Final Assessment - Enterpreneurship

50 Questions | Total Attempts: 110

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Final Assessment - Enterpreneurship

Retail Sales Associate Given below is the mid-term assessment based on first 20 days course. Each question carries 2 marks.


Questions and Answers
  • 1. 
    An entrepreneurial _______________________ exists where there is  a need, want problem or challenge that can be addressed in an innovative way. 
    • A. 

      Opportunity

    • B. 

      Challenge

    • C. 

      Problem

    • D. 

      None of the above

  • 2. 
    Which of the following would help generate some business ideas? 
    • A. 

      Do not ask questions

    • B. 

      Listen to what others have to say

    • C. 

      Approach problems from the same perspective

    • D. 

      All of the above

  • 3. 
    Which of the following question will help you assess your ideas?
    • A. 

      Is it really an opportunity?

    • B. 

      Do or will many people care?

    • C. 

      Has it been seen by others?

    • D. 

      All of the above

  • 4. 
    SWOT Analysis is the identification of ____________________________.
    • A. 

      The nature of work

    • B. 

      Strength and weakness

    • C. 

      When to start work

    • D. 

      All of the above

  • 5. 
    Motivating employees is especially important during the time of  _____________________.
    • A. 

      Crisis

    • B. 

      Normalcy

    • C. 

      Starting the business

    • D. 

      All of the above

  • 6. 
    Which of the following help motivate employees?  
    • A. 

      Group activities

    • B. 

      Brainstorming sessions

    • C. 

      Workshops

    • D. 

      All of the above

  • 7. 
    Which of the following shows how to do introductions?
    • A. 

      Have a very tight handshake

    • B. 

      Look away from the person

    • C. 

      Smile while greeting

    • D. 

      All of the above

  • 8. 
    The following picture shows a _______________ handshake.
    • A. 

      Firm

    • B. 

      Weak

    • C. 

      Too firm

    • D. 

      None of the above

  • 9. 
    Email etiquette includes: 
    • A. 

      Avoiding slangs

    • B. 

      Delaying replies

    • C. 

      Sending the email without reviewing it

    • D. 

      All of the above

  • 10. 
     Which of the following are DON’ts of customer service?
    • A. 

      Listen to your customers

    • B. 

      Promise more than you can deliver

    • C. 

      Anticipate your customer’s needs

    • D. 

      All of the above

  • 11. 
    A negative, laid back or aggressive body language when we interact with customers will_____________________.
    • A. 

      Attract customers

    • B. 

      Put off customers

    • C. 

      Not affect customers

    • D. 

      None of the above

  • 12. 
    Feedback loops help in ____________________ customer service.
    • A. 

      Monitoring

    • B. 

      Slowing down

    • C. 

      Deciding

    • D. 

      All of the above

  • 13. 
     _______________ is a list of documents such as a letters, certificates or any other official documents.
    • A. 

      Enclosures

    • B. 

      Documentation

    • C. 

      Salutation

    • D. 

      All of the above

  • 14. 
    Business Letters can be written to:   
    • A. 

      Build goodwill

    • B. 

      Build partnerships

    • C. 

      Develop business

    • D. 

      All of the above

  • 15. 
    A ________________ is a formal statement of a set of business goals. 
    • A. 

      Business Plan

    • B. 

      Business Letter

    • C. 

      Production Plan

    • D. 

      All of the above

  • 16. 
    Why is a business plan needed?   
    • A. 

      Starting a new business

    • B. 

      Expanding a new business

    • C. 

      Applying for a loan

    • D. 

      All of the above

  • 17. 
    A _________________outlines the strengths and weakness of the competitors within your market segment.
    • A. 

      Financial Plan

    • B. 

      Competitive Analysis

    • C. 

      Executive Summary

    • D. 

      Exit strategies

  • 18. 
    Which of the following are components of a financial plan?   
    • A. 

      Licences and permits

    • B. 

      Insurance

    • C. 

      Break-even estimates

    • D. 

      All of the above

  • 19. 
    What is the use of a cash flow projection template?   
    • A. 

      It gives the amount of cash available

    • B. 

      It gives the amount of cash received for services.

    • C. 

      It gives the amount of cash spent by the company

    • D. 

      All of the above

  • 20. 
    Which of the following are important questions to ask while drafting a business plan? 
    • A. 

      What is the marketing plan of the company?

    • B. 

      What is the company's capital requirement?

