Which of the followings are TRUE about entrepreneurship?

I. Entrepreneurs are key players or providers that produce, transport or sell products and services to consumers.

II. Entrepreneurs create new products, take risks in investing money and make the products available to customers.

III. New and improved products are continuously developed to replace older products, and these products have enhanced the standard and quality of life of the society.

IV. A society that has a great entrepreneurial culture will be less productive, competitive and prosperous.

V. Many successful entrepreneurs have become very rich when their small businesses grow into big corporations.

Which of the followings are best describe the major necessary components in the entrepreneurial process?

I. Hakeem is an entrepreneur who is the founder of Barakah Enterprise.

II. Hakeem can seize and act on an opportunity.

III. Hakeem works in a silo and he will package a viable offering to customer using available resources.

IV. In a team, Hakeem will package a viable offering to customers using available resources.

Which of the following statements is NOT true about the characteristics and attributes of entrepreneurs?

Ihsan is keen to learn more about the above businesses. He plans to venture into the _________ entrepreneurship.

As CEO of DEVISE, Jefri began his business as a web design and marketing firm which eventually transformed into an entity that creates, markets, monetizes and then eventually sells websites. Jefri’s business related to which of the following category of entrepreneurship?

Muhammad Yunus is the founder of Grameen Bank, an institution that provides microcredit loans to those in need to help them develop financial self-sufficiency. His entrepreneurial activity represents ________entrepreneurship.

The Timmons Model of Entrepreneurial Process best describes the four major necessary components in venture creation EXCEPT

An understanding of the historical perspectives and the rationale of the various government policies on the development of entrepreneurship in Malaysia is a necessary requisite for Malaysians to understand the country’s _________ history and challenges, so as to enable them to contribute towards building the nation.

__________ which refer to the indigenous people of Malaysia and mainly include Malays, Kadazans, Ibans and a few others, have been left far behind in terms of their economic fortunes and their participation in the modern sector of the economy, particularly in commerce and industry, compared to the Chinese and Indians.

Recognizing the severity of the economic imbalance between races and the urgent need to address them, the government through the ________introduced the far-reaching reforms of the New Economic Policy (NEP).

________ started in 1971 as an ambitious national blueprint for Malaysia’s socio-economic development.

The government realized that ________ and racial economic imbalances were the root causes of the unhappiness that had precipitated the 1969 racial riots.

The New Economic Model further envisions for the economy of Malaysia to be market-led, well-governed, regionally integrated, entrepreneurial and

To redress this and engender unity, the national ideology or________was introduced in 1970 by the newly established Department of National Unity, which called for a rejuvenated Malaysian society with a common value system that would transcend existing ethnic, cultural and socio-economic differences.

________ also introduced several new strategic dimensions, which included shifting the focus on the poverty eradication strategy to addressing hard-core poverty; emphasizing employment opportunities and rapid development of an active Bumiputera Commercial and Industrial Community (BCIC).

Which of the followings are the benefits of a sole proprietorship?

I. It is easy to register and dissolve with minimum formalities.

II. The registration fee is low.

II. Easy to manage as management is done by one person (the proprietor).

IV. Flexible, minimum regulatory requirement.

V. Profits belong to the owner.

Which of the followings are the benefits of a private limited company?

I. Generally, credit is easier to obtain compared to a sole proprietorship and partnership.

II. Members’ liability is limited to the shares subscribed only.

III. The life span of the company is not dependent upon the death or resignation of any of its members.

IV. The company can and may continue business even after the death of all founding members. The shares of these members can be transferred to beneficiaries or Sold to others.

V. A private limited company pays lower tax rates than any other business type.

Which of the following statements is NOT correct?

The amount of capital allocated, the management and the future planning of the business depend on the owner’s capability. This statement describes