MCQ Questions for Entrepreneurship Development

MCQ Questions for Entrepreneurship Development Multiple-choice questions for marketing management academic and competitive exams

MCQ Questions for Entrepreneurship Development with Answers

1. The term “entrepreneur” has been derived from the word “entreprendre,” which means:
a. To give
b. To undertake
c. To choose
d. To decide
Answer: (B)

2. Entrepreneurship is a creative activity, – said by:
a. Frederick Harbison
b. B. F. Hoselitz
c. B. Higgins
d. Joseph
Answer: (d)

3. What is the hallmark of a successful entrepreneur?
a. Risk-bearing capacity
b. Persistence
c. Flexibility
d. Self-confidence
Answer: (d)

4. Which type of entrepreneur utilizes a chance to introduce a new technique or new product?
a. Innovative entrepreneur
b. Instigated entrepreneur
c. Initiative entrepreneur
d. Fabian entrepreneur
Answer: (a)

5. In which state of India is the standard of education the highest?
a. Tamil Nadu
b. Andhra Pradesh
c. Kerala
d. Karnataka
Answer: (c)

6. Which phase is the phase of real training?
a. Initial phase
b. Training phase
c. Post-training phase
d. Follow-up phase
Answer: (b)

7. “Seed Capital Scheme” is being operated by?
a. IDBI
b. SIDC
c. ICICI
d. IFCI
Answer: (a)

8. Calcutta “Y” Self-Employment Centre targets unemployed youths between?
a. 18 to 30 years
b. 16 to 25 years
c. 18 to 25 years
d. 20 to 30 years
Answer: (a)

9. In the 1995 – 96 periods what percentage of the total entrepreneurs were women entrepreneurs?
a. 10 %
b. 11.2%
c. 13%
d. 9%
Answer: (b)

10. Why are the majority of women unaware of technological developments?
a. Low-risk bearing ability
b. Low mobility
c. Lack of education
d. Low need for achievement
Answer: (c)

11. Which of the following is a remedy to solve the problems of women entrepreneurs?
a. Social attitude
b. Finance cells
c. Stiff Competition
d. Supervision
Answer: (b)

12. When was the “Yashaswini Programme” held in Mysore?
a. November 2000
b. July 2001
c. June 2002
d. November 2001
Answer: (d)

13. What is the analytical study of the end products and by-products that can throw light on new product ideas?
a. Emerging technologies
b. Market characteristics
c. Social and economic trends
d. Product profile
Answer: (d)

14. Who manufactured “Sumeet” mixies to suit Indian conditions?
a. Manohar Kumar Mathur
b. Satya Prakash Mathur
c. Mridula Kumar Mathur
d. Prakash Kumar Mathur
Answer: (b)

15. What can be defined as an attractive project idea that an entrepreneur accepts as the basis for his investment decision?
a. Possibility
b. Business
c. Opportunity
d. Notion
Answer: (c)

16. What is a two-way exchange process in which the needs and wants of the buyer and seller are satisfied?
a. Marketing
b. Selling
c. Producing
d. Accounting
Answer: (a)

17. Which phase starts after the investment decision is taken?
a. Normalisation phase
b. Construction phase
c. Pre-investment phase
d. Product identification phase
Answer: (b)

18. What provides all the necessary information of the unit proposed to be set up for the manufacture of a product or rendering a service?
a. Project description
b. Project appraisal
c. Project implementation schedule
d. Project report
Answer: (d)

19. BEP = (F/(S-V)) x 100
What does F stand for?
a. Fixed sales
b. Fixed cost
c. Finished stock
d. Final output
Answer: (b)

20. Which statement gives a projection of future sources of cash and their applications?
a. Cash flow statement
b. Fund flow statement
c. Income statement
d. Balance sheet
Answer: (a)

21. In long-term capital, the repayment of money is arranged for what time period?
a. Within 1 year
b. More than 2 years
c. More than 7 years
d. More than 5 years
Answer: (d)

22. Ownership capital is also known as:
a. Debt
b. Equity
c. Loan
d. Mortgage
Answer: (b)

23. To whom does the company pay interest?
a. Shareholder
b. Customer
c. Debenture holder
d. Creditor
Answer: (c)

24. When was the first SFC (State Financial Corporation) set up in Punjab?
a. 1950
b. 1958
c. 1953
d. 1960
Answer: (c)

25. When was Small Scale Industries Board constituted?
a. 1958
b. 1960
c. 1953
d. 1954
Answer: (d)

26. Which type of industrial estates is called conventional industrial estates?
a. General type of industrial estate
b. Special type industrial estate
c. Ancillary industrial estate
d. Workshop bay
Answer: (a)

27. Government industrial estates come under which type of classification?
a. Variant
b. Objective
c. Functional
d. Organizational
Answer: (d)

28. Under Section 80J of the Income Tax act, 1961 new industrial undertakings are exempted from the payment of income tax on their profits subject maximum of what percentage of their capital employed?
a. 5%
b. 6%
c. 10%
d. 15%
Answer: (b)

29. Rehabilitation allowance is granted under which section of the Income Tax Act, 1961?
a. 30-B
b. 80-C
c. 32-D
d. 33-B
Answer: (d)

30. When was the investment allowance introduced?
a. 1970
b. 1961
c. 1967
d. 1976
Answer: (d)

31. IPR stands for?
a. Industrial Policy Resolutions
b. Industrial Protection Resolutions
c. Independent Policy Reforms
d. Income Plan Rewards
Answer: (a)

32. When was the policy titled” Policy Measures for Promoting and Strengthening and Supplementing Small, Tiny and Village Enterprises” tabled in the Parliament?
a. July 6, 1990
b. August 28, 1992
c. August 6, 1991
d. June 15, 1991
Answer: (c)

