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 ENT211 PAST QUESTIONS ANONYMOUS

1. Executive summary of a business plan contains the following

A) Trend in the industry.

B) Projected sales and profits for 3 years.

C) Key management personnel.

D) All of the above.

E) None.

ANS: D

2. For safety in the laboratory or workshop, we need the following except

A) Glasses.

B) Safety boot.

C) Hand band.

D) Gloves.

E) None.

ANS: C

3. The importance of feasibility studies include

A) Listing in details all the things you need to make the business works.

B) Identifying logistical and other business related problems and solutions.

 C) Serving as a solid foundation for developing your business plan..

D) All the options are correct.

E) None.

ANS: D

4. Entrepreneurship can be influenced in the following ways EXCEPT one

A) Through self-perception as a potential entrepreneur.

B) Educational Preparation.

C) Observing the wind.

D) Socialization.

E) None.

ANS: C

5 Financial ___________ is propelled by sound financial intelligence

A) Abundance.

B) Capacity.

C) Analysis.

D) Management.

E) None.

ANS: D
6. Entrepreneurial skills can be acquired through all of the following except
________

A) Education.

B) Mobilization.

C) Enterprise development.

D) Experimental programs.

E) None.

ANS: E

7. In the production of sandals we need the following except

A) Gum.

B) Brush.

C) Water.

D) Biro.

E) None.

ANS: D

8. Which of the following is relevant in a business plan?

A) Futuristic designs.

B) Intelligent plan.
 C) Highlight of critical risks.

D) All options are correct.

E) None.

ANS: D

9. Which of these is not a body that provides business information in Nigeria?

A) National Bureau of Statistics.

B) Nigeria Export Promotion Council.

C) Road Transport Union.

D) Daily and Financial news papers.

E) None.

ANS: C

10. The financing of Entrepreneurship business can be hindered by

A) Business plan.

B) Business growth.

C) Environment.

D) Collateral.

E) None.

ANS: D
11. One of the benefits of a business plan is

A) Not necessary.

B) Waste of time.

C) Waste of money.

D) Necessary for seeking loan from the bank.

E) None.

ANS: D

12. Which of the following is not a material required for textile production

A) Fabric.

B) Dyes.

C) PVA.

D) Hand glove.

E) None.

ANS: D

13. The following except ___________is a component of feasibility study.

A) Executive Summary.

B) Product/Service.

C) Acquisition.
 D) Technology.

E) None.

ANS: C

14. A business plan should be written in ___________

A) Past tense.

B) Present tense.

C) Future tense.

D) None of the above.

E) None.

ANS: B

15. UK size 6 is equivalent to ________ USA size

A) 44.

B) 45.

C) 42.

D) 40.

E) None.

ANS: C
16. According to finding the best financial strategy that is viable in Nigeria is
___________

A) Postpaid.

B) Credit.

C) Prepaid.

D) None of the above.

E) None.

ANS: C

17. Which of the following is NOT TRUE?

A) A feasibility study is a pre-requisite for a business plan.

B) A feasibility study is required for turn-key project only.

C) A feasibility study is concerned with the technical aspect of the project.

D) A feasibility study tells us how feasible the project is financially.

E) None.

18. Entrepreneurs exhibit the following traits EXCEPT one

A) Resourcefulness.

B) Ingeniousness.

C) Creativity.

D) Pride.

E) None.
ANS: D

19. What product requires FORMALIN for its production?

A) Paint.

B) Sandals.

C) Textile.

D) Disinfectant.

E) None.

ANS: D

20 An intelligent business plan unequivocally provides clear ___________ of an

entrepreneur's ability to plan and manage his or her business

A) Evidence

B) Confidence

C) Ideology

D) All of the above

E) None

ANS: B

21. A good business plan has the following components except

 A) A detailed description of the business venture.

B) The name of the company which must be registered with Corporate Affairs
Commission.

C) Dividends for company shareholders.

D) Business goals, location and skills that are needed to determine the
viability of the venture.

E) None.

ANS: B

22. The material that helps to bind paint and confer on it a concealing property is
called _________

A) Binder

B) Thickener

C) Water

D) Paste

E) None

ANS: A

23. In leather belt production, the harmer is used in ONLY one function below

A) Driving the puncher into the belt holes.