    • C. 

      What is the company's past financial record?

    • D. 

      All of the above

  • 21. 
    How does management accounting help?
    • A. 

      It helps management by providing accounting information for policy making.

    • B. 

      It helps prepare financial statements for the company.

    • C. 

      It gives elaborate cost records of operations, procedures etc.

    • D. 

      All of the above

  • 22. 
    ___________________ Concept is when something that becomes due especially an amount of money that is yet to be  paid or received at the end of the accounting period.
    • A. 

      Accrual

    • B. 

      Realisation

    • C. 

      Accounting Period

    • D. 

      All of the above

  • 23. 
    The ________________________ concept states that revenue and the expenses incurred to earn the revenues must belong to the same accounting period.
    • A. 

      Matching

    • B. 

      Realisation

    • C. 

      Accounting Period

    • D. 

      All of the above

  • 24. 
     ___________________ Account are the accounts related to assets and properties.
    • A. 

      Real

    • B. 

      Personal

    • C. 

      Nominal

    • D. 

      Representative

  • 25. 
     Which of the following methods will help build entrepreneurial confidence?
    • A. 

      Set big goals and take small steps

    • B. 

      Obtain maximum information for minimum cost

    • C. 

      Skip the career track

    • D. 

      All of the above

  • 26. 
    Assessing the current portfolio of products or services is a potential use of SWOT analysis. 
    • A. 

      True

    • B. 

      False

  • 27. 
    Using your position and power in a way that shows employees that they are not respected motivates them.
    • A. 

      True

    • B. 

      False

  • 28. 
    Goal setting is a powerful process for thinking about your ideal future.
    • A. 

      True

    • B. 

      False

  • 29. 
    It is important to stick to commitments and timelines and build trust among employees and customers.  
    • A. 

      True

    • B. 

      False

  • 30. 
    Ignoring diversity in people is important to establish a positive and productive group dynamic.
    • A. 

      True

    • B. 

      False

  • 31. 
    It is important to respect the privacy of colleagues.
    • A. 

      True

    • B. 

      False

  • 32. 
    A profit and loss template is important because it helps identify the profitability of the business.
    • A. 

      True

    • B. 

      False

  • 33. 
    A balance sheet can be prepared as and when required by a business as an indication of the performance of the business.
    • A. 

      True

    • B. 

      False

  • 34. 
    It is important to use a lot of technical terms in the business plan.
    • A. 

      True

    • B. 

      False

  • 35. 
    Work in the service sector has become largely sedentary and this has increased the risks. 
    • A. 

      True

    • B. 

      False

  • 36. 
    Short-term benefits of maintaining workplace health and safety include staff who feel valued.  
    • A. 

      True

    • B. 

      False

  • 37. 
    Growth depends only on the nature/background of the entrepreneur.
    • A. 

      True

    • B. 

      False

  • 38. 
    Growth in business is a much pursued goal.
    • A. 

      True

    • B. 

      False

  • 39. 
    Employee engagement does not affect organisational growth. 
    • A. 

      True

    • B. 

      False

  • 40. 
    Prioritizing your to-do list helps you focus and spend more of your time on the things that really matter to you. 
    • A. 

      True

    • B. 

      False

  • 41. 
    In discriminatory pricing prices are not adjusted to allow for differences in customers, product, location, as well as time. 
    • A. 

      True

    • B. 

      False

  • 42. 
    If you are offering a better product than others on the market, you should be charging a nominal price for it. 
    • A. 

      True

    • B. 

      False

  • 43. 
    Costing and pricing play a major role in the survival and profitability of a business. 
    • A. 

      True

    • B. 

      False

  • 44. 
    Dual aspect is the foundation or basic principle of accounting. 
    • A. 

      True

    • B. 

      False

  • 45. 
    Failure to meet deadlines should be included in risk analysis and success factors. 
    • A. 

      True

    • B. 

      False

  • 46. 
     Team summary has brief background of key team members.
    • A. 

      True

    • B. 

      False

  • 47. 
    Value proposition section includes what makes your product/service unique.
    • A. 

      True

    • B. 

      False

  • 48. 
    A business plan helps plan the cash flow.
    • A. 

      True

    • B. 

      False

  • 49. 
    Customers will notice when you make an extra effort. 
    • A. 

      True

    • B. 

      False

  • 50. 
    Public image will remain unaffected with poor customer service. 
    • A. 

      True

    • B. 

      False