33. National Programme for Rural Industrialization has been announced with a mission to set up how many rural clusters every year?
a. 150
b. 200
c. 250
d. 100
Answer: (d)

34. “Quality is fitness for use or purpose,” said by:
a. Philip B. Crosby
b. Joseph M. Juran
c. W. Edwards Deming
d. ISO
Answer: (b)

35. What refers to managing continuous improvement and does not address any specific organizational level?
a. Quality
b. Administration
c. Management
d. People
Answer: (c)

36. What is the fourth element involved in TQM?
a. Processes
b. Team Work
c. Continuous Improvement
d. Customer Satisfaction
Answer: (b)

37. What breeds personal initiative?
a. Empowerment
b. Consensus
c. Teamwork
d. Organization
Answer: (a)

38. In which stage the business expands by way of opening its branches?
a. Startup stage
b. Growth stage
c. Expansion stage
d. Maturity stage
Answer: (c)

39. Which form of growth of the business is diversification?
a. External
b. Vertical
c. Horizontal
d. Internal
Answer: (a)

40. When two or more enterprises merge into one to form a new enterprise, what is it called?
a. Absorption
b. Amalgamation
c. Joint Venture
d. Franchising
Answer: (b)

41. ___ says that entrepreneurship is a ___ activity.
a. Fredrick Harbison & creative
b. Fredrick Harbison & innovative
c. Schumpeter and creative
d. Schumpeter and innovative
Answer: (c)

42. Which of the following is not a quality of a successful entrepreneur as specified by Mc Clelland?
a. He is endowed with unusual creativeness
b. He has a high degree of ambition
c. He is enriched by a high propensity
d. He has also a strong need for achievement.
Answer: (b)

43. The Institute of Entrepreneurship Development has trained around ___ youths in ___ programmes till 1987 April.
a. 300, 14
b. 500, 20
c. 200, 10
d. 400,13
Answer: (d)

44. Madhya Pradesh Consultancy Organisation Ltd. gives ___ and ___ training to entrepreneurs.
a. Technical and managerial
b. Vocational and technical
c. Managerial and administrative
d. Financial and technical
Answer: (a)

45. According to Frederick Harbison, which of the following is not a function of a women entrepreneur?
a. Explore the prospects of starting new enterprises.
b. Co-ordination, administration and control
c. The power to resist criticism
d. Supervision and providing leadership in all aspects of the business.
Answer: (c)

46. Which of the following is not a source of ideas for an entrepreneur?
a. Cost of the project
b. Product profile
c. Imports and exports
d. Emerging technologies
Answer: (a)

47. While doing a market survey for raw material availability, which of the following should be considered?
a. Existing brand loyalties and consumption pattern
b. Leading suppliers and time for order execution
c. Market strategy and advertising
d. Major manufacturers and machinery delivery schedules
Answer: (b)

48. According to Peter Drucker, which of the following is not a kind of opportunity?
a. Breakthrough
b. Additive
c. Complementary
d. Market
Answer: (d)

49. Debt-Service Coverage ratio = Net profit after tax + ___ + interest for one year/___ + interest for one year
a. Depreciation and sales
b. Depreciation and capital employed
c. Equity and instalment
d. Depreciation and instalment
Answer: (d)

50. On the basis of permanence, the financial needs are classified into :
a. Fixed & working capital
b. Long term & fixed capital
c. Short term & fixed capital
d. Long term & short term capital
Answer: (a)

51. An optimum capital structure can be defined as a financing mix incurring the ___ cost but yielding the ___ results.
a. Least & maximum
b. Maximum & least
c. Least & minimum
d. Maximum & minimum
Answer: (a)

52. The term “export finance” refers to ___ facilities and techniques of ___ at the pre-shipment and post-shipment stages.
a. Debit & payment
b. Credit & payment
c. Credit & collection
d. Credit & debit
Answer: (b)

53. On the basis of the organizational set – up, industrial estates are classified into:
a. Private industrial estates & functional industrial estates
b. Functional industrial estates & the workshop bay
c. Municipal industrial estates & private industrial estates
d. Functional industrial estates & Municipal industrial estates
Answer: (c)

54. In order to become eligible for tax concession, the small scale industries need to employ at least ___ & ___ workers in a manufacturing process carried on with and without the aid of power respectively.
a. 10 & 20
b. 20 & 10
c. 10 & 30
d. 20 & 30
Answer: (a)

55. Section 80M of the Income Tax Act,1961, provides for deductions in respect of:
a. Royalties from any company in India & Inter-corporate dividends
b. Inter-corporate dividends & Income of Co-operative Societies
c. Income of Co-operative Societies & Royalties from any company in India
d. Royalties from any company in India & Royalties from certain foreign companies
Answer: (a)

56. The IPR 1956 for SSI aimed at :
a. Protection plus Growth
b. Protection plus Development
c. Protection plus Promotion
d. Promotion plus Development
Answer: (b)

57. The main thrust of the Seventh Plan was ___ and not ___.
a. Reservation & competition
b. Development & competition
c. Competition & reservation
d. Advancement & reservation
Answer: (c)

58. Quality is a ___determination, not the ___ determination.
a. Manufacturer’s & Customer’s
b. Seller’s & Customer’s
c. Customer’s & Manufacturer’s
d. Seller’s & Buyer’s
Answer: (c)

59. TQM is a philosophy where the approach is ___ and ___.
a. Human & scientific
b. Behavioural & Scientific
c. Behavioural & Human
d. Systematic & Human
Answer: (c)

60. Subcontracting is a ___ beneficially ___ relationship between two companies.
a. Exclusively & Traditional
b. Mutually & Commercial
c. Mutually & Traditional
d. In exclusively & Commercial
Answer: (b)

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