Quiz On Entrepreneurship: Trivia Exam!

50 Questions | Total Attempts: 206

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Quiz On Entrepreneurship: Trivia Exam!

Entrepreneurship is the ability and motivation to develop, organize, and operate a business enterprise along with the chance to make a profit. The best example of entrepreneurship is to start your own business. You must have the guts to take a risk, and you must also be able to generate fresh ideas and the leadership qualities to convey these ideas. You will want to take this great quiz.


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

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