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Entrepreneurial Manager MCQ

In a unilateral contract, the consideration for a promise is ______.

Action

A return promise

An acknowledgement

Consideration

An agreement

Answer

Correct Answer: Action

Note: This Question is unanswered, help us to find answer for this one

Corporate ______ are rules and regulations that govern the corporation's internal management.

Bylaws

Requirements

Statutes

Authorizations

Prohibitions

Answer

Correct Answer: Bylaws

Note: This Question is unanswered, help us to find answer for this one

A partnership agreement defines how the partners will be compensated. normally, ________.

Partners are not entitled to salaries or wages, but are compensated by a share of the profits of the business

The general partner's salary is set at two times the salaries of the limited partners

Both general and limited partners are permitted salaries, but all silent or dormant partners are compensated only by sharing in the profits

While the agreement establishes payout schedules, it does not spell out what constitutes profit

Answer

Correct Answer: Partners are not entitled to salaries or wages, but are compensated by a share of the profits of the business

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Whenever there is competitive rivalry, prices tend to be ____.

The same

Slightly higher

Lower

50 percent higher

None of these choices

Answer

Correct Answer: Lower

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If a new venture organizes as a corporation, it is legally required to have _________.

A board of directors.

Design

Conceptualization

Production

Answer

Correct Answer: A board of directors.

Note: This Question is unanswered, help us to find answer for this one

A business opportunity is an idea, plus ________.

It is attractive to suppliers

It may have marginal performance in your business environment

It has a limitless window of time to work within

It is attractive to customers and will work in your business environment

Answer

Correct Answer: It is attractive to customers and will work in your business environment

Note: This Question is unanswered, help us to find answer for this one

The most important thing to do during a sales call is ________.

Push for the sale early and don't mention price until the end

Ask questions to keep the customer engaged in the sales call

Listen, in order to learn what the customer needs

Keep talking so the customer doesn't lose interes

Answer

Correct Answer: Listen, in order to learn what the customer needs

Note: This Question is unanswered, help us to find answer for this one

The amount of risk or threat of loss that an entrepreneur is willing to sustain is ________.

Risk tolerance

Risk aversion

Risk acceptance

Risk reception

Risk recognition

Answer

Correct Answer: Risk tolerance

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The advantages of being an entrepreneur are _____

Flexibility

Independence

Salary potential

All of the above

Answer

Correct Answer: All of the above

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Entrepreneurs use a(n) ________ to track assets and liabilities.

Cash flow statement

Income statement

Profit and loss

Balance sheet

Answer

Correct Answer: Balance sheet

Note: This Question is unanswered, help us to find answer for this one

According to the textbook, the unique value provided by business angels is they ________.

They are willing to make relatively large investments

They are willing to make relatively small investments

They require a fairly low rate of return on their money

They invest money but typically don't take a seat on a company's board of directors

They are easy to find

Answer

Correct Answer: They are willing to make relatively small investments

Note: This Question is unanswered, help us to find answer for this one

According to the textbook, the number one reason that people become entrepreneurs is to ________.

Realize financial rewards

Gain prestige

Be their own boss

Continue a family tradition

Pursue their own ideas

Answer

Correct Answer: Be their own boss

Note: This Question is unanswered, help us to find answer for this one

Entrepreneurs typically possess ________.

The ability to easily access capital

A set of unique skills that is usually accompanied by advanced degrees in several areas

A high level of commitment, have a tolerance for ambiguity, are flexible and tenacious

Specialized technical abilities

Answer

Correct Answer: A high level of commitment, have a tolerance for ambiguity, are flexible and tenacious

Note: This Question is unanswered, help us to find answer for this one

Entrepreneurs typically have a knack for looking at the and seeing the .

Usual/unusual

Unusual/usual

Normal/extreme

Extreme/normal

Answer

Correct Answer: Usual/unusual

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Entrepreneurs tend to be ________.

Risk averse

Negative

Optimistic

Dispassionate

Answer

Correct Answer: Optimistic

Note: This Question is unanswered, help us to find answer for this one

A(n) ________ industry is an industry that is experiencing significant international sales.