B) Applying gum on the leather.

C) Cutting and trimming leather.

 D) Filing out rough edges.

E) None.

ANS: C

24. Banks, venture capitalists and able investors usually require a good business
plan from entrepreneurs in order to help them make good decisions about potential
___________

A) Enterprises.

b) Investments.

c) Profits.

d) None of the above.

e) None.

ANS: B

25. lt is ___________ to attach a copy of a business registration document to the

business plan

A) not necessary.

B) compulsory.

C) advisable.

D) Mandatory.

E) None.
ANS: C

26. In today’s competitive market, entrepreneurs are required to subject their

packaging scheme to the rigorous test of the evolutionary

A) Technology

B) Innovation

C) Technovation

D) none of the above

E) None

ANS: B

27. It is the responsibility of the ___________ to clearly identify the target

market in the business plan

A) Entrepreneur.

B) Intrapreneur.

C) Investor.

D) Bank.

E) None.

ANS: A

28. A business plan contains all of the following except, ________

 A) It is a written document.

B) it proposes how the enterprise is to be managed.

C) It is a master plan.

D) it is a guide for the entrepreneur.

E) None.

ANS: E

29. Which of the following author is credited to be among the first to emphasize
the role of innovation in entrepreneurship?

A) Drucker (2007).

B) Dess, (1996).

C) Oteh, (2009)..

D) Schumpeter, (1949).

E) None.

ANS: D

30. The functions of an Entrepreneur is ________

A) to drive.

B) to inform.

C) risk-bearing.

D) to deny.
 E) None.

ANS: C

31. Which of these is not an objective of business plan?

A) To maximize sales.

B) Discouraging competition.

C) To make much profits.

D) To create new opportunities.

E) None.

ANS: B

32. Sole proprietorship operates under a ___________ template while the scheme
of SMEs and Corporations operate under the entrepreneurial platform

A) Capitalistic.

B) Socialist.

C) Communist.

D) Free economy.

E) None.

ANS: D
 33. The capitalistic scheme of micromanaging a business inevitably denies the
skilled employee, especially the ___________ the right to directly participate in
the decision making process of the growth phase of the business

A) Entrepreneur closes family members.

B) Innovator.

C) entrepreneur.

D) intrapreneur.

E) None.

ANS: C

34. The registration number in the certificate issued by the Corporate Affairs
Commission becomes the ___________ number of the venture

A) Business identification.

B) Tax.

C) Company Identity.

D) none of the above.

E) None.

ANS: A

35. An entrepreneur can be influenced in the following ways except ________

A) Mobilization.

B) Educational Preparation.
 C) Self Perception.

D) Socialization.

E) None.

ANS: E

36. Which of the following is not a material required for paint production

A) Fungicide.

B) Water.

C) Yellow oxide.

D) Formalin.

E) None.

ANS: D

37. Which of the following products require kerosene in its production?

A) Insecticides.

B) Liquid soap.

C) Perfume.

D) Paint.

E) None.

ANS: A
38. Taking decisions without consultation is called ________

A) Self enreprenural management.

B) Classic entreprenueral management.

C) Suicidal entrepreneural management.

D) Solo entrepreneural management.

E) None.

ANS: D

39. A very crucial objective of personnel management is to provide the future

___________ resources requirement of the enterprise

A) material.

B) human.

C) financial.

D) capable.

E) None.

ANS: B

40. ________ is a long term promissory note for raising loan capital

A) Debenture.

B) Preference share.
 C) Retained earnings.

D) Term loans.

E) None.

ANS: D

41. Statistics show that about ___________ of Firms in Nigeria are small and
medium sized.

A) 0.79.

B) 0.77.

C) 0.9.

D) 95%.

E) None.

ANS: A

42. Which of the following is not tool required for paint production

A) Bucket.

B) Tape.

C) Stirrer.

D) Nose mask.

E) None.
ANS: E

43. Entrepreneurship and vocational programmes provides a variety of

opportunities for ________

A) Schools.

B) Markets.

C) Youths.

D) Adults.

E) None.

ANS: C

44. The registration number in the certificate issued by the Corporate Affairs
Commission becomes the ___________ number of the venture

A) Business identification.

B) Tax.

C) Company Identity.

