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WorksheetsOverview of Entreprenuership
Total questions: 21
Worksheet time: 7mins
The following are advantages of becoming an entrepreneur EXCEPT
declines family income
improves social status
fulfill the unlimited needs and wants
creates choices through innovative production techniques
Which of the followings are not characteristics of a successful entrepreneur?
dependable
risk takers
hardworking
able to tolerate the tedium
A person who organizes manages and assumes the risk of starting a business is called a ________.
facilitator
businessman
entrepreneur
purchasing agent
Najeeha's store was sued when a customer was injured from falling on the premises. As a sole proprietor store, Najeeha will be personally liable for any judgement against the store due to _______________.
charter law
limited liability
unlimited liability
terms of her property insurance
Lokman has an idea for a new business. He wants to be his boss and wants to keep all of the profits he expects to earn for himself. These goals suggest that Saiful Lokman would prefer setting up a _______.
distributorship
general partnership
sole proprietorship
limited liability company
Which of the following is a characteristic of a public limited company?
organizes, manages, and assumes the risk of a business
involves himself in developing business, but not in future
creates a new business concept to achieve profit only
is willing to implement a business concept and then gives up if it does not meet the expectations
All of the following are disadvantages of a partnership except _________.
profits are shared among the partners
decision making must be made among the partners
general partners are subject to unlimited liability
multiple partners bring additional funds to the business
The word entrepneur is derived from the ___________ word entrepende, meaning 'to undertake'.
Latin
French
English
Spanish
Which of the following is a characteristic of a public limited company?
managed and controlled by the owner
managed and controlled by the shareholders
managed and controlled by the top management
managed and controlled by the board of directors
An entrepreneur who is involved in technological changes in producing goods and services is called a __________.
copreneur
intrapreneur
cyberpreneur
technopreneur
Entrepreneurship refers to _________________.
the process of creating something new
the process of creating something new with value by devoting the necessary time and effort
the process of the business expansion that creates wealth, a better standard of living and conditions
Entrepreneurs are different from businessman because ___________________.
they always try to upgrade their life
they try to overcome competitors by using various ways
the maximise the profits by providing various goods and services
they try to contribute toward economic development of the country
Businessman will maximize self-potential by utilizing available opportunities.
True
False
In society/community development, entrepreneurs will obtain unlimited financial rewards if they can fulfill society's needs and wants.
True
False
A person engaged in a commercial or industrial business (especially an owner or executive) is called an entrepreneur.
True
False
Why entrepreneurship is so vital to national development due that entrepreneurs can create more job opportunities to serve the nation better lifestyles.
True
False
Entrepreneurship is a process of setting up business opportunities under conditions of risks with entrepreneurial behavior and continuous development.
True
False
Fardu Kifayah- bears the responsibility to provide goods and services primarily to the Muslim community and to others.
True
False
Private limited companies are required by the Company Act 1965 to be registered with the Registrar of Companies (ROC).
True
False
Which of the following statements is true about the definition of business, entrepreneur, and entrepreneurship?
Entrepreneurship is a person while an entrepreneur is a process of creating a new venture.
Entrepreneurship is a commercial activity or trade and the purchase and sale of products or services to make a profit.
Business is an occupation that involves buying and selling activities to make a profit while an entrepreneur is a person who creates a new venture.
An entrepreneur is an occupation while a business is a process of creating a new venture under the condition of risks with entrepreneurial behaviour.
Sales and distribution for product and services have changed after the existence of online business. All the following are the advantages of using the online distribution system, except:
time constraint on managing the online distribution system.
wider market potential due to unrestricted geographical reach.
distribution system is easier as the seller can directly sell to customers.
margin becomes higher because the sales and distribution cost have been reduced.
