e n produ,t or ~crvlcc IJca 41,pc311 kl

1 , "'"""
IV .-\n nruh ~,~ 1h.,1 Jclcnnone~ lh,· ,:ki;rc ' __, h od ·t
. - c:.ourCC"3 ncccs s.tl'}' In pruuuc1 t c JU' Ill: tJf
r- •tt'Jllt.tl cu.<hl!llC~ .,ml ,J..-rllihc\ lhC r
rnw:i.lc: tire s.·n kc i~ rcfcrc.:J 11, "-" _ ~~
:a. pmJUC I <>r ~I'\ ice (,:;i51h:ht) Qn.11ys1~
b_ t,u,;,nc~'< prollt1I) fl'"!!
.: b1l$ llll.:l,~ pl:in :tn,,Jr~is
J finn:,.,,.,J frn~ilnl11y nnalyM5

:l•l. nu: linnn,;l.:,J (i:0~1h1IH}' anatp,s wl.c~ thcsc aspc.:.1s into con~idcrn1io11:. _ _ __ __
tL c::ip1i.1l rcquircmc-nts, liumnn re.sources. unJ rclurn on invcstmenl ~
b r,1p11al l'\:quircmcnts, c~UmJ1cd cnmmi;s, .ind 1clurn on invc~lmc nl ~
c. c.ip,11111cquircmcnts, l!.\tim;itcd cnmings, m,d rc1urn on sales
d. cupiuil rc:quir.,mcnts, c:.1intt11cJ caminss, nnJ rdum on owncr's cquity

:! I. A business pl:tn is a wri11cn summary of.._____ _ _ ___ ______

a. an cnin.:pr..:ncur's proposed busincs~ venture.

b. 3 busrncss , ·enltJrc's operational, financi:il, and marketing Jclails.
u. the skills ;ind abilhks of a business venturc's managers.
d. All of the abov.,,,,,,

22. A business plan;_ _ __ __ _ __ _ __ _ __ __

a. is a valuoble managerial tool tlmt helps an entrepreneur focus on developing a
course for the business in the future.
b. is a ,1aluabh: cool for co11\'i11cing lenders or investors co put money into the business.
c. forces an entrepreneur Lo think a business idea through. considering both its positive
and its negative a.sp«l'>.
d. All of the above. . ,
 3,1 An .,~plomuu,in r,f how ihe pri,Ju-t "tll i,., <L"'1ributed 1$ c.-intaincd \\:th:n 11,~
~~ctnm ,.,, thr bu<rnc.>5 pl.tn 4
_

il 1.h:~tT1ruu.1n <•I lhc prod- c

h. mnrkctini; ~trntcgy . . . .
U, cnmf¾":hll v.: 1111.11) ~IS

ti h11,mt•.n :.:1r.HcS)

11\ The 11111si comrnon r.•,,.on cucJ b) ll.lnl ~ for r<Jcclln& Mn,111 bu,in~~s 1c;ans 1s. ___
:i. poar cr.,Ji1 h1~1or> ~

b. umfll1cor1111lu,111<111 nn<I 1,1<, 111u,•h ,lcht ~

.: la.:~ ur' n,lla1.-r.1I
d. 1n;.11fnc1cnl c,,~h flo" 11r f""" rrol1t.1hl1t)

J7 Lilly w,tl b.- prc.s cnunll he, husu,~.'-' plJn h• 11-•knll,ll lcntlets :ind tn\c~t,11 ~ ~••tin
\Vhi,h uf tJ,c followoni 1$ ,mt""" ,,f the ~ugj,!c,t<:J helpful 11r, l,>1 pr~cntmi; the bU$tnC>,
pl.ua'>_ _ _ _ _ _ _ _ _ __
o She should tfcm,m~1r.11c cnth,m.1,m for the ,cntun: but .t-.:•lJ l-..:1.,•mms
•l' crc:nnrir,n,1I ahl1111 ii
h. Sh.: shuul,I use, 1su.1I 111,h lo nml..c II c.1s1c1 lt'r pc,•plc 111 fol111"' her p1c,cntlt1<Jn
r: She ~,l(luld a,1L1iJ fCrtmi; c;iu~ht up 111 hkl much Jc1l1I 1n c.u ly mc.,11ne.s \\llh
potenrlnl lcn.:krs ;ind inwst,'.I~
J