D) none of the above.

E) None.

ANS: A

45. Which of these is not a body that provides business information in Nigeria?
 A) National Bureau of Statistics.

B) Nigeria Export Promotion Council.

C) Road Transport Union.

D) Daily and Financial news papers.

E) None.

ANS: C

46. In financial intelligence, the following are critical except

A) integrity.

B) hardworking.

C) relevant skill acquisition.

D) overtrading.

E) None.

ANS: B

47. Which of the following is not a material required for paint production

A) Fungicide.

B) Water.

C) Yellow oxide.

D) Formalin.

E) None.
ANS: E

48. In the production of sandals we need the following except

A) Gum.

B) Brush.

C) Water.

D) Biro.

E) None.

ANS: D

49. The following are the qualities of a good entrepreneur

A) must be observant.

B) must seek customer's needs.

C) Create wealth.

D) Create scarcity.

E) None.

ANS: D

50. Excustive summary of a business plan contains the following

A) Trend in the industry.

 B) Projected sales and profis for 3 years.

C) key management personnel.

D) All of the above.

E) None.

ANS: D

51. According to ________ the entrepreneur is the agent who unites all means of
production and who finds the value of the products and ________

A) Mainama & Aruwa, (2008).

B) Knight, (1988).

C) Say (1816).

D) Rilwani, (2023).

E) None.

ANS: C

52. When an Enterprise incurs short term cost and cannot finanacially meets its
goal, it is said to be ________

A) Over trading.

B) Under trading.

C) Optimal trading.

D) All options are correct.

 E) None.

ANS: A

53. Objectives of the business plan include

A) How to make as much profits as possible.

B) Describe how to maximize sales.

C) Describe how to produce the best product in a given market.

D) All of the above.

E) None.

ANS: D

54. Entrepreneurship is dynamic process of ________

A) Vision, change and creation.

B) Create and sell.

C) Self employment of any sort.

D) Visit to villages and markets.

E) None.

ANS: A

55. All of the following except ________ are used for making perfume.
 A) Measuring cylinder.

B) Volumetric flask or jar.

C) Water.

D) Stirrer.

E) None.

ANS: D

56. ___________ is NOT a material used for female shoe production

A) Carbon paper.

B) ink.

C) carbolic.

D) Leather landing.

E) None.

ANS: D

57. A written business plan should have all the following except

A) financial information.

B) Product or service.

C) business objective.

D) liquidation plan.

E) None.
ANS: D

58. The financing of Entrepreneurship business can be hindered by

A) business plan.

B) business growth.

C) environment.

D) Collateral.

E) None.

ANS: D

59. Is risk bearing part of an Entrepreneurship deal?

A) yes.

B) no.

C) not sure.

D) non of the above.

E) None.

ANS: A

60. ________ is not a chemical for making disinfectant.

A) Phenol.
 B) Texapon.

C) Carbolic.

D) Methanol.

E) None.

ANS: D

61. Entrepreneurship involves

A) Fighting.

B) Stocking.

C) Book keeping.

D) Wealth creation.

E) None.

ANS: D

62. Which of the following is not a material required for textile production

A) Fabric.

B) Dyes.

C) PVA.

D) Hand glove.

E) None.
ANS: D

63. One of the main problems entrepreneurs face in Africa is that they tend to
___________ their enterprise by trying to be involved in every aspect of the
enterprise's daily operation.

A) micromanage

B) macro manage

C) manage

D) mismanage

E) None

ANS: A

64. Business growth is an economic increase that is predicated on the following

except

A) financial intelligence.

B) criminal intelligence.

C) investment intelligence.

D) entrepreneurial intelligence.

E) None.

ANS: B

65. Which of the following is not a tool for making belt?

 A) Hammer.

B) Phenol.

C) Punch.

D) Filling machine.

E) None.

ANS: D

66. Marketing in Entrepreneurship include the following except

A) Transportation.

B) Counterfeiting.

C) Advertisement.

D) Packaging.

E) None.

ANS: B

67. Business growth does NOT and CAN NEVER follow a sample linear
progression

A) TRUE.

B) FALSE.

C) Maybe.

D) Not sure.
 E) None.

ANS: B

68. The need for a business plan includes all of the following except

A) Planning to launch a new business.

