided by Incubators to owners of startup businesses.
Their office and manufacturing space is offered at below-market rates,
their staff supplies advice and much- needed expertise in developing business and marketing plans
they helping to fund fledgling businesses.
All the above Correct Answer
Q15._________ is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services.
Business incubation Correct Answer
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