121. Abolition of Reservations was recommended by:
A. Kapoor committee
B. Nayak committee
C. AbidHussain committee
D. Gupta committee
Answer
C. AbidHussain committee
122. Kapoor Committee was constituted to assess:
A. Reservation of items
B. Investment ceiling
C. Credit delivery system
D. Government support system
Answer
D. Government support system
123. Policy of reservation was primarily initiated in
A. 1976
B. 1967
C. 1997
D. 1982
Answer
B. 1967
124. Violation of reservation policy is punishable under
A. Small Industries act
B. Consumer protection act
C. I (D & R) Act
D. None of the above
Answer
C. I (D & R) Act
125. ___ are three basic forms of franchising.
A. Sole proprietorship, partnership, and corporation
B. Product, service, and mix-format
C. Trade name, product distribution, and business format
D. Regional, local, and global
Answer
C. Trade name, product distribution, and business format
126. ___ is a document designed to detail the major characteristics of a firm.
A. Mission statement
B. Business plan
C. Executive summary
D. Marketing plan
Answer
B. Business plan
127. ___ is NOT a business plan concern of family and friend investors.
A. Amounts and schedules for returns
B. Funds use
C. Competitive advantage
D. Stability of firm
Answer
C. Competitive advantage
128. All of these are business plan concerns of bankers EXCEPT
A. Monitoring compliance.
B. Asset/collateral base.
C. Cash flow and cash cycle.
D. Long-term prospects.
Answer
A. Monitoring compliance.
129. ___ is not included in the business planning presentation types.
A. Mission
B. Elevator pitch
C. Executive summary
D. Annual objectives
Answer
D. Annual objectives
130. What is an ideal length of an elevator pitch?
A. 20 – 50 words
B. 250 – 500 words
C. 60 – 100 words
D. 5 – 10 words
Answer
C. 60 – 100 words
131. The firm’s goals and competitive advantages can be described by
A. Mission statement.
B. Vision statement.
C. Executive summary.
D. Elevator pitch.
Answer
A. Mission statement.
132. ___ is a one- to two-page overview of the business, its business model, market,expectations, and immediate goals.
A. Vision statement
B. Executive summary
C. Mission statement
D. Elevator pitch
Answer
B. Executive summary
133. The appropriate size for a business plan, where the type of business is well established is
A. 25 pages.
B. 10 pages.
C. 10 pages.
D. 40 pages.
Answer
C. 10 pages.
134. A one-page document on letterhead introducing the business plan is considered a
A. Cover letter.
B. Business plan.
C. Outline.
D. Executive summary.
Answer
A. Cover letter.
135. ___ is a product or service that is kept as a trade secret or is protected legally usingpatients, trademarks, copyright, or service mark.
A. Tagline
B. Pioneering business
C. Test marketing
D. Proprietary technology
Answer
C. Test marketing
136. ___ is NOT an idea that good marketing strategy focuses on.
A. Harvesting the business plan
B. Overall strategy your firm pursues in the market
C. The sales plan
D. The longer-term competitive plan
Answer
A. Harvesting the business plan
137. ___ 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
Answer
C. SEC filing statement
138. ___ 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
Answer
D. Test marketing
139. ___ is a firm whose product is new to the industry.
A. R & D venture
B. Pioneering business
C. New entrant business
D. Test marketing
Answer
B. Pioneering business
140. All of these are special purpose plans EXCEPT which of these?
A. Business plan
B. Screening plan
C. Invention plan
D. Informational plan
Answer
A. Business plan
141. ___ provides information on the company and critical risks to prospective businesspartners.
A. Partner plan
B. Invention plan
C. Operational plan
D. Concept plan
Answer
A. Partner plan
142. 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
Answer
C. Hit rate
143. The distinction between an “entrepreneur” and “small business owner” , if made, revolvesaround:
A. a.really nothing; they are truly one and the same
B. b.the Small Business Administration definitions
C. c.whether the business is an Internet based one or not
D. d.the risk taking or re-invention of a business vs. someone who “simply” starts a
Answer
B. b.the Small Business Administration definitions
144. 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
Answer
A. Franchise entrepreneur
145. 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
Answer
C. create something new
146. One study found that entrepreneurs tend to demonstrate all of the following traits except:
A. opinionated
B. emotionally aloof
C. calm
D. focused
Answer
A. opinionated
147. 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
Answer
B. owned by an individual or a small group of investors
148. Which of the following might be termed a disadvantage faced by the small business?
A. a.greater flexibility
B. b.greater ability to serve specialized markets
C. c.extreme personal commitment of the owner
D. d.more personal service
Answer
D. d.more personal service
149. 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
Answer
D. a review of the advertising firms analyzed
150. Which of the following is not a main element of the project management process?
A. Estimation.
B. Schedule.
C. Monitor.
D. Systems design.
Answer
D. Systems design.
151. Which of the following is not a main project objective?
A. Time.
B. Structure.
C. Quality.
D. Cost.
Answer
B. Structure.
152. Which of the following is a main PRINCE project aim?
A. Stay within budget.
B. Meet specified quantity.
C. Meet specified quality.
D. All of the above
Answer
D. All of the above
153. Which of the following is not a reason to reduce project completion time?
A. Release resources for other projects.
B. Avoid penalties for late completion.
C. Eliminate project critical path.
D. Reduce new product development time to market.
Answer
C. Eliminate project critical path.
154. Which of the following is the benefit of the network analysis approach?
A. Eliminate need for management judgement.
B. Avoid need to use structured approach.
C. Allows progress to be monitored against plan.
D. Derive error free forecasts.
Answer
C. Allows progress to be monitored against plan.
155. A project can be considered to have failed if it:
A. does not meet the users’ requirements.
B. overran significantly on estimated delivery date.
C. was significantly over budget.
D. does not meet the business requirements.
Answer
D. does not meet the business requirements.
156. Why are small businesses important to a country’s economy?
A. They give an outlet for entrepreneurs.
B. They can provide specialist support to larger companies.
C. They can be innovators of new products.
D. All the above.
Answer
D. All the above.
157. Which of the following factors is the most important in forcing U.S companies to focuson new product development and increased productivity?
A. Entrepreneurship
B. Hyper competition
C. Governmental laws
D. Organizational culture
Answer
B. Hyper competition
158. Which of the following is alternatively called corporate venturing?
A. Entrepreneurship
B. Intrapreneurship
C. Act of stating a new venture
D. Offering new products by an existing company
Answer
B. Intrapreneurship
159. Individuals influencing an entrepreneur’s career choice and style are known as which of the following?
A. Moral-support network
B. Role model
C. Professional support network
D. Support system
Answer
B. Role model
160. The activity which occurs when the new venture is started is called:
A. Motivation
B. Business skills
C. Departure point
D. Goal orientation
Answer
C. Departure point