B) Expanding your existing business.

C) Adding a new product or product line.

D) Increasing your labour force.

E) None.

ANS: D

69. Materials required for paint production are the following, EXCEPT one

A) Water.

B) Nose mask.

C) Yellow Oxide.

D) PVA (emulsion).

E) None.

ANS: B

70. A business plan is a

 A) A written document that details the proposed enterprise showing how the
business is to be managed.

B) Also called a feasibility report.

C) Also called a gross margin.

D) Also called project plan.

E) None.

ANS: A

71. The following are regarded as medium term sources of funds except

A) Hire purchase.

B) Debenture.

C) Lease arrangement.

D) Factoring.

E) None.

ANS: E

72. _____ proposed the entrepreneurship as a practice.

A) George Bush.

B) Peter Dracker.

C) Smith Bush.

D) Don Collins.
 E) None.

ANS: B

73. Which of the following products require fishing line for its production

A) leather belt.

B) bleach.

C) Beaded flower vase.

D) Customized t-shirts.

E) None.

ANS: C

74. which of the following is NOT TRUE

A) A feasibility study is a pre-requisite for a business plan.

B) A feasibility study is required for turn-key project only.

C) A feasibility study is concerned with the technical aspect of the project.

D) A feasibility study tells us how feasible the project is financially.

E) None.

ANS: B
75. Which of the following author is credited to be among the first to emphasize
the role of innovation in entrepreneurship?

A) Drucker (2007).

B) Dess, (1996).

C) Oteh, (2009)..

D) Schumpeter, (1949).

E) None.

ANS: D

76. Which of the following is not a tool for making laboratory coats?

A) Measuring tape.

B) Scissor.

C) Buttons.

D) Needle.

E) None.

ANS: D

77. ________________ should be informed of possibilities of self employment and

necessary support services.

A) Children.

B) Adult.
 C) young people.

D) School boys.

E) None.

ANS: C

78. An intelligent business plan unequivocally provides clear ___________ of an

entrepreneur's ability to plan and manage his or her business

A) evidence

B) confidence

C) ideology

D) All of the above

E) None

ANS: A

79. The name of a business must be registered with the ___________

A) Nigeria Business Registration Council.

B) Corporate Affairs Council.

C) Nigerian Council for commerce.

D) Corporate Affairs Commission.

E) None.
ANS: D

80. About 75% of the SME fail in the first year of their business because of

A) Lack of loan.

B) Lack of building.

C) Lack of good business plan.

D) Lack of advertisement.

E) None.

ANS: C

81. Entrepreneurs that tends to get involved in every aspect of the Enterprise's
daily operations are said to be ________

A) Monopolistic

B) Outsourcing

C) Capitalistic

D) Micromanaging

E) None

ANS: D

82. _____________ is NOT required for making paint

A) Gum.
 B) Leather.

C) Brush.

D) all of the above.

E) None.

ANS: D

83. Production of liquid soap requires the following materials except ________

A) Chlorine.

B) Caustic soda.

C) Soda ash.

D) Sulphuric acid.

E) None.

ANS: A

84. A business plan

A) is an effective road map on the journey to an entrepreneur.

B) is a written document that details the proposed enterprise.

C) shows how the business is to be managed.

D) All options are correct.

E) None.
ANS: D

85. In today’s competitive market, entrepreneurs are required to subject their

packaging scheme to the rigorous test of the evolutionary

A) Technology.

B) Innovation

C) Technovation.

D) none of the above.

E) None

ANS: B

86. Entrepreneurship and vocational programmes provides a variety of

opportunities for ________

A) Schools.

B) Markets.

C) Youths.

D) Adults.

E) None.

ANS: C

87. Steps of business development include the following except

 A) conception stage.

B) reproductive stage.

C) survival stage.

D) stabilization stage.

E) None.

ANS: E

88. ___________ is borrowed money that is secured with physical assets as

collateral

A) loan.

B) Debt financing.

C) Equity.

D) none of the above.

E) None.

ANS: B

89. The following agencies support entrepreneurial development in Nigeria

A) Nigeria development bank.

B) Youth development bank.

C) Community bank.

D) Bank of industries.
 E) None.

ANS: A

90. One of the benefits of a business plan is

A) Not necessary.