.~S .\ftcr r n:i:c:1111111: her business pl.in tu .1 i;n,up of PQtentiJI l.:n.kn and in\·cstors. an
cn:rr:rrc:nt'ur sh.iuJJ . ____________
J. sit NCI. and w.lit !o h.:ar frc,m th-,s~ \,ho m:~ht t-.: intcrc:stc:d in lhc ,c:ntu:c:
b ce>mlu.:t ere.in ctk.'Cli.S on J.111'(,r.mlr.Jl lcnJ..--rs :ind im·cston
c:. W.C: .1 rro.idl\'C :tppn-..i.:h t.>y l-vll.n,,!li~ i :h c:-.·ay potential lcdcr mid in,;cstor

hl woom she maLcs a prc,cnt.1tion.. t,"

J. ~of~ abo,c.
 . II ...,, s1hkn1:11U1cr.
d. 11pcrn11ni; m ll sv1:1ll y rc.-,,..n
c t ,,mrkct rcscarcll h J assist in m11k_in1t informed
\ 'our tric11d h~, J cc,,kd to c,m du ~ .
52 • ~ • h .• • \\'hnt shnuld you n.:cummcnJ ai the rust step in the
dco,sions ,cir !11~ sma 11 u:;mess. • ·
m.trko:t rcscnrch p.1ucc.s:<'?'_ _ _ _ _ _ _ _ _ _ __ _ _ __

n.. Collect dntrt. -~

b. 0<1finc the o hjcc11vc . .r
~- Pcs,gn rhc re~.:arcll.
d. Dcrcrm fnc the rdc:vnnl infommt ion.

53. S<•lid cmsh manngcmcn1 c:nublcs n business owner 10:: _ _ _ _ _ __ _ _ _ _ __

a. aJcquarcly meet the cash <lcmands orthe business.

b. nvold retain.ing unnecessarily large cnsh baloncc:1.
c:. !<lrctch 1he profit-generating power o f each dollar the bu~incss owns.

J . All of the above. . ,

54. Madum Christn O~ci-Mcnsab borrowed monc~· from n bank to build up her itwcntory
supply for the upcoming \Vorld Cup sen.~on, her busiest time of the ycor. At the cnd of
1

the season. she repays the money she harrowed. This entrepreneur was using
_ _ _ _ _ Cilpit:il..____ _ __ __ ______ _

:1 tixcd
b. gro"'1h _ . . .
c. working .,.....
li. robust

55. T he primary ad\·ant.ige of equity capit.'ll is:_ _ __ __ _ __ __ _ _ _

ii. its lower interest rate.
h. that it is readily a"aiJablc: to a large number o f entrepreneurs from a variety of

lenders. ~
c. that it does not ha,•c: to be repaid like a loan does ~
d. that it does POI appear on a compan~,.s balance sheet.
 69.
.
The prHTHLI") purpose o '
(a business plan is to·------- --
a11rac t lcnd..-r< nnd irl\ cstors . ,
"· cornp·in y publil'.
b. c:nablc an cntrepr~ncur to wke her • . . , . ~tra lc"Y for success.
. . s fut ure courso.: and J,:v1 s111g :J :. "'
c. CUJd.: n com pan) b) char1111g IL I ·g·n ··d 10 protc:c t le nders ond
- ircmcnts t cs• "
d rr1c01 Unnk of Ghru,o and other lcanl rcqu
lnvc-s1o r1'

70 n,c second <'S s~111ial purpose for creating o bus ino.: ss plan i~: - - - - - - - ..
. . . fi turc co u rse nnd devi sing a
a. 10 guide th,• operation of the compan y b) charting 115 u

SlralCg) for foll O\\ ing it. ~

h 10 nnrnc t lenders and investors . ......
c. to tile witJ1 the Bank of Cihwm before n public stock offering.
d. w :ittrac1polential man:igers and employees to run the ne\\ vi:n turc.

