Entrepreneurship Management

151. Memorandum of association of a firm contains ______________.

  1. rules regarding the internal management of the company.
  2. rules regarding the constitution and activities of the company.
  3. rules regarding the external management.
  4. rules regarding the constitution.
Correct answer: (B)
rules regarding the constitution and activities of the company.

152. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?

  1. Supplier.
  2. Retailer.
  3. Competition.
  4. Government bureau.
Correct answer: (B)
Retailer.

153. Which of the following is not considered to be a characteristic of a project?

  1. An established objective
  2. Complex tasks
  3. A clear beginning and end
  4. Only for internal use
Correct answer: (D)
A clear beginning and end

154. Every entrepreneur should draw an ______________ for his project to ensure the timely completion of all activities involved in setting up an enterprise.

  1. cost structure
  2. implementation plan
  3. market structure
  4. production structure
Correct answer: (B)
implementation plan

155. Why are small businesses important to a country's economy?

  1. They give an outlet for entrepreneurs.
  2. They can provide specialist support to larger companies.
  3. They can be innovators of new products.
  4. All the above.
Correct answer: (D)
All the above.

156. Primary data is ______________.

  1. new data specifically collected for a project.
  2. the data that is collected first.
  3. the most important data.
  4. data that is collected second.
Correct answer: (A)
new data specifically collected for a project.

157. Which of the following is a recognized disadvantage of setting up as a start-up as compared with other routes to market entry?

  1. less satisfaction of the owners.
  2. less help from various agencies.
  3. there are more funds required.
  4. there is a high failure rate.
Correct answer: (D)
there is a high failure rate.

158. SIDBI was set up as a subsidiary of ______________.

  1. IDBI.
  2. IFCI.
  3. ICICI.
  4. SFC.
Correct answer: (A)
IDBI.

159. In backward areas, term loans for expansion or setting up a new unit are available at ______________.

  1. concessional terms.
  2. differential terms.
  3. standard terms.
  4. specific terms.
Correct answer: (A)
concessional terms.

160. In ______________, machines and equipments are arranged in the order or sequence in which they are to be used for manufacturing the product

  1. Product Layout.
  2. Factory Layout.
  3. Process Layout.
  4. Combined Layout.
Correct answer: (A)
Product Layout.
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