B) Waste of time.

C) Waste of money.

D) Necessary for seeking loan from the bank.

E) None.

ANS: D

91. Entrepreneurs exhibit the following traits EXCEPT one

A) Resourcefulness.

B) Ingeniousness.

C) Creativity.

D) Pride.

E) None.

ANS: D

92. The following raw materials are required for bleach production
 A) Chlorine.

B) Soda ash.

C) Caustic soda.

D) All of the above.

E) None.

ANS: D

93. The common ingredients for making perfume include all of the following
except ________

A) Chlorine.

B) Methanol.

C) Fragrance.

D) Glycerin.

E) None.

ANS: A

94. Statistics show that about ___________ of Firms in Nigeria are small and
medium sized.

A) 0.79.

B) 0.77.

C) 0.9.
 D) 95%%.

E) None.

ANS: A

95. Materials required for male shoe production are the following, EXCEPT one

A) Harmer.

B) Leather.

C) Baft.

D) Sole.

E) None.

ANS: A

96. Entrepreneurship is a multi disciplinary field that benefited significantly from

________

A) Economics and Social Psychology.

B) Mathematics and Geography.

C) History and Marketing.

D) English language and Literature.

E) None.

ANS: A
97. The final document on which the outcome of the feasibility study is written
down is called ___________

A) business plan.

B) feasibility study.

C) strategic document.

D) written feasibility.

E) None.

ANS: B

98. In leather belt production, the harmer is used in ONLY one function below

A) Driving the puncher into the belt holes.

B) Applying gum on the leather.

C) Cutting and trimming leather.

D) Filing out rough edges.

E) None.

ANS: C

99. According to finding the best financial strategy that is viable in Nigeria is
___________

A) postpaid.
 B) credit.

C) prepaid.

D) none of the above.

E) None.

ANS: C

100. Entrepreneurship can be influenced in the following ways EXCEPT one

A) Through self-perception as a potential entrepreneur.

B) Educational Preparation.

C) Observing the wind.

D) Socialization.

E) None.

ANS: C

101. One of the following is not an example of short term loan fund

A) Trade Credits.

B) Acceptance Credit.

C) Ordinary Shares.

D) Bank over draft.

E) None.
ANS: C

102. All of the following except ________ are used for making perfume.

A) Measuring cylinder.

B) Volumetric flask or jar.

C) Water.

D) Stirrer.

E) None.

ANS: E

103. Effective communication is vital to an Entrepreneur at

A) early stage of business.

B) production stage.

C) marketing stage.

D) all of the above stages.

E) None.

ANS: D

104. UK size 6 is equivalent to

A) USA size 40.

B) USA size 41.

 C) USA size 42.

D) USA size 43.

E) None.

ANS: A

105. Materials required for male shoe production are

A) Leather.

B) Baft.

C) In-sole.

D) All of the above.

E) None.

ANS: D

106. Required tools for male shoe production are EXCEPT one

A) Tape.

B) Sewing machine.

C) Ink.

D) Baft.

E) None.

ANS: C
107. Which of the following color is used for making laboratory coasts for the
Faculty of Agriculture?

A) White.

B) Yellow.

C) Blue.

D) Green.

E) None.

ANS: D

108. All of the following except ________ are components of a business plan.

A) Business goals.

B) Strategy for profit exploitation.

C) Financing and income profile.

D) Investment strategy.

E) None.

ANS: E

109. A good business plan must contain the following EXCEPT one

A) Description of the business venture.

B) Marketing.
 C) Biography of the owner.

D) Production.

E) None.

ANS: C

110. The following except ________ are needed for paint production.

A) Buckets.

B) Leather.

C) Stirrer.

D) Hand gloves.

E) None.

ANS: B

111. Financial intelligence is strictly predicated on the following except ________

A) Integrity.

B) Hard work.

C) Relevant skill acquisition.

D) Craftiness.

E) None.

ANS: D
112. Which of the following is necessary for the production of a male shoe?

A) Picture the intended shoe to produce.

B) Draw a desired picture of the shoe design in your mind.

C) Cut the shoe into pieces.

D) Put on the intended shoes.

E) None.

ANS: B

113. Business operation should include (in terms of production plan) all EXCEPT

A) total amount to be produced.