71 The fo llowing arc the four (4) essential criteria that an identified opp()rtunity should
4uali/)' before investi ng tim e, resources and fund s.
a. Atlractivcness, anchored in a product or service. timeliness and durnbilit)
h A11rac1iveness. 1101 ni:ccssaril y a product or sen•ice. should be accepted b) forn ily
and friends and should he a service onl)
c. :,Jorie of the abo\ c

d Attrac:tivcness. sen·icc or product. have moni:y to fund the ()pportunit y and clurubl~·

7'}., The following ore some of the key sources of funding a business idea
a. Family nnd friends
b. Angel inv,!.. c;t ors

c Debt, equ ity and fami ly and friends

d. ,\ II of the ahove . .
 Thi.! key. 10
• cho<>.,ng
, • th"flJ;hl
· fonn ,,1 u\\nc1>l11p 1, _
"· ,:nv,,-u,nmg '"been., >·ou, bus[~ .,.,u
he Ill IO ,c~rs
b. unJaslundma.. rlic c.,L...• rac1cr1:,llc~
, t•f .:a~ h · • ,nJ i,. 11o"sni,;
• h,,w they .,lk,t )v•n
hu,-incss 11ml ....
, ,.rsun.i1 cu• .:1bn.s1~ne1.~.
c. forming cnhcr an S corp.>ralttm ur a lim1t<:J lo11bf11t)' .:11111p~11y ,i11ce- tho,) iu~ ihc
I,
only forms 1h111 offer o,,n..-rs li.ito1l11y pro1w 11vn
d. lrrclcvan1 since C'ht,osrni; n fo,m of owncr, hip "mcrcl>· ll 1cchrucali1y ,,nJ h:.s 1111\.:
lhlpllCI Oil the busin.:s.< :iml ,ts (l\\1Wr(s).

4 0. l'hc most common form ofbu,111css o"ncr~l11pll1~1i, :1\so the , ,mph:st to cTcuic l!I lhc._

a. sole prl>prictorshit...., . .
b. pnru,.,rsbip. ~
c. corporation.
d. S corporation.

41 . 1111: m05t cri11c11I disodvant;ige of the ~olc prop•1c1orslur is:.____ _ _ __ _

o. thc ov.'l'ler' s unlimited p.:rsonnl liability. _ ,

b. limited access to cap11al.
c. lack of continuity.
d lim11cd skills and abilities of the o,,ucr.

42. l'robubly the most impurt:int reason to ha"c a p:11tnersh1p asi-ccmcnt is that:_ _ _ __
a. ii identifies the name of 1J1c pn.rtncrslup :md protects that t\.11111: !'rum infnngcmo:nt by
others.
b. ii states the lo.:3lion and the purpos.: of the business.
c. it determines how the partnership anJ the partners will paJ UlXc:S.
d. it resol\'cs potential suuices of conflict that, if 001 Jddresscd in ad..-ance, co11IJ later
result in partnership ballles anJ dissolution of an otb.-f', ise successful busint:5.S"
 ld J hu\lnc,s " "nc r Mk n lnmlidnte 11111
SO \\'l11ch of 1hc.- follO\\tng t~pcs of quc,,;i,on ) shou
Jub lnlcl"\ oc\\ ·•

a Quc )llon ~ calling for " ye, or 11t1" OIIS\\Cr)

b ()ue ,t,o n, ahou1 the candrclm c\ reh11mu
, bdi cf)
requ ire upc n-cn dcd nnsw crs - -
c Qul-,,l1o ns bJ.Sed l•n on-the-r oh ...._cn ~rus th.it
s. -, hnr11c1eri s11c ,. nnd t':unrl ) ltf..:
d ()uc~uon, about 1hc c.~ndid111e'< phy~i.:a l trnit

1111g In .1 ccntr:il hu<incs, J1'1ric1 '