Global

Mature

Fragmented

Declining

Emerging

Answer

Correct Answer: Global

Note: This Question is unanswered, help us to find answer for this one

Pro forma financials are a key part of the ____.

Feasibility analysis

Business launch

Cash flow

Startup capital

Business plan.

Answer

Correct Answer: Business launch

Note: This Question is unanswered, help us to find answer for this one

Value creation is the activities and processes that decrease the worth of a product or service.

True

False

Answer

Correct Answer: False

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_____ is the process of sourcing innovative solutions to social and environmental problems.

Social entrepreneurship

Corporate entrepreneurship

Both a and b

None of these

Answer

Correct Answer: Social entrepreneurship

Note: This Question is unanswered, help us to find answer for this one

_____ are the people who start several businesses, whether simultaneously or one after another.

Serial entrepreneurs

Social entrepreneurs

Both a and b

None of these

Answer

Correct Answer: None of these

Note: This Question is unanswered, help us to find answer for this one

People who start several businesses, whether non simultaneously or one after another are known as Serial entrepreneurs.

True

False

Answer

Correct Answer: True

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Pivots are the Small failures that allow entrepreneurs to react quickly and change direction where necessary.

True

False

Answer

Correct Answer: True

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Grit is the quality that enables people to work hard and sustain interest in their _____ goals.

Short-term

Mid-term

Long-term

All of these

Answer

Correct Answer: All of these

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A business _____ by multiple family members typically for more than one generation.

Supervised

Owned

Managed

All of these

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

Entrepreneurs inside are the people who think and act entrepreneurially within different types of organizations.

True

False

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

Entrepreneurs are the individuals who _____ high-risk business opportunities.

Plan

Organize

Lead

All of these

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

Entrepreneurial skills are the _____ that enable individuals to manage successfully in high-risk business environments.

Capacities

Activities

Strengths

All of these

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

Innovations that create new markets through the discovery of new categories of customers.

Disruptive innovation

Exploitative innovation

Exploratory innovation

Process innovation

Answer

Correct Answer: Disruptive innovation

Note: This Question is unanswered, help us to find answer for this one

Corporate entrepreneurship is the process of creating new _____ or renewal within large corporations.

Products

Ventures

Processes

All of these

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

Entrepreneurial Manager MCQ

In a unilateral contract, the consideration for a promise is ______.

Corporate ______ are rules and regulations that govern the corporation's internal management.

A partnership agreement defines how the partners will be compensated. normally, ________.

Whenever there is competitive rivalry, prices tend to be ____.

If a new venture organizes as a corporation, it is legally required to have _________.

A business opportunity is an idea, plus ________.

The most important thing to do during a sales call is ________.

The amount of risk or threat of loss that an entrepreneur is willing to sustain is ________.

The advantages of being an entrepreneur are _____

Entrepreneurs use a(n) ________ to track assets and liabilities.

According to the textbook, the unique value provided by business angels is they ________.

According to the textbook, the number one reason that people become entrepreneurs is to ________.

Entrepreneurs typically possess ________.

Entrepreneurs typically have a knack for looking at the ______ and seeing the ______.

Entrepreneurs tend to be ________.

A(n) ________ industry is an industry that is experiencing significant international sales.

Pro forma financials are a key part of the ____.

Value creation is the activities and processes that decrease the worth of a product or service.

_____ is the process of sourcing innovative solutions to social and environmental problems.

_____ are the people who start several businesses, whether simultaneously or one after another.

People who start several businesses, whether non simultaneously or one after another are known as Serial entrepreneurs.

Pivots are the Small failures that allow entrepreneurs to react quickly and change direction where necessary.

Grit is the quality that enables people to work hard and sustain interest in their _____ goals.

A business _____ by multiple family members typically for more than one generation.

Entrepreneurs inside are the people who think and act entrepreneurially within different types of organizations.

Entrepreneurs are the individuals who _____ high-risk business opportunities.

Entrepreneurial skills are the _____ that enable individuals to manage successfully in high-risk business environments.

Innovations that create new markets through the discovery of new categories of customers.

Corporate entrepreneurship is the process of creating new _____ or renewal within large corporations.

Entrepreneurs typically have a knack for looking at the and seeing the .