In this post, students you will read about Entrepreneurship Multiple Choice Questions And Answers 2024 we hope this informative post will help you so don’t forget to read it completely For Entrepreneurship MCQs preparation for the mid-term exams only.
These multiple-choice questions are handwritten and well organized and taken from the Midterm syllabus only so don’t try them for the Entrepreneurship final term exams.
Entrepreneurship Solved MCQs
| Post Topic | Solved MCQs |
| Book Code | MGT602 |
| Midterm/Final Term | Midterm |
| University | VU – Virtual University |
Entrepreneurship Multiple Choice Questions And Answers
Question No: 1
Individuals who help the entrepreneur in business activities are called:
► Role models
► Moral support networks
► Professional support networks (page 25)
► Business support networks
Question No:2
Following are the problems in developing the economies EXCEPT:
► Gap of knowledge
► Variable rate of return
► Same communication style( Page No. 29)
► Different accounting system
Question No:3
Which one of the following is the best protection against product liability?
► Avoid negligence
► Warn consumers of any potential hazards (Page No. 52)
► Give warranty
► Avoid misrepresentation
Question No:4
Which one of the following reviews the trends and competitive strategies?
► Environmental Analysis (Page No. 57)
► Product forecast
► Contingency plan
► Industry analysis
Question No:5
A utility patent has a term of:
► 10 years
► 40 years
► 20 years (Page No. 46)
► 80 years
Question No:6
Which of the following bodies issues patents?
► GATT
► NAFTA
► FTA
► PTO (Page No. 46)
Question No:7
Which of the following is a more structured method of problem-solving, including principles and rules for
concept formation, making observations and experiments, and finally validating the hypothesis?
► Scientific method (Page No. 41)
► Heuristics
► Attribute listing
► Value analysis
Question No:8
Which one of the following gives suggestions for new products and also helps to market new products?
► Existing products and services
► Federal government
► Consumers
► Distribution channels (Page No. 38)
Question No:9
GATT is established in 1947, under:
► German leadership
► French leadership
► U.S. leadership
► U.K. leadership
Question No:10
Factors contributing to the creation of new venture EXCEPT:
► Government
► Finance
► High interest rates
► Role models
Question No:11
A foundation company is formed through which of the following?
► Fashion
► Most popular business
► A winding up company
► Research and development (Page No. 7)
Question No:12
Which one of the following is the primary cause of failure in small businesses?
► Poor financial control
► Poor location
► Management Mistakes
► Improper inventory control
Question No:13
Which of the following is a fourth step in the entrepreneurial process?
► Developing successful business ideas
► Deciding to become an entrepreneur
► Growing the entrepreneurial firm
► Moving from an idea to an entrepreneurial firm
Question No:14
Which one of the following is NOT a phase of the entrepreneurial process?
► Identification and evaluation of opportunity
► Development of a business plan
► Deciding to become an entrepreneur (pages 13 and 14)
► Determination of required resources
Question No:15
Which one of the following is not the entrepreneurial leadership characteristic?
► Understands environment
► Encourage the teamwork
► Not flexible (page 20)
► Persistent