- 1. If you’ve got a sole proprietorship or general partnership, a __________ is needed if your company name is different from your own name.
- 2. ____have shown that more than half of all businesses fail in less than two years of commencement
A) Statisticians
B) Economistsy
C) Researchers
D) Entrepreneurs
- 3. An _________is your first line of defense to protecting this information.
A) LLC
B) LDA
C) LDS
D) NDA
- 4. An __________falls somewhere between a formal contract and a handshake.
A) CSC
B) LLC
C) MOU
D) CAC
- 6. If you gather any __________ from your customers or website visitors (such as email addresses), you are legally required to post a privacy policy that outlines how this information will be used and not used.
- 7. Before opening his own business, Femi was writing a report that details the specifics of his ideas and future business operations. This document is known as
- 8. Two main types of business growth are __________and External growth
- 9. Businesses involved in international trade with other Hague Convention countries may need a certificate known as an_________ , that authenticates the origin of a public document (like articles of incorporation) so they can be recognized in another country.
- 10. Entrepreneurs must endeavor to ensure their businesses are __________sound right from its foundation.
A) Monetary
B) Capitally
C) Physically
D) Legally
- 11. Project managers use feasibility studies to determine potential positive and negative outcomes of a project before investing a considerable amount of time and _________into it.
A) Effort
B) money
C) Resources
D) Investment
- 12. The point at which an entrepreneur attains a production level where he/she will not gain or lose is called
- 13. Discipline is a common ________of all successful business people.
A) thing
B) idea
C) trait
D) training
- 14. Entrepreneurs must endeavor to ensure their businesses are legally sound right from its__________.
- 15. A business where an individual is both the owner and manager of the business affairs is called
- 16. Loans that are given by banks and co-operative institutions are called __________of credit.
A) Formal sector
B) Indirect sector
C) Direct sector
D) Informal sector
- 17. The e-commerce concept relates to business or financial transactions that facilitate electronic payments of items purchased from online stores and service vendors. This type is called___________
- 18. __________ reduces uncertainties by providing the detailed planning activities after the evaluation viability confirmation.
- 19. Policy __________ are those which are taken by top management and which are of a fundamental character affecting the entire business.
- 20. Opportunity identification has _________stages that lead to recognition.
A) Seven
B) Five
C) Four
D) Three
- 21. Electronic commerce encompasses the marketing, ______and selling of merchandise or services over the Internet.
- 22. One author defines business ethics as “the study of how personal moral norms apply to the activities and goals of commercial __________.
A) Product
B) Enterprise
C) Environment
D) Feedback
- 23. At which stage of a business venture does financial institutions and investors traditionally show no interest in funding a business venture?
A) Growth stage
B) Seed or concept
C) Survival stage
D) Startup Stage
- 24. _____ is a legal consolidation of two or more entities into one entity
- 25. A plan must be____except
A) Intelligible
B) Written
C) Accurate
D) Flexible
- 26. _____lays the strategic decision-making
A) Strategy
B) Decision
C) Ethics
D) Structure
- 27. ______ is the conduct of business process on the internet
- 28. Disciplne in business requires among other things except
A) Holistic stock
B) Teamwork
C) Creating a Vision and Plan
D) Motivation and Personal Development
- 29. Focus on result and trying to achieve a goal is,
A) Management by dictation
B) Management by insight
C) Management by objectives
D) Management by seeing
- 30. _____is an asset used as security for a loan
- 31. ____is a market for buying and selling company Shares. It supervises the issuing of shares by companies
A) Public market
B) Stock market
C) Shares market
D) Private market
- 32. _____ growth can be carried out by seeking external finance, or by merger and acquisition
- 33. Before the launching of the business you logically organise the process you want to adopt to achieve the _____
A) Source of finance
B) Set business objectives
C) Means of finance
D) Business plan
- 34. Failing to meet deadlines for filing____ returns and payments can incur fines and interest
- 35. Which of these occur when two companies sell similar products to the same markets?
A) Vertical merger
B) Horizontal merger
C) Forward integration
D) Conglomerate merger
- 36. All businesses need_____
- 37. Who coined Competitive Model
A) Abraham lincoln
B) Michael E. Porter
C) Jorgensen
D) Adam Smith
- 38. typically a steady process of expansion from within the firm
A) Conglomerate growth
B) External growth
C) Vertical growth
D) Internal growth
- 39. Where the money comes from is known as_______
- 40. What type of Entrepreneur is Kumar Manglam Birla?
A) Third Generation Entrepreneur
B) Second Generation Entrepreneur
C) Fifth Generation Entrepreneur
D) First Generation Entrepreneur
- 41. ____refers to the value that is put for a product
- 42. The 4Ps which make up a typical marketing mix are all these, except
A) Production
B) Price
C) Place
D) Promotion
- 43. One banking is another form of_____
- 44. The_____describes to investors and financial sources all the event that are likely to affect the proposed venture.
- 45. Planning helps you to work _____ rather than harder
A) Accurately
B) Tougher
C) Smarter
D) Better
- 46. According to Timmons and Spinelli, (2004), developing the business plan is one of the best ways to define the_______, strategy, resources, and individual requirements for a new venture.
A) Business aim
B) Blue print
C) Business objectives
D) Business strategy
- 47. The principles of planning in feasibility studies and business plan include the following, except
A) Intelligible
B) Implicit
C) Flexible
D) Written
- 48. The____ should appear first in your business plan.
A) Source of finance
B) Executive summary
C) Problem definition
D) Introduction
- 49. Business plan and ______ are required as controlled process for identifying business problems and opportunities, determining objectives, describing situations, defining successful outcomes, assessing the range of costs and benefits associated with several alternatives for solving a problem
A) Feasibility studies
B) Business strategy
C) Code of conduct
D) Business definition
- 50. The following are the factors that motivate someone to start a business, except
A) Accomplishment
B) Business involvement
C) Make it personal
D) Breaking barriers
- 51. DBA is the acronym for_____
A) Decision of business assessment
B) Delivery business assessment
C) Doing business as
D) Decision of business and attainment
- 52. To distinguish your business as a separate legal entity, you'll need to obtain a_______
A) Federal Tax Identification Number
B) Business Registration Number
C) Corporate Affairs Commission Number
D) Business permit
- 53. SME is the acronym for_____
- 54. ILO (2007) estimated that about ______% of the people in sub-Suharan Africa rely on small and information establishment for their livelihood
A) 80
B) 90
C) 70
D) 40
- 55. When productivity is higher, cost of _____tends to be lower
A) Promotion
B) Production
C) Investment
D) Resources
- 58. Opportunity_____can be defined as the cognitive process or process or processes through which individuals conclude that they have identified an opponent.
A) Preparation
B) Recognition
C) Identification
D) Perspection
- 59. Loans that are given by banks and co-operative institutions are called_____of credit.
A) Financial sector
B) Informal sector
C) Formal sector
D) Non-financial sector
- 60. _____ stage is that knowledge and experience exercised just before the opportunity discovery process.
A) Insight stage
B) Incubation stage
C) Preparation stage
D) Recognition stage
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