Entrepreneurship MCQs

Entrepreneurship MCQs

Our experts have gathered these Entrepreneurship MCQs through research, and we hope that you will be able to see how much knowledge base you have for the subject of Entrepreneurship by answering these multiple-choice questions.
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1: Total revenue divided by________ = units sold.

A.   Cost

B.   Profit

C.   Selling price

D.   Total operating costs

2: A critical component of supply chain management is ________.

A.   Managing inventory

B.   Identifying and securing suppliers

C.   Both A and B

D.   Finding the customer

E.   Manufacturing at an acceptable level

3: ________ are negative internal factors that inhibit the accomplishment of a firm's objectives.

A.   Strengths

B.   Weaknesses

C.   Opportunities

D.   Threats

4: A ________ for technology is important for decision-making before investment.

A.   Trial subscription

B.   Consultant

C.   Cost/benefit analysis

D.   Competition research

5: Using technology to sell ________.

A.   Is too expensive for the average salesperson

B.   Can be useful in helping you communicate your product to the customer and to stay in touch with the customer

C.   Works for products but not services

D.   Is not really necessary

6: Business failure is defined by dun and bradstreet as ""business termination ________.""

A.   With losses to creditors

B.   With no notice

C.   Because of owner illness

D.   Due to retirement

7: Entrepreneurs tend to be ________.

A.   Negative

B.   Optimistic

C.   Risk averse

D.   Dispassionate

8: Every person has the _____ and _____ to pursue a career as an entrepreneur.

A.   Stubbornness; stupidity

B.   Potential; free choice

C.   Rights; regulations

D.   Obligation; duty

9: ________ typically lead(s) sales; ________ typically lag(s) sales.

A.   Production; receivables

B.   Collections; purchases

C.   Receipts; production

D.   Purchases; collections

10: Licensors must be careful that a licensee ________.

A.   Doesn’t damage the licensing company’s name

B.   Controls every aspect of the licensor’s business

C.   Doesn’t go out of business

D.   Follows all procedures of the licensor

11: According to the textbook, trade secret disputes arise most frequently when ________.

A.   One firm alleges that it can legally use another firm's trade secrets because they were

B.   An employee leaves a firm to join a competitor and is accused of taking confidential information with him or her

C.   One firm claims that another firm outright stole its trade secrets

D.   One firms claims that what another firm is claiming as a trade secret is common knowledge

12: The three factors included in the calculation of the reorder point are ________.

A.   Demand, lead time, and safety stock

B.   Demand, inventory, and price

C.   Supply, price, and safety stock

D.   Supply, lead time, and safety stock

E.   Demand, price, and safety stock

13: The three primary reasons startups need funding are ________.

A.   Is one of the most consistent predictors of future entrepreneurial experience

B.   It enables a company to acquire the use of assets with little or no down payment

C.   Similar to a board of directors, an advisory board has legal responsibility for the firm in certain areas.

D.   Cash flow challenges, capital investments, and lengthy product development cycles

14: Ford's edsel is an example of a product that failed because it lacked ________.

A.   Name recognition

B.   Focus

C.   Competitiveness

D.   Options

15: Relying primarily on debt financing is very dangerous for a company because ________.

A.   Creditors can force a company into bankruptcy or take over company property

B.   Creditors can sabotage the business by refusing to lend it money

C.   Creditors can gain a majority share of the company and take it over

D.   All of the above

E.   None of the above