B) personnel involved in the production process.

C) clear step-by-step explanation of the production process.

D) responsibilities of the different level of management.

E) None.

ANS: E

114. A written business plan should have all the following except

A) financial information.

B) Product or service.

C) business objective.
 D) liquidation plan.

E) None.

ANS: E

115. Entrepreneurship is dynamic process of ________

A) Vision, change and creation.

B) Create and sell.

C) Self employment of any sort.

D) Visit to villages and markets.

E) None.

ANS: D

116. ________________ should be informed of possibilities of self employment

and necessary support services.

A) Children.

B) Adult.

C) Young people.

D) School boys.

E) None.

ANS: A
117. Which of these cannot affect entrepreneurial development?

A) Security.

B) Incentive from government.

C) Availability of raw material.

D) Supply of electricity.

E) None

ANS: C

118. _____________is not part of the guidelines for writing a business plan

A) identify the target market.

B) highlight the risk factors.

C) reach out of to the customers before writing the business plan.

D) write the business plan towards the future.

E) None.

ANS: E

119. _________ is NOT a material used for male shoe production

A) Eyelet pin.

B) Thread.

C) Whitener.
 D) Glue.

E) None.

ANS: C

120. The need for a full-scale business plan according to Cagan (2006) is spurred
by the following except one

A) You plan to launch a new business..

B) You want to expand your existing business into new markets..

C) You want to add a new product or product line..

D) None of the options.

E) None.

ANS: C

121. What is the full meaning of the acronym, BOI

A) Bank of industry.

B) Bank of innovation.

C) Bank of intellectuals.

D) none of the above.

E) None.

ANS: A
122. Business operation should include (in terms of production plan) all EXCEPT

A) total amount to be produced.

B) personnel involved in the production process.

C) clear step-by-step explanation of the production process.

D) responsibilities of the different level of management.

E) None.

ANS: E

123. Marketing in Entrepreneurship include the following except

A) Transportation.

B) Counterfeiting.

C) Advertisement.

D) Packaging.

E) None.

ANS: A

124. A business plan feasibility study does not include

A) scope of the project.

B) source of materials.

C) risk plan.
 D) market outlook.

E) None.

ANS: E

125. A written business plan should have all the following except

A) financial information.

B) Product or service.

C) business objective.

D) liquidation plan.

E) None.

ANS: D

126. Statistics show that about ___________ of Firms in Nigeria are small and
medium sized.

A) 0.79.

B) 0.77.

C) 0.9.

D) 95%%.

E) None.

ANS: B
127. Sole proprietorship operates under a ___________ template while the scheme
of SMEs and Corporations operate under the entrepreneurial platform

A) Capitalistic.

B) Socialist.

C) Communist.

D) Free economy.

E) None.

ANS: A

128. One of the following is needed for paint production

A) Box.

B) Hand gloves.

C) Knife.

D) Top bond.

E) None.

ANS: E

129. ________ is not a chemical for making disinfectant.

A) Phenol.

B) Texapon.
 C) Carbolic.

D) Methanol.

E) None.

ANS: B

130. Which of the following is not an objective of a business plan?

A) How to maximize sales.

B) To describe how to produce the best products.

C) To describe how to grow quickly.

D) To describe how to exploit the labor force.

E) None.

ANS: D

131. The business plan is the only ___________ through which an entrepreneur
can effectively communicate to banks and other financial institutions in order to
obtain financial assistance

A) medium.

B) accepted document.

C) communication channel.

D) none of the above.

E) None.
ANS: C

132. What is value analysis?

A) Planned scientific approach to cost reduction.

B) Analysis of value of products.

C) Cost of production.

D) All options are not correct.

E) None.

ANS: A

133. Many entrepreneurs are successful because they are very ___________ the
risk of failure and bankruptcy

A) experienced in.

B) conscious of.

C) likely to see.

D) none of the above.

E) None.

ANS: B

134. _____________ is NOT required for making paint

 A) Gum.

B) Leather.

C) Brush.

D) all of the above.

E) None.

ANS: B

135. Steps of business development include the following except

A) conception stage.

B) reproductive stage.

C) survival stage.

D) stabilization stage.

E) None.

ANS: E

136. When an Enterprise incurs short term cost and cannot finanacially meets its
goal, it is said to be ________

A) Over trading.