81 \\'h1...!1 of the fvll o" ,ng i~ an ru!_vnnrnge o f lo.:n
:i . I O\\ rent
~
b. and nhun.lnnt park ing
l-:15 )

c 1 he abil11~ 10 nnrnc1l't1.<tnmcrs fmm 1hc

entire 11uding (11'1.'0 . . , . . -

J . Mndcrotc to low k"c b of competit11, n

rmlo11 for an cnlrcprc ncu r eva luating ,1

IC \\'h id, o f 1hc following is nn impon:mt cons1dc
)hOpJ>i ng mall or .:cntl'r luco tion''
a. In term ) nf cmtc,mer dem 11J!rnph1cs.
is the mall or ccnto:r u goo d ti t for Ill ) pro d uch
ic le iraffic docs the mal l o r cen ter
ur sen ice) " ll,1w n,uc h 1001 trnffic nnJ veh
gen n,,t c'?
1cna111s " I< th,m : a gnn d lit for m)
b. Wh o .,re the 01her tcna111s·• 1 he anchor
produl'tS and services'!
c. What arc the moll's or ccnlN's , JCOJ le) nm!
turn over rote~·.•

d All of1h c a'ttove. ,

81 _ _ _ _ b the logi cal nrmngcrncnr o f the

physical fo,·ilitics in II busincS$ 11101
lucll\ ii). and h1g hrr sales
eon1nbu1c~ to efficient opcnuion~. incn:O)cJ pro<
a I he Index of Ret ail S:11umt wn
h L!l) OUI -

c Log1s11, ~
ll The Sal~ , Col l\crs ion lndcA
 \Vha t factors can d..,,,1,
'..., ica11 ·Y affect a com pa11 y' s cash flo" ? _ _ _ _ __
a. Increased competition
b. Economic swings

l . Normal seasonal variations

d. All orlhe above . ,

?U. Small busmc:sses ~elling on credit lind 1ho1· ______

a. it is relativel y inexpensive ond i1 is simple.
b. it is expensive. requires a great dcul of cffon , and II is risky. -
c . ii is cssc111iall) borrowing 1111111c) from thc cust.llncr.
d. many can gc:1 b) ,, ithout sel ling on .:rcdil bccuusc: their busincs.~ customers do n111
ex pect 10 u~c cn:J11.

1) I \Vh ich o1 the lolhi,, mg is I rue ah.1u1 111, cntory m:inngcmcnt for the small bu!>111css
owner'? _ __
a Mo!>I ~nwll hu!>illc~s ll\\lll'r. h.1,c 1111ncd lo 1cchnol0g) and computer ~prcadsh.:ets
IO nch1c,,: m11, 1mum cllic1c11c) 111 m.111ng111g it.

b Inventory 1s the largest cap11al 111vc\lmcn1. tist hus1ncsscs but few O\\ ncrs use
,my formal means for managing 11. ~
c. In ventor)' is gc ncr.1II) hi ghly liquid nnd can be ca~il) mortgaged 10 a bank for
immediate cash If nccdcd
d Inventor) ) iclds a return of abt1u1 25 percent for manufacturing lirm~ but nothing
for scr\ ice companies.

9:::'. In order 10 reach prnfit objectives. cntrcpreni:urs must bt: 3\\Dr.: of their fim,~· : ____
a current ratio and liobili11es.
b. fixed assets and owner's equity
..:. asset,; and liabilities.
u. overall linancial position and an~ changes in the financial status.
 •·rir•P vou bu• mc~s ,n II c:cnlrQI \iu.unc~~
\\'hieb or1hc (olhm'ing ;uc d1<uJ,-.m1,1gcJ of I""" •o , •
111:-..ulut"_
n lnr~n~c tc1111nct1111)n
b I lri:h rcn1JI 1:111: s

c. l'r,1nic c1111pc.11on ond inadcqu.11c p111long foc1l11ic:s

d . .•\JI of the abu,c -

t>.2. \\'hich uf the folluw111g is 4n unpon~n• cu~i1krouon fur an cnircprcneur cv:,luauni: 8

~hopp111g mall or ccmcr locnrion?

a. In terms of cuswmcr dcmui:rnplu<:l, 1$ tl1c 11lllll or center n good fit for my prl'dua.~
or sen·iccs? How mud, fo<tl traffic i,nd vch1clc traffic doi:S lhc mall or center
gcncrutc?
b. Who nrc the other tcnonrs? The nnchor lcnunts? Is lhcrc a guod 61 for my rroducL~
and scrvicc:s?
!/. Whu1 arc the: mall's or center's ,,o.c:MCY nnd turnover rates?
d. All of the :ibovc . .

