WorksheetsENTREP U2 T1
Total questions: 43
Worksheet time: 1hrs 26mins
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 celebrations
Increasing workers‟ salaries and wages
Spearheading the growth of the company
When an existing company grants a license to another company to operate using the former's 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 organizations would MOST likely provide financial and technical assistance to implement a business idea?
IPO
Banks
Angel Investors
Business Development Agencies
Timothy is seeking direction in deciding the BEST way to organize his entrepreneurial venture. His first decision is to determine the form of legal ownership. Which of the following aspects of the venture has direct bearing on legal ownership?
Growth
Liability
Taxation
Profitability
Hawa is the owner of a female hair-styling salon. Pasha is an entrepreneur managing his own barber shop. Due to individual challenges they are facing, the two have decided to merge their businesses to take advantage of their individual expertise. Which of the following forms of business would be MOST suitable for the new venture?
Franchise
Partnership
Corporation
NGO
Max is a professional accountant who has decided to go into the preparation of fast food for sale. His business adviser has told him to purchase yellow cones to be placed on wet floors in the restaurant. Which of the following regulations covers this advice?
Tax and profits
Employment law
Registration of business
Occupational health and safety
Which of the following types of business has unlimited life and allows for the easy transferability of ownership interest?
Partnership
Corporation
Sole proprietorship
No Limited liability partnership
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
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
Which of the following may be considered unethical behaviour on the part of a dairy product venture owner?
Giving cows minimum medical attention
Milking cows only when they are healthy
Allowing cows to graze on clean, authorized grass
Implementing medical advice given by veterinary officers
The legal protection of a word, name, phrase or a symbol granted to a venture is known as a
patent
domain
trademark
copyright
Which of the following is a feature of a 'lifestyle‟ venture?
It is fast growing.
It has great opportunity to serve customers.
It exists primarily to support the owner's standard of living.
It makes research and development a priority.
A company has decided to pay the college fees of 50 children of poor families living within its local community. This is an example of the company's
legal obligation
mandatory duties
ethical behaviour
corporate social responsibility
The primary purpose of a business plan is to
The primary purpose of a business plan is to
clarify the venture's mission
determine an exit strategy
establish the venture's feasibility
Which of the following is a key component of a business model?
Cost
Price
Value proposition
Business plan
In which of the following sections of a business plan would you find promotional resource?
Financial
Marketing
Operations
Management
The process by which the strengths and opportunities for an existing venture are identified is known as
SWOT analysis
PEST analysis
benchmarking
financial ratio analysis
The potential success of an entrepreneurial venture is determined through a
feasibility study
vision statement
mission statement
profit and loss statement
The BEST reason for preparing a statement of cash flow for a new venture is
to determine unpaid debts
to support the business model
for the benefit of shareholders
because it is one of the documents required to register the venture
The point at which a venture is neither making profits nor losses is described by the term
start-up
buck-up
cash strap
break even
Which of the following is NOT a source of funding for a new venture?
Gift
Loan
Sales
Grant
Which of the following is a KEY component of a business plan?
Venture logo
SWOT analysis
Executive summary
Organizational chart
The business model for a new venture must
show the source of funding
show the top managers of the venture
include a contract between management and workers
state what will be done differently to create value
The financial statement that shows the value of an organization's assets, liabilities and owner's equity is the
cash budget
balance sheet
income statement
cash flow statement
Which of the following is a saving and investment option?
Cash
Inventory
Raw materials
Fixed deposits
To create a successful, new product a company MUST understand the customers, the market, competitors and
develop a great advertising campaign
have a strong website to push the product
adopt a push rather than pull promotional concept
develop products that deliver superior value to customers
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
Which of the following is NOT a key aspect of the feasibility analysis for a new venture?
Time
Culture
Finance
Employment
The MOST appropriate form of financing during the rapid growth stage of a venture is
first-round financing
start-up or seed financing
public and seasoned financing
second-round or mezzanine financing
During which stage of a venture's life cycle may first-round external financing be utilized?
Survival
Maturity
Start-up
Rapid Growth
Which valuation method may become subjective if the shares for a company are NOT traded on the stock market?
Income capitalization
Book value (balance sheet value)
Price earning (multiple earnings value)
Discounted future earnings (discounted cash flow)
Which method is NOT an income valuation method?
Income capitalization
Book value (balance sheet value)
Price earning (multiple earnings value)
Discounted future earnings (discounted cash flow)
The process of buying and selling via the internet is called
E-commerce
E-marketing
E-banking
E-communication
Which of the following products are NOT suitable for online selling?
CDs
Books
Fresh vegetables
Financial services
Which of the following statements is NOT a feature of business ventures?
Ventures are sown.
Ventures can be grown.
Ventures are harvested.
Ventures can be exported
At which stage of the venture life cycle does the entrepreneur create the capacity to possess the product or service?
Start-up
Innovation
Venture growth
New venture development
Which of the following is a factor to consider before launching into E-commerce?
Location
Nationality
Bandwidth
Data mining
Which of the following venture valuation methods takes the time value of money into account?
Book value
Price earnings
Payback period
Discounted future earnings
Which of the following strategies can promote success in E-commerce?
Focusing on market needs
Minimizing the use of emails
De-emphasizing strategic alliances
Focusing on corporate social responsibility
The stage in the venture life cycle where the entrepreneur can consider entering other target markets is described as
Growth
Decline
Start-up
Business Stabilization
One reason for valuing a venture fairly accurately is to
promote goodwill
avoid under-harvesting
enhance accountability
avoid customer complaints