B) Under trading.

C) Optimal trading.

D) All options are correct.

 E) None.

ANS: A

137. An entrepreneur has ___________ basic choices when considerinq financing

his business to enhance growth

A) 1.

B) 2.

C) 3.

D) 4.

E) None.

ANS: B

138. The financing of Entrepreneurship business can be hindered by

A) business plan.

B) business growth.

C) environment.

D) Collateral.

E) None.

ANS: D
139. In the production of sandals we need the following except

A) Gum.

B) Brush.

C) Water.

D) Biro.

E) None.

ANS: D

140. Value analysis covers all of the following EXCEPT ___________

A) cost elimination.

B) cost reduction.

C) improvement of product quality.

D) radical innovation.

E) None.

ANS: D

141. It is the responsibility of the ___________ to clearly identify the target market
in the business plan

A) Entrepreneur.

B) Intrapreneur.

C) Investor.
 D) Bank.

E) None.

ANS: A

142. A business feasibility plan does not include

A) finance.

B) futuristic design.

C) climate.

D) actual litigation cost.

E) None.

ANS: E

143. The importance of feasibility studies include

A) Listing in details all the things you need to make the business works.

B) Identifying logistical and other business related problems and solutions.

C) Serving as a solid foundation for developing your business plan..

D) All the options are correct.

E) None.

ANS: D
144. Entrepreneurship begins with ________

A) Action.

B) Lack of finance.

C) Travelling.

D) Going to the market.

E) None.

ANS: A

145. Materials required for male shoe production are the following, EXCEPT one

A) Harmer.

B) Leather.

C) Baft.

D) Sole.

E) None.

ANS: D

146. The ___________ gives the reader an overview of the most essential facts
contained in the business plan.

A) Executive summary.

B) mission statement.

C) Conclusion.
 D) Analysis.

E) None.

ANS: A

147. The following except ________ are needed for paint production.

A) Buckets.

B) Leather.

C) Stirrer.

D) Hand gloves.

E) None.

ANS: B

148. which of the following is not a tool for shoe making?

A) Knife.

B) Tape.

C) Leather.

D) Hammer.

E) None.

ANS: C
149. Leather belt can be produced from which of the following?

A) Pig skin.

B) Rabbit skin.

C) Rat skin.

D) Cow skin.

E) None.

ANS: D

150. The following are the guidelines for producing business plan

A) Keep the business plan reasonably short.

B) The mission statement.

C) Executive summary.

D) All of the above.

E) None.

ANS: D

151. A business plan must contain the following EXCEPT one

A) Description of the business.

B) Marketing.

C) Financing.

D) Home consumption.
 E) None.

ANS: D

152. Entrepreneurial skills can be acquired through all of the following except
________

A) Education.

B) Mobilization.

C) Enterprise development.

D) Experimental programs.

E) None.

ANS: E

153 ________ Is where the trade debtors are sold at discount to a finance house

A) Prepayment.

B) Unsecured credit.

C) Invoice discounting.

D) Factoring.

E) None.

ANS: D
154. Which of the following is not a material required for paint production

A) Fungicide.

B) Water.

C) Yellow oxide.

D) Formalin.

E) None.

ANS: D

155. An increase in economic activities refer to ________

A) Marketing.

B) Trading.

C) Business.

D) Entrepreneurieship.

E) None.

ANS: C

156. The common ingredients for making perfume include all of the following
except ________

A) Chlorine.

B) Methanol.

C) Fragrance.
 D) Glycerine.

E) None

ANS: A

157. Effective communication is vital to an Entrepreneur at

A) early stage of business.

B) production stage.

C) marketing stage.

D) all of the above stages.

E) None.

ANS: D

158. Which of the following is not one of the stages of business growth?

A) The conception stage.

B) The survival stage.

C) The stabilization stage.

D) All options are correct.

E) None.

ANS: C
159. ___________ is NOT a material used for female shoe production

A) Carbon paper.

B) ink.

C) carbolic.

D) Leather landing.

E) None.

ANS: A

160. The concept of entrepreneurship in the University system is to ________

A) Buy and sell.

B) to develop and assist the undergraduates.

C) to go to school.

D) to sell.

E) None.

ANS: B