63. To bc c ffccti\'C. 11 business sign should:._ _ _ _ _ __ _ _ _ __

n. be large enough for ('lilSSCrshy to rc11d from a d1su.ncc.
I,, contain n rncssai;c 1ha1 is short, simphi. and clcnr.
c. be properly illuminated so that it is lc:i;it.,I.: both dn~· and ni~t.
d. All of the abo\te. .

6'4. Th~ aggrega1ion of factors tha1 sets 3 company 3par1 from its compc:titors and gi,·cs it•
unique position in the market sup,:rior to i1s c.ompetition is iis:_ _ _ _ _ _ _ __
a. mission swcmcn1. ,
b. comperiti,c advanuge.
c. compctith·c profile.
d. strategic plan.
 Successful markc1ing· require•. h,., ·
•" •• ~1nc.ss o,,nc:r to ·
... undcr..land target cu,-1 ,
-~ omcr.; needs. demands, anJ wanh
---------
b o ffer cus1omcrs od
· pr UCIS nnd ~ervice, thnl wi ll s.1t1sf) thc,r need.,, dcmanLI, . anJ
wan ls.

c. provide customers with service. con,·cnicncc, 3nd \'n luc so 1h011hc) w, 11 rc111rn
d. All o f the ahovc ,

98. ·n1c due diligcncc process of annly,dni: nnd cvnlunring on cx1s1ing business: _

a nmy be JUst ns lime consuming LI> lhc dcwk, pmcnl of n compn:hl.'.nSI\ c bu~mci., ~
plun for a ; 1un-up.
b. he lps IO 1k1crminc if lhc compan~ " 111 gcncf'Jlc i,11flic1cn1 .::1., h lo pa) lor Iii.el f .ind
leave you "i1h u ,uiu,b k ro1c of rcium un ) ,,ur 111,•cs1mcn1.
c helps 10 J ctcrminc \\h111 1hc rnmr••n~ ·s putcnt r,,1 tor , ucccs; i,
d ,\ll <> l 1hc ~ho, e

I)<)
ro ensure u ,111001h 1mn~111,111 \\hen bU)III); JII c\loting bu,111..-s,, n hu)cr shC1uld · I...

a. c11mm11111cn1c \\ilh cmpl,1~cc~ 111 rcdu,c 1hcir unc.,11nin1~ .111d a11"cl~

h bc tmncsl "1th c~is1ing ~ yrcs 11rou1 up,ommg d 1Jng<'~ ,,nJ pluns for lhc
COOlJ)0ll) ·, fulur,· . . ,
c. consider n.~king 1hc sel ler lu , 111~ on nnJ ,crv.: .i.," wn,u lt.inl until 1hc u,111,111t1n 1>

C(1111f1lclc.

d. All of the ubovc

l rlO The most common reasons O\\ncrs of ,mall- and m.cJi111n -si1cd busm~s~t"S gl\ .: t.>r
se lli ng 1J1cir bus111csscs arc _ _ __

3 need for rnnney and tow ~ n on in\','Stmenl.

b. boredom und burnoul. . . . .
c. low re1um on invcs11ncn1 nnd hurnoul
d. grcoler opportunities working for ,nmcon,· clsc nnd 11,_, return ,m in,·c,101.:111
 \Vhrch nf lhc fullo"i"!! i, lruc regarding lurin g mi srnkc.~·•
u... I Jirmc mist.11-.cs .ire c., ,lt.'nshc
h Cn111r~1111,· ,. r11ihrm11 I pro.:cs•<'~ nm,· lead In unprcJr crablc o111cnrnc~
,· Smul l hu\fnc,..e, n,c mnsl likd~ "' ntnkc hirin g mi"111ke, because lhC) lad . 1hc
hurn an n:sourcc.~ experts 1111 d tI1c d 1sc1p I.111..:u
,.•, hlrin•·
., 1uoccdurc, l.irgc cnm panic,

