Quiz  /  Entrepreneurship development Gate & PSU MCQ Questions With Answers...

  • 1. 
    What is the process by which individuals pursue opportunities without regard to resources they currently control?

  • Startup management
  • Feasibility planning
  • Financial analysis
  • Entrepreneurship

  • 2. 
    Which one of the following is an important source of idea generation due to their familiarity with the needs of market?

  • Existing products and services
  • Consumers
  • Federal government
  • Distribution channels

  • 3. 
    What is the key objective of Value Proposition Canvas?

  • To map the customer needs
  • To map the customer feedbacks
  • To map the customer values
  • To map the customer relation

  • 4. 
    Who among these are not your key business partners?

  • Government
  • Public or Prtivate Bank
  • Customer
  • Raw material supplier

  • 5. 
    Which one is NOT a disadvantage of Entrepreneurship?

  • Risky
  • Uncertain Income
  • You are the boss
  • Work long hours

  • 6. 
    Which of the following shows the process of creating something new?

  • Business model
  • Modeling
  • Creative flexibility
  • Innovation

  • 7. 
    Why is multi-tasking a key entrepreneurial skill?

  • Small businesses may start out as one-person operations.
  • Small businesses usually involve delegating tasks to employees.
  • Small businesses usually involve tasks that must be completed immediately.
  • Small businesses usually involve hiring a large staff to get them off the ground.

  • 8. 
    EDP (Entrepreneurship Development Programmes) is required to help:

  • Existing entrepreneurs
  • First generation entrepreneurs
  • Future generations entrepreneurs
  • None of the above

  • 9. 
    What is the most important part of your business plan?

  • Executive Summary
  • Table of Contents
  • Financial Plan
  • Background

  • 10. 
    Which of the following is not a key aspect of customer need?

  • Quality and quantity
  • Price
  • Location
  • Variation

  • 11. 
    Family business is always interested to handover the charge of his business to:

  • Indian Administration Officers
  • Professional Managers
  • Next generation
  • None of the above

  • 12. 
    State the following facts are true or false:1. Entrepreneurs can create jobs in the market.2. When many entrepreneurs sell mobile phones in a market, the prices of phones increase.

  • 1. True2. False
  • 1. False2. True
  • 1. False2. False
  • 1. True2. True

  • 13. 
    What is the full form of NABARD?

  • National Bill for Agriculture and Rural Development
  • National Bank for Agriculture and Rural Development
  • National Bill for Agriculture and River Development
  • National Bank for Agriculture and River Development

  • 14. 
    Which of the following is not a part of Financial Planning?

  • Cash Flow Statement
  • Profit and Loss Account
  • Debit Credit list
  • Balance Sheet

  • 15. 
    What is the full form of DPR?

  • Delayed Project Report
  • Detailed Performance Report
  • Domestic Progress Ratio
  • Detailed Project Report

  • 16. 
    What is initiative?

  • The drive to do whatever is necessary to make a business successful
  • The drive to oversee a variety of business-related details
  • The drive to delegate as many responsibilities as necessary and possible
  • The drive to solve many problems in a timely manner

  • 17. 
    Select the correct arrangement:

  • BMC > VPC > DPR > FP
  • VPC > BMC > DPR > FP
  • VPC > BMC > FP > DPR
  • None of these

  • 18. 
    Cooking in a restaurant is a _______________ business idea but owning a clothing business is a _____________ business idea.

  • Wage employment, Industrial employment
  • Self employment, Industrial employment
  • Wage employment, Self employment
  • None of these

  • 19. 
    People who own, operate, and take risk of a business venture:

  • Aptitude
  • Employee
  • Entrepreneurs
  • Entrepreneurship

  • 20. 
    Which of the following parts of a business plan include the cash flow projection and the repayment plan?

  • Background and History
  • Financial Plan
  • Market Research
  • Executive Summary

  • 21. 
    A women entrepreneur is supposed to have a minimum financial interest in share capital of entrepreneur’s enterprise:

  • 35 per cent
  • 51 per cent
  • 25 per cent
  • None of the above

  • 22. 
    Which one of the entrepreneurial skills would fall under marketing and sales?

  • Creating events
  • Opening the doors early
  • Paying bills on time
  • Ordering the right inventory

  • 23. 
    Which of the following is not a principle of business idea creation?

  • Customer need
  • Entrepreneur’s own interest or talent
  • Innovative
  • None of these
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