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WorksheetsENTREPRENEURSHIP UNIT 2
Total questions: 45
Worksheet time: 2hrs 30mins
Which of the following may be considered an activity that falls under the corporate social responsibility of a lumber company?
Cash donations towards reforestation
Supporting company fun-day celebration
Increasing workers‟ salaries and wages
Spearheading the growth of the company
A Caribbean government recently asked an airline to obtain a license before operating in that territory. This means the airline was being asked to satisfy
a social obligation
a legal requirement
an ethical obligation
a corporate social responsibility
When an existing company grants a license to another company to operate using the formers name and design to provide the same service, the arrangement is called
a franchise
a partnership
an undertaking
limited liability
Which of the following contains guidelines for regulating process and service standards irrespective of the type of business?
COSSH
ISO Standards
Employee Handbook
Economic Partnership Agreement
Which of the following types of business has unlimited life and allows for the easy transferability of ownership interest?
Partnership
Corporation
Sole proprietorship
Limited liability partnership
The Corporate Charter is BEST described as the
basic legal declaration contained in the bylaws
legal document that establishes the corporation
set of rules and procedures established to govern the daily operations of the corporation
document that governs the relationship between the workers of the corporation and management
Which of the following courses of action is available to the regulatory agency in a country if a registered company fails to pay its taxes?
Prosecute the company
Arrest the company's employees
Cut the company's source of raw material supply
Ask buyers to boycott the company's products
An entrepreneur wishing to adopt open innovation must
Maximize the returns of shareholders
Focus on the firm’s core competencies
Build an internal collaboration network
Be willing to collaborate with customers and competitors
In a partnership venture, the partners share the management, profits, and debts of their business based on the terms of their
Friendship or relationship
Capital contribution
Deed of partnership
By-laws
One advantage of the franchise approach to business is that the entrepreneur gets more
Profit
Guidance
Capital
Partners
In the contact of venture operations, a whistle-blower is a person who
Reports illegal and unethical behavior
Speaks loudly during the decision-making process
Contributes capital but is inactive in managing the business
Seeks new innovative ways of doing things within a business
Which of the following is a distinguishing feature of the social entrepreneur
In business to create a profit
Takes environmental objectives into consideration
Highly inclined towards socializing and networking
Repeatedly starts and manages several companies at the same time
The primary purpose of a cooperative is to
break - even
push the economic interest of members
improve the standard of living of the country
bring together a group of existing companies to form one company
Phillip a young designer is desperate for his new clothing line to become successful. To help his chances, he begins to copy the designs of prominent designers. This is in breach of
Tax laws
Labour laws
ISO Regulations
Intellectual property laws
If a business is listed on the stock exchange
it means that it is a
private company
limited partnership
limited liability company
non-governmental organisation
Market research is the process of obtaining information on
the source of financing for the business
the strengths and weaknesses of a business idea
developing the best recruitment and selection model
how the business can create value and manage its operations
Which element of research is concerned with targeting specific customers with niche marketing campaigns?
Customer analysis
Promotion strategy
Expected sales trend
Product characteristics
Which of the following are considered when doing a personality SWOT analysis?
Grades, parent's money, movies, friends
Race, neighborhood, age, fashion sense
Market conditions, economy, taxation, liability
Skills, education, negative work habits, your industry
Which of the following financial statements gives a comprehensive view of the firm's profitability?
Cash budget
Balance sheet
Income statement
Cash flow statement
Which of the following is a form of equity finance for a start-up?
Loans
Debentures
Personal savings
Issuing bonds
The period it takes a business to earn a profit after the initial investment is known as
pay back
liquidity
solvency
profitability
Patrick is a novice entrepreneur. He has to prepare a business model for his business plan. Which of the following components of the business model will determine for whom he has to create value?
Beneficiary
Value proposition
Income generation
Product differentiation
During which stage of a venture's life cycle may first-round external financing be utilized?
Survival
Maturity
Start-up
Growth
The financial statement that shows the value of an organization's assets, liabilities and owner's equity is the
Income statement
Cash flow statement
Balance sheet
Cash budget
Which of the following is a KEY component of a business plan?
Venture logo
SWOT analysis
Value Proposition
Executive summary
The point at which a venture is neither making profits nor losses is described by the term
pay back
break even
cash strap
start-up
Which of the following is NOT a key aspect of the feasibility analysis for a new venture?
Time
Culture
Finance
Employment
Which of the following is a savings and investment option?
Fixed deposit
Loan
Cash
Inventory
A short-term debt obligation backed by the government with a maturity of less than one year is known as a
Bond
Fixed deposit
Stock
Treasury bill
The net change in cash and cash equivalents is
$4 million (increase)
$4 million (decrease)
$27 million (increase)
$6 million (decrease)
Which section of a business plan provides information about staffing?
Finance
Marketing
Operations
Management
Which method is NOT an income valuation method?
Income capitalization
Book value
Price-earnings
Discounted cash flow
Using the book value approach calculate the book value of an asset if the original cost was $10,000 and accumulated depreciation totaled $2,300 after 3 years:
$12,300
$7,700
$6,900
$7,000
Which of the following products are not suitable for online selling?
Fresh vegetables
Books
CD's
Financial services
What is the price earnings multiple (ratio) for this firm?
2
8
10
12
Which of the following is a factor to consider before launching into e-commerce?
Location
Nationality
Bandwidth
Data mining
Which of the following strategies can promote e-commerce success?
Promotion online and offline
Minimizing the use of emails
Focusing on corporate social responsibility
De-emphasizing strategic alliances
When a venture first begins operations it experiences
low sales, high costs
low sales, low costs
high sales, low costs
high sales, high costs
Many attempts at e-commerce fail because of the belief that
the most important factor is strategy
all you need is technology
too much security is better than too little
online sales can lead to new growth opportunities
At which stage of the venture's life cycle is innovation critical for the survival of the venture?
Growth
Decline
Start-up
Acceleration
To reward employees, businesses may allow them to purchase shares at a predetermined price, effectively making them part owners of the firm. This practice is
Deregulation
Reward programme
Employee stock option plan
None of the above
As in a brick and mortar model, a frequent buyer programme can help e-commerce ventures establish customer
loyalty
security
privacy
flexibility
Which of the following is NOT an approach to e-commerce
Online shopping malls
Own website
Partnering with payment service providers
Partnering with sole traders
Many unknown recording artistes use the Internet and You Tube because of
speed and flexibility
access to global market
potential to increase sales
potential to improve margins
When assessing the online potential of a business venture, consideration should be given to
data mining, target markets, difficulty of access to offline customers
appeal to customers, online shopping malls, data mining
appeal to customers, target markets, costs and benefits
costs and benefits, domain name