J
lwvc

1\II ,1f 1/u: above.,,,

~s Whic h nl ,1,_. /i• llow ing is ""' vn<' nf rhc virnl rnsks smnll hus1nl.'~s lender~ musr
perform?
n. I lire rhc righr cmployc,·s 10 rhc ream and conslnn tl) improve rhcir skill ~.
h Crem e :1 cu lture fur n:r:rining cmplll) CCS.
c. Pi nn for •·passing 1hc ton:h " to the nc.xt generation of lcmlcrship.
d. l\:cl'Jl nexiblc aml do 1101 be concerned about preparing lo r the next gcncrallon of
m o11ngc1m:nt. . ,

7oJ. \\'hicl1of rhe following :m: s uggested guidc:li nes for small husincss managers to a, oid
mnking cc1stl ~ hiring mistukcs?
ti Plan and conduct an cffi:ctivc interview, dcvntc rccniiting to a strntegic position in
rhc comp,111~. and crcatc pructical job descriptions.
b. Crc.11c practical job de~criplion~ and job speci fic:11ion~ allowing you to delegate
hll'i11g 10 an entry level posit ion.
c Pl,rn and conduct an effective intervi.:w, crt·ntc rrm:tical jub descriptions :.1J1d job
!>peci/iC(tlions. and make 1hc decision as quickl y ,1s possible. -
d Crcare practical job descriptions and job spccitication!> and check refercnc~-s us
lime 111/ov,s.
,11 MTN LTE 4:43 PM ~ 34% ■- 7•
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3. All of the following are 1 point

characteristics of the typical

entrepreneur except: *

Q a. confidence in his/her ability to succeed.

Q b. value of money over achievement. . ,

@ c. desire for immediate feedback.

Q d. a future orientation.

14. The ability to develop new ideas 1 point

and to discover new ways of looking

at problems and opportunities is
called: *

Q a. entrepreneurship.

@ b. innovation .. ,

Q c. creativity.

I Q d. creative thinking.
ct WhatsApp •• LTE 9:05 AM ~ 78% - ·
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27. A business plan is a written summary 1/1

of: *

a. an entrepreneur's proposed business

0 venture.

b. a business venture's operational,

0 financial, and marketing details.

c. the skills and abilities of a business

0 venture·s managers .

'i' d. All of the ~

~ above. .,_,-

28. A business plan: * 1/ 1

is a valuable managerial tool that helps an

Q entrepreneur focus on developing a course
for the business in the future.

b. is a valuable tool for convincing lenders

0 or investors to put money Into the business.

c. forces an entrepreneur to think a

0 business idea through, considering both its
positive and its negative aspects.

'i' d. All of the ~

• ~ above. ~
D WhatsApp -,,

. . . .
111 LTE 4:39 PM O 36% ■
i docs.google.com
'' - •" "·
identified as a way for the typical
small business to establish a
competitive advantage? *

@ a. Lowering prices . . ,

b. Providing higher quality goods or

0 services

0 c. Improving customer service

d. Doing whatever the company does for its

0 customers better than its competitors

24. The process in which 1 point

entrepreneurs test their business

models on a small scale before
committing serious resources to
launch a business that might not work
is known as: *

0 a. business modeling

@ b. business prototyping . ,
,1 MTN LTE 4 ; 53 PM ~ 31% ■ --,,

•
i docs.google.com

•
@ d. feasibility analysis

8. Potential drawbacks of 1/ 1
entrepreneurship may include: *

a. uncertainty of income, risk, long hours.

and high stress. . ,

b. uncertainty of income. risk. easy hours.

0 and frequent vacations.

c. uncertainty of income. risk, long hours,

0 and the Immediate accumulation of wealth.

d. certainty of income. risk, long hours, and

0 high stress.

