Entrepreneurial Manager MCQ
Entrepreneurial Manager MCQ
1. In a unilateral contract, the consideration for a promise is ______.
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2. Corporate ______ are rules and regulations that govern the corporation's internal management.
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3. A partnership agreement defines how the partners will be compensated. normally, ________.
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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4. Whenever there is competitive rivalry, prices tend to be ____.
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5. If a new venture organizes as a corporation, it is legally required to have _________.
Answer
Correct Answer:
A board of directors.
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6. A business opportunity is an idea, plus ________.
Answer
Correct Answer:
It is attractive to customers and will work in your business environment
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7. The most important thing to do during a sales call is ________.
Answer
Correct Answer:
Listen, in order to learn what the customer needs
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8. The amount of risk or threat of loss that an entrepreneur is willing to sustain is ________.
Answer
Correct Answer:
Risk tolerance
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9. The advantages of being an entrepreneur are _____
Answer
Correct Answer:
All of the above
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10. Entrepreneurs use a(n) ________ to track assets and liabilities.
Answer
Correct Answer:
Balance sheet
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11. According to the textbook, the unique value provided by business angels is they ________.
Answer
Correct Answer:
They are willing to make relatively small investments
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12. According to the textbook, the number one reason that people become entrepreneurs is to ________.
Answer
Correct Answer:
Be their own boss
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13. Entrepreneurs typically possess ________.
Answer
Correct Answer:
A high level of commitment, have a tolerance for ambiguity, are flexible and tenacious
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14. Entrepreneurs typically have a knack for looking at the ______ and seeing the ______.
Answer
Correct Answer:
Usual/unusual
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15. Entrepreneurs tend to be ________.
Answer
Correct Answer:
Optimistic
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16. A(n) ________ industry is an industry that is experiencing significant international sales.
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17. Pro forma financials are a key part of the ____.
Answer
Correct Answer:
Business launch
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18. Value creation is the activities and processes that decrease the worth of a product or service.
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19. _____ is the process of sourcing innovative solutions to social and environmental problems.
Answer
Correct Answer:
Social entrepreneurship
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20. _____ are the people who start several businesses, whether simultaneously or one after another.
Answer
Correct Answer:
None of these
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21. People who start several businesses, whether non simultaneously or one after another are known as Serial entrepreneurs.
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22. Pivots are the Small failures that allow entrepreneurs to react quickly and change direction where necessary.
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23. Grit is the quality that enables people to work hard and sustain interest in their _____ goals.
Answer
Correct Answer:
All of these
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24. A business _____ by multiple family members typically for more than one generation.
Answer
Correct Answer:
All of these
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25. Entrepreneurs inside are the people who think and act entrepreneurially within different types of organizations.
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26. Entrepreneurs are the individuals who _____ high-risk business opportunities.
Answer
Correct Answer:
All of these
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27. Entrepreneurial skills are the _____ that enable individuals to manage successfully in high-risk business environments.
Answer
Correct Answer:
All of these
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28. Innovations that create new markets through the discovery of new categories of customers.
Answer
Correct Answer:
Disruptive innovation
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29. Corporate entrepreneurship is the process of creating new _____ or renewal within large corporations.
Answer
Correct Answer:
All of these
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Business Management MCQs | Topic-wise