Telephone Number *

0240855999

Ill 28. A business plan: * 1/ 1

,1 MTN LTE 4:52 PM V 31% ■ ',
i docs.google.corn

10. Entrepreneurs that use their skills to 1/ 1

create a profitable business that is
designed to achieve social and
environmental goals for the common
good are known as: "

@ a. social entrepreneurs. . , ,

Q b. not-for-profit entrepreneurs.

Q c. copreneurs.

Q d. serial entrepreneurs .

Name: *

Abigail Owusu- Ansah

20. The aggregation of factors that sets a1I1

company apart from its competitors and
gives it a unique position in the market
• superior to its competition is its: *
,, MTN LTE 4:52 PM ~ 31% ■ '
i docs.google.com

13. All of the following are symptoms of 1/ 1

ten deadly mistakes entrepreneurs make
EXCEPT: *

Q a. believing a product will sell itself.

@ b. figuring things out as they go."

Q c. extending credit j ust to make a sale.

Q d. tempering opt imism with reality.

22. A clearly defined vision helps a 1/ 1

company in which of the following ways?
*

Q a. Provides direction

Q b. Determines decisions

Q c. Motivates people

@ d. All of the above . ,

' I) l!I 0 H· .al EA 95%. 3:47 PM

docs.google.com/f orms/d/ el 1 FAlpQ LSeG IWI CtAe6 ••

•

Q d. product or service feasibility analysis

27. A business plan is a written summary of: • 1 po1n1

0 a. an entrepreneur's proposed business venture.

b. a business venture's operational, financial , and

0 marketing details.

0 c. the skills and abilities of a business venture·s managers.

@ d. All of the above. .,

Programme •

Q Nursing Regular

@ Midwifery Weekend & Regualar

23. The process of determining whether an 1 point

• entrepreneur"s idea is a viable foundation for

creating a successful business is known as a: •

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5. Entrepreneurs typically possess: * 0/1

0 a. the ability to easily access capital.

b. a set of unique skills that is usually

0 accompanied by advanced degrees in
several areas.

c. a high level of commitment, have a

@

0
tolerance for ambiguity, are flexible and
tenacious.

d. specialized technical abilities

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6. In addition to the opportunity to create 1/1
their own destiny and enjoy what they
do. entrepreneurs also benefit from the
ability to: *

a. earn tremendous wealth without risk and

0 uncertainty.

'i' b. make a difference in an area important to.......a

\::!!,/ them and be recognized for those efforts. . . . . . .

c. create wealth without providing true

0 value.

,,--.... d. exploit the opportunities that the free

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7. In a large organization, an individual 1/ 1

may be stifled and limited by a wide
variety of factors. However, by owning
one's own business, the only limits are
one's own creativity, talent, and
determination. In this sense, small
business ownership offers the advantage
of the: *

@ a. opportunity to reach one's full potential.

. ,

0 b. opportunity to reap unlimited profits.

0 c. chance t o learn from others' mistakes .

0 d. ability to accumulate certain wealth.

8. Potential drawbacks of 1/ 1
entrepreneurship may include: *

a. uncertainty of income, risk, long hours,.,,

and high stress.

b. uncertainty of income. risk. easy hours,

0 and frequent vacations.

c. uncertainty of income. risk, long hours,

Ill 0 and the immediate accumulation of wealth.
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20. The aggregation of factors that sets a1/1

company apart from its competitors and
gives it a unique position in the market
superior to its competition is its: *

Q a. mission statement.

@ b. competitive advantage.

Q c. competitive profile.

Q d. strategic plan

23. The process of determining whether 1/1

an entrepreneur's idea is a viable
foundation for creating a successful
business is known as a: *

0 a. business plan

0 b. strategic analysis

0 c. industry analysis

@ d. feasibility analysis ..,

..
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3. All of the following are characteristics 1/1

of the typical entrepreneur except: *

Q a. confidence in his/her ability to succeed.

@ b. value of money over achievement..,

Q c. desire for immediate feedback.

Q d. a future orientation.

4. Entrepreneurs are characterized by: * 1/ 1

Q a. skill at organizing.

Q b. desire for immediate feedback.

Q c. high energy levels.

@ d. all of the above. . ,

5. Entrepreneurs typically possess: * 0/1

Ill Q a. the ability to easily